ABEW 10Q is out: This from RB Board
10Q is out:
Revenues of $725K from Identity vs. $0
And this - read last paragraph:
During the second quarter of 2005, we established the Airbee Automotive Group which merged with Identity, Inc., a distributor of wireless automotive anti-theft devices to America’s more than 22,000 new car dealerships. Using advanced short-range wireless technology, Identity’s products provide total immobilization of a vehicle’s ignition system to prevent theft. Identity’s current nationwide customer base includes dealerships for General Motors, Ford, Chrysler, Dodge, Saturn, Toyota, Lexus, Nissan, Infiniti, Honda, Acura, Suzuki, Mazda, Mitsubishi, Hyundai, and Kia. Following the merger, we reorganized our business units to bring all major product groups in line with our strategy to design, engineer and deliver complete embedded software solutions for short range wireless communications and provide wireless product applications to the automotive sector. (See “Note 3 Business Segment Information” in the Notes to Consolidated Condensed Financial Statements). The discussion below and the results of operations for our two business units in this MD&A are presented under the new organizational structure, and all prior period amounts have been restated to conform to the new presentation.
Companies tend to compete in the same or similar innovative arenas, especially in new products such as ZigBee based software. By investing in underserved areas, such as automotive anti-theft devices and asset tracking and management, we believe that it is possible to yield a greater return on innovation investment. Building innovation topographies can, we believe, reveal technical and marketing patterns in our industry that show where Airbee can differentiate itself from the competition. In this case, it means various automotive applications and asset management that rely upon our core expertise—embedded communications software and the network tools to manage the products into which that software is embedded.
Our business model is designed to get Airbee’s embedded software inside an application (i.e., automotive anti-theft devices and asset management devices inside networks) that we can manage and use as a platform for other Airbee product sales, such as asset tracking and management with our Airbee ZNMS ™ (ZigBee Network Management System). Tech-centric innovation only generates feature-ridden products that can frustrate users. We believe that user-centric innovation generates products that users will readily buy, such as automotive anti-theft devices sold by auto dealers and asset tracking for auto dealers, financial institutions that provide floor planning and insurance companies that want to securely manage multi-million dollar inventories.
By partnering with Texas Instruments, Radiocrafts, GMAC, Tricor Automotive Group and thousands of multi-store automobile dealerships, we can extend our embedded communications software and anti-theft device markets and our core brands (i.e., Airbee ™ and Identity ® ). Partnerships such as these extend our sales and distribution networks nationally and globally.
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