AISystems Releases Letter to Shareholders Detailing Future Outlook
TORONTO, ONTARIO -- (Marketwire) -- 04/26/11 -- AISystems, Inc. (OTCBB: ASYI) ("AISystems" or the "Company"), creator of jetEngine?, a revolutionary business platform software system for the airline industry, today released a shareholder update letter reviewing its recent accomplishments and detailing the future outlook of its business. The shareholder update letter is included below.
Dear current and prospective shareholders,
I would like to provide you with an update on our recent activities as well as provide a snapshot of what we anticipate achieving over the coming months.
First Some Important AISystems Facts and Milestones
There are a few items that we would like to make sure that the investing community is aware of:
-- Over $30 million has been invested in AISystems since inception in late
2005, through equity and loans.
-- The average equity investment price is approximately $0.45 per share
since inception.
-- AISystems' largest cash investor is Merus Capital, a Silicon Valley-
based venture capital firm. Salman Ullah, Managing Director of Merus
Capital, is the Chairman of AISystems' Advisory Board. Prior to this Mr.
Ullah was Vice President of Corporate Development at Google where he led
all investments and acquisitions. Among the 45 acquisitions he managed
at Google were YouTube, Android & DoubleClick.
-- The company's addressable market encompasses hundreds of airlines
carrying nearly 2 billion passengers annually.
-- The jetEngine? BPS Beta Customer Program has been launched and
AISystems is in discussions with multiple airlines looking to join the
program and begin testing.
-- For the delivery of its products, AISystems has shifted from installing
servers on site at airlines to a "Software as a Service" business model
(SAAS) where the entire product is hosted in the "Cloud". A user only
needs a username & password to access the product from any web browser.
-- Customer demand data is something that is essential for an airline to
plan its business, but in its current form it is unreliable in a dynamic
environment. AISystems has developed Intelligent Competitive Market Data
("ICMD") which we believe is the first data product to really allow an
airline to plan effectively in a competitive environment.
-- The Company's audited financial statements have just been released. The
recession was a difficult period for AISystems but we have survived and
appear to be in a fertile environment for our products in the airline
industry. We have reduced our burn rate significantly and we are taking
steps to execute on the next stage of our business plan.
Airline Business Planning - The Need
Airlines begin the business planning process months before a schedule is actually published. The process is complicated and lengthy as the current technology used by commercial airlines is inadequate to simultaneously analyze dynamic variables such as routes, fleet, crew and maintenance. In addition, it requires collaboration and coordination by several distinct departments within the airline organization, as well as their independent planners and technology systems in order to design and create the business plan and supporting flight schedule.
Currently, the time to complete a business plan and schedule is measured in weeks and months. The process is also inflexible and often hinders an airline's ability to achieve and sustain profitability, not to mention the fact that it is costly and error prone. These issues are mainly due to the current systems' inability to manage and integrate large quantities of data, and the fact that the current systems function in independent silos that perform very isolated functions within the organization. Airline planners have been frustrated by the lack of tools available to resolve these challenges.
About jetEngine? Business Planning Suite - The Solution
jetEngine? Business Planning Suite ("jetEngine? BPS") is an advanced business platform that produces a complete business plan including a cost, revenue and profitability analysis. As well, the system produces completely integrated and feasible route, fleet, crew and maintenance schedules at a speed previously unimaginable. This tool, based on advanced scheduling algorithms and features, allows for the complete redesign of the airline business planning approach. When building the business plan, satisfying all planning requirements and business objectives, jetEngine? BPS reduces the airline planning cycle from months to minutes. This paradigm shift in airline planning is only possible through jetEngine? BPS' breakthrough technology and algorithms.
AISystems recently launched its jetEngine? BPS Beta Customer Program and although airlines will remain the focus of the Company's efforts in securing customers, there has been meaningful interest from a number of groups that surround and support the airline industry which can benefit significantly from an advanced planning tool. These groups are management consultants to airlines, airline manufacturers and suppliers, airline leasing companies and hedge funds & financial analysts. We believe that jetEngine? BPS' ease of use makes it an excellent planning tool for these groups to bring value to their own product offerings through better airline planning information. The Company will use a concentrated marketing drive across several Social Media platforms to reach out to these groups.
Our Opportunity
With the jetEngine? Business Platform, we believe we have created an opportunity to bridge the gap between what current airline enterprise management systems can provide now and the pressing needs of the aviation industry to survive. Recurring annual losses in the industry demonstrate the need for competent and efficiently managed assets and resources in order to reduce costs and return to profitability.
We believe that AISystems is in a great position to begin commercializing the jetEngine? BPS. We are already in discussions with several airlines as well as potential channel partners to market our products. We are excited about our prospects and look forward to continuing the execution of our plan. We believe that AISystems' jetEngine? BPS, having unassailable and superior technology, has the potential to become the standard planning platform in the airline space.
Thanks and we look forward to your continued support.
Regards
Stephen C. Johnston
President & Chief Executive Officer
AISystems, Inc.
About AISystems
AISystems has developed a unique, proprietary business platform software system for the airline industry called jetEngine?, which is comprised of systems and mathematical algorithms capable of generating significant profitability improvements through strategic business planning capabilities, resource scheduling, revenue management and integrated operations. More information about AISystems can be found at www.aisystems.org.
Safe Harbor Statement
This press release may contain "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, and other factors. Additional Information regarding risks can be found in the Company's Annual Report on Form 10-K and in the Company's recent report on Form 8-K filed with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
Contacts:
AISystems, Inc.
Stephen C. Johnston
President and Chief Executive Officer
+1 (416) 367-2544
steve@aisystems.org
