Mr. WonSoo Chung, Axium Technologies' CEO, noted: "We are very pleased to work with STG, an organization that has a proven track record in the electronic security industry. STG's President, Mr. Wade Thomas, was previously the President of Samsung CCTV - GVI Security Solutions' Professional Products Group and was instrumental in GVI's sales growth from $12 million to over $60 million within three years. Mr. Thomas shall be responsible for the channel development initiative of Axium's unique Video Management Software, Maximum-Software."
Wade Thomas, President of Securus Technologies Group, added: "We are excited to have been chosen as the market development partner to Axium Technologies. Axium Technologies has a very unique software technology. This patented Video Management Software platform enables security integrators and end-users the complete control and management capability of Linux-based embedded Digital Video Recorders (DVRs), Network Video Recorders (NVRs), PC-based DVRs and individual IP cameras all on a single command control software platform with limitless expandability. The Maximum Software platform will revolutionize the integration of today's embedded and IP recording world with all forms integrated systems such as access control, time and attendance, POS, intrusion detection and video analytic technologies."
It is expected that the partnership between Axium and STG will expedite Axium's sales growth drastically.
ABOUT AXIUM TECHNOLOGIES, INC.
Axium Technologies, Inc. is a leading provider of surveillance security systems software and hardware. The Company maintains its corporate presence in Pasadena, CA, and its Research and Development Facility in South Korea. The Company's primary products include MAXIMUM Surveillance Software, which is the key solution providing interoperability for numerous digitalized security and surveillance products from diverse manufacturers.
The Company's Digital Video Recorders (DVRs) and Network Video Products (NVPs) are targeted at the security and surveillance segments of the gaming industry. The Company's newest product "TaggerTrap" is a state-of-the-art graffiti detection product, which detects, records and alarms local police of graffiti activity. The estimated cost of graffiti clean-up in North America is $1.0 billion annually and millions of dollars have been budgeted over the past year by large metro police departments to detect and apprehend graffiti taggers.
During 2006, Axium Technologies redeployed much of its resources, both fiscal and headcount, to complete development of its current suite of products. With many of these products now in commercialization, management projects 2007 revenues to be approximately $8.8 million.
FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Security and Surveillance industry; the positioning of Axium products in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Axium Technologies can successfully develop new products and the degree to which these products gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
CONTACT INFORMATION Corporate Inquiries Won Soo Chung 626-351-1200 Email Contact Investor Relations Brock Malky 724-742-4420 www.axiumtech.net