GPS Industries CEO Reports A Year of Achievements
[ Back ]   [ More News ]   [ Home ]
GPS Industries CEO Reports A Year of Achievements

VANCOUVER, British Columbia—(BUSINESS WIRE)—December 21, 2006— GPS Industries, Inc. (GPSI) (OTCBB: GPSN), owner of golf-related Wi-Fi powered GPS technology patents in fifteen countries worldwide, today announced that sales revenue for 2006 will exceed those of 2005 by at least 10%. The Company's CEO has also reported several other significant developments and is issuing guidance that it will achieve a positive cash-flow position in mid-2007.

"The revenue gains our company has made this year are certainly positive," says GPSI President and CEO, Robert Silzer, Sr. "However, those accomplishments will pale in comparison to what we will achieve in 2007."

On November 28, 2006 the Company announced it had concluded an agreement with two major investors, which realized an injection of more than $15-M equity. "As that sum represents only the first stage of the agreement" Silzer says, "I think it's important to note the total value of the deal potentially exceeds $45-M."

The recapitalization comes primarily via Greg Norman's Great White Shark Enterprises ("GWSE") and a global investment giant, which is owned by the Government of Dubai. Since the conclusion of the agreement, GPS Industries has eliminated virtually all long-term debt obligations and aggressively expanded its marketing efforts, growing its international sales team by almost 200%.

Mr. Silzer emphasized "In addition to bringing substantial financial resources to the table GWSE and the Dubai group have significant strategic resources and intellectual capital that will accelerate our growth. Having Bart Collins, President of GWSE, as a member of our executive team is the first step towards realizing the opportunities our new partners bring with their investment."

"Clearly we are now the most financially endowed GPS company in the golf industry," says Silzer. "These resources will accelerate the growth we are already enjoying, and capitalize certain key acquisitions to cement our position as the market leader."

"We have prevailed in the UK courts, defending the integrity of our patents in Europe, and are now preparing actions against more than thirty other infringing businesses. This, in turn, will further reduce the competitive forces in our golf business or generate significant licensing revenue going forward."

2007 will also mark the introduction of an entirely new and potentially lucrative division within the GPS Industries family of brands. Tapping in to the vast gated community market, GPSI will launch a dedicated wireless services division. GPSI Vice President of Wireless Solutions, Peter Lesyk, explains: "Essentially we have developed an array of wireless technology products and applications that enhance the quality of living for residents within defined communities."

"The demand for wireless solutions is growing exponentially around the world," Lesyk continues, "and the fact is our experience with WiFi technology has provided our engineering team with a profound understanding of the opportunities it represents in the residential sector."

To learn more about GPS Industries, and to review details of the $45-M investment agreement, visit the Company's web site at

About GPS Industries (GPSI)

GPS Industries, Inc. (OTCBB: GPSN) owns the patents for golf-related GPS and Differential GPS (DGPS) applications in fifteen Countries worldwide, including the United States, Australia, Great Britain and Japan. GPSI is also the leading innovator of Wi-Fi powered management solutions for golf facilities and residential communities. The company's INFOREMER-HD(TM) GPS System features an integrated Wi-Fi communications network and a comprehensive suite of software applications and revenue generating modules. Central to the system's functionality are the company's award-winning display units, which deliver the most powerful on-course advertising opportunities in the golf industry. For additional information, please visit

Forward-Looking Statements

Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.


GPS Industries, Inc.
Director, Marketing & Communications
Steve Barrett, 604-576-7442
Email Contact
Investor Relations
Ryan Gray, 310-276-6743
Email Contact