A4S Security Announces Two Pending Acquisitions; Provides Business Update
27 Julio 2006 - 1:32PM
PR Newswire (US)
Acquisition of privately held surveillance and personal protection
companies expands addressable market opportunity LOVELAND, Colo.,
July 27 /PRNewswire-FirstCall/ -- A4S Security, Inc. (Nasdaq: SWAT,
SWATW; NYSE Arca), a leading provider of digital video surveillance
solutions, today announced that it has entered into a letter of
intent to acquire privately held Westminster, Colorado based Vizer
Group, Inc. ("Vizer") and Avurt International, Inc. ("Avurt"),
owned and managed by a common group of individuals Vizer
specializes in web-based access control, video surveillance and
intrusion detection, conveniently accessible through the use of
multiple network based devices, including computers, cell phones
and PDA's. With access and monitoring devices connected through the
network, installation and re-location costs are significantly less
than traditional hard wired systems. Vizer's unique proprietary
"e-Link" product is built around a web hosted security services
model that provides a business complete control over access,
alarms, key cards, and video surveillance, all remotely. Vizer's
customers include Remington Arms, Johnson & Wales University,
ConAgra Foods and Ameriquest Mortgage. Avurt distributes and
produces non-lethal personal protection devices and compliance
products currently in use by federal and state agencies. The
devices accurately fire a projectile that breaks on impact
dispersing a cloud of potent pepper spray based powder causing a
severe debilitating reaction in the target area, effective on both
humans and animals. Avurt currently sells the "PepperBall(R)" brand
projectiles and launchers. The use of PepperBall(R) products is
preferred by many law enforcement agencies due to its non-lethal
impact as compared to other products in use such as Taser(R).
PepperBall(R) is a registered trademark of PepperBall Technologies,
Inc. A new proprietary (patent pending) handheld launcher is
scheduled to be released by Avurt late in 2006. In addition to the
current customer base, the new launcher is anticipated to be
marketed to: security guards, postal carriers, animal control
officers, animal owners, campers, hikers, bikers, aid workers,
military police and consumers that desire additional personal
protection. Greg Pusey, Chairman of A4S noted, "The Vizer and Avurt
acquisitions will broaden our reach into the security market by
adding solutions for commercial facilities and non-lethal
protection devices to the ShiftWatch mobile digital video
transportation product line. These acquisitions and the expanded
market opportunities they create reflect the strategy behind our
recently announced proposed name change to 'Security with Advanced
Technology, Inc.,' which is subject to shareholder approval." Scott
Sutton, President of Avurt and Vizer, commented: "We are excited to
be combining with the SWAT team to expand the base of high tech
based security products and services. Our new Avurt launcher is an
exciting development for our existing customer base as well as a
unique and revolutionary personal protection tool for consumers. It
is much smaller, lighter and we believe more effective than the
current options on the market today and will fit easily in a purse,
on a belt or backpack, or on a law enforcement officer's duty belt.
We believe that this launcher can be seen as a non-lethal product
alternative that may become a viable Taser(R) product replacement."
Taser(R) is a registered trademark of Taser International, Inc. The
acquisition of the commonly controlled companies, currently under a
non-binding letter of intent calls for a purchase price, payable in
A4S common stock for the combined companies totaling $3 million
plus a contingent $2 million dollar earn-out based upon achieving
specified future minimum revenue and operating thresholds. A4S will
also enter employment contracts with the key Vizer and Avurt
management personnel. Closing of the acquisition is subject to,
among other items, finalization and execution of a definitive
purchase agreement, completion of due diligence and approval by the
A4S shareholders. A4S has agreed to advance funds under a secured
note to Vizer and Avurt to fund completion of the Avurt launcher
and expand marketing efforts. To date $250,000 has been advanced
under the arrangement. Business Update Tom Marinelli, CEO of A4S
Security, commented on recent business activity: "Our A4S
ShiftWatch division continues to add new customers including our
newest ShiftWatch TVS clients, eTran in Elk Grove, CA and the City
of Vacaville, CA. Our sales team is experiencing very positive
receptions as they present our newest model ShiftWatch TVS 3.0 in
the transportation marketplace." Brian McLean, Transit Manager, of
the City of Vacaville stated, "The City of Vacaville Transit
Department is extremely happy with our decision to outfit our
entire transit fleet with ShiftWatch surveillance product.
ShiftWatch demonstrated a rugged, well-designed and modular
security system that met all of our criteria for quality,
performance and price." He continued, "The quality of the captured
video and sound is simply amazing, and viewing the video from the
Playback Station PC is incredibly easy and intuitive. The City's
Transit Department appreciates ShiftWatch's professionalism
throughout the entire purchase, installation and training process."
For additional information about A4S Security and ShiftWatch
solutions, call 1-888-825-0247 or visit http://www.shiftwatch.com/.
For additional information about Vizer visit
http://www.vizergroup.com/ and for Avurt visit
http://www.non-lethal.com/. Information on the web sites does not
comprise a part of this press release. This press release includes
"forward looking statements" as defined by the Securities and
Exchange Commission (the "SEC"). All statements, other than
statements of historical fact, included in the press release that
address activities, events or developments that the company
believes or anticipates will or may occur in the future are
forward-looking statements. These statements are based on certain
assumptions made based on experience, expected future developments
and other factors the company believes are appropriate under the
circumstances. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the company and may not materialize. Investors are
cautioned that any such statements are not guarantees of future
performance. Actual results or developments may differ materially
from those projected in the forward-looking statements as a result
of many factors, including the company's ability to consummate the
Vizer and Avurt acquisitions as well as the ability of the Vizer
and Avurt management team to successfully implement their business
plans and the company's ability to secure additional funding,
increase sales of its products, and enhance, execute and protect
its technological capabilities, among others. Furthermore, the
company does not intend (and is not obligated) to update publicly
any forward-looking statements, except as required by law. The
contents of this release should be considered in conjunction with
the warnings and cautionary statements contained in the company's
recent filings with the SEC. DATASOURCE: A4S Security, Inc.
CONTACT: Investor Relations, Todd Kehrli or Jim Byers, both of MKR
Group, LLC, +1-818-556-3700, , for A4S Security, Inc.; or Media,
Pat O'Connor of A4S Security, Inc., +1-970-461-0071, ext. 134, Web
site: http://www.shiftwatch.com/ http://www.vizergroup.com/
http://www.non-lethal.com/
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