CITY OF INDUSTRY, CA -- (BUSINESS WIRE) – December 15, 2004 – Global ePoint, Inc. (Nasdaq: GEPT), an innovator in homeland security and advanced surveillance and security solutions, announced today that the Company’s Digital Technology Division has successfully launched the sales phase of their next-generation digital video security solutions with a sale at a regional check processing center for a division of one of the nation’s largest financial institutions. The announcement was made by Global ePoint CEO Toresa Lou.
The system, comprised of Global ePoint’s Perpetual Digital products, provides a range of next-generation digital video-based security solutions for a regional check processing center in Southern California. The completed project marks the start of sales from the Global ePoint’s Digital Technology Division, and represents a major milestone in its mission to set the industry standard for digital security surveillance solutions for financial institutions.
Due to the magnitude and mission-critical nature of the financial operations involved, Global ePoint’s Perpetual Digital systems had to meet stringent specifications required by financial institutions. The check processing center solution which totaled approximately $100,000 represents just one potential application of Global ePoint’s digital video-based security solutions. Additionally, the numerous worldwide financial institutions and applications represent a highly significant market and potential source of revenues for the Company.
“The successful launch of the Perpetual Digital solutions not only provides a template for future sales in the financial market but also provides a compelling demonstration of our leadership in the critical area of security for financial institutions,” said Ms. Lou. “We believe this positions Global ePoint favorably for continued penetration into the large and vital marketplace of the nation’s commercial banks and financial institutions.”
The check processing center installation uses Perpetual Digital’s 16 Channel digital video recorder (DVR), comprising dual-redundant digital video recorders and 14-terabytes of internal storage capacity – a uniquely high capacity in the security market that allows storage of video data for up to one year. The systems provide advanced playback and digital archiving capabilities that the company believes will revolutionize the security surveillance industry.
“Because of the sophistication, reach and growth of major financial institutions, these organizations need to protect and record their operations with increasing speed, accuracy, and reliability,” said Greg Edelman, Vice President of Business Development for Global ePoint’s Digital Technology Division. “The true dual-redundancy built into these DVR systems is a critical failsafe feature that is essential in the check processing environment.”
Global ePoint’s Perpetual Digital security solutions utilize proprietary and breakthrough compression technology for next-generation digital video and Internet-protocol applications for commercial, consumer, and other security and surveillance needs. By compressing data structures, these solutions greatly enhance the quality and the efficiency of wireless transfer, deepen data storage ability and longevity and require less hardware capacity than previous technology generations.
About Global ePoint’s Digital Technology Division
Global ePoint’s Digital Technology Division develops and provides a range of next-generation digital video and audio recording solutions for applications in the security industry. Currently consisting of Perpetual Digital and Sequent Technology product lines, the Digital division’s products are making analog tape-based systems obsolete by providing digital technology solutions to enable the real-time capture, playback, communication, computer-based archive, search and recall of high-quality digital video. Perpetual Digital products provide a range of security and surveillance capabilities, including point-of-sale digital video transaction recording equipment and a range of other commercial security solutions for professional alarm providers and integrators. Sequent Technologies products provide proprietary digital video systems for a range of law enforcement, defense, access security and public safety markets. Its products enable the video transmission, indexing and archiving systems from anywhere using existing wireless cellular networks.
About Global ePoint, Inc.:
Global ePoint's growth catalyst, through its wholly-owned subsidiaries, is the design, manufacturing, sales and distribution of digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology and seeking to expand its product line, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. As a solid recurring revenue stream, the Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit http://www.globalepoint.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the company's current expectations, estimates and projections, management's beliefs and numerous assumptions, all of which are subject to change. These forward-looking statements are not guarantees of future results and are subject to numerous risks and uncertainties. Our actual results could differ materially and adversely from those expressed in any forward-looking statement. For example, deliveries may be delayed or installations canceled. Regulations may change and negatively affect demand for our products. There can be no assurance that the company's subsidiaries and/or divisions will be able to achieve growth of sales or market share. The forward-looking statements in this release speak only as of the date of this release. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. These and other risk factors are detailed in our periodic filings with the Securities and Exchange Commission.