Global ePoint has been in the process of a major transition over the past two years. The Company had been undergoing a series of actions intended to diversify its activities and enable it to move forward with new market opportunities that could better enhance shareholder value. The Company had been engaged in the lottery industry and was one of the largest providers of vending machines for the sale of instant–winner lottery tickets. On June 1, 2001, all of the Company’s lottery assets and core business were sold as the first major step in its transition program. On August 8, 2003, in order for the Company to enter into a larger more diversified target market and proceed with the second major step in the Company’s transition program, the Company completed a merger with McDigit, Inc. (For more information relating to the merger, see the Company’s definitive proxy statement filed July 1, 2003.)
As a result of the merger, the Company now has two main operating divisions. One operating division manufactures customized computers and provides comprehensive solutions for industrial personal computer, commercial personal computer and contract manufacturing markets. This division currently provides approximately 80% of the industrial computers to companies that supply x–ray security equipment for the airline industry. The Company is now expanding its manufacturing into other markets, such as medical applications. The Company’s other operating division, Sequent Technologies, is beginning to establish initial market acceptance of its long–range video, audio and data transmission system, called the "RAIDIUS System," including the "Ranger" and "Paladin" products. Sequent’s systems are designed to transmit video, audio and data streams from anywhere using virtually any data transmission system and the Internet. Sequent’s ability to network video surveillance systems and provide secure access via existing Internet, cellular and computer interfaces is designed to enhance the potential use of video in Law Enforcement, Public Safety, Commercial Security, Homeland Defense, Airport/Airline, and Military applications.
Any forward–looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that actual results may differ substantially from such forward–looking statements. Forward–looking statements involve risks and uncertainties including, but not limited to, the successful completion of equity raises, which may be necessary for Global to implement its plans to develop new market opportunities, continued acceptance of Global’s products and services in the marketplace, competitive factors, new products and technological changes, Global’s successful entry into new markets, Global’s ability to increase its customer base, as well as general, political and other uncertainties related to customer purchases and agreements and other risks detailed in Global’s periodic filings with the Securities and Exchange Commission. |