First Quarter 2000
The Company is pleased to announce that it is nearing completion of a letter of intent with a major telecommunications company. This company will be responsible for assuming the surveillance function to initiate the dispatch of a security agent of all the AUTOEYE systems installed and operating Canada. In addition, this company will be overseeing the maintenance and monitoring of the software and hardware in the project. Negotiations are ongoing with them regarding an extension of the use of its national sales team to assist the Company in marketing the AUTOEYE product.
Phase I of testing has been completed under laboratory and field conditions with extremely encouraging results. Phase II of testing is expected to begin in the near future, and upon completion, AUTOEYE will be ready to market.
