SAN JOSE, Calif., Nov. 25, 2008 (GLOBE NEWSWIRE) -- Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, announced today that the company has signed a contract agreement with GuangDong Quite Tone Cyber Technology (Q-Tone, www.qtone.cn) on eGuard, the Company's intelligent visitor management system. The contract designates Titanium as the sole provider of such systems with estimated business volume of $5 million. The Company expects to begin fulfillment early 2009.
eGuard is a kiosk-based solution with its core engine powered by Titanium's latest inventions in facial recognition and RFID technology. Through advanced machine vision technology, IVMS collects unique facial geometry for comparisons and analysis. This product is ideal for businesses that manage a large number of visitors and require a certain level of security that is non-invasive. It is a robust solution for businesses to control visitor flow, and ensure all visitors who have entered an area have exited and are properly recorded during a specified period of time.
"We are delighted to secure a contract with such revenue commitment; it represents a major step forward for Titanium. More importantly, it is our understanding that Q-Tone will be distributing eGuard to various Government agencies via China Telecom (NYSE:CHA) in GuangDong, China, which is truly a tremendous endorsement for the quality and performance of our solution," said Billy Tang, CEO of Titanium Group.
About Titanium Group
Titanium Group, Ltd. (http://www.titanium-tech.com), and its wholly owned subsidiary Titanium Technology, is a leading biometric and security solutions provider featuring its proprietary and patented automated Face Recognition Systems (AFRS). Titanium's AFRS products capture human face images electronically, input the facial images into searchable files (faceprint) and, in just seconds, accurately compare the facial images to a database containing millions of faces. These cutting-edge products reduce administration cost, enhance security, and significantly increase overall productivity. Titanium's products are distributed worldwide, either directly or through resellers or OEM partners, to governments, law enforcement agencies, gaming companies, and other organizations.
About Q-Tone
GuangDong Quite Tone Cyber Technology LTD is a provider of products, technologies, software, solutions and services to small- and medium-sized businesses (SMBs) and large enterprises, including in the public and education sectors. Q-Tone's offerings span office automation systems; taxation reporting products and services; intelligent kiosks solution, educational information technology infrastructure, including school management automation and access control system. The Company has over 10 offices in China with a team of IT practitioners over 800 talents.
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Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Titanium Group, Ltd. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
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The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.