CITY OF INDUSTRY, Calif., June 14, 2007 (PRIME NEWSWIRE) -- Global ePoint, Inc. (Pink Sheets:GEPT), a leading manufacturer of security technologies for the aviation, law enforcement, commercial and industrial markets, today announced the appointment of Daryl Gates as its new Chief Executive Officer (CEO).
Daryl Gates was acting President of Global ePoint, Incorporated and also held the position of Chairman of the dynamic Global AirWorks division. Gates replaces CEO Toresa Lou, who submitted her resignation effective Friday, June 15, 2007, indicating her desire to pursue other interests at this time.
"Toresa Lou played a magnificent role in bringing a constant flow of new and creative cutting-edge technologies to Global ePoint...and we are deeply indebted," notes Daryl Gates. "She has graciously offered to continue serving both on the company's Board of Directors and as a prized international business consultant, utilizing her extensive contacts and expertise in behalf of Global ePoint all throughout the Far East and particularly in China."
As former Chief of the Los Angeles Police Department, Daryl Gates brought innovations to the LAPD that ultimately changed law enforcement worldwide. His achievements include founding D.A.R.E., the renowned "Drug Abuse Resistance Education" program -- educating children about the dangers of substance abuse -- and creation of the SWAT (Special Weapons And Tactics) concept, which trained specialized units to deal with hostage rescue and extreme situations involving armed and dangerous suspects.
Drawing on his extensive knowledge of law enforcement and homeland security issues, Daryl Gates brings proven leadership, skilled organizational techniques and seasoned insight to the exciting high technology spectrum of Global ePoint.
In a press release dated May 23, 2007, Global ePoint set forth a series of bold initiatives designed to accelerate and propel near term profitability. They include: Immediate and significant reductions of operating costs; Strategic divisional restructuring; Streamlined executive management for cost-effective growth in international markets; and focusing additional corporate resources to grow the company's premier division -- Global AirWorks.
To date, and in the foreseeable future, the Global AirWorks division provides the greatest opportunity for rapid lucrative growth and substantial profitability -- as evidenced by an initial $8.2 to $9.2 million contract signed with another prestige world carrier, Thai Airlines, to create a fully-integrated Electronic Flight Bag (EFB).
"Global AirWorks is also actively pursuing numerous other large contracts and is hopeful the FAA will soon issue its long-delayed ruling on the Flight Deck Monitor and Crew Discreet Alerting System for all domestic passenger aircraft," notes Daryl Gates.
"Global AirWorks has FAA approval (STC) to install its Cockpit Door Surveillance System (CDSS) on all types of passenger aircraft, and will be ready to install whenever the ruling is issued," he states. "It is another example of Global ePoint's dedication to aggressively pursuing, and winning, new business... while simultaneously reducing overhead and eliminating various unprofitable aspects of its current operations."
Summarizing, Chief/CEO Daryl Gates adds, "On my watch, LAPD evolved and was considered the best in the world. We were a department that people came from all over the world to study, to look at, to see how we accomplished so much with so little."
"I look forward to the creation of another enviable legacy -- with today's... and tomorrow's... Global ePoint," he states. "It too is poised for vast international recognition and well deserved leadership."
About Global ePoint
Global ePoint designs, manufactures, sells and distributes digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology, 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. 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. Such statements include, but are not limited to, the Company's plans to (i) introduce cost cutting initiatives, (ii) conduct structural changes in its Tops Digital Technology division, (iii) conduct significant changes in the Company's executive management team, and (iv) obtain economic benefits from the aforementioned actions. Such forward-looking statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, (v) whether and when government mandates are implemented and individual decisions on the part of the world's airlines to install CDSS systems, (vi) whether significant cost savings will result from the planned strategic initiatives and other changes and whether those cost savings will accelerate Global ePoint's progress toward profitability, and (vii) the Company's ability to obtain additional working capital as and when needed. For a discussion of these and other factors that may cause actual events or results to differ from those projected, please refer to the Company's most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.