MONTREAL, April 9, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY), developer of the item-level intelliTRACKER(tm) Inventory Tracking solution, announced today that following a recent sales swing, the Company received positive indications from national retailers with serious intentions to adopt the technology and to immediately proceed with initial paid installations. One major customer has committed to an installation next month to provide rapid proof of concept prior to proceeding with initial installations in select stores. The overall intention would be for a national roll-out to commence later in this year.
Another national retailer has encouraged the Company to take the technology to the next stage to meet its specific needs. AbsoluteSKY is mapping out steps to address this opportunity which will benefit a broader range of retailers. "To enhance the solution is not a major undertaking and has been part of the Company's plans," commented John Frabasile, President and CEO. "Having a motivated customer behind this enhancement is the best way to go." The Company could start to benefit from this opportunity within a year.
AbsoluteSKY hopes to be able to announce specific details later this quarter. Most customers are reluctant to participate in announcements particularly prior to the conclusion of contracts.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of new-generation Radio Frequency IDentification (RFID) based technology solutions that provide real-time item-level inventory tracking for retail customers. Based in Montreal, Canada, the company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: www.absolutesky.ca.
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Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.