MONTREAL, May 7, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY), developer of the real-time, item-level intelliTRACKER(tm) Inventory Tracking solution, provided an update today regarding the growth of its sales funnel. Through the NRF show in New York this past January and several subsequent customer/partner events, momentum behind the sales effort has intensified dramatically as anticipated. Given solid in-store performance and the positive results of Proof-of-Concept phases conducted with a range of clients, several large National retailers are moving ahead to formalize their interest in proceeding to the next step towards adopting the solution, propelling the value of the sales funnel beyond $65 million.
The Company added that the list of qualified sales opportunities derives from a diverse customer base that spreads from specialty retail chains to department stores, all of whom have notably demonstrated industry leadership in adopting new technologies. They are particularly drawn to the exceptional ROI and short payback which is largely the result of substantial cost savings.
The Company is anxious to be in a position to announce specifics later this quarter.
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.
AbsoluteSKY's Safe Harbor Statement
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.