TUCSON, Arizona, Dec. 16, 2003 (PRIMEZONE) -- Environmental Technologies, Inc. (Pink Sheets:EMTI) is pleased to announce completion of the first stage of an ongoing, multi-stage funding package that will finance product development and commercial market introduction of the Company's Kinder Finder and related Finder technology-based products.
The Company is also pleased to announce that Computer Guard, a spin-off of its Gadget Finder technology, will be fast-tracked for a nationwide market introduction early in 2004.
Mr. John Hedges, President of Environmental Technologies, noted, "final testing of Computer Guard, which addresses a multi-billion dollar computer theft market, will commence within three weeks and, if test results are as positive as we anticipate, the Company foresees an early product launch, possibly before the end of the first quarter."
Laptop Computer Theft - Epidemic Proportions
An estimated 1,600 laptop computers are stolen every day in the United States! The FBI estimates that 97% of stolen computer equipment is never recovered. The value of all stolen computer hardware ($5 billion annually), is just the tip of the iceberg ... Valuable data contained on stolen laptops is estimated by Safeware Insurance (a major computer insurer) to be several times the value of the computers themselves (i.e. $15 billion in 1997 but much more today!). Laptops account for an estimated 80- 90 % of total computer hardware theft.
EMTI's Computer Guard System
Consisting of an on-board electronic device, a remote key (a synched RF transmitter), and software that provides both back-up access and initiating protocols, Computer Guard will automatically shut down the host unit, freezing the hard drives and locking out entry to anyone but the authorized user. Essentially, the Computer Guard System protects the user's information by rendering the computer useless whenever the authorized user is away from the machine. Importantly, the Company's Computer Guard System will retail for approximately $50.00, an extremely attractive price when compared to most laptop security devices in the marketplace.
Environmental Technologies' products currently being developed for specific market applications include short and long-range detection devices that can be hidden in clothing, or on valuables, and that will emit signals to loved ones or owners of articles. The technology provides a capability that is ideal for families living in fear of their children being kidnapped, or of having elderly family members, suffering from dementia or any other form of memory loss, wander off aimlessly without their loved one's knowledge. Alarmingly, kidnapping in North America has risen to an all-time high of over 800 persons per day! The introduction of a device that will be embedded in credit cards, passports, etc, to thwart theft and quickly locate lost cards is expected to follow. We believe that our product range admirably addresses these growing security needs, and that the marketplace will enthusiastically receive them as they are introduced.
The statements made in this press release, which are not historical facts, contains forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward - looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward - looking statement.