NEW YORK and ZURICH, Switzerland, Jan. 6, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate.
Ernest C. Schlotter, research analyst with Investrend Research Affiliate SISM Research will be initiating coverage of OPENLIMIT, INC. (OTCBB:OPLM).
OPENLIMIT, INC. owns 100 percent of OPENLiMiT Holding, AG, a leading Swiss developer of the OPENLiMiT Package that consists of a smart card that includes a digital signature with payment and credit functionality over the Internet. The OPENLiMiT card reader and the OPENLiMiT SignCubes Software, constitute a personal security application with which documents and data can be signed and encrypted in compliance with the European digital signature guidelines.
OPENLiMiT distributes through a network marketing system using independent distributors. The Company believes that network marketing is an effective way to distribute its products because it allows a person-to-person product introduction not readily available through traditional distribution channels.
After more than 2 1/2 years of product development OPENLiMiT Holding, AG entered into an agreement in May, 2003 with T-Systems International, GmbH, a subsidiary of Deutsche Telekom AG. T-Systems provides the OPENLiMiT smart card as well as support and services in relation to the trust center services and the digital signature certificates. Specific multi-level marketing software for the purpose of distributor registration and commission, sales order processes and inventory control as well as management, have already been successfully implemented from a third party provider.
The preliminary marketing phase in Switzerland and Germany was successfully launched on August 22, 2003 with the primary goal being to achieve optimization in processes and IT, logistics, network marketing and office infrastructure. Revenues of approximately $240,000 were achieved to September 30, 2003. The official marketing launch in Switzerland & Germany will be on January 17/18, 2004.
SISM Research, based in Zurich, Switzerland, is a private investment research firm offering high-quality, independent, fundamental research on public companies since 1995. SISM writes, publishes and distributes investment research coverage, in both English and German, on micro- to small-cap public companies trading on the OTC Bulletin Board, NASDAQ and AMEX. This coverage is geared toward institutional and individual investors in both North America and in German-speaking Europe, a market that represents more than 100 million people. SISM Research is a content provider to Thomson Financials OneAnalytics/FirstCall, to Multex, Datamonitor and InvesTrend. SISM Research is a member of the FIRST Research Consortium, an association of the world's leading independent fee-based equity research firms.
The company paid SISM Research a retainer of $6,750, plus $1,750 per month over a two-year period to provide independent coverage.
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