MONTREAL, Aug. 14, 2007 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY), developer of the intelliTRACKER(tm) RFID-based product suite, provided status to shareholders today. The activity update comes in the wake of launch installations of its real-time inventory tracking system at key early-adopter sites earlier this Spring -- notably one with Staples Business Depot, the world's largest office products company, who implemented the intelliTRACKER(tm) system at a Canadian store in May 2007 via contract with Fujitsu Transaction Solutions, AbsoluteSKY's reseller and strategic partner.
"It's been a busy and rewarding summer for us," affirmed Mr. John Frabasile, President and CEO of AbsoluteSKY. "Following a straightforward installation and smooth transition over to Staples store personnel in May, the intelliTRACKER(tm) system immediately went live and has been reliably tracking tagged merchandise ever since. Results from Staples' operational experience with the system are expected to be made public very soon. In the meantime, suffice to say, we have been extremely pleased with how this project has been going," he said.
Mr. Frabasile noted that the Company has been very thankful to Staples Business Depot for allowing AbsoluteSKY and Fujitsu to expose the system to other retailers, many of whom are actively discussing similar projects with AbsoluteSKY over the near term. Announcements on that front are also expected soon. In the meantime, the Company remains focused on laying the groundwork, including the preparation of documentation, training courses and logistics, for anticipated large-scale orders.
AbsoluteSKY introduced the powerful intelliTRACKER(tm) Product Suite to the retail market as part of the Fujitsu Transaction Solutions exhibit at the National Retail Federation Show in New York during January 2007. The intelliTRACKER product suite features real-time tracking of individual inventory items at the store level and across the supply chain, ultimately negating the need to conduct regular physical inventory counts while providing mission-critical information that can be used to tackle out-of-stock situations and locate inventory across several pre-defined zones. The re-usable, long-range RFID tags automatically report item-level inventory data at ranges of over 100 feet and are monitored everywhere and at all times within a given retail location. The system also delivers a Loss Prevention component that provides alerts when tags are subjected to tampering or when inventory improperly enters or exits specific user-defined zones.
In closing, Mr. Frabasile asserted that in the face of current successes and anticipated developments over these next several months, the Company is well on track to realizing its enormous potential of becoming a high-growth, revenue-generating, world-class company while creating deserved value for its shareholders.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency IDentification (RFID) technology that provides 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.