LOS ANGELES, Nov. 3, 2004 (PRIMEZONE) -- Digital Learning Management Corporation (OTCBB:DGTL), a provider of private post-secondary education and supporting Internet-based learning systems, recently announced that it had released its new Virtual University Appliance (VU), a hardware and software all-in-one solution for creating and deploying e-learning portals, environments and ecosystems.
Digital has already received commitments for over $75,000 of VU Appliance product, representing 5 units. Sales forecasts for the VU Appliance indicate potential to sell upwards of 500 units per year, which could result in revenues of over $12.5 million to the company for the lower end version and approx. 500 units of the higher end version resulting in approx. $28.0 million in revenue.
Zeb Bhatti, CEO of Digital commented, "We are extremely pleased with the reception that our innovative turn-key e-Learning product received. The Conference attendees indicated strong interest in the product and we believe that we have created a solution that will fill an important and potentially lucrative niche in the e-learning space."
He added, "Most organizations embarking on e-learning know that cost of entry, time to implement, ease of use and reduced on-going costs are major data points in decision making for e-learning solutions. We believe our all-in-one solution addresses these issues head-on."
Digital has eight salespeople currently working on the marketing and sale of the VU Appliance. The company anticipates strong demand due to the attractive price point of the product, which is between $18,000 and $50,000 per unit.
About the VU Appliance
The VU Appliance is a complete state-of-the-art hardware and software solution incorporating the company's CourseMate Virtual University system. The system, or 'appliance' as it is referred to, allows traditional brick and mortar educational institutions and commercial organizations to create a virtual e-learning presence from scratch. The appliance, which is a standard 1U rack mounted device, can be placed in the client's location behind their firewall or housed and managed at Digital's facility. The system accepts content created in multiple formats and presents that content over the Internet or intranet.
More information is available by contacting the company directly. CourseMate information is available on the web at: http://www.coursemate.com.
About Digital Learning Management
Digital Learning Management Corporation is a provider of private post-secondary education and support systems in North America. Its education institutions offer a broad range of academic programs in Information Technology, Business & Management, Telecommunications and other Applied Industrial Technologies, culminating in the award of certificates through Bachelor degrees. With its proprietary Web-based Campus Management System (CourseMate Virtual University System), its learning institutions are able to seamlessly implement a 'Blended Learning' environment and provide a powerful learning experience, whether in a traditional classroom setting or delivered directly to a desktop computer. The CourseMate Virtual University System is an end-to-end Campus and Learning Management platform that leverages the Internet to fully integrate all aspects of education, resulting in a profoundly effective way to instruct and learn.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.