SARASOTA, Fla., Oct. 20 /CNW/ -- GPS Industries, Inc. (OTC Bulletin
Board: GPSN) the leading provider of WiFi enabled golf Management systems
announced today that it is sending to its shareholders the following update on
certain of its activities.
"As you may be aware, GPSI has recently transitioned to a new management
team. During the recent adjustment period the company saw a drop in share
price, along with a general uncertainty about the future of the company. I am
writing this shareholder update to assure you that the company now has a great
new management team, along with decreased operating costs, better margins and
increased profitability, and a specific plan to achieve dramatic new revenue
A great company begins with great people, and I am pleased to announce
that the company's new management team is now completely in place, starting
with myself as the new CEO. Kevin Carpenter is the new V.P. of Sales. And we
are finalizing the terms with our new President -- COO and CFO. More
information about the new management will follow in public press releases, but
let me assure you right now, we have great talent in all areas of this company
with this new management team.
GPSI's new management is now focused on a three-fold strategy to achieve
profitability. First, we are aggressively decreasing our operating costs by
merging our operations into a single new company headquarters located in
Sarasota, Florida, while simultaneously downsizing our Vancouver and Austin
offices. We feel this consolidation will substantially lower our operating
costs, and eliminate redundant and wasteful spending.
Secondly, the company is actively and currently seeking partnerships to
pursue growth opportunities in the worldwide direct-to-consumer GPS market.
Whereas our products in the past have focused exclusively on
business-to-business GPS/WiFi solutions, we are now focused on dramatically
expanding our market presence with services and products aimed at the consumer
hand-held GPS market. This includes aggressively defending our worldwide
patents on golf related GPS applications, including golf related advertising
patents covering cart-based and handheld GPS devices. In conjunction with
this, we have recently announced lawsuits against ABC Media and Prolink, among
others, who we believe are in direct violation of our company's patents.
The third piece of our strategy is increasing our profit margin. Over
the last 100 days, GPSI has worked diligently towards achieving substantial
savings on the costs of components, all the way through manufacturing and
including installations. This will result in much better overall margins for
the company. The results of these savings will start to be shown in the 4th
quarter numbers and will be fully in place by 1st quarter 2009.
Lastly, we have doubled our focus on sales, resulting in sales revenue
increasing an estimated 100% over 2007. We strongly believe that with the
economic credit crisis facing the world today, our finance relationship with
Green Tulip will stabilize GPSI and elevate us as the only sound GPS choice in
the GPS market place.
Management is confident that GPSI is now heading in the direction of
growth and profitability with out new management and new strategy. More
details will follow in our press releases and SEC filings. We thank you for
your continued support of GPSI, and we believe your confidence in the company
will increase decisively in the months to come."
ABOUT GPS INDUSTRIES, INC.
GPS Industries, Inc. (GPS) develops and markets GPS and WiFi multimedia
solutions to enable managers of golf facilities resorts, and residential
communications to improve operational efficiencies and generate new revenue
streams. The Company's informer(R) Management Solutions product line provides
integrated software applications and high-resolution cart mounted display
panels that vividly illustrate each hole, providing precise distance
measurement information, strategic playing tips and targeted advertising
messages to the golfer while enabling the course with state-of-the-art
management capabilities such as cart tracking, food and beverage service, and
tournament sponsorships. The patented system is seamlessly connected via a
high-speed WiFi network that enables the entire facility into a wireless hot
spot. GPSI now has an installed base of over 320 active course installations
worldwide. For additional information, please visit
Some statements contained in this release may be forward-looking with in
the meaning of the Private Securities Litigation Reform Act of 1995. Editors
and investors are cautioned that such forward-looking statements involve risks
and uncertainties that may cause the company's actual results to differ
materially from such forward-looking statements. These risks and
uncertainties include, but are not limited to, the Company's ability to
generate revenues, secure financing, achieve sustained profitability, and
other factors as described in the Company's literature and filing with the
Securities and Exchange Commission.
For further information:
For further information: David Chessler, Chief Executive Officer of GPS
Industries, Inc., +1-604-576-7442, IR@gpsindustries.com Web Site: