MSGI Security Solutions granted worldwide License for GPS tracking
VANCOUVER, BRITISH COLUMBIA, December 5 /CNW/ - Current Technology
Corporation (OTCBB: CRTCF) today announced that it has entered into a
non-binding letter of intent to purchase 51% of Celevoke Inc. ("Celevoke"),
distributor of a proprietary global GPS tracking technology developed by
LunarEYE. As evidenced by its recent patent infringement victories, LunarEYE
owns seminal patents critical to the efficient operation of asset monitoring
and management systems worldwide. As a value added distributor of the LunarEYE
GPS tracking technology, Celevoke owns and operates a robust Internet portal
that provides asset owners/operators the ability to track and manage their
assets from remote locations in real time.
MSGI Security Solutions (OTCBB: MSGI), a homeland security company based
in New York specializing in proprietary wireless surveillance technology, will
be granted a worldwide license to distribute the GPS tracking platform. MSGI
has established relationships within the intelligence and military community,
particularly through the US Dept of Homeland Security and US Department of
Justice as well as commercial security channels. MSGI plans to introduce the
technology in January as an extension of its existing platform for the
surveillance and protection of critical infrastructures.
Robert Kramer, chairman and CEO of Current Technology commented, "As
evidenced by our June news release, our initial intention was to distribute
Celevoke's GPS tracking technology worldwide on a non-exclusive basis. The
more we learned, however, the clearer it became our shareholders would benefit
significantly from a more substantive involvement. While we are not in a
position to guarantee the outcome, we are hopeful that the acquisition can be
completed within 30 days. We intend to announce the details of this
transaction upon its close. Our new partnership with MSGI Security Solutions
will bring an immediate impact to Current Technology as MSGI leverages its
existing clients and business associates to jump start our expansion into the
asset tracking business."
LunarEYE, based in Liberty, Texas, is a leading edge M2M (machine to
machine) wireless solution provider and developer with products centering on
its patented location based technology. LunarEYE has appointed Celevoke its
distribution company, with the right to appoint sub-distributors. Celevoke
sells state of the art branded asset tracking web sites, patented GPS tracking
systems and various other wireless hardware devices. Worldwide wireless
networks, maps and data services are also included in the economically bundled
packages that are sold exclusively through authorized distributor networks.
For further information, please go to http://www.lunareye.com.
About MSGI Security Solutions, Inc.
MSGI Security Solutions, Inc. is a leading international provider of
proprietary security solutions to commercial and government organizations.
MSGI is developing a combination of innovative emerging businesses that
leverage information and technology with a focus on encryption technologies
for actionable surveillance and intelligence monitoring. The Company is
headquartered in New York City where it serves the needs of counter-terrorism,
public safety, and law enforcement in the United States, Europe, the Middle
East and Asia. More information on MSGI is available on the company's website
The news release contains forward-looking statements regarding future
events and the Company's future results that are subject to the safe harbors
created under the Security Act of 1933, as amended, and the Securities
Exchange Act of 1934. These statements are based on current expectations,
estimates, forecasts, and projections about the industries in which the
Company operates and the beliefs and assumptions of the Company's management.
Words such as "expects", "anticipates", "targets", "goals", "projects",
"intends", "plans", "believes", "seeks", "estimates", "continues", "may",
"will", variations of such words and similar expressions are intended to
identify such forward-looking statements.
For further information:
For further information: CORPORATE: Current Technology Corporation
Robert Kramer, 1-800-661-4247 or MSGI Security Solutions, Inc. Jeremy Barbara,
917-339-7134 Chairman & CEO email@example.com or INVESTOR RELATIONS:
Polestar Communications Richard Hannon, 1-866-858-4100 or Grannus Financial
Advisors, Inc. Yvonne L. Zappulla, 212-681-4108 Managing Director