DICUT, INC. Announces a Refocused Business Plan and Corporate Strategy
Tuesday January 20, 3:16 pm ET
MARIETTA, Ga., Jan. 20 /PRNewswire-FirstCall/ -- DICUT, INC. (OTC Bulletin Board: DCUT - News) an advanced security solutions provider, today announced details of a new, refocused corporate strategy to move the Company forward through 2004. Having spent the last 30-days fine tuning the corporate business plan and forward strategy, DICUT'S CEO, Raj Kalra, has released details of how and where the Company will be focusing, its efforts. DUCUT's two main areas of focus will involve its unique ACS Multimodal biometric product line and the acquisition strategy to augment the Company's existing security offering.
The ACS Multimodal product is a complete access control system utilizing innovative dual biometric security. DICUT's Aurora Biosecurity Solutions division is targeting the government and commercial sectors for integration of the ACS Multimodal product-line.
The focus in the government sector will consist of passport and border control as well as Public building security. The commercial sector focus includes building and office security, visitor passes and event security. Market estimates predict total spending on access control will grow to $3.3 billion next year. Of that, $600 million will be spent on biometric and biometric security. The Government has earmarked $20 million for biometric, small business set-asides.
To augment the existing ACS Multimodal security line, DICUT is actively seeking acquisition targets and opportunities. The newly implemented acquisition strategy will focus on merger or acquisition opportunities that represent the potential to generate positive cash flow and profitable operations for the Company. Acquisition targets will include companies with revenue greater than $5 million dollars per annum as well as a positive EBITA. To date, the Company has identified several potential acquisition targets and has commenced negotiations.
"2003 was an exciting year for DICUT, INC.," said Raj Kalra, Chairman and CEO. "With our acquisition of Aurora Biometrics and the introduction of the ACS Multimodal security line, we are poised to deliver an innovative security solution to both the public and private sectors resulting in positive cash flow and strong financial performance for our shareholders. I felt, however, that we needed to take a step back and refocus our efforts in order to deliver those results. With the new corporate strategy in place, I am confident that the Aurora Biosecurity division will be successful in taking our innovative security solutions to market and we will be able to acquire a company that compliments our current product offering and help deliver to the bottom-line.
Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended that involve a number of risks and uncertainties. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as "expect," "anticipate," "could," "would," "will," and "may" and other words of similar nature. There are certain important factors and risks that could cause results to differ materially from those anticipated by the statements herein. Such factors and risks include the successful completion of aforementioned acquisitions and ongoing developments of the core business model, the business conditions and growth in related areas of biometric and biometric security, and in the economy in general. Competitive factors include the rapid pace of alternative technology advancements and the Company's ability to gain market acceptance of its evolving products. Other risks may be detailed from time to time in our filings with the Securities and Exchange Commission. Neither DICUT, INC. nor its subsidiaries undertake any obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.
For Further information about this release and the business at DICUT, INC., contact: Pierr Quilliam of DICUT, INC., +1-770-795-9955, fax: +1-770-795-9222, email@example.com; or Rich Kaiser of YES INTERNATIONAL, +1-800-631-8127, for DICUT, INC.