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dalton05
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News for 'SMTR' - (SmarTire Announces Selection by Major American Coach Fleet Coach USA Commits to outfit fleet with SmarTire TPM systems.)


RICHMOND, British Columbia, Canada, Nov 07, 2007 /PRNewswire-FirstCall via COMTEX/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that Coach USA has selected SmarTire as its fleet TPMS provider. Effective immediately, Coach USA will require that new coaches ordered from all manufacturers be equipped with SmarTire's tire pressure monitoring systems. Coach USA also plans to immediately begin retrofitting its existing fleet of more than 1,500 motor coaches and has placed an initial order for this purpose.

SmarTire's active TPMS has been designed to enable fleet operators to efficiently maintain top tire performance, reducing tire failures, roadside downtime, fuel consumption and tire costs while increasing passenger and driver safety and confidence. The SmartWave TPMS, which can be installed on any existing vehicle, displays each tire's temperature and pressure information. If the system detects a loss of air pressure or abnormally high tire temperature, a warning automatically alerts the driver to the condition.

The Coach USA application marks the first time that SmarTire's TPMS has been integrated with the Saucon TDS telematics system. This combination allows Coach USA to monitor, in real time, tire conditions on all of its coaches from remote locations using a web based tool. Not only is the system designed to provide early warning to the driver, but alerts can also be sent via e-mail and text message in real time directly to maintenance personnel on their PC or mobile device. "We believe the combination of the SmarTire TPMS with the Saucon GPS system should enhance safety and operational levels for our employees and customers," noted Dale Moser, COO of Coach USA.

Dave Warkentin, President of SmarTire, said, "This commitment and order is the result of over one year of development and road testing, and we believe that it successfully proves the value of our tire pressure monitoring products for fleet customers in the motor coach market. We are very pleased to have been selected by Coach USA, and we look forward to a long lasting, rewarding relationship."

For more information, visit http://www.smartire.com or contact Emily Philips, Walek & Associates at (212) 590-0527 or e-mail at ephillips*walek.com.

About SmarTire

SmarTire develops and markets proprietary advanced wireless sensing and control systems worldwide under the SmartWave(TM) trademark. The company has invested more than $100 million in R&D for its patented tire monitoring technology. It developed numerous patent-protected wireless technologies and has advanced tire monitoring solutions since 1987.

SmarTire offers large fleet, commercial, bus and recreational vehicles patent-protected, before- and after-market wireless technologies and advanced tire-monitoring solutions using its proprietary SmartWave platform. The platform provides a foundation for the addition of multiple wireless sensing and control applications. Initial product releases using the SmartWave platform include the
SmartWave(TM) TPMS, which leverages on SmarTire's background and knowledge in tire monitoring solution. SmarTire Systems maintains operations in North America and Europe. For more information about SmarTire Systems Inc., visit http://www.smartire.com.

About Coach USA

Coach USA owns over 20 local companies in North America that operate scheduled bus routes, motorcoach tours, charters, and city sightseeing tours. These local companies are each independently managed and operated to meet the specific needs of their local communities.

Coach USA is a subsidiary of the Stagecoach Group. Stagecoach is one of the world's largest bus, coach and rail groups with operations in the United Kingdom and North America. Stagecoach Group plc. Registered Office: 10 Dunkeld Road, Perth PH1 5TW, Scotland. Registered in Scotland.

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dalton05
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News for 'SMTR' - (SmarTire Reports 2007 Year End Financial Results Cash used in operations and investing activities decreases by $3.0 Million)


RICHMOND, British Columbia, Nov 09, 2007 /PRNewswire-FirstCall via COMTEX/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR), a provider of active tire pressure and temperature monitoring systems for the global commercial or truck, bus, recreational vehicle, and off highway vehicle markets, announced today that revenue for its fiscal year ended July 31, 2007 increased to $3,661,821 from $3,455,649 during fiscal 2006.

Net loss for the year decreased to $19.6 million or ($0.07) per share from $28.8 million or ($0.10) per share in fiscal year 2006. The decrease in the loss was mainly due to a decrease in non-cash interest charges of $12.0 million in fiscal year 2007 from $23.2 million in fiscal 2006.

Cash used to fund operating and investing activities in fiscal 2007 decreased to $5.1 million from $8.1 million in fiscal 2006. The decrease in cash used was primarily due to the closure of our European office, the reduction in the number of our employees by approximately 45% and the issuance of shares to settle debt. We anticipate that cash required for operating and investing activities in fiscal 2008 will decrease by another 50-60% of the amount of the cash used to fund operating and investing activities in fiscal 2007.

Operating expenses for the year increased to $7.7 million from $7.1 million in fiscal year 2006. The increase was primarily due to non-cash stock- based compensation expense of $682,000 in fiscal 2007 compared to a stock- based compensation recovery of $3.1 million in fiscal year 2006.

"Our objective is to make this Company profitable and we took a step in the right direction by reducing our burn rate by $3 Million for the year," said David Warkentin, President and Chief Executive Officer in announcing results. "We continue to reduce our burn rate as evidenced by our cash used during our fourth quarter, when we used cash of $672,918, a decrease of $227,122 from $900,040 during our third quarter. While I am extremely pleased that we have been able to reduce costs, I am still disappointed that revenues have not grown faster. Unfortunately, although we have not lost any business to our competitors, our customers' production implementation schedules have been slower than anticipated and are not an issue we can control."

"However, I am pleased with the progress we have made, especially our continued focus on our strategy, filing of our lawsuit against Siemens and Schrader, cost reductions and the strengthening of our supply chain as evidenced by our long-term supply agreement with GE Sensing. During this year, we landed several key customers, including John Deere, International Truck and Setra, a division of Daimler Chrysler.

SmarTire's detailed operating results are available in its Form 10-KSB, filed with the SEC, available online at: http://www.sec.gov. SmarTire's consolidated financial statements and all financial information contained in this release are stated in U.S. dollars and are prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP).

SmarTire's year end earnings call with shareholders will be held this Friday, November 9 at 11:00 a.m. EST. U.S. and Canadian shareholders can call 1-800-895-1085 and ask the operator to connect them to the SmarTire call. International callers may dial 785-424-1055.

Those who miss the call may listen to it through an mp3 file that will be posted at www.smartire.com.

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dalton05
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News for 'SMTR' - (SmarTire Secures Additional Financing)


RICHMOND, British Columbia, Dec 05, 2007 /PRNewswire-FirstCall via COMTEX/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that it has entered into two financing agreements with Xentenial Holdings Limited, a subsidiary of Yorkville Advisors, LLC, formerly Cornell Capital Partners LP.

On November 19, 2007, the company sold a convertible debenture for gross proceeds of $96,500.

On November 30, 2007, the company entered into an agreement providing for the sale of up to $1.15 million in convertible debentures. On November 30, 2007, SmarTire sold one convertible debenture under this agreement for gross proceeds of $422,000 and issued 225 million five year warrants exercisable into shares of its Common Stock at $0.0298 per share. The agreement provides that SmarTire may sell convertible debentures for the balance of up to $728,000 at any time until May 30, 2008 and issue up to 420 million five year share purchase warrants exercisable into shares of its Common Stock at $0.0298 per share.

Terms of both financings are disclosed in the company's 8-K filed today.

SmarTire intends to use the net proceeds of this financing offering for general corporate purposes, including working capital.

"We are extremely pleased that Yorkville has demonstrated its continued support of our strategy and vision and we anticipate receiving the balance of the funding within the next thirty to forty-five days," said SmarTire

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cactus33
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extremly pleased dealing with cornell??, azzhats SMTR, im in this pos, hoping for a bounce, im not sure what the point of this pr is except to tell everyone they have the dirtiest financiers on earth backing them, when you see pr's like this you really see just how freaking clueless these companies are about cornell/financing. The ceo would only have to glance at the death slide the pps has been on to see what these guys are up to. they might as well added in the pr. CLUELESS !

jmho

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dalton05
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What is going on with this keeps on heading down.
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