Science & Technology
Science and Technology
Science and Technology
Mon, November 2, 2009 Infrastructure Initiatives Spur New Name and Vision for OptiCon Systems as 'INFRAX Systems, Inc.'
ST. PETERSBURG, FL--(Marketwire - November 2, 2009) - OptiCon Systems, Inc. (
"The Board of Directors approved the change of our name from 'OptiCon Systems, Inc.,' to 'INFRAX Systems, Inc.,' to reflect our strategic growth into the Infrastructure market," said Paul Aiello, CEO of Opticon Systems, Inc. The name change will be effective upon the approval of the State of Nevada. The Company will also be issued a new trading symbol by FINRA when the name change becomes effective. Further information will be provided upon the completion of the name and symbol change process. This should not be construed as a change of control or a sale.
"'OptiCon' is a name synonymous with the dominance of CORNING Cable, Inc. as it pioneered the fiber optic network industry, and will remain the name of our Telecommunications Network Manager product. Along with our commitment to make PowerCon Energy Systems a leader in the Energy software market, we have expanded our vision to provide solutions to facilitate Infrastructure investments that will ignite the next generation of technological innovation," Aiello continued.
"The U. S. Department of Energy's 'Smart Grid' and 'Smart Meter' initiatives have stimulated exponential revenue potential for our products that have not existed in recent years for 'OptiCon Systems.' As 'INFRAX Systems,' we will contribute to the nation's revitalization, initially through our Wide Area Monitoring Systems (WAMS) family of products, under development by our PowerCon Systems subsidiary, and expand into a diversity of Infrastructure segments with new products," stated Tessa Lander, EVP/COO of Opticon Systems.
"Municipalities nationwide will receive funding that will allow them to invest in the management of their fiber networks by installing OptiCon Network Manager. By focusing our marketing resources on the Telecom vertical market, and our development resources on the WAMS product for Energy's Smart Grid applications, we will aggressively pursue this immediate revenue potential and build our pipeline for the future," said Aiello.
"While the company previously contemplated selling the R4 technology platform," Aiello continued, "INFRAX Systems, Inc. will retain and continue to develop the R4 technology under the guidance of Jacques Laurin, the product's founding Architect. This approach is clearly more beneficial to our shareholders."
"The 'INFRAX Systems' identity is representative of the vision of our new executive team," said Malcolm Welch, Opticon Systems' Chairman. "The evolving company structure will allow for independent and simultaneous development of vertical market opportunities with distinct revenue streams and channels of distribution."
About OptiCon Systems
OptiCon Systems, Inc., through its subsidiary, provides Wireline, Wireless and fiber optics network management solutions offering proprietary state-of-the-art software, professional services and integrated systems. OptiCon Systems have been in use by companies seeking the best solution in managing their networks for the past 10 years. The company's software solutions automate all aspects of the physical and logical layer management, fault detection and delivery of information. The scalability of the software systems permits the Company to target large communications and telecom companies servicing millions of global customers to medium-sized companies managing a single facility. Besides OptiCon Network Manager (ONMS), the company will soon offer PowerCon Energy Systems (PES) that is designed to manage large power networks and facilities for power and alternative energy companies globally. The PES/ONMS isolates (power/fiber) cable cuts, breaks, and faults, and service degradation and other power and optical events to within plus or minus five feet of the event, and produces a global positioning system location for the outage to an approximate five foot section of cable.
For more information, please visit [ www.opticonsystemsinc.com ].
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
