Accident Prevention Plus Previously Under Symbol "ACDP" Announce Reverse Split And New Symbol "ACDT" To Position Company For AMEX Listing
PALM BEACH GARDENS, Fla.--Nov. 26, 2001--Accident Prevention Plus OTC BB: ACDT that recently announced a long-term research and development alliance with Carnegie Mellon Driver Training Safety Institute expects to qualify for American Stock Exchange listing within the next fiscal year.ACDT President and CEO Jean Claude Perche stated "Events of the recent past should have a dramatic impact on the financial condition of our Company. To increase investor awareness and maximize shareholders equity ACDT has begun preparation to list our common stock for trading on the American Exchange. To satisfy a condition for listing, effective November 26, 2001, the Board of Directors has authorized a one for ten reverse split, reducing the outstanding number of ACDT shares from 18,128,196 to 1,812,820 shares. Perche noted that this was the first strategic action necessary to expedite listing.
The Company designs, develops, markets and sells a comprehensive line of onboard computer recording systems, the APP1000, APP2000, and the APP3000 (herein after called the AP+ Series). Based on the smart card technology, currently used as an individual Identification card and a portable database, the AP+ Series of products include:
- | an "On Board Recorder" that monitors and records data for accident prevention, driver training and evaluation, and maintenance operations for fleets of vehicles, |
- | a range of sensors designed and developed by the company such as the "dual axis accelerometer" to measure the sway of the vehicle, the "fuel gauge sensor" to detect fuel theft and a "throttle sensor" to measure the position of the gas pedal to name a few. |
- | A range of "MS Windows(TM)" compatible software allowing data analysis in both the driver evaluation and training as well as the general fleet management fields of application. |
The basic unit hardware is the same for the three series, although the APP2000 and APP3000 series have upgrades and will perform more functions to meet the requirements of the customer. The AP+ Series were designed to promote safe and efficient driving practices, provide security for unauthorized operational use of a vehicle, automatically monitor and record vehicle operational data for accident prevention, driver training, driver evaluation, and maintenance purposes and reduce the overall costs of maintaining and operating fleet vehicles. Each of the AP+ Series include a data recorder for each fleet vehicle, a smart card for each driver, a central card-reader with management computer software which is compatible with Microsoft Windows.
Statements contained in this release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, and are made subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements including, but not limited to, statements about expected future events and/or financial results, invoke risk and uncertainties and that actual future events and/or the Company's actual results may differ materially from such forward-looking statements. Such risks and uncertainties include, but are not limited to, the Company's ability to develop new business in the area of entertainment, television production, direct marketing and Internet content, its ability to attract and retain key personnel, its ability to finance its plans for growth, general economic conditions and other factors discussed in such forward-looking statements and/or the Company's periodic filings with the Securities and Exchange Commission.