Accident Prevention Plus Announces the Completion and Successful Testing of the Company's Newest Technology - TSTI Interface
JUPITER, Fla.--July 22, 2004--Accident Prevention Plus, Inc. (OTCBB:ACPL) completed the extensive, year-long research and development and successful testing of its TSTI Interface, supporting the CAN (Controller Area Network) ISO 11898 protocol. This week, the new product is being prototyped involving a "shrinking" process to make the unit's size smaller, allowing for a much larger market reach. The TSTI Interface is anticipated to be finished this late stage testing and be ready to launch on the market within 6 weeks.Accident Prevention Plus, Inc. designs, develops, and markets a comprehensive line of onboard computer recording systems and fuel monitoring systems for commercial and fleet vehicles. These systems 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, maintenance purposes and GPS capabilities are available as one of many options.
Jennifer Swanson, CFO of Accident Prevention Plus states, "We are excited to be successfully hitting final stage benchmarks in our research and development process. Management has personally contributed a considerable amount of financial resources and the engineers have spent hundred's of hours in designing and testing this new product.
The TSTI Interface supports the CAN (Controller Area Network) ISO 11898 protocol. Controller area networks were first developed for use in automobiles, and are composed of a serial bus network of microcontrollers that connects devices, sensors and actuators in a system or sub-system for real-time control applications. These applications can be equipped with an array of sensors, which the network is then capable of monitoring the systems, that the automobile depends on to run properly and safely.
Meeting this CAN ISO 11898 protocol is essential since many domestic and foreign vehicle manufacturers have implemented these new standardizations in makes and models from 2002 thru 2004. Swanson commented, "Meeting these standards allows our new product to expand our marketplace to every automobile user and owner worldwide, in addition to our existing clients. In addition to standardization idiosyncrasies previous products although well-accepted, were cost prohibitive for large scale basis. We now have the ability to sell this product at about a 75% discount from our previous product with installations capable of being completed by any individual in about one minute."
At this time, management is not aware of any other company offering this type of product meeting this CAN ISO 11898 protocol, besides Accident Prevention Plus. Management feels it has effectively positioned the company to capitalize on being the "first to market" this new product into moving vehicles of all makes and models of trucks, autos, buses, school buses, coaches, parcel carriers.
Alan Schwartz, President and CEO of Accident Prevention Plus states "The wide array of benefits of this new product, including the prevention of loss of life and property to private, commercial and governmental customers is enormous. After seeing what we have already created, and knowing what we plan to accomplish with this new product in the market, I am very confident we can grow into a profitable company in the high growth, monitoring systems market.''
Accident Prevention Plus plans to begin marketing this next generation TSTI Interface product in this present 3rd quarter 2004 through four combined sales outlets and arenas, which are ,infomercial sales, retail sales, print media sales and direct/web sales respectively. The company anticipates revenues for the product in these combined arenas to be approximately $787,300 in 3rd Quarter 2004, $1,824,100 in 4th Quarter 2004, $4,621,250 in 1st Quarter 2005 and $10,487,500 in 2nd Quarter 2005. While there can be no assurances that Accident Prevention Plus will hit these sales projections, management feels that with an estimated market size of 1.8 billion automobile owners in the United States, our estimated production numbers based on capturing about .0001% of the marketplace, are obtainable targets.
Motor Vehicle Accident Statistics
Most experts have found that 10% of all motor vehicle accident victims become disabled.
According to the National Safety Council, there are more than 12 million motor vehicle accidents annually including more than 20 million vehicles. This results in over 5 million nonfatal accidents annually of which approximately 2 million are disabling injuries including 1 million work related auto disabling injuries.
According to the Insurance Research Council, the cost associated for injuries sustained in motor vehicle accidents are broken down as follows:
-- 63% of injuries are paid by the injured individuals own insurance company
-- 55% of injuries are paid by the auto insurance of another vehicle
-- 36% of injuries are paid by health insurance
-- 20% of injuries are paid by government programs
-- 19% are paid by worker's compensation
-- Almost 60% of injuries have 2 or more sources of payment
According to the US Department of Transportation, in the year 2000, the total economic cost of motor vehicle crashes in the United States was $230.6 billion. This represents the present value of lifetime economic costs for 41,821 fatalities, 5.3 million non-fatal injuries, and 28 million damaged vehicles. These figures include both police-reported and unreported crashes.
Keeping these statistics in mind of fatal and disabling automobile accidents, Accident Prevention Plus, Inc. feels more than ever that the time is right for the introduction of a low cost - high performance product that will assist with the improvement of safety on the roads to day and the prevention of these critical accidents.
Accident Prevention Plus, Inc. (ACPL) located in Palm Beach Gardens, FL, is a technology company which designs, manufactures and distributes On Board Recorders for all types of vehicles. The Company specializes in the safety, economic enhancement and security for vehicles, drivers and cargo. Our products are sold worldwide. Our engineers design all our software and firmware, as well as any hardware we require. Accident Prevention Plus, Inc. owns all of its intellectual properties. For IR package call 561-741-4450.
This press release contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations of beliefs and are subject to a number of factors and uncertainties that could cause actual results, levels of activity, performance or achievements to differ materially from those described.