Accident Prevention Plus, Inc. announces prototype in final stages, newly signed distribution agreement and confirms the mandatory certificate exchange for upcoming name change to Transportation Safety Technology, Inc.
Accident Prevention Plus, Inc. announces prototype in final stages, newly signed distribution agreement and confirms the mandatory certificate exchange for upcoming name change to Transportation Safety Technology, Inc.
Jupiter, Fla – (PRWEB) September 22, 2004 Accident Prevention Plus, Inc.
OTCBB:ACPL announces today that the Company expects to have prototype available
in less than 3 weeks, which will coincide with the implementation of the new
product into many vehicles. At this point orders have come in for the product
before the final stage of the prototype was complete which we expected. APP’s
previous black box technology and products have been extensively tested by many
organizations and have been proven successful; the fact that we will be able to
offer the same product for less money and more user friendly was an obvious
revenue generator. The TSTI Interface will offer the consumer a wide range of
tracking ability and accountability for the Driver.
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.
Distribution:
On September 2, 2004 Accident Prevention
Plus, Inc. announced it had entered into a distribution agreement with Jean Paul
Daveau. This agreement is for the distribution rights of the newest APP product,
TSTI Interface to the trucking industry, retail, sub-distributors, commercial
fleets and government agencies.
To date, Mr. Daveau has met with several
organizations that have an overwhelming need for this product. Mr. Daveau has
working liaisons with the French government, training companies and retail
operations, as this product is part of the regulations recently mandated by the
French. The TSTI Interface is instrumental in promoting safety on the road
today. There have been talks with the federal government agencies expressing
concern over highway safety and felt that the TSTI Interface technology was
practical and essential.”
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
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.
The distribution
agreement will be for the areas of France, Belgium and Italy; Mr. Daveau will
receive exclusive rights to these areas as long as the minimum per year of
55,000 units is met. Mr. Daveau commented on the agreement The APP unit is
getting a very good response rate, in Europe, we consider road safety a very
serious issue and the TSTI Interface will assist to prevent the loss of life on
our roads today. Our government is eager to implement this system nationwide,
the timing is perfect. . We anticipate our efforts to come to financial
realization by year-end 2004. Although the distribution agreement calls for a
minimum of 55,000 units per year, taking into account the number of Drivers in
these countries and the seriousness of road safety in our country, we believe we
will exceed that level by many times.
Names Change and Mandatory
Certificate Exchange Definitive Information Statement Filed .
The Board
of Directors has determined that it is in the best interests of the Company and
its shareholders to require that all shareholders tender to the Company their
respective share certificates, which will be exchanged for new share
certificates in the same aggregate denomination and which will display the new
name of the Company (the “Mandatory Share Exchange”). Based upon historical
activity, the Board of Directors unanimously approved that new share
certificates in the name of Transportation Safety Technology Inc. will be issued
to shareholders who have proof of beneficial ownership and tender their
respective share certificates to the Company. The new share certificates will
not be allowed to be altered or issued electronically through DTC.
The
Board of Directors has approved the Mandatory Share Exchange as part of its
ongoing initiative to improve and strengthen its corporate structure and provide
security to its shareholders. The Company will pay for the costs associated with
the Mandatory Share Exchange.
Letter to broker requesting your
certificates and a sample letter to the transfer agent is available on the
website at www.applus.com
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.
CONTACT: Accident Prevention Plus,
Inc., Jupiter, FL
Jennifer Swanson,
561/741-4450
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Source : http://www.prweb.com/releases/2004/9/prweb160612.htm