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American Company Spotlight

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RemoteMDx Inc. Website:
Click Here |
Information As Of: May 9,
2007 |
| Exchange:
OTCBB |
Market Cap:
172.23 Million |
| Outstanding Shares:
91.13 Million |
52 Low / High:
$0.50 / $2.28 |
|
Price as of May 9:
$1.89 |
RMDX Recent Stock Quote and News:
Click Here |
'RemoteMDx global
location, monitoring and communications technologies advance
law enforcement effectiveness and senior citizen
independence.'
OverviewThrough its SecureAlert subsidiary,
RemoteMDx offers a unique personal security service combing
two-way communications, patented wireless location
technology and affordable real-time 24/7 mobile monitoring
to assist law enforcement in protecting neighborhoods from
predators and to provide peace of mind for families with
elderly loved ones who live alone or far away.
Investment Highlights
- RemoteMDx's proven technologies/services combine two- or
three-way cellular and global positioning technologies with
powerful Web-based software and 24/7 Monitoring Center to
deliver an unsurpassed advantage in its key markets.
- TrackerPAL generates a recurring revenue stream of up to
$8/day per deployed device.
- RemoteMDx has the capacity to manufacture 400 units per
day.
- RemoteMDx has in excess of 100 employees and 45
distributors.
- RemoteMDx has seven patents issued, six patents pending
and one patent applications in the process of being filed.
- More than $40 million has been invested in RemoteMDx
thus far, including $10 million by the company's management.
- RemoteMDx announced on February 20, 2007 operating
revenues of $988,000 for the quarter ended December 31,
2006, a 450% increase compared to $219,000 for the same
period last year. The primary reason for the increase was
the introduction of the TrackerPAL unit that started a
full-scale deployment in December of 2006 and will
demonstrate continued revenue growth throughout the calendar
year of 2007.
- SecureAlert announced a contract between Seguridad
Satelital Vehicular for 10,000 TrackerPAL units to be
deployed in Mexico. Seguridad Satelital Vehicular (SSV) is a
major supplier of tracking devices and services to the
Mexican government and specializes in telematics. The
contract calls for SSV to purchase 10,000 TrackerPAL units
for $6 million over a 16-month period of time.
- Numerous states and the federal government have passed
laws specifically targeting the use of the TrackerPAL
product.
Profile
As a premier player in the electronic monitoring and
tracking industry, RemoteMDx has created two products and
built a world-class monitoring and telematic center to help
maintain safety and security for our families and
communities in an ever-changing mobile world.
The first product, TrackerPAL, allows parole/probation
officers and other agencies to monitor offenders in the
criminal justice system. The device keeps track of the precise
location of offenders and offers real-time voice communication
with both the Monitoring Center and the supervising officer.
The second product targets the more than 10 million senior
citizens in the United States who live alone. MobilePAL
products were created with easy-to-use communications and
global positioning solutions to help keep senior citizens
connected with loved ones and (if necessary) emergency
personnel, all at the touch of a button via a small handheld
device. MobilePAL solutions have already served 50,000
individuals to date.
Offender Tracking
Keeping children, families and neighborhoods safe from
violent crimes committed by repeat offenders.
-
4.9
million adult men and women are currently on supervised
probation or parole in the U.S.*
-
Parolees
and probationers under government supervision commit 15
murders per day.**
-
In 1991,
convicted probationers were responsible for at least 64,000
murders, 7,400 rapes, 10,400 assaults and 17,000 robberies
in the U.S.**
-
The
average cost to keep an offender in prison is approximately
$65 per day.***
-
The
average cost of the TrackerPAL Offender Monitoring System is
$8 per day.
According to
the U.S. Census, roughly one in every 32 American adults is
currently in the correctional system, of which 4.1 million men
and women are on parole or probation.
The TrackerPAL Offender Monitoring Device, combined with a
state-of-the-art 24/7/365 Monitoring Center, provides a
complete and unique safety solution. By housing both GPS
tracking and cellular communications technologies within the
nearly indestructible casing of the TrackerPAL unit, the
Monitoring Center is able to maintain a constant vigil over
the location of each and every offender wearing a device.
* U.S. Census
** June 2002, The Cutting Edge, Federal Probation
*** “Bureau of Justice Statistics Bulletin,” July 2004
TrackerPAL
The TrackerPAL combines miniaturized
cellular and global positioning system (GPS) technologies into
a small (3.5- X 2.0- X 1.5-inches) patented device that straps
to an offender’s ankle. Backed by a 24/7 Offender Monitoring
Center and a powerful geographical information system (GIS)
database. TrackerPAL automatically tracks and monitors the
location of serious offenders in real-time anywhere in the
world, while also providing supervising officers
round-the-clock cellular communications capabilities with
offenders.
Housed in a nearly indestructible shell, each TrackerPAL
device includes a tamper alarm, a tamper-resistant ankle
strap, rechargeable/replaceable batteries and an automatic
battery alarm system. Pricing for the TrackerPAL solution is
$8.00 per day per offender, roughly one-half to one-third the
price of less-effective, competing solutions and significantly
less than the national average of $65.00 per day for
incarceration.
With a built-in central processing unit (CPU), the device
is able to alert the Offender Monitoring Center of any efforts
made by offenders to tamper with it. The ankle strap is
permanently fixed to the offender and requires the destruction
of the strap for removal. It is custom designed to be
inexpensive yet strong and uses fiber optics to assist in
making it extremely difficult to circumvent and remove without
detection.
With TrackerPAL devices currently deployed throughout the
United States, RemoteMDx is helping reduce the risk of violent
crimes by repeat offenders.
Key features of RemoteMDx’s Offender Monitoring System
include:
- 24/7 nationwide two-way voice communication
- Automated reporting of location and alarms (breadcrumbs)
- Inclusion and exclusion alarms
- Proximity alarm
- Automated alert notification
- Tamper resistant band and alarm
- Battery status alerts (rechargeable/replaceable)
- Web-based real-time tracking
- Active monitoring
- Enhanced GPS/GSM locate functionality
Senior Safety
Products and services designed to give
seniors and their loved ones invaluable peace of mind.
Senior safety is vitally important to tens of millions of
friends and family members throughout the United States. What
is more frightening to the 35 million Senior Americans than
the possibility of finding themselves in a situation where
they are unable to get the help they need?
RemoteMDx has created its state-of-the-art MobilePAL
device, a single-button device able to connect its users to a
personal assistant 24 hours a day, 7 days a week.
MobilePAL
Since emergency situations are complicated
and frightening enough, RemoteMDx has designed the MobilePAL
device to be exceptionally effective in getting senior
citizens the attention and assistance they need as soon as
they need it, while also being extremely simple to use. The
unique, patented single-button alert system works in tandem
with the PAL Monitoring Center to provide assistance –
emergency or otherwise – to our senior citizen customers.
When a user pushes the button to activate the device, the
MobilePAL relies on both global positioning system (GPS) and
cellular technologies, along with powerful Internet-based
software, to let PAL Monitoring Center operators continuously
communicate with the subscriber while simultaneously
determining the caller’s location. Response Specialists act as
the caller’s personal assistant and are able to determine the
nature of the situation, contact emergency response personnel
if needed and even pass along instructions to others based on
information provided by the caller.
Smartly designed to resemble a common cellular phone, the
MobilePAL slips easily into a purse or jacket pocket. The
MobilePAL empowers senior citizens to live their lives to the
fullest, content in their knowledge that should they need any
kind of assistance, help is available at the touch of a
button.
Service includes:
- Full concierge service
- Voice connection to family and friends
- Daily check-up call to the subscriber
- Driving directions
- Emergency roadside service
- Emergency 911 assistance
- Notification of loved ones and physicians during an
emergency
- Storage of medical records
Medical Products
RemoteMDx / Volu-Sol Inc. is a highly
specialized supplier of advanced wireless communications
solutions for tracking and monitoring individuals. Our
proprietary communications solution has integrated global
positioning system (GPS) and cellular technology with the
necessary infrastructure components to track and monitor
individuals on a continuous basis. Data is sent to a
monitoring center, staffed 24x7, wherein advisors provide the
necessary care and service to the customer when needed.
Volu-Sol, a RemoteMDx subsidiary is committed to advancing
the standards of personal health and safety through the
development of innovative biomedical sensor devices that send
data wirelessly to our MobilePal® device and monitoring
center. The monitoring of vital sign parameters is an everyday
practice in medicine. Despite the increased improvement in
measurement and display methods, devices haven’t been able to
keep up with the development of technical possibilities. Volu-Sol’s
objective is to partner with niche organizations to design,
manufacture and take to market wireless bio-sensor devices
that capture vital sign data. Volu-Sol is uniquely positioned
to transmit and store vital clinical data and provide the
monitoring and alert system to consumers via the MobilePal
system.
Volu-Sol has done an extensive review of commercial
products that use wireless technology to send vital sign data
to a database. We are seeking companies that are innovative
and confident in taking bio-sensors to the market. As a user
of such devices, Volu-Sol provides service to patients and
envisions the day when bio-sensors will be integrated with one
another or when a patient wears multiple devices for different
data parameters. Volu-Sol is a provider of service based on
the data transmitted to the monitoring center.
Because it is likely that one integrated device has not
matured to capture all vital parameters noted below, it is
expected that multiple iterations of a sensor or multiple
sensors will be needed to capture these vital parameters. In
our vision, Volu-Sol would license products or jointly develop
sensors to take to market. Our interest lies in the following
sensor areas: Vital signs (temperature, heart rate,
- SpO2 (blood oxygen saturation), activity/inclination
- Blood pressure
- Serum glucose level
- Diagnostic quality EKG
Volu-Sol also sells reagents that are used in laboratories
and clinics across the country. We acknowledge that some of
these parameters represent years of planning and research and
we are committed to funding and developing sensors in these
areas.
Recent News and Press Releases
RemoteMDx Supplements Earlier Press Release (Thu, Apr 12)
TrackerPAL(TM) Revolutionizes Monitoring of Convicted Sex
Offenders (Tue, Apr 3)
REMOTE MDX INC Financials (Fri, Feb 23)
RemoteMDx Announces First Quarter Results (Tue, Feb 20)
RemoteMDx's Wholly Owned Subsidiary SecureAlert Announces
Contract for Mexico (Mon, Feb 5)
Electro Energy Appoints Larry Schafran to Its Board of
Directors (Tue, Nov 28)
David Derrick – Chief Executive Officer and Chairman
Mr. Derrick served as chief executive officer and chairman of
the board of directors of Biomune Systems Inc. between 1989
and 1998. From 1996 to 1999 Mr. Derrick served as chairman of
the board of directors of the Purizer Corporation and from
1979 to 1982 was a faculty member at the University of Utah
College of Business. Mr. Derrick earned a bachelor of arts
degree in economics and a masters in business administration
with an emphasis in finance from the University of Utah. Mr.
Derrick has been the major financier and driving force in many
new businesses. During the early 1980s he helped create the
community of Deer Valley, an exclusive ski resort outside of
Park City, Utah. In 1985 he founded and funded a company that
pioneered the Smart Home concept - the computerized home. The
company is known as Vantage Systems and is today a leader in
this field.
James Dalton - President and Vice Chairman
From 1987 to 1997, Mr. Dalton was the owner and president of
Dalton Development, a real estate development company. Mr.
Dalton served as the president and coordinated the development
of the Pinnacle project in Deer Valley, Utah, a 86-unit
condominium project at a cost of $50 million. Mr. Dalton also
served as the president and equity owner of Club Rio Mar in
Puerto Rico. Club Rio Mar is a 680 - acre beach front property
including 500 condominiums, beach club, numerous restaurants,
pools and a Fazio-designed golf course. Finally, as the
founder and owner of the Deer Valley Club Mr. Dalton developed
a high-end and world-class ski project, including 25
condominiums that have a ski-in and ski-out feature. More
recently, Mr. Dalton has served as an officer and director of
Biomune Systems, Inc., a public company located in Salt Lake
City. Mr. Dalton was active in the daily activities of the
business and instrumental in the funding of the Company.
Michael Acton - Chief Financial Officer, Secretary and
Treasurer
From June 1998 until November 2000, Mr. Acton was chief
executive officer of Biomune Systems, Inc., where he also
served as principal accounting officer and controller from
1994 to 1997. While at Biomune, Mr. Acton was instrumental in
the acquisition of two nutritional product lines that
increased sales more than 300 percent. Mr. Acton performed a
critical role in selling a division of Biomune to a large
pharmaceutical company. Additionally, he played a key role in
raising in excess of $10 million from various institutions and
private investors and successfully completed a reverse merger
of Biomune Systems, Inc., into a Chicago-based pharmaceutical
company. Mr. Acton has spent more than eight years in the
public reporting arena and is familiar with Securities and
Exchanges Commission rules and procedures. He was previously
employed by Arthur Anderson LLP in Salt Lake City. Mr. Acton
received a bachelor of science degree and a master of
professional accounting degree, both from the University of
Utah. He is a certified public accountant in the state of
Utah.
Bruce G. Derrick – Chief Technology Officer
Mr. Derrick has extensive experience in management of custom
solutions development and customer management in the wireless
telecom marketplace. From 2001 to 2004 he was a senior product
development manger for WatchMark Corporation, a company that
collects cellular network performance data for quality
assurance and capacity planning. From 1997 to 2001 Mr. Derrick
was responsible for forming and managing the professional
services team for Marconi's MSI division. From 1996 to 1997
Mr. Derrick provided technical project management of
application scalability testing and quality control at Boeing
and Western Wireless. From 1989 to 1996 Mr. Derrick built and
managed the corporate computer and network operations
department for Avaya's Mosaix division. From 1983 to 1989 he
served as senior programmer in applied research at the
University of Utah's Department of Medical Informatics, where
he developed and implemented medical informatics and
physiological monitoring services for ICU care. He also
participated in development of IEEE standards for automated
physiological monitoring for NASA's Space Station program. Mr.
Derrick holds a bachelor's degree in computer science from the
University of Utah.
Randy E. Olshen – President SecureAlert, Inc.
Prior to joining SecureAlert, Inc., Mr. Olshen was the
executive vice president for Elan Nutrition from 2001 to 2004.
From 1998 to 2001, Mr. Olshen was the president of Optim
Nutrition, a wholly owned subsidiary of Biomune Systems
(NASDAQ: BIME). From 1992 to 1998, Mr. Olshen was the
executive vice president of sales, marketing and operations at
Nellson Nutraceutical. From 1987 to 1992 Mr. Olshen was the
general manager of the specialty products division of a $500
million pharmaceutical company, McGaw, Inc. He currently
serves as a director and a member of the compensation
committee for several companies. Mr. Olshen earned his
bachelor’s degree from Chapman College.
Contacts
Phone: 1-866-451-6141
Fax: 1-801-451-6281
Address: 150 West Civic Center Drive
Suite 400
Sandy, UT 84070
FORWARD LOOKING STATEMENTS
This report includes forward-looking
statements that reflect RemoteMDx Inc. current
expectations about its future results, performance,
prospects and opportunities. RemoteMDx Inc. has
tried to identify these forward-looking statements by using
words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to
a number of risks, uncertainties and other factors that
could cause RemoteMDx Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and
other factors include, without limitation, the Company's
growth expectations and ongoing funding requirements, and
specifically, the Company's growth prospects with scalable
customers, and those outlined above. Other risks include the
Company's limited operating history, the Company's history
of operating losses, consumers' acceptance, the Company's
use of licensed technologies, risk of increased competition,
the potential need for additional financing, the terms and
conditions of any financing that is consummated, the limited
trading market for the Company's securities, the possible
volatility of the Company's stock price, the concentration
of ownership, and the potential fluctuation in the Company's
operating results.
Disclaimer
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reliable. For more information see our disclaimer section, a
link of which can be found on our web site. This document
contains forward-looking statements, particularly as related
to the business plans of the Company, within the meaning of
Section 27A of the Securities Act of 1933 and Sections 21E
of the Securities Exchange Act of 1934, and are subject to
the safe harbor created by these sections. Actual results
may differ materially from the Company's expectations and
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