Amphion Innovations plc Partner Company AXCESS International Completes $2.3M Funding
NEW YORK, March 15, 2006 – Amphion Innovations plc (LSE:AMP - News; "Amphion"), the developer of technology and life sciences businesses, today announces that one of its portfolio companies, AXCESS International, Inc. (OTCBB:AXSI - News), a leading provider of Radio Frequency Identification (RFID) systems, has completed a financing totaling $2.3M. Amphion Innovations plc provided $1.25 million of the total amount raised, $750,000 of which was previously announced on January 3, 2006.
The funds are to be used in part to complete the development of a new RFID product designed to further exploit AXCESS' existing markets utilizing asset, personnel, and vehicle tagging. New markets are also targeted where RFID's adoption rate has been exemplary. AXCESS booked record RFID revenue of $986,377 for the twelve months ended 31 Dec 2005 (of $1,080,240 in total revenue), an increase of 28% from $772,475 in 2004. RFID revenue during 4Q2005 represented an increase of 177% from 4Q2004 and 139% from 3Q2005. For the full year 2005, gross margin was 40%.
Amphion's investment brings its ownership stake in the firm to 8.9% on a fully diluted basis.
AXCESS' patented ActiveTag™ RFID systems use small, low-cost battery powered tags that when automatically activated, transmit a wireless message typically 30 to 100 feet to hidden palm size receivers. The receivers are connected simultaneously to the enterprise system software, the existing security alarm equipment, and standalone management software, all via a standard network.
The AXCESS OnlineSupervisor™ enterprise software platform provides real time location displays, automatic inventory counts, and custom reports. Optionally, tag transmissions can trigger security video recording and live remote video transmission of events. The tags are used for a variety of corporate productivity applications including automatic personnel access control and tracking, automatic vehicle access control, payload management, real time location determination, automatic asset management and protection, and special purpose sensing. Automatic email alerting and paging is also offered for rapid response to security-related incidents.
Allan Griebenow, president and CEO of AXCESS International, said: "RFID as a technology has evolved rapidly over the past year and the requirements of the market have now crystallised. Our unique ActiveTag system is a platform for multiple active tag applications across multiple industry verticals. Our focus remains being the leader in driving enterprise solutions in asset management, personnel tracking, and fleet vehicle control. AXCESS plans to make a dramatic statement with this new product regarding the potential uses of RFID in the enterprise."
Richard Morgan, CEO of Amphion and Chairman of AXCESS, said: "AXCESS is showing that their proven products, now deployed by hundreds of customers in a wide range of industries, provide real productivity and security solutions. The compelling return on investment to their customers in the deployment of their unique, patented products and services is changing the way people implement RFID. We are excited about AXCESS' progress and very pleased to increase our ownership of the company.”
For further information please contact
Jordan Darrow, Investor Relations
+1 (631) 367-1866
Stephanie Collins, Marketing
+1 (972) 250-5981
Richard Morgan, CEO
+1 (212) 210-6224
Ben Austin, Investor Relations
+1 (212) 210-6248
Financial Dynamics UK
Ben Atwell / John Gilbert
+44 (0) 20 7831 3113
About AXCESS International Inc.
AXCESS International Inc. (OTCBB:AXSI), headquartered in greater Dallas, TX, provides Radio Frequency Identification (RFID) and Real Time Location Systems (RTLS) for asset management, physical security, and supply chain efficiencies. The battery-powered "active" and "semi-active" (on-demand) RFID tags locate, identify, track, monitor, count, and protect people, assets, inventory, and vehicles. AXCESS' RFID solutions are supported by its integrated, network-based streaming digital video (or IPTV) technology. Both patented technologies enable applications including: automatic "hands-free" personnel access control, automatic vehicle access control, automatic asset management, real time location determination, and sensor management. AXCESS is a portfolio company of Amphion Innovations plc.
On the Web: www.axcessinc.com
About Amphion Innovations plc
Amphion Innovations plc recently listed on the AIM Exchange in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life science and technology companies, working in partnership with corporations, governments, universities, and entrepreneurs seeking to commercialize their intellectual property.
On the web: www.amphionplc.com