Business Services Industry
CORRECTING and REPLACING Strategic Alliance Group, Inc. Agrees to Purchase GRP, Inc. to Be Known as Cruise Cam International, Inc
Business Wire, April 21, 2004
Business Editors/High-Tech Writers
Correction...by Strategic Alliance Group, Inc.
PALM CITY, Fla.--(BUSINESS WIRE)--April 21, 2004
In BW6237 issued April 20, 2004: Ticker symbol should read (Pink Sheets:SGCA) sted (Pink Sheets:STGE)
The corrected release reads:
STRATEGIC ALLIANCE GROUP, INC. AGREES TO PURCHASE GRP, INC. TO BE KNOWN AS CRUISE CAM INTERNATIONAL, INC.
Strategic Alliance Group, Inc. (Pink Sheets:SGCA) announced today that it has signed an agreement to acquire GRP, Inc., a Georgia corporation headquartered in Troy, Michigan, for stock. Payment for GRP, Inc. shall be a minimum of 26,250,000 shares of Strategic common stock. The surviving company will be known as Cruise Cam International, Inc.
Related Results
CruiseCam's premier product is a vehicle recording system able to withstand the rigors of use in law enforcement and in the military. Development of the patented technology was financed by Ford Motor Co. and Lear Corporation, and approved by the Office of Law Enforcement & Technology (OLETC) and the U.S. Department of Justice (DOJ). The resulting system exceeds Federal Motor Vehicle Standards 208 and 301 for occupant safety design.
Operations
CruiseCam currently has contracts with law enforcement agencies and automobile distributors in 38 states. The company finished 2003 with a year-to-year sales increase of 300% or over $2,000,000. All Ford Crown Victoria's have a CruiseCam ready seat for model years 2003, 2004 and 2005. In 2004 it expects the introduction of a digital product with CDW and Toshiba to supply video and a wide range of computer-associated products.
CruiseCam is presently conducting demonstration exercises at the state level with NY, CT, MI, and WI. It will double its dealer presence in all fifty states and Canada during 2004. Finally, CruiseCam has been selected by Daimler-Chrysler to support the camera offering for their new lines of 2005 Durango, Magnum and Sprinter Prisoner Van vehicles.
The Market for CruiseCam
The Department of Justice is interested in maximizing the placement of cameras in patrol cars because they believe they will reduce the number of lawsuits against police agencies. In addition to Law Enforcement Agencies, it is anticipated that the Postal Service working with Daimler-Chrysler's Dodge Division will want the cameras installed in their replacements of 250,000 mail carrier vehicles over a 5-year period. Projected sales from this project should provide CruiseCam with sales of approximately $20MM per year.
The person managing the affairs of CruiseCam is D. Scott Watkins.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information included in oral statements or other written statements made or to be made) contains statements that are forward looking, such as those relating to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward looking statements.
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