AXCESS International Closes on $2.3 Million in Equity Financing
Amphion Innovations plc is Lead Investor in Round Earmarked for Disruptive RFID Product Development
DALLAS, TX, March 15, 2006 — AXCESS International Inc. (OTCBB: AXSI), a leading provider of Radio Frequency Identification (RFID) and Real Time Location Systems (RTLS), today announced closing on a $2.3 million equity financing led by Amphion Innovations plc. The total raise includes $813,000 announced December 30, 2005 as the first phase of the funding. Amphion Innovations plc provided $1.2 million of the total amount raised. In addition, the company received $600 thousand from the sale of non-core patents. 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, vehicle, sensor tagging. New markets are also targeted where RFID’s adoption rate has been exemplary.
“RFID as a technology has evolved rapidly over the past year and the requirements of the market have now crystallized,” commented Allan Griebenow, president and CEO of AXCESS International. “Our unique ActiveTag™ system is a platform for multiple RFID tag applications across multiple industry verticals. Our focus remains to be 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.”
“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,” said Richard Morgan, CEO of Amphion and Chairman of AXCESS. “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 in the company.”
AXCESS’ patented ActiveTag™ RFID systems use small, low cost battery powered tags (generically called “active” or “semi-active” tags) that when automatically activated, transmit a wireless message typically 30 to 100 feet to hidden palm size receivers. The receivers are connected via a standard network simultaneously to the enterprise system software, the existing security alarm equipment, and standalone management software. The AXCESS OnlineSupervisor™ enterprise software platform provides real time location displays, automatic inventory counts, custom reports, and alerts based on programmable rule-base conditions including automatic e-mail alerting and paging for rapid response. Optionally, tag transmissions can trigger security video recording and live remote video transmission of events. The tags are used for a variety of enterprise productivity applications including automatic personnel access control and tracking, automatic vehicle access control and payload management, real time location determination, automatic asset management and protection, as well as special purpose sensing. More information is available from the Company’s Web site at 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 technology companies, working in partnership with corporations, governments, universities and entrepreneurs seeking to commercialize their intellectual property.
On the Web: www.Amphionplc.com
About Axcess International Inc.
Axcess International Inc. (OTCBB: AXSI) delivers wireless intelligence through real-time business activity monitoring solutions that improve productivity, security and revenue growth. The systems derive wireless intelligence from automatic advanced workforce management, workflow management, asset monitoring and distributed sensing. As the smallest, most powerful battery powered wireless computer, Dot, a patented micro-wireless technology platform, combines RFID, RTLS and wireless sensing for better decision-making and control throughout the enterprise. Dot adds transmission flexibility by interfacing with multiple enterprise legacy systems including the popular Electronic Product Code (EPC) standard system now used by RFID tags in the retail supply chain. Dot has set an industry low price point for multi-frequency, micro-wireless tagging at $7.95 MSRP with asset tags starting at $8.95. Axcess is a portfolio company of Amphion Innovations plc (AIM: AMP). For more information on Axcess, visit www.axcessinc.com.
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