SEATTLE, April 16, 2009 (GLOBE NEWSWIRE) -- SARS Corp. ("SARS" the "Company") (Pink Sheets:SARO) updates its shareholders regarding its business activities and future plans. SARS designs, manufactures and maintains telemetry equipment, provides services for web-based remote monitoring and control of equipment and real-time asset location and tracking services. During 2008, expanding from its historical focus on marine vessel and vehicle tracking, SARS extended its offerings to include systems and services to monitor remote, stationary assets, and is now offering services on seven continents and four oceans.
SARS believes that remote, real-time monitoring and alarm notification services have broad-based appeal because they can reduce labor requirements and provide web based access for real time asset management and regulatory reporting. The improved management of companies' assets reduces the need for, and the consumption of, scarce global resources. Improved fleet and marine management reduces fuel costs and improves maintenance schedules; real-time inventory data (in the LPG supply market) can eliminate meter readings, unnecessary deliveries and remote monitoring of large facilities reducing on-site personnel. Heightened security sensitivity worldwide has created numerous opportunities to track or monitor vulnerable assets and infrastructure.
SARS' monitoring and alarm services for prevention of Marine piracy, checking equipment malfunction, violation of operating parameters (e.g. oil rig moves off station) and measurement of consumption-based maintenance events. SARS utilizes off-the-shelf products, with proprietary software to develop system packages. SARS' back office systems give the Company technical abilities to communicate with all currently available satellite systems, GPRS networks, local area networks and allow SARS to simultaneously operate systems in Europe, China, and North and South America.
In 2007, SARS reviewed its products to develop new solutions for market demands for remote asset tracking, monitoring, inventory control and management -- solutions bolstered by federally mandated initiatives to improve marine vessel security and tracking, EPA and Homeland Security directives on monitoring critical infrastructure, water treatment and distribution systems. SARS completed the initial launch of its second generation of monitoring systems and products in October 2008.
To facilitate the review and evolution of SARS' product and service offerings, the Company recently announced the addition of new Interim Chairman and CEO, Geoff Meagher. Mr. Meagher replaces Christopher Wain, who resigned on March 13, 2009, but who remains a consultant to the company. Mr. Meagher, 62, has previously provided sales and financial consulting services to SARS, and has operated a small business consulting and financing firm, Cascade Capital, Inc., for over 15 years. His appointment as Interim CEO and addition to the Board of Directors is expected to increase operating efficiencies and fiscal responsibility as SARS expands its product and vendor base in the coming months.
Mr. Meagher is a proven and dynamic executive, highly skilled in operating and positioning both companies and products for growth and maximization of shareholder value. He has over thirty years of broad management experience in marketing and distribution, service and manufacturing industries. His work history includes over sixteen years in various management roles, concluding as COO of a $45MM (now $100MM) commercial music service business; two years as President/COO of an outdoor apparel manufacturing company; over two years as EVP/COO of a development stage software business; and, over fifteen years as principal of a private capital and management consulting company.
His most recent activities include providing consulting for and investment in a wide variety of Northwest based businesses including: Production Finance International, Inc., Screenplay, Inc., Future Media Solutions, Inc., Allegis Communications, Inc., N2uitive, Inc., and Cucina Fresca Gourmet Foods, Inc. Mr. Meagher currently serves as Chairman of N2uitive, Inc.; as President/Principal of Cascade Capital, Inc.; and serves on the Boards of N2uitive, Cucina Fresca, Plastics Conversion Technologies, Inc., and Nextune, Inc.
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FORWARD-LOOKING STATEMENTS
Safe Harbor Statement
This Press Release may contain forward-looking statements generally identified as such because the context of the statement will include the words such as "expects," "should," "believes," "anticipates" or words of similar import. Forward-looking statements are subject to certain risks and uncertainties including the financial performance of SARS Corp. which could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. SARS Corp. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by SARS Corp. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with our ability to (i) obtain additional financing necessary to contractual obligations to our prospective customers and clients (ii) obtain profitability, (iii) increase revenues, (iv) react to actions of our competitors, (v) develop new services and markets for our services, remain in compliance with regulatory rules and regulations and to integrate such services with the products and services of our co-joint ventures (vi) continue to refine our products to create broad, commercial appeal (vii) gain sufficient market penetration of our products and (viii) foresee and make necessary changes to our business strategies.