Mr. Jeon's experience in the Digital Video Recorder (DVR) industry and security surveillance industry came as he served as Vice Chairman of Kodicom Inc., a developer and manufacturer of DVR technologies in Korea. Mr. Jeon has also served as a director for Maxtor Corporation, now Seagate Technology, and Hynix Semiconductor, Inc.
Mr. Jeon has BS and Masters degrees from Seoul National University in Electrical Engineering and Business Administration.
Won Soo Chung, CEO of Axium stated: "We are extremely pleased to have attracted a person of the quality of Mr. Jeon to our board of directors. We will be relying on his substantial experience in our industry; his international contacts; and his unprecedented business acumen in helping us achieve the goals that Axium has set for 2007 and beyond."
ABOUT AXIUM TECHNOLOGIES, INC.
Axium Technologies, Inc. is a leading provider in surveillance security systems software and hardware. The company maintains its corporate presence in Pasadena, CA and its Research and Development Facility in South Korea.
The Company's primary products include MAXIMUM Surveillance Software, which is the key solution providing interoperability for numerous digitalized security and surveillance products from diverse manufacturers. The Company's Digital Video Recorders (DVRs) and Network Video Products (NVPs) are targeted at the Security and Surveillance segment of the gaming industry. The Company's newest product "Tagger Trap" is a state-of-the-art graffiti detection product which detects and alerts local police of graffiti activity. The estimated cost of graffiti clean-up in North America is projected at $1.0 billion annually. Millions of dollars have been budgeted in the past year by large metro police departments to detect and apprehend graffiti taggers.
During 2006, Axium Technologies redeployed much of their resources, both fiscal and headcount, to complete development of its current suite of products. In doing so, its 2006 revenues are expected to reach $1.04 million, with revenues for 2007 presently projected to be $8.8 million, with gross margins of approximately 57% of revenues. The Company is presently reviewing its guidance for 2007 and will issue any upward adjustment warranted by this review, as soon as possible.
FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Security and Surveillance industry; the positioning of Axium products in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Axium Technologies can successfully develop new products and the degree to which these products gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
CONTACT INFORMATION Corporate Inquiries Won Soo Chung 626-422-9977 Email Contact Investor Relations http://www.agoracom/IR/Axium/ Email Contact Phone: 954-480-9975