Titanium Group Announces Projected Increase in Fourth Quarter Revenue
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Projected Revenue Increases By 108% Over Third Quarter 2007
SAN JOSE, Calif., Jan. 15 /PRNewswire-FirstCall/ -- Titanium Group, Ltd
(OTC Bulletin Board: TTNUF), a leading Biometric and security solutions
provider announced today that management account results for the fourth
quarter ended Dec 31, 2007 show the quarter's revenue at approximately $900K,
representing an approximate 108% increase compared to revenue of $431K for the
third quarter of this year, and approximate 64% increase compared to revenue
of $549K for the fourth quarter of 2006. Actual financial results will be
available in the company's upcoming financial report.
"The projected increased in revenue demonstrates the continual maturity of
the market for biometric products and solutions," said Dr. Johnny Ng, Chairman
of Titanium Group. "We are delighted about the revenue increased and are
confident about continual growth in the year of 2008."
About Titanium Group:
Titanium Group, LTD (http://www.titanium-tech.com), and its wholly owned
subsidiary Titanium Technology, is a leading biometric and security solutions
provider featuring its proprietary and patented automated Face Recognition
Systems (AFRS). Titanium's AFRS products capture human face images
electronically, input the facial images into searchable files (faceprint) and,
in just seconds, accurately compare the facial images to a database containing
millions of faces. These cutting-edge products reduce administration cost,
enhance security, and significantly increase overall productivity. Titanium's
products are distributed worldwide, either directly or through resellers or
OEM partners, to governments, law enforcement agencies, gaming companies, and
other organizations. The Company's clients include: IBM, Hong Kong Government
and the Peoples Bank of China, etc.
Safe Harbor Provisions
Certain oral statements made by management from time to time and certain
statements contained in press releases and periodic reports issued by Titanium
Group, Ltd. (the "Company"), as well as those contained herein, that are not
historical facts are "forward-looking statements" within the meaning of
Section 21E of the Securities and Exchange Act of 1934 and, because such
statements involve risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Forward-looking statements, including those in Management's Discussion and
Analysis, are statements regarding the intent, belief or current expectations,
estimates or projections of the Company, its Directors or its Officers about
the Company and the industry in which it operates, and are based on
assumptions made by management. Forward-looking statements include without
limitation statements regarding: (a) the Company's strategies regarding growth
and business expansion, including future acquisitions; (b) the Company's
financing plans; (c) trends affecting the Company's financial condition or
results of operations; (d) the Company's ability to continue to control costs
and to meet its liquidity and other financing needs; (e) the declaration and
payment of dividends; and (f) the Company's ability to respond to changes in
customer demand and regulations. Although the Company believes that its
expectations are based on reasonable assumptions, it can give no assurance
that the anticipated results will occur. When issued in this report, the words
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," and similar expressions are generally intended to identify
forward-looking statements.
Important factors that could cause the actual results to differ materially
from those in the forward-looking statements include, among other items, (i)
changes in the regulatory and general economic environment; (ii) conditions in
the capital markets, including the interest rate environment and the
availability of capital; (iii) changes in the competitive marketplace that
could affect the Company's revenue and/or cost and expenses, such as increased
competition, lack of qualified marketing, management or other personnel, and
increased labor and inventory costs; (iv) changes in technology or customer
requirements, which could render the Company's technologies noncompetitive or
obsolete; (v) new product introductions, product sales mix and the geographic
mix of sales.
The Company disclaims any intention or obligation to update or revise
forward-looking statements, whether as a result of new information, future
events or otherwise. Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: The statements which are not historical facts
contained in this advertisement are forward-looking statements that involve
certain risks and uncertainties including but not limited to risks associated
with the uncertainty of future financial results, additional financing
requirements, development of new products, governmental approval processes,
the impact of competitive products or pricing, technological changes, and the
effect of economic conditions.
SOURCE Titanium Group, Ltd
Randy J. Sasaki of Trout Trading Company, Inc., +1-303-671-0270, for Titanium
Group, Ltd
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