RICHMOND, British Columbia--Sept. 7, 2006--Bulldog Technologies Inc. (OTC.BB: BLLD), a provider of wireless solutions and sensor networks to monitor, track and secure assets for cargo and global supply chain security, today announced that as a result of its field testing of the RoadBOSS(TM) in Ecuador, the new management team has made a strategic decision to delay further commercial testing and deployment of the current RoadBOSS(TM) system in order to complete the development and implementation of its internally developed, enhanced component technology to be integrated into a new version of the RoadBOSS(TM). The RoadBOSS(TM) is a proprietary electronic cargo-container security device developed by Bulldog Technologies for use in loss prevention, asset management, financial tracking and asset recovery.
Mr. Paul G. Harrington, President and Chief Executive Officer, explained, "We believe a fundamental flaw in the previous management's strategy was the introduction of a product that was not thoroughly tested for commercial deployment and relied too heavily on critical third party components. The manufacturers of these third party components were not responsive to our critical technology issues and could not implement the necessary modifications to meet the specified needs of our strategic partners and customers."
Mr. Heetor Wald, Chief Technical Officer, advised, "The Company's technical staff has always believed it possessed the in-house resources and talents to develop the necessary components to ensure the increased reliability and functional capabilities of our products. We believe the proper business strategy is to use our internal engineering resources to produce certain critical components which should enable us to react more quickly to technology issues, if any, which could arise during expanded testing and deployment of the RoadBOSS(TM) product. Our engineering staff has already invested significant time and resources in the development of the next generation of RoadBOSS(TM) and believes a commercially deployable product can be made available for commercial pilots by the end of November 2006."
Mr. Harrington continued, "This strategic decision by the new management team does represent a major set-back in the overall commercial deployment schedule of the Road Boss(TM). However, it does represent an important change which should enable the Company to rely on its internal resources providing the Company with greater control over its own destiny with respect of product development, application and deployment. This decision provides Bulldog with an opportunity to introduce more reliable technology to meet the demands of our international network of distributors, agents, and VARs. However, our ability to execute on this new strategy is largely dependent upon our ability to raise additional funds to finance our continuing development and operational activities."
Mr. Harrington further commented, "This strategic technical change has no affect on the deployment and sales of Bulldog's MiniBOSS(TM) and YardBOSS(TM) products which are in various stages of early commercial deployment with several customers. We believe these two products are currently reliable and ready for further commercial distribution and sales. While channeling our technical resources on the task of introducing a more technically enhanced and reliable RoadBOSS(TM) product, we will continue to focus our near-term sales opportunities with these two commercially viable products. We are also exploring distribution and sales opportunities with full-service, well established domestic security firms that can better market, distribute and provide monitoring support and response for our products. This too represents a significant strategic change for the Company as we move away from the previous strategy of direct sales and marketing, to that of an indirect channels distribution and sales organization. We believe this type of channels sales model has proven to be highly successful for other technology companies in the cellular and network industries, and we believe it is the right fit for Bulldog."
About Bulldog Technologies
Bulldog Technologies designs, develops, and manufactures its patented and FCC-certified wireless Online Security Solutions (BOSS(TM)) for supply-chain and other security and asset protection business applications. With an estimated $6 billion in reported cargo theft annually, Bulldog's BOSS(TM) products are designed to increase supply chain operational efficiency, security, and reduce and deter overall losses. The Company also has the ability to offer substantial assistance to corporations, governments and law enforcement agencies in maintaining the integrity and traceability of cargo and containers as they enter or exit sovereign territory, are processed and re-distributed to final destinations. For further details on the Company and its products, please visit the Company's website at www.bulldog-tech.com.
