SAN FRANCISCO, April 11, 2012-- Concierge Technologies, Inc. (OTC BB: CNCG) announced today that its majority owned subsidiary Wireless Village, doing business as 3rd Eye Cam, has entered into an agreement to supply over 1,000 high definition video recording systems for deployment in Los Angeles area taxi cabs. The product offering includes the dual-lens, high-definition, video camera with 30 fps video capture on the integrated DVR with GPS tracking, audio recording and event diagnostic sensors that are to be installed in Los Angeles taxi cabs.
Peter Park, president of 3rd Eye Cam, commented, "This sale in Los Angeles is a validation of our technology as the preferred device for taxi cab use. Regulatory agencies across the country, including Los Angeles, have embraced our camera as meeting or exceeding their stringent requirements and consider its presence in the vehicle as a significant deterrent to crime and a valuable tool in heightening driver security and as an administrative risk management application for owners and insurers."
Gross revenues for Concierge have continued to climb from approximately $36,000 for the fiscal year ending June 30, 2010 when the business was started to an aggregate of now over $2 million. David Neibert, CEO of Concierge, stated, "We are extremely pleased with the progress made by 3rd Eye Cam during the current fiscal year. With the expanding market awareness, and the increasing regulatory mandates for security recording technologies in vehicles for hire, our product sales have increased as projected, allowing us to focus on other matters concerning growth of the company such as new product development, horizontal markets and creation of synergistic partnerships within the industry. We are projecting 2012 to be a time of continued growth for Concierge Technologies."
The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of our future performance, acquisitions or dispositions of interests, debt obligations, additional financing requirements, the effect of economic conditions generally and in the communications and information technology markets specifically, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.
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SOURCE Concierge Technologies, Inc.