Message #7 From:
NewsBot Date: June 26, 2006 06:00:00 AM
BLLD News Bulldog Technologies Provides Update on Execution of Restructuring Plan; Re-Organization and Restructuring Implemented to Increase Operational Efficiency and Execute Near Term Revenue Growth
RICHMOND, British Columbia--(BUSINESS WIRE)--June 26, 2006--Bulldog Technologies Inc. (OTCBB: BLLD), a provider of wireless security solutions and sensor networks to monitor, track and secure assets in the global supply chain, announced on June 15, 2006 the implementation of restructuring efforts in support of a revitalized business plan focused on near term revenue growth and profitability. The Company today provided additional details on the overall restructuring plan.
The Company believes the commercial viability of its technology is now aligned with its strategy of targeting markets having near-term sales opportunities. The new management team has made the strategic decision to marshal its resources to take advantage of immediate sales opportunities in North America and Latin America. These opportunities should provide a shorter sales cycle, with the potential for increased market penetration, recurring sales, and the realization of near-term revenue growth.
In connection with this revised sales strategy, and part of the overall corporate re-structuring, the Company identified several sales and administrative positions considered nonessential. As of June 19, 2006, the Company eliminated several employees and is reevaluating other operational expenses to facilitate a leaner and more cost-effective business organization. This restructuring plan will include a new Senior Management Team with practical experience in rapid vertical markets growth and channel sales development.
Kim Leiske, Vice President of Sales and Marketing for Bulldog, commented, "With the collective efforts of new management and transition team, we believe we have established a viable business and sales model which can be more efficiently executed at reduced operational costs. The objective of our plan is to generate near-term revenues and profits using a more efficient organization structure. Our core technical infrastructure is intact, and the sales and administrative structure has been streamlined. We believe we are now better equipped to penetrate markets that could yield positive operating results in a shorter period of time. As part of our new distribution strategy, we will engage domestic and international distributors, agents and value-added resellers (VARS) to expand our reach into the global supply chain market. We believe this strategy should increase Bulldog's visibility in the marketplace, provide immediate short-term revenue, and optimize our future sales opportunities."
About Bulldog Technologies
Bulldog Technolgies 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.
Bulldog Technologies believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review Implant Sciences' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the period ended August 31, 2005, and Quarterly Reports on Form 10-QSB for the period ended November 30, 2005 and February 28, 2006. The Company assumes no obligation to update the information contained in this press release.
