Coda Octopus Group, Inc.
LAKELAND, Fla., Aug. 20, 2012 /PRNewswire/ — Coda Octopus Group, Inc. (OTC: CDOC.PK), announces that it has recently been awarded a contract for the supply of an Underwater Inspection System (UIS(TM)) to the City of Long Beach Police Department (“LBPD”). This system has now been successfully delivered to the LBPD.
The Port of Long Beach is the second busiest seaport in the United States and is a major gateway for trade with Asia, handling over six million containers annually. The UIS(TM) which includes Echoscope(®) real-time 3D sonar technology will be used primarily for underwater inspections of the port’s 10 piers and eighty berths and other critical infrastructure. It will also be used for preventative maintenance such as keeping the shipping channels clear of dangerous debris and other objects.
Sergeant Steven Smock of the Long Beach Police Department said: “this is an important acquisition for us. It is state of the art technology, which gives us productivity gains, and more importantly the detailed real time data which is an indispensable requirement for security today. We are excited about this and working with Coda Octopus we have already trained a number of our officers to operate this equipment.”
Blair Cunningham, our President of Technology said: “we are very pleased to welcome the Long Beach Police Department to our ever growing community of UIS(TM) users. Given the sheer size of the port, the benefits of the rapid deployment and real-time 3D visualization capability will be significant to the port’s security effort. The Coda Octopus UIS(TM) has proven to be an invaluable tool for port security. By using its real-time 3D capabilities it provides immediate high quality images of potential hazards enabling the fastest understanding of the nature of the hazard so that appropriate resources can be mobilized without any loss of time. LBPD will also receive our advanced patented Survey Explorer(TM) software which creates in real-time 3D a very detailed image with sharp edges while discarding ‘noise’ in the image produced by, for example, passing fish or floating debris.”
About Coda Octopus Group, Inc.
Originally founded in 1994 as Coda Technologies, the Coda Octopus Group is now headquartered in Lakeland, Florida. The Group consists of a Marine Products business located in Lakeland, Florida, Edinburgh, Scotland and Bergen, Norway, and engineering businesses in Salt Lake City, Utah and Weymouth, England. Each of the Group companies are technology innovators with a particularly high level of sonar expertise. The Group has facilities in Florida, Utah, the UK and Norway.
Alongside providing custom engineering and development for defense applications, one of the Group’s key products is the Coda Octopus Echoscope(®) – the world’s first real time patented 3D sub-sea sonar. The Echoscope(®) is also at the heart of the Underwater Inspection System(TM), which is being adopted for homeland security, and other applications in ports around the world.
With this patented revolutionizing sub-sea visualization capability, and the existing systems integration skills within the Group, the Coda Octopus Group believes it can become a world leading integrated sonar technology supplier.
Safe Harbor Statement:
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import but all statements other than of historical fact could be deemed forward-looking statements. Stockholders, potential investors and other readers are cautioned not to place undue reliance on these forward-looking statements that are predictions and opinions based only on current information as of the date of this press release that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and include, but are not limited to, market acceptance of Coda Octopus’ planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers. These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Geoff Turner, Director and Group Officer
SOURCE Coda Octopus Group, Inc.