|By Marketwired .||
|November 27, 2012 09:22 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/28/12 -- AFG Flameguard Ltd. (CNSX:AFG) ("AFG" or the "Company") is pleased to provide the following update regarding the completion of product testing and certification.
UPDATE ON TESTING AND CERTIFICATION PROGRAM
Further to the Company's news release of July 27, 2012, AFG is pleased to announce that an extensive testing and certification program commissioned by DSPA.NL is now complete. Testing was conducted over several months at an independent international testing agency, Kiwa Netherland B.V. ("KIWA") (http://www.kiwa.nl). KIWA is accredited by the Dutch Accreditation Council and is recognized by the Standards Council of Canada and certain foreign accreditation organizations that are members of the International Accreditation Forum.
On November 6, 2012, DSPA Condensed Aerosol Generators DSPA 11-1, DSPA 11-2, DSPA 11-3, DSPA 11-4, DSPA 11-5, DSPA 11-6 and DSPA 8-1 received declarations of conformity based on parts of CEN/TR 15276-1, ISO15779 and UL 2775 from KIWA. The tests included, among other attributes, the durability, reliability and measurement of the effectiveness of our DSPA installed unit.
The Standards Council of Canada (SCC) has confirmed that by virtue of its membership in the International Accreditation Forum's (IAF) Mutual Recognition Agreement (MRA), it recognizes accreditation certificates issued by the Dutch Accreditation Council to certification bodies, including Kiwa Netherland B.V., equivalent to the certificates issued by SCC to its own accredited organizations.
AFG President and Chief Executive Officer, Thomas Bell, stated, "These certifications represent a significant milestone for AFG and its line of DSPA fixed installation systems. We believe that the results of the KIWA tests and related certifications will facilitate the future sales of DSPA fixed systems. The fire prevention and suppressions systems market as it relates to new construction in Canada alone is a multibillion dollar industry. Fire safety protection, utilizing AFG's innovative aerosol technology when compared to conventional systems is the most cost effective solution."
DSPA systems will be marketed for use in circumstances where installed fire suppression systems are used or required. DSPA systems offer a cost effective alternative solution when compared to traditional fire suppression systems. AFG intends to market these systems in Canada and its other territories through agents and national distributors that already market and install fixed fire suppression systems. The Company is now seeking additional agents and distributors.
DEMONSTRATIONS AND PRODUCT PLACEMENTS
On October 14, 2012, the Company conducted two demonstrations with 240 firefighters in attendance from the Saskatchewan Volunteer Firefighters Association at the North Battleford Fire School's fall session. To date, the Company has placed over 400 units in the hands of first responders. The initial marketing program has successfully proven the units in the field and has saved over 20 structures in the past year alone. North Battleford was the first fire department in Saskatchewan to include DSPA-5 units on their front line fire apparatus and they have deployed three DSPA-5 units to date.
THIRD QUARTER 2012 RESULTS
Sales for the three and nine months ended September 30, 2012 were $36,175 and $74,432 (2011 - $11,039 and $29,680) and included sales of DSPA-5 units and carrying cases, HCA products and miscellaneous fire-suppression related products. Gross margin for the three and nine months ended September 30, 2012 was $17,445 (48%) and $40,097 (54%) (2011 - $4,586 (42%) and $13,067 (44%)). The higher margins in 2012 were due to increased efficiencies in both pricing and costing procedures.
Total assets have decreased from $973,506 as at December 31, 2011 to $790,541 as at September 30, 2012. The $182,965 decrease is attributed primarily to cash utilized to fund operations offset by HST refunds received during the period.
As at September 30, 2012, the Company had working capital deficiency of $195,718 (December 31, 2011 - working capital of $24,881) and a deficit of $53,074 (December 31, 2011 - equity of $170,208). The decrease in working capital is a direct result of the interest-free promissory note of $466,812 due June 30, 2013, becoming a current liability as it is less than a year from becoming due and payable. The Company currently has enough inventory on hand to generate approximately $1.2 million in sales.
As the activity of the Company has focused on new sales channels and the potential of the new certifications to gain acceptance from the broader target markets, AFG plans to continuously improve sales and raise capital to meet its capital needs.
The third quarter financial statements of the Company have been filed on www.sedar.com.
ABOUT AFG FLAMEGUARD AND DSPA TECHNOLOGY
AFG is a life safety technology focused company providing innovative fire suppression and prevention products and services. AFG products include intumescent paints and coatings as well as the revolutionary line of Dry Sprinkler Powder Aerosol generators ("DSPA") which utilizes environmentally friendly waterless aerosol technology to rapidly suppress fire. The use of DSPA technology significantly reduces air, water and soil contamination caused by excessive amounts of water used in conventional methods of firefighting. DSPA technology is available in portable and fixed installation systems. A DSPA fixed extinguishing system consists of one or more DSPA aerosol generators which are activated by a detection and activation system. DSPA aerosol generators are not pressurized and are installed inside the compartment or room that requires protection. After activation, a non toxic aerosol cloud is generated which expands volumetrically, flooding the space and extinguishing the fire.
Follow AFG on Twitter at www.twitter.com/afgflameguard.
Except for statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" or "information" (collectively "statements"). These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In some cases, forward-looking statements can be identified by terminology such as "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "likely", "may", "outlook", "plan", "potential", "predict", "should", "will", or the negative of these terms or other comparable terminology. The reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements and information include, but are not limited, risks related to our limited operating history and history of no earnings, competition from other companies in various consumer industries, changes to government regulations, dependence on key personnel, general economic conditions, local economic conditions, including the marketing of similar products and services in close proximity to licensed territories of the Corporation, timely introduction of these newly licensed Corporation's products or services; the uncertainties in acceptance of such products or services by the market, approvals the Corporation may require in having the agreements and interests being assigned to them, interest rates, availability of equity and debt financing, increased development costs, including costs of labor, equipment and environmental compliance and other risks factors described from time to time in the documents filed by the Corporation with applicable securities regulators and the CNSX, including in the Form 2A Listing Statement under the heading "Risk Factors", which is filed on the CNSX website.
Neither the Canadian National Stock Exchange (the "CNSX") nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
Mar. 30, 2015 10:00 AM EDT Reads: 1,674
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
Mar. 30, 2015 10:00 AM EDT Reads: 1,289
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...
Mar. 30, 2015 09:15 AM EDT Reads: 2,235
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
Mar. 30, 2015 09:00 AM EDT Reads: 1,619
SOA Software has changed its name to Akana. With roots in Web Services and SOA Governance, Akana has established itself as a leader in API Management and is expanding into cloud integration as an alternative to the traditional heavyweight enterprise service bus (ESB). The company recently announced that it achieved more than 90% year-over-year growth. As Akana, the company now addresses the evolution and diversification of SOA, unifying security, management, and DevOps across SOA, APIs, microser...
Mar. 30, 2015 08:30 AM EDT Reads: 2,067
The webinar, hosted by XebiaLabs, will feature 4 experts including Special Host Gene Kim, author of The Phoenix Project, along with IT thought leaders Gary Gruver, Randy Shoup and XebiaLabs' Andrew Phillips. The panel brings more than 30 years of collective experience surrounding microservices transformations at major companies including Google, eBay and Tripwire. "The story around microservices and containers is pretty compelling and the attraction of more flexibility is obviously alluring,"...
Mar. 30, 2015 08:00 AM EDT Reads: 1,296
SYS-CON Events announced today that Creative Business Solutions will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Creative Business Solutions is the top stocking authorized HP Renew Distributor in the U.S. Based out of Long Island, NY, Creative Business Solutions offers a one-stop shop for a diverse range of products including Proliant, Blade and Industry Standard Servers, Networking, Server Options and...
Mar. 30, 2015 07:30 AM EDT Reads: 3,847
SYS-CON Events announced today that FierceDevOps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. FierceDevOps keeps software developers and IT operations personnel updated on the latest news and trends around the rapidly evolving role of the traditional IT worker.
Mar. 30, 2015 02:45 AM EDT Reads: 1,506
GENBAND has announced that SageNet is leveraging the Nuvia platform to deliver Unified Communications as a Service (UCaaS) to its large base of retail and enterprise customers. Nuvia’s cloud-based solution provides SageNet’s customers with a full suite of business communications and collaboration tools. Two large national SageNet retail customers have recently signed up to deploy the Nuvia platform and the company will continue to sell the service to new and existing customers. Nuvia’s capabili...
Mar. 30, 2015 01:00 AM EDT Reads: 1,487
WHOA.com has announced the newest addition to its data center footprint with the expansion into Equinix's newest state-of-the-art facility: DC-11 Washington, DC IBX+. Located in Ashburn, VA, this data center expands Whoa.com's presence to meet rapidly expanding customer demand for secure cloud solutions. Equinix, Inc. operates International Business Exchange™ (IBX®) data centers in 32 markets across 15 countries in the Americas, EMEA, and Asia-Pacific. Equinix is committed to operating faciliti...
Mar. 30, 2015 12:00 AM EDT Reads: 1,170
SYS-CON Events announced today that the DevOps Institute has been named “Association Sponsor” of SYS-CON's DevOps Summit, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. The DevOps Institute provides enterprise level training and certification. Working with thought leaders from the DevOps community, the IT Service Management field and the IT training market, the DevOps Institute is setting the standard in quality for DevOps education and training.
Mar. 29, 2015 10:30 PM EDT Reads: 1,169
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Mar. 29, 2015 10:00 PM EDT Reads: 1,827
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborat...
Mar. 29, 2015 07:00 PM EDT Reads: 5,255
WSM International is launching a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. This is the first independent services company to create a dedicated practice to help organizations looking to transition to the DevOps model. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of ...
Mar. 29, 2015 07:00 PM EDT Reads: 1,551
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
Mar. 29, 2015 06:00 PM EDT Reads: 1,868
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Mar. 29, 2015 06:00 PM EDT Reads: 1,497
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
Mar. 29, 2015 05:45 PM EDT Reads: 1,300
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Mar. 29, 2015 05:00 PM EDT Reads: 3,199
DevOps tasked with driving success in the cloud need a solution to efficiently leverage multiple clouds while avoiding cloud lock-in. Flexiant today announces the commercial availability of Flexiant Concerto. With Flexiant Concerto, DevOps have cloud freedom to automate the build, deployment and operations of applications consistently across multiple clouds. Concerto is available through four disruptive pricing models aimed to deliver multi-cloud at a price point everyone can afford.
Mar. 29, 2015 05:00 PM EDT Reads: 996
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed...
Mar. 29, 2015 04:15 PM EDT Reads: 2,448