SOURCE: GeoScopix, Inc.

July 18, 2007 09:15 ET

GeoScopix Sums Up Progress to Date

JACKSONVILLE, FL--(Marketwire - July 18, 2007) - GeoScopix, Inc. (PINKSHEETS: GSPX) has just released a summary of the progress that the firm has made to date. In May, GeoScopix entered into the testing and manufacturing phase for the Gator, a Stereoscopic, GPS-based, geometric land assessment device which was developed for applications in the disaster recovery, military surveillance and construction industries.

Also in May, GeoScopix announced the expectation to sell 200 Gator units during the first year of operation targeting FEMA, the Bureau of Land Management and the Army Corps of Engineers; all of which have a total annual budget of nearly $60 billion. The Department of Homeland Security has an annual budget of over $40 billion, of which FEMA receives approximately $5 billion(1). The Army Corps of Engineers had a 2006 budget of $4.5 billion and the Bureau of Land Management's annual budget is approximately $10.5 billion.

In addition, GeoScopix classified the Gator as an integral accident investigation tool which can be used by law enforcement departments and even insurance companies to accurately map out accident or crime scenes efficiently. The Gator produces detailed, accurate photographs that simulate the actual scene. The investigating officer at an accident scene can use the Gator to take several general photos in just a few minutes. Traffic can be restored immediately instead of being delayed further while the officer uses a measuring wheel and sketchpad to manually draw the scene. Additionally, reference data can be recorded with the Gator such as times stamp, weather conditions, road conditions, lighting and moveable objects such as witnesses or interested observers. These added pieces of information greatly add to the value of the photos when they become part of investigations or the insurance claim process.

In early June, GeoScopix announced that Tetracam, Inc., a firm based in Chatsworth, California that designs digital camera systems and software for specialized applications, had been contracted to begin the process of further developing, manufacturing and engineering the Gator and that a four-phase program had been devised which will guide engineers in the process of manufacturing the Gator from prototype construction through full production. Dr. John Alexander, the original inventor of the technology, will be spearheading the design and engineering of the final product.

The "Gator" uses a state of the art "stereo" camera system to take high resolution photographs. The 3-D photos can then be used to map relevant details such as elevation, distance, height, width and location. Some of the market segments that the Gator is geared towards are disaster recovery, military surveillance, construction, first responders, police, crime scene investigation teams, insurance companies and others. Specific agencies that would find this technology especially useful include the Army Corps of Engineers, the Bureau of Land Management and the Department of Homeland Security / FEMA. The University of Florida holds the patent for the Gator while GeoScopix has the exclusive worldwide rights to its development and manufacturing.

Gunther Than, President of GeoScopix, states, "The ability of the Gator to expedite the process of surveying accident and crime scenes makes it an indispensably valuable tool to law enforcement, investigative and insurance professionals. We expect sales of the Gator to grow exponentially in this market segment at a rapid rate. Our collaboration with Tetracam is also an excellent way to bring our prototype to life and is a significant step towards the Gator's debut in the marketplace. The expected launch date for the Gator is in the fourth quarter of 2007."

About GeoScopix

GeoScopix is a state of the art technology company based in Jacksonville, FL. The company was formed with the goal of discovering, nurturing, and selling innovative new technologies. The company's founders have decades of experience running high tech firms and dealing with challenges facing emerging technologies. The company currently has one product developed and is currently expanding its manufacturing capability to adjust to expected demand. GeoScopix, Inc. specializes in development and marketing of integrated GPS stereo camera products (GPS Stereoscopic) for applications in insurance, emergency management, and first response markets.


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