SOURCE: Optical Systems, Inc.

July 16, 2008 16:31 ET

Optical Systems, Inc. Signs Letter of Intent

Forecast '09 Revenue of 6.6 Million Needs to Be Increased

HOUSTON, TX--(Marketwire - July 16, 2008) - Optical Systems, Inc. (PINKSHEETS: OPSY) today announced that they have signed a Letter of Intent to enter into a Joint Venture agreement with Text-4-Cars.com. The joint venture allows OPSY to offer "Save-A-Deal" to the Canadian market with a partner that already has established relationships with auto dealers. The Joint Venture will also give OPSY a new product line with substantial revenue potential that positions the company to outperform their current forecasted estimates.

"We are very excited with the opportunities that lie ahead in the very near future with this agreement. Additional product lines and locations have us revisiting our current and forecasted revenue estimates for the latter part of '08 and '09," stated CEO BJ Grisaffi.

Optical Systems, Inc., through its wholly owned operating subsidiary, Automotive Software Designers, Inc., provides front office software for automotive dealerships that significantly improves dealership efficiency by automating workflow within a dealership, eliminating manual forms, and reducing the time to desk and finance a deal. For the most complete integrated software solution available log onto www.saveadeal.net.

SAFE HARBOR STATEMENT

Safe Harbor Statement under the Private Securities litigation Reform Act of 1995: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations. As statements regarding future events concern management's estimates of future results of operations, and as these estimates are based on many elements beyond management's control, differences from management's estimates may occur, and such difference may be material.

Although Optical Systems, Inc. believes the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statement included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as representation by Optical Systems, Inc. or any other person that the objective and plans of Optical Systems, Inc. will be achieved.

Contact Information

  • Contact Information:
    Investor Relations
    BJ Grisaffi
    713-467-1987