Quantitative Methods Corporation
OTC Bulletin Board : QTTM

September 01, 2005 14:58 ET

Quantitative Methods Corporation Acquires Roadvision Technologies Inc.

MONTREAL, QUEBEC--(CCNMatthews - Sept. 1, 2005) - Quantitative Methods Corporation (OTCBB:QTTM), ("QTTM"), is pleased to announce that it has concluded the acquisition of Roadvision Technologies, Inc. ("Roadvision"), a private Canadian-based company that develops and provides micromanagement hardware and software solutions in vehicle fleet operation management.

In total consideration for the acquisition, QTTM issued 7,250,000 of its restricted common stock to the Shareholders of Roadvision in exchange for 100% ownership. Following the consummation of the Share Exchange Agreement, Roadvision became a wholly-owned subsidiary of QTTM.

RTI's technology, using TDGPSTM, incorporates state-of-the-art on-board intelligence along with total dynamic positioning information, real-time communications and unmatched data analysis in a user-friendly, fully integrated and evolutionary platform; allowing managers to maximize fleet operations and make well informed decisions regarding the effective daily management of vehicles.

QTTM believes that the acquisition of Roadvision will position the combined entity to become a world leader of advanced management solutions for vehicle fleet operations.

Concurrent with the acquisition of RTI, the Board of Director's of QTTM are also pleased to announce the appointment of Mr. Demetrius Manolakos, as Chairman of the Board and the appointment of Mr. Michel Roy as Executive Vice-President and Director.

Mr. Demetrius Manolakos has been a practicing Notary and Legal Advisor in the Province of Quebec for over 39 years. Mr. Manolakos is currently a member on the Board of Directors for several charitable organizations and he holds diplomatic office as the Honorary Consul of the Sultanate of Oman in Canada.

Mr. Michel Roy is presently engaged on a contractual basis by an association of professional employees. Mr. Roy retired from practice in July 2003, and over the span of his career he held positions in various capacities in industrial-labor law and legal advisor. He also practiced general law in the Province of Quebec and was a professor of history at several of Universities in Canada and abroad.

This news release contains forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the company's operations and financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the uncertainties as to the occurrence of future events, changes in laws and regulations; fluctuations in costs of development and production, foreign exchange and interest rates; and other factors as those discussed in the company's reports filed with the Securities and Exchange Commission from time to time.

QUANTITATIVE METHODS CORPORATION (OTC Bulletin Board:QTTM)

Contact Information

  • Quantitative Methods Corporation
    Pierre Miron
    President
    (450) 672-7003