Press Releases
Braintech Achieves Positive Cash Flow Status
ABB Confirms Commitment to Market TrueView Systems World Wide
February 20, 2007
NORTH VANCOUVER, BC - Ted White, Braintech's CFO states, "Receipt of this ABB payment, together with the minimum purchase guarantees for 2007 and 2008, provides Braintech with sufficient funds to achieve a continuing positive cash flow from operations beginning with the first quarter of 2007".
Owen Jones Braintech's CEO and Chairman of the Board says, "Our mission is to build a public company that in the long run provides exceptional ROI for our shareholders. To this end, we adopted the Independent Software Vendor, ("ISV") model that can provide exceptional profitability by virtue of high gross margins and volume sales. The challenge, for an emerging software company is to achieve market leadership in a niche and so very few ISV's succeed.
I'm here today, to state we are succeeding! Our relationship with ABB, (ABB.NYSE) has developed over the last six years. Today, we received affirmation of the importance of our products for ABB and its' customers and in doing so are well positioned to sustain profitable growth.
Our goal, in partnership with ABB, is focused on helping manufacturers become more competitive by providing visually intelligent, ("Cognitive") robotic systems that offer substantial improvements for the quality and cost of manufacturing".
Ted Wodoslawsky, ABB-VP Marketing, NA Robotics comments, "Cognitive Robotics is game changing and with our TrueView systems we're already providing our customers with new levels of robotic automation that are making their operations more efficient. We're working with Braintech to expand our TrueView offerings in order to give our customers the power of Cognitive Robotics for all their manufacturing needs".
About Braintech (OTCBB: BRHI)
For more information, visit www.braintech.com
About ABB Robotics Division
TrueView is a trademark of ABB, Inc.
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