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PPOL Licenses U.S. Middleware for Exclusive Distribution in Japan
ORANGE, Calif., June 1 /PRNewswire-FirstCall/ -- In keeping with PPOL, Inc.'s
(OTC:PPLC) (BULLETIN BOARD: PPLC) new growth strategy, the Company today
announced it has signed a licensing and exclusive distribution agreement with
Object Innovation, Inc., a Florida-based, privately held provider of
information technology systems.
Under the terms of the agreement, PPOL will license Object Innovation's
BridgeGate software, a Transformation and Exchange Infrastructure (TEI) that
allows disparate data systems to be rapidly connected together to share data,
without requiring major changes on either end, and which transforms that data
from any format into any other format. To cater to the Japanese market, a
Japanese version of BridgeGate will be developed.
Additionally, PPOL has agreed to make an investment of $300,000 in the form of
purchasing 1,500 shares of Object Innovation's common stock, representing 15%
of Object Innovation's equity, subject to a certain vesting schedule tied to
revenues derived on the sale of the BridgeGate software by PPOL.
"We are pleased that Object Innovation has chosen to partner with us for
distribution of their technology in Japan and anticipate great success as
evidenced by our capital investment in the company," said Nobuo Takada,
Chairman and Chief Executive Officer of PPOL. "Our development team is
currently working on translation and preparation of this software for launch in
the Japanese market and look forward to initiating distribution of the
technology this summer."
PPOL is in the process of establishing a wholly owned subsidiary in Japan to
market and distribute BridgeGate and other technology, for which it plans to
acquire exclusive Japanese distribution rights. The new subsidiary will
recruit seasoned veterans from other technology companies in Japan to lead its
marketing and distribution efforts in Japan.
Under the terms of the agreement, PPOL can start marketing the products
beginning July 15, 2004.
About PPOL
PPOL, Inc. is a California-based holding company whose primary asset,
heretofore, is AJOL of Tokyo, Japan. AJOL sponsors and promotes the expansion
of its membership organization, Acube, through conferences and speaking
engagements conducted by AJOL's President and CEO, Yoshihiro Aota. In
addition, through their own interactions Acube members spread the word about
MOJICO hardware and drive growth of related services. Many members serve as
MOJICO hardware distributors and develop membership businesses featuring
interaction and distribution of related products and services among all
members. Through the use AJOL's MOJICO hardware, members can network and
communicate using hand-written Japanese characters, including Kanji whose full
meaning cannot be adequately communicated through the present fonts of a
computer. Members across Japan use the service to find other subscribers to
establish interpersonal relationships, and access other services such as
insurance unique to Acube, mail order purchases, the handling of partner-
affiliated services, event planning, as well as other products and services. In
April 2004, PPOL announced its new strategy to grow the Company through the
early stage identification of proven and promising low-cost target U.S.- and
European-developed technologies that it can be quickly introduced into Japan
thereby creating a significant lead over competitors. Via PPOL's network in
Japan, software products can be localized and sold with local support provided
either by PPOL staff or its marketing partners.
Certain information contained herein includes information that is forward-
looking. The matters referred to in forward-looking statements may be affected
by the risks and uncertainties involved in the Company's business. These
forward-looking statements are qualified in their entirety by the cautionary
statements contained in the Company's Securities and Exchange Commission
filings. Shareholders, potential investors and other readers are urged to
consider these factors in evaluating the forward-looking statements and are
cautioned not to place undue reliance on such forward-looking statements. The
forward-looking statements included herein are only made as of the date of this
news release, and PPOL undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances,
except as required under applicable laws.
For further information please contact: investors, Ina McGuinness or Zachary
Bryant, , both of Lippert/Heilshorn & Associates, +1-310-691-7100, for PPOL,
Inc.
DATASOURCE: PPOL, Inc.
CONTACT: investors, Ina McGuinness or Zachary Bryant, ,
both of Lippert/Heilshorn & Associates, +1-310-691-7100, for PPOL, Inc.