Powerlinx (CE) (USOTC:PWNX)
Historical Stock Chart
From Dec 2019 to Dec 2024
PowerLinx, Inc. (OTCBB:PWNX), a developer, manufacturer,
and seller of power line communication products today announced
details regarding the first of several product upgrades and new
products scheduled for launch in 2006.
This product line transmits audio over the existing electrical
lines within a home or small office. The product allows an end user to
install audio speakers in any room in the home without running
additional wiring from room to room.
The product will be introduced in two forms. The first is an
iPod/MP3 accessory, complete with audio speakers; and targets the
rapid growth of the iPod/MP3 player market. The second is an accessory
for home entertainment systems and component stereo systems which have
an extensive installed base. Both products allow the user to connect
speakers in any room without running wires from the audio source to
the room with the speakers. The technology may also be integrated into
various consumer electronics products like home entertainment systems.
It is especially well suited for surround sound products as it enables
the rear surround sound speakers to be connected without running wires
across the room. Prototypes were sent to two potential licensees
during June of 2006. PowerLinx is currently scheduling presentations
to introduce pre-production samples to major retailers during July and
August of 2006.
Executive Vice President of Sales Roger Roy said, "NPD Group
research shows that for every $3 spent on iPod products, an additional
$1 is spent on accessories. That figure totaled $850-thousand last
year and is forecast to top a billion dollars this year. We are
driving our digital power line audio devices specifically at the iPod,
MP3 player, and PC music users. Further, the second version of the
product targets home theater and hi-fi consumers who want sound
throughout their home without the trouble and expense of in-wall
wiring."
PowerLinx is expanding the revenue potential for all power line
products by engineering the products to operate on both domestic and
international electrical systems.
Management intends on penetrating targeted markets utilizing both
licensing and direct sales strategies, depending on market structure
and targeted customers in each segment. Management is currently
pursuing licensing partners for all product lines. For its direct
sales strategy, the Company has outsourced manufacturing to IC
Intracom in order to efficiently manufacture goods in Asia. This
change in manufacturing has reduced the cost of goods sold and has
freed resources within PowerLinx allowing the Company to concentrate
on its core competence of developing power line communication
technology and products.
Mike Tomlinson, CEO of PowerLinx stated, "The Company remains
committed to its new strategic plan. These new product introductions
and upgrades are a key part of aggressively pursuing the business plan
that supports those strategies." According to Tomlinson, the estimated
release dates are based on the most recent project plan timelines.
Risks associated with engineering new technology and certain external
influences, such as regulatory approvals or component availability,
have been factored in but may shorten or lengthen time to market by
several weeks.
About PowerLinx, Inc.: PowerLinx, Inc., http://www.power-linx.com,
develops, manufactures, and markets products and applications that
transmit voice, video, audio and data either individually or in any
and all combinations over power lines, twisted-pair wires and coax in
AC and DC power environments, on any and all power grids. The Company
has also developed, manufactured, and marketed different kinds of
underwater video cameras, lights and accessories for the marine,
commercial and consumer retail markets.
Web site: http://www.power-linx.com
E-mail: investor@power-linx.com
This press release may contain "forward-looking statements" that
involve risks and uncertainties, including statements regarding our
plans, future events, objectives, expectations, forecasts, or
assumptions. Any statement in this press release that is not a
statement of historical fact is a forward-looking statement, and in
some cases, words such as "believe," "estimate," "project," "expect,"
"intend," "may," "anticipate," "plans," "seeks," and similar
expressions identify forward-looking statements. These statements
involve risks and uncertainties that could cause actual outcomes and
results to differ materially from the anticipated outcomes or result,
and undue reliance should not be placed on these statements. These
risks and uncertainties may include: the adoption of our new products
by customers; our ability to identify, develop, and commercialize new
applications for our products; the ability to manage our anticipated
growth; scaling-up our manufacturing capabilities; protecting our
intellectual property; and other risks and uncertainties discussed in
filings made with the Securities and Exchange Commission (including
risks described in subsequent reports on Form 10-Q, Form 10-K, Form
8-K, and other filings). PowerLinx, Inc. disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.