Jacksonville, FL, September 28, 2005 - Jacksonville, Florida-based Tiger Telematics Inc (OTC: TGTL) has completed filing of its Report on Form 10K for the year ended 2004 and is focused on an expedited completion of its Reports on Form 10Q prior to the Gizmondo's US launch date.
Since the Company's accounts for the past year ended 2004 have all been disclosed and are available on the sec.gov web site, the Company plans to file its 10Q's up to date. This will enable the Company to file for trading on the NASDAQ listed exchange.
This listing, when approved, will permit the Company to engage a much larger investor base as it permits retail solicitation orders and research by analysts. Tiger's common stock will then be considered a marginable security for loans.
The Gizmondo technology, especially with the inclusion of blue tooth and GPS, is capable of competing effectively in the world of cell phones, ipods and other communication devices. On the 30th September, the Company will also be launching Satellite Navigation software for the Gizmondo, and highly competitive hardware bundles delivering subscription-free GPS sat nav for under £200, which has prompted significant and additional commitment from retail.
Carl Freer, co-founder and Chairman, Tiger Telematics, says: "We are gearing up our inventory as a result of an unexpected surge in sales. We also need product in the USA for our upcoming launch in time for the Christmas season. Recent updates from our manufacturers allow us to expect to have Gizmondos available to meet the increasing demand.
"Our investment bank will be helping us with financing and making introduction to institutions including hedge funds and retail clients. This might result in a registration statement for securities in the near future."
"Our state-of-the-art game development studios continue to impress the industry with innovative design and functionality utilising the unique features of the Gizmondo. We will continue to develop and create more groundbreaking games, and update some classic titles as well. Gizmondo Studios still plan to have 89 titles by the year-end of 2005."
He concluded, "We envision an upcoming period of growth, having evolved from a development company to a solid entertainment and communication company."
For further information please contact:
+44 208 964 4545
The Gizmondo is powered by Microsoft Windows CE advanced real-time operating system, boasting a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates the GoForce 3D 4500 NVIDIA graphics accelerator. It provides cutting-edge gaming, multimedia messaging, an MP3 music player, Mpeg4 movie playing capability, a digital camera and a GPRS network link to allow wide-area network gaming. Additionally, it contains a GPS chip for location-based services, is equipped with Bluetooth for use in multi-player gaming and accepts SD and MMC card accessories.
The Gizmondo device and its games are currently launching the in UK and Continental Europe markets, with the North American launch planned for summer 2005.
About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc (TGTL) and is the maker of Gizmondo, a next-generation mobile entertainment device. Launched in 2004, the gaming device includes built-in music, video, messaging and picture functions and GPS.
Tiger Telematics is a designer, developer and marketer of mobile telematics systems and services that combine global GPS functions and voice recognition technology to locate and track vehicles and people down to street level in countries throughout the world. The systems are designed to operate on GPS and are currently being marketed to GSM current and potential subscribers, primarily by the company's United Kingdom based subsidiaries.
'Gizmondo', 'Tiger Telecom', 'Gizmondo Games' and the 'Gizmondo' logos and devices are trademarks of Gizmondo Europe Limited. 'Smart ADDs', 'Smart ADDs' logos and devices are the trademarks of Smart ADDs Inc. All rights reserved. All third party trademarks and/or copyright material are the property of their respective owners.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; the schedule and sell-through for new software release; consumer demand for video game hardware and software; the timing of the introduction of new generation competitive hardware systems, pricing changes by key vendors for hardware and software and the timing of any such changes, and the adequacy of supplies of new software product and those risks discussed in the Company's filings with the SEC.
In light of the risks and uncertainties inherent in the forward-looking statements, these statements should not be regarded as a representation by Tiger Telematics, Inc. or any other person that the projected results, objectives or plans will be achieved. Tiger Telematics, Inc. undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof