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Dear Reader,
I'm sure you will recall our recent profile on Braintech Inc. (OTCBB: BRHI), one our most fascinating profiles in a long time. Braintech's technology allows robots to SEE what they are doing, to take a greater role in assembly and manufacturing and provide tremendous cost savings to its users, which include some of the largest auto makers in the world.
Today's news from Braintech should come as no big surprise - on the heels of its best quarter ever, it is adding two top level executives to its board of directors. Success bread success and we are watching with great anticipation as BRHI takes strong strides toward executing its business plan. BRHI recently reported its quarterly results (June 30, 2005) with revenues of $540,000, an increase of about 420% from the March '05 quarter. That's progress! Click on this link to see BRHI's detailed financial summary.
If you missed our July 18th full profile on Braintech - Click on this link to view it.
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*BREAKING* News From Braintech |
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Press Release
Source: Braintech, Inc.
Monday August 29, 8:00 am ET
Braintech Adds Two U.S. Directors to Board
New Directors to chair Audit and Governance Committees
VANCOUVER, British Columbia, Aug. 29 /PRNewswire-FirstCall/ -- Braintech, Inc. (OTC Bulletin Board: BRHI - News), a leading provider of vision guided robotic ("VGR") software solutions, announced today that Richard M. Torre of California and Dr. Drew Miller of Nebraska have joined Braintech's Board of Directors.
Owen Jones, Braintech's CEO, states, "Braintech shareholders are very fortunate to have these two individuals with their extensive business backgrounds join our company as independent directors. Each brings strong financial and business expertise that will help the Board guide Braintech through its initial growth phase. I'm very pleased that both Dick and Drew have consented to act as Directors and look forward to drawing on their expertise and experiences to achieve our objectives."
Following are brief resumes of each Director:
Richard M Torre has over 30 years of diversified national and international finance and business experience in New York, Dallas, Los Angeles and Montreal, specializing in mergers and acquisitions, corporate finance and investment advisory services. Mr. Torre is an active board member for a variety of public and private firms and civic organizations. Presently he is Chairman of Signature Eyewear Inc (OTCBB) and The Hydrogen Fund as well as Vice-Chairman of JLM Foodservices Inc. He is also President of MMT Investors Inc., Managing Partner of Dauntless Capital Partners, LLC, and a member of the Boards of both Airecomm Wireless Inc and Cosco Inc. He has completed terms as Vice-Chairman of Pacific Mercantile Bank (NASDAQ) and as Chairman of Exceed Capital Holdings (CDNX). He is the former Chairman of the highly regarded Forum for Corporate Directors and is currently a member of the Executive Board of the Graduate School of Management at the University of California, Irvine. Additionally he is a member of the Association for Corporate Growth and the Southern California Investors Association. Mr. Torre's corporate career began with Mill Factors Corp. and subsequently included Philadelphia National Bank/Congress Financial and Bank of Virginia in their New York and Montreal subsidiaries. Subsequently he served as senior Vice-President of Heller Financial in Los Angeles, responsible for the firm's factoring and asset based lending on the West Coast, the Orient and Australia. He has been a guest lecturer at Pepperdine University, the U.S. Naval Institute, City College of New York, Woodbury University, the New York Institute of Credit (it's former President) and Melbourne University on a diverse range of topics, principally business finance and strategy and tactics of the Pacific War 1937-1945. Particularly notable has been his commitment to the establishment of the USS Missouri as a National Monument at Pearl Harbor and his support of the National World War II Memorial, Washington D.C. which was commissioned as a National Monument on May 29, 2004.
Mr. Torre will be appointed as Chairman of Braintech's Corporate Governance Committee and will assist with financing and the development of corporate strategy.
Dr. Drew Miller has been the President of Heartland Consulting Group since 1994. He serves on the Board of Directors and Audit Committee of Signature Eyewear Inc (OTC). In past positions he served as President of Financial Continuum, a financial planning firm; Vice President of Planning and Development at Securities America, one of the largest independent broker- dealers in the United States; and President of Global Vantage Securities, an investment banking firm. Dr. Miller is a Certified Management Accountant, Certified Mergers and Acquisitions Advisor, Certified Financial Planner and a Certified Government Financial Manager. Dr. Miller began his business career at ConAgra Inc in their Corporate Planning and Development department after serving as an Air Force intelligence officer. Dr. Miller served in the Pentagon in the Senior Executive Service, and continues to pursue defense analysis work as a consultant with the Institute for Defense Analyses and a Colonel in the USAF Reserve. Dr. Miller is a summa cum laude graduate of the U.S. Air Force Academy, and received an academic scholarship to Harvard University's Kennedy School of Government where he earned a Masters Degree and PhD in Public Policy. He currently serves as a member of the University Of Nebraska Board Of Regents.
Dr. Miller will be appointed as Chairman of Braintech's Audit Committee and will assist with the company's development of new business opportunities in the government and defense industries.
About Braintech -- For more information, visit www.braintech.com.
Statements in this document that are not purely historical are forward- looking statements and reflect the current views of management with respect to future events and are subject certain risks, uncertainties and assumptions. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technical difficulties in developing the products; competition from other suppliers of similar products; pricing that may not be acceptable to potential markets; and many other known and unknown factors. Readers should also refer to the risk disclosures outlined in the Company's 10-KSB and 10-QSB Forms filed from time to time with the SEC.
Contact:
Jennifer Summers
Braintech Inc.
#102 - 930 W 1st Street
Vancouver BC V7P 3N4
604-988-6440 x 202
jsummers@braintech.com
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About Braintech |
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Braintech, Inc. ("BRHI") (OTCBB: BRHI), is headquartered in Vancouver, Canada with offices in Detroit, MI and the technology corridor of Northern Virginia. A public company since 1994, Braintech researches and develops software technologies and products for industry.
Braintech's flagship product, eVisionFactory™, (“eVF™”) is a software application for developing 3D-Machine Vision solutions. eVF includes Braintech's award winning and patented single camera 3D, (SC3D™) guidance technology that enables a robot to “see.”
Braintech Received the Prestigious Henry Ford Technology Award
Recognizing its Exceptional Technical Contributions
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Vision Guided Robotics (VGR) is a “Disruptive Technology”
Braintech is the only VGR software supplier to produce a software application capable of handling the wholesale adoption and high volume demand for VGR systems seen as the next manufacturing wonder machine.
Braintech solved the rapid expansion requirements that a new market demands by exclusively partnering with industrial giant ABB, who has introduced Trueview Vision Guided Robotic Systems featuring eVF.
Trueview has established itself as the “best-of-breed” system with close to 100 systems installed with major automakers and auto-parts suppliers.
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"Seeing" Robots are Rapidly Changing the Landscape of Manufacturing
Click here to read about how auto parts makers have embraced Vision Guided Robotics into their factories - Manufacturing Automation: June 2005 |
Now, for the first time, vision guided robots (VGR) can perform tasks that radically reduce two major manufacturing costs:
1. Seeing robots can replace humans operators for many of the difficult to automate operations and eliminate associated costs of wages, injuries and pensions;
2. Seeing robots do not require costly, exact fixturing and eliminate associated capital costs of expensive conveyors, grippers and dunnage.
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The Payback of a VGR System is Less Than Six Months
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Source: UN 2004 World Robotics
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Investment Highlights |
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Braintech's Major Priorities are Profitability and Increased Shareholder Value |
Braintech adopted a business strategy to develop a new product for a new category. As evidenced by its past financial performance this requires significant investment without any guarantee of success.
What is clear is that BRHI business plan is starting to work. BRHI has achieved the following key factors of success:
1. A proven product
2. Secured a Global Channel Partner
3. Installed “first-orders” systems with most of the world's automakers
4. Repeat orders
5. Increasing Revenues.
It's because of these achievements that Braintech management can now shift focus and concentrate on increasing sales. While continuing business development initiatives with ABB, penetrating the government sector and on-going development of Cobuss, BRHI is supporting ABB to sales blitz the Trueview Material Handling of Rigid Parts System.
Management believes a threshold of customer acceptance has been achieved and that wholesale adoption of this system is possible. An independent survey suggests that in engine assembly plants alone there are as many as 30,000 potential installations worldwide. Closer to home, BRHI/ABB anecdotal analysis confirms many 10's of installations per plant.
The Braintech / ABB Strategic Alliance has succeeded in selling VGR solutions into the automotive industry and as of 2004 the Trueview product set with the eVF software platform and Braintech vision guidance technologies has attained wide industry acceptance. Currently, eVF-driven Trueview systems handle millions of parts on assembly lines flawlessly.
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For example, Braintech software inside the Trueview system has been installed at Ford Motor Company, General Motors, TI Automotive Group, ZF Batavia, Pullman Industries and a Toyota Group company, among other major manufacturers. |
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Recent News From Braintech |
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Press Release
Source: Braintech Inc
Tuesday July 5, 8:00 am ET
Braintech to Launch eVisionFactory as a 3D-Machine Vision Software Studio
at the 2005 International Robots and Vision Show
Idaho National Laboratory to co-present an eVF(TM) built solution at show conference
VANCOUVER, British Columbia, July 5, 2005 (PRIMEZONE) -- Braintech, Inc. (OTC BB:BRHI.OB - News), a leading provider of vision guided robotic, ("VGR") software solutions, announced today that it will be exhibiting at the 2005 International Robots & Vision Show, September 27-29th at the Rosemont Convention Centre in Rosemont, Illinois.
To read the entire news release - Here is the link
Press Release
Source: Braintech, Inc.
Wednesday June 1, 8:00 am ET
Braintech / ABB Strategic Alliance Continues to Expand Sales of TrueView Systems to Existing Customers
Fourth Application of TrueView System Into Transmission Operations of Major Domestic Manufacturer
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 1, 2005--Braintech, Inc. (OTCBB:BRHI - News), a leading provider of vision guided robotic software, announced today that it has received a purchase order from ABB for two (2) eVisionFactory(TM) (eVF) built solutions. eVF is the ingredient software platform inside ABB's TrueView(TM) Vision Guided Robotic System.
The order from ABB is for a North American Automaker, and represents its fourth application of the technology into transmission operations. This continues to validate the industry's expanding utilization of TrueView Vision Guided Robotic Systems and underscores the value of the ABB / Braintech strategic alliance.
ABB, Inc. (NYSE:ABB - News) of Auburn Hills, Michigan and Braintech operate together under a strategic alliance whereby ABB uses Braintech's vision guidance technology to power its TrueView Vision Guided Robotic System.
To read the entire news release - Here is the link
Press Release
Source: Braintech, Inc.
Tuesday May 31, 8:01 am ET
Braintech Gains New Japanese Automaker Orders Through ABB Alliance
ABB Strategic Alliance Delivers New eVisionFactory Orders for Multiple Applications in North American Plant Location
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 31, 2005--Braintech, Inc. (OTCBB: BRHI - News), a leading provider of vision-guided robotic software, announced today that it has received a purchase order from ABB for five (5) eVisionFactory(TM) (eVF) built solutions. eVF is the ingredient software platform inside ABB's TrueView(TM) Vision Guided Robotic System.
The order from ABB is the first order for a North American plant of a major Japanese Automaker. The five (5) systems ordered will be used with five (5) different parts. This further validates the industry's expanding utilization of TrueView Vision Guided Robotic Systems and underscores the value of the ABB / Braintech strategic alliance.
To read the entire news release - Here is the link
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Financial Highlights |
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| Shares Outstanding 22,844,000 |
Trailing 12 Mo. Sales Growth (9/30/04) 90% |
| Market Cap (est) $10.3 M |
Price/Sales 16.4 |
| Float 51% |
ROE 741% |
| Avg Daily Volume (90-day) 15,342 |
Current Ratio 1.58 |
| 52 Week Range $0.32 - $0.99 |
1 yr Stock Performance (3/2/05) +74% |
BRHI vs.XCI Sector Comparative Returns
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To view the latest 10Q from BRHI on the SEC Web site, Click Here
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TO CONTACT BRHI |
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Braintech Headquarters
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