Imagine Media Completes Acquisition of TransBiotec, Inc.
(firmenpresse) - DENVER, CO -- (Marketwire) -- 01/03/12 -- Imagine Media (OTCBB: IMLE) is pleased to announce that it has completed the acquisition of 97% of the outstanding shares of TransBiotec, Inc. ("TBT") in exchange for 23,390,140 shares of the Company's common stock. Prior to the acquisition the Company had 1,500,000 outstanding shares of common stock.
TBT has developed and patented a preventative drunk driving system named "SOBR" which is comprised of a blood alcohol detection system and ignition interlock device. TBT believes SOBR offers a unique solution to the national drunk driving problem.
SOBR can be either retrofitted or built into the steering wheel, yoke or trim of any machine, including automobiles, buses, trucks, boats and aircraft. For example, when a driver of a vehicle touches a sensor, the sensor detects vapors that emanate from the driver's hands, and determines if there is ethanol alcohol content. If SOBR detects an Ethanol Alcohol Concentration that is above a preset limit, the system does not allow the vehicle to start. In addition, SOBR initiates random real-time tests while the vehicle is operating to ensure that the operator's Ethanol Alcohol Concentration does not increase over the preset limit after the vehicle is started. If the system is tampered with, the vehicle will not start. If a vehicle is equipped with a Global Positioning System or Data Transmission Module, SOBR can alert fleet operators or others monitoring a vehicle of the detection of alcohol above legal limits.
The Company believes SOBR is the first product to the market of its kind. The detection sensor is specific to ethanol alcohol. Furthermore, when SOBR is installed, the system is virtually unnoticeable, unlike breathalyzer ignition interlock systems.
SOBR requires approximately one hour to install in a vehicle. The control box is mounted under the dash in the interior of the vehicle. In new vehicles the sensor can be installed as part of the steering wheel. In retrofits, the sensor is installed on the dashboard for easy access. The Company believes that the cost to manufacture and install SOBR on a vehicle will be approximately $150-$250 less than existing breathalyzer systems.
The Company has not authorized the release of this information in any form that contravenes the Communication Act and will not be responsible for unsolicited massive distribution of this material by e-mail or facsimile by unauthorized parties. Statements in this press release, which are not historical facts, are "forward-looking statements" within the meaning given to that term in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
For more information contact:
Charles Bennington
CEO
Imagine Media
Tel: 562-280-0483
Website:
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Datum: 03.01.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 1069443
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