SubscribeAn update on the current projects being carried out by security device manufacturers, BQT Solutions.
ASIC "BOLSTERS" Security By Upgrading To BQT
The Australian Security & Investments Commission (ASIC) has begun deploying BQT's miPASS DESFire range of Biometrics, smart card and communications encrypting technology for new and existing sites around Australia.
The DESFire technology normally used by correctional facilities, law enforcement agencies and military offers an unrivalled level of encryption between the ID/Access smart card and the card reading devices such as the miPASS Biometric fingerprint readers.
The Biometric devices are being used in areas security is an absolute must of ensuring that the card holder, who has access to these points, is the person carrying the card, by encoding and encrypting the user's biometric data for verification.
To bolster the security even further, HSM (High Security Modules) have also been deployed in conjunction with the miPASS DESFire technology, which encrypts the communication path between the access points and the system controllers by utilizing the highest form of encryption available today.
This project is not only important to us as a great reference site but also in monetary terms.
Beijing Television Station
Today we have received orders to supply the BQT high-end security technology for the Beijing TV Station. This project was won against major international competitors. Over the past year we have seen substantial sales growth in the China market and we are expecting further projects to be concluded in 2007.
Military/Defence
We are now seeing a sound base to the company's income stream. The successful conclusion to a number of large projects is now coming together. For instance, a major project of a military nature has now commenced and BQT estimates the total value to the company is $10,000,000 and will probably be spread over approx 3 years. The first order has been received with a stronger ramp up in the immediate future. Again this project has taken approx 3 years to conclude, because of the customisation of the client's requirements and their lengthy testing and approval process.
Middle East Air Force
BQT has worked on a major security upgrade for the Air Force in the Middle East for the past 4 years. It has only been in the last few weeks that we see signs of a conclusion to this major project. This project is one of the largest that BQT has been involved in.
(A separate announcement will be made in more detail at a later date.)
Australia Post
Australia Post is currently upgrading security in its postal office's nationally, and they have selected BQT' SmaX Access Control system for a number of its offices across Australia. Currently BQT's SmaX system has been installed in post offices in WA, NSW, Queensland, SA, Victoria and Tasmania, with further sites being rolled out.
It is pleasing to note that many Australian Government Institutions are selecting BQT's technology and products.
(A separate announcement will be made in more detail at a later date)
Middle East
There had been a delay in a large project in the Middle East valued at $2,400,000 however we have been advised by our international client that the commencement should take place within the next month. As we have advised the market this project will be spread over 22 months.
Stage 1 value of $2,400,000, with a further 4 stages to follow.
Dubai
We have been advised by a valued client that the BQT technology and products will be used for the high security requirements of the "Tallest Building in the World" currently being built in Dubai.
This will be a prestigious project for our company.
(A separate announcement will be made in more detail at a later date)
Encryption Technology
Within the next 4 weeks, BQT will have completed the final testing of its Encryption Device specifically designed to overcome a weakness in the security of an overseas Government. We believe our client, servicing their Governments security requirements at the highest level will require approximately $3,000,000 of the BQT technology and products.
This has been a 2 year project for BQT and has been a custom designed solution. The ongoing potential is significant as the initial $3,000,000 we estimate is for retrofit. All additional new installations will require the BQT Encryption solution.
OEM
Two of the world's leading security companies have selected BQT to be the OEM supplier for their global security requirements. This is an important development for BQT because these international companies have hundreds of offices across the globe plus thousands of staff trained to sell security products. 2007 will see substantial growth in sales from OEM products.
CCTV & Surveillance
As we have advised the market, BQT has entered the CCTV market with advanced software, such as `Face in a Crowd - Facial Recognition', `Non-Motion Detection'. We believe this market, particularly at the top end is a market we must be in as it allows BQT to add to its already extensive range of technology and products. These new software is important as it allows the tracking of `person's of interest' such as terrorists, together with the planting of objects, such as explosives in public areas.
Our technology is about to be installed in one of Australia's largest developments.
(A separate announcement will be made in more detail at a later date)
Recently our team met with major clients overseas and demonstrated the new software which would be a significant solution to prevent major terrorist attacks. We have been requested to return overseas to physically set up a live demonstration of our technology for Government, Military & Financial Institutions. In our opinion this is advanced technology and sets BQT at the forefront of the CCTV industry.
Specialised Projects
Currently BQT is completing on behalf of a major international client a specifically designed product. BQT was selected by this client because of BQT's advanced knowledge of the high security industry. BQT's turnaround time won this project, with an initial order for $100,000 of product to be supplied.
This client is technically advanced and there is a big opportunity for BQT to supply this new product which could be rolled out through their Global Network Sales, Installation and Technical Support staff.
2006 Product Releases / Distribution Model
- SmaX/Distribution - This year has already seen the release of the SmaX Access Control system. The next step in its release is to have 100's of distributors globally within the next 12 months. Overall BQT aims to appoint 500 distributors globally. The SmaX Access Control system is designed to be price competitive, easy to install and importantly easy to manage - "the security manager could be the receptionist in the office." This product comes with a high end security application that in many ways exceeds some large scale controllers sold by large security companies.
- Generic Readers - BQT's Generic miPASS readers package allows this technology to be sold globally via the web or through distributors. These readers are supplied to the distributors so they can specifically customise the reader technology for their client's security requirements, allowing them function autonomously from BQT.
Already BQT Australia has appointed 10 distributors and further distributors in Singapore and Thailand. This is an important change to our business model, as to date BQT has concentrated of large scale developments mainly of a Government or Military basis. This will balance BQT's income stream and will allow the company to not be fully dependent on large projects with the long lead times.
We envisage that 2007 will see an exciting expansion of business as our distribution model grows.
Summary
Because of the high security nature of many projects BQT is not permitted to mention details of clients or projects associated with them. Major projects have a lead time of months or in some cases years, but the rollout of the security can also take the same time because there are many buildings involved and logistically, it takes time to install the security technology. The time it takes to win these major projects is not insignificant.
As BQT has always been innovative in its technology and in the way it does business generally and as a result has designed new products which will give a better balance to its business model and cash flow. With new product releases that have been 3 years in the making and has had a significant R&D cost, however this work is now behind us and 2007 will be a stronger company in all aspects.
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