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Amwest's New Technology LokDrop, Powered by BION, to Release Secure Solution for File Sharing(December 15, 2011)
EVANSVILLE, IN -- (Marketwire) -- 12/15/11 -- Amwest Imaging Incorporated (OTCBB: AMWI) earlier this week announced a joint venture agreement with BION Enterprises, LLC (www.BionTrack.com). The first product slated for release by Amwest and BION is the first public, secure file-sharing infrastructure at www.lokdrop.com, powered by BION.
The Problem: Lack of security of Digital media is a constant threat to many businesses, organization and individuals. The file sharing industry today offers users a convenient way to share files, but with little or no security. Many groups prohibit their employees from using the popular Cloud-based file sharing services. Despite limitations, the $4 billion valuation industry leader Dropbox obtained this past summer illustrates the massive size of this market. (See: Techcrunch - August 30, 2011)
The Solution: Jason Gerteisen, President of Amwest, commented, "LokDrop provides the safe and secure solution with all the ease of use features that have been highly popular with users, and the security feature sets that the large corporations and government agencies have been clamoring for."
"Our SmartFile technology adds one final layer to LokDrop's powerful solution," said Mark Gray, Co-founder and CEO of BION. "Our patent pending technology acts like 'LoJack' for digital files and documents, reporting in with the IP address, date and time stamp and more, each time a file is opened or viewed."
"We are the audit trail and chain of custody for any document that is important to you," added Wyly Wade, BION's co-founder and CTO. "Together, LokDrop and BION provide the world's most secure and trusted solution for file sharing." And in a world where digital files have exploded in volume through emails and social media security for your most sensitive documents, this is priceless.
BION is a Cloud-based, software as a service ("SaaS") provider of patent pending SmartFile technology. The patent pending SmartFile technology is not permission based, is invisible, accurate and works on the most popular file formats. The centerpiece of BION's SmartFile reporting system is our digital "Tag." Once inserted into any ordinary computer file, the SmartFile technology is instantly activated for the life of the document. Reporting begins immediately.
LokDrop, a wholly owned subsidiary of Amwest Imaging, Inc. (OTCBB: AMWI), is a secure file hosting and storage service. Users can take advantage of LokDrop Online Storage as their secured digital safe deposit box. You can access, store, share and backup digital information in a secure, private and encrypted location. Use it to access and share critical data from anywhere in the world.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
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