Business
Route1 Takes Action to Collect Delinquent Accounts
TORONTO, Jan. 4 /CNW/ - Route1 Inc.(TM) (TSX-V:ROI), the trusted provider of security and identit...
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 4 /CNW/ - Route1 Inc.(TM) (TSX-V:ROI), the trusted provider\nof security and identity management network solutions, announced today that it\nhas filed Statements of Claim against certain customers relating to\nnon-payment of invoices. The customers have maintained that based on\nnon-sanctioned verbal representations made to them by certain employees of\nRoute1 who are no longer with the Company, they were not obligated to make\npayment in accordance with the terms of the written binding purchase\nagreements. As reflect in the Statements of Claim, the customers entered into\nbinding written agreements with Route1 to purchase MobiKEYs that were\ndelivered in 2007 for which revenue of approximately $500,000 was recorded\nduring the nine months ended September 30, 2007 on the strength of these\nagreements. To the best of Route1's knowledge, the customers in question are\nsolvent and Route1 intends to take all necessary steps to pursue its rights\nand collect the full amount owing to the Company.\n\n\n"We are confident in our legal position given the binding nature of the\npurchase agreements in question," said Andrew White, President and CEO of\nRoute1.\n\n\nABOUT ROUTE1 INC.\n\n\nRoute1 is the trusted provider of security and identity management\nnetwork solutions that are redefining today's digital landscape. At the heart\nof Route1's solutions is MobiNET, a communications and service delivery\nplatform focused on identity management and entitlement-based access to\nresources. Leveraging the power of MobiNET is the award winning MobiKEY, an\nultra-portable computing device that securely connects users to the myriad of\nMobiNET services from any Internet-enabled Windows-based PC. This patent\npending computing solution is embedded on a smart-card enabled, cryptographic\nUSB device, making it one of the most powerful and easy-to-use secure\ncomputing solutions available today. MobiKEY enables users to connect to their\ndesktop data, applications, network resources, and web content with services\nsuch as TruOFFICE and PurLINK. Route1's patent-pending solutions, based on\nFIPS-140-2 cryptographic modules, meet the stringent security needs and high\nstandards mandated by all levels of government. They have been evaluated by\nICSA Labs and certified by the CSE. As a Company with high regard for\nintellect...