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   Microcap & Penny StocksPRAV Paradigm Advanced Technologies, Inc.


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To: Bill Fortune III who wrote (428)4/2/2002 10:05:36 AM
From: jimpit
   of 466
 
Yes they are!

Here's Paradigm's PR announcing their year-end results...
Enjoy.
____________________________________________________________
Tuesday April 2, 7:55 am Eastern Time
Press Release

SOURCE: Paradigm Advanced Technologies, Inc.

Paradigm Advanced Technologies Announces a Record 5,070-Percent Increase in Revenue for 2001

TORONTO--(BUSINESS WIRE)--April 2, 2002--Paradigm Advanced Technologies, Inc. (OTCBB:PRAV - news) today announced that the year ending December 31, 2001, was a very successful year for the company. Product sales and royalties revenues for 2001 were U.S. $2,346,506 compared to U.S. $45,382 in 2000, an increase of U.S. $2,301,124 or 5,070%. The Company's products can now be found in numerous countries in North and South America, Europe and Asia.

``We are absolutely delighted with the business results. Our revenues have increased by at least 60% each quarter over the previous quarter during 2001 and we are confident that we will continue growing at a substantial pace in the near future. Market acceptance of our quality products has been well beyond reasonable expectations. During 2001 we executed several distribution, software license and development agreements. Our products have been shipped to numerous countries worldwide and our company, products and technology have been reviewed extensively in the electronic, print and TV media. During this year, immediately after the tragic events of September 11, 2001 our L-Biz(TM) technology was selected to assist in the recovery operation at the World Trade Center disaster site, and we were a significant contributor to the savings in time and money this operation is costing. Our employees, managers and associates are to be congratulated for their outstanding contribution to these superb results,'' said Eduardo Guendelman, President & C.E.O. of Paradigm Advanced Technologies.

Financial Results (U.S. Dollars)

Consolidated sales revenues in 2001 reached $2,346,506 compared to $45,382 for the year 2000, representing an increase of 5,070%. Quarter by quarter results were $60,705 in Q1, $329,035 in Q2, $751,616 in Q3 and $1,205,150 in Q4, respectively, showing a solid and progressive growth profile. Revenues grew 60% in Q4 over Q3, primarily due to rapid market acceptance of the Destinator(TM) product.

Gross margin achieved in 2001 was $1,010,374 or 43% versus 16% in 2000.

Operating expenses including interest costs for the year decreased from $46,158,697 to $22,528,166 in 2001, or 51% lower, largely due to smaller acquisitions, even though the company introduced new products, entered new markets, expanded and focused its sales efforts and hired necessary personnel. Most of the expenses were ``non-cash'' for acquisitions and financing purposes. Company management has devoted a considerable amount of effort to establishing innovative agreements with core contracted and consulting personnel to minimize 'burn rate' and conserve shareholders' capital.

While the company, like many others in its phase of development, incurred a substantial loss of $21,535,088 in 2001, the size of its loss compared to the prior year's of $46,151,350 was more than halved. Of the 2001 loss, $17,014,949 did not require an outlay of cash but was incurred for acquisitions and financings.

Destinator(TM) Results (U.S. Dollars)

Paradigm's Destinator(TM) suite of navigation products was launched in July of 2001 and achieved sales of just under $900,000 before year-end. Destinator(TM) sales accounted for 38% of corporate revenue during the past year. Recently, the Louisiana State Police publicly recognized the company for the contribution made by Destinator(TM) technology in helping to apprehend a suspected murderer of a Louisiana police officer.

The Destinator(TM) in-car and personal navigation system provides real-time, turn-by-turn voice and visual instructions. Products include text and voice prompts in English, French, Italian, German, Spanish and Hebrew. All products include high quality street maps of a large region, as well as the major points of interest. The company is shipping products with maps of the U.S.A, Canada, Europe, and some of the Middle East.

Destinator(TM) was recognized with the People's Choice Award of America's Pocket PC Magazine in 2001, only four months after its introduction. More recently, Destinator(TM) earned the title ``Best of Breed'' by Germany's Pocket PC Magazin, after earning the People's Choice Award for Europe's PC Magazine earlier.

As previously announced, Paradigm's first licensing agreement with an Original Equipment Manufacturer (OEM) was signed in early 2002 with Viasat S.p.A., one of Europe's leading companies in the area of vehicle security and tracking. Viasat is owned by Magneti Marelli (Fiat Group) and SEAT (Telecom Italia Group, Italy's largest mobile carrier).

The Destinator(TM) software was chosen by Viasat to be the exclusive navigation module in their new telematics product. Viasat's new system is an enhancement to their vehicle tracking device, adding to it new features such as television, navigation and location based services, utilizing a Windows CE based computer and a high-resolution screen.

Destinator GMBH, with whom Paradigm recently signed a further $11 million licensing agreement, is an independent master distributor for the Destinator(TM) products in Germany, Austria, Switzerland, Luxembourg, Belgium and Holland. Destinator GMBH licenses the Destinator(TM) software from Paradigm and is seeking and executing distribution agreements within the marketing area. As part of the agreement, Destinator GMBH is providing and managing any and all operations activities and facilities such as manufacturing, assembly, fulfillment, marketing, public relations and multilingual customer support.

In Japan, Destinator(TM) navigation units are being promoted to personal digital assistant (PDA), smart handheld device (SHD) and smart phone manufacturers. Partners and licensees are being sought for the patent (for which Paradigm owns the worldwide licensing rights) among Japanese cellular phone manufacturers that manufacture cellular phones equipped with GPS capability utilizing the patented technology and process in order to comply with the FCC E911 mandate in the United States.

Destinator(TM) was featured in a front-page story in Israel's Ha'aretz newspaper, as well as on Canada wide features on the Discovery Channel, CTV and Global Television Networks in addition to coverage in major American and European wireless/GPS print media. Paradigm's Chief Executive Officer appeared on Emerging Company Report, a U.S. based business investor television program. Company personnel were well received at more than six North American and European industry trade shows.

PowerLOC's VLD and Tracker(TM) Results (U.S. Dollars)

Paradigm's PowerLOC division, which focuses on the delivery of vehicle, personal and asset location devices as well as tracking and location base platforms, experienced another year of continued growth and outstanding market acceptance. Its revenues were approximately $1,500,000, which accounted for 62% of corporate revenues. As stated above, the company was honoured to have its tracking technology selected by New York City's Department of Design and Construction (with support from F.E.M.A. (Federal Emergency Management Agency)) to help manage the fleet of trucks removing material from the Ground Zero World Trade Center disaster recovery project. The company's technology has been credited with helping to reduce the number of trucks initially required by some 40% and contributing to the completion of the project earlier than originally projected.

Paradigm's contribution to the World Trade Center disaster recovery project was depicted in numerous periodicals including Canada's National Post newspaper early in March 2002 and will be featured in upcoming issues of American Metal Markets Magazine, Hazardous Materials Management Magazine and Material Management.

During the year 2001 the company also announced that it was developing a new high security tracking system called Secur-IT-Trac(TM), which will provide enhanced assurance of cargo integrity, particularly for cross-border transportation. Significant enhancements were also made to existing VLD technology.

Patent Progress

During 2001, emphasis on the patent was on finalizing research to tighten and optimize all aspects of the patent licensing program particularly as it relates to the newly mandated U.S. FCC E911 regulations. The company identified substantial corporate interests whose operations and/or technology infringe upon Paradigm's patent rights and entered into serious negotiations with several carefully chosen parties. Using specialized legal counsel, the company's strategy is to secure hallmark agreements with one or more significant corporations and then leverage that relationship with other users of the patented technology. As material agreements/results are reached in what is obviously a lengthy process, shareholders will be advised.

For Detailed Financials

For detailed financial results, go to freeedgar.com. Look for 'Paradigm Advanced Technologies' under ``search filings''. Once you enter a full company name, select ``view filings'', chose ``10K'', and go to ``body''.

ABOUT PARADIGM ADVANCED TECHNOLOGIES, INC.

Paradigm Advanced Technologies, Inc. (OTC BB:PRAV - news; powerloc.com) provides a full range of wireless location tracking technology solutions to service providers and end users in the telematics, GPS, M-Business, L-solutions and CRM/ERP markets. Paradigm's servers, software and devices locate, track, navigate, communicate with and manage people, vehicles and other assets. Paradigm's technology was chosen to help track recovery vehicles at the World Trade Center disaster recovery site. ``Destinator(TM)'' (http://www.destinator1.com) won the prestigious People's Choice Award of America's Pocket PC Magazine in 2001 and a similar award in Germany this year. Destinator(TM) technology provides a breakthrough experience in vehicular navigation and communication. Paradigm owns the exclusive licensing rights to a broad based wireless location patent (U.S. Patent no. B1 5,043,736) covering the apparatus and method of transmitting position information from satellite navigational signals (such as GPS) over cellular systems. For further information on Paradigm and its PowerLOC division, visit www.powerloc.com or call (905) 764-3701.

Paradigm is also listed on the Frankfurt Stock Exchange - symbol - PG8.

This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm Advanced Technologies, Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigm's actual results may differ significantly from the results discussed or implied in such forward-looking statements.

--------------------------------------------------------------------------------
Contact:

Paradigm Advanced Technologies, Inc.
D. Brian Hay, 905/764-3701
____________________________________________________________

biz.yahoo.com

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To: jimpit who started this subject4/3/2002 8:42:54 AM
From: mpnunes
   of 466
 
Patent-
I am posting this here because I am sick of all the mindless banter on the RB board. There was a post this morning re PRAV's patent (http://ragingbull.lycos.com/mboard/boards.cgi?board=PRAV&read=154401), which indicates that the patent may only be relevant for GPS transmitted over analog cellular networks. If so, the commentator (Wireless Location News) implies that the patent may not be relevant in today's telecom environment when most cellular networks are becoming digitized. Let me say from the outset that I AM NOT A BASHER, but I am very concerned about these statements (because I was lured into this stock because of the potential of the patent). I have not reviewed the patent in sometime, and am by no means a patent expert, but I am wondering about the credibility of these claims. I will try to do some more research on the patent to get a better interpretation of it, but if there's anyone out there with some patent expertise, I'd appreciate your comments. Thanks.

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To: mpnunes who wrote (430)4/3/2002 8:50:48 AM
From: Dave
   of 466
 
Its been over two years and not one large company has licensed this patent, but management still claims that they are in talks with "secret" vendors.

Paradigm does not have the money to file suit and these carriers and vendors know this. I doubt they will license, instead they will litigate.

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To: Dave who wrote (431)4/3/2002 9:19:57 AM
From: mpnunes
   of 466
 
Dave et al
If the patent is worthless, can PRAV sustain itself on revenues from its gps products alone. Recent revenue generation (most of which came from Destinator, I believe) is a good start, but the company will have to make over $25 million a year to be profitable (assuming of course that expenses don't increase). Is this a possibility? How much did Trimble Navigation make last year?

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To: mpnunes who wrote (432)4/3/2002 9:25:36 AM
From: Dave
   of 466
 
Mpunes,

You must also look at the number of shares outstanding and the company is funding their current operations by continuing to issue shares. That is not good for investors.

While TRMB posted a loss, they are cash flow from operations positive, which is a good sign.
biz.yahoo.com

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To: Dave who wrote (433)4/4/2002 8:14:47 AM
From: mpnunes
   of 466
 
IMO, the current dilution is acceptable IF the company is making strides toward profitability, which it seems to be doing. The key will be to watch revenue generation over the next few quarters. If it doesn't keep coming in at the 60%+ growth rate, we could be in trouble. I am not a trader, and have held my position on this company for over 2 years, so at this point it's either all or nothing. I am frustrated with the patent situation. However, the consumer market for GPS is in its infancy, and PRAV could be in the right place at the right time with the right products and solutions (destinator, fleet and asset management services, etc.). TRMB's revenues for its fleet and asset management and its technology components divisions totaled more than $100 million in 2001, so there is a market for these products. Revenue from the patent, though increasingly unlikely, would be a nice bonus.

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To: mpnunes who wrote (434)4/4/2002 8:17:33 AM
From: Dave
   of 466
 
If you consider a 40% rise in outstanding share in a quarter "acceptable", so be it. It is just your ownership in the company that is being watered down.

The problem is that the company is "burning" through cash faster than it can generate it. I feel for you if you have owned this company for over two years. There are much better companies out there if you want to have a position in GPS.

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To: Dave who wrote (435)4/4/2002 8:47:44 AM
From: mpnunes
   of 466
 
Dave-
You say "There are much better companies out there if you want to have a position in
GPS. "
What's your interest in PRAV, then?

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To: mpnunes who wrote (436)4/4/2002 9:16:03 AM
From: Dave
   of 466
 
b/c of Jimpit. We go way back...

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To: jimpit who started this subject4/6/2002 11:31:48 AM
From: Dave
   of 466
 
Good pick guys, still going down the toilet.

It appears that I am going to go 2-0 with you Jimpit.

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