InterCore Reduces Costs, Continues to Advance DADS Development
InterCore announced that development of its core DADS™ (Driver Alertness Detection System™) product has continued to advance, despite non-product challenges faced during 2015.
Boynton Beach, FL, January 12, 2016 --(PR.com)-- InterCore, Inc. (OTCQB: ICOR) today announced that development of its core DADS™ (Driver Alertness Detection System™) product has continued to advance, despite non-product challenges faced during 2015.
“At least two significant non-product challenges faced the Company during last year and slowed our progress. While these were being addressed, we used the time to re-examine our strategy and develop what we believe is the best plan for advancing the DADS product offerings,” said James F. Groelinger, InterCore’s President and CEO. He continued: “We reduced our staff by more than 80% and made commensurate reductions in operating expenses. The overall result is that our overhead has been reduced by more than $5 million annually. With these efficiencies in place, we are continuing with our DADS product development and I’m satisfied with the operating correction.”
ICOR management also noted that it would provide further guidance on anticipated DADS’s product development, potential sales, and corporate mission in the coming weeks.
About InterCore, Inc.
InterCore, Inc. (OTCQB: ICOR) is a public company focused on the commercialization of its Driver Alertness Detection System™ (DADS™); designed to alert trucking operators of the onset of fatigue. Ultimately, DADS is intended to save lives and property while providing comfort and reliability to its users and operators. See www.intercoreinc.com.
Forward-Looking Statements
This news release contains certain "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the U.S. Securities and Exchange Commission via the Edgar system. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.
Contact:
James F. Groelinger
info@icorinc.com
“At least two significant non-product challenges faced the Company during last year and slowed our progress. While these were being addressed, we used the time to re-examine our strategy and develop what we believe is the best plan for advancing the DADS product offerings,” said James F. Groelinger, InterCore’s President and CEO. He continued: “We reduced our staff by more than 80% and made commensurate reductions in operating expenses. The overall result is that our overhead has been reduced by more than $5 million annually. With these efficiencies in place, we are continuing with our DADS product development and I’m satisfied with the operating correction.”
ICOR management also noted that it would provide further guidance on anticipated DADS’s product development, potential sales, and corporate mission in the coming weeks.
About InterCore, Inc.
InterCore, Inc. (OTCQB: ICOR) is a public company focused on the commercialization of its Driver Alertness Detection System™ (DADS™); designed to alert trucking operators of the onset of fatigue. Ultimately, DADS is intended to save lives and property while providing comfort and reliability to its users and operators. See www.intercoreinc.com.
Forward-Looking Statements
This news release contains certain "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the U.S. Securities and Exchange Commission via the Edgar system. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.
Contact:
James F. Groelinger
info@icorinc.com
Contact
InterCore, Inc.
James Groelinger
561-806-6509
intercoreinc.com
James Groelinger
561-806-6509
intercoreinc.com
Contact
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