DALLAS, TX--(MARKET WIRE)--Mar 2, 2004 -- MDM Group, Inc. (Other OTC:MDDM.PK - News) advises that the Company has entered into agreement securing the ShockRounds Intellectual Property developed by Technosis, a member of the Girvan Business Venture Acceleration Network ('B-VAN"), located at the NASA Research Park, Moffett Field, California. The Girvan Institute of Technology fosters public-private partnerships for the National Aeronautics and Space Administration (NASA) that accelerate the development and application of cutting edge technologies by aligning NASA's mission needs with private-sector research and development and venture capital communities. See: www.girvan.org and search "Technosis."
The acquisition agreement provides for the issue to Technosis of 500,000 restricted shares of the Company and also of its proposed operational subsidiary, Harrington Group Limited (HGR). The Agreement is subject to an ongoing royalty of 4% of future ShockRounds sales and milestone payments over three years totaling $1,500,000.
By securing the ShockRounds Intellectual Property, the Company, along with the Technosis development team, is better positioned to further and directly address extensions and improvements to the technology. Technosis would still be paid ongoing royalty payments on any such Intellectual Property extension and/or improvement developed through this initiative.
ShockRounds are a potential breakthrough product for the law enforcement industry, the military and border control and anti-terrorism initiatives, due to their versatility and multiple applications. Whenfired, a ShockRounds enabled bullet generates an extremely high voltage charge. This voltage discharges instantly upon impact causing immediate target incapacitation. See: www.shockrounds.com.
ShockRounds "electrified" traditional full metal jacket bullets and rubber bullets will:
- Make law enforcement safer and more certain
- Save lives and ensure less collateral damage
- Reduce injuries and fatalities
- Enable far better control and effective enablement in aircraft, public places, arenas etc.
- Provide an effective anti terrorism and border control weapon
- Decrease legal liability and revolutionize the munitions industry
As announced previously, MDM Group has entered into a conditional agreement with HGR, a company listed on the Australian Stock Exchange (HGR.AX) to commercialize the company's ShockRounds non-lethal technology. Pursuant to this Agreement HGR will assume responsibility for the milestone payments and other obligations of the Company's Agreement with Technosis. See MDM and HGR Press Releases of 24 February 2004 at www.mdmgroupinc.com.
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.
MDM Group is featured on www.Homelanddefensestocks.com a global investment research portal for defense and security.
MDM Group Inc. Trevor Ruehs 866-894-3910 Trevor@mdmgroupinc.com
------------------------------------------------------------------------ Source: MDM Group, Inc.