Business & Finance
Business and Finance
Business and Finance
Wed, November 26, 2008
Tue, November 25, 2008 Geospatial Holdings to Present at NYSSA 12th Annual Water Utility Conference on December 4th, 2008
PITTSBURGH--([ BUSINESS WIRE ])--Geospatial Holdings, Inc. (OTC BB: GSPH) today announced that Mark Smith, the Company's Chairman and CEO will participate in the New York Society of Security Analysts' 12th Annual Water Utility Conference to be held in New York City on Thursday, December 4th, 2008.
The Conference is being held at the NYSSA offices at 1177 Avenue of the Americas, 2nd Floor, New York City. Mr. Smith is scheduled to speak at 4:20 pm.
Geospatial's proprietary "Smart Probes" are "robotic-like" devices that travel through the pipelines carrying numerous sophisticated sensors. The Smart Probes collect 800 accurate x, y & z centerline coordinates per second as they travel through the pipeline. This data is held within the probe on a hard drive until the probe has traveled the entire length of the pipeline. At the end of the run, the Company's proprietary software extracts this data onto a laptop. Technicians can then either download the data onsite or send the data via the Internet to the server where the data can be downloaded into various types of GIS databases and passed along to the client.
Geospatial has developed a proprietary web-based data management portal, "GEO/Underground" to organize and manage all data pertaining to pipeline location and condition assessment. This software also allows coupling of the Smart Probes with commercially available pipeline assessment tools such as ground penetrating radar, video inspection, or leak/corrosion detection technologies and integrates the acquired data directly into the GEO/Underground portal. With GEO/Underground we have the capability to create a complete geo-referenced three-dimensional map of the world's underground infrastructure.
Mr. Smith described the GEO/Underground portal as follows, "Visualize holding a glass cube in your hand that depicts the City of New York including the actual buildings, the streets and all of the piping and tunnels below the streets. As you rotate the cube in all directions, you could examine and accurately measure the distances between any two points within the cube. This is the proprietary 3-D view of the world's underground infrastructure presented by Geospatial through our GEO/Underground web-based portal."
The New York Society of Security Analysts (NYSSA) has been a leading forum for the investment community since 1937. That year, a small group of security analysts decided to turn their casual lunch gatherings into a series of regular meetings. They held an organizational luncheon in a private dining room of the New York Chamber of Commerce. It was there that NYSSA was conceived, with a membership of approximately 20 analysts, including Benjamin Graham, the "father of securities analysis" and one of the most influential men in the history of finance. In September of that year, the Society held its first formal program, at which Lawrence Klybert of Alexander Eisemann & Co. spoke on "Options – Their Effect on the Market Price of Stocks." By 1939, the Society had grown to 82 members. Today, with more than 11,000 members, NYSSA is the largest of the more than 135 societies worldwide that comprise the CFA Institute.
ABOUT GEOSPATIAL
Based in Pittsburgh, Pennsylvania, Geospatial operates globally through its wholly-owned operating subsidiary, GMSI. (d/b/a Geospatial Corporation). GMSI is an innovative solutions provider of proprietary technologies that permit the accurate mapping and interior geometry assessments of underground pipelines. GMSI's technologies permit the Company to economically collect, store and retrieve XYZ mapping coordinates of a pipeline centerline to create three-dimensional Geographic Information System (GIS) databases. GMSI is the exclusive licensee of the DuctRunner Smart Probe™ Pipeline Mapping Technology throughout North America, South America and Australia.
Additional information on Geospatial can be found on our website at [ www.geospatialholdings.com ].
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Company's beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on management's beliefs, assumptions, estimates and projections and are not guarantees of future events or results. When used in this document, the words "anticipate," "estimate," "believe," "plan," "intend," "may," "will" and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission (the "Commission") on March 10, 2008 and in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Report on Form 8-K filed with the Commission on May 1, 2008 and 10-Q filed on November 21, 2008. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. In addition, our actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, we do not assume a duty to update forward-looking statements, whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by the Company from time to time in its periodic filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by the Company in this news release are qualified by these cautionary statements.
