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Overview Automobile theft is the most costly property crime in the U.S. In 1997, about 1.4 million vehicles were reported stolen despite the existence of many types of auto theft deterrent products. The value of the vehicles stolen was over $7 billion. Technology is finally catching up. CNXX's UNI-POINT™ technology is the basis for a terrestrial-based RF single-point, self-arming vehicle tracking system. It allows real-time determination of where the vehicle (or any other object equipped with the system) is located, to a precision of about 40 feet (about 10 meters). Tracking is done automatically -- the car owner may not even know their car has been stolen, but the police will know within seconds of the theft, will know exactly where the car is, & can follow its movement before it is stripped or loaded onto a ship. This patent-pending technology was developed in response to an overwhelming market demand for improved safety & security. CNXX expects to develop products that relate to wireless E911, personal safety & security, child monitoring, elderly care, fleet management, asset tracking, workplace safety, & others. Its Stolen Vehicle Recovery system is CNXX's initial product. The system offers an optional roadside & emergency notification service called Centraxx PLUS. If you have car, health, or other trouble, you can press an appropriate button on a visor-mounted device much like your garage door opener. Depending which of three buttons plus a "send" button you push, CNXX's monitoring staff will dispatch a tow truck, ambulance, or the police. LED lights confirm that your message has been received. UNI-POINT™ is cost effective, reliable, & expandable. I think it has tremendous potential. It is superior to existing technology in that it does not rely on GPS satellites or triangula-tion to work. History As of 5/25/99, Composite Design, Inc. acquired Centraxx Corp. of Mississauga, Ontario, & changed its name to Centraxx Inc. Centraxx Corp. is a wholly owned subsidiary of Centraxx Inc. It is completing the commercialization of its first product, which will be available to certain markets in Q1 2000. CNXX will begin deploying a planned North American network later this year, a process that will be accelerated through establishing joint ventures in select regional territories. |
Business/Products When you buy the Centraxx Vehicle Tracking & Recovery System, you get a small electronic "tag" device that you install in a hidden location in your car, as well as a specially encoded wireless electronic key that you carry on your key chain. It is virtually impossible to detect the tag's location & disable it. If anyone enters the car, the tag automatically "wakes up" & looks for the presence of your key. If you are the vehicle owner, it will find the key, & go back to "sleep." If it's someone else, it won't find the key. This means the car is involved in a theft. In that event, the tag immediately activates. It communicates an alert to the nearest base sensing station & the Centraxx Monitoring Center is notified, all in less than 30 seconds. This initiates autonomous, real-time tracking, allowing the police to respond quickly & recover the vehicle. The Centraxx system has no exposed antennas nor does it use GPS or GSM technology. The system works equally well in dense urban areas or heavily forested & mountainous areas. The transmitted signal can penetrate buildings or containers. Shipboard containers are where most professionally stolen cars end up -- usually on the way to some foreign destination. UNI-POINTTM can continuously pinpoint the location accurately within 10 meters, making it very reliable & quick -- before the vehicle has been dismantled. The same system works on costly assets like heavy construction equipment, industrial equipment, etc. Market The market for location technology is estimated to be $8.4 billion in the U.S. alone. Of the 140,000,000 consumer & 5.7 million fleet vehicles in the U.S., only 400,000 have vehicle tracking systems. At a cost of about $130, the Centraxx Vehicle Tracking & Recovery System is less expensive than other tracking systems, which range in price from $600 to $1,800. The fee for basic monitoring will be $4.95 per month, & only $10.95 per month for the full package including roadside & emergency notification service. This pricing will certainly appeal to a huge mass market of families & companies concerned with personal safety, property, & security. CNXX is negotiating with several prominent insurance companies to directly market the product to policy holders. Under the plan, the insurer will pay for the tag & monitoring service & will offer a free-of-charge package to owners of high-risk vehicles in order to lower theft claim costs. Policy holders with lower risk vehicles would be offered a discounted program through the insurer. Car dealerships, after-market auto supply stores, audio/alarm stores, cellphone stores, as well as mass marketers are potential outlets for the Centraxx system. Automobile clubs & healthcare providers have shown considerable interest. The Centraxx engineering group is hard at work reducing the size of the tag. It is expected to reduce to 1" x 1" x 2" by the year 2000 & to the size of a micro chip in 2001, creating the potential for many additional applications. Introduction of the system is scheduled for southern Ontario in early 2000, with expansion into southern CA in mid-2000 & south FL in late 2000. Additional territories will be added through joint ventures with local companies. Once well established in the vehicle recovery segment, additional applica-tions will follow. ...continued on next page, click here |
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