PENNSAUKEN, NJ — (Marketwired) — 11/17/14 — Lattice Incorporated (OTCQB: LTTC) (“Lattice” or the “Company”), a cloud-solutions provider of inmate management network systems for correction facilities, signed a new contract to install its Integrated Corrections Operating Network (“ICON”) platform at Osage County Jail, in Pawhuska, Oklahoma. Lattice now services approximately 50% of the addressable market in Oklahoma, with 35 facilities installed or under contract out of a total of 69 small and midsized correctional facilities.
This latest ICON installation at the 186-bed Osage County Jail includes the Company–s new kiosk system, and the installation is expected to be completed in December 2014.
“We continue to build further sales momentum for our industry-leading corrections management and communications platform,” stated Paul Burgess, CEO of Lattice, stated: “While the number of inmates we are servicing continues to rise, we–ve only scratched the surface on the potential $5 billion market opportunity for ICON. Each new installation represents further validation of the value that ICON represents to our clients and strengthens our recurring revenue streams, which we believe will lead to ongoing shareholder value improvement.”
ICON is an integrated communications system for correctional facilities, offering telephone calls, voicemail, video visitation, e-mail, text messaging, and social media. The platform also includes a facility management and accounting package that enables efficient management of all prison processes, including telephone calls, commissary purchases, point-of-sale kiosks, biometrics, booking, incident reporting, and more. ICON–s automated payment processing, billing, and accounting features reduce administrative overhead for corrections facilities. ICON is designed to improve efficiency and accountability for correctional facilities ranging from large multi-facility operators to small individual facilities.
Lattice Incorporated provides advanced information and communications technology solutions to corrections facilities globally. The Company–s innovative, cost-effective solutions leverage its proprietary Nexus platform, a real-time transaction processing engine, to develop and deliver customized cloud-based software applications with military-grade security for facilities that require highly secure solutions. For more information, visit .
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company–s financing plans; (ii) trends affecting the company–s financial condition or results of operations; (iii) the company–s growth strategy and operating strategy; and (iv) the risk factors disclosed in the Company–s periodic reports filed with the SEC. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company–s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk factors disclosed in the company–s Forms 10-Q previously filed with the SEC.
Contact:
Investor Relations
Jon Cunningham
RedChip Companies, Inc.
Tel: +1-800-733-2447, ext. 107
You must be logged in to post a comment Login