$5 Million for Parking Technology Developed in Africa

Aug. 24, 2011 - PRLog -- During a recent business meeting in Lagos (Nigeria), a US based parking payment solutions company name undisclosed with a 5-man delegates headed by Mr D.C Archer witnessed the live presentation and 2nd phase testing of "parkbycodedcard."

The full presentation of "parkbycoded" was presented by V-Park IT Specialist Mr D.N Handapangoda who explained in details how it works with step-by-step live demo via equipment testing on the web which captured the interest of the whole delegates and other local participant during the meeting.

Speaking after the 30 minutes video presentation, Mr Archer stated "I am amazed at the level of thought and resources that have gone into the development of this unique technology and the fact that such will be coming out of Africa by Africans for the first-time in history as recognized by the industry."

He added that he was marvelled at the invention and how simple, flexible and cost-effective it is to adopt. He recognized that the invention will go a-long way in comparison to alternatives in the market due to the simplicity of its modular operandi.  He stressed that checking V-Park website alone does not give the full confidential code to the schematic of this powerful technology. He encouraged overseas Companies/Authorities in need of a very cost-effective parking solution to propose to attend same presentation in near future in other to fully understand the benefits of buying-into this unique technology.

Mr Archer furthermore stressed that as global economy is going through economic hardship, most especially Municipalities/Councils across US and Europe due to cuts, the onerous is on the authorities to find alternatives parking solutions that does not break the bank without compromising on value-added benefits which are all-in-one inclusive with the new technology - "parkbycodedcard".

Mr Archer concluded by proposing to buy V-Park Technology - "parkbycodedcard" for $5 million with exclusivity condition in place.

The CEO of V-Park, Mr W.A Seriki first thanked the delegates for attending the "parkbycodedcard" presentation. He noted that some critics have downgraded the parking software as it was developed in Africa by Africans but added that not only is the technology unique and transparent, in that there is no alternative in the industry as at today that can measure-up in terms of set up cost which is very minimal, its transparency and adaptability in any given location/scenario.

Mr Seriki added that it was a calculated intent no to reveal the whole operandi of the new technology prior to the live presentation as the company does not want the whole invention to be hijacked or copied by the "outsiders”. In-addition, he mentioned that plans are underway by the V-Park management team to attend next year IPI Conference in Pittsburgh (USA) and other similar conferences to further create global awareness.

In response to the monetary offer for the software, Mr Seriki declined the offer by saying,  “Our technology is new, very unique and second-to-none. Its profit projection for 5 years alone is more than the offering price to say the least and the lifespan of the technology is unlimited and come with much-more benefits to end users which is priceless."

Mr Seriki also stated that there is no immediate intention to rush and sell the technology to overseas companies as the primary aim of the company is to use the technology in Nigeria and other neighbouring African countries within the next 12 months and hopefully when its well preserved by the international market, then adequate process in-form license agreement(s) with well-established parking companies in various continent of the world will be put in place.

He concluded that the final one-month testing phase of "parkbycodedcard" is schedule for September and that effort has been geared up for the official launching of the parking software in October 2011.