310 Holdings Inc. Celebrates Completion of Newest Generation of Tape Reading Technology
NIAGARA FALLS, Ontario, July 8, 2009 (GLOBE NEWSWIRE) -- Staff at 310 Holdings Inc. (OTCBB: TRTN) celebrated the completion of the Company's latest generation of its proprietary, highly effective magnetic media reading technology last night.
John Bordynuik, 310 Holdings Inc. President and CEO said, "We are very excited about the success of our latest tape reading technology, which includes our own custom designed amplifiers, bit detection, de-skewing algorithms, and tape drive control, and use of the latest thin-film head technology. This technology instantly scales from the oldest tape drives to current models, so we can quickly retrofit the latest LTO and DLT drives to recover and migrate data exceptionally quickly and accurately for our clients."
This celebration comes after 310 Holdings Inc. President and CEO John Bordynuik and his staff of engineers had been working around the clock for the last several weeks to complete this project. This technology replaces our previous generation; it completely eliminates the need for us to do all post reading processing of the data. As a result, the raw data is now immediately usable by our Swahili data migration engine and many virtual emulators.
This technology scales from one head to hundreds of heads by increasing the number of parallel bit-detection processors in hardware. It is presently scalable in Altera's high-end Stratix-II, III, and IV "Cray-on-a-chip" FPGAs.
"Our new bit detection technology significantly exceeds the data recovery rate of current enhanced PRML technologies. Our technology can be applied to hard drives, and we plan to explore implementation in that market," said Mr. Bordynuik. "I would like to emphasize that this bit technology is so effective that we do not require and do not use post error-correcting algorithms or routines. We are using this technology in place of original equipment hardware which is unable to accurately detect bits after the media have been shelved for a few years."
This bit detection technology can accurately detect weak bits down to 10 per cent of the signal's original amplitude.
This replaces our original technology which required some post reading.
310 Holdings Inc. will file a patent application to protect this technology.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 23, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company.
On June 25, 2009, 310 Holdings Inc. announced a definitive agreement to acquire certain assets of John Bordynuik Inc., including all of its intellectual property, its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base subject to certain closing conditions and adjustments. Provided all conditions to closing are met, 310 Holdings Inc. anticipates closing this Asset Purchase Agreement on or about July 15, 2009.
For more information, please see http://www.310holdings.com and http://www.johnbordynuik.com.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of 310 Holdings Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: 310 Holdings Inc.
John Bordynuik, President and CEO
Katie Matkowski - Investor Relations
+1 (289) 296-5538