Coda Octopus Opens New Office in Florida to Accommodate
Planned US Sales Team Expansion
New York, NY May 5th, 2006 – Coda Octopus Group, Inc (Pink Sheets: CDOC), a
world leader in 3D subsea technology with key applications in port security
and defense, today announced that it has opened a new sales and marketing
office in St. Petersburg, Florida, which became operational on May 1st 2006.
Jason Reid, CEO, commented, “The new space is an addition to the Company’s
nearby existing office and will enable us to expand our US sales operations,
which are already run out of Florida. Within a short period of time, we
expect to have up to six staff working from this facility. The opening of
this office reflects the Company’s commitment to the region which is
becoming an increasingly important one in the marine industry; it will also
help us to build on our already close association with the University of
South Florida, which is a key player in the industry.”
About Coda Octopus
Founded in 1994 as Coda Technologies, Coda Octopus is recognized
internationally as a leading developer of underwater technologies for
imaging, mapping, defense and survey applications. Based in New York, with
R&D, manufacturing, and sales facilities in the UK, Norway, and Florida its
key products include Octopus precision motion sensors, Coda and Octopus
marine software and systems, Octopus thermal printers and the unique Coda
Echoscope - the first real-time 3D subsea sonar - with particular
applications in the homeland security and construction markets. With this
patented new product, which revolutionizes subsea visualization, Coda
Octopus believes it is well on its way to becoming the world’s leading sonar
technology company.
For further information, please visit
http://www.codaoctopus.com or contact Coda Octopus at
info@codaoctopus.com
Contact
Press (North America) - Ken Donenfeld, DGI Investor Relations, Inc
kdonenfeld@dgiir.com, tel +1 212 425 5700
Investor Relations - Ira Weingarten, Equity Communications, LLC
Ira@equitycommunication.com,
tel +1 805 897 1880
Safe Harbor Statement: Except for historical information,
the matters set forth herein, which are forward-looking statements, involve
certain risks and uncertainties that could cause actual results to differ.
Potential risks and uncertainties include, but are not limited to, market
acceptance of Coda Octopus’ planned products and their level of sales, the
competitive environment and successful technical and economic
implementation.
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