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CODA OCTOPUS RELEASES ITS NEW REAL TIME 3D UNDERWATER CONSTRUCTION SOFTWARE


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-06-13 15:44:03 -

Company Contact:   Geoff Turner,

                    Director and Group Officer   info@codaoctopusgroup.com




                            Coda Octopus Group Inc.


CODA OCTOPUS RELEASES ITS NEW REAL TIME 3D UNDERWATER CONSTRUCTION SOFTWARE

Lakeland,  Fl. June 13(th) 2013) - Coda Octopus  Group, Inc. (OTC: CDOC.PK), are
pleased  to announce the release by Coda  Octopus Products Limited of the latest
version  of  its  unique  underwater  Construction  Monitoring  System  software
(CMS(TM)).

CMS(TM)  is designed 
for monitoring the placement of concrete armour units in breakwater construction projects and makes full use of the unique capabilities of our real time Echoscope® 3D sonar to give crane and excavator operators a clear view of concrete blocks as they are placed. Originally designed to automatically track ACCROPODE(TM) concrete armour units, CMS(TM) was originally deployed on the Ras Laffan breakwater project in Qatar by RLNBC, a joint venture between Van Oord NV and Royal Boskalis Westminster NV and since then the technology has been successfully used on numerous breakwater projects around the world. The latest version of CMS(TM) has an improved tracking algorithm that gives better results with more challenging environments, and it has been expanded to work with ACCROPODE(TM) II units and also Xbloc® units.  Moreover, it has been enhanced with new key capabilities to make placement tasks easier, including functions such as automatic mosaicing tools, profile views, chain removal capabilities and ability to interactively build and edit databases of already placed blocks. CMS(TM) is a significant tool for companies building coastal structures such as breakwaters where the accurate placement of concrete armour units underwater is important to the effectiveness and longevity of the structures. Coda Octopus Sales Manager, Gareth Simpson, said "this new version of the software offers a real step change in the usability of the system by widening the range of block types that it can be used with, and the tracking is really reliable even in difficult conditions, thus giving customers significant time savings and reduction in down time in their operations." About Coda Octopus Group, Inc. Originally founded in 1994 as Coda Technologies, the Coda Octopus Group is now headquartered in Lakeland, Florida.  The Group consists of a Marine Products business in Florida and Edinburgh, Scotland, and engineering businesses in Utah and Weymouth, England. Each of the Group companies are technology innovators with a particularly high level of sonar expertise. The Group has facilities in Florida, Utah, the UK and Norway. Alongside providing custom engineering and development for defense applications, and oil and gas, companies, one of the Group's key products is the Coda Echoscope(®) - the first real time 3D sub-sea sonar. The Echoscope(®) is also at the heart of the Underwater Inspection System(TM) which is being adopted for homeland security, and other applications in ports around the world. With this patented revolutionizing sub-sea visualization capability, and the existing systems integration skills within Colmek Systems Engineering, Inc. and Martech Systems Engineering Ltd., the Coda Octopus Group believes they can become a world leading integrated sonar technology supplier. For further information, please visit www.codaoctopusgroup.com or contact Coda Octopus at info@codaoctopusgroup.com. Safe Harbor Statement: This press release contains certain forward-looking statements. These forward- looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements.  Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers.  These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Coda Octopus Group, Inc. via Thomson Reuters ONE [HUG#1709326]


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