AG-NAV was founded in 2000 after a management buyout of Picodas Group Inc. occurred. Picodas was a Geophysical Equipment manufacturer founded in 1985 for the purpose of developing GPS based equipment used in airborne applications for Mineral and Petroleum Exploration. In 1989, World Geoscience Pty. Ltd., the single largest airborne survey company in the World, acquired Picodas. The Picodas addition was used to develop and build instrumentation for their growing aircraft survey fleet. During this historical period of time, Picodas diversified into several related fields. These included Navigation, Agriculture, Forestry, and Environmental applications associated with the use of GPS technology. When management completed the buyout of Picodas from World Geoscience, a decision was made to concentrate the New Company's efforts in navigation and related products and to remove the Company from Geophysics. The decision to sell this product area was supported by the Geophysical market segment going through a down turn and consolidation period as well as sales in that market segment declining. The name Picodas and the related geophysical assets were sold and AG-NAV emerged as a leading supplier of navigational type equipment used in GPS applications.

AG-NAV has been strengthened by the exposure to its history and with the continuing development of GPS technology related products. The staff has been maintained and is developing new products and applications. The group's expertise in GPS technology and equipment development for airborne applications is one of the strongest in the industry. The company maintains a strong reputation in Customer Support and Service as well as product feature superiority.

The groups primary market segment is currently associated with Agriculture and the use of GPS technology in this area. Developed products include equipment used for accurate orientation and precision placement of sprayed fertilizers and pesticides from aircraft. This area of support has expanded to other applications like developing accurate flow control equipment for the deployment of liquids and dry products used in this industry.

Another area of development that the group has been involved with is baiting, counting, and tracking of animals on the ground. These programs have historically been handled by using ground resources and very primitive approaches that are costly and time consuming to the government organizations that use this kind of tracking. The AG-NAV product employs a "MOVING MAP" display and precisely handles the information as well as recording the real time locations of animals and the bait. Downloaded information can then be used for management purposes and history.

New areas of development are constantly being evaluated and tested. Applications continue to show up for the use of GPS technology in precision location and movement information. One of these areas is Forest Management and Harvesting. Recording old growth trees and harvest locations for accurate cutting is just one example.

The Company is committed to the development of products that use GPS technology and navigation to improve information and the efficiency of its collection. As applications grow in the market, the company will hold its position and high quality image by maintaining excellent customer support and developing very high reliability equipment used in this field. The future looks bright for the on-going development and expanding applications of GPS technology and the numerous ways this technology is used. The history of AG-NAV and its dedication to customer support and service will always be a main ingredient in our success and growth. The use of GPS technology by AG-NAV will cause the company to expand into other market segments and other application areas.