All amounts are in Canadian dollars.
The deferred payments are secured by the assets of Teleride. The Company reports that the Highways Division has been profitable in twelve of the last fourteen quarters. IRD specializes in developing and delivering software and hardware systems for truck weigh stations, toll roads, traffic data collection and freeway management. In the United States, the recent passing of a new Highways Bill has paved the way for transportation agencies throughout the country to execute their ITS strategies. IRD has also been successful in penetrating the ITS markets in South America, Europe and the Middle East.