Advanced ID Corporation to Receive US$350,000 in Equity and Manufacturing Investment From Strategic Partner Guide-Trend Technology.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--May 14, 2003 Advanced ID Corporation, (OTCBB:AIDO AIDO - Associazione Italiana Donatori Organi (Organ Donors Italian Association)), a pioneer in the radio frequency identification (RFID) market, today announced that its manufacturing strategic partner, Guide-Trend Technology Company, Ltd., has completed testing of its manufacturing process for large-scale production of Advanced ID's RFID tags. Given the very positive results of beta-testing, Guide-Trend has confirmed its upcoming US$350,000 investment into Advanced ID and its RFID products. The investment includes a direct equity purchase from Advanced ID, making Guide-Trend a strategic shareholder as well as a manufacturing partner. The balance of the investment is for tooling and equipment in preparation for large-scale manufacture of Advanced ID's RFID products in Guide-Trend's manufacturing facilities. C.K. Li, President and CEO of Guide-Trend, commented on the milestone event in its partnership with Advanced ID, "This Advanced ID technology that we have successfully beta tested is one of the most exciting products in the RFID business. It is very complimentary to the current business activity of Guide-Trend. All facets of the manufacturing process have been coordinated through Advanced ID's engineering department and the final products will be shipped to Advanced ID's beta test sites this month." "We are pleased that Guide-Trend believes so strongly in our technology and markets that they have invested in our stock to became a significant shareholder. Beyond their equity investment, they have shown great confidence in our joint-venture by investing their own monies to prepare manufacturing facilities for large-scale production," stated Mr. Barry I. Bennett, President and CEO of Advanced ID. "Additionally, the market has already responded very positively to our technology. We have received numerous inquires, regarding distribution of our products, from major distributors around the globe." Advanced ID is now accepting and evaluating applications from various distribution partners. Initial distribution markets may include: New Zealand; Australia; Taiwan; China; Thailand; Malaysia; Argentina; Peru; Uruguay; United States; and Canada. Distributors will be required to undergo a formal training process for hardware, software, and systems integration, at Advanced ID's headquarters. The Company will only approve of, and grant distribution rights to distributors after a rigorous review has been conducted and the distributor's ability to manage large-scale demand and provide extensive customer support has been confirmed. Advanced ID had formerly announced, on April 24, 2003, that it had signed a manufacturing Strategic Partnership with China-based Guide-Trend Technology Company, Ltd. In the announcement, the Company stated that Guide-Trend will mass-produce the plastics encapsulation component of Advanced ID's RFID chips. Guide-Trend is a manufacturer of plastics for computers and electronics products. Its injection blow molding facility is one of the largest in Asia and has a complete tooling capability including 37 injection molding machines with over 4,800 tons of capacity. Guide-Trend has 600 employees that work in a 100,000 square foot facility that is ISO and UL certified. Its customers include global industrial leaders such as Siemens, Phillips, Minolta, Marantz, Denon, Daewoo, B&O, and Bose. About Advanced ID Corporation Advanced ID Corporation, through its wholly owned Subsidiary, is a pioneer in the radio frequency identification (RFID) market. RFID allows for the positive identification and location tracking of animals or objects that have been identified with a tiny microchip. The Company currently markets RFID microchips, scanners, and its proprietary PETtrac database to the companion animal market, as well as for tracking of animals in the wild, including endangered species. Through organic growth and acquisition, Advanced ID Corporation is positioned to enter and considerably impact several significant new markets. For more information please visit the Company's website at www.advancedid.ca. Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements. |
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