Advanced ID Secures $2 Million to Accelerate Entry in Global Markets.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--Feb. 3, 2004 Advanced ID Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AIDO AIDO Associazione Italiana Donatori Organi (Organ Donors Italian Association) ), a pioneer in the radio frequency identification See RFID. (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ) market, today announced it has received $1 million in financing and has signed a term sheet for an additional $1 million from a private investment fund. J.P. Turner & Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control was an advisor for the investment. Proceeds from this financing will be utilized to accelerate Advanced ID's global commercialization of its RFID livestock technology designed to improve the speed and accuracy of tracing livestock to minimize or eliminate the impact of biosecurity and food safety issues. Todd Noble, Chief Financial Officer of Advanced ID Corporation, commented, "This financing provides us with the requisite capital to execute the commercialization of our RFID livestock products in an industry in which numerous countries have legislated mandatory livestock identification or have indicated their intent to do so. It remains our goal to be the global RFID livestock identification technology of choice." About J.P. Turner & Company, LLC J.P. Turner & Company, a member of NASD/SIPC, is a regional full-service investment banking, securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the , and brokerage firm with headquarters in Atlanta, GA and a network of more than 100 offices throughout the United States. J.P. Turner is considered one of the largest and fastest growing regional investment banking firms in the United States. About Advanced ID Corporation Advanced ID Corporation (AID), through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , is a pioneer in the radio frequency identification (RFID) market. RFID allows for the positive identification and tracking of animals or objects that have been tagged with a microchip. AID currently markets RFID microchips, scanners, and its proprietary PETtrac database to the companion animal and biological sciences markets. AID has recently developed an RFID technology solution to minimize or eliminate the impact of biosecurity and food safety issues related to the livestock industry. For more information, please visit the Company's website at www.advancedidcorp.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs and estimates as to projections 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. Advanced ID Corporation does not undertake to update, revise or correct any forward-looking statements. |
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