Printer Friendly
The Free Library
4,467,408 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Advanced ID Secures Letter of Intent for 8 Million Tags.


Business Editors

LAS VEGAS--(BUSINESS WIRE)--Oct. 30, 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 it has received a letter of intent from its Taiwanese distributor, LKIT Co., Ltd. for the purchase of up to 8 million RFID livestock tags.

Upon conclusion of formal testing of Advanced ID's RFID livestock tags and readers scheduled for the first quarter of 2004, LKIT has indicated its intent to commit to the purchase of up to 8 million RFID tags. LKIT, one of the largest suppliers of veterinary products in Taiwan, was awarded the exclusive distribution rights in Taiwan for Advanced ID's products in May 2003.

Dr. Cheng, Ching-Te, President of LKIT, visited Advanced ID in Calgary Alberta and inspected Advanced ID's ultra high frequency See UHF. tags and readers on February 26, 2003. At the request of Dr. Cheng, Advanced ID's directors met with Taiwanese government officials on May 27, 2003. As a result of these meetings, the province of Tainan, Taiwan has been designated as the official test site for trials to be conducted for the hog industry. In 1999, Taiwan had to destroy millions of hogs due to an outbreak of hoof and mouth disease which devastated their export industry. Taiwan has indicated its need to re-establish their export business and has identified that it must implement a livestock trace back system to comply with importing countries' rules and regulations. Dr. Cheng reported, "We looked at various methods of identification including visual tags, bar-code tags, low frequency RFID tags and stamping, and we could not find an adequate solution until we examined the ultra high frequency RFID tags of Advanced ID. We now have the technology to implement a trace back system for the Taiwan livestock industry."

Advanced ID President Barry Bennett stated, "We are looking forward to conducting our field tests in Taiwan and to presenting our technological advantages to the Taiwanese hog industry. Through our engineers and strategic partners in Germany and Hong Kong, we have developed an RFID solution that we believe will become the benchmark for livestock identification. In addition to providing our RFID solutions to the country of Taiwan, we are addressing inquiries from Argentina, Brazil, New Zealand, Canada, Australia and the United States."

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 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.advancedidcorp.com.

About LKIT Co., Ltd.

Loving Kindness International Technology Co., Ltd. (LKIT) is one of the largest suppliers of veterinary products in Taiwan, servicing the needs of the companion animal and livestock markets. LKIT has been the leader in RFID of companion animals in Taiwan. The company has focused on dogs and cats as mandated by the government of Taiwan. As one of the largest suppliers of veterinary products in Taiwan's animal industry, LKIT has identified a need for hog producers to implement RFID tags to establish a livestock trace back and identification system.

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.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 30, 2003
Words:659
Previous Article:ChipPAC To Present At The 2003 AeA Classic Financial Conference.
Next Article:Coverall Cleaning Concepts Ranked Among Franchise Times Magazine's Top 200 Franchise Chains; Commercial Cleaning Leader Receives Accolades in Overall...



Related Articles
Yet another factory outlet/discount mall is on way - this time to Carson. (L.A. Metromall)
Cush & Wake takes over TAG.(Cushman and Wakefield Inc., The Apartment Group)(Brief Article)
Preparing To Sell Your Business In Today s Marketplace.(strategies for managing mergers and acquisitions)
EnterNet Inc. Announces Letter of Intent to Purchase International IT and Data Security, Storage Company, Technology Alliance Group.
FAA to order 21 Airport Surface Detection Equipment systems from Sensis.
OAKS TO GAIN NORDSTROM?(Business)
$160-M mining contract awarded.(Around the North)
Activeworlds Signs Letter of Intent to Acquire Hi-G-Tek.
UO seeks $24.7 million to buy bakery site.(Higher Education)(The university signs a "letter of intent" with the owner of Williams' Bakery, but...
More army combat uniforms.(Connie's Post Scripts)

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles