Applications Continue to Grow for Applied Digital Solutions' VeriPay; Baja Beach Club in Barcelona, Spain Employs RFID Technology for Cashless Payment System.Business Editors/High-Tech Writers PALM BEACH, Fla--(BUSINESS WIRE)--April 5, 2004 Applied Digital Solutions, Inc. (Nasdaq: ADSXD), an advanced technology development company, today announced that Baja Beach Clubs The Baja Beach Club is an exclusive nightclub in Barcelona, Spain. The club entered the news in 2004 when it began offering to implant VeriChips into it's VIP customers for identification purposes. The club was criticised for making the implanted chips difficult to remove. International had employed the VeriPay System, developed by Applied Digital's VeriChip Corporation VeriChip Corporation, a wholly owned subsidiary of Applied Digital (Nasdaq: ADSX), markets a line of Radio Frequency Identification (RFID) Devices (including VeriChip) used in security, financial, emergency identification, and other applications. , at a night club in Spain. Launched at a global security conference in November, 2003, the VeriPay System is a new syringe-injectable microchip (1) Another term for a microminiaturized integrated circuit (a "chip"). (2) To insert an RFID tag beneath the skin of an animal. It is expected that some day, humans will be microchipped. implant implant /im·plant/ (im-plant´) to insert or to graft (tissue, or inert or radioactive material) into intact tissues or a body cavity. for humans, designed to be used as a fraud-proof payment method for cash and credit-card transactions. The chip implant is an advance over credit cards and smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. , which, absent biometrics The biological identification of a person. Examples are face, iris and retinal patterns, hand geometry and voice. Increasingly built into laptop computers, fingerprint readers have become popular as a secure method for identification. and appropriate safeguard technologies, are subject to theft, resulting in identity fraud. "We are the only company today offering human implantable ID technology," said Scott R. Silverman, Chairman and Chief Executive Officer of Applied Digital Solutions. "We believe the market opportunity for this technology is substantial, and high-profile successes such as in Spain will serve as catalysts for broader adoption." "The VeriPay chipping event was a huge success," said Conrad K. Chase, Director of the Baja Beach Clubs International. "Everyone embraced the electronic payment application. My customers like the fact that they do not have to carry a credit card or ID card with them. With the VeriPay system, they no longer have to worry about their credit cards getting lost or stolen." About Applied Digital Solutions, Inc. Applied Digital Solutions is an advanced technology development company that focuses on a range of early warning alert, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Wireless unit, the Company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. For more information, visit the company's website at http://www.adsx.com. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion