Applied DNA Sciences Names R.B.--ROB--Hutchison CEO; Hutchison Succeeds Larry Lee, Who Continues as Corporate Secretary and Chief Technology Strategist.Business Editors/Health/Medical Writers LOS ANGELES--(BUSINESS WIRE)--March 8, 2004 Applied DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. Sciences, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : APDN.OB), a provider of proprietary DNA-embedded security solutions that protect corporate and intellectual property from counterfeiting and fraud, today announced that R. B. (Rob) Hutchison has been named Chief Executive Officer of the company in addition to his current title of Chairman of the Board. He succeeds Larry Lee For the football player of the same name see Larry Lee (football player). Larry Lee was a long time friend of Jimi Hendrix and eventually joined Hendrix's new band Gypsy Sun and Rainbows as rhythm guitar player. , who continues with Applied DNA Sciences as Corporate Secretary, Chief Technology Strategist and a member of the Board of Directors. Hutchison, 47, has been Chairman of the Board since January and a director since November 2003. He is a pioneer in the field of Information Technology and has more than 25 years of experience in this field. In the position of Chief Technology Strategist, Lee, who is a founder of Applied DNA Sciences, will be responsible for technical direction, product operations, and new product development. Hutchinson said, "Applied DNA Sciences' potential to establish a universal DNA security tagging system is vast and exciting. Larry Lee and his team have done a great job of leading the company thus far and I am enthusiastic about the opportunity to move it forward. Larry and I will continue to work together except now he will focus his efforts on our product, science and technology strategies." Most recently, Hutchison joined the Board of Directors of PowerHouse Technologies Group, Inc., a mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings solutions company. He is the founder of several companies, including eCharge Corp., Seattle, WA, specialists in alternative payment methods for the Internet. Hutchison served as eCharge's president and chief technical officer. Hutchison is the co-creator of a patent (pending) technology using unique digital certificate technology that enabled eCharge to provide secure Internet commerce transactions. As co-founder of eCharge, Hutchison was president of Canada-based SNI (1) (Subscriber Network Interface) The point of interface between the customer's equipment (CPE) and a communications service from a common carrier. (2) (SNA Network I Corporation, specialists in the integration of SUN Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. UNIX-based systems and Internet computer See Internet appliance and network computer. firewall security. Hutchison also served as the western regional director of sales and operations for Everex Canada Inc., and as vice president and co-founder of Vivox International Inc. Prior to becoming CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Applied DNA Sciences, Lee worked on cutting-edge technology at several Fortune 100 companies. He led new initiative divisions where he mastered entrepreneurial skills by spearheading a variety of new business ventures. About Applied DNA Technology Applied DNA Sciences, Inc. provides proprietary DNA-embedded biotechnology security solutions, using non-human DNA, that verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized access. Applied DNA Sciences has an exclusive licensing and partnership agreement covering North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South America, Europe and the Middle East with Biowell Technology, Inc. (http://www.biowell.com.tw/eng) of Taiwan. The company develops markets, and sub-licenses DNA security systems, supply-chain management systems and anti-counterfeit solutions. Applied DNA Sciences' technology addresses the more than $350 billion of counterfeit products sold each year as well as the multi-billion dollar homeland security market. The company is headquartered at 9229 West Sunset Boulevard Los Angeles, CA 90069; Tel: 310.860.1362; Fax: 310.860.1303 or visit www.ADNAS.com. The statements made by Applied DNA Sciences, Inc. (the Company) may be forward-looking in nature and are made pursuant to the 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. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements describe the Company's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA Sciences, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events. |
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