Applied Digital's VeriChip Corporation Signs Three Distributors for Asian Territories; New Distributors Selected for Thailand/Indonesia, Malaysia, and South Korea.DELRAY BEACH Delray Beach, resort city (1990 pop. 47,181), Palm Beach co., SE Fla., on the Atlantic coast; settled 1895, inc. 1911. Mostly residential, Delray Beach is also the trade center for a citrus-fruit and vegetable-growing region. , Fla. -- Applied Digital (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), a provider of Security Through Innovation(TM), announced today that 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. , VeriChip Corporation, has awarded the exclusive rights to distribute VeriChip in Thailand/Indonesia, Malaysia and South Korea. In order to maintain exclusivity, each distributor must purchase a minimum number of VeriChips and scanners during a three-year period. Collectively, these purchases would total a minimum of 65,825 VeriChips and 4,687 scanners. Each distributor plans to sell and market VeriChip for security-related, medical and emergency identification applications. VeriChip Corporation awarded Inforlexus (www.Inforlexus.com.my) the exclusive distribution rights to Thailand/ Indonesia. The company also awarded exclusive distributorship rights for Malaysia to Universal Microchip (www.universalmicrochip.com). The company has awarded the exclusive distributor rights for South Korea to SI&I Co., Ltd. (www.siikorea.com). In 2002, the company had awarded the exclusive distributorship to another entity in the country that failed to meet its minimum purchase requirement and was therefore terminated. About VeriChip: VeriChip Corporation is a wholly owned subsidiary of Applied Digital. The VeriChip product is a subdermal sub·der·mal adj. Located or placed beneath the skin; subcutaneous. 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. microtransponder that can be used in a variety of security, financial, emergency identification and healthcare applications. About the size of a grain of rice, each VeriChip device contains a unique verification number that is captured by briefly passing a proprietary scanner over the VeriChip. In October 2004, the U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) cleared VeriChip for medical applications in the United States. VeriChip is not an FDA-regulated device with regard to its security, financial, personal identification/safety applications. About Applied Digital Applied Digital develops innovative security products for consumer, commercial, and government sectors worldwide. Our unique and often proprietary products provide security for people, animals, the food supply, government/military arena, and commercial assets. Included in this diversified product line are RFID applications, end-to-end food safety systems, GPS/Satellite communications, and telecomm and security infrastructure, positioning Applied Digital as the leader of Security Through Innovation. Applied Digital is the owner of a majority position in Digital Angel Corporation (AMEX AMEX See: American Stock Exchange : DOC). 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" 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. |
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