Applied Digital's VeriChip Selected for Prestigious Technology Award in Italy; Well-Tech Award Recognizes Innovative Technologies Improving Quality of Life.DELRAY BEACH, 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 it has been awarded the 2005 Well-Tech Award, recognizing VeriChip(TM) for its role in improving the quality of life. The Award, given annually by Italian-based Well-Tech, goes to the invention that scores the highest in three categories, including eco-friendliness, accessibility, and quality of life. A panel, including leading Italian educators, government representatives and business executives, selects the winner. Well-Tech is a development team founded in 1999 by the architect Chiara Cantono. "We are honored to receive this recognition from such a prestigious Italian organization," said Scott R. Silverman, Applied Digital's Chairman and 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. . "Since April, we have been working on a clinical study in Italy utilizing the VeriChip healthcare application at the Instituto Nazionale Lazzaro Spallanzani Hospital in Rome. The recognition from Well-Tech for the potential of the VeriChip highlights the opportunities that the device has to enhance the practice of healthcare." The Italian study is designed to observe the VeriChip technology function during care provided to patients whose medical conditions impede conveying vital information to the hospital's medical staff. Patients have the opportunity to utilize the VeriChip technology to provide their personal identification information and recent medical history. It is anticipated that the study will be completed shortly, at which time the findings will be presented to the Italian Ministry of Health. The Well-Tech award is given annually to an innovative technology product, with particular attention to its environmental and functional aspects and its potential to improve the quality of life. Selection criteria include reduction in energy consumption, use of materials and renewable energy sources, ease of use for elderly persons, product safety, design and ease of understanding of the product, appropriate application of manufacturing and materials technology, as well as the qualitative, functional, and aesthetic aspects. Further information about Well-Tech is available at www.well-tech.it. About VeriChip VeriChip Corporation is a 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. of Applied Digital. The VeriChip product is a sub dermal dermal /der·mal/ (der´mal) pertaining to the dermis or to the skin. der·mal or der·mic adj. Of or relating to the skin or dermis. 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. micro transponder A receiver/transmitter on a communications satellite. It receives a microwave signal from earth (uplink), amplifies it and retransmits it back to earth at a different frequency (downlink). A satellite has several transponders. 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 and is MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. compatible. About Applied Digital: Applied Digital develops innovative security products for consumer, commercial, and government sectors worldwide. The Company's 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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