Applied Digital Presents at U.S. Department of Commerce Workshop on Radio Frequency Identification -RFID-; Chairman and CEO Scott R. Silverman Tapped to Present Industry Perspective on RFID Hardware.WASHINGTON -- Applied Digital (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), a provider of security through innovation (TM), announced today that its 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. , Scott R. Silverman participated in yesterday's "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. in 2005: Technology and Industry Perspectives" workshop at the invitation of the U.S. Department of Commerce. As part of the "Industry Perspectives - RFID Hardware" panel, Mr. Silverman gave a presentation on VeriChip, the world's first subdermal sub·der·mal adj. Located or placed beneath the skin; subcutaneous. RFID microtransponder that can be used in a variety of medical, security, and financial identification purposes and was recently cleared by 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. ) VeriChip for medical applications in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . In his opening remarks, Mr. Silverman re-affirmed Applied Digital's strong support of the Administration's initiative to promote Information Technology (IT) in healthcare, but pointed out that access to that information, such as electronic medical records is crucial. "How do you access the information in that electronic medical record in an emergency situation without human-based data input? Our answer is VeriChip....VeriChip can be used as the gateway or portal to electronic medical records." Mr. Silverman also highlighted the recent acceptance of the VeriChip technology by two prestigious hospitals - Beth Israel Deaconess Medical Center Both an international and regional referral center, Beth Israel Deaconess Medical Center (BIDMC) in Boston, Massachusetts is a major teaching hospital of Harvard Medical School. It was formed out of the 1996 merger of Beth Israel Hospital (founded in 1916) and (Boston, MA) and Hackensack University Medical Center Hackensack University Medical Center (HUMC) is a 781-bed non-profit, research and teaching hospital located just seven miles west of New York City, in Hackensack, New Jersey, providing tertiary and healthcare needs for northern New Jersey and the New York metropolitan area. (Hackensack, NJ). In addition to discussion of the capabilities of the VeriChip product, Mr. Silverman devoted the majority of his presentation to the company's devotion to privacy, and the protocols Applied Digital has developed in regards to privacy, including the appointment of a Chief Privacy Officer, and the adoption of a comprehensive privacy policy. "We look at ourselves as leaders in the RFID industry. Therefore, we are strong pro-active privacy participants, we want to be and we have to be," said Silverman. "We urge the industry to address these (privacy) issues head on and we look to be an active participant." 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 subdermal RFID 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) 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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