Applied Digital Solutions' CEO Issues Invitation to Shareholders.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 Solutions (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) ), an advanced technology company, issued the following Invitation to Shareholders today: Dear Shareholders: Applied Digital has changed dramatically in the past year. We have satisfied all of our (parent company) debt; we have strengthened our balance sheet by over $100 million; we have severely cut operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. and we have fixed our capital structure. These are very significant accomplishments, but the biggest accomplishment - LONG TERM SHAREHOLDER VALUE - is our greatest challenge - and our main focus at Applied Digital. When I took over as the Company's 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. in March of last year, I looked at the opportunity in a similar fashion to the way that a new football coach does when he takes over a team. Building a talented team, preparing the players properly, and winning are all important, but creating a successful, long term Champion is the ultimate goal. With almost 1-1/2 years and the above-referenced milestones behind us, my focus now turns squarely square·ly adv. 1. Mathematics At right angles: sawed the beam squarely. 2. In a square shape. 3. to developing and redefining the company to create long-term success, and as a result, sustained shareholder value. A review of our current product lines and intellectual property yields two significant (yet greatly unrecognized) trends: 1) A significant portion of our revenue is from governmental entities (U.S. and International); and 2) Security for people, animals, food chains, telecomm infrastructure and government and commercial assets is the lion's share of our business. This is where our future lies. Please join me for a closer look at our Company, and the unveiling of our streamlined business model and new corporate image on Saturday, July 24, 2004 at 9:00 a.m. at the Delray Beach Marriott for our Annual Shareholder meeting. I look forward to seeing you there. Sincerely, Scott R. Silverman Chairman and CEO About Applied Digital Solutions, Inc. Applied Digital Solutions is an advanced technology development company that focuses on a range of life-enhancing, personal safeguard technologies, early warning alert systems, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Technology Group, 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. Applied Digital Solutions is the beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of a majority position in Digital Angel Corporation (AMEX AMEX See: American Stock Exchange : DOC - News). 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. |
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