Applied Digital Solutions President Issues Statement Regarding the Nasdaq Trading Halt On ADSX.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--May 17, 2002 The President of Applied Digital Solutions, Inc. (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), Scott R. Silverman Silverman is the surname of:
abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. : "The Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. halted trading in ADSX this morning following a cable network's report last evening that the FDA had launched a formal investigation in the use of the Company's VeriChip A tamper-proof identification device from VeriChip Corporation (Division of Applied Digital Solutions), Delray Beach, FL (www.adsx.com) that is implanted under the skin of a person for medical or security purposes. product to access a medical database. Being unaware of any such investigation, I requested that our FDA consultants contact the FDA for clarification. As a result of that consultation earlier today, it is clear that VeriChip is not an FDA regulated device for security, identification and financial applications. The FDA has asked for additional information regarding the linking of the VeriChip verification number with a medical database. If the FDA requires additional information or approvals for the linking of VeriChip with a medical database, we obviously will abide by the FDA's requests and cooperate fully." About Applied Digital Solutions, Inc. Applied Digital Solutions (Nasdaq: ADSX) is an advanced technology development company that focuses on a range of early warning alert, 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. 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion