Applied Digital Solutions Responds to Nasdaq Request for Information.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--April 22, 2002 Applied Digital Solutions, Inc. (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), an advanced technology development company, announced today that it has provided additional information to NASDAQ following a request on various technical issues, including details surrounding an April 17, 2002 contract announcement issued by Digital Angel Corporation (AMEX AMEX See: American Stock Exchange : DOC). Applied Digital 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 19.6 million shares of Digital Angel Corporation. Digital Angel's announcement disclosed that it had signed a ten-year agreement with Brazil's livestock export certification agency, Embrapa, and the Brazilian Ministry of Agriculture to develop a national food safety-tracing program for livestock. The following are details regarding Digital Angel Corporation's contract in Brazil: 1) The product and systems being provided at this time are related to Digital Angel's identification microchips, compatible scanners and consulting related to databases. In the future the products may include Digital Angel's tracking system. This contract does not use any products of Applied Digital Solutions. 2) Embrapa will buy products for the animals it has control of exclusively from Digital Angel. 3) Embrapa will recommend Digital Angel's electronic identification products for all animals as part of Brazil's proposed export requirements. 4) The actual quantity and timing of product sold is not defined as it is impossible to know what the long-term requirements will be. 5) Digital Angel will sell products to Embrapa for animals that Embrapa controls. Digital Angel may sell product through other distributors for animals in Brazil that Embrapa does not own or have direct control of. For animals it does not own or control Digital Angel will pay a royalty to Embrapa for product jointly developed. 6) Digital Angel management believes that the first purchase orders as a result of this contract will be issued in the next 30 to 45 days. Embrapa will pay for the goods upon delivery. At this time, Digital Angel does not know the size of this initial order and Embrapa is not required to purchase product. 7) Digital Angel has been working with Embrapa for more than 2 years during which time Embrapa has evaluated other competitors. 8) If Digital Angel sells product jointly developed outside of Brazil, Digital Angel has agreed to pay a royalty to Embrapa. 9) There is a risk that the laws or export rules could change over the life of the agreement as food safety compliance is a new and developing field. 10) Digital Angel and Embrapa are contemplating other research for additional products being jointly developed. Applied Digital expects trading to resume on Tuesday. About Digital Angel Corporation Digital Angel Corporation was formed on March 27, 2002, in a merger between Digital Angel Corporation and Medical Advisory Systems, a global leader in telemedicine that has operated a 24/7, physician-staffed call center in Owings, Maryland Owings is a census-designated place (CDP) in Calvert County, Maryland, United States. The population was 1,325 at the 2000 census. Geography Owings is located at (38.711919, -76.603901)GR1. , for two decades. Prior to the merger, Digital Angel Corporation was 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 Solutions. Digital Angel(TM) technology represents the first-ever combination of advanced biosensors and Web-enabled wireless telecommunications linked to the Global Positioning System Global Positioning System: see navigation satellite. Global Positioning System (GPS) Precise satellite-based navigation and location system originally developed for U.S. military use. (GPS). By utilizing advanced biosensor A device that detects and analyzes body movement, temperature or fluids and turns it into an electronic signal. See lab on a chip and data glove. Biosensor capabilities, Digital Angel will be able to monitor key body functions - such as temperature and pulse - and transmit that data, along with accurate emergency location information, to a ground station or monitoring facility. For more information about Digital Angel, visit www.digitalangel.net. About VeriChip(TM) VeriChip, first announced on December 19, 2001, is a miniaturized, implantable, radio frequency identification See RFID. device (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. ) that can be used in a variety of security, emergency and healthcare applications. On April 4, 2002, the company announced that it had received written guidance that 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. ) does not consider VeriChip's personal verification device to be a regulated medical device, enabling the company to begin sales, marketing and distribution of VeriChip 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. . About the size of a grain of rice, each VeriChip is composed of FDA-accepted materials and contains a unique verification number. That number is captured by briefly passing a proprietary, external scanner over the VeriChip. A small amount of radio frequency energy passes through the skin energizing energizing, adj giving energy to; revitalizing; rejuvenating. the dormant VeriChip, which then emits a radio frequency signal transmitting the verification number. VeriChip Corporation VeriChip Corporation, a wholly owned subsidiary of Applied Digital (Nasdaq: ADSX), markets a line of Radio Frequency Identification (RFID) Devices (including VeriChip) used in security, financial, emergency identification, and other applications. is a wholly owned subsidiary of Applied Digital Solutions. About Applied Digital Solutions, Inc. Applied Digital Solutions (Nasdaq: ADSX) 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. 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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