Applied Digital Solutions Restructures Its Debt by Signing Third Amended and Restated Term Credit With IBM Credit Corporation.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--March 4, 2002 The Agreement becomes effective upon the closing of the proposed merger of Digital Angel Corporation with Medical Advisory Systems, Inc. Applied Digital Solutions, Inc. (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), an advanced technology development company, announced today that it has executed the Third Amended and Restated Term Credit Agreement (the "Agreement"), a three year formal restructuring agreement of its Credit Facility with its senior lender, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Credit Corporation ("IBMCC"). Upon the closing of the proposed merger of Digital Angel Corporation with Medical Advisory Systems, Inc. (AMEX AMEX See: American Stock Exchange :DOC), the Agreement will take effect. Commenting on the Restructuring Agreement, Richard J. Sullivan, 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. stated: "We are very pleased with the terms of the Restructuring as it clearly recognizes the value in the `new' Digital Angel Corporation. With Digital Angel as the first proof statement of our new business plan as an advanced technology development company, senior management is confident that VeriChip(TM), Thermo Life(TM) and other technologies will follow. We are now poised to once again deliver shareholder value." The Company will file a form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. disclosing the full terms of the Agreement. About Applied Digital Solutions, Inc. Applied Digital Solutions 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. 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. About Digital Angel(TM) Digital Angel represents the first-ever combination of 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 technology and Web-enabled wireless telecommunications linked Uplink For other uses, see Uplink (computer game) and . An uplink (UL or U/L) is the portion of a communications link used for the transmission of signals from an Earth terminal to a satellite or to an airborne platform. An uplink is the inverse of a downlink. to Global Positioning Systems 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 capabilities, Digital Angel will be able to monitor key body functions - such as temperature and pulse - and transmit that data, along with accurate location information, to a ground station or monitoring facility. Applied Digital Solutions is exploring a wide range of potential applications for Digital Angel, including: monitoring the location and medical condition of at-risk patients; locating lost or missing individuals; locating missing or stolen household pets; monitoring the location of certain parolees; managing livestock and other farm-related animals; pinpointing the location of valuable stolen property; managing the commodity supply chain; preventing the unauthorized use of firearms This is an extensive list of small arms — pistol, machine gun, grenade launcher, anti-tank rifle — that includes variants. : Top - 0–9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A
About Medical Advisory Systems Medical Advisory Systems, Inc. is a global leader in telemedicine that has operated a 24/7, physician-staffed call center in Owings, MD for nearly 20 years. Through a worldwide telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. , MAS provides health care to ships-at-sea and other remote locations, one-on-one "chats" with a physician via the Internet or telephone, as well as medical and non-medical services for the travel industry. MAS owns a 12% equity interest in Paris-based CORIS Group, which provides it with the ability to offer its services in over 30 countries worldwide. For additional information, visit www.mas1.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. The Company intends that such 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. 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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