Applied Digital Solutions Will Begin to Trade on The Nasdaq SmallCap Market Effective November 12, 2002.Business Editors/High-Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--Nov. 8, 2002 Applied Digital Solutions, Inc. (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), an advanced technology development company, announced today that its securities will begin trading on the Nasdaq SmallCap Market effective Tuesday, November 12, 2002, under its existing stock symbol: ADSX. Commenting on the move to Nasdaq SmallCap, Scott R. Silverman, President of Applied Digital Solutions, stated: "Since January 2, 2002 - when Nasdaq reinstated certain listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. following the terrorist attacks on 9/11 - the Nasdaq rules allow companies the opportunity to transfer to the SmallCap Market if, like Applied Digital, they are not in compliance with the $1.00 per share minimum bid price requirement. If Applied Digital continues to comply with the other SmallCap listing requirements, it expects to have until July 2003 to get its share price above $1.00 for more than 10 consecutive trading days to maintain its SmallCap listing. Also, if the Company continues to comply with all other National Market continued listing requirements, the Nasdaq rules will allow it to regain its National Market listing if its share price exceeds $1.00 for over 30 consecutive trading days." Silverman continued: "With the recent 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. ruling, revenue opportunities for VeriChip, domestically and internationally, as well as progress in the remainder of our business lines, we are optimistic that we can regain National Market listing within the prescribed time frame." About VeriChip(TM) VeriChip is a miniaturized 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, financial, emergency identification and healthcare applications. About the size of a grain of rice, each VeriChip product contains a unique verification number and will be available in several formats, some of which will be insertable under the skin. The verification number is captured by briefly passing a proprietary scanner over the VeriChip. A small amount of radio frequency energy passes from the scanner energizing energizing, adj giving energy to; revitalizing; rejuvenating. the dormant VeriChip, which then emits a radio frequency signal transmitting the verification number. "Getting chipped" is a simple, outpatient procedure that lasts just a few minutes and involves only local anesthetic local anesthetic n. An agent that, when applied directly to mucous membranes or when injected about the nerves, produces loss of sensation by inhibiting nerve excitation or conduction. and insertion of the chip. 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 Solutions. 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. The Company's Advanced Technology Group offers a complete CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. solution to commercial and government customers, as well as a full array of 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 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. The Company intends that 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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