CardXX Bolsters Board of Directors and Commences Search for CEO.ENGLEWOOD, Colo. -- CardXX, Inc. (Pink Sheets:CXCQ), a leading smartcard manufacturer, today announced that it has bolstered its Board of Directors and that Paul Lewis will step down as President 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. effective April 1, 2005. "I have fully enjoyed serving CardXX as its President and CEO," stated Lewis. "Now that the company is stabilized and poised for significant growth, I will vacate this position in order to make room for an executive that can build upon our recent successes." Lewis will remain active on the board of directors. CardXX also announces the appointment of Eric Hellige to the company's board of directors. Mr. Hellige is a partner with the law firm of Pryor Cashman Sherman and Flynn and brings significant experience in the area of general corporate law, specializing in public corporate finance, securities, mergers and acquisitions, and general corporate counseling. He also represents a number of major banks acting as indenture trustee in connection with public and private debt, project finance and asset-backed financings, workouts and default administration. "We are very pleased to have someone of Eric's caliber join the board," stated Phil Worack, Chairman. CardXX has developed patented technologies to securely encapsulate en·cap·su·late v. 1. To form a capsule or sheath around. 2. To become encapsulated. en·cap electronics into smartcards and other portable devices or form factors. CardXX partnered with Spyrus to engineer the first smartcard to receive certification from the National Institute of Standards and Technology National Institute of Standards and Technology, governmental agency within the U.S. Dept. of Commerce with the mission of "working with industry to develop and apply technology, measurements, and standards" in the national interest. (NIST (National Institute of Standards & Technology, Washington, DC, www.nist.gov) The standards-defining agency of the U.S. government, formerly the National Bureau of Standards. It is one of three agencies that fall under the Technology Administration (www.technology. ) for Overall Level 3 compliance, including Physical Security with the Federal Information Processing Standard Federal Information Processing Standards (FIPS) are publicly announced standards developed by the United States Federal government for use by all non-military government agencies and by government contractors. (FIPS (Federal Information Processing Standards) A series of publications issed by the U.S. National Institute of Standards and Technology (NIST) that specifies information security guidelines for federal government departments and agencies. ) 140 -- Security Requirements for Cryptographic Modules. The CardXX process offers the following unique advantages: --Injected thermoset A polymer-based liquid or powder that becomes solid when heated, placed under pressure, treated with a chemical or via radiation. The curing process creates a chemical bond that, unlike a thermoplastic, prevents the material from being remelted. See thermoplastic. polymer encapsulates and protects all electronic elements completely and securely --Low-temperature and low-pressure process prevents damage to delicate electronics and improves manufacturing yield --Superior heat resistance and chemical resistance protects against physical and chemical attacks --Physical access to chip electronics is difficult to obtain without severe damage or destruction of chip. |
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