Chairman And CEO Of Applied Digital Solutions To Accept Common Shares of Applied Digital Solutions in Lieu of Cash Compensation.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--June 28, 2001 Stock deemed "simply too attractive to not...accept shares in lieu in lieu prep. instead. "In lieu taxes" are use taxes paid instead of sales tax. A "deed in lieu of foreclosure" occurs when a debtor just deeds the property securing the loan to the lender rather than go through the foreclosure process. of cash compensation" Applied Digital Solutions, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), a leader in information technology and solutions, today announced that 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. Richard J. Sullivan began accepting shares in Applied Digital Solutions common stock in lieu of cash compensation. In a statement, Richard J. Sullivan explained the decision: "At the current level and with our near-term prospects, Applied Digital Solutions common stock is simply too attractive to not utilize my option of accepting shares in lieu of cash compensation. Digital Angel has the near-term prospects of partnering with international multi-billion dollar corporations, particularly in the medical field. Further, we are experiencing success in our efforts to divest of those assets that are not associated with the core business. Applied Digital Solutions, in my estimation, is the best investment I can currently make." About Digital Angel Digital Angel(TM) 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 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. Digital Angel will be able to tap into an addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. marketplace estimated to exceed $70 billion. 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; 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; and providing a tamper-proof means of identification for enhanced e-commerce security. For more information or to reserve Digital Angel service, visit http://www.digitalangel.net About Applied Digital Solutions, Inc. Applied Digital Solutions is an information technology and solutions company operating on the I3 Services Platform - Intelligent Integrated Information Services See Information Systems. . Through our core business units (Applications, Services and Advanced Wireless), Applied Digital Solutions offers - products and services for the collection, organization, analysis, warehousing and dissemination of information 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' 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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