Gabriel Technologies Signs Letter Of Intent To Acquire Digital Defense Group; Company's Biometric Security Pilot Projects Forecast $15M in 2006.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. -- Gabriel Technologies Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GWLK), a homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States company providing physical locking systems and GPS tracking See vehicle tracking. services, announced today that it has signed a letter of intent to acquire majority interest in Resilent LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , of Omaha, Neb., currently doing business as Digital Defense Group. The agreement is subject to a number of contingencies and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . The company expects to close the transaction in January. Gabriel will acquire 50.1% ownership of Resilent LLC in exchange for $2 million in cash and 2 million shares of Gabriel common stock. "Digital Defense Group's biometric technology knocks down some of the larger barriers to the adoption of biometrics in securing facilities and information," said Gabriel 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. Keith Feilmeier. "They've figured out how to enhance security while protecting privacy - to manage identity at the user level. That's a unique value proposition that matters to security customers." Digital Defense Group CEO Steve Campisi said, "This merger unites three innovative companies that offer products that solve security issues. We are going to combine our technologies to create new products which will address security issues that the industry is demanding to be solved. Together, with Digital Defense Group's biometric card technology, Trace Technologies with its inventive GPS tracking technology and Gabriel Technologies' WAR-LOCK(TM) series of locks will create new products to meet market demands." Digital Defense Group is a leading provider of wireless biometric security products. The company provides affordable biometric security access solutions based on patent-pending technology. Factor4(TM) and IronGate(TM) on-card self-enrolling(TM) biocards are wireless and are completely self-contained in a credit card size form factor - an industry first. Its on-card power source is charged wirelessly. Both biocards feature a unique self-enrollment process enabling the user's unique biometric signature An authentication method that uses the dynamics of a person's handwritten signature. The pen pressure and duration of the signing process, which is done with a stylus on a touch screen or digital-based pen tablet, is recorded as an algorithm that is compared against future signatures. to be stored directly on the biocard itself, eliminating the need for a centralized database or extra external hardware or software during enrollment and authentication, and simplifying identity management. Authentication is achieved through an on-card 1:1 authenticator. Factor4 biocard is engineered for logical and physical access. IronGate biocard offers the same benefits as Factor4 biocard, but features proprietary technology that boosts its transmission up to 10 meters. Both biocards have an optional 1GB on-card memory upgrade and process at 400MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. . "It's basically a 386 computer you can hold in your hand," said Campisi. To discover more about Factor4 and IronGate biocards, visit www.myDigitalDefense.com. Digital Defense has initiated several Factor4 biocard pilot programs with a number of Fortune 100 companies, major airlines and the Department of Defense. Management believes significant purchase orders will be placed pending successful completion of these programs. These pilot programs are forecasted to generate a minimum of $15 million in revenue in calendar year 2006. Gabriel CEO Keith Feilmeier said, "This transaction positions Gabriel to provide advanced solutions into three major markets within the homeland security industry. When combined with our patented locking systems and the newly launched Trace, assisted GPS location services, the addition of Digital Defense's biometric access solutions to our product portfolio positions us as a provider of truly unique, proprietary solutions in the rapidly growing homeland security space. We look forward to working with Steve Campisi and his talented team at Digital Defense Group in pursuit of significant opportunities in the months ahead." Pali Capital is providing financing for the acquisition. In addition to being Gabriel's Investment Bank and key advisor, the principals and major clients of Pali Capital have been significant investors in Gabriel Technologies Corp as well. Pali Capital is a full-service NASD-registered and SEC and NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). regulated broker-dealer as well as a member of the Securities Protection Corporation (SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. ). Located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London, Pali has leveraged its core business to create an integrated blend of discrete product lines, including equity execution and trading, options modeling and trading, commodities and futures trading, independent research, corporate finance, hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" hosting and asset management. "We see this opportunity to bring Digital Defense Group into the Gabriel Technologies Corp family of companies as an important stepping stone for Gabriel's continued mission to deliver timely and needed products to the homeland security and consumer sectors," said Matthew Gohd, managing director of Pali Capital. About Gabriel Technologies Corp Through its 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. , Gabriel Technologies, LLC of Omaha, Neb., Gabriel Technologies Corp. develops, manufactures and sells a series of physical locking systems for the transportation and shipping industries collectively known as the WAR-LOK(TM) Security System. Security has evolved substantially in recent years due to increased risks from theft and terrorism. With the implementation of the award-winning WAR-LOK, Gabriel Technologies provides cost-efficient security measures to prevent national and global theft and for homeland security issues. Gabriel Technologies' mission is to provide the highest quality security products available to the transportation and shipping industries by creating innovative, proven technologies that can be implemented on a realistic basis. Gabriel Technologies Corp. is also the parent company of the next-generation-assisted GPS company, Trace Technologies, LLC, http://www.trace-tech.net. For more information about Gabriel, contact Dan Chicoine at (402) 614-0258 or visit http://www.gabrieltechnologies.com. A profile on the business can be found at http://www.hawkassociates.com/gabriel/profile.htm. Investors may contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor relations Investor relations The process by which the corporation communicates with its investors. kit containing Gabriel Technologies' press releases, SEC filings, current Level II price quotes, interactive Java stock charts and other useful information for investors can be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. Forward-Looking Statements: Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. ), ongoing business strategies or prospects, and possible future Gabriel actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance. |
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