RFID, LTD. is Approved for SBA HUBZone Empowerment Contracting Program.DENVER -- 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. , LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :RFDL) today announced acceptance into the Small Business Administration (SBA) HUBZone Empowerment Contracting Program. Congress passed the Small Business Reauthorization Act of 1997 to help increase employment opportunities and stimulate economic development and capital investment in distressed communities across the United States. As of October 1, 2000, all Federal agencies are subject to the requirements of the HUBZone Program. The statute sets the goal for HUBZone contracts to be 3% of a Federal department's overall spend. The 3% goal sets the United States Department of Defense (DoD) HUBZone spend target at approximately $4.6 billion per annum. DoD announced a phased RFID compliance mandate to the Pentagon's 46,000 suppliers requiring Radio Frequency Identification See RFID. (RFID) tags to be embedded in individual products or product cases and pallets consumed by DoD. "RFID, LTD. appears to be the only publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in the RFID space to be accepted into the HUBZone contracting program." said Nicholas Chavez, president of RFID, LTD. "The US Department of Defense now has the discretion to award RFID, LTD. sole-source RFID-related contracts with values up to $3 million each without being impeded by a protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. contract bidding process." The acquisition of such HUBZone contracts and subcontracts could lead to as many as 65 new jobs with RFID, LTD. in the Downtown Denver area over the next twelve months. "We're proud to be helping the Downtown Denver economy by offering employment to skilled residents living in an underutilized area. It's a win-win for the City of Denver
About RFID, LTD. RFID LTD. (OTC: RFDL) is the world leader in formulating, testing and depoying vendor neutral UGF radio frequency identification (RFID) solutions for small to medium sized businesses required to comply with Wal-Mart, Target, Best Buy, Albertsons, Home Depot and Department of Defense RFID compliance mandates. For more information visit http://www.rfid-ltd.com. Forward-looking Statements This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States 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 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion