Sure Trace Announces its Regional Distributor Sure Trace Asia Ltd. Negotiates a Joint Venture.HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. -- Sure Trace Security Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SSTY SSTY Subsystem Type ) announced today that its 40 % owned regional distributor Sure Trace Asia Ltd (STA Ltd.). has negotiated a Memorandum of Agreement A memorandum of agreement (MOA) or cooperative agreement is a document written between parties to cooperatively work together on an agreed upon project or meet an agreed upon objective. The purpose of an MOA is to have a written understanding of the agreement between parties. for the establishment of a Joint Venture with Beijing Suneray Communication Co., Ltd. (Suneray). The Joint Venture is 50/50 and approvals and licenses will be held by the Joint Venture. Suneray is a government owned corporation that has been appointed by the Government of China to develop a solution for the total positive identification and authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. of all products manufactured in China and imported into China, Hong Kong, & Macau. Suneray has also been appointed to recommend a total anti-counterfeit solution for the government of China. Commenting on the reasons for establishing the Joint Venture, William Chan, 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. of STA, Ltd. stated, "That Suneray is entering into a joint venture with STA Ltd., because they have tried IDology marking technology and they feel it is the most advanced in the world." Suneray and STA Ltd. have established the goal of having the Memorandum of Agreement converted into binding agreements and documents by March 15, 2005. Sure Trace Security Corporation Chairman and CEO Jim MacKay said, "We are excited to see the early results of our establishment of STA, Ltd. We believe this opens the door to the rapid deployment of IDology based solutions in China. We believe STA Ltd. has the potential to be highly successful and are hopeful of substantial long term equity returns from STA, Inc., plus the more immediate potential of 15% royalties on STA Ltd. gross revenues. We believe the distributorship model is demonstrating the benefit of well connected, culturally appropriate, regional representatives." About Sure Trace Asia Ltd.. Originally, introduced as STA Inc., on January 20, 2005, Sure Trace Security Corporation wishes to clarify that the final incorporated name is actually Sure Trace Asia Ltd (abbreviated as STA Ltd.) of which Sure Trace Security Corporation owns 40%. The other 60% is held by Anhon Holdings Ltd.. The CEO of Sure Trace Asia Ltd. is William Chan, the founder of China Internet Corporation (http://www.china.com/). The headquarters of STA Ltd.. are located in the Eton Tower in Hong Kong. In addition to holding 40% of STA Ltd., Sure Trace Security Corporation also retains a 15% royalty on the gross revenue of STA Ltd. About Sure Trace Security Corporation Sure Trace is on track to be the premier system integrator for anti-counterfeiting and security surveillance applications and a world-class provider of integrated tracking devices world wide within 2005. This will be accomplished by delivering turnkey solutions onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. and offshore for governments, armed forces and industry. Sure Trace is now reviewing additional key alliance and acquisition opportunities to help it fast track growth and profitability. For more information go to: www.suretrace.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Sure Trace to be materially different from the statements made herein. Sure Trace Security Corporation (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :SSTY) |
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