Sure Trace Security Corporation Signs Letter of Intent to Acquire Globe Staff Consulting; Closing Set to Take Place by June 1, 2004.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--May 26, 2004 Sure Trace Security Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SSTY SSTY Subsystem Type ) today announced the signing of a Letter of Intent to acquire 100% of the issued and outstanding shares of Globe Staff Consulting, a privately owned French corporation. Globe Staff is currently marketing a fully developed innovative internet geo-localization (GSM) system called eGeoTrack, which was developed in partnership with French Telecom. eGeoTrack allows real time, two-way localization Customizing software and documentation for a particular country. It includes the translation of menus and messages into the native spoken language as well as changes in the user interface to accommodate different alphabets and culture. See internationalization and l10n. of people from their mobile phones, and can track people and vehicles through cell phones or other tracking devices. Current clients include Polar Electro Polar Electro Oy is pioneered and leading manufacturer of personal Heart rate monitor registering and evaluation equipment. The company is based in Kempele, Finland. Founded in 1977 by University of Oulu professor Seppo Säynäjäkangas, who remains CEO today, Polar introduced the , Orange Telecom, French Telecom and the French Government, including the French Police and Army. Powered by sales of eGeoTrack during the R&D phase, Globe Staff had audited revenue in 2003 of approximately Euros 1.8 million. Management forecasts Revenue for the financial year 2004 to be Euros 6.0 million with Net Income forecasted to be Euros 2.0 million. In addition, Globe Staff is currently working on an R&D project that will include market applications to track crime suspects and real time offshore activities. Offshore mobility and movement will be tracked through GSM/GPS/Galileo (the proposed European Satellite Navigation System satellite navigation system satellite n → système m de navigation par satellite ) on a map displayed on a computer at any 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 , Coast Guard, Navy, Law Enforcement or Intelligence office, vehicle or ship at large, world wide. The terms of payment for the acquisition of Globe Staff is approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 4 million subject to 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 acquisition payments of USD 1.2 million (USD 100,000 per month) will come from a combination of Globe Staff operating cash and cash on the balance sheet of Globe Staff itself, plus restricted shares and cash from Sure Trace. Closing is set to take place no later than June 1, 2004. Globe Staff will become a wholly-owned subsidiary of Sure Trace. Kjell Sudenius, Sure Trace 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. , commented, "This exciting acquisition, at exceptional value, gives us a quantum leap quantum leap n. An abrupt change or step, especially in method, information, or knowledge: "War was going to take a quantum leap; it would never be the same" Garry Wills. towards our goal of becoming the dominant Global Provider of Integrated Tracking Devices. Now that eGeoTrack has had significant acceptance in the armed forces and industry within France Globe Staff is experiencing very positive interest and sales in Europe beyond French borders and into the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community market. At this moment, eGeoTrack is poised to be rolled out globally. Because it is a proven system and can be incorporated easily into the chip of a cell phone or deployed as a stand alone tracking device, we believe it will achieve rapid acceptance worldwide." Cameron Moriarty, COO of Sure Trace and Director of Marketing and Sales for Globe Staff remarked, "Of equal significance to Sure Trace is access to critical market channels for the accelerated introduction of the I.D.ology ol·o·gy n. pl. ol·o·gies Informal A branch of learning. [From -ology.] Noun 1. Loss Prevention and Anti-Counterfeiting systems throughout Europe. Globe Staff will provide Sure Trace with instant credibility at the highest levels in industry and governments in Europe. This enhanced credibility will carry over to North America and Asia as overnight Sure Trace has become a company of substance with significant revenue." About Globe Staff Globe Staff Consulting, located in Bayonne, France, has developed a group of geolocalization devices and systems, the first of which is eGeoTrack, a cell phone geolocalization system (GSM). Additional innovative systems under development include Geosenior and Geocardio systems based on mini-GSM/GPRS modules for medical telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. with people geolocalization applications, and the eGeokid ASP server geolocalization system for child and teenager security. About Sure Trace Security Corporation Sure Trace is on track to be The Global Provider of Integrated Tracking Devices. The Company's objective is to be the premier system integrator for anti-counterfeiting and security surveillance applications world wide within 2005. This will be accomplished by delivering turnkey solutions onshore and offshore for governments, armed forces and civil industry. The Company is reviewing key alliance and acquisition opportunities to help it fast track growth and profitability. http://www.idologylabs.com ; http://www.suretrace.com. 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 Harbour 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 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. |
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