VeriChip Corporation Signs Master Product Purchase Agreement with American Capital Holdings For Initial Purchase of 3,200 VeriChips.Business Editors/High-Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--June 9, 2004 American Capital plans to integrate VeriChip technology with its Freedom4Wireless Mobile Broadband Wireless Solutions for security applications 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) ) , an advanced technology development company, announced today that 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. , VeriChip(TM) Corporation, has signed a Master Product Purchase Agreement with American Capital Holdings. American Capital has agreed to an initial purchase of 3,200 VeriChips and 12 scanners. American Capital plans to integrate VeriChip technology with its Freedom4Wireless mobile broadband wireless solutions for secure identification access. Freedom 4 Wireless(TM) (F4W F4W Figure Four Weekly (website) ), a majority-controlled American Capital company, is a provider of 4th Generation Mobile Broadband Wireless Services and Products. F4W's unique 4G mobile broadband wireless system provides data, video, audio, and voice services to subscribers on the move, at speeds up to 200 mph. F4W generates revenue from the sale of subscriber services, vertical product sales, equipment sales and contracting to deploy turnkey wide area network wireless solutions. F4W is building a national high speed mobile broadband wireless network as well as building tactical networks for Homeland Security and Law Enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). . F4W's services and products fall into three broad categories. Freedom 4 Emergency Alert Display Services(TM), Freedom 4 Mobile Services(TM) and Freedom 4 Smart Equipment Services(TM). F4W's focus is on the public safety market in 2004 and 2005, by in 2006 F4W believes that the demand for mobile broadband services from business customers will begin to generate significant incremental revenue from the network infrastructures that originally were deployed to provide services to the Public Safety Market. Freedom 4 Emergency Alert Display Services(TM) networks are networks of plasma and LCD displays that provide Emergency Alert System(TM) (EAS (Electronic Article Surveillance) A security system for preventing theft in retail stores that uses disposable label tags or reusable hard tags attached to the merchandise. ) and Community Alert System (CAS(TM)) messaging to the public in times of community crisis and distress. Such services will allow both federal and local governmental authorities to communicate with the public about imminent and immediate events that may require a quick response to save lives or improve public well-being. Built into these displays are 2-way video and voice capability so that an individuals and first responders in a crisis can communicate with emergency organizations. See www.freedom4wireless.com for more information. American Capital intends to integrate VeriChip into its Freedom 4 Emergency Alert Display Services and Emergency Alert System for secure identification access by authorized personnel via PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). or otherwise. Commenting on this relationship, Barney Richmond, 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 American Capital stated, " Secure access by authorized personnel only Authorized Personnel Only (APO), is a fictional black ops unit within the Central Intelligence Agency in the American TV series Alias. It was formed at the beginning of Season 4 and is headquartered beneath the Los Angeles Subway system. to the Freedom 4 network is pivotal for enhanced security of the network. For homeland security, law enforcement and commercial applications, we believe Verichip, whether external or subdermal sub·der·mal adj. Located or placed beneath the skin; subcutaneous. , can ultimately further enhance the security of our network capabilities. We look forward to working with the VeriChip team to accomplish this integration." About the size of a grain of rice, VeriChip(TM) is the world's first subdermal, radio frequency identification See RFID. microchip that can be used in a variety of security, financial, emergency identification and other applications. American Capital Holdings has signed distribution agreements for Texas, Maryland, Virginia, North Carolina, Nevada, California, New Jersey and Arizona. About American Capital Holdings, Inc. American Capital Holdings, Inc. (ACH) is a merchant-banking corporation servicing development stage companies. The Company has been organized for the principal purpose of acquiring interests, including controlling interests, in a variety of established businesses. The Company will make capital investments in private companies and publicly traded companies. ACH's investment focus is in energy exploration, certain established technologies, insurance, communications, manufacturing and governmental suppliers. Their website is www.achinc.net. About VeriChip(TM) VeriChip is a miniaturized, radio frequency identification (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. ) device that can be used in a variety of security, financial, emergency identification and other applications. About the size of a grain of rice, each VeriChip product contains a unique verification number and will be available in several formats, some of which will be insertable under the skin. The verification number is captured by briefly passing a proprietary scanner over the VeriChip. A small amount of radio frequency energy passes from the scanner energizing energizing, adj giving energy to; revitalizing; rejuvenating. the dormant VeriChip, which then emits a radio frequency signal transmitting the verification number. In October 2002, the US Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) ruled that VeriChip was not a regulated device with regard to its security, financial, personal identification/safety applications but that VeriChip's healthcare information applications are regulated by the FDA. VeriChip Corporation is a wholly owned subsidiary of Applied Digital Solutions. For more information about VeriChip, visit www.adsx.com. About Applied Digital Solutions, Inc. Applied Digital Solutions is an advanced technology development company that focuses on a range of life-enhancing, personal safeguard technologies, early warning alert systems, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Technology Group, the company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. Applied Digital Solutions is the beneficial owner of a majority position in Digital Angel Corporation (AMEX AMEX See: American Stock Exchange : DOC - News). 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. 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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