Digital Angel Set to Join the New Russell Microcap Index
June 14 2005 - 8:35AM
PR Newswire (US)
Digital Angel Set to Join the New Russell Microcap Index SO. ST.
PAUL, Minn., June 14 /PRNewswire-FirstCall/ -- Digital Angel
(AMEX:DOC), an advanced technology company in the field of rapid
and accurate identification, location tracking, and condition
monitoring of high-value assets, announced today that it is
scheduled to join the Russell Microcap Index when Russell
Investment Group reconstitutes its family of 23 U.S. indexes on
June 24. Russell recently posted a list of preliminary additions to
its indexes at http://www.russell.com/US/indexes. The Russell
Microcap Index, which will be comprised of the smallest 1,000
securities in the small-cap Russell 2000(R) Index plus the next
1,000 companies, will be based on a ranking of all U.S. equities by
market capitalization. This new index offers managers and other
investors a comprehensive, unbiased barometer to compare their
performance against the genuine microcap marketplace of stocks "We
are very pleased to be included in the Russell Microcap Index.
Inclusion in this index reflects the progress we've made in the
last year to grow shareholder value and will help raise our profile
among institutional and retail investors. At the beginning of 2004,
Digital Angel successfully refocused on growth in our core
businesses while controlling expenses and we will continue our
efforts to rapidly increase shareholder value," said Kevin McGrath,
CEO of Digital Angel. The Russell indexes are widely used by
investment managers and institutional investors for index funds and
as benchmarks for both passive and active investment strategies.
More than $2.5 trillion in assets currently are benchmarked to
them. Investment managers who oversee these funds purchase shares
of member stocks according to that company's weighting in the
particular index. Companies slated for the Russell Microcap were
ranked as of May 31, 2005 by total market capitalization and
weighted based on free-float adjustment, an integral aspect of
Russell index methodology. Free-float adjustment means stocks are
weighted by their available market capitalization which is
calculated by multiplying the primary closing price by the
available shares. About Digital Angel Corporation Digital Angel
Corporation develops and deploys sensor and communications
technologies that enable rapid and accurate identification,
location tracking, and condition monitoring of high-value assets.
Applications for the Company's products include identification and
monitoring of pets, fish, livestock, and humans through its
patented implantable microchips; location tracking and message
monitoring of vehicles and aircraft in remote locations through
systems that integrate GPS and geosynchronous satellite
communications; and monitoring of asset conditions such as
temperature and movement, through advanced miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital,
Inc. (NASDAQ:ADSX). For more information about Digital Angel,
please visit http://www.digitalangelcorp.com/ About Russell
Russell, a global leader in multi-manager investment services,
provides investment products and services in more than 39
countries. Russell manages more than $135 billion in assets and
advises clients worldwide representing $2.3 trillion. Founded in
1936, Russell is a subsidiary of Northwestern Mutual and is
headquartered in Tacoma, Wash., with additional offices in New
York, Toronto, London, Paris, Singapore, Sydney, Auckland and
Tokyo. For more information, go to http://www.russell.com/. The
statements in this press release that are not strictly historical,
are "forward-looking" statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, that the Company's majority
stockholder, Applied Digital Solutions, Inc. owns 55.2% of the
Company's common stock; that new accounting pronouncements may
impact the Company's future results of operation; that the Company
may continue to incur losses, that infringements by third parties
on the Company's intellectual property or development of
substantially equivalent proprietary technology by the Company's
competitors could negatively affect the Company's business; that
domestic and foreign government regulation and other factors could
impair the Company's ability to develop and sell the Company's
products in certain markets; that the Company relies on sales to
government contractors of its animal identification products, and
any decline in the demand by these customers for the Company's
products could negatively affect the Company's business; that the
Company depends on a single production arrangement for its patented
syringe-injectable microchips; that the Company depends on
principal customers; that the Company competes with other companies
and the products sold by the Company's competitors could become
more popular than the Company's products or render the Company's
products as obsolete; that the Company's earnings will decline if
the Company must write-off goodwill and other intangible assets;
that the exercise of options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock ;that currency exchange rate fluctuations could have
an adverse effect on the Company's sales and financial results; and
that the Company depends on a small team of senior management and
the Company may have difficulty attracting and retaining additional
personnel. A detailed statement of risks and uncertainties is
contained in the Company's reports to the Securities and Exchange
Commission, including in particular the Company's Form 10-K for the
fiscal year ended December 31, 2004. Investors and stockholders are
urged to read this document carefully. The Company can offer no
assurances that any projections, assumptions or forecasts made or
discussed in this release will be met, and investors should
understand the risks of investing solely due to such projections.
The Company undertakes no obligation to revise any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this press release. Contact: Allen &
Caron Inc. Mike Lucarelli (investors) Len Hall (media)
(212)-691-8087 (949)-474-4300 DATASOURCE: Digital Angel Corporation
CONTACT: investors, Mike Lucarelli, +1-212-691-8087, , or media,
Len Hall, +1-949-474-4300, , both of Allen & Caron Inc., for
Digital Angel Corporation Web site: http://www.russell.com/ Web
site: http://www.russell.com/US/indexes Web site:
http://www.digitalangelcorp.com/
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