SSTY's JV Signs Contract With Chinese Government-Sponsored Anti-Counterfeiting Network
November 21 2005 - 9:07AM
PR Newswire (US)
BEIJING and PHILADELPHIA, Nov. 21 /PRNewswire-FirstCall/ -- Sure
Trace Security Corporation (OTC:SSTY) announced that True Product
ID Technology (Beijing) Limited has signed a service agreement with
The National Brand Cartel Anti-Counterfeit Cooperation Network -
Brand315.com, to deliver the True Product ID anti-counterfeiting
technology. True Product ID Technology (Beijing) Limited is a joint
venture owned 50% by a Chinese corporation, Beijing Suneray Zexin
Technology Limited and 50% by True Product ID Technology Limited,
85% of which is owned by Sure Trace. Brand315.com is established
under the authorization of the Ministry of Quality Supervision,
Inspection and Quarantine of the People's Republic of China. It is
a network introducing anti-counterfeit technologies, services and
law enforcement for branded products. Brand315 provides security
labels to top national brands in China and has 600 active members.
Its clients cover all areas of consumer goods and, collectively,
distribute billions of units of goods per day. Brand315 has
informed Sure Trace that it chose the Company's solutions,
collectively known as True Product ID, because it recognized that
the components of this one solution fit the varied and specific
needs of all Brand315's members. According to the feedback from
Brand315, what set the Company apart from other technologies is
that we have demonstrated the present ability to deliver the
technologies developed for China and deploy them across many
different applications - from controlling and tracking counterfeit
products, containers, authenticating precious artifacts, identity
authentication, transportation systems, munitions and document
management. This initial pilot program contract calls for the joint
venture to mark 2 billion labels of the top brands in China. If
this initial pilot program is completed as planned, Company
officials estimate that the total receipts under this contract will
approximate $5,000,000 over the next 3 months. The amount may vary
due to fluctuations in the currency exchange rate. This number of
items to be marked in this initial agreement, 2 billion units, is
just the average daily amount of units commonly processed by the
Brand315 network. The Company will be providing scanners (both from
Innov-X and AMCO), taggants, the services of its proprietary,
remote, real-time authentication software system, KMACK, and
networking to the central database. James Mackay, the Chairman of
the Company said, "For the most part of the last year, our team
here in China has worked extremely hard to provide China with a
total anti-counterfeiting solution. China has chosen to take this
important step in the war on counterfeiting to put a stop to
counterfeit goods not only in China but the world." He went on to
say: "True Product ID is very proud to support the Chinese
government in establishing a world standard and building the spirit
of 'one world one dream.'" About Sure Trace Security Corporation
Sure Trace produces integrators for anti-counterfeiting and
security surveillance applications and is a provider of integrated
tracking devices. The Company intends to deliver turnkey solutions
for governments, armed forces, and industry, through its own
proprietary technology and through aggregating the technology,
products, and services of third parties via licensing agreements
and or joint ventures. For more information go to:
http://www.suretrace.com/. SAFE HARBOR STATEMENT: This news release
contains "forward-looking statements" that are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. "Forward-looking statements" describe future
expectations, plans, results, or strategies and are generally
preceded by words such as "future," "plan" or "planned," "will" or
"should," "expected," "anticipates," "draft," "eventually" or
"projected." You are cautioned that such statements are subject to
a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those
projected in the forward-looking statements, including the risks
that our products may not achieve customer acceptance or perform as
intended, that we may be unable to obtain necessary financing to
continue operations and development, and other risks. No assurances
can be given that the Company shall receive the amounts stated in
this release. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements are
made as of the date hereof and Sure Trace undertakes no obligation
to update such statements. In August 2005, the common stock of Sure
Trace was suspended from trading by the Securities and Exchange
Commission, but the suspension ended in accordance with the
securities laws after ten days. Management of Sure Trace is
currently working with the broker-dealer community and regulators
to permit quotations to be entered on the Pink Sheets as soon as
possible. More information will be provided to the public when
circumstances warrant. DATASOURCE: Sure Trace Security Corporation
CONTACT: Michael Cimino, President of Sure Trace Security,
+1-215-972-6999 Web site: http://www.suretrace.com/
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