e-Smart Technologies to Grant World Developments Corporation Exclusive Rights in Africa
May 11 2007 - 9:00AM
PR Newswire (US)
WASHINGTON, May 11 /PRNewswire-FirstCall/ -- e-Smart Technologies,
Inc., (Pink Sheets: ESMT); ("e-Smart" or the "Company") and its
parent company IVI Smart Technologies, Inc., is pleased to announce
that in furtherance of the agreement between World Developments
Corporation, WDC, and IVI, WDC has agreed to finance all projects
in the countries of Africa for the right to be IVI/e-Smart's
exclusive partner in Africa. In accordance with the agreement
between WDC and IVI, WDC will immediately advance funds for the
manufacturing, delivery, implementation and operations. IVI will
advance the working capital to e-Smart Technologies, Inc. To
increase shareholder value, IVI will grant e-Smart Technologies,
Inc., the right to be the exclusive provider of its Biometric
Verification Security System(TM) (BVS2(TM)), the Super Smart
Card(TM) and related technologies for Africa. The terms of the
license agreement will be disclosed in the Company's next filing
with the Securities and Exchange Commission. World Developments
Corporation, WDC, is a privately-held U.S. group based in
Washington, D.C. providing services that span various sectors,
including development of fully-integrated construction and civil
engineering projects worldwide; installation and implementation of
large-scale corporate IT networks; internet technology and
corporate communications solutions, and the creation and
maintenance of healthcare informatics solutions for both public
health systems and the private healthcare sector. e-Smart
Technologies, Inc., is the exclusive supplier for Asia and the US
of the Biometric Verification Security System(TM) (BVS2)(TM), and
the Super Smart Card(TM) and related technologies, which e-Smart
believes to be the world's first smartcard of its kind with a
sensor and full on-card system for biometric ID verification
together with other unique technologies. These new generation
technologies permit governments, public and private institutions,
healthcare providers and insurers, companies large and small, their
citizens and customers, respectively, to stop ID and payment fraud,
including identity theft, in connection with both physical and
logical access and with financial and other data related
transactions all without compromising a person's right to privacy.
SAFE HARBOR STATEMENT Statements in this news release that relate
to future plans, financial results or projections, events or
performance are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. While these
statements are made to convey to the public the Company's progress,
business opportunities and growth prospects, readers are cautioned
that such forward-looking statements represent the management's
opinion. While management believes such representations to be true
and accurate based on information available to the Company at this
time, actual results may differ materially from those described.
For more information about e-Smart Technologies, please visit
http://www.e-smart.com/ or contact Media Relations at 703-768-7477
or DATASOURCE: e-Smart Technologies, Inc. CONTACT: Media Relations
of e-Smart Technologies, Inc., +1-703-768-7477, Web site:
http://www.e-smart.com/
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