InkSure Technologies Inc. (OTC Bulletin Board: INKS), a leading provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, today announced that its wholly-owned InkSure RF subsidiary has been awarded a new U.S. patent related to the Company's ongoing development of "chipless" RF printed labels.
US patent number 6,997,388, entitled "Radio Frequency Data Carrier and Method and System for Reading Data Stored in the Data Carrier," was granted February 14, 2006. This is the 3rd patent involving "chipless" RFID applications granted to InkSure Technologies in the past 16 months.
"This new patent and anticipated future grants define our serious intentions in this field," stated Elie Housman, Chief Executive Officer of InkSure Technologies Inc. "While RFID (Radio Frequency Identification) technology enables automatic non-contact and non-line-of-sight conveyance of product and logistical information, current RFID applications require the embedding of relatively expensive chips into the ID tags, making item-level tagging cost-prohibitive for most products. Our goal is to develop multi-bit 'chipless' RFID printed labels that can be manufactured and applied at a cost of well below one cent each. 'Chipless' RFID labels offer far more speed, functionality and ease-of-use than traditional barcodes and have the potential to revolutionize brand protection and supply chain management on a global scale."
According to IDTechEx Ltd., a leading consultancy in smart labels and smart packaging, "chipless" label technology is expected to represent 45% of total RFID unit volume within ten years.
"We believe that, based on this patent, we have achieved a technology proof-of-concept that addresses the most critical challenge involved in the development of a 'chipless' RFID tag/label using printed conductive ink marks," continued Housman. "This should pave the way to one of the most promising technological foundations for cost-effective 'chipless' RFID solutions."
InkSure Technologies Inc., with its corporate headquarters in Ft. Lauderdale, Florida and its R&D center in Science Park, Rehovot, Israel, specializes in comprehensive, covert security solutions designed to protect high profile brands and documents of value from counterfeiting, fraud and diversion. The Company's sales and marketing activities target a number of market opportunities, including financial, pharmaceutical, branded products, transportation, and government/institutional, on a global scale. The Company's R&D activities include the development of "chipless" RFID technology for affordable item-level secure logistics and track-and-trace applications.
The Company's common stock is listed on the OTC Bulletin Board under the symbol "INKS". Additional information on the Company is available on its website at http://www.inksure.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Although InkSure (the "Company") believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Important factors that could cause actual results to differ materially from the forward-looking statements include the Company's need to obtain substantial additional capital (through financings or otherwise) to fund its operations, the progress of development, government and regulatory approvals and licensing/commercialization of the Company's technologies, and other factors noted in the Company's periodic report filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact: Don Taylor, Vice President - Global Marketing at +1-954-772-8507 or via e-mail
at dtaylor@inksure.com
or RJ Falkner & Company, Inc., Investor Relations Counsel at +1-800-377-9893 or
via e-mail at info@rjfalkner.com