InkSure Technologies Inc. (OTC Bulletin Board: INKS), a leading provider of covert security solutions for the prevention of counterfeiting, fraud and diversion involving high profile brands and documents, today announced that the Company has scheduled the shipment of approximately 530 SignaSure(TM) electro-optic readers, in accordance with an order that was received and initially announced in the second quarter of 2005. The reader shipment is expected to contribute approximately $500,000 to InkSure's revenues. Additional revenues will be generated from the related consumption of encoded inks in 2007 and future years.
The international order, from Sun Chemical Group B.V., the world's leading manufacturer of printing inks, involves the utilization of InkSure's covert security solutions in a project involving the application of secure tax marks to prevent the loss of government and manufacturer revenues due to counterfeiting activities. The marks will be applied to hundreds of millions of individual product containers.
"We are pleased to announce the pending shipment of this equipment order, which is of great importance to InkSure because it represents our initial participation in a potentially huge market involving tax stamps/marks, the counterfeiting of which costs governments around the world billions of dollars annually," stated Elie Housman, Chief Executive Officer of InkSure Technologies Inc. "Intervening factors that previously delayed the shipment and were unrelated to InkSure's equipment or performance have been resolved, and we are pleased that the project is again moving forward."
"Once the international authentication system is up and running smoothly, we expect sales of project consumables to generate recurring revenues for years to come," continued Housman. "This is consistent with our long-term business strategy, which relies heavily upon the development of high-margin 'annuity' income streams from recurring SmartInk sales."
About InkSure Technologies Inc.
InkSure Technologies Inc., with its corporate headquarters in Ft. Lauderdale, Florida and its research and development 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 ability to access the capital necessary 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:
Jamie Assaf, CEO, U.S. Operations at +1-954-772-8507 or via e-mail at
or RJ Falkner & Company, Inc., Investor Relations Counsel at +1-800-377-9893 or
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