*TrueProduct ID Inc. (TPDI) die "kleine" von SSTY*
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AQSIQ Establishes Details and Target Pricing Structure Regarding Use of True Product ID's Technology For Chinese Liquefied Natural Gas Containers
Tuesday September 4, 8:30 am ET
BEIJING & PHILADELPHIA--(BUSINESS WIRE)--True Product ID, Inc. (OTCBB: TPDI - News) announced that the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") (www.aqsiq.gov.cn) has agreed to supplementary provisions to its project cooperation agreement with TPID's Chinese joint venture affiliate company, True Product ID Technology (Beijing) Limited ("TPID Beijing"), which establish details and a target pricing structure regarding the use of TPID's S-DNA and KMACK technologies for Chinese liquefied natural gas ("LNG") bottles, tanks, and other containers.
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AQSIQ's supplementary provisions require TPID Beijing to provide a special equipment security/safety logo, and to implement a special equipment identification security management system, for LNG containers throughout China. Based on official Chinese records, AQSIQ projects that there are currently a total of 130 million LNG tanks in China and that total is expected to increase by approximately 10 percent every year. AQSIQ wants TPID Beijing to complete marking of the LNG containers nationwide within 3 years, with marking to begin immediately in select areas.
AQSIQ's supplementary provisions further require TPID Beijing to provide certain types of its proprietary S-DNA readers/scanners to approximately 25,000 LNG gas stations and 15,000 manufacturers throughout China and to integrate the stations and manufacturers into a special equipment identification security management system.
In its supplementary provisions, AQSIQ sets out certain "target" prices for TPID Beijing to provide (1) a special equipment identification security/safety logo for 130 million LNG tanks (a price for marking each LNG tank); (2) 50,000 of a certain type of its proprietary S-DNA readers/scanners; (3) 15,000 of another type of its proprietary S-DNA reader/scanner; and (4) an information management system for 50,000 platforms/ports for LNG gas stations, special equipment manufacturers and other entities in China.
Under the target prices set forth in its supplementary provisions, AQSIQ projects the total gross revenue over a 3-year period for the use of TPID's technology for LNG containers to be approximately 20.13 Billion Chinese Yuan, which according to www.xe.com, equates to approximately 2.67 Billion U.S. Dollars as of August 30, 2007. TPID has not yet completed its analysis as to what would be net revenues. TPID anticipates it will be in a better position to more fully ascertain the expenses needed to implement this LNG tank phase of the AQSIQ project cooperation agreement as more details are gathered during TPID Beijing's continued coordination and consultation with AQSIQ, provincial and local authorities, LNG gas stations, and special equipment manufacturers.
TPID expects to post a copy of and further information about the supplementary provisions on TPID websites. More specific details about the supplementary provisions will come as TPID Beijing works with AQSIQ to implement them.
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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 about True Product ID, Inc., go to http://www.tpid.net. For more information about True Product ID Technology (Beijing) Limited, go to http://www.trueproductid.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. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Contact:
True Product ID, Inc.
610-608-9300
mantonoplos@tpid.net
--------------------------------------------------
Source: True Product ID, Inc.
in ein paar monaten sieht es hier gut aus ;-))
Sure Trace Security Corporation Announces Settlement With SEC; Signs Consent Decree Neither Admitting Nor Denying Allegations In Complaint
Thursday September 13, 2:44 pm ET
PHILADELPHIA, Sept. 13, 2007 (PRIME NEWSWIRE) -- Today, Sure Trace Security Corporation (Other OTC:SSTY.PK - News) announced that the Securities and Exchange Commission has finalized its long-standing investigation of Sure Trace with the bringing of a complaint in U.S. District Court for the District of Columbia. The matter was settled by the entry of consents by the Company and two individuals to statutory injunctions, in which the defendants neither admitted nor denied the allegations in the complaint.
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Much of the Commission's Complaint relates to alleged violations that occurred prior to 2005. The press releases that the SEC alleged were false and misleading were all issued in 2004, before current management joined the Company, and under whom, as the Commission's complaint acknowledges, the Company has changed the procedures by which press releases are prepared and reviewed.
Michal M. Cimino, Sure Trace's Chairman and President, stated: ``We are very happy to have this matter behind us. We have instituted procedures designed to provide reasonable assurance that our future activities will be fully compliant with all securities laws and rules. I am very glad for Sure Trace's stockholders that Sure Trace is now poised to start to develop its existing business opportunities without the 'overhang' of an impending SEC investigation.''
To see a copy of the SEC complaint in this matter go to: http://sec.gov/litigation/complaints/2007/comp20277.pdf ; To see the SEC's Litigation Release go to: http://sec.gov/litigation/litreleases/2007/lr20277.htm
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. 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.
Contact:
Sure Trace Security Corporation
Michael Cimino, President
215-972-6999
michaelc@suretrace.com
Source: Sure Trace Security Corporation
aber nach dieser meldung könnte ja SSTY endlich mal aus dem grey market raus und wieder normal bewertet werden. was meinst??
Sure Trace Security Corporation Announces Goal to Return to Trading On Public Market
Friday September 28, 9:24 am ET
SEC Investigation Completed, Company Focuses On Creating Stockholder Value
PHILADELPHIA, Sept. 28, 2007 (PRIME NEWSWIRE) -- Sure Trace Security Corporation (Other OTC:SSTY.PK - News) (the ``Company'') announced today that having just concluded its long-standing investigation by the Securities and Exchange Commission, the Company is now focused on securing a broker-dealer/market maker to submit an application to FINRA to make a market for the Company's common stock and to have its common stock quoted on the Pink Sheets. The Company believes that creating a public market for its common stock will create stockholder value and enable the Company to pursue potential business opportunities to grow and implement its business strategy which may include the acquisition of complementary business and assets.
To assist the Company through this process, it retained one of the most highly respected and experienced firms and attorneys in the field to guide them in this endeavor, Virginia K. Sourlis, Esq. of The Sourlis Law Firm located in Red Bank, New Jersey.
About Sure Trace Security Corporation
Sure Trace Security Corporation was formerly a producer of integrators for anti-counterfeiting and security surveillance applications and a provider of integrated tracking devices. In May 2006, the Company transferred its anti-counterfeiting and authentication business to its former subsidiary, True Product ID Inc. (OTC BB:TPDI.OB - News) through a spin off in which SSTY shareholders received a then-majority of the shares in TPDI.
The Company currently intends to become an incubator for technologies and companies emanating from China, taking advantage of the contacts that were made by the Company over the last two years.
The Company retained its trace and tracking subsidiary, Globe Staff Consulting Corp, (GSFC) which voluntarily consented to a revocation of the registration of its stock on October 20, 2006 because it had not filed reports required under Section 13 of the Securities Exchange Act of 1934, as amended.
For more information on SSTY and GSFC go to: http://www.suretrace.com and to http://www.gsc.fr/corp/. These websites are not deemed, however, to be a part of this press release. Please note, both sites are currently undergoing renovation.
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SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
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. 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.
Contact:
Sure Trace Security Corporation
Michael Cimino, President
215-972-6999
michaelc@suretrace.com
--------------------------------------------------
Source: Sure Trace Security Corporation
--------------------------------------------------
2-Oct-2007
Annual Report
ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion should be read in conjunction with, and is qualified in its entirety by, our audited financial statements and notes thereto, and other financial information included elsewhere in this Annual Report on Form 10-KSB.
Certain statements contained in this "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in this report are forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "anticipate", "intend", "plan", "believe", "estimate", "potential", or "continue", the negative of these terms or other comparable terminology. These statements involve a number of risks and uncertainties. Actual events or results may differ materially from any forward-looking statement as a result of various factors, including those described above under "Risk Factors".
The Company's Current Strategy and Priorities
The Company's current priority is to solidify its strategic position and opportunities in China. Many of the goods in the world are manufactured in China. That includes both Chinese manufacturers and multinational corporations. That includes goods manufactured in China for both the domestic Chinese market and for export. As such, China and its government and industries face many of the more significant challenges associated with counterfeiting and product safety, which the Company seeks to address through its technology. It is China where the Company and its Chinese joint venture affiliate have earned the
respect of government and industry. As reported on the website sponsored by the Association of Chinese Anti-Counterfeiting Technology, www.21cata.com.cn, our technology was recently recognized by representatives from the Chinese Ministry of Public Security. As reported on TPID Beijing's website, our technology also received a favorable initial assessment from the Chinese Ministry of Science and Technology. It is China where the Company and its Chinese joint venture affiliate are working with government and industry on significant anti-counterfeiting, safety, and other initiatives and where the Company's technology has been designated and/or registered as an exclusive or preferred technology in connection with those initiatives. It is China where the Company through its Chinese joint venture affiliate has entered into significant contracts. The Company's immediate priority is to begin fulfilling and generating revenues from China contracts.
The National Contract with AQSIQ To Mark Chinese Liquefied Natural Gas Container
and Special Equipment
As reported in its press release on August 27, 2007, the Company, through its Chinese joint venture affiliate, entered into a contract with the National Quality Inspection Department of the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ"), to develop a national safety/security system for China's liquefied natural gas and other pressurized canisters and other special equipment.
According to its website (www.aqsiq.gov.cn), AQSIQ is a ministerial administrative organ directly under the State Council of the People's Republic of China in charge of national quality, metrology, entry-exit commodity inspection, entry-exit health quarantine, entry-exit animal and plant quarantine, import-export food safety, certification and accreditation, standardization, as well as administrative law-enforcement. AQSIQ is considered the Chinese counterpart to the United States Consumer Product Safety Commission. See The U.S. Consumer Product Safety Commission-AQSIQ Joint Statement on Enhancing Consumer Product Safety dated September 11, 2007, available at http://www.cpsc.gov/cpscpub/prerel/prhtml07/07305.pdf.
The AQSIQ Contract follows an AQSIQ Circular to every quality and technical supervision bureau in all provinces, autonomous regions and municipalities under the control of the Chinese Central Government. The AQSIQ Circular sets out a 5-year AQSIQ National Security/Safety Plan to protect against the illegal production, circulation, and use of certain "special equipment" (the "Plan"). AQSIQ's mission in the Circular is, among other things, to protect public safety from safety accidents and other risks caused by counterfeit and substandard "special equipment." Among the "special equipment" referenced in the AQSIQ Circular are liquefied gas tanks, oxygen tanks, and other pressurized containers and pipes, elevators, lift machinery; and equipment at large recreational facilities and automobile plants.
In its Circular, AQSIQ has explicitly designated our technology and our Chinese joint venture company affiliate as the exclusive technology and technology provider to help AQSIQ develop, implement and administer its National Security/Safety Plan. Under the AQSIQ Circular, TPID Beijing is to help AQSIQ develop national special equipment security identification standards (the "standards"), a special equipment identification information security management system (the "management system"), and a special equipment security/safety logo (the "logo").
As a result of the Circular, AQSIQ has entered into a Project Cooperation Agreement with the Company's Chinese joint venture company affiliate (Contract No. 0076180). ASQIQ subsequently entered into supplementary provisions to the Project Cooperation Agreement in connection with the initial phase of AQSIQ's National Security/Safety Plans relating to liquefied natural gas containers (the "LNG Contract").
Under the LNG Contract, TPID Beijing is to provide and apply a security logo to all LNG containers in China. According to Chinese government statistics, the total number of LNG containers in China is currently over 130 million and is expected to increase in quantity by 10% every year. Under the LNG Contract, TPID Beijing is to receive a fixed taggant price per LNG container. The specific taggant price per LNG container is not being disclosed due to its proprietary nature.
Under the LNG Contract, TPID Beijing is to provide 50,000 units of one of its highly proprietary scanners and 15,000 units of another of its highly proprietary scanners to approximately 20,000 LNG gas stations, 30,000 special equipment manufacturers, and 40,000 "platforms" in China. Under the LNG Contract, TPID Beijing is to receive a fixed price per scanner, with a different fixed price for each type of scanner. The specific price per scanner is not being disclosed due to its proprietary nature.
Finally, under the LNG Contract, TPID Beijing is to establish a security management information system for 50,000 enterprises. Under the LNG Contract, TPID Beijing is to receive a fixed price per enterprise. The specific price per enterprise is not being disclosed due to its proprietary nature. According to
AQSIQ, among such enterprises and platforms include 5,016 enterprises in charge
of manufacturing LNG containers and other pressurized containers, 14,995
enterprises in charge of charging LNG containers, 8,747 enterprises in charge of
manufacturing, installing, reequipping and repairing boilers, and approximately
1,823 institutes in the Chinese state quality inspection system which check LNG
containers.
Since AQSIQ's Circular, Project Cooperation Agreement and LNG Contract, TPID
Beijing and AQSIQ have met and continue to meet on a routine basis to develop,
coordinate, and implement AQSIQ's National Safety/Security Plan and in
particular as the Plan initially pertains to LNG containers. The initial revenue
projections set forth by AQSIQ in the LNG Contract (as corrected to fix a
mathematical miscalculation in the original Chinese version of the LNG Contract)
to mark the 130 million LNG containers (at a fixed price per container), to
provide the 50,000 and 15,000 proprietary scanners (at fixed prices per
scanner), and to develop a security management information system for 50,000
enterprises (at a fixed price per enterprise) total 2,720,000,000 Chinese Yuan,
which equates to over US$362,000,000.
Subsequent (yet ongoing) consultations between AQSIQ and TPID Beijing have
produced the following latest gross revenue projections:
Year Gross Revenue in Chinese Yuan Gross Revenue in US Dollars
(based on www.xe.com exchange rate on
09-27-07 of US$1=0.133094 RMB)
Year 1 801,800,000 106,714,769.20
------------------------------------------- ------------------------------------------- ---------------------------------------
Year 2 1,612,250,000 214,580,801.50
------------------------------------------- ------------------------------------------- ---------------------------------------
Year 3 2,815,770,000 374,762,092.38
------------------------------------------- ------------------------------------------- ---------------------------------------
Year 4 2,686,930,000 357,614,261.42
------------------------------------------- ------------------------------------------- ---------------------------------------
Year 5 2,054,400,000 273,428,313.60
------------------------------------------- ------------------------------------------- ---------------------------------------
TOTAL 9,971,150,000 1,327,100,238.10
------------------------------------------- ------------------------------------------- ---------------------------------------
These revenue projections included not only LNG containers, but also oxygen
tanks, fixed pressure containers, boilers and other items. They were based on
specific unit prices and number of items provided by AQSIQ per year for each of
the five years to mark LNG tanks, fixed pressured containers, tank car and
oxygen space, and boilers. They were based on specific unit prices and number of
items provided by AQSIQ per year for each of the five years for three specific
types of scanners and for automatic marking equipment and intellectual charging
equipment. They were based on specific unit prices and number of items provided
by AQSIQ per year for each of the five years for software sales associated with
system building and client-side software. The number of items were based on
certain Chinese official publications including Special Equipment Statistics
Data Publication of 2005 published on April 7, 2007, the Special Equipment
Statistics Data Publication of 2006 published on June 18, 2007, and Safety
Status White Book of State Special Equipment published in July 2007. These are
all AQSIQ publications. The revenue projections were based on the information in
the following chart:
7
--------------------------------------------------
Time Category Name Number of Units
--------------------------------------------------
The The fee for LNG Container 20 million
first marking the
year special
equipment
--------------------------------------------------
Fixed pressure container 0
--------------------------------------------------
Tank car and Oxygen space 0
--------------------------------------------------
Boiler 0
--------------------------------------------------
Mark for checking gas bottles 0
--------------------------------------------------
Intellectual TPID Scanner 3000
Scanner
--------------------------------------------------
TPID Scanner 200
--------------------------------------------------
TPID Scanner 25000
--------------------------------------------------
Automatic marking equipment 400
--------------------------------------------------
Intellectual charging equipment 10000
--------------------------------------------------
Software System building 3
sales Client-side software 6040
--------------------------------------------------
TOTAL GROSS REVENUE 801,800,000 Chinese Yuan/
US$106,714,769.20
--------------------------------------------------
TIME CATEGORY NAME NUMBER OF UNITS
--------------------------------------------------
THE THE FEE FOR LNG CONTAINER 30 MILLION
SECOND MARKING THE
YEAR SPECIAL
EQUIPMENT
--------------------------------------------------
FIXED PRESSURE CONTAINER 0
--------------------------------------------------
TANK CAR AND OXYGEN SPACE 0
--------------------------------------------------
BOILER 0
--------------------------------------------------
MARK FOR CHECKING LNG CONTAINER 0
--------------------------------------------------
INTELLECTUAL TPID SCANNER 5000
SCANNER
--------------------------------------------------
TPID SCANNER 250
--------------------------------------------------
TPID SCANNER 62500
--------------------------------------------------
AUTOMATIC MARKING EQUIPMENT 500
--------------------------------------------------
INTELLECTUAL CHARGING EQUIPMENT 25000
--------------------------------------------------
SOFTWARE SYSTEM BUILDING 5
SALES CLIENT-SIDE SOFTWARE 15050
--------------------------------------------------
TOTAL GROSS REVENUE 1,612,250,000 CHINESE YUAN/
US$214,580,801.50
--------------------------------------------------
8
--------------------------------------------------
TIME CATEGORY NAME NUMBER OF UNITS
--------------------------------------------------
THE THE FEE FOR LNG CONTAINER 40 MILLION
THIRD MARKING THE
YEAR SPECIAL
EQUIPMENT
--------------------------------------------------
FIXED PRESSURE CONTAINER 1.923 MILLION
--------------------------------------------------
TANK CAR AND OXYGEN SPACE 31 THOUSAND
--------------------------------------------------
BOILER 186 THOUSAND
--------------------------------------------------
MARK FOR CHECKING LNG CONTAINER 0
--------------------------------------------------
INTELLECTUALTPID SCANNER 7000
SCANNER
--------------------------------------------------
TPID SCANNER 150
--------------------------------------------------
TPID SCANNER 125000
--------------------------------------------------
AUTOMATIC MARKING EQUIPMENT 300
--------------------------------------------------
INTELLECTUAL CHARGING EQUIPMENT 50000
--------------------------------------------------
SOFTWARE SYSTEM BUILDING 10
SALES CLIENT-SIDE SOFTWARE 30030
--------------------------------------------------
TOTAL GROSS REVENUE 2,815,770,000 CHINESE YUAN/
US$374,614,261.42
--------------------------------------------------
TIME CATEGORY NAME NUMBER OF UNITS
--------------------------------------------------
THE THE FEE FOR LNG CONTAINER 50 MILLION
FOURTH MARKING THE
YEAR SPECIAL
EQUIPMENT
--------------------------------------------------
FIXED PRESSURE CONTAINER 69 THOUSAND
--------------------------------------------------
TANK CAR AND OXYGEN SPACE 2 THOUSAND
--------------------------------------------------
BOILER 186 THOUSAND
--------------------------------------------------
MARK FOR CHECKING LNG CONTAINER 20MILLION
--------------------------------------------------
INTELLECTUAL TPID SCANNER 0
SCANNER
--------------------------------------------------
TPID SCANNER 1300
--------------------------------------------------
TPID SCANNER 100000
--------------------------------------------------
AUTOMATIC MARKING EQUIPMENT 1300
--------------------------------------------------
INTELLECTUAL CHARGING EQUIPMENT 40000
--------------------------------------------------
SOFTWARE SYSTEM BUILDING 8
SALES CLIENT-SIDE SOFTWARE 25300
--------------------------------------------------
TOTAL GROSS REVENUE 2,686,930,000 CHINESE YUAN/
US$357,614,261.42
--------------------------------------------------
9
--------------------------------------------------
TIME CATEGORY NAME NUMBER OF UNITS
--------------------------------------------------
THE THE FEE FOR GAS BOTTLE 80 MILLION
FIFTH MARKING THE
YEAR SPECIAL
EQUIPMENT
--------------------------------------------------
FIXED PRESSURE CONTAINER 72 THOUSAND
--------------------------------------------------
TANK CAR AND OXYGEN SPACE 2 THOUSAND
--------------------------------------------------
BOILER 186 THOUSAND
--------------------------------------------------
MARK FOR CHECKING GAS BOTTLES 30 MILLION
--------------------------------------------------
INTELLECTUALTPID SCANNER 0
SCANNER
--------------------------------------------------
TPID SCANNER 823
--------------------------------------------------
TPID SCANNER 62375
--------------------------------------------------
AUTOMATIC MARKING EQUIPMENT 823
--------------------------------------------------
INTELLECTUAL CHARGING EQUIPMENT 24950
--------------------------------------------------
SOFTWARE SYSTEM BUILDING 7
SALES CLIENT-SIDE SOFTWARE 15793
--------------------------------------------------
TOTAL GROSS REVENUE 2,054,400,000 CHINESE YUAN/
US$273,428,313.60
Continued consultation and coordination between AQSIQ and TPID Beijing are ongoing and the revenue projections are subject to change and revisions as such coordination and consultation continue.
Under AQSIQ's supplementary provisions and project cooperation agreement, TPID Beijing is to: (a) begin marking LNG containers in the first year and finish marking them in three years; (b) begin marking other fixed pressure containers in the third year and finish marking them in one year; and (c) begin marking boilers in the third year and finish marking them in three years.
Under AQSIQ's Circular and Project Cooperation Agreement, the initial phase of Plan starts LNG containers in the designated pilot areas of Beijing (referenced by AQSIQ as the site of the 2008 Olympics) and Guangdong Province. Beijing, China's capital, has a population of over 14 million. Guangdong Province has a population of over 110 million. To implement the Beijing/Guangdong Pilot Phase, TPID Beijing will use SDNA taggant developed by the Company as well as three types of highly developed scanners developed by the Company. The Company and TPID BJ may supplement its technology with technology from several prominent technology companies in the United States and Europe.
Preliminarily, based on consultations with AQSIQ to date, to begin to implement the Beijing/Guangdong Pilot Phase, TPID Beijing has determined the estimated amount of producing lines, scanners and related software needed; projects that it will initiate manufacture and coordinate the technology team by early November; and projects that the trial work will take approximately six months, at which time it believes that it will have completed the development of the national security logo standard and can begin implementation of the security logo standard throughout China beyond Beijing and Guangdong. Based on consultations with AQSIQ to date, TPID Beijing projects that the expenses associated with the Beijing/Guangdong Pilot Phase will run approximately 15 million Chinese Yuan or approximately US$2 million. As stated above, the latest gross revenue projections for year one of the AQSIQ contract is 801,800,000 Chinese Yuan or US$106,714,769.20, which includes, but is not limited to, the Beijing/Guangdong Pilot Phase.
Regarding technological implementation for the Beijing/Guangdong Pilot Phase, TPID Beijing will utilize scanners developed by the Company. At the same time, TPID Beijing may supplement the Company's technology with technology from several prominent technology companies in the United States and Europe. TPID Beijing will also utilize its SDNA taggant, which may have to be produced outside China.
Regarding funding to implement the Beijing/Guangdong Pilot Phase and beyond, TPID has met with and received significant interest from several prominent and well-funded entities in China with significant government relationships. These entities are not only interested in funding implementation of the entire AQSIQ Contract but are also interested in using TPID's technologies to help anti-counterfeit their own products and the products of other companies or
organizations. TPID has also met with potential funders in and from the U.S., Hong Kong, and other parts of Asia.
Also, in August 2007, our Chinese joint venture affiliate entered into an agreement with the Beijing China Printing & Calligraphy Collector Association to apply taggant information technology to calligraphy and painting artworks and jointly establish the service platform for the authentication management system of the calligraphy and painting artworks in China. The agreement extends until April 12, 2012.
RISK FACTORS: RISKS RELATED TO OPERATING A BUSINESS IN THE PEOPLE'S REPUBLIC OF
CHINA ("PRC")
Joint ventures such as TPID Beijing are subject to general risks of operating in the PRC. These include risks associated with the political and economic environment, foreign currency exchange and the legal system in the PRC. The economy of the PRC differs significantly from the economies of the western industrialized nations in such respects as structure, level of development, growth rate, capital reinvestment, repatriation, resource allocation, self-sufficiency, rate of inflation and balance of payment positions, among others. The PRC government encourages substantial private economic activities, but this has only been the case since the early 1990's. Recent pronouncements in the PRC were enacted to facilitate foreign investment in certain segments of . . .
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7-Nov-2007
Change in Directors or Principal Officers, Other Events, Financial Statemen
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
Effective November 07, 2007, the board of directors appointed William R. Dunavant as the Company's Chief Executive Officer. James MacKay also voluntarily relinquished his position as Chairman of the Board to Mr. Dunavant who was appointed the new Chairman of the Board.
Item 8.01 Other Events
On November 07, 2007 the Board of Directors of the Company voted to effect a 30:1 reverse split of the Company's common stock. This action was then authorized and approved by the holders of a majority of the outstanding common shares of True Product ID Inc. authorized to vote. The Board then passed a resolution to effectuate the rerse split immediately, in accordance with all applicable rules and regulations pertaining thereto.
The corporate actions taken were authorized pursuant to shareholders written consent in accordance with the provisions set forth in Section 228 of the General Corporation Law of the State of Delaware and Article I, Section 7 of the Company's bylaws.
The Board also authorized the change in the Corporation's Principal Executive Offices to 1615 Walnut Street, 3rd Floor, Philadelphia, PA 19103. (215) 972-1601.
On November 07, 2007 the Board of Directors of the Company has also voted to retain Rene Hamouth (Hamouth Family Trust trustee) to consult and assist the Company in market matters. The Company has authorized the issuance of three million (3,000,000) common shares post reverse split of the Company to the Hamouth Family Trust as consideration for consulting the Company regarding market matters.
Item 9.01. Financial Statements, Pro forma Financial Information and Exhibits.
(c) Exhibits
Exhibits Description
99.1 Employment Agreement
True Product ID States Details Previously Reported in Its Form 10-KSB Relating To Projected $1.3 Billion Revenue Gas Tank Contract Signed With The Chinese Government Counterpart To U.S. Consumer Product Safety Commission
Friday November 9, 4:29 pm ET
BEIJING & PHILADELPHIA--(BUSINESS WIRE)--True Product ID, Inc. (OTCBB:TPDI) today stated the following details previously reported in its Form 10-KSB filed October 2, 2007 relating to the agreement which its Chinese joint venture company affiliate, True Product ID Technology (Beijing) Limited ("TPID Beijing"), signed on August 27, 2007 with the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") to develop a national safety/security system for China's liquefied natural gas and other pressurized canisters and other special equipment (Contract No. 0076180):
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As reported in its press release on August 27, 2007, the Company, through its Chinese joint venture affiliate, entered into a contract with the National Quality Inspection Department of the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ"), to develop a national safety/security system for China's liquefied natural gas and other pressurized canisters and other special equipment.
According to its website (www.aqsiq.gov.cn), AQSIQ is a ministerial administrative organ directly under the State Council of the People's Republic of China in charge of national quality, metrology, entry-exit commodity inspection, entry-exit health quarantine, entry-exit animal and plant quarantine, import-export food safety, certification and accreditation, standardization, as well as administrative law-enforcement. AQSIQ is considered the Chinese counterpart to the United States Consumer Product Safety Commission. See The U.S. Consumer Product Safety Commission-AQSIQ Joint Statement on Enhancing Consumer Product Safety dated September 11, 2007, available at http://www.cpsc.gov/cpscpub/prerel/prhtml07/07305.pdf.
The AQSIQ Contract follows an AQSIQ Circular to every quality and technical supervision bureau in all provinces, autonomous regions and municipalities under the control of the Chinese Central Government. The AQSIQ Circular sets out a 5-year AQSIQ National Security/Safety Plan to protect against the illegal production, circulation, and use of certain "special equipment" (the "Plan"). AQSIQ's mission in the Circular is, among other things, to protect public safety from safety accidents and other risks caused by counterfeit and substandard "special equipment." Among the "special equipment" referenced in the AQSIQ Circular are liquefied gas tanks, oxygen tanks, and other pressurized containers and pipes, elevators, lift machinery; and equipment at large recreational facilities and automobile plants.
In its Circular, AQSIQ has explicitly designated our technology and our Chinese joint venture company affiliate as the exclusive technology and technology provider to help AQSIQ develop, implement and administer its National Security/Safety Plan. Under the AQSIQ Circular, TPID Beijing is to help AQSIQ develop national special equipment security identification standards (the "standards"), a special equipment identification information security management system (the "management system"), and a special equipment security/safety logo (the "logo").
As a result of the Circular, AQSIQ has entered into a Project Cooperation Agreement with the Company's Chinese joint venture company affiliate (Contract No. 0076180). ASQIQ subsequently entered into supplementary provisions to the Project Cooperation Agreement in connection with the initial phase of AQSIQ's National Security/Safety Plans relating to liquefied natural gas containers (the "LNG Contract").
Under the LNG Contract, TPID Beijing is to provide and apply a security logo to all LNG containers in China. According to Chinese government statistics, the total number of LNG containers in China is currently over 130 million and is expected to increase in quantity by 10% every year. Under the LNG Contract, TPID Beijing is to receive a fixed taggant price per LNG container. The specific taggant price per LNG container is not being disclosed due to its proprietary nature.
Under the LNG Contract, TPID Beijing is to provide 50,000 units of one of its highly proprietary scanners and 15,000 units of another of its highly proprietary scanners to approximately 20,000 LNG gas stations, 30,000 special equipment manufacturers, and 40,000 "platforms" in China. Under the LNG Contract, TPID Beijing is to receive a fixed price per scanner, with a different fixed price for each type of scanner. The specific price per scanner is not being disclosed due to its proprietary nature.
Finally, under the LNG Contract, TPID Beijing is to establish a security management information system for 50,000 enterprises. Under the LNG Contract, TPID Beijing is to receive a fixed price per enterprise. The specific price per enterprise is not being disclosed due to its proprietary nature. According to AQSIQ, among such enterprises and platforms include 5,016 enterprises in charge of manufacturing LNG containers and other pressurized containers, 14,995 enterprises in charge of charging LNG containers, 8,747 enterprises in charge of manufacturing, installing, reequipping and repairing boilers, and approximately 1,823 institutes in the Chinese state quality inspection system which check LNG containers.
Since AQSIQ's Circular, Project Cooperation Agreement and LNG Contract, TPID Beijing and AQSIQ have met and continue to meet on a routine basis to develop, coordinate, and implement AQSIQ's National Safety/Security Plan and in particular as the Plan initially pertains to LNG containers. The initial revenue projections set forth by AQSIQ in the LNG Contract (as corrected to fix a mathematical miscalculation in the original Chinese version of the LNG Contract) to mark the 130 million LNG containers (at a fixed price per container), to provide the 50,000 and 15,000 proprietary scanners (at fixed prices per scanner), and to develop a security management information system for 50,000 enterprises (at a fixed price per enterprise) total 2,720,000,000 Chinese Yuan, which equates to over US$362,000,000.
Subsequent (yet ongoing) consultations between AQSIQ and TPID Beijing have produced the following latest gross revenue projections:
Year Gross Revenue in Chinese Yuan
Gross Revenue in US Dollars
(based on www.xe.com
exchange rate on
09-27-07 of US$1=0.133094
RMB)*
§
Year 1 801,800,000 106,714,769.20
Year 2 1,612,250,000 214,580,801.50
Year 3 2,815,770,000 374,762,092.38
Year 4 2,686,930,000 357,614,261.42
Year 5 2,054,400,000 273,428,313.60
TOTAL 9,971,150,000 1,327,100,238.10
These revenue projections included not only LNG containers, but also oxygen tanks, fixed pressure containers, boilers and other items. They were based on specific unit prices and number of items provided by AQSIQ per year for each of the five years to mark LNG tanks, fixed pressured containers, tank car and oxygen space, and boilers. They were based on specific unit prices and number of items provided by AQSIQ per year for each of the five years for three specific types of scanners and for automatic marking equipment and intellectual charging equipment. They were based on specific unit prices and number of items provided by AQSIQ per year for each of the five years for software sales associated with system building and client-side software. The number of items were based on certain Chinese official publications including Special Equipment Statistics Data Publication of 2005 published on April 7, 2007, the Special Equipment Statistics Data Publication of 2006 published on June 18, 2007, and Safety Status White Book of State Special Equipment published in July 2007. These are all AQSIQ publications. The revenue projections were based on the information in the following chart:
Time Category Name Number of Units
The
first
year The fee for
marking the
special
equipment LNG Container 20 million
Fixed pressure container 0
Tank car and Oxygen space 0
Boiler 0
Mark for checking gas bottles 0
Intellectual
Scanner TPID Scanner 3000
TPID Scanner 200
TPID Scanner 25000
Automatic marking equipment 400
Intellectual charging equipment 10000
§
Software
sales
§ System building 3
§Client-side software 6040
TOTAL GROSS REVENUE
§ 801,800,000 Chinese Yuan/
US$106,714,769.20
TIME CATEGORY NAME NUMBER OF UNITS
THE
SECOND
YEAR THE FEE FOR
MARKING THE
SPECIAL
EQUIPMENT LNG CONTAINER 30 MILLION
FIXED PRESSURE CONTAINER 0
TANK CAR AND OXYGEN SPACE 0
BOILER 0
MARK FOR CHECKING LNG CONTAINER 0
INTELLECTUAL
SCANNER
§ TPID SCANNER 5000
TPID SCANNER 250
TPID SCANNER 62500
AUTOMATIC MARKING EQUIPMENT 500
INTELLECTUAL CHARGING EQUIPMENT 25000
§
SOFTWARE
SALES
§ SYSTEM BUILDING 5
§CLIENT-SIDE SOFTWARE 15050
TOTAL GROSS REVENUE
1,612,250,000 CHINESE YUAN/
US$214,580,801.50
TIME CATEGORY NAME NUMBER OF UNITS
THE
THIRD
YEAR THE FEE FOR
MARKING THE
SPECIAL
EQUIPMENT LNG CONTAINER 40 MILLION
FIXED PRESSURE CONTAINER 1.923 MILLION
TANK CAR AND OXYGEN SPACE 31 THOUSAND
BOILER 186 THOUSAND
MARK FOR CHECKING LNG CONTAINER 0
INTELLECTUAL
SCANNER TPID SCANNER
7000
TPID SCANNER 150
TPID SCANNER 125000
AUTOMATIC MARKING EQUIPMENT 300
INTELLECTUAL CHARGING EQUIPMENT 50000
§
SOFTWARE
SALES
§ SYSTEM BUILDING 10
§CLIENT-SIDE SOFTWARE 30030
TOTAL GROSS REVENUE
2,815,770,000 CHINESE YUAN/
US$374,614,261.42
TIME CATEGORY NAME NUMBER OF UNITS
THE
FOURTH
YEAR THE FEE FOR
MARKING THE
SPECIAL
EQUIPMENT LNG CONTAINER 50 MILLION
FIXED PRESSURE CONTAINER 69 THOUSAND
TANK CAR AND OXYGEN SPACE 2 THOUSAND
BOILER 186 THOUSAND
MARK FOR CHECKING LNG CONTAINER
20 MILLION
INTELLECTUAL
SCANNER TPID SCANNER 0
TPID SCANNER 1300
TPID SCANNER 100000
AUTOMATIC MARKING EQUIPMENT 1300
INTELLECTUAL CHARGING EQUIPMENT 40000
§
SOFTWARE
SALES
§ SYSTEM BUILDING 8
§CLIENT-SIDE SOFTWARE 25300
TOTAL GROSS REVENUE 2,686,930,000 CHINESE YUAN/
US$357,614,261.42
TIME CATEGORY NAME NUMBER OF UNITS
THE
FIFTH
YEAR THE FEE FOR
MARKING THE
SPECIAL
EQUIPMENT GAS BOTTLE 80 MILLION
FIXED PRESSURE CONTAINER 72 THOUSAND
TANK CAR AND OXYGEN SPACE 2 THOUSAND
BOILER 186 THOUSAND
MARK FOR CHECKING GAS BOTTLES 30 MILLION
INTELLECTUAL
SCANNER TPID SCANNER 0
TPID SCANNER 823
TPID SCANNER 62375
AUTOMATIC MARKING EQUIPMENT 823
INTELLECTUAL CHARGING EQUIPMENT 24950
§
SOFTWARE
SALES
§ SYSTEM BUILDING 7
§CLIENT-SIDE SOFTWARE 15793
TOTAL GROSS REVENUE
2,054,400,000 CHINESE YUAN/
US$273,428,313.60
Continued consultation and coordination between AQSIQ and TPID Beijing are ongoing and the revenue projections are subject to change and revisions as such coordination and consultation continue.
Under AQSIQ's supplementary provisions and project cooperation agreement, TPID Beijing is to: (a) begin marking LNG containers in the first year and finish marking them in three years; (b) begin marking other fixed pressure containers in the third year and finish marking them in one year; and (c) begin marking boilers in the third year and finish marking them in three years.
Under AQSIQ's Circular and Project Cooperation Agreement, the initial phase of Plan starts LNG containers in the designated pilot areas of Beijing (referenced by AQSIQ as the site of the 2008 Olympics) and Guangdong Province. Beijing, China's capital, has a population of over 14 million. Guangdong Province has a population of over 110 million. To implement the Beijing/Guangdong Pilot Phase, TPID Beijing will use SDNA taggant developed by the Company as well as three types of highly developed scanners developed by the Company. The Company and TPID BJ may supplement its technology with technology from several prominent technology companies in the United States and Europe.
Preliminarily, based on consultations with AQSIQ to date, to begin to implement the Beijing/Guangdong Pilot Phase, TPID Beijing has determined the estimated amount of producing lines, scanners and related software needed; projects that it will initiate manufacture and coordinate the technology team by early November; and projects that the trial work will take approximately six months, at which time it believes that it will have completed the development of the national security logo standard and can begin implementation of the security logo standard throughout China beyond Beijing and Guangdong. Based on consultations with AQSIQ to date, TPID Beijing projects that the expenses associated with the Beijing/Guangdong Pilot Phase will run approximately 15 million Chinese Yuan or approximately US$2 million. As stated above, the latest gross revenue projections for year one of the AQSIQ contract is 801,800,000 Chinese Yuan or US$106,714,769.20, which includes, but is not limited to, the Beijing/Guangdong Pilot Phase.
Regarding technological implementation for the Beijing/Guangdong Pilot Phase, TPID Beijing will utilize scanners developed by the Company. At the same time, TPID Beijing may supplement the Company's technology with technology from several prominent technology companies in the United States and Europe. TPID Beijing will also utilize its SDNA taggant, which may have to be produced outside China.
Regarding funding to implement the Beijing/Guangdong Pilot Phase and beyond, TPID has met with and received significant interest from several prominent and well-funded entities in China with significant government relationships. These entities are not only interested in funding implementation of the entire AQSIQ Contract but are also interested in using TPID's technologies to help anti-counterfeit their own products and the products of other companies or organizations. TPID has also met with potential funders in and from the U.S., Hong Kong, and other parts of Asia.
*Note that there was an inadvertent error regarding the stated conversion rate in the heading in the gross revenue chart. The conversion rate should read 1 Chinese Yuan = 0.133094 US$1.
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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 about True Product ID, Inc., go to http://www.tpid.net. For more information about True Product ID Technology (Beijing) Limited, go to http://www.trueproductid.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. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Contact:
True Product ID, Inc.
Michael Antonoplos, 610-608-9300
mantonoplos@tpid.net
Source: True Product ID, Inc.