SSTY Announces Plans for New Venture with Affiliate of China's Ministry of Industry and Commerce; Venture to Have Ability to Pol
25 Januar 2006 - 5:03PM
PR Newswire (US)
BEIJING and PHILADELPHIA, Jan. 25 /PRNewswire-FirstCall/ -- Sure
Trace Security Corporation (OTC:SSTY) announced that its joint
venture partner, True Product ID Technology (Beijing) Limited
("TPiD"), a joint venture of its 85% subsidiary, True Product ID
Technology Limited, and Beijing Suneray Zexin Technology Limited
has signed a cooperation agreement with China Consumer Journal,
which is a subsidiary company of the Ministry of Industry and
Commerce. SSTY provides proprietary solutions for loss prevention
and anti- counterfeiting purposes. On November 24, 2005, it
announced that the joint venture had signed a service agreement
with The National Brand Cartel Anti- Counterfeit Cooperation
Network -- Brand315.com, to deliver the True Product ID
anti-counterfeiting technology. With the addition of the
cooperation agreement, TPiD can now not only mark products but can
ensure the proper use of the technology in its utilization and
assist in conducting its enforcement in the field ... across the
entire spectrum of products and goods that are tagged. This
enforcement workforce will monitor all the items tagged through
every contract that TPiD enters into across the country. Within
China, the Ministry of Industry and Commerce is one of the
Government or civil agencies charged with the responsibility to
provide field authentication of consumer products. Through the
co-operation with the China Consumer Journal which also produces
anti-counterfeiting labels similar to Brand315 (see November 14,
2004 PR), TPiD will work with the Ministry of Industry and Commerce
to provide them with SSTY's scanning and KMACK technologies.
Chairman Mr. James MacKay, who has personally spearheaded SSTY's
efforts in China for the past year, stated, "I am always pleased to
see forward progress and believe that we are seeing only the
beginning of a series of contracts in China. Based on the magnitude
of exports from China to the rest of the world we are getting
tremendous response from importers in both North America and
Europe." SSTY has this week kicked off its initial drive to
establish a sales force in North America with end user and
cooperative reseller and/or marketing partnership meetings taking
place in Philadelphia and Chicago. As a matter of policy, SSTY
generally does not disclose specific valuation and volume
information concerning individual contracts, unless such disclosure
is required by applicable law. SSTY believes that keeping such
information confidential is beneficial to client development. 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. First Call Analyst: FCMN
Contact: michaelc@suretrace.com DATASOURCE: Sure Trace Security
Corporation CONTACT: Michael Cimino, President, Sure Trace Security
Corporation, +1-215-972-6999, Web site: http://www.suretrace.com/
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