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In the same press release, Mr. Cimino said "this is a promising deal for the shareholders of Sure Trace. We have formed a joint venture with a major gatekeeper for the Chinese government, for the introduction of the types of technologies that we provide. In effect, the door to China is wide open to us. While others may still be just knocking at the door, the Chinese government itself, through Suneray, has already invited us in. That gives us a strong competitive advantage especially given that we have successfully completed the demonstration stage of the process."
" We have formed a joint venture with a major gatekeeper for the Chinese government" For the Chinese government means to me that Suneray is part owned and controlled by the Chinese government. Remember China is a communist country and unlike the U.S. can and do own for profit businesses.
What are your thoughts?
Queston for the board. In the press release dated June 17th, 2005 it states that Suneray, incorporated in Beijing, china is legally authorized by Peoples Republicc of China as an (agent) for the organization and implementation of the Unified coding Rules for Products and Services, a compulsory national standard of the Peoples Republic of China.
If Suneray was incorporated in Beijing and it's sole purpose is to act as agent. Is Suneray acting as agent for the Peoples Republic of China to implement these standards? If that is the case wouldn't Suneray be somewhat of a quasi-government organization?
It is also stated in the first paragraph of the June 17th press release that the joint venture will share the costs and profits on a 50/50 basis. If Suneray is a quasi-government organization, does this mean that the Chinese Government is paying 50% of the joint venture cost?
I am starting to work on part three of my ssty project. I have run into a few snags in regards to company ownership of our Chinese subsidiaries. I wil post some of my notes and thoughts. Can anyone clarify who owns the 15% portion of TPID Tech Limited (Beijing) and who actually owns Suneray our 50/50 joint venture partner in TPID (Beijing)?
Ssty notes
Company Structure
Sure Trace Security Corporation (USA)
Sure Trace Asia, a wholly owned subsidiary of Sure Trace USA, (STA) 85% owned by SSTY-USA 15% owned by William Chan
Beijing Suneray Communication Co. Ltd. Now Beijing Suneray Zexin Technology Limited - (Suneray) Incorporated in Beijing, china is legally authorized by the Peoples Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the Peoples Republic of China. Suneray owns an exclusive relationship and 50/50 joint venture agreement and will share the costs and profits of Sure Trace Asia on a 50/50 basis. Suneray will own 50% of Sure Trace USA’s 85% ownership in Sure Trace Asia or simply 42% of Sure Trace Asia.
SSTY Asia (STA) together with it’s joint venture partner Suneray have determined the new name for it’s technology is True Product ID. In a press release dated October 18th 2005 SSTY announced that it’s Chinese operating subsidiary, True Product ID Technology Limited, formerly Sure Trace Asia Limited has on October 4th, 2005 signed an agreement with Gary Metzger, President of Amco Plastic Materials Inc. In the same press release they state that Gary Metzger will also sit on the Advisory Board for both True Product ID Technology Limited and True Product ID Technology (Beijing), formerly Sure Trace (Beijing).
( So is Sure Trace Asia (STA) now True Product ID Technology Limited (Beijing) ?
So we have Sure Trace USA owns 100% of operations outside China and owns 85% of it’s wholly owned Chinese subsidiary now named True Product ID Technology Limited (Beijing), I am guessing that William Chan President and CEO of TPID Tech Ltd (Beijing) owns the other 15%. Then TPID Tech Ltd (Beijing) has a 50/50 joint venture agreement with Suneray Zexin Technology Limited - (Suneray) Incorporated in Beijing, china is legally authorized by the Peoples Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the Peoples Republic of China.
( question – who owns Suneray ) Mr Li Ning is referred to as General Manager in one press release dated August 17th 2005 then is referred to as President in a press release dated September 8th 2005.
( Question) To make it simple, I am guessing that Mr. Li Ning owns 100% of Suneray which then owns 50% of 85% of Sure Trace (USA) interest in TPID Tech Ltd (Beijing) or lets say Suneray and Sure Trace (USA) own 42.5 % each in TPID Tech Ltd (Beijing) and I am still guessing thatWilliam Chan owns the other 15%.
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Alleged Counterfeit Entities (Suspects)
Country Suspect Entity Counterfeit Classification
Afghanistan Insaaf Rasuli Tourism Company Identification
Algeria ALCO Perfume & Cosmetics
Armenia Reco Records Entertainment & Software
Australia Archie's Hub Entertainment & Software
Australia Cellnet Electronic Equip. & Supplies
Australia Cross Link Marketing Group (CMG) Pty Ltd Entertainment & Software
Australia Housewares International Other Goods
Australia Magic Computers Entertainment & Software
Australia PC Club Australia Entertainment & Software
Australia Sheldon & Hammond Other Goods
Australia Swiftel Communications Entertainment & Software
Bangladesh Ashraf Food Industries Drugs & Medical
Bangladesh Dhaka Food Industries Drugs & Medical
Bangladesh Islami Pharmaceuticals Perfume & Cosmetics
Bangladesh JCD Identification
Bangladesh National Digital Printing Press. Financial Instruments
Bangladesh Sheikh Distribution and Company Drugs & Medical
Barbados Infinity Video Entertainment & Software
Belgium Que Hong Food & Alcohol
Belgium Vietfood Handel GmbH (Germany) Food & Alcohol
Bulgaria www.wonderdealing.com Financial Instruments
Cameroon Magic Touch Entertainment & Software
Canada Agincourt Auto Glass Other Documents & Packaging
Canada CANA IMPORT EXPORT LTD. Electronic Equip. & Supplies
Canada Cy International Co. Clothing & Accessories
Canada Direct Compounding Ltd. Drugs & Medical
Canada Ensminger, Beck, Thompson Entertainment & Software
Canada ESD Fisheries Ltd. Other Documents & Packaging
Canada Global Vehicle Systems Inc. Entertainment & Software
Canada Hi Tech Auto Repairs and Collision Other Documents & Packaging
Canada Hi-Tech Gaming Electronic Equip. & Supplies
Canada IP Marketing Entertainment & Software
Canada Keen Engineering Entertainment & Software
Canada King West Pharmacy Drugs & Medical
Canada Labtronix Entertainment & Software
Canada MEP Technologies Inc. Entertainment & Software
Canada Oberfeld Snowcap Inc. Entertainment & Software
Canada Optima Analyse de marché Entertainment & Software
Canada Optimum Compounding Pharmacy Ltd. Drugs & Medical
Canada Planet-Rom.com Other Documents & Packaging
Canada Raeco Industries Ltd Other Documents & Packaging
Canada San Francisco Gifts Ltd. Other Documents & Packaging
Canada Soul Flexx Fashions Entertainment & Software
Canada Tehran Express Auto Other Documents & Packaging
Canada Time House Entertainment & Software
Canada Universal Systems Ltd. Entertainment & Software
China Beijing Metals and Minerals Import and Export Co Clothing & Accessories
China Beijing Zhongxinlian Co Entertainment & Software
China Beijing Zhongxinlian Digital Technology Share Holding Company Entertainment & Software
China Cashbox Entertainment & Software
China Chengdu Hanxiang Culture Digital Technology Entertainment & Software
China Computronics International Perfume & Cosmetics
China Golden Science Technology Limited Entertainment & Software
China Hebei Xinkai Automobile Manufacturing Other Goods
China Holiday Entertainment & Software
China Hualian General Merchandise Supermarket Other Goods
China Hymall Supermarket Other Goods
China Jieyang Kentong Automobile Glass Factory Industrial Goods & Supplies
China Jilin pharmacy Co.ltd Other Documents & Packaging
China Jinwuxing Market Other Goods
China Leader Entertainment & Software
China made-in-china.com Clothing & Accessories
China Padova Karaoke Bar Entertainment & Software
China Qilin Musical KTV City Entertainment & Software
China Shijiazhuang Shuanghuan Automobile Other Goods
China Tianjin Folk Disk Company Entertainment & Software
China Tianjin Minzu Disc Co Entertainment & Software
China up.3w3w3w.com Entertainment & Software
China Wenyihang Trade Co Ltd Other Goods
China Wuxi Honeywell Precision Manufacture Co Ltd. Other Goods
China www.yeguiren.com Entertainment & Software
China Xidan Shopping Centre Other Goods
Czech Republic Ottovo publishing Other Documents & Packaging
Denmark Danks Supermarked Clothing & Accessories
Denmark Netto Clothing & Accessories
Georgia LLC Evropa+ Other Documents & Packaging
Germany al Qaeda Identification
Germany Al Tawhid Identification
Germany Ansar al-Islam Identification
Germany Flatline (FTL) Entertainment & Software
Germany Hungary Financial Instruments
Germany Shanghai Winsun Imp & Exp Co Ltd Toys
Germany Zhejiang Shenmao Appliance Co. Ltd Toys
Guam Lin's Jewelry Clothing & Accessories
India Ajay Video Entertainment & Software
India Aman CD House Entertainment & Software
India Amin Printers Other Documents & Packaging
India Anand Auto Dealers Industrial Goods & Supplies
India Ashok Electronics Entertainment & Software
India Atlas Soft Entertainment & Software
India Balaji Enterprises Computer Equip. & Supplies
India Bhagwati Stationers Computer Equip. & Supplies
India Bharat Glass Industrial Goods & Supplies
India Bloom Electronics Entertainment & Software
India Book Palace Other Documents & Packaging
India Calcutta Digital Printers Financial Instruments
India Ceylon Biscuits India Private Limited Food & Alcohol
India Chani Music Centre Entertainment & Software
India Charlie Video Entertainment & Software
India Chetana Stationery Stores Computer Equip. & Supplies
India Compton Computers Entertainment & Software
India Computer Inn Computer Equip. & Supplies
India Covai Pumps Industries Industrial Goods & Supplies
India Dawood Ibrahim Financial Instruments
India Deluxe Suiting Shirting Industrial Goods & Supplies
India Descent Video Entertainment & Software
India Dew Healthcare Drugs & Medical
India Digital Video Library Entertainment & Software
India Dutt & Dutt Associates Entertainment & Software
India Dyptronics Entertainment & Software
India Eastlink International, Inc. Financial Instruments
India Eros CD Center Entertainment & Software
India Faith Clothing & Accessories
India Furzan Financial Instruments
India Ganesh Hardware Industrial Goods & Supplies
India Geeta Offset Printing Press Other Documents & Packaging
India Gurudeva Offset Printing Press Other Documents & Packaging
India Helix Online Entertainment & Software
India Henkish Chemical Drugs & Medical
India Hitu Graphics Other Documents & Packaging
India Hizbul Mujahideen Identification
India Hong Pang Company Entertainment & Software
India India-Pacific Employment Centre Identification
India Intermed 4GK Drugs & Medical
India International Academy Other Documents & Packaging
India ISI Financial Instruments
India Jai Shakti Video Entertainment & Software
India Jenifar Garments Clothing & Accessories
India Johar Auto Repairs Industrial Goods & Supplies
India Kamala Overseas Bombay Drugs & Medical
India Kamrup Hardware Industrial Goods & Supplies
India Kashmir Liberation Front (JKLF) Financial Instruments
India Kaushal Enterprises Clothing & Accessories
India Kinglax Fire Safety Equipments Industrial Goods & Supplies
India Lekha Printers Financial Instruments
India M/S Asean Computers Identification
India M/s Dyptronics Entertainment & Software
India M/s Kunal Octroi Services Other Documents & Packaging
India M/s Mahesh Engineers Industrial Goods & Supplies
India M/s Shakti Tukoba Industries Food & Alcohol
India M/s. M Electronics Electronic Equip. & Supplies
India Maha Shakti Enterprises Other Documents & Packaging
India Mahadev Video Entertainment & Software
India Merit Organics Drugs & Medical
India Milan Laboratories Drugs & Medical
India Mission Pharmaceutical Drugs & Medical
India Mohan Book Binding House Other Documents & Packaging
India Movie Town Entertainment & Software
India MovieTown Library Entertainment & Software
India Multi Star Electricals Industrial Goods & Supplies
India Music Front Entertainment & Software
India NeoLogik Entertainment & Software
India New Star Enterprises Clothing & Accessories
India Nice Printer Clothing & Accessories
India Nikita Video Entertainment & Software
India Novelty Stationery Computer Equip. & Supplies
India Pakistan Inter Service Intelligence Financial Instruments
India Pankaj Video Entertainment & Software
India Pliva Pakistan Drugs & Medical
India Prabhat Traders Wholesale Supermarke Drugs & Medical
India Pratham video parlour Entertainment & Software
India Rajendra Yadav Other Documents & Packaging
India Ravi Kumar Agency Computer Equip. & Supplies
India Readymades Entertainment & Software
India Rohini Screen Printers Financial Instruments
India Sai Video Entertainment & Software
India SAM Computronics Entertainment & Software
India Samir Gupta Associates Entertainment & Software
India Sandeep Trading Company Industrial Goods & Supplies
India Shalimar Sanitation Industries Industrial Goods & Supplies
India Shift Info Byte Electronic Equip. & Supplies
India Shreechem Pharmaceuticals Drugs & Medical
India Sidhi Polymer Industrial Goods & Supplies
India Sindhur Electricals Industrial Goods & Supplies
India Singla Traders Electronic Equip. & Supplies
India Srinivasa Videos Entertainment & Software
India Star Guidance Centre Other Documents & Packaging
India Success Enterprise Industrial Goods & Supplies
India Suman Electrical Electronic Equip. & Supplies
India Super Shakti Industries Industrial Goods & Supplies
India T M Printers Clothing & Accessories
India Terraqueen distillery Food & Alcohol
India Tilak Gali Industrial Goods & Supplies
India Tirupati Hardware Industrial Goods & Supplies
India Tribeni Industries Pvt. Ltd. Industrial Goods & Supplies
India Unibios Lab Drugs & Medical
India United Offset Printers Other Documents & Packaging
India Vaishali Screen Printer Clothing & Accessories
India Vardha Industries Industrial Goods & Supplies
India Vardhman Export A-188 TTC Drugs & Medical
India VCD Plaza Entertainment & Software
India Video Vision Entertainment & Software
India Video-22 Entertainment & Software
India Vijaya Paints Industrial Goods & Supplies
India Wardex Pharm Drugs & Medical
India Yashaswi Screen Printers Other Documents & Packaging
India ZYG Pharma Pvt. Ltd. Drugs & Medical
Indonesia PT Medialine Entertainment & Software
Indonesia TokoDVD.com Entertainment & Software
Indonesia www.DVDclubhouse.net Entertainment & Software
Iraq Al-Tahir Cigarettes & Tobacco Products
Iraq Dolphin Foreign Trade Limited Corporation Cigarettes & Tobacco Products
Iraq Fader Foreign Trade Cigarettes & Tobacco Products
Iraq Golden Universal Inc. Cigarettes & Tobacco Products
Iraq Kany Company Cigarettes & Tobacco Products
Iraq Sunset Advisor, Inc. Cigarettes & Tobacco Products
Ireland Hard Data Entertainment & Software
Ireland Sundrelle Limited Drugs & Medical
Israel Applecar Entertainment & Software
Israel PLO Other Documents & Packaging
Italy Blue Service Industrial Goods & Supplies
Italy Via Montenapoleone Clothing & Accessories
Jamaica Ammars Clothing & Accessories
Jamaica Explorers Computer and Sales Service Entertainment & Software
Jamaica Explorers Computer Sales and Service Entertainment & Software
Japan Inagawa-kai Financial Instruments
Japan Sanbonsugi-ikka Financial Instruments
Japan Yamaguchi-gumi Financial Instruments
Kenya Virash Rayshi Cash and Carry Wholesalers Food & Alcohol
Latvia DVD Centrs Entertainment & Software
Latvia RZM Printing Financial Instruments
Malaysia MasterSurf Entertainment & Software
Malta CMA-CGM Clothing & Accessories
New Zealand Home Shop Ltd Clothing & Accessories
Nigeria Akina Entertainment & Software
Nigeria Biochemical Industries Ltd Drugs & Medical
Nigeria Cromwell Pharmaceutical and Chemical Company Limited Drugs & Medical
Nigeria Kwangwang Nigeria Limited Entertainment & Software
Nigeria Shadraks Pharmacy Drugs & Medical
Pakistan AFZ Pharma Drugs & Medical
Pakistan Almas Pharma Drugs & Medical
Pakistan Amin’s aka Sons Entertainment & Software
Pakistan Bilour Ghee Mills Food & Alcohol
Pakistan BS Magnetic aka ASAHI Entertainment & Software
Pakistan D S Magnetic Entertainment & Software
Pakistan Disc Tech Entertainment & Software
Pakistan Disctech Media Private Limited Entertainment & Software
Pakistan DTSTECH Media Entertainment & Software
Pakistan Humayun Printers Other Documents & Packaging
Pakistan M/s Amin Entertainment & Software
Pakistan M/s Worldwide Plastic Industries Entertainment & Software
Pakistan Multimedia Entertainment & Software
Pakistan Multimedia (Pvt) Limited Entertainment & Software
Pakistan Multimedia Manufacturers aka Digital Entertainment & Software
Pakistan Pakistan Music Corporation Entertainment & Software
Pakistan Perfect Engineering Works Entertainment & Software
Pakistan Suleman & Co Entertainment & Software
Pakistan Sunbeam Corporation Entertainment & Software
Pakistan Tawakkal Plastic Works Entertainment & Software
Pakistan United Corporation Entertainment & Software
Philippines Anbie's General Merchandise Clothing & Accessories
Philippines Banilad Auto Parts Other Documents & Packaging
Philippines BCV South Distributions Food & Alcohol
Philippines Beauty Alert Manner General Merchandise Perfume & Cosmetics
Philippines Blue Sunrise Toy Shoppe Toys
Philippines Bright Futures Technology Inc. Entertainment & Software
Philippines C.M. Pancho Construction Inc. Entertainment & Software
Philippines Cebu TAP Marketing Electronic Equip. & Supplies
Philippines Clifton International Trading Drugs & Medical
Philippines Computer & Options Entertainment & Software
Philippines D & P Swed-Phil Internet Café Entertainment & Software
Philippines DATEM Construction/ DATEM Inc. Entertainment & Software
Philippines Destiny Cable Inc. Entertainment & Software
Philippines DMI Medical Supplies Drugs & Medical
Philippines Dynamic Ultra Tech Entertainment & Software
Philippines El Sandi Grocery Food & Alcohol
Philippines Federal Land Inc. Entertainment & Software
Philippines Fieldmaster Agro and Industrial Entertainment & Software
Philippines Foreitrans Manufacturing Corp Cigarettes & Tobacco Products
Philippines Four Seasons Electronic Equip. & Supplies
Philippines Gamelandia Gaming Enterprises Entertainment & Software
Philippines Great Lakes Computer Center Entertainment & Software
Philippines Green Lakes Computer Center Entertainment & Software
Philippines Grow Grow Boutique House Perfume & Cosmetics
Philippines Hikotec or Tayo Homes Appliances Entertainment & Software
Philippines Jialong Enterprises Electronic Equip. & Supplies
Philippines Jialong Enterprises Warehouse Electronic Equip. & Supplies
Philippines L-Mer Marketing’s Christopher Mini Mart Food & Alcohol
Philippines Lora Multi-Resources Other Documents & Packaging
Philippines Lucas Store/Lucas Grocery Food & Alcohol
Philippines Lumar Pharmaceutical Laboratories Drugs & Medical
Philippines Mac Tycoon Marketing Drugs & Medical
Philippines Maguindanao Skycable Entertainment & Software
Philippines Medina Surgical Enterprises Drugs & Medical
Philippines Mmastar Collection Clothing & Accessories
Philippines Multi Fashion Manufacturing Corp. Clothing & Accessories
Philippines New Ultra Parts Inc. Entertainment & Software
Philippines NFF Industrial Corporation Entertainment & Software
Philippines Pathland Development Corporation Entertainment & Software
Philippines PC-911 Sales and Service Entertainment & Software
Philippines PDR Technology Asia Inc. Entertainment & Software
Philippines Philips School Supplies & General Merchandise Food & Alcohol
Philippines Pyramid Detailing Services Inc. Entertainment & Software
Philippines R & R Enterprises Clothing & Accessories
Philippines R. Medina Enterprises Drugs & Medical
Philippines Save on Surplus Entertainment & Software
Philippines Silver J Trading Electronic Equip. & Supplies
Philippines Skolpad Internet Café Entertainment & Software
Philippines Sonic Steel Corp. Industrial Goods & Supplies
Philippines Sonic Steel Industries Inc. Industrial Goods & Supplies
Philippines Step One Property Builders Inc. Entertainment & Software
Philippines Straight A Marketing Electronic Equip. & Supplies
Philippines Straight A Marketing Branch Electronic Equip. & Supplies
Philippines Super Ace Marketing Corp. Entertainment & Software
Philippines Taisan Commercial Industrial Goods & Supplies
Philippines TaTay Cable TV Entertainment & Software
Philippines Tayuman Medical Supplies Drugs & Medical
Philippines Technosoft Computer Center Entertainment & Software
Philippines Telmarc Cable Company Entertainment & Software
Philippines Unian Marketing Electronic Equip. & Supplies
Philippines Unitop General Merchandise Co. Electronic Equip. & Supplies
Philippines Unitop Marketing Electronic Equip. & Supplies
Philippines V.O. Garments Clothing & Accessories
Philippines Wamao Toy Toys
Philippines Wireless Technology Solutions Inc. Entertainment & Software
Philippines World Reach Internet Café Entertainment & Software
Philippines Zamboanga Winner Trading Entertainment & Software
Philippines Z-Energy CATV Network Entertainment & Software
Russia Eurose Entertainment & Software
Russia Konka Entertainment & Software
Russia Kuban Airlines Entertainment & Software
Russia library lib.ru Other Documents & Packaging
Russia Marina Roshcha Food Centre Industrial Goods & Supplies
Russia OfficeScape International (published by "Building", March 11, 2005) Industrial Goods & Supplies
Russia Russobit-soft Entertainment & Software
Saudi Arabia Al-Qaeda Identification
Singapore Eastgate Technology Ltd. Entertainment & Software
South Africa City Wholesalers Clothing & Accessories
South Africa Jingte Import and Export Trading CC Clothing & Accessories
South Korea Hana Bank Entertainment & Software
Spain al-Qaida Identification
Spain ETA Identification
Sri Lanka Torana Video Entertainment & Software
Sweden BlueCrap Entertainment & Software
Taiwan Kuro Entertainment & Software
Thailand Autotrim International Transaction Co Ltd Industrial Goods & Supplies
Thailand Jemaah Islamiyah Identification
Turkey Rixos Food & Alcohol
Uganda Baco and Bato Clothing & Accessories
Uganda M/s KOTS (U) Ltd Other Goods
Uganda Mario Ddembe Printers Other Documents & Packaging
Uganda Polar Pharma India Limited Other Goods
Uganda Radium Pharmaceuticals Limited Drugs & Medical
Uganda Tororo Cement Ltd. Industrial Goods & Supplies
Uganda X-Zone International Secretarial Financial Instruments
UK Alami International Limited Clothing & Accessories
UK Atop Electronics HQ Electronic Equip. & Supplies
UK Band of Gold Jewelry & Watches
UK Bobby Ann Clothing & Accessories
UK Bollywood Music (UK) Ltd Entertainment & Software
UK Brand Search International Ltd Clothing & Accessories
UK Cellar Scene Clothing & Accessories
UK Chery Other Goods
UK China Daily Other Goods
UK Design Inc. (International) Ltd Clothing & Accessories
UK Discount Gold and Silver Jewelry & Watches
UK Diva Clothing Clothing & Accessories
UK DNW Ceramics Other Goods
UK Dog & Bone Electronic Equip. & Supplies
UK downloadshield.com Entertainment & Software
UK easydownloadcenter.com Entertainment & Software
UK Empire Clothing & Accessories
UK full-movie-downloads.com Entertainment & Software
UK G & K Jewellery Jewelry & Watches
UK Games World Direct Entertainment & Software
UK HS Fashions Clothing & Accessories
UK Jolly Rodger Entertainment & Software
UK Makro Clothing & Accessories
UK Matrix Computer Equip. & Supplies
UK Merry Hill G & K Jewellery Jewelry & Watches
UK moviesadvance.com Entertainment & Software
UK mp3eternity.com Entertainment & Software
UK Plasma Etch Asia Pacific Industrial Goods & Supplies
UK Pretty Woman Clothing & Accessories
UK Revolver Records Entertainment & Software
UK Rishworth Chase Ltd Clothing & Accessories
UK Scholar Digital Other Documents & Packaging
UK Stead the Jewellers and Partytime Jewelry & Watches
UK Steed the Jewellers Jewelry & Watches
UK thedownloadplace.com Entertainment & Software
UK VAR Brooks Holdings Entertainment & Software
UK Woodward Graphics Financial Instruments
USA #9 Software Entertainment & Software
USA 15th Street Beauty Mart Entertainment & Software
USA 1-800-Contacts Drugs & Medical
USA 2K Services Ltd. Drugs & Medical
USA 3-D Fashions Entertainment & Software
USA 69 Tobacco Outlet Entertainment & Software
USA 7-Eleven Entertainment & Software
USA 99 Cent Store & Oriental Grocery Clothing & Accessories
USA A&Z Music/Juice Cuts Entertainment & Software
USA A.W. Hastings Entertainment & Software
USA Abacus Computer Corp. Entertainment & Software
USA Academy Sports Other Goods
USA Advanced Distributors Industrial Goods & Supplies
USA AJ Barbershop Entertainment & Software
USA Aja Briel's Clothing & Accessories Entertainment & Software
USA Al Qaida Identification
USA Albers Medical Distributors Inc. Drugs & Medical
USA Allpills.us Drugs & Medical
USA American Family Products Clothing & Accessories
USA Americlean Big Discounts Entertainment & Software
USA Aperfectgift-4-U.com Clothing & Accessories
USA Araya's Enterprise Cigarettes & Tobacco Products
USA Ascent Media Group, Inc. Entertainment & Software
USA Audio Stream, Inc. Entertainment & Software
USA Avantek Inc. Entertainment & Software
USA Bag Beyond Clothing & Accessories
USA Baidu.com Entertainment & Software
USA Bamboo gang Cigarettes & Tobacco Products
USA Barnes Distribution Entertainment & Software
USA BCI Eclipse Company Entertainment & Software
USA BCI Financial Services Financial Instruments
USA BDG Publishing Entertainment & Software
USA Beach Daze Toys
USA Beach World Toys
USA Best Price Wholesaling Electronic Equip. & Supplies
USA Better Beepers Entertainment & Software
USA Beutler Corporation Entertainment & Software
USA Black & Yellow Major Auto Parts Industrial Goods & Supplies
USA Black and Yellow Auto Parts Industrial Goods & Supplies
USA Black and Yellow Major Auto Parts Inc. Industrial Goods & Supplies
USA Blue Knight Identification
USA Blue Light Studio Identification
USA BMC Imports Computer Equip. & Supplies
USA Borinquen Records Entertainment & Software
USA BP Station Entertainment & Software
USA Broadbent & Associates Entertainment & Software
USA Burlington Coat Factory Warehouse Corp. Clothing & Accessories
USA Burr's Trading Post Entertainment & Software
USA Buysmarter.com Entertainment & Software
USA BWT Industry Technology Service Inc. Entertainment & Software
USA C.J. Page One Entertainment & Software
USA CallSource Entertainment & Software
USA Cam Golf, Inc. Other Goods
USA Cam-Kat, Inc. Cigarettes & Tobacco Products
USA CanadianPharmacy Drugs & Medical
USA Cann Copy & Printing Other Documents & Packaging
USA Casa Latina Entertainment & Software
USA Casey's Citgo Inc. Cigarettes & Tobacco Products
USA Cathy and Me, Fashion Club USA Clothing & Accessories
USA CB Shoes Clothing & Accessories
USA CD Micro Entertainment & Software
USA Cellus USA Entertainment & Software
USA CEO Microsystems Entertainment & Software
USA Champ's Tattoo Parlor Entertainment & Software
USA Chips & Techs Entertainment & Software
USA Citgo Gas Station Entertainment & Software
USA Citiwide Storage Clothing & Accessories
USA City Sports, Inc. Other Goods
USA Claire-Sprayway Entertainment & Software
USA Click Enterprises Entertainment & Software
USA Compass Productions, Inc. Entertainment & Software
USA Compustar Co. Entertainment & Software
USA Consequence Ware Clothing & Accessories
USA Cool Topics Toys
USA Cornerstone Promotion Entertainment & Software
USA Courtesy Shop Clothing & Accessories
USA Cuba Habanos U.S.A. Cigarettes & Tobacco Products
USA CXN Freight Systems Inc. Clothing & Accessories
USA D&N Music Hut Entertainment & Software
USA Daka Designs, Ltd. Electronic Equip. & Supplies
USA Daka Development, Ltd Electronic Equip. & Supplies
USA Data Day USA Inc. Entertainment & Software
USA Designs by Ruth Clothing & Accessories
USA DeStefano & Partners Entertainment & Software
USA Digital Color Copy Entertainment & Software
USA Disc Collector Entertainment & Software
USA Discount Electronics and/or DiscountElectronics.com Entertainment & Software
USA Discount Tags Clothing & Accessories
USA DiscountBob.com Entertainment & Software
USA Division Sales Jewelry & Watches
USA Division Sales Jewelry & Watches
USA DM Technology & Energy Inc. Industrial Goods & Supplies
USA DMP Company, Inc. Industrial Goods & Supplies
USA Dollar Store Industrial Goods & Supplies
USA Dollar Tree Stores, Inc. Electronic Equip. & Supplies
USA Dollarama Industrial Goods & Supplies
USA E&J's Barber Shop Entertainment & Software
USA East Outlet, LLC Entertainment & Software
USA Easy Stop Food Store Entertainment & Software
USA Ebony Guess Music & More Entertainment & Software
USA Ecash Pay Ltd. Drugs & Medical
USA eCommerce Entertainment & Software
USA El Rincon Musical/Poncho Villa Entertainment & Software
USA El Rincon Sunglasses Clothing & Accessories
USA elitetorrents.org Entertainment & Software
USA Elizabeth Records Entertainment & Software
USA Empire Clothing & Sportswear Entertainment & Software
USA Endzone Clothing & Accessories
USA E-Pharmacy Direct Drugs & Medical
USA Epoch USA Trading Corporation Clothing & Accessories
USA ETA Financial Instruments
USA Expressgeneric Drugs & Medical
USA Expressions Clothing Outlet Clothing & Accessories
USA EZ Way Foods Clothing & Accessories
USA Faber Brothers, Inc. Other Goods
USA Facsimile Communications Industries Inc. Entertainment & Software
USA FanMobile Entertainment & Software
USA Fashions by Avi Clothing & Accessories
USA Feel Welcome Brokerage Other Documents & Packaging
USA Fernando Clothing & Accessories
USA Filene’s Basement Corp. Clothing & Accessories
USA First E-Commerce Entertainment & Software
USA Focus Century (USA), Inc. Toys
USA Frankwell Trading Company Industrial Goods & Supplies
USA Fusion Clothing & Accessories
USA Gambino crime family Jewelry & Watches
USA GI Joes, Inc. Other Goods
USA Girlfriends Clothing & Accessories
USA Global Computing Inc. Entertainment & Software
USA Global Recruitment and Immigration Services Inc. Identification
USA Gonzalez Records Entertainment & Software
USA Great Lakes Plumbing and Heating Entertainment & Software
USA Greatbizdeals.com Entertainment & Software
USA H&S Discount Beverages Entertainment & Software
USA H.D. Smith Wholesale Drug Co. Drugs & Medical
USA Harbison Electronics Entertainment & Software
USA Harwin Jewelry & Watches
USA Hecmma Group Electronic Equip. & Supplies
USA Hip Hop Wear Clothing & Accessories
USA Hip Hop World Clothing & Accessories
USA Hip-Hop Fashions Entertainment & Software
USA HipHopValley.com Clothing & Accessories
USA House of Hip Hop Entertainment & Software
USA ICL Network Solutions (HK) Ltd. Computer Equip. & Supplies
USA Il Stordi Entertainment & Software
USA Interboro Packaging Corp Industrial Goods & Supplies
USA International Boutique Clothing & Accessories
USA Ion Technologies Corp. Entertainment & Software
USA Isabels Jewelry & Watches
USA J&T Transit Bus Lines Other Documents & Packaging
USA J.S.K International Toys
USA Jamali Inc. Clothing & Accessories
USA Jean Shop and Thift Store Clothing & Accessories
USA Jewels Enterprises Clothing & Accessories
USA Jiande City Kingtec Electrical Appliance Company (China) Electronic Equip. & Supplies
USA Jus-4-U Entertainment & Software
USA K & J Urban City Fashions Clothing & Accessories
USA K Mart (published by "Pendleton Woolen Mills", November 3,2005) Other Goods
USA Kemet Campus Bookstore Entertainment & Software
USA Kevin Lance Clothing & Accessories
USA Kim's T-Shirts Clothing & Accessories
USA Kings of Golf, Inc. Other Goods
USA KNT Computers Entertainment & Software
USA Krauszer's Clothing & Accessories
USA Latin Music Store Entertainment & Software
USA Lin's Jewelry Co. Jewelry & Watches
USA Loehmann’s Holdings Inc. Clothing & Accessories
USA Love Booth Clothing & Accessories
USA LR Development Co. Entertainment & Software
USA M&S Computer Products Inc. Entertainment & Software
USA Madacy Entertainment Entertainment & Software
USA Maintenance Repair Technology Company Industrial Goods & Supplies
USA Manhattan Fashion Clothing & Accessories
USA Mara Salvatruchas Identification
USA Maryland Internet Marketing Entertainment & Software
USA Maryland Internet Marketing (MIM) Entertainment & Software
USA MatrixM Entertainment & Software
USA Maurice O'Reggio Computer Equip. & Supplies
USA Maytalk Clothing & Accessories
USA Maytalk Toys
USA Media Art Technology Entertainment & Software
USA Medica laboratory Drugs & Medical
USA Med-Pro Drugs & Medical
USA Mettime Group Inc. Clothing & Accessories
USA Mexican pharmacies Drugs & Medical
USA MHAP Inc. Industrial Goods & Supplies
USA Micro Excell Inc. Entertainment & Software
USA MicroCity4Less.com Entertainment & Software
USA Microsource International Entertainment & Software
USA Mi-Jack Products Entertainment & Software
USA Mintzer Merchantile Co. Clothing & Accessories
USA Misonix Inc. Entertainment & Software
USA Mobile Knowledge Group (MKG) Electronic Equip. & Supplies
USA Mondo Kim's Entertainment & Software
USA Most Wanted Fashion and Entertainment Clothing & Accessories
USA MS-13 Identification
USA MTC Entertainment & Software
USA MTC Distributing Entertainment & Software
USA Mudo Clothing & Accessories
USA Mufasa's Clothing & Accessories
USA Multi-Media Images Entertainment & Software
USA Multi-Union Trading Co. Ltd. Computer Equip. & Supplies
USA Mushroom Records Entertainment & Software
USA Mustapha Kechtban Cigarettes & Tobacco Products
USA MyPhotoFiles Entertainment & Software
USA National Collectors Mint Financial Instruments
USA Natural Shells Clothing & Accessories
USA New Century Media Entertainment & Software
USA New Farm Incorporated. Entertainment & Software
USA New Releases Video Coming Attractions Financial Instruments
USA New York Bling Bling Clothing & Accessories
USA Nextones.com Entertainment & Software
USA NFZ Products, Inc. Other Goods
USA NoFace Clothing Entertainment & Software
USA Nora’s Boutique Clothing & Accessories
USA Northstar Pharmaceuticals Inc. Drugs & Medical
USA Nothing over $7.99 Toys
USA NY Fashions Clothing & Accessories
USA NY Styles Clothing & Accessories
USA Ocean Breeze Market Toys
USA Ocean Fashion Toys
USA Ocean Fashion Boutique Clothing & Accessories
USA Odds and Ends Entertainment & Software
USA Odyssey Computers Entertainment & Software
USA Ognessian Cigarettes & Tobacco Products
USA Omega Distributors Cigarettes & Tobacco Products
USA OTTO Engineering Entertainment & Software
USA Pacific Mortgage Exchange, Inc. Entertainment & Software
USA Pager Plus Entertainment & Software
USA Pang and Son Industrial Goods & Supplies
USA Papa B Enterprises Entertainment & Software
USA Papa Benterprises Entertainment & Software
USA Papillon 2 Clothing & Accessories
USA Paradise Island Toys
USA Patriot Motorcycles Corporation Industrial Goods & Supplies
USA Paul's Equipment Identification
USA Payless Tobacco Cigarettes & Tobacco Products
USA PCK International Computer Equip. & Supplies
USA PDQ Tooling Inc. Entertainment & Software
USA Perfect Deal LLC Toys
USA PGL Designs Clothing & Accessories
USA PGL Fashion Boutique Clothing & Accessories
USA Pharmacy4us Drugs & Medical
USA Pharmacycards.com Financial Instruments
USA Phasions and Gifts by PJ Entertainment & Software
USA Philly's Finest Music Entertainment & Software
USA Pittsburgh Flavor Food & Alcohol
USA Planet Surf Toys
USA Plyerz Records Entertainment & Software
USA Powderz Inc. Drugs & Medical
USA Powerbackups Ultimate Software Backup Resource Entertainment & Software
USA Primary Care Health Services Inc. Entertainment & Software
USA Printing and Copy Express Financial Instruments
USA Pristine Capital Holdings Inc. Entertainment & Software
USA Private Collections Clothing & Accessories
USA PTI Inc. Entertainment & Software
USA Q-Med Corp. Drugs & Medical
USA Q-Med Corp. Drugs & Medical
USA Rapha Associates Drugs & Medical
USA Red Barn Flea Market Entertainment & Software
USA Red Rock Group, Ltd. Entertainment & Software
USA Robert Apfel Associates Inc. Clothing & Accessories
USA Sam & Friends Clothing & Accessories
USA Sassy Beachwear Clothing & Accessories
USA Scheels All Sports Inc. Other Goods
USA SD Logic Technologies Entertainment & Software
USA Seabreeze Discount Beachwear Toys
USA Servicios Bilingues Identification
USA Sham Clothing & Sportswear Entertainment & Software
USA ShowMeMyKicks.com Clothing & Accessories
USA Sigma Nu fraternity Identification
USA Signature PC aka Signature Computers Entertainment & Software
USA SIMKAR Corporation Industrial Goods & Supplies
USA Singing Machine Company, Inc. Entertainment & Software
USA Sixteen Barz Entertainment & Software
USA Skippy White Records Entertainment & Software
USA Smoker's Corner Cigarettes & Tobacco Products
USA Softworks #1 Software Backup Service Entertainment & Software
USA Sonya/Lilly Handbags Clothing & Accessories
USA South Beach Cigar Factory Cigarettes & Tobacco Products
USA Sports & More Clothing & Accessories
USA SSS Sales Co. Clothing & Accessories
USA Stedeford's Discount Records and Tapes Entertainment & Software
USA Style Setters Clothing & Accessories
USA Sunny Sky Travel Financial Instruments
USA Sunshine Beachwear Clothing & Accessories
USA Super Supplier Entertainment & Software
USA T and M Discount Mart Entertainment & Software
USA T&E’s Urban Wear Clothing & Accessories
USA T.Y. Trading Clothing & Accessories
USA Tabacaleras Cubanas S.A. Corp. Cigarettes & Tobacco Products
USA Taleah's Boutique Entertainment & Software
USA Tan Tien Publications Publications Other Documents & Packaging
USA Tan Tien Video Entertainment & Software
USA Technology One Entertainment & Software
USA The Computer Gallery Entertainment & Software
USA The Cosmetic Pharmacy Inc. Drugs & Medical
USA The New Star Trading Co Clothing & Accessories
USA The Toy Box Entertainment & Software
USA Theatre Direct International Entertainment & Software
USA Titanic Video Entertainment & Software
USA To Chimilco Entertainment & Software
USA Tobacco 2 Go Cigarettes & Tobacco Products
USA Tobacco Zone Cigarettes & Tobacco Products
USA Tong Sing Clothing & Accessories
USA Top Tunes, Inc. Entertainment & Software
USA TopSneakers.com Clothing & Accessories
USA Toxin Research International Inc. Drugs & Medical
USA Transamerican Auto Parts, Inc. Entertainment & Software
USA Tropitone Furniture, Inc. Entertainment & Software
USA T-Shirt Factory Clothing & Accessories
USA TwoG's Market & Deli Clothing & Accessories
USA U.S. Eagle Inc. Identification
USA U.S. Fire Other Documents & Packaging
USA UAV Corporation Entertainment & Software
USA Uchobi Trading Company Financial Instruments
USA United Industrial Ltd. Other Goods
USA Venus AutoParts Industrial Goods & Supplies
USA Wal-Mart (published by "Newsday", October 7, 2005) Clothing & Accessories
USA Wanted Shoes, Inc. Clothing & Accessories
USA Weaver Boos & Gordon Entertainment & Software
USA Westport's Bridgewater Associates Inc. Entertainment & Software
USA Wholesale Electronics Entertainment & Software
USA Winston Group, Inc. Entertainment & Software
USA Winvtech Solutions Entertainment & Software
USA WordSmart Corp. Entertainment & Software
USA Workmen’s Auto Insurance, Co. Entertainment & Software
USA Wright's Custom Wheels Entertainment & Software
USA www.FullBackups.com Entertainment & Software
USA www.Powerbackups.com Entertainment & Software
USA www.ShadowCrew.com Identification
USA www.Softworks.com Entertainment & Software
USA XYZ Trading Corp Electronic Equip. & Supplies
USA Yamoto Motor Corporation Industrial Goods & Supplies
USA Yi Ging Organization Entertainment & Software
USA Zarqawi Identification
USA Z-Spa Inc. Drugs & Medical
Vietnam Duy Hoang Shop Cigarettes & Tobacco Products
Yemen Al-Qaeda Identification
Zambia Step-In Internet Café Financial Instruments
© 2004 Gieschen Consultancy
Mmmmmm slow cooked possum, one of my favorites! They are even better if you get them as road kill, already tenderized. That was a little strange the 38 mil volume Thursday and then almost nothing on Friday. My guess is most people that have been wanting to buy shares that were sitting on the fence got in. Most people had Friday off and if they were going out of town, they probably wanted to get their order in on thursday. But who knows, it could have been the market maker accumulating shares in advance of an anticipated run. Have a Happy New Year to you and the wife. Did she finish those 50 pounds of pork rinds yet?
Sure Trace website back up and running a lot faster. Also True Product ID website is much faster. Lots of good info on that site.
http://www.trueproductid.com/indexyingwen.htm
http://www.suretrace.com/
Merry Christmas just1fl, I hope you and your family have a nice one.
Some people had questions about the 2 billion labels that SSTY delivered recently, asking if they are a label then they can be removed. I think SSTY will label everything with a tag that the product authenticity is guaranteed by the use of s-dna. Here is a quote from the15c2-11 that explains how that works.
Through our Loss Prevention Program our labels are affixed to the asset, and the synthetic DNA is applied over top of
the label. The chemicals permeate through perforations on the labels bonding molecularly with the asset. Even if the
label is forcibly removed, our synthetic DNA remains intact. The permanence of the synthetic DNA ensures that the
asset can be identified with complete accuracy.
SSTY form 15c2-11
General Instructions
Complete this formto initiate or resume quotations in the OTC Bulletin Board® Service, the Pink Sheets®, or any other
comparable quotation medium. By completing this form, your firm is representing that it has satisfied all applicable
requirements of Securities and Exchange Commission (SEC) Rule 15c2-11 and the filing and information
requirements of NASD Rule 6740. It is not necessary to file this application if a member qualifies for the
piggyback or another exception provided by paragraphs (f)(1)-(5) of Rule 15c2-11.
File this form with NASD Regulation, Inc. at least three business days before initiating or resuming the quotation of any OTC
(non-Nasdaq) equity security in any quotation medium.
Send the completed form, a photocopy of the completed form, and two copies of the required issuer information to the NASD
OTC Compliance Unit, 9509 KeyWestAvenue, Rockville, MD 20850-3389. If you have any questions, please
call the OTC Compliance Unit at (240) 386-5100.
Please check the applicable quotation medium(s): _ OTC Bulletin Board X Pink Sheets _ Other ______________
(Form 211 Addendum also required) (name of quotation medium)
Part 1 – Issuer and Security Information
Please provide the information requested below:
1. Exact name of issuer and predecessor (if any) SURE TRACE SECURITY CORP, SEE ATTACHED
2. Address of principal executive offices 1615 WALNUT STREET 3RD FLOOR
PHILADELPHIA, PA 19103
Telephone number of principal executive offices 215-972-6999
3. Type of security (check one) X Domestic Security _ ADR _ Foreign Security _ DPP
4. State of incorporation UTAH Country of incorporation USA
5. Complete title and class of security to be quoted COMMON STOCK
6. Symbol of security (if assigned) SSTY / CMXS (prior to Feb. 2003) CUSIP (if assigned) 86866 W 101
7. Par or stated value of security $0.001
8. Total securities outstanding at the end of the issuer’s most recent fiscal year 125,460,294
9. Name and address of transfer agent Securities Transfer Corporation, 2591 Dallas Parkway, Ste. 102
Frisco, TX 75034
F O R M 2 1 1
As of February 2002 FORM 211 1
Form 211 ( continued)
10. Price of initial quotation entry Bid ____________ Ask ____________ _ No price at this time
If you are entering a bid and/or ask price now, you must also provide a clear statement of the following information:
The basis upon which the priced entry was determined:
___________________________________________N/A______________________________________________
____________________________________________N/A_____________________________________________
The factors considered in making that determination:
____________________________________________________________________________________________
____________________________________________________________________________________________
Part 2 – Required Issuer Information
Please check the applicable box (just one) that corresponds to the category of issuer information accompanying this application. To
determine the applicable category, carefully review paragraphs (a)(1)-(5) of Rule 15c2-11 under the Securities Exchange Act of
1934 (1934 Act) and paragraph (g), which defines “reasonably current” information for purposes of paragraph (a)(5).
Please provide two copies of all required information along with this completed form.
RECENT OFFERINGS
_ (a)(1) Please provide the prospectus which became effective less than 90 calendar days prior to filing this Form 211, as
specified by Section 10(a) of the Securities Act of 1933 (1933 Act).
SEC Effective Date:______________________ Date Security(ies) Issued: ________________________
_ (a)(2) Please provide the offering circular which became effective less than 40 calendar days prior to filing this Form 211,
as provided for under Regulation A under the 1933 Act.
SEC Effective Date:______________________ Date Security(ies) Issued: ________________________
_ (a)(3) REPORTING COMPANIES
Please provide:
_ The issuer’s most recent annual report filed pursuant to Section 13 or 15(d) of the 1934 Act or the annual
statement referred to in Section 12(g)(2)(G)(i) of the 1934 Act.
_ Quarterly and other current reports filed after the issuer’s most recent annual report or statement.
Please list below each report or statement supplied with this form.
Report or Statement Date Report or Statement Date
______________________________ ___________ ______________________________ ___________
______________________________ ___________ ______________________________ ___________
______________________________ ___________ ______________________________ ___________
______________________________ ___________ ______________________________ ___________
______________________________ ___________ ______________________________ ___________
As of February 2002 FORM 211 2
Form 211 ( continued)
_ (a)(4) FOREIGN PRIVATE ISSUERS*
Please provide information furnished to the Securities and Exchange Commission pursuant to Rule 12g3-2(b) of
the 1934 Act since the beginning of the issuer’s last fiscal year.
Please list below the information supplied with this form.
Information Date
___________________________________________ __________________________________
___________________________________________ __________________________________
___________________________________________ __________________________________
___________________________________________ __________________________________
X (a)(5) NON-REPORTING AND ALL OTHER COMPANIES*
The applicant must make the issuer information filed in conjunction with section (a)(5) of this form available
upon request to any person expressing an interest in a proposed transaction with the subject security filed.
Please provide the issuer’s most recent balance sheet, profit and loss and retained earnings statements, equivalent
financial information for the two prior fiscal years for the issuer or any predecessor company, and the documents
that support the information provided in this form.
a. Describe the issuer’s business. _______________SEE ATTACHED_________________________________
________________________________________________________________________________________
b. Describe the products or services offered by the issuer. _____SEE ATTACHED_______________________
________________________________________________________________________________________
c. Describe the issuer’s facilities. __________SEE ATTACHED_______________________________________
________________________________________________________________________________________
d. List the name(s) of the current Chief Executive Officer(s) and members of the Board of Directors of the issuer.
James Mackay, Chairman; Michael Cimino, vice chair & Pres.; William Chan, CEO & Dir.;
Jean-Gilles Subervie, CTO & Dir.; Cameron Moriarty, COO & Dir.
e. Is the member firm submitting this form, or any person associated with it, affiliated directly or indirectly
with the issuer?
__N__ (Y/N) If yes, what is the affiliation?____________________________________________________
f. Is the quotation being published or submitted on behalf of any other broker/dealer? __N___ (Y/N)
If yes, what is the name of the broker or dealer?__________________________________________________
g. Is the quotation being published or submitted directly or indirectly on behalf of the issuer or any director,
officer, or any person who is directly or indirectly the beneficial owner of more that 10% of the outstanding
units or shares of any equity security of the issuer? __N__ (Y/N) If yes, what is the name of the person, and
what is the basis for any exemption under the federal securities laws for any sales of such securities on behalf
of this person?
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________
* Effective March 31, 1998, foreign equity securities (including those represented by ADRs) are not admitted to the OTC Bulletin Board Service unless the issuer has
registered the security pursuant to Section 12 of the 1934 Act.
As of February 2002 FORM 211 3
Form 211 ( continued)
Part 3 – Supplemental Information
Please review paragraphs (b)(1)-(3) of Rule 15c2-11 and provide the information requested below.
(b)(1) Describe the circumstances surrounding the submission of this application. Include the identity of any
person(s) for whom the quotation is being submitted and any information provided to your firm by such person(s).
___________________________________________________________________________________________
___________________________________________________________________________________________
(b)(2) Has the issuer or its predecessor (if any) been subject to a trading suspension order issued by the SEC during
the past 12 months? If a trading suspension order has been issued, provide two copies of the order or of the SEC’s
public release announcing the trading suspension order.
Please check the applicable box: X Trading suspension order or release enclosed. _ Not applicable.
(b)(3) Provide any material information, including adverse information, regarding the issuer, that your firm is aware of or
has in its possession (Do not list information already provided in Part 2). If your firm does not possess such
information, please state “None” below.
Identify any applicable information by title and date. ________________________________________________
___________________________________________________________________________________________
As of February 2002 FORM 211 4
Form 211 ( continued)
Part 4 – Certification
The undersigned must have a reasonable basis for believing that the information accompanying this form is accurate in all
material respects and that the sources of the information are reliable.
By signing this document, I acknowledge and certify that my member firm has a reasonable basis for believing that the
information accompanying this form is accurate in all material respects and that the sources of the information are reliable
(“affirmative review obligation”) as required by Rule 15c2-11 under the 1934 Act and NASD Rule 6740. I understand and
acknowledge that this affirmative review obligation applies to all subsequent submissions made in connection with this Form
211 application. Further, I certify that I have examined this form and, to the best of my knowledge and belief, it is true, correct,
and complete. I understand and acknowledge that copies of this form, accompanying documents, and subsequent submissions
made in connection with this Form 211 application may be provided to the Securities and Exchange Commission, or other
regulatory agencies, Pink Sheets LLC, and to the public upon request through the Pink Sheets LLC.
Name, title, and signature of member firm employee to contact regarding information contained in this Form 211 application.
Name _____________________________________________________Title ____________________________________
Signature___________________________________________________
Phone _____________________________________________________Fax_____________________________________
Name, title, and signature of the registered principal of the member firm responsible for this Form 211 application, and all
subsequent submissions made in connection with this application.
Name _____________________________________________________Title ____________________________________
Signature___________________________________________________Date____________________________________
Firm Name _________________________________________________________________________________________
(Member firm must be a Pink Sheets LLC subscriber if application is for the Pink Sheets.)
Address____________________________________________________________________________________________
City _______________________________________________________State______________Zip___________________
Member firm BD# or CRD# ___________________________________Market Maker Identifier ____________________
As of February 2002 FORM 211 5
1
THIS STATEMENT HAS NOT BEEN FILED WITH THE NASD OR ANY OTHER REGULATORY AGENCY
PART 1
Item 1. Business
The Company was incorporated July 22, 1983 as White Cloud Exploration, Inc., under the laws of Utah for the purpose
of obtaining capital to seek potentially profitable business opportunities.
In 1997, the Company acquired two entities: Watchout, a California corporation, and Goldpoint International, a limited
liability company. In November 1998, the Company changed its name to Watchout!
On August 31, 2000, the Company acquired all of the issued and outstanding shares of common stock of Cormax
Business Solutions, Ltd. in exchange for the issuance of 25,100,000 shares of our common stock. For purposes of the
transaction, the shares were valued at $.30 per share for a total consideration of $7,530,000. The transaction was
subject to receipt of certain documentation, which was received by the Company on September 9, 2000.
On March 7, 2001, the Company filed an amendment to its articles of incorporation changing its name to Cormax
Business Solutions Inc.
On April 1, 2001 Cormax Business Solutions Inc. purchased a 100% interest in Expanded Systems Solutions Inc.
("Expanded Systems"). Cormax purchased Expanded Systems from Novalink for $200,000 USD. Expanded Systems
is a wholly owned subsidiary of Cormax Business Solutions Inc. Expanded Systems operations have been
discontinued.
On January 29, 2002, the Company acquired all of the issued and outstanding shares of Identification Technologies
Inc., a private Alberta corporation ("Identex"), in exchange for 1 million shares of the Company's Series B Preferred
Stock. Immediately following the acquisition of Identex, the Company changed its name to Sure Trace Security
Corporation (“sure Trace”). Identex, the wholly owned subsidiary changed its name to I.D.ology Laboratories Inc.
("I.D.ology") on June 18th, 2003.
Overview of Business
Product Summary
The Sure Trace technology is comprised of three components:
1. Synthetic DNA (SDNA or taggant) which is uniquely formulated for each product to be marked or tagged
2. Scanning Gun to read the SDNA present on a product in order to reveal the identity of the marked item
3. KMAC, the dynamic database system designed to maintain product attributes associated with each SDNA
formulation
SDNA
SDNA is a complex of chemical compounds comprised of 15 inorganic elements for use on a client-specific and
product-specific basis. SDNA offers almost limitless, unique formulations by changing the ratio of the elements.
By combining a unique ratio of some or all of the inorganic elements above, a distinct compound is formulated – a
distinct code which will be invisibly attached to a product or the product’s packaging.
SDNA can be incorporated in the manufacturing process of a product or placed onto the label, ink or paper on the
packaging. Once applied to a product, that asset can be analyzed anytime by using Sure Trace’s X-ray florescence
scanner to determine the proper identity of the asset, its authenticity, ownership or any other data programmed by Sure Trace and the client to be revealed.
There are a number of critical factors that determine the selection of elements:
Cost
Availability
Conflicts with spectral analysis
Boiling point
Host material composition
Delivery method
With consideration of the critical factors, a mixture of the elements using a unique set of ratios is formed. Depending
on the product to be tagged, the mixture can be added in its powder form to the manufacturing process of the product
or packaging. Additionally, if a taggant solution is desired, a water or alcohol based solution can be formed.
The process and method of applying the taggant to a product must be developed jointly between the client and Sure
Trace in order to ensure both the proper application of the taggant as well as integrity of the product being tagged.
Upon the development of the taggant and proper application to the product, archival of the unique code will take place
using the X-ray fluorescence scanner and KMAC database system.
X-RAY FLUORESCENCE SCANNER
XRF Spectrometry is used to identify elements in a substance and quantify the amount of those elements present to
determine the elemental composition of a material. An element is identified by its characteristics X-ray emission
wavelength or energy. The amount of an element present is quantified by measuring the intensity of its characteristic
emission.
The XRF scanner employed by Sure Trace easily and quickly identifies and quantifies elements over a wide dynamic
concentration range, from PPM levels up to virtually 100% by weight. It is important to note that the scanner will not
destroy the sample being analyzed.
The XRF scanner utilizes the iPAQ Pocket PC from Hewlett Packard that allows for greater software intelligence and
upgradeability. The use of the iPAQ leverages the multi-billion dollar R&D efforts of Intel, HP and Microsoft for
portable analytical instrumentation.
KMAC
The XRF Fluorescence scanner will be deployed for analysis of the SDNA. Essentially, the scanner reads the SDNA
previously applied to a product. A local database is then queried to determine whether the SDNA matches a valid product.
KMAC is the secure database/communication mechanism that enables the scanner to convert the SDNA analysis into
meaningful product or ownership information.
Using the iPAQ/Windows CE based allows Sure Trace to move subsets of the product database to the actual scanner
based upon a unique identifier of the scanner and client company information. This allows for each client/scanner
combination to have either a shared or independent set of items available in its local database. KMAC offers the
ability to have all scanners either scan for all of the products in the database or for certain segments of the database.
This approach offers complete flexibility to the client.
The local database can be maintained via two methods:
1. Manually: Simply click on the update icon on the iPAQ to update the local database
2. Automatically: Automatic updates tied to time or certain triggering events such as turning on the iPAQ
Additionally, iPAQ systems leverage WiFi communications that allows multiple scanners to be implemented without
the need for a computer system with which to synchronize. The iPaq will connect directly to the central database for
updating. If necessary, WEP can be implemented to encrypt LAN traffic between the scanner and the Wireless
Access Point. SSL will encrypt the traffic over the internet.
The local database provides immediate lookups of valid/invalid SDNA. Speed is of the essence and there is simply no
substitute for immediate lookups into a local database.
Hosted Database
A proprietary database stores all relevant SDNA formulations and product information. Each taggant formulation is
obtained during the production and all associated information for the target product will be catalogued.
Frequently, selected fields of the database will be replicated (copied) to the local scanners based upon a username
logon that will identify which products are authorized to be scanned by that particular company/scanner combination.
It is possible to have government level scanners that can scan the entire database, but to maintain client
confidentiality, certain information will not be revealed on the scanner.
Each time the scanner database is updated, a record is maintained in the central database identifying the customer,
scanner and date of last update. This ensures that all appropriate information is available to the scanner when needed.
Any abnormal access to the central database can also be flagged and investigated.
Statistics gathered by the scanner and the central database can be available to the client.
Production Lots: It may be desirable to track production lots. In this case a new SDNA code must be formulated for
each lot and enable the client to track lots and along its distribution chain.
The database architecture will utilize an industry standard, multi-tiered approach.
4
Business Development
We are attempting to position Sure Trace to become a global solutions provider for government agencies and
commercial clients in the fields of loss-prevention, anti-counterfeiting and document security. Our forensic markers
can be verified in multiple applications using a proprietary handheld scanner.
Sure Trace uses chemical compounds that are referred to as elemental tagging to work the various assets and items
that are to be protected. Elemental tagging is the process of applying an inorganic chemical formulated on a client-by
client or application-by-application basis, to assets. Sure Trace refers to its elemental tagging product as synthetic
DNA, and this process we believe can be likened to invisible bar coding.
Our marking process involves the application of a combination of inorganic elements. The elements penetrate the
surface of an object and bond to the object at a molecular level. The method of application can vary depending on the
item to be marked. The coded elements may be placed on an object using a colorless carrier rendering them invisible
to the human eye or can include a fluorescent element so it can be detected under ultra violet light.
The specific ratios of elements that make up the synthetic DNA create a unique identity code for a specific client or a
specific project/division/product or production run within the client’s area of concern. The number of potential mix
ratios or identity codes is in the billions. We have tested and proven our product’s capability to introduce synthetic
DNA into a manufactured product during the manufacturing process. This enables us to invisibly attach information
about the product via the synthetic DNA.
Sure Trace offers three programs based on our synthetic DNA application:
- Loss Prevention Program
- Anti-Counterfeit Program
- Document Security Program
Loss-Prevention Program
The loss-prevention program is designed to help assist our clients reduce theft by its employees and/or subcontractors.
As an organization issues, or makes available assets to its employee population it invariably experiences some degree
of theft from that community. While in many cases this amounts to paperclips, or pencils, it is common for tools and
portable electronic devices to be removed without authorization.
Through our Loss Prevention Program our labels are affixed to the asset, and the synthetic DNA is applied over top of
the label. The chemicals permeate through perforations on the labels bonding molecularly with the asset. Even if the
label is forcibly removed, our synthetic DNA remains intact. The permanence of the synthetic DNA ensures that the
asset can be identified with complete accuracy.
Anti-Counterfeit Program
We believe we have designed a process to integrate our synthetic DNA into our clients’ production processes with as
little interruption as possible. Medical safety data sheets are provided to clients as part of our production plan. This
assures our clients that the synthetic DNA will not adversely affect or alter their product or packaging quality.
We intend that the production plan include a comprehensive outline of how the field verification / investigation
program will be implemented. This portion of the plan describes how traditional sources of tips such as field sales
representatives, distribution chain intelligence reports, customer feedback and secret shoppers will be incorporated to
5
trigger in-depth investigation by the client’s security/investigation firms. Options for pro-active scanning of product in
the retail chain will provide another source of counterfeit or contraband leads. This document also details the
procedures and policies for when these leads trigger an investigation by the security provider. Using highly qualified
independent security investigators provides critical chain of custody and evidence needed if the client pursues civil or
criminal suit against a counterfeit dealer or distributor.
The production plan produced from phase 1 investigation and development will include:
- production integration plan
- testing procedures and results
- durability, compatibility and toxicity analysis
- guidelines for ensuring appropriate levels of synthetic DNA in the
product markings
- results and recommendations from a threat / risk assessment
- definition of the awareness / education program
- demonstrations
- collateral provided to communicate your anti-counterfeit program
- field authentication program definition
- schedules, policies and procedures.
On completion of phase 1 the production plan is presented to the client detailing the exact procedures to begin full
implementation of the anti-counterfeit program (Phase 2).
We are currently targeting the following brand dependent industries with market visibility:
- automobile parts
- aircraft parts
- garment and apparel
- software
- sporting goods and memorabilia
- pharmaceuticals
- tobacco
- construction
- cable and telecommunications
Document-Security Program
The Document-Security program allows private-sector organizations to mark and verify critical documents such as
security and bond certificates, legal contracts, corporate identification cards etc. The public sector applications
include: national identification cards, passports and currency. Our synthetic DNA and hand-held scanner offer
immediate and absolute verification of original documents.
Our marking approach incorporates the after production approach from our loss prevention program. A segment of the
document can be marked with our synthetic DNA or incorporated into paper fibers, ink for stamps or ink for printing,
depending on the document makeup.
The document-security program is divided into two phases: the investigation and development phase and the
production plan phase. The investigation and development phase is where the ideal application of our synthetic DNA
is determined. Using third party testing we ensure no toxicity is introduced to the documents and that our synthetic
DNA is compatible. Through this testing protocol we can determine that the application will not de-nature the ink or
paper and that the appropriate amounts of synthetic DNA will be introduced to ensure an absolute read with the handheld
scanners. At this point a threat and risk assessment is provided to clients who are not familiar with the
safeguards, storage and handling of the security products.
Upon the successful completion of the first phase, the customer is presented with a production plan detailing how the
synthetic DNA is integrated into the document production process. Outlined is the complete implementation strategy
for placement of the document markings, third part toxicity analysis and provision for training the field personnel
using our hand-held scanner for authentication.
We believe that the anti-counterfeit and document-security programs are unique in the industry. We have taken a
comprehensive program approach to the development of these products. We are not simply providing chemicals to
our clients but rather delivering a complete solution.
We have identified a strong potential market in the form of high risk or high value documents such as:
- passports
- drivers’ licenses
- smart cards
- credit cards
- original art re-prints
Currently there are several products that have similar uses that are available in the security market. We feel our anticounterfeit,
loss prevention and document security programs have a competitive advantage over other available
products for the following reasons:
- Similar technologies that are attached or applied to the surface of items to be
identified are visible and can be subject to tampering or removal.
- Our process penetrates the surface to bond with the items at a molecular level and
can be either visible or completely covert.
- Our process provides portable positive real time identification with our hand-held
Scanner.
- Our code verification system is non-destructive.
- The elements that we use to create our codes are virtually indestructible; destroying
them requires the destruction of the marked asset.
- Once applied, the synthetic DNA does not need any ongoing maintenance and will
remain effective for the life of the asset.
- We believe that our total program of Education, Application, and Investigation is the
most comprehensive approach to Loss Prevention, Anti-Counterfeit and Document Security in the industry.
Distribution Methods
- Strategic alliances with selected global security organizations that provide security
audit consulting.
- Agent relationships with regional or national security investigation companies.
- Strategic alliances with asset management providers.
- Marketing contracts with key organizations in unique industry verticals throughout
the world.
Government Regulation
Sure Trace is not aware of any government regulations that might adversely affect its business.
Our manufacturing process involves the use of certain chemical compounds. The use of these compounds is regulated
and we have established a waste management and disposal system that complies with all government environmental
regulations.
I hope we get to the otcbb soon just like everyone else, however I don't want for everyone to get their hopes up because when that happens and time comes to pass then there is a feeling that ssty did not succeed. We have made a lot of success in the past 2 or 3 months and I use that as my guidepost, not when will we return to the otcbb. If I had to make a prediction I would say the end of January. We filed the 15c2-11 on 9/20/05 and usually it takes 4 months to get approved. The 211 will bring us back to the otcbb or pinks. I would be happy to return to the pinks first. The otcbb will require more paperwork than the 15c2-11 and we will have to comply with the Sarbanes Oxley, which is a mound of paperwork.
Let's just look at what the company has accomplished recently and hope to get back to a bid and ask whether it is pink or otcbb.
Gotta go to work, have a great day everyone.
Yeah, I am pretty confident we have a bright future. I have done lots of dd and feel the rewards far outweigh the risks.
Wow 2.4 million buy at ask.
It is a statement of just how much the current investors beleive in this company. I posted on rb this morning recent pr's since October 20th and how much progress we have made since then. This company is working 24-7 to get things done.
Since October 20th when we with True Product ID signed a cooperation agreement with The National Brand Cartel Anti-Counterfeit Cooperation Network - Brand315, the approval of Globe Staff acquisition, The meeting was held at the People's Hall, which is connected to the People's Congress in Tiananmen Square, agreement with Innov-X Systems and they are now opening up manufacturing facilities in China, signs contract with Chinese government for 2 billion labels for $5 million and delivers them way ahead of time, European Subsidiary of Sure Trace, Globe Staff Consulting, Successfully Completes Field Audit With French Police of its Mobile Tracking Module, SSTY Delivers First Shipment of Labels for Brand315.com During the China Trademark Festival; Releases Video Update to Shareholders.
This company has done a fantastic job in just the past 2 months. If anyone says that they are not working 24-7 to get this ramped up they are blind.
Agreed, it is the only tech out today that cannot be tamperd with.
The 2 billion labels that ssty delivered to brand315 at the chinese trademark festival last week that we got $5 million for was just a test. I have done my dd on this company and the sdna is imbeded into any product except diamonds. Here is my recent dd.
Suretrace Security Inc.
Part 1
A brief view of the company history from sec filings
(Many filings were omitted just to keep it as short as possible}
Suretrace Security Inc started out as White Cloud Exploration Inc incorporated July 22nd 1983 in the state of Utah. for the purpose of obtaining capital to seek potentially profitable business opportunities. Since inception, the Company has been engaged in organizational activities and is in the development stage.
Steven C. Signer. the President and a director and Dev Mahanti is Director and Secretary of Registrant.
White Cloud, in March of 1991, entered into a Letter of Intent whereby White Cloud was to acquire 100% of the Stock of American Technology, Inc.("ATI") in exchange for stock of White Cloud. The merger was cancelled due to accounting difficulties with American Technology, Inc.
General statement of acquisition of beneficial ownership 8/18/1997. WILLIAM C. MEIER 1430 Larimer #209 Denver, Colorado 80202.
ITEM 4. PURPOSE OF TRANSACTION
The purpose of the acquisition of the common stock is to make a speculative investment and in order to provide consulting services to the Company relating to future acquisitions of target companies beneficial to the shareholders of the Company. Although the Reporting Person has devoted substantial effort in exploring potential acquisitions which may have potential relevance to matters referred to in paragraphs (a) through (d)of Item 4. of Schedule 13D, unresolved conditions precedent remain and it is unclear at this time whether there will be any successful closing of any acqusitions.
(We will skip forward to the sec filing 4/23/2003)
1530-9th Avenue S.E.,
CALGARY, ALBERTA, CANADA T2G 0T7
Telephone: (403) 204-0260
(Address, including zip code, and telephone number, including area code,
of registrant's principal executive offices)
Securities registered under Section 12(b) of the Exchange Act:
Title of each class
None Name of each exchange on which registered
None
Securities registered under Section 12(g) of the Exchange Act:
Common Stock, 500,000,000. $0.001 Par Value
(Title of class)
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. X Yes ______No
Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not contained in this form, and no disclosure will be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. _______
State issuer's revenues for its most recent fiscal year: $ 409,237
State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2 of the Exchange Act.):
$1,558,151 as of April 14, 2003.
Note: If determining whether a person is an affiliate will involve an unreasonable effort and expense, the issuer may calculate the aggregate market value of the common equity held by non-affiliates on the basis of reasonable assumptions, if the assumptions are stated.
(ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST 5 YEARS)
Check whether the issuer has filed all documents and reports required to be filed by Section 12, 13, or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.
Yes ______No _______
(APPLICABLE ONLY TO CORPORATE REGISTRANTS)
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: as of December 31, 2002.
PART I
ITEM 1. DESCRIPTION OF BUSINESS
Business Development
Since its inception in July of 1983 as White Cloud Exploration, Inc. ("the Company"), has been in the developmental stage, while it has attempted to identify suitable mergers, assets or acquisitions of operations. In November 1998, the Company changed its name to Watchout! Inc.
On August 31, 2000, the Company acquired all of the issued and outstanding shares of common stock of Cormax Business Solutions, Ltd. in exchange for the issuance of 25,100,000 shares of our common stock. For purposes of the transaction, the shares were valued at $.30 per share for a total consideration of $7,530,000. The transaction was subject to receipt of certain documentation, which was received by the Company on September 9, 2000. Pursuant to the share acquisition Agreement, Todd Violette was appointed as President and Chairman of the Board of Directors of the Registrant.
On March 7, 2001, the Company filed an amendment to its articles of incorporation changing its name to Cormax Business Solutions Inc.
On April 1, 2001 Cormax Business Solutions Inc. purchase 100% interest in Expanded Systems Solutions Inc. ("Expanded Systems"). Cormax purchased Expanded Systems from Novalink for $200,000 USD. Expanded Systems is a wholly owned subsidiary of Cormax Business Solutions Inc.
On January 29, 2003, the Company acquired all of the issued and outstanding shares of Identification Technologies Inc., a private Alberta corporation ("Identex"), in exchange for 1 million shares of the Company's Series B Preferred Stock. Immediately following the acquisition of Identex, the Company changed its name to Sure Trace Security Corporation.
OVERVIEW OF BUSINESS
Sure Trace, through its wholly owned subsidiary Identification Technologies Inc. ("Identex"), sells proprietary security products and services. The markets for its products and services are worldwide. Studies completed by Ernst & Young, the US Department of Labor and the US Chamber of Commerce value these markets in excess of $1 trillion annually.
Due to the events of September 11, 2001, security in all its forms has become a major concern for both government and private sector businesses. Sure Trace has a solution that is proven, proprietary and extremely adaptable to many applications.
Identex is initially focusing on Loss Prevention, which is a polite means of describing employee/contractor theft from medium to large industrial employers. Based on the Ernst & Young and the US Department of Labor, studies employee theft averages $500 per year per employee; 10% of employees will never steal, 15% are considered to be habitual thieves, which leaves the 75% in the middle that steal on an opportunistic basis.
The goal of Identex's products and services is to raise the bar in terms of the risk associated with stealing and to reduce theft through a combination of science and psychology.
Science
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion, extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two
different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
3
Psychology
This forms a major component in the overall success of Identex's program. Once the product has been installed, company employees, through an ongoing awareness campaign, are shown exactly how the product works and thus discover that extreme abrasion, acids and solvents and even 3,0000 F will not remove the taggant. Taggants can be applied both covertly and overtly. A florescence is added to the formulation, which forms the first line of detection. UV lights are used at entry/exit gates so that security personnel as well as employees/contractors can easily identify marked assets.
Identex
The Identex taggant formulations work with the Niton proprietary patented portable elemental scanner. This scanning technology is able to identify an individual formulation to the very low 5 parts per million. Each client receives a unique formulation of the taggant so those assets belonging to one client can always be identified as theirs. Asset scanning forms a significant component within the ongoing employee awareness campaign.
While the vast majority of employers typically terminate an employee caught stealing, it is critical to the success of any deterrence program that employees know that prosecution is a real option and not just an empty threat.
Research
Identex engaged Kroll & Associates, the worlds largest security firm, to assist in the development of a "chain of evidence" able to withstand legal scrutiny should a client ever wish to legally pursue an employee for theft. The installation of a complete chain of evidence, which is comprised of a series of policies, procedures and documentation forms a major component of the services provided in conjunction with Identex's products and is another component of the employee awareness campaign.
Marketing Strategy
Prior to its acquisition by Sure Trace, Identex sold Loss Prevention products throughout Canada on a direct sale basis. Identex's client list is impressive and includes such major corporations as Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Imperial Oil, Toronto Transit, and Atomic Energy of Canada to name a few.
Sure Trace has significantly altered Identex's distribution strategy by introducing a channel partner distribution strategy as opposed to direct sales. To this end, Identex has completed national distribution agreements with the Commissionaires (of Canada) and with ToolWatch Corporation of Denver, CO. Identex is currently negotiating with several additional firms for distribution agreements on an international scale.
This distribution model for Loss Prevention provides Identex with several significant advantages over direct sales. It has often been said that "people buy from people but they generally buy from people they like and trust". Using existing security firms or firms with a complimentary product or service provides Identex with a large existing sales force that has access to a large existing client base that knows and trusts this sales force. Moreover, as this sales force is a third party to Identex, selling costs and expenses are borne by the distribution channel partner until a sale is actually completed. The following examples will elucidate our strategy
Example One -Horizontal Channel Partner
The Commissionaires are Canada's largest security personnel provider to all levels of government and private sector business. In 2002 the Commissionaires' labor force grew to 17,000, which are largely made up from retired military and police force professionals. In that same year gross sales reached 270 million CDN. The Commissionaires boast better than 1,800 private sector businesses that meet Identex's industrial client profile and have direct access to many senior government officials.
Example Two-Vertical Channel Partner
ToolWatch produces an Asset Management software program and in its 12 year history has accumulated better then 6,000 clients of which 5,000 meet Identex's industrial client profile. Much like the Commissionaires, ToolWatch has a professional sales force but does not employ security personnel. As such, ToolWatch's distribution strategy involves the establishment of regional seminars where ToolWatch will expose their clients to Identex products and services. ToolWatch will then establish a "Security Association" amongst groups of regional clients. The associations will hire the appropriate number of security professionals who will initially form the installation coordination team, then form the employee training team, and then facilitate an ongoing employee awareness campaign.
4
Identex intends to replicate this distribution strategy throughout Europe, Asia, Africa and the Middle East.
While gross margins on Loss Prevention sales average sixty eight percent (68%), margins in Authentication are higher. Identex has elected to initially focus on Loss Prevention as this strategy facilitates a geographically broad distribution of portable scanners, which forms a central core to the ultimate success of Authentication. The benefits of the broad geographical distribution of scanners are described in greater detail below.
Authentication involves positive proof of origin, right to hold, or outright ownership of an asset. These assets can include documents, gems, component parts, and of course brand name finished goods. The Washington Anti Counterfeiting Coalition has determined that the cost of fraudulent replication of assets amounts annually too more than 1 trillion dollars (USD) worldwide.
Identex-A New Market Category
Globally five other companies sell "coded" fluids. However, none of these companies possess portable scanning technology and as such require their clients to use a test called "laser ablation" to prove ownership. The most active of these companies, ISOTAG of Texas, uses a color shifting UV (black) light technology. While accurate, the UV technology is expensive and stationary. In addition, as their coded fluid is organic in nature it sits on top of the surface and fades over time under natural light. Identex has a significant advantage over this technology, as its product is inorganic, bonds with the asset on a molecular basis, will never fade, and is readable with a relatively, inexpensive portable scanner. As such Identex considers itself as a new market category.
To manage this diverse market opportunity Identex has broken Authentication into the following subgroups: Government Services, Industrial Authentication and Brand Authentication.
Government
Since September 11th, governments around the world have established significant budgets to augment their security efforts. Identex's products can be used in passports, immigration documents, currency, personnel identification badges, contracts, airspace security, etc.
Industrial Authentication
Industrial authentication provides industries such as automotive with the ability to determine legitimate parts as opposed to "knock-off" parts. False warranty claims and legal liability suites are a major concern for corporations. Industries such as aerospace and high-pressure valve producers are required to test component parts on a routine basis. Art collections, lottery tickets, casino checks and playing cards, gem certificates, the gems themselves all require positive verification.
Brand Authentication
Most, if not all, major brand names from soda pop to clothing, to sporting goods face significant problems due to the fraudulent replication or outright theft of their products.
The largest hurdle to effectively capture this market opportunity(s) has been the lack of quick and positive authenticate in the field. Telling a border guard who suspects a shipment of goods to be fraudulent that authenticating the shipment might take days if not weeks is simply not feasible. The combination of Identex's taggant and Niton's scanner meets the immediacy needed is the perfect if not ultimate solution.
Niton's scanning technology has a built-in database that allows for specific information to be permanently tied to a particular formulation of taggant. This information could be date of issue, ownership, purchase order number, shipping detail, expected location, etc. This database can be updated "on the fly" by a field investigator. The built-in database can be connected to a larger central database via direct dial-up, cell phone, or satellite communications. This allows for two-way communications so that a field investigator can download new taggant signatures along with associated database information as well as uploading their findings in the field.
5
Sure Trace and Identex's management team includes 10 seasoned veterans that posses better than 200 years of sales and management experience. This management team has been assembled to manage the channel distribution partners and pursue specific industrial verticals as they relate to various authentication markets.
Identex filed a process patent application with the U.S. Patent and Trademark Office on March 8, 2002, as application number10/094,297, entitled "Asset and Brand Protection System Using X-Ray Fluorescence Analysis of Unique Elemental Taggant." This application covers the process by which Identex tags and identifies an item using an x-ray fluorescent and spectrographic analyzer and maintains a database of the items tagged with taggants.
Identex has trade-marked the name "Identex" with the Canadian Intellectual Property Office, as well as the phrase "Marked For Life!" The first trade-mark was registered on February 4, 2003 and the second was registered on February 10, 2003. These trade-marks are valid for 15 years from the respective registration dates and are subject to renewal at that time.
Sure Trace/Identex is not aware of any government regulations that might adversely affect its business.
Identex has spent approximately $467,000 US ($700,309 CDN) on research and development in fiscal year 2001 and $285,000 USD ($428,005 CDN) in fiscal year 2002.
Identex's manufacturing process involves the use of certain chemical compounds. The use of these compounds is regulated and Identex has established a waste management and disposal system that complies with all government environmental regulations.
Employees
As at February 15, 2003 the Corporation had 2 full time employees and Identex had 4 full time employees and 4 contract employees.
ITEM 2. DESCRIPTION OF PROPERTIES
The Company, through its wholly-owned subsidiary, Identification Technologies Inc., leases 2000 square feet of Class B security lab space in Kelowna, British Columbia. The lease was for a three year term, with 2 years and 9 months currently remaining. The monthly cost of this lease is approximately $670 US ($1,000 CDN) plus taxes of approximately $116 US ($173.69 CDN) and common area, tenant improvements and sales tax of approximately $785 US ($1,172.14 CDN).
ITEM 3. LEGAL PROCEEDINGS
The Company currently is not a party to any litigation.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Not applicable.
PART II
STATEMENTS WHEREVER THEY APPEAR IN THIS REPORT. OUR ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THIS REPORT.
7
Result of Operations
During the twelve month period ended December 31, 2002, we had revenues of $409,327 compared to $596,996 for fiscal year 2001. We incurred general and administrative expenses of $650,443 for the year ended December 31, 2002 and $1,002,738 for the year ended December 31, 2001. Net Loss in the year ended December 31, 2002 was ($745,708) or ($0.008) per share compared to net loss of ($925,651) or ($.05) per share in the same period 2001. We recognize revenues as they are earned, not necessarily as they are collected. Direct costs such as hardware and software purchases for resale and subcontracting fees are classified as cost of goods sold. General and administrative expenses include salaries, accounting, advertising, contract labor, bank charges, entertainment, equipment rental, insurance, legal, supplies, pay roll taxes, postage, professional fees, telephone and travel. The decrease in general and administrative expenses during fiscal year 2002 as compared to fiscal year 2001 is primarily attributable to tighter cost controls.
Liquidity and Capital Resources.
The auditor's report accompanying our audited financial statements for the year ended December 31, 2002 indicated that there is substantial doubt respecting our ability to continue as a going concern. The qualification was due to our need to generate positive cash flow from operations or obtain additional financing. During the year ended December 31, 2002, we were generated negative cash flow of ($38,551). No assurance can be given that we will be able to achieve positive cash flows or obtain additional financing for operations.
We have incurred losses since the inception of our business. We expect to continue to incur losses until we increase our revenues while reducing costs of good sold and general and administrative expenses. We have been dependent on additional funding from lenders and investors to conduct operations. At December31, 2002 we had a retained deficit of ($6,200,473) compared to retained deficit of ($5,454,765) at and December 31, 2001. As of December 31, 2002, we had total current assets of $-0- and total current liabilities of $716,057 or negative working capital of ($716,057). At December 31, 2001, we had total current assets of $182,170 and total current liabilities of$788,383 or negative working capital of ($606,213). We currently have no material commitments for capital expenditures. We will continue to evaluate possible acquisitions or investments in businesses, products and technologies that are complimentary to ours. These may require the use of cash which would require us to seek financing.
We currently do not have sufficient cash or working capital to meet our operating needs. We will need $700,000 to meet the operating needs of Sure Trace and our subsidiary Identex. We will have to sell additional equity or debt securities or seek additional credit facilities to fund acquisition-related or other business costs. Sales of additional equity or convertible debt securities would result in additional dilution to our stockholders. We may also need to raise additional funds in order to support more rapid expansion, develop new or enhanced services or products, respond to competitive pressures, or take advantage of unanticipated opportunities. Our future liquidity and capital requirements will depend upon numerous factors, including the success of our service offerings and competing technological and market developments.
We will not undertake any company-sponsored research and development during the next twelve month period. Any research and development work that will be undertaken will be done at our customer's expense.
( There is much more to this filing but I wanted to shorten it as much as possible)
Notification of inability to timely file Form 10-Q or 10-QSB 2003-05-15
Notification of inability to timely file Form 10-Q or 10-QSB 2003-08-15
a.
(1) Resignation of Accountant
On May 22, 2003, the Board of Directors of Sure Trace Security Corporation (the "Corporation") dismissed Michael Johnson & Co., the Company's independent auditors. Michael Johnson & Co. audited the Company's consolidated financial statements for our two most recent fiscal years ended December 31, 2002.
The report of Michael Johnson & Co. accompanying the audit for our two most recent fiscal years ended December 31, 2002 was not qualified or modified as to audit scope or accounting principles. However, such report did contain a modification with regards to the entity's ability to continue as a going concern.
During our two most recent fiscal years ended December 31, 2002, and during the interim period up through May 22, 2003, there were (1) no disagreements between the Company and Michael Johnson & Co. on any matter of accounting principles or practices, financial statements disclosure, or auditing scope or procedure; (2) no reportable events as such term is defined by paragraph (a)(1)(iv) of Item 304 of Regulation S-B promulgated by the Securities and Exchange Commission ("Regulation S-B"); and (3) no matters identified by Michael Johnson & Co. involving our internal control structure or operations which was considered to be material weakness.
Michael Johnson & Co. reviewed the original Form 8-K, which the Corporation filed with the Securities and Exchange Commission on May 29,2003, with respect to the previously mentioned disclosure and was asked to furnish a letter with respect thereto. As of the date of this filing, the Corporation has not received any letter from Michael Johnson & Co. regarding to the disclosures made in the original Form 8-K.
a.
(2) Engagement of New Accountant
On May 22, 2003, the Board of Directors of the Company appointed Grant Thornton LLP as the Company's new independent accountants.
During its two most recent fiscal years ended December 31, 2002, the Company did not consult with Grant Thornton regarding the application of accounting principles to a specified transaction, either completed or proposed, or the type of opinion that might be rendered regarding our financial statements, nor did the Company consult with Grant Thornton with respect to any accounting disagreement or any reportable event as such term is defined by paragraph (a)(1)(iv) of Item 304 of Regulation S-B
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2004-03-30
(4/15/2004)
Code of Ethics
For Senior Financial Officers
And the Principal Executive Officer of:
Sure Trace Security Corporation
Sure Trace Security Corporation (the "Company") is committed to conducting its business in compliance with all applicable laws and regulations and in accordance with high standards of business conduct. The Company strives to maintain the highest standard of accuracy, completeness, and disclosure in its financial dealings, records, and reports. These standards serve as the basis for managing the Company's business, for meeting the Company's duties to its stockholders, and for maintaining compliance with financial reporting requirements. The Company's principal executive officer and all of the Company's senior financial executives must agree to comply with the following principles and will promote and support this Code of Ethics, and comply with the following principles. For the purposes of this Code of Ethics, "senior financial officers" means the Company's principal financial officer and controller or principal accounting officer, or persons performing similar functions.
The principal executive officer and each senior financial officer of the Company will adhere to and advocate the following principals and responsibilities governing his or her professional and ethical conduct, each to the best of his or her knowledge and ability.
1.
Act with honesty and integrity and in an ethical manner, avoiding actual or apparent conflicts of interest in personal and professional relationships.
2.
Promptly disclose to the Company, through the General Counsel, Chief Accounting Officer, or Audit Committee, any material transaction or relationship that reasonably could be expected to give rise to a conflict of interest between personal and professional relationships.
3.
Provide full, fair, accurate, timely, and understandable disclosure in reports and documents that the Company files with, or submits to, the SEC and in other public communications made by the Company.
4.
Provide constituents with information that is accurate, complete, objective, relevant, timely, and understandable.
5.
Comply with applicable rules and regulations of federal, state, and local governments and other appropriate private and public regulatory agencies.
6.
Act in good faith, responsibly, with due care, competence and diligence, without misrepresenting material facts or allowing my independent judgment to be subordinated.
7.
Use good business judgment in the processing and recording of all financial transactions.
8.
Respect the confidentiality of information acquired in the course of the Company's business, except when authorized or otherwise legally obligated to disclose such information, and not use confidential information acquired in the course of work for personal advantage.
9.
Share knowledge and maintain skills important and relevant to his or her constituents' needs.
10.
Promote ethical behavior among constituents in the work environment.
11.
Achieve responsible use of and control over all assets and resources employed or entrusted to him or her.
12.
Comply with generally accepted accounting standards and practices, rules, regulations and controls.
13.
Ensure that accounting entries are promptly and accurately recorded and properly documented and that no accounting entry intentionally distorts or disguises the true nature of any business transaction.
14.
Maintain books and records that fairly and accurately reflect the Company's business transactions.
15.
Sign only those documents that he or she believes to be accurate and truthful.
16.
Devise, implement, and maintain sufficient internal controls to assure that financial record keeping objectives are met.
17.
Prohibit the establishment of any undisclosed or unrecorded funds or assets for any purpose and provide for the proper and prompt recording of all disbursements of funds and all receipts.
18.
Not knowingly be a party to any illegal activity or engage in acts that are discreditable to my profession or the Company.
19.
Respect and contribute to the legitimate and ethical objects of the Company.
20.
Engage in only those services for which he or she has the necessary knowledge, skill, and expertise.
21.
Not make, or tolerate to be made, false or artificial statements or entries for any purpose in the books and records of the Company or in any internal or external correspondence, memoranda, or communication of any type, including telephone or wire communications.
22.
Report to the Company, through the General Counsel, Chief Accounting Officer, or Audit Committee any situation where the Code of Ethics, the Company's standards, or the laws are being violated.
Those required to comply with this Code of Ethics understand that failure to comply with this Code of Ethics will not be tolerated by the Company and that deviations there from or violations thereof will result in serious consequences, which may include, but may not be limited to, serious reprimand, dismissal or other legal actions.
The parties subject to this Code of Ethics will acknowledge in writing that they agree to comply with these requirements.
Notification of inability to timely file Form 10-Q or 10-QSB 2004-05-17
Notification of inability to timely file Form 10-Q or 10-QSB 2004-11-12
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2005-03-31
(5/26/2005 Michael Cimino comes on board)
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report: May 26, 2005
---------------------------------
(Date of earliest event reported)
Sure Trace Security Corporation
(A Utah Corporation)
------------------------
(Exact name of registrant as specified in its chapter)
Item 5.02 - Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
----------------------------------------------------------------------
On May 25, 2005, the Company appointed Michael Cimino to the positions of President of the Company and Vice Chairman of the Board of Directors. On the same date, the Company appointed Ron Bell to the position of head of Operations and Sales. James MacKay will provide continued services under the title ofFounder
(8/11/2005 Richard Epstein buys 133,777,778 shares of common stock}
[Paper]Registration of sale of securities [Regulation D and Section 4(6) of the Securities Act of 1933], item 04
Film# = 05066949 2005-09-23
(I do not have access to the regdex filing, could someone supply it?}
(Short summary IMO}
Since it’s inception White Cloud Exploration and Cormax, the company was in the development stage with no direction. When Suretrace acquired Identex on January 29th 2003 is when the company Suretrace found it’s purpose.
(The next part – Suretrace’s smart decision to go after China market}
Suretrace Security Inc.
Part 2
Suretrace Security’s bold and smart decision to go after China market
Before I go into the recent events that lead up to the signing of the service agreement that True Product ID Technology (Beijing) Limited signed with the National Brand Cartel Anti-Counterfeiting Cooperation Network – Brand315 where the contract calls for the joint venture to mark 2 billion labels of the top brands in China, I want to go back for a moment and give a timeline of events leading up to 5/26/2005 when the company’s new President and Vice Chair Mr. Michael Cimino took over.
As I stated in part one, the brief company history from sec filings. Here is the timeline:
1983 – White Cloud Exploration – to seek profitable business opportunities.
1991 – White Cloud merger with ATI was cancelled due to accounting difficulties.
1997 – William C Meier acquired common stock in White Cloud Exploration.
2000 – White Cloud Exploration acquires Cormax Business Solutions LTD.
2002 – Identex files patent in U.S. App# 10/094,297
2003 – White Cloud Exploration acquired all of the issued and outstanding shares
Of Identification Technologies Inc. a private Alberta corporation (“Identex”}
Immediately following the acquisition if Identex , the company changed its name to Sure Trace Security Corporation.
Now what becomes interesting is what happened between the acquisition of Identex in January of 2003 up to May 26th 2005 when Michael Cimino took over as President. Here is the information that I have looked at and my personal opinion of what happened.
After the Identex acquisition, Suretrace decided to go after the existing markets that Identex had been working on. These markets included loss prevention, authentification and anti-counterfeiting products throughout Canada on a direct sale basis. The client list included Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Toronto Transit and Atomic Energy of Canada.
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion; extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
Continuing with my thought from the previous paragraph, after the Identex acquisition, Sure Trace decided to go after these existing markets. Then on September 11th 2001 when The United States was attacked by terrorists, the company included in their marketing plan security issues such as passports, immigration documents, currency, personnel id badges, airspace security, authentification of art collections, lottery tickets, casino checks and playing cards. With the use of Identex’s taggant and Niton’s scanner. The company admitted at the time that the Niton scanner was not the ultimate solution.
In my opinion the marketing of loss prevention, authentification and anti-counterfeiting products to Identex’s existing clients mentioned earlier was just not bringing in enough revenue or maybe Sure Trace realized at that time that the biggest market for their product line was in China. I believe the latter is the case. This I believe is when Mr. James Mackay decided his vision for the company would be changed. The new focus would be on the biggest market in the world – China. I do believe that some of Identex’s clients still have the potential of being clients of Sure Trace in the future, however once Sure Trace is recognized as the Chinese Government’s standard solution for anti-counterfeiting efforts, authentification, tracking and many other uses, then and only then will we be able to prove to the rest of the world the unique value and effectiveness of our products and services.
Continuing with the timeline:
5/2003 – Resignation of old Accountant and engagement of new accountant.
4/2004 – Code of ethics for senior financial officers and the principal executive officer of Sure Trace established.
This is the time period when I believe Mr. James Mackay realized he had a big problem on his hands. He had financial officers and executive officers of the company trying to destroy the company and steal the technology and clients.
5/26/2005 Mr. Michael Cimino is retained as the new President and Vice-Chairman. Mr. Cimino, will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners.
(It is very interesting that on 5/26/2005 Mr. Michael Cimino is appointed new President and Vice-Chairman and the very next day the company comes out with this press release:)
Sure Trace Team En Route to Beijing, China; Group Includes Chairman, New Head of Operations & Sales, CTO and Other Outside Technical Advisors - Multiple Demonstrations Planned
May 27, 2005
PHILADELPHIA--(BUSINESS WIRE)--May 27, 2005--Sure Trace Security Corporation (OTC:SSTY) has today announced that, in response to a request from our Chinese associates, it is dispatching its presentation team to Beijing, China. The Chairman is already en route and plans to stay in China, at the request of our hosts, for an extended period of time, in order to be the company's cultural liaison as the parties take the first steps in building what the company hopes is a long term relationship.
He will be joined over the next few days by the newly appointed head of Operations & Sales, Mr. Ron Bell, as well as by our Chief Technology Officer, Mr. Grahame Entwistle. The team will also include additional members made up of expert technical & scientific advisors who are well versed in the specific technology that the company will demonstrate.
After the initial phase and demonstration stage, the company's new President and Vice-Chair, Mr. Michael Cimino, will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners, with the input and assistance of the full team.
About Sure Trace Security Corporation
Sure Trace is one of the premier systems integrators for anti-counterfeiting and security surveillance applications and a world-class provider of integrated tracking devices. The company intends to deliver turnkey solutions, both onshore and offshore, 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.
It is my opinion that James Mackay had been working with Mr. Cimino for quite some time. The time between April of 2004 when the company established the code of ethics up to the date that Cimino came on board, I believe that they were working together in the secret talks to bring on Cimino as President and restructure the company. Ask yourself this question, how the heck can the company hire Cimino on 5/26/2005 and then come out of the gate the day after on 5/27/2005 with a Sure Trace Team en route to Beijing, a new head of operations and sales Mr. Ron Bell, a new CTO Mr. Grahame Entwistle and other outside technical and scientific advisors. We have multiple demonstrations planned. Also how could Mackay and Cimino have developed relationships with its Chinese joint venture partners Sure Trace Asia Ltd and Suneray all in just one day. It is obvious that the two had been working on restructuring the company for the entire year between April 2004 and May of 2005.
(From the date of the May 27th press release and Sure Trace sending their team en route to Beijing, I believe they knew they needed to strengthen their relationships with the Chinese joint venture partners. As Cimino stated…while others may still be just knocking at the door, the Chinese Government itself, through Suneray has already invited us in… So in less than a month on June 17th 2005 Sure Trace comes out with another huge press release and more major accomplishments.)
Sure Trace Strengthens Chinese Connection; Company Increases Its Equity Stake In China Joint Venture Vehicle; Sure Trace Asia Ltd. To Become Wholly Owned Subsidiary
June 17, 2005
PHILADELPHIA--(BUSINESS WIRE)--June 17, 2005--
New CEO Added; China Demos Successfully Completed
Sure Trace Security Corporation (OTC:SSTY) (the "Company") announced that, because of its completion of a highly successful demonstration of the Company's capabilities in Beijing, China, it has been able to reshape the framework of its China joint venture. The Company will now hold a majority interest in the joint venture vehicle as opposed to a minority position.
The vehicle, Sure Trace Asia Ltd. (STA), will become a subsidiary of SSTY. The Company will now own 85% of STA instead of 40%. STA and Beijing Suneray Communication Co. Ltd. (Suneray) have an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong. The joint venture will share the costs and profits on a 50/50 basis.
Mr. William Chan, of Hong Kong, who was instrumental in bringing the Suneray deal to STA, has also agreed to become the CEO of both SSTY and STA. He will also sit on both Boards and will be located in the Company's Hong Kong office. Mr. Cimino will be President and Vice-Chairman of both companies and operate out of the Company's home office in Philadelphia.
Suneray, incorporated in Beijing, China, is legally authorized by People's Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the People's Republic of China.
Mr. Cimino, the Company President said, "This is a promising deal for the shareholders of Sure Trace. We have formed a joint venture with a major gatekeeper for the Chinese government, for the introduction of the types of technologies that we provide. In effect, the door to China is wide open to us... while others may still be just knocking at the door, the Chinese government itself, through Suneray, has already invited us in... That gives us a strong competitive advantage... especially given that we have successfully completed the demonstration stage of the process."
"Now that we also own a majority interest in STA, I believe we have further protected the interests of Sure Trace's shareholders and increased the value of the Company's holdings," said Cimino.
(Wow things are really heating up now! With highly successful demonstrations in Beijing, the reshaping of the China joint venture 85% rather than 40% as a result of those successful demonstrations, Mr. William Chan of Hong Kong now on board, who in my opinion is a huge part of our success and it is stated that Suneray is legally authorized by Peoples Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the Peoples Republic of China. “The door to China is wide open to us.”)
As part of Sure Trace’s vision to provide a complete anti-counterfeiting, brand and product authentication and security products, they have been working on acquiring Globe Staff Consulting and Sensor Media Corporation. It was stated that Sure Trace chose to concentrate on the efforts in closing its deal with Suneray first and then using the connections developed through Suneray to build markets for SSTY in China and the ability to obtain contracts for the fingerprint imaging systems, solar collection systems and TV back-plane systems.
China Joint Venture Meets With 2008 Chinese Olympic Officials; Sure Trace Completes Globe Staff Acquisition; Acquisition Restructured; Company Issues Restricted Shares As Purchase Price
July 12, 2005
PHILADELPHIA--(BUSINESS WIRE)--July 12, 2005--Sure Trace Security Corporation (OTC:SSTY) is pleased to announce that it has completed the acquisition of Globe Staff Consulting (GSC).
Unlike the prior acquisition agreement, the main consideration for the purchase was the issuance of restricted stock. The restructured agreement reduced the cash requirements contained in the earlier purchase document, which will free up resources for the Company's China initiative and other endeavors.
Michael Cimino, the Company's President said, "Our Chairman, Jim Mackay, was instrumental in this renegotiation of the acquisition price. Not only did the Company drastically reduce the purchase price, the Company was able to deliver another technology to the Chinese market that it has been clamoring for and to further enhance our overall perceived usefulness to the Joint Venture. We recognized a market need and found the way to deliver what they wanted."
Recently, GSC has conducted successful demonstrations of its Globe Track technology with two major international security companies, within the past few weeks and both companies have expressed a strong interest regarding GSC's products and services. Additionally, the French Government has referred a major industry representative to SSTY, via its GSC connections regarding a bold anti-counterfeiting measure aimed at the worldwide retail goods market.
Additionally, our Chinese joint venture, Sure Trace Technology (Beijing) Limited, has also met with the 2008 Chinese Olympic Committee. Our partner Suneray had presented our anti-counterfeit technology to the Committee for use in tickets, merchandise and credentials as well as GSC's Geo Track technology for use involving the participants in the games.
Also, our Chinese counterpart, Suneray has indicated to our management that several companies will be positioned to begin exploiting the Joint Venture's solutions involving tobacco, documents, to produce and other retail items.
(The next week Sure Trace enters into a binding agreement with Sensor Media Corp}
Sure Trace Licenses Additional Technology For Use In China; Company Also Offers Details Of Previous Acquisitions; Hires CFO
July 27, 2005
12:04 ET PHILADELPHIA--(Business Wire)--Jul 27, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has today announced that, it has entered into a binding agreement with Sensor Media Corporation (Sensor) through its subsidiaries, to utilize Sensor's licensed technology in China, Hong Kong and Macau. It has also been granted the sole option to acquire Sensor's threesubsidiaries described below within 120 days of the execution of the agreement upon mutually acceptable terms.
Sensor has indicated that it owns the Intellectual Property rights to various technologies which include solar collection systems, fingerprint imaging systems, and TV back-Plane systems. These technologies are held through Sensor's subsidiaries -- SMC Solar, SMC Biometrics and SMC TV. Sensor has licensed worldwide exclusive manufacturing and distribution rights for these technologies and has granted exclusive sub-licenses to its three wholly owned subsidiaries.
Sensor's subsidiaries (SMC Solar; SMC Biometrics; and SMC TV) have, in turn, granted SSTY an exclusive sub-license to utilize, market and also sub-license these technologies within certain territories and on the terms described below:
SMC Solar: Exclusive rights in China, Hong Kong & Macau (for solar collection technology). (a)
SMC Biometrics: Exclusive rights in China, Hong Kong & Macau (for fingerprint imaging technology). (b)
SMC TV: Exclusive rights in China, Hong Kong & Macau (for TV back-Plane technology). (b)
(a) After 120 days from the execution of the Agreement, the rights will become worldwide except for the following territories, where SMC already has existing contracts: Japan, Australia, New Zealand, Europe, Soviet Union and Africa).
(b) After 120 days, the rights will become worldwide.
Also, in response to inquiries from its shareholders SSTY wanted to clarify the details and chronology of the Globe Staff and Sensor acquisitions.
SSTY previously announced letters of intent with SMC Biometric and Globe StaffConsulting (GSC). Since then, SSTY chose to concentrate its efforts in closing its deal with Suneray Beijing, and then using the connections developed/introduced through Suneray to build markets for the SSTY, SMC Biometric and GSC products/technologies.
The terms of the prior acquisition agreements were not fully met, after signing, by the parties, so current management revisited the situations and found a way to restructure the deals to the Company's benefit and to the approval of both GSC and Sensor. In the case of the GSC deal, instead of paying GSC six million ($6,000,000) dollars as consideration for the purchase, the Company was able to acquire 100% of the stock of GSC in exchange for the assumption of certain liabilities of GSC which should amount to less than $600,000. The company also issued GSC 242.5 million restricted shares of SSTY common stock as consideration for the acquisition.
SSTY has also today announced that it has resigned an updated and renegotiated agreement with SMC Biometric Inc. and its parent company Sensor Media Corporation. Under the terms of the LOI, SSTY has a four month option to close the acquisition which management believes will allow it sufficient time to secure revenue contracts for the fingerprint technology.
With the Suneray agreement now executed and in effect SSTY has once again focused its attention to building out its line of security products. In fact SSTY has commenced talks with its Chinese partners directly and European connections via GSC. In effect, SSTY now has the time to enter into revenue producing contracts before it has to fully pay for the acquisitions.
The Company also today announced the hiring of Joseph J. Repko, CPA as its CFO.
Mr. Repko brings many talents to the Company. He founded a full service accounting firm in 1984 with clients in a wide range of industries and services including manufacturing, video production, publishing, banking, financial, medical services, mining, automotive services, nonprofit and government entities. The services provided for these clients include compilation review, audit, tax, MIS consultation, SEC filings, IPO's and foreign operations. It has offices in Springfield, Pennsylvania (a suburb of Philadelphia) and in Jupiter Florida. Mr. Repko will work both out of the Philadelphia headquarters and a Florida location, near the Company's auditors.
(Big things in the works now, new products, joint ventures in China!)
(Next Live Television Demo Planned)
Sure Trace China Joint Venture Receives Governmental Approval; Live Television Demo Planned
July 29, 2005
09:58 ET PHILADELPHIA--(Business Wire)--Jul 29, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) is pleased to announce that it has fully satisfied all the steps required by the Chinese government, both financial and technical, and has gained official approval of its joint venture, Sure Trace Technology (Beijing) Limited (the "JV"). The official signing, ratifying the venture company, took place in Beijing yesterday. In an unusual step, the official signing ceremony was carried live on the government owned national television station.
James Mackay, the Company's Chairman said, "After many months of often intense efforts, I am extremely pleased to finally announce that our technology has qualified and that the Company has met all financial requirements."
Additionally, the Company has announced that within the next week, in Beijing, it is planning a public demonstration of the JV's technology which will also be telecast live on Chinese national television.
(This next two press releases are the last ones before the sec halt, It is funny that James Mackay and William Chan who both participated in the joint venture signing ceremony on Live Television and are announcing live public demonstrations of its technology with an impressive line up of guests, with all of this happening the stock price is ready to explode, and it did. Unfortunately a couple days later on August 3rd we were halted.
Sure Trace China Joint Venture Announces List Of Scheduled Attendees For Live National TV Demo
August 1, 2005
PHILADELPHIA--(Business Wire)--Aug 01, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has planned live public demonstration, of its technology, which it expects to be telecast on Chinese national television (CCTV-1) within the next 10 days. Representatives of the government, customs, military, commercial banking and tobacco industries as well as representatives of the 2008 Olympic Committee are scheduled to be in attendance in Beijing, for the demonstration.
The Company, along with Beijing Suneray Zexin Technology Limited (Suneray) who has an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong, together formed Sure Trace Technology (Beijing) Limited (the "JV").
Michael Cimino, the Company's President and Vice-Chairman said, "Mr. James Mackay our Chairman and Mr. William Chan our CEO who both participated in last week's JV signing ceremony on live TV, have, through Suneray, our Joint venture partner, arranged quite an impressive line-up of guests... all of whom who have already been in discussions with Suneray concerning the commercial uses of the technology."
Sure Trace Plans Live Demo in Philippines; In Addition To Demos Planned In Beijing; Company Chairman Concludes Series Of Meetings In Philippines
August 2, 2005
10:22 ET PHILADELPHIA--(Business Wire)--Aug 02, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has today announced that, in response to a request from associates in the Philippines, it had dispatched its Chairman to conduct a series of meetings with government and industry officials.
As a result of these meetings, a second live television demonstration of the Company's technology will also be conducted in the Philippines in close proximity to the planned Beijing demo.
The Company also announced that it is switching the hosting of its web site from Canada to the US over the next few days and the site may be temporarily unavailable. When it returns, there will be pictures and press coverage of the JV signing ceremonies in Beijing and ultimately, video of the live television demonstrations.
(Sure Trace is halted from trading of its common stock by the SEC} Grrrrrrrrrrrrrrr
Sure Trace Responds to SEC Actions
August 4, 2005
9:00 ET PHILADELPHIA--(Business Wire)--Aug 04, 2005--
Sure Trace (OTC:SSTY.u) denies that there are any inaccuracies or inadequacies in news releases that warrant the halt of trading of its common stock by the SEC. The Company believes that the SEC, however well-intentioned, may have been misguided from sources intent on hurting the Company's business.
The Company will cooperate with the SEC and intends to provide the SEC with all relevant documents and other information as requested. Michael Cimino, the Company's CEO states, "After the SEC has had an opportunity to communicate with us and review any pertinent materials relating to our press releases, we are confident that they will agree that our stock should resume trading."
( I will end this part of my project for now, next I will give my opinions on why we got halted and continue with the stunning progress the company has made since August 3rd)
Let's be realistic folks, the 15c2-11 was filed on 9/20/05 so it will probably be 1/20/06 before we are back trading, hopefully on the otcbb, but I would be happy to go pink before that.
By the way just1, dvd's and cd's etc, are only about 1% of the market, they are only talking about 600 million labels. SSTY has already delivered 2 billion.
Just1fl, Where did you ever get the idea that ssty's technology s-dna does not work on plastic? Most of the products we will be using s-dna on will be plastic. The other company that got a contract for dvd's is just a Hollywood company sponsored by the record and movie industry that cut a deal after Arnold S. went to china and this technology was already accepted as the standard by china way before they came into the picture.
The mm will buy your shares at .006 and sell them to you at .007. When the mm can drive down the pps to .005 then you may have a chance to get in at .006 or .0065. But IMO the mm is not accumulating any shares at this point they are just matching trades, so for every seller at .006 there is a buyer at .007.
We were otcbb back in 2003, that ended in 2004 when prior management, cfo tried to damage the company, then we went down to pinks, the company has been preparing to go back on the otcbb and announced that was their intentions in the recent videotaped interview with James Mackay CEO.
I have been in and out of gzfx several times, some great news in the past few months, however they have so many billions of shares pledged for death spiral financing and so many billions in the float, it is going to take a lot of revenue to make a huge pig fly and at the same time they are in competition with netflix who just dropped their rates. The only way gzfx will make it is if they can capitalize on the retail markets with the games portion of their product.
You are right Tex, there is only one market maker for the stock right now and we are at his or her mercy. The stock of Sure Trace has recently been suspended by the Securities and Exchange Commission, but the suspension has ended by its own terms. 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.
It's really not up to the SEC, it up to the company to file a mountain of paperwork and proof enough to get a market maker to sponser the stock so we can be pink again with a bid and ask. In the recent videotaped interview with the CEO, he stated that they are working on moving directly to the otcbb. That would be great, but I would be happy just being pink for a while, much better than this grey stuff.
Tex, are you referring to the lawsuit against previous executives and financial officers of the company? Or are you referring to the SEC investigation or RCMP investigation?
My opinion on the lawsuit against previous executives and financial officers is a slam dunk, they intentionally tried to run the company into the ground and tried to get ssty in trouble for their own personal gain, it didn't work because we will be the company that gets the contracts with China. If you are talking about the SEC investigation, although I do beleive it is still ongoing, it is my opinion it is about to end. Afterall how could a company put out press releases like they have since August 3rd with many forward looking statements and promises if these statements and promises were not true and factual. As far as the RCMP investigation, I want to learn more about that, to be honest with you I really know nothing about it. It could be something to do with Canada's securities laws and the company violated some part of them or it could have something to do with patent and copyright law. It is really hard to find out info on things in Canada.
Thanks chucker, looking forward to a good week for all of us.
I agree I would like to see the lawsuit over with soon, with the speed they are getting things done in China, I think its just a matter of time, Thanks.
The continued version of part two.
Suretrace Security Inc.
Part 2
Suretrace Security’s bold and smart decision to go after China market
Before I go into the recent events that lead up to the signing of the service agreement that True Product ID Technology (Beijing) Limited signed with the National Brand Cartel Anti-Counterfeiting Cooperation Network – Brand315 where the contract calls for the joint venture to mark 2 billion labels of the top brands in China, I want to go back for a moment and give a timeline of events leading up to 5/26/2005 when the company’s new President and Vice Chair Mr. Michael Cimino took over.
As I stated in part one, the brief company history from sec filings. Here is the timeline:
1983 – White Cloud Exploration – to seek profitable business opportunities.
1991 – White Cloud merger with ATI was cancelled due to accounting difficulties.
1997 – William C Meier acquired common stock in White Cloud Exploration.
2000 – White Cloud Exploration acquires Cormax Business Solutions LTD.
2002 – Identex files patent in U.S. App# 10/094,297
2003 – White Cloud Exploration acquired all of the issued and outstanding shares
Of Identification Technologies Inc. a private Alberta corporation (“Identex”}
Immediately following the acquisition if Identex , the company changed its name to Sure Trace Security Corporation.
Now what becomes interesting is what happened between the acquisition of Identex in January of 2003 up to May 26th 2005 when Michael Cimino took over as President. Here is the information that I have looked at and my personal opinion of what happened.
After the Identex acquisition, Suretrace decided to go after the existing markets that Identex had been working on. These markets included loss prevention, authentification and anti-counterfeiting products throughout Canada on a direct sale basis. The client list included Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Toronto Transit and Atomic Energy of Canada.
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion; extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
Continuing with my thought from the previous paragraph, after the Identex acquisition, Sure Trace decided to go after these existing markets. Then on September 11th 2001 when The United States was attacked by terrorists, the company included in their marketing plan security issues such as passports, immigration documents, currency, personnel id badges, airspace security, authentification of art collections, lottery tickets, casino checks and playing cards. With the use of Identex’s taggant and Niton’s scanner. The company admitted at the time that the Niton scanner was not the ultimate solution.
In my opinion the marketing of loss prevention, authentification and anti-counterfeiting products to Identex’s existing clients mentioned earlier was just not bringing in enough revenue or maybe Sure Trace realized at that time that the biggest market for their product line was in China. I believe the latter is the case. This I believe is when Mr. James Mackay decided his vision for the company would be changed. The new focus would be on the biggest market in the world – China. I do believe that some of Identex’s clients still have the potential of being clients of Sure Trace in the future, however once Sure Trace is recognized as the Chinese Government’s standard solution for anti-counterfeiting efforts, authentification, tracking and many other uses, then and only then will we be able to prove to the rest of the world the unique value and effectiveness of our products and services.
Continuing with the timeline:
5/2003 – Resignation of old Accountant and engagement of new accountant.
4/2004 – Code of ethics for senior financial officers and the principal executive officer of Sure Trace established.
This is the time period when I believe Mr. James Mackay realized he had a big problem on his hands. He had financial officers and executive officers of the company trying to destroy the company and steal the technology and clients.
5/26/2005 Mr. Michael Cimino is retained as the new President and Vice-Chairman. Mr. Cimino, will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners.
(It is very interesting that on 5/26/2005 Mr. Michael Cimino is appointed new President and Vice-Chairman and the very next day the company comes out with this press release:)
Sure Trace Team En Route to Beijing, China; Group Includes Chairman, New Head of Operations & Sales, CTO and Other Outside Technical Advisors - Multiple Demonstrations Planned
May 27, 2005
PHILADELPHIA--(BUSINESS WIRE)--May 27, 2005--Sure Trace Security Corporation (OTC:SSTY) has today announced that, in response to a request from our Chinese associates, it is dispatching its presentation team to Beijing, China. The Chairman is already en route and plans to stay in China, at the request of our hosts, for an extended period of time, in order to be the company's cultural liaison as the parties take the first steps in building what the company hopes is a long term relationship.
He will be joined over the next few days by the newly appointed head of Operations & Sales, Mr. Ron Bell, as well as by our Chief Technology Officer, Mr. Grahame Entwistle. The team will also include additional members made up of expert technical & scientific advisors who are well versed in the specific technology that the company will demonstrate.
After the initial phase and demonstration stage, the company's new President and Vice-Chair, Mr. Michael Cimino, will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners, with the input and assistance of the full team.
About Sure Trace Security Corporation
Sure Trace is one of the premier systems integrators for anti-counterfeiting and security surveillance applications and a world-class provider of integrated tracking devices. The company intends to deliver turnkey solutions, both onshore and offshore, 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.
It is my opinion that James Mackay had been working with Mr. Cimino for quite some time. The time between April of 2004 when the company established the code of ethics up to the date that Cimino came on board, I believe that they were working together in the secret talks to bring on Cimino as President and restructure the company. Ask yourself this question, how the heck can the company hire Cimino on 5/26/2005 and then come out of the gate the day after on 5/27/2005 with a Sure Trace Team en route to Beijing, a new head of operations and sales Mr. Ron Bell, a new CTO Mr. Grahame Entwistle and other outside technical and scientific advisors. We have multiple demonstrations planned. Also how could Mackay and Cimino have developed relationships with its Chinese joint venture partners Sure Trace Asia Ltd and Suneray all in just one day. It is obvious that the two had been working on restructuring the company for the entire year between April 2004 and May of 2005.
(From the date of the May 27th press release and Sure Trace sending their team en route to Beijing, I believe they knew they needed to strengthen their relationships with the Chinese joint venture partners. As Cimino stated…while others may still be just knocking at the door, the Chinese Government itself, through Suneray has already invited us in… So in less than a month on June 17th 2005 Sure Trace comes out with another huge press release and more major accomplishments.)
Sure Trace Strengthens Chinese Connection; Company Increases Its Equity Stake In China Joint Venture Vehicle; Sure Trace Asia Ltd. To Become Wholly Owned Subsidiary
June 17, 2005
PHILADELPHIA--(BUSINESS WIRE)--June 17, 2005--
New CEO Added; China Demos Successfully Completed
Sure Trace Security Corporation (OTC:SSTY) (the "Company") announced that, because of its completion of a highly successful demonstration of the Company's capabilities in Beijing, China, it has been able to reshape the framework of its China joint venture. The Company will now hold a majority interest in the joint venture vehicle as opposed to a minority position.
The vehicle, Sure Trace Asia Ltd. (STA), will become a subsidiary of SSTY. The Company will now own 85% of STA instead of 40%. STA and Beijing Suneray Communication Co. Ltd. (Suneray) have an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong. The joint venture will share the costs and profits on a 50/50 basis.
Mr. William Chan, of Hong Kong, who was instrumental in bringing the Suneray deal to STA, has also agreed to become the CEO of both SSTY and STA. He will also sit on both Boards and will be located in the Company's Hong Kong office. Mr. Cimino will be President and Vice-Chairman of both companies and operate out of the Company's home office in Philadelphia.
Suneray, incorporated in Beijing, China, is legally authorized by People's Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the People's Republic of China.
Mr. Cimino, the Company President said, "This is a promising deal for the shareholders of Sure Trace. We have formed a joint venture with a major gatekeeper for the Chinese government, for the introduction of the types of technologies that we provide. In effect, the door to China is wide open to us... while others may still be just knocking at the door, the Chinese government itself, through Suneray, has already invited us in... That gives us a strong competitive advantage... especially given that we have successfully completed the demonstration stage of the process."
"Now that we also own a majority interest in STA, I believe we have further protected the interests of Sure Trace's shareholders and increased the value of the Company's holdings," said Cimino.
(Wow things are really heating up now! With highly successful demonstrations in Beijing, the reshaping of the China joint venture 85% rather than 40% as a result of those successful demonstrations, Mr. William Chan of Hong Kong now on board, who in my opinion is a huge part of our success and it is stated that Suneray is legally authorized by Peoples Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the Peoples Republic of China. “The door to China is wide open to us.”)
As part of Sure Trace’s vision to provide a complete anti-counterfeiting, brand and product authentication and security products, they have been working on acquiring Globe Staff Consulting and Sensor Media Corporation. It was stated that Sure Trace chose to concentrate on the efforts in closing its deal with Suneray first and then using the connections developed through Suneray to build markets for SSTY in China and the ability to obtain contracts for the fingerprint imaging systems, solar collection systems and TV back-plane systems.
China Joint Venture Meets With 2008 Chinese Olympic Officials; Sure Trace Completes Globe Staff Acquisition; Acquisition Restructured; Company Issues Restricted Shares As Purchase Price
July 12, 2005
PHILADELPHIA--(BUSINESS WIRE)--July 12, 2005--Sure Trace Security Corporation (OTC:SSTY) is pleased to announce that it has completed the acquisition of Globe Staff Consulting (GSC).
Unlike the prior acquisition agreement, the main consideration for the purchase was the issuance of restricted stock. The restructured agreement reduced the cash requirements contained in the earlier purchase document, which will free up resources for the Company's China initiative and other endeavors.
Michael Cimino, the Company's President said, "Our Chairman, Jim Mackay, was instrumental in this renegotiation of the acquisition price. Not only did the Company drastically reduce the purchase price, the Company was able to deliver another technology to the Chinese market that it has been clamoring for and to further enhance our overall perceived usefulness to the Joint Venture. We recognized a market need and found the way to deliver what they wanted."
Recently, GSC has conducted successful demonstrations of its Globe Track technology with two major international security companies, within the past few weeks and both companies have expressed a strong interest regarding GSC's products and services. Additionally, the French Government has referred a major industry representative to SSTY, via its GSC connections regarding a bold anti-counterfeiting measure aimed at the worldwide retail goods market.
Additionally, our Chinese joint venture, Sure Trace Technology (Beijing) Limited, has also met with the 2008 Chinese Olympic Committee. Our partner Suneray had presented our anti-counterfeit technology to the Committee for use in tickets, merchandise and credentials as well as GSC's Geo Track technology for use involving the participants in the games.
Also, our Chinese counterpart, Suneray has indicated to our management that several companies will be positioned to begin exploiting the Joint Venture's solutions involving tobacco, documents, to produce and other retail items.
(The next week Sure Trace enters into a binding agreement with Sensor Media Corp}
Sure Trace Licenses Additional Technology For Use In China; Company Also Offers Details Of Previous Acquisitions; Hires CFO
July 27, 2005
12:04 ET PHILADELPHIA--(Business Wire)--Jul 27, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has today announced that, it has entered into a binding agreement with Sensor Media Corporation (Sensor) through its subsidiaries, to utilize Sensor's licensed technology in China, Hong Kong and Macau. It has also been granted the sole option to acquire Sensor's threesubsidiaries described below within 120 days of the execution of the agreement upon mutually acceptable terms.
Sensor has indicated that it owns the Intellectual Property rights to various technologies which include solar collection systems, fingerprint imaging systems, and TV back-Plane systems. These technologies are held through Sensor's subsidiaries -- SMC Solar, SMC Biometrics and SMC TV. Sensor has licensed worldwide exclusive manufacturing and distribution rights for these technologies and has granted exclusive sub-licenses to its three wholly owned subsidiaries.
Sensor's subsidiaries (SMC Solar; SMC Biometrics; and SMC TV) have, in turn, granted SSTY an exclusive sub-license to utilize, market and also sub-license these technologies within certain territories and on the terms described below:
SMC Solar: Exclusive rights in China, Hong Kong & Macau (for solar collection technology). (a)
SMC Biometrics: Exclusive rights in China, Hong Kong & Macau (for fingerprint imaging technology). (b)
SMC TV: Exclusive rights in China, Hong Kong & Macau (for TV back-Plane technology). (b)
(a) After 120 days from the execution of the Agreement, the rights will become worldwide except for the following territories, where SMC already has existing contracts: Japan, Australia, New Zealand, Europe, Soviet Union and Africa).
(b) After 120 days, the rights will become worldwide.
Also, in response to inquiries from its shareholders SSTY wanted to clarify the details and chronology of the Globe Staff and Sensor acquisitions.
SSTY previously announced letters of intent with SMC Biometric and Globe StaffConsulting (GSC). Since then, SSTY chose to concentrate its efforts in closing its deal with Suneray Beijing, and then using the connections developed/introduced through Suneray to build markets for the SSTY, SMC Biometric and GSC products/technologies.
The terms of the prior acquisition agreements were not fully met, after signing, by the parties, so current management revisited the situations and found a way to restructure the deals to the Company's benefit and to the approval of both GSC and Sensor. In the case of the GSC deal, instead of paying GSC six million ($6,000,000) dollars as consideration for the purchase, the Company was able to acquire 100% of the stock of GSC in exchange for the assumption of certain liabilities of GSC which should amount to less than $600,000. The company also issued GSC 242.5 million restricted shares of SSTY common stock as consideration for the acquisition.
SSTY has also today announced that it has resigned an updated and renegotiated agreement with SMC Biometric Inc. and its parent company Sensor Media Corporation. Under the terms of the LOI, SSTY has a four month option to close the acquisition which management believes will allow it sufficient time to secure revenue contracts for the fingerprint technology.
With the Suneray agreement now executed and in effect SSTY has once again focused its attention to building out its line of security products. In fact SSTY has commenced talks with its Chinese partners directly and European connections via GSC. In effect, SSTY now has the time to enter into revenue producing contracts before it has to fully pay for the acquisitions.
The Company also today announced the hiring of Joseph J. Repko, CPA as its CFO.
Mr. Repko brings many talents to the Company. He founded a full service accounting firm in 1984 with clients in a wide range of industries and services including manufacturing, video production, publishing, banking, financial, medical services, mining, automotive services, nonprofit and government entities. The services provided for these clients include compilation review, audit, tax, MIS consultation, SEC filings, IPO's and foreign operations. It has offices in Springfield, Pennsylvania (a suburb of Philadelphia) and in Jupiter Florida. Mr. Repko will work both out of the Philadelphia headquarters and a Florida location, near the Company's auditors.
(Big things in the works now, new products, joint ventures in China!)
(Next Live Television Demo Planned)
Sure Trace China Joint Venture Receives Governmental Approval; Live Television Demo Planned
July 29, 2005
09:58 ET PHILADELPHIA--(Business Wire)--Jul 29, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) is pleased to announce that it has fully satisfied all the steps required by the Chinese government, both financial and technical, and has gained official approval of its joint venture, Sure Trace Technology (Beijing) Limited (the "JV"). The official signing, ratifying the venture company, took place in Beijing yesterday. In an unusual step, the official signing ceremony was carried live on the government owned national television station.
James Mackay, the Company's Chairman said, "After many months of often intense efforts, I am extremely pleased to finally announce that our technology has qualified and that the Company has met all financial requirements."
Additionally, the Company has announced that within the next week, in Beijing, it is planning a public demonstration of the JV's technology which will also be telecast live on Chinese national television.
(This next two press releases are the last ones before the sec halt, It is funny that James Mackay and William Chan who both participated in the joint venture signing ceremony on Live Television and are announcing live public demonstrations of its technology with an impressive line up of guests, with all of this happening the stock price is ready to explode, and it did. Unfortunately a couple days later on August 3rd we were halted.
Sure Trace China Joint Venture Announces List Of Scheduled Attendees For Live National TV Demo
August 1, 2005
PHILADELPHIA--(Business Wire)--Aug 01, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has planned live public demonstration, of its technology, which it expects to be telecast on Chinese national television (CCTV-1) within the next 10 days. Representatives of the government, customs, military, commercial banking and tobacco industries as well as representatives of the 2008 Olympic Committee are scheduled to be in attendance in Beijing, for the demonstration.
The Company, along with Beijing Suneray Zexin Technology Limited (Suneray) who has an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong, together formed Sure Trace Technology (Beijing) Limited (the "JV").
Michael Cimino, the Company's President and Vice-Chairman said, "Mr. James Mackay our Chairman and Mr. William Chan our CEO who both participated in last week's JV signing ceremony on live TV, have, through Suneray, our Joint venture partner, arranged quite an impressive line-up of guests... all of whom who have already been in discussions with Suneray concerning the commercial uses of the technology."
Sure Trace Plans Live Demo in Philippines; In Addition To Demos Planned In Beijing; Company Chairman Concludes Series Of Meetings In Philippines
August 2, 2005
10:22 ET PHILADELPHIA--(Business Wire)--Aug 02, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has today announced that, in response to a request from associates in the Philippines, it had dispatched its Chairman to conduct a series of meetings with government and industry officials.
As a result of these meetings, a second live television demonstration of the Company's technology will also be conducted in the Philippines in close proximity to the planned Beijing demo.
The Company also announced that it is switching the hosting of its web site from Canada to the US over the next few days and the site may be temporarily unavailable. When it returns, there will be pictures and press coverage of the JV signing ceremonies in Beijing and ultimately, video of the live television demonstrations.
(Sure Trace is halted from trading of its common stock by the SEC} Grrrrrrrrrrrrrrr
Sure Trace Responds to SEC Actions
August 4, 2005
9:00 ET PHILADELPHIA--(Business Wire)--Aug 04, 2005--
Sure Trace (OTC:SSTY.u) denies that there are any inaccuracies or inadequacies in news releases that warrant the halt of trading of its common stock by the SEC. The Company believes that the SEC, however well-intentioned, may have been misguided from sources intent on hurting the Company's business.
The Company will cooperate with the SEC and intends to provide the SEC with all relevant documents and other information as requested. Michael Cimino, the Company's CEO states, "After the SEC has had an opportunity to communicate with us and review any pertinent materials relating to our press releases, we are confident that they will agree that our stock should resume trading."
( I will end this part of my project for now, next I will give my opinions on why we got halted and continue with the stunning progress the company has made since August 3rd)
Part two is not complete but I will post what I have so far.
Suretrace Security Inc.
Part 2
Suretrace Security’s bold and smart decision to go after China market
Before I go into the recent events that lead up to the signing of the service agreement that True Product ID Technology (Beijing) Limited signed with the National Brand Cartel Anti-Counterfeiting Cooperation Network – Brand315 where the contract calls for the joint venture to mark 2 billion labels of the top brands in China, I want to go back for a moment and give a timeline of events leading up to 5/26/2005 when the company’s new President and Vice Chair Mr. Michael Cimino took over.
As I stated in part one, the brief company history from sec filings. Here is the timeline:
1983 – White Cloud Exploration – to seek profitable business opportunities.
1991 – White Cloud merger with ATI was cancelled due to accounting difficulties.
1997 – William C Meier acquired common stock in White Cloud Exploration.
2000 – White Cloud Exploration acquires Cormax Business Solutions LTD.
2002 – Identex files patent in U.S. App# 10/094,297
2003 – White Cloud Exploration acquired all of the issued and outstanding shares
Of Identification Technologies Inc. a private Alberta corporation (“Identex”}
Immediately following the acquisition if Identex , the company changed its name to Sure Trace Security Corporation.
Now what becomes interesting is what happened between the acquisition of Identex in January of 2003 up to May 26th 2005 when Michael Cimino took over as President. Here is the information that I have looked at and my personal opinion of what happened.
After the Identex acquisition, Suretrace decided to go after the existing markets that Identex had been working on. These markets included loss prevention, authentification and anti-counterfeiting products throughout Canada on a direct sale basis. The client list included Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Toronto Transit and Atomic Energy of Canada.
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion; extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
Continuing with my thought from the previous paragraph, after the Identex acquisition, Sure Trace decided to go after these existing markets. Then on September 11th 2001 when The United States was attacked by terrorists, the company included in their marketing plan security issues such as passports, immigration documents, currency, personnel id badges, airspace security, authentification of art collections, lottery tickets, casino checks and playing cards. With the use of Identex’s taggant and Niton’s scanner. The company admitted at the time that the Niton scanner was not the ultimate solution.
In my opinion the marketing of loss prevention, authentification and anti-counterfeiting products to Identex’s existing clients mentioned earlier was just not bringing in enough revenue or maybe Sure Trace realized at that time that the biggest market for their product line was in China. I believe the latter is the case. This I believe is when Mr. James Mackay decided his vision for the company would be changed. The new focus would be on the biggest market in the world – China. I do believe that some of Identex’s clients still have the potential of being clients of Sure Trace in the future, however once Sure Trace is recognized as the Chinese Government’s standard solution for anti-counterfeiting efforts, authentification, tracking and many other uses, then and only then will we be able to prove to the rest of the world the unique value and effectiveness of our products and services.
Continuing with the timeline:
5/2003 – Resignation of old Accountant and engagement of new accountant.
4/2004 – Code of ethics for senior financial officers and the principal executive officer of Sure Trace established.
This is the time period when I believe Mr. James Mackay realized he had a big problem on his hands. He had financial officers and executive officers of the company trying to destroy the company and steal the technology and clients.
5/26/2005 Mr. Michael Cimino is retained as the new President and Vice-Chairman. Mr. Cimino, will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners.
Suretrace Security Inc.
Part 1
A brief view of the company history from sec filings
(Many filings were omitted just to keep it as short as possible}
Suretrace Security Inc started out as White Cloud Exploration Inc incorporated July 22nd 1983 in the state of Utah. for the purpose of obtaining capital to seek potentially profitable business opportunities. Since inception, the Company has been engaged in organizational activities and is in the development stage.
Steven C. Signer. the President and a director and Dev Mahanti is Director and Secretary of Registrant.
White Cloud, in March of 1991, entered into a Letter of Intent whereby White Cloud was to acquire 100% of the Stock of American Technology, Inc.("ATI") in exchange for stock of White Cloud. The merger was cancelled due to accounting difficulties with American Technology, Inc.
General statement of acquisition of beneficial ownership 8/18/1997. WILLIAM C. MEIER 1430 Larimer #209 Denver, Colorado 80202.
ITEM 4. PURPOSE OF TRANSACTION
The purpose of the acquisition of the common stock is to make a speculative investment and in order to provide consulting services to the Company relating to future acquisitions of target companies beneficial to the shareholders of the Company. Although the Reporting Person has devoted substantial effort in exploring potential acquisitions which may have potential relevance to matters referred to in paragraphs (a) through (d)of Item 4. of Schedule 13D, unresolved conditions precedent remain and it is unclear at this time whether there will be any successful closing of any acqusitions.
(We will skip forward to the sec filing 4/23/2003)
1530-9th Avenue S.E.,
CALGARY, ALBERTA, CANADA T2G 0T7
Telephone: (403) 204-0260
(Address, including zip code, and telephone number, including area code,
of registrant's principal executive offices)
Securities registered under Section 12(b) of the Exchange Act:
Title of each class
None Name of each exchange on which registered
None
Securities registered under Section 12(g) of the Exchange Act:
Common Stock, 500,000,000. $0.001 Par Value
(Title of class)
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. X Yes ______No
Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not contained in this form, and no disclosure will be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. _______
State issuer's revenues for its most recent fiscal year: $ 409,237
State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2 of the Exchange Act.):
$1,558,151 as of April 14, 2003.
Note: If determining whether a person is an affiliate will involve an unreasonable effort and expense, the issuer may calculate the aggregate market value of the common equity held by non-affiliates on the basis of reasonable assumptions, if the assumptions are stated.
(ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST 5 YEARS)
Check whether the issuer has filed all documents and reports required to be filed by Section 12, 13, or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.
Yes ______No _______
(APPLICABLE ONLY TO CORPORATE REGISTRANTS)
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: as of December 31, 2002.
PART I
ITEM 1. DESCRIPTION OF BUSINESS
Business Development
Since its inception in July of 1983 as White Cloud Exploration, Inc. ("the Company"), has been in the developmental stage, while it has attempted to identify suitable mergers, assets or acquisitions of operations. In November 1998, the Company changed its name to Watchout! Inc.
On August 31, 2000, the Company acquired all of the issued and outstanding shares of common stock of Cormax Business Solutions, Ltd. in exchange for the issuance of 25,100,000 shares of our common stock. For purposes of the transaction, the shares were valued at $.30 per share for a total consideration of $7,530,000. The transaction was subject to receipt of certain documentation, which was received by the Company on September 9, 2000. Pursuant to the share acquisition Agreement, Todd Violette was appointed as President and Chairman of the Board of Directors of the Registrant.
On March 7, 2001, the Company filed an amendment to its articles of incorporation changing its name to Cormax Business Solutions Inc.
On April 1, 2001 Cormax Business Solutions Inc. purchase 100% interest in Expanded Systems Solutions Inc. ("Expanded Systems"). Cormax purchased Expanded Systems from Novalink for $200,000 USD. Expanded Systems is a wholly owned subsidiary of Cormax Business Solutions Inc.
On January 29, 2003, the Company acquired all of the issued and outstanding shares of Identification Technologies Inc., a private Alberta corporation ("Identex"), in exchange for 1 million shares of the Company's Series B Preferred Stock. Immediately following the acquisition of Identex, the Company changed its name to Sure Trace Security Corporation.
OVERVIEW OF BUSINESS
Sure Trace, through its wholly owned subsidiary Identification Technologies Inc. ("Identex"), sells proprietary security products and services. The markets for its products and services are worldwide. Studies completed by Ernst & Young, the US Department of Labor and the US Chamber of Commerce value these markets in excess of $1 trillion annually.
Due to the events of September 11, 2001, security in all its forms has become a major concern for both government and private sector businesses. Sure Trace has a solution that is proven, proprietary and extremely adaptable to many applications.
Identex is initially focusing on Loss Prevention, which is a polite means of describing employee/contractor theft from medium to large industrial employers. Based on the Ernst & Young and the US Department of Labor, studies employee theft averages $500 per year per employee; 10% of employees will never steal, 15% are considered to be habitual thieves, which leaves the 75% in the middle that steal on an opportunistic basis.
The goal of Identex's products and services is to raise the bar in terms of the risk associated with stealing and to reduce theft through a combination of science and psychology.
Science
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion, extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two
different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
3
Psychology
This forms a major component in the overall success of Identex's program. Once the product has been installed, company employees, through an ongoing awareness campaign, are shown exactly how the product works and thus discover that extreme abrasion, acids and solvents and even 3,0000 F will not remove the taggant. Taggants can be applied both covertly and overtly. A florescence is added to the formulation, which forms the first line of detection. UV lights are used at entry/exit gates so that security personnel as well as employees/contractors can easily identify marked assets.
Identex
The Identex taggant formulations work with the Niton proprietary patented portable elemental scanner. This scanning technology is able to identify an individual formulation to the very low 5 parts per million. Each client receives a unique formulation of the taggant so those assets belonging to one client can always be identified as theirs. Asset scanning forms a significant component within the ongoing employee awareness campaign.
While the vast majority of employers typically terminate an employee caught stealing, it is critical to the success of any deterrence program that employees know that prosecution is a real option and not just an empty threat.
Research
Identex engaged Kroll & Associates, the worlds largest security firm, to assist in the development of a "chain of evidence" able to withstand legal scrutiny should a client ever wish to legally pursue an employee for theft. The installation of a complete chain of evidence, which is comprised of a series of policies, procedures and documentation forms a major component of the services provided in conjunction with Identex's products and is another component of the employee awareness campaign.
Marketing Strategy
Prior to its acquisition by Sure Trace, Identex sold Loss Prevention products throughout Canada on a direct sale basis. Identex's client list is impressive and includes such major corporations as Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Imperial Oil, Toronto Transit, and Atomic Energy of Canada to name a few.
Sure Trace has significantly altered Identex's distribution strategy by introducing a channel partner distribution strategy as opposed to direct sales. To this end, Identex has completed national distribution agreements with the Commissionaires (of Canada) and with ToolWatch Corporation of Denver, CO. Identex is currently negotiating with several additional firms for distribution agreements on an international scale.
This distribution model for Loss Prevention provides Identex with several significant advantages over direct sales. It has often been said that "people buy from people but they generally buy from people they like and trust". Using existing security firms or firms with a complimentary product or service provides Identex with a large existing sales force that has access to a large existing client base that knows and trusts this sales force. Moreover, as this sales force is a third party to Identex, selling costs and expenses are borne by the distribution channel partner until a sale is actually completed. The following examples will elucidate our strategy
Example One -Horizontal Channel Partner
The Commissionaires are Canada's largest security personnel provider to all levels of government and private sector business. In 2002 the Commissionaires' labor force grew to 17,000, which are largely made up from retired military and police force professionals. In that same year gross sales reached 270 million CDN. The Commissionaires boast better than 1,800 private sector businesses that meet Identex's industrial client profile and have direct access to many senior government officials.
Example Two-Vertical Channel Partner
ToolWatch produces an Asset Management software program and in its 12 year history has accumulated better then 6,000 clients of which 5,000 meet Identex's industrial client profile. Much like the Commissionaires, ToolWatch has a professional sales force but does not employ security personnel. As such, ToolWatch's distribution strategy involves the establishment of regional seminars where ToolWatch will expose their clients to Identex products and services. ToolWatch will then establish a "Security Association" amongst groups of regional clients. The associations will hire the appropriate number of security professionals who will initially form the installation coordination team, then form the employee training team, and then facilitate an ongoing employee awareness campaign.
4
Identex intends to replicate this distribution strategy throughout Europe, Asia, Africa and the Middle East.
While gross margins on Loss Prevention sales average sixty eight percent (68%), margins in Authentication are higher. Identex has elected to initially focus on Loss Prevention as this strategy facilitates a geographically broad distribution of portable scanners, which forms a central core to the ultimate success of Authentication. The benefits of the broad geographical distribution of scanners are described in greater detail below.
Authentication involves positive proof of origin, right to hold, or outright ownership of an asset. These assets can include documents, gems, component parts, and of course brand name finished goods. The Washington Anti Counterfeiting Coalition has determined that the cost of fraudulent replication of assets amounts annually too more than 1 trillion dollars (USD) worldwide.
Identex-A New Market Category
Globally five other companies sell "coded" fluids. However, none of these companies possess portable scanning technology and as such require their clients to use a test called "laser ablation" to prove ownership. The most active of these companies, ISOTAG of Texas, uses a color shifting UV (black) light technology. While accurate, the UV technology is expensive and stationary. In addition, as their coded fluid is organic in nature it sits on top of the surface and fades over time under natural light. Identex has a significant advantage over this technology, as its product is inorganic, bonds with the asset on a molecular basis, will never fade, and is readable with a relatively, inexpensive portable scanner. As such Identex considers itself as a new market category.
To manage this diverse market opportunity Identex has broken Authentication into the following subgroups: Government Services, Industrial Authentication and Brand Authentication.
Government
Since September 11th, governments around the world have established significant budgets to augment their security efforts. Identex's products can be used in passports, immigration documents, currency, personnel identification badges, contracts, airspace security, etc.
Industrial Authentication
Industrial authentication provides industries such as automotive with the ability to determine legitimate parts as opposed to "knock-off" parts. False warranty claims and legal liability suites are a major concern for corporations. Industries such as aerospace and high-pressure valve producers are required to test component parts on a routine basis. Art collections, lottery tickets, casino checks and playing cards, gem certificates, the gems themselves all require positive verification.
Brand Authentication
Most, if not all, major brand names from soda pop to clothing, to sporting goods face significant problems due to the fraudulent replication or outright theft of their products.
The largest hurdle to effectively capture this market opportunity(s) has been the lack of quick and positive authenticate in the field. Telling a border guard who suspects a shipment of goods to be fraudulent that authenticating the shipment might take days if not weeks is simply not feasible. The combination of Identex's taggant and Niton's scanner meets the immediacy needed is the perfect if not ultimate solution.
Niton's scanning technology has a built-in database that allows for specific information to be permanently tied to a particular formulation of taggant. This information could be date of issue, ownership, purchase order number, shipping detail, expected location, etc. This database can be updated "on the fly" by a field investigator. The built-in database can be connected to a larger central database via direct dial-up, cell phone, or satellite communications. This allows for two-way communications so that a field investigator can download new taggant signatures along with associated database information as well as uploading their findings in the field.
5
Sure Trace and Identex's management team includes 10 seasoned veterans that posses better than 200 years of sales and management experience. This management team has been assembled to manage the channel distribution partners and pursue specific industrial verticals as they relate to various authentication markets.
Identex filed a process patent application with the U.S. Patent and Trademark Office on March 8, 2002, as application number10/094,297, entitled "Asset and Brand Protection System Using X-Ray Fluorescence Analysis of Unique Elemental Taggant." This application covers the process by which Identex tags and identifies an item using an x-ray fluorescent and spectrographic analyzer and maintains a database of the items tagged with taggants.
Identex has trade-marked the name "Identex" with the Canadian Intellectual Property Office, as well as the phrase "Marked For Life!" The first trade-mark was registered on February 4, 2003 and the second was registered on February 10, 2003. These trade-marks are valid for 15 years from the respective registration dates and are subject to renewal at that time.
Sure Trace/Identex is not aware of any government regulations that might adversely affect its business.
Identex has spent approximately $467,000 US ($700,309 CDN) on research and development in fiscal year 2001 and $285,000 USD ($428,005 CDN) in fiscal year 2002.
Identex's manufacturing process involves the use of certain chemical compounds. The use of these compounds is regulated and Identex has established a waste management and disposal system that complies with all government environmental regulations.
Employees
As at February 15, 2003 the Corporation had 2 full time employees and Identex had 4 full time employees and 4 contract employees.
ITEM 2. DESCRIPTION OF PROPERTIES
The Company, through its wholly-owned subsidiary, Identification Technologies Inc., leases 2000 square feet of Class B security lab space in Kelowna, British Columbia. The lease was for a three year term, with 2 years and 9 months currently remaining. The monthly cost of this lease is approximately $670 US ($1,000 CDN) plus taxes of approximately $116 US ($173.69 CDN) and common area, tenant improvements and sales tax of approximately $785 US ($1,172.14 CDN).
ITEM 3. LEGAL PROCEEDINGS
The Company currently is not a party to any litigation.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Not applicable.
PART II
STATEMENTS WHEREVER THEY APPEAR IN THIS REPORT. OUR ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THIS REPORT.
7
Result of Operations
During the twelve month period ended December 31, 2002, we had revenues of $409,327 compared to $596,996 for fiscal year 2001. We incurred general and administrative expenses of $650,443 for the year ended December 31, 2002 and $1,002,738 for the year ended December 31, 2001. Net Loss in the year ended December 31, 2002 was ($745,708) or ($0.008) per share compared to net loss of ($925,651) or ($.05) per share in the same period 2001. We recognize revenues as they are earned, not necessarily as they are collected. Direct costs such as hardware and software purchases for resale and subcontracting fees are classified as cost of goods sold. General and administrative expenses include salaries, accounting, advertising, contract labor, bank charges, entertainment, equipment rental, insurance, legal, supplies, pay roll taxes, postage, professional fees, telephone and travel. The decrease in general and administrative expenses during fiscal year 2002 as compared to fiscal year 2001 is primarily attributable to tighter cost controls.
Liquidity and Capital Resources.
The auditor's report accompanying our audited financial statements for the year ended December 31, 2002 indicated that there is substantial doubt respecting our ability to continue as a going concern. The qualification was due to our need to generate positive cash flow from operations or obtain additional financing. During the year ended December 31, 2002, we were generated negative cash flow of ($38,551). No assurance can be given that we will be able to achieve positive cash flows or obtain additional financing for operations.
We have incurred losses since the inception of our business. We expect to continue to incur losses until we increase our revenues while reducing costs of good sold and general and administrative expenses. We have been dependent on additional funding from lenders and investors to conduct operations. At December31, 2002 we had a retained deficit of ($6,200,473) compared to retained deficit of ($5,454,765) at and December 31, 2001. As of December 31, 2002, we had total current assets of $-0- and total current liabilities of $716,057 or negative working capital of ($716,057). At December 31, 2001, we had total current assets of $182,170 and total current liabilities of$788,383 or negative working capital of ($606,213). We currently have no material commitments for capital expenditures. We will continue to evaluate possible acquisitions or investments in businesses, products and technologies that are complimentary to ours. These may require the use of cash which would require us to seek financing.
We currently do not have sufficient cash or working capital to meet our operating needs. We will need $700,000 to meet the operating needs of Sure Trace and our subsidiary Identex. We will have to sell additional equity or debt securities or seek additional credit facilities to fund acquisition-related or other business costs. Sales of additional equity or convertible debt securities would result in additional dilution to our stockholders. We may also need to raise additional funds in order to support more rapid expansion, develop new or enhanced services or products, respond to competitive pressures, or take advantage of unanticipated opportunities. Our future liquidity and capital requirements will depend upon numerous factors, including the success of our service offerings and competing technological and market developments.
We will not undertake any company-sponsored research and development during the next twelve month period. Any research and development work that will be undertaken will be done at our customer's expense.
( There is much more to this filing but I wanted to shorten it as much as possible)
Notification of inability to timely file Form 10-Q or 10-QSB 2003-05-15
Notification of inability to timely file Form 10-Q or 10-QSB 2003-08-15
a.
(1) Resignation of Accountant
On May 22, 2003, the Board of Directors of Sure Trace Security Corporation (the "Corporation") dismissed Michael Johnson & Co., the Company's independent auditors. Michael Johnson & Co. audited the Company's consolidated financial statements for our two most recent fiscal years ended December 31, 2002.
The report of Michael Johnson & Co. accompanying the audit for our two most recent fiscal years ended December 31, 2002 was not qualified or modified as to audit scope or accounting principles. However, such report did contain a modification with regards to the entity's ability to continue as a going concern.
During our two most recent fiscal years ended December 31, 2002, and during the interim period up through May 22, 2003, there were (1) no disagreements between the Company and Michael Johnson & Co. on any matter of accounting principles or practices, financial statements disclosure, or auditing scope or procedure; (2) no reportable events as such term is defined by paragraph (a)(1)(iv) of Item 304 of Regulation S-B promulgated by the Securities and Exchange Commission ("Regulation S-B"); and (3) no matters identified by Michael Johnson & Co. involving our internal control structure or operations which was considered to be material weakness.
Michael Johnson & Co. reviewed the original Form 8-K, which the Corporation filed with the Securities and Exchange Commission on May 29,2003, with respect to the previously mentioned disclosure and was asked to furnish a letter with respect thereto. As of the date of this filing, the Corporation has not received any letter from Michael Johnson & Co. regarding to the disclosures made in the original Form 8-K.
a.
(2) Engagement of New Accountant
On May 22, 2003, the Board of Directors of the Company appointed Grant Thornton LLP as the Company's new independent accountants.
During its two most recent fiscal years ended December 31, 2002, the Company did not consult with Grant Thornton regarding the application of accounting principles to a specified transaction, either completed or proposed, or the type of opinion that might be rendered regarding our financial statements, nor did the Company consult with Grant Thornton with respect to any accounting disagreement or any reportable event as such term is defined by paragraph (a)(1)(iv) of Item 304 of Regulation S-B
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2004-03-30
(4/15/2004)
Code of Ethics
For Senior Financial Officers
And the Principal Executive Officer of:
Sure Trace Security Corporation
Sure Trace Security Corporation (the "Company") is committed to conducting its business in compliance with all applicable laws and regulations and in accordance with high standards of business conduct. The Company strives to maintain the highest standard of accuracy, completeness, and disclosure in its financial dealings, records, and reports. These standards serve as the basis for managing the Company's business, for meeting the Company's duties to its stockholders, and for maintaining compliance with financial reporting requirements. The Company's principal executive officer and all of the Company's senior financial executives must agree to comply with the following principles and will promote and support this Code of Ethics, and comply with the following principles. For the purposes of this Code of Ethics, "senior financial officers" means the Company's principal financial officer and controller or principal accounting officer, or persons performing similar functions.
The principal executive officer and each senior financial officer of the Company will adhere to and advocate the following principals and responsibilities governing his or her professional and ethical conduct, each to the best of his or her knowledge and ability.
1.
Act with honesty and integrity and in an ethical manner, avoiding actual or apparent conflicts of interest in personal and professional relationships.
2.
Promptly disclose to the Company, through the General Counsel, Chief Accounting Officer, or Audit Committee, any material transaction or relationship that reasonably could be expected to give rise to a conflict of interest between personal and professional relationships.
3.
Provide full, fair, accurate, timely, and understandable disclosure in reports and documents that the Company files with, or submits to, the SEC and in other public communications made by the Company.
4.
Provide constituents with information that is accurate, complete, objective, relevant, timely, and understandable.
5.
Comply with applicable rules and regulations of federal, state, and local governments and other appropriate private and public regulatory agencies.
6.
Act in good faith, responsibly, with due care, competence and diligence, without misrepresenting material facts or allowing my independent judgment to be subordinated.
7.
Use good business judgment in the processing and recording of all financial transactions.
8.
Respect the confidentiality of information acquired in the course of the Company's business, except when authorized or otherwise legally obligated to disclose such information, and not use confidential information acquired in the course of work for personal advantage.
9.
Share knowledge and maintain skills important and relevant to his or her constituents' needs.
10.
Promote ethical behavior among constituents in the work environment.
11.
Achieve responsible use of and control over all assets and resources employed or entrusted to him or her.
12.
Comply with generally accepted accounting standards and practices, rules, regulations and controls.
13.
Ensure that accounting entries are promptly and accurately recorded and properly documented and that no accounting entry intentionally distorts or disguises the true nature of any business transaction.
14.
Maintain books and records that fairly and accurately reflect the Company's business transactions.
15.
Sign only those documents that he or she believes to be accurate and truthful.
16.
Devise, implement, and maintain sufficient internal controls to assure that financial record keeping objectives are met.
17.
Prohibit the establishment of any undisclosed or unrecorded funds or assets for any purpose and provide for the proper and prompt recording of all disbursements of funds and all receipts.
18.
Not knowingly be a party to any illegal activity or engage in acts that are discreditable to my profession or the Company.
19.
Respect and contribute to the legitimate and ethical objects of the Company.
20.
Engage in only those services for which he or she has the necessary knowledge, skill, and expertise.
21.
Not make, or tolerate to be made, false or artificial statements or entries for any purpose in the books and records of the Company or in any internal or external correspondence, memoranda, or communication of any type, including telephone or wire communications.
22.
Report to the Company, through the General Counsel, Chief Accounting Officer, or Audit Committee any situation where the Code of Ethics, the Company's standards, or the laws are being violated.
Those required to comply with this Code of Ethics understand that failure to comply with this Code of Ethics will not be tolerated by the Company and that deviations there from or violations thereof will result in serious consequences, which may include, but may not be limited to, serious reprimand, dismissal or other legal actions.
The parties subject to this Code of Ethics will acknowledge in writing that they agree to comply with these requirements.
Notification of inability to timely file Form 10-Q or 10-QSB 2004-05-17
Notification of inability to timely file Form 10-Q or 10-QSB 2004-11-12
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2005-03-31
(5/26/2005 Michael Cimino comes on board)
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report: May 26, 2005
---------------------------------
(Date of earliest event reported)
Sure Trace Security Corporation
(A Utah Corporation)
------------------------
(Exact name of registrant as specified in its chapter)
Item 5.02 - Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
----------------------------------------------------------------------
On May 25, 2005, the Company appointed Michael Cimino to the positions of President of the Company and Vice Chairman of the Board of Directors. On the same date, the Company appointed Ron Bell to the position of head of Operations and Sales. James MacKay will provide continued services under the title ofFounder
(8/11/2005 Richard Epstein buys 133,777,778 shares of common stock}
[Paper]Registration of sale of securities [Regulation D and Section 4(6) of the Securities Act of 1933], item 04
Film# = 05066949 2005-09-23
(I do not have access to the regdex filing, could someone supply it?}
(Short summary IMO}
Since it’s inception White Cloud Exploration and Cormax, the company was in the development stage with no direction. When Suretrace acquired Identex on January 29th 2003 is when the company Suretrace found it’s purpose.
(The next part – Suretrace’s smart decision to go after China market}
Ok folks, I love the positive posts, the funny posts, hopefull pumpers, even the negative posts, I can research it an prove to myself that they are wrong.
WHAT WE NEED FOLKS IS A COMPREHENSIVE STUDY OF WHAT SSTY IS ALL ABOUT, WHERE WE HAVE BEEN AND WHERE WE ARE GOING.
I would like all of your help in doing this. There is so much to this company, its products and the many uses not only in China but all around the world. I firmly beleive that once the world sees that China has adopted this product as the standard for anti-counterfeiting, artifact authentification, tracking and many other applications. Ssty and the many products that ssty has developed will change commerce as we know it. then and only then will the investment world open their eyes and look at it.
Granted we are on the greys, but there are many investors who only invest in blue chip stocks but would love to find a diamond in the ruff like this one. They would rather buy this in the pennys rather than buy it in the dollars.
What we need to do as the first group of risk takers, willing to loose the money we have invested, is to put together a comprehensive study and examination of the company, products, good and bad, the progress that the company has made and the potential. No frills just facts, we have to investigate everything, the company, every person involved with the company, the partners, the products, every event past and future and any public information that is available for ssty and put in an organized format so that existing and future investors can really see what this product is all about.
I am willing to do my part but I ask the help of the longs on this board to help piece together the information that we will need to put it together.
We first have to come up with a format which will put the information in a clear and understandable sequence.
I ask people like Sammy, Senzanome, Bemilio007, opusfla, handstramp, richtoken0, tty105, peterpiper15, richal3 and many others including people ont the ihub board, tex and others there to help in putting together a compelling factual story about this company and their products.
I know by my own research that the only reason this stock is not at .10 by now is because we are on the greys and many penny stock investors just will not touch this. We need to prove to them that they can touch this stock! and they should do it now if they want the best returns.That they should do it now before we go otcbb at which time will be to late to get in on the absolute ground floor.
Give me some help here folks, I will be available all weekend from Friday evening after 6:00pm till Sunday night.
Lets put it together so we can all benefit and educate the people who are the doubters.
JC
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Not much volume today, had a lower price at .005, some fool sold for that, sheesh, ended up at .009. What that tells me is everyone is just holding on. Why? Because this company has more potential than any other pink sheet stock that our investors have purchased in a long time. I have not had time to read all the posts today, just glanced at some of the topics. Still long and strong and when I get time this weekend I will spend a lot of time putting together something factual, informative and something that everyone, long or short can sink their teeth into.
We had a great day IMO. Although I have not read all of your posts and thoughts, I will catch up this weekend and will have a lot to add to the week we have just gone through.
Dedicated to this stock for the long run!
I think the price per product unit is based on the 5 million dollar test on 2 billion units. It comes out to .0025 cents per unit. And let me remind you 2 billion units is just one days production for china. IMO we will see billions of dollars in revenue world wide.
Today is the day, I predict great news, exciting projections and news on financials. IMO expect an up day all day. I say we close at .015 or more.
Trademark Counterfeiting
By Doreen J. Gridley and Bradley M. Stohry, Attorneys at Ice Miller
A well-known trademark is a valuable asset for a company. When consumers see the COCA-COLA, NIKE, or DISNEY trademark on a product, they should be able to easily formulate an opinion about the product based upon the reputation of the company that owns the trademark.
However, there is a problem when an unscrupulous individual places a trademark on an inferior product and attempts to palm it off as a product of the trademark owner. This practice of counterfeiting trademarks harms the public's faith in trademarks as distinguishing source of products and also results in inferior products that threaten the safety of those who use them.
A bill recently passed by the Senate, entitled the "Stop Counterfeiting in Manufactured Goods Act," has been described as an attempt to strengthen and clarify anti-counterfeiting laws. This legislation is intended to counter a threat to America that "wreaks real harm on our economy, our workers, and our consumers." The legislation requires the seizure and destruction of counterfeit labels as well as the equipment used to make and package counterfeit goods. According to statistics relied upon by the Senate, counterfeiting costs the U.S. between $200 billion and $250 billion annually.
This legislation is a response by Congress to an issue that is a genuine problem in our ever-expanding global economy. Aside from this legislation, there are real world defenses that an organization can adopt to assist it in preventing and eliminating counterfeiting of its trademarks.
Be Informed about Your Trademark Rights: Becoming informed about the issue is the first step. Before a company can do anything about the counterfeiting of its trademarks, it needs to become knowledgeable about protecting its trademarks and other intellectual property assets. Trademarks need to be protected like any other asset that a company owns. Companies should insure that they are using their trademarks properly and that their trademarks are adequately protected from infringement and counterfeiting.
Make Your Product Difficult to Duplicate: An effective way of preventing or reducing trademark counterfeiting is to include a feature on the product that is difficult to copy, such as a hologram or digital water marking. This makes it easier for the consumer to determine whether the product is genuine and also, from an enforcement perspective, makes it easier for the authorities to spot counterfeit products.
Register Your Marks: Registration of a trademark with the U.S. Patent and Trademark Office (USPTO) is often an important preliminary step in obtaining adequate protection. While registration is not mandatory in the U.S., there are many advantages of registration that make it a necessity. For example, in order to obtain civil and criminal penalties against counterfeiters and prevent importation of goods bearing an infringing or counterfeit mark, federal law requires that a trademark owner obtain registration.
Register Your Marks in Foreign Countries: A U.S. trademark registration is not valid outside of this country. There are systems which facilitate the registration of trademark rights on a regional basis and some countries allow a U.S. applicant to use the filing date for the application filed in the U.S. However, it is currently not possible to file and obtain a single trademark registration which will grant universal ownership. Therefore, registration is necessary in all parts of the world in which a trademark is being used. Unlike the U.S., most countries require registration as a mandatory prerequisite to obtain rights in a trademark. In addition, be aware that other trademark laws may vary from country-to-country.
Register with Customs: International treaties highlight customs administrations as an invaluable resource in combating against trademark counterfeiting. Trademarks should be registered with the customs agency in each country where a mark is used. It is important to note that a trademark owner must first register the trademark with the USPTO before a trademark may be registered with Customs. After a trademark is registered with U.S. Customs, officials do a spot check of imported goods for counterfeit or infringing goods which, if found, can be detained before entry into the U.S.
Protect Yourself Outside of This Country: While counterfeiting is a problem in the U.S., it is even more of an issue in the developing world. It probably comes as no surprise that China is the biggest source of counterfeit products in the world. A company that does business in China, or any other country, needs to have a trademark strategy in that individual part of the world. This includes working with foreign law firms to prevent counterfeiting and private investigation firms to track down counterfeiters.
Legal Actions Against Counterfeiters: The basic legal option in most jurisdictions is a civil action for trademark infringement or a related cause of action. Most countries have counterfeiting laws similar to those in the U.S. to combat counterfeiters, though some countries' laws are more effective than others. The Trademark Counterfeiting Act of 1984 is federal legislation that provides causes of action and remedies for trademark owners whose marks are subject to counterfeiting activities in the U.S. This law generally requires that the trademark owner register the trademark with the USPTO. Under the Trademark Counterfeiting Act, the federal courts may 1) issue orders requiring the seizure of counterfeit goods; 2) award treble damages or profits, as well as attorneys' fees to the trademark owner; and 3) levy criminal sanctions of up to $5 million and imprisonment against the counterfeiter.
Support Aggressive Intellectual Property Legislation: In addition to the "Stop Counterfeiting in Manufactured Goods Act," other legislation has recently been introduced. Senator Evan Bayh recently introduced legislation aimed at enhancing enforcement of intellectual property rights domestically and internationally. Senator Bayh's proposed legislation is intended to elevate the treatment of intellectual property theft to the same level as money laundering and other black market crimes. In addition, the U.S. Attorney General recently announced that the Bush administration would pursue legislation to strengthen protection of intellectual property rights. This bill will be called the "Intellectual Property Protection Act of 2005," and will increase the government's power to seize property used in intellectual property related crimes as well as proceeds from sales of counterfeit goods. In addition, the proposed bill gives increased powers to the government to award restitution to intellectual property owners whose rights are violated. Therefore, it is readily apparent that that lawmakers are recognizing the importance of protecting intellectual property rights. Trademark owners should support legislation of this nature that would assist them in defending their valuable rights.
For more information, contact Doreen J. Gridley at doreen.gridley@icemiller.com or Bradley M. Stohry at bradley.stohry@icemiller.com.
SSTY – Information for new investors. Part one, press releases, part two the products and the potential, part three connecting the dots.
SSTY 101 by Johncee1
Part One – Press releases:
Our vision is to become the world leader in the provision of anti-counterfeiting, brand and product authentication, and security products and services
Sure Trace's goal is to develop the world standard for anti counterfeiting by using a combination of field investigation, individual product marking, and utilizing its secure, web-enable database. Sure trace is well positioned to bid for an R&D contract from a foreign corporation that could potentially fund all the developmental stages and be a test market for governmental use. One of the main goals of the implementation of Sure Trace's technology will be to assist governments in the collection of the proper tax revenue for the particular governments and protect the branded merchandise that is currently lost.
Sure Trace Team En Route to Beijing, China; Group Includes Chairman, New Head of Operations & Sales, CTO and Other Outside Technical Advisors - Multiple Demonstrations Planned
May 27, 2005
PHILADELPHIA--(BUSINESS WIRE)--May 27, 2005--Sure Trace Security Corporation (OTC:SSTY) has today announced that, in response to a request from our Chinese associates, it is dispatching its presentation team to Beijing, China. The Chairman is already en route and plans to stay in China, at the request of our hosts, for an extended period of time, in order to be the company's cultural liaison as the parties take the first steps in building what the company hopes is a long term relationship.
He will be joined over the next few days by the newly appointed head of Operations & Sales, Mr. Ron Bell, as well as by our Chief Technology Officer, Mr. Grahame Entwistle. The team will also include additional members made up of expert technical & scientific advisors who are well versed in the specific technology that the company will demonstrate.
After the initial phase and demonstration stage, the company's new President and Vice-Chair, Mr. Michael Cimino, will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners, with the input and assistance of the full team.
Sure Trace Strengthens Chinese Connection; Company Increases Its Equity Stake In China Joint Venture Vehicle; Sure Trace Asia Ltd. To Become Wholly Owned Subsidiary
June 17, 2005
PHILADELPHIA--(BUSINESS WIRE)--June 17, 2005--
New CEO Added; China Demos Successfully Completed
Sure Trace Security Corporation (OTC:SSTY) (the "Company") announced that, because of its completion of a highly successful demonstration of the Company's capabilities in Beijing, China, it has been able to reshape the framework of its China joint venture. The Company will now hold a majority interest in the joint venture vehicle as opposed to a minority position.
The vehicle, Sure Trace Asia Ltd. (STA), will become a subsidiary of SSTY. The Company will now own 85% of STA instead of 40%. STA and Beijing Suneray Communication Co. Ltd. (Suneray) have an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong. The joint venture will share the costs and profits on a 50/50 basis.
Mr. William Chan, of Hong Kong, who was instrumental in bringing the Suneray deal to STA, has also agreed to become the CEO of both SSTY and STA. He will also sit on both Boards and will be located in the Company's Hong Kong office. Mr. Cimino will be President and Vice-Chairman of both companies and operate out of the Company's home office in Philadelphia.
Suneray, incorporated in Beijing, China, is legally authorized by People's Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the People's Republic of China.
Mr. Cimino, the Company President said, "This is a promising deal for the shareholders of Sure Trace. We have formed a joint venture with a major gatekeeper for the Chinese government, for the introduction of the types of technologies that we provide. In effect, the door to China is wide open to us... while others may still be just knocking at the door, the Chinese government itself, through Suneray, has already invited us in... That gives us a strong competitive advantage... especially given that we have successfully completed the demonstration stage of the process."
"Now that we also own a majority interest in STA, I believe we have further protected the interests of Sure Trace's shareholders and increased the value of the Company's holdings," said Cimino.
China Joint Venture Meets With 2008 Chinese Olympic Officials; Sure Trace Completes Globe Staff Acquisition; Acquisition Restructured; Company Issues Restricted Shares As Purchase Price
July 12, 2005
PHILADELPHIA--(BUSINESS WIRE)--July 12, 2005--Sure Trace Security Corporation (OTC:SSTY) is pleased to announce that it has completed the acquisition of Globe Staff Consulting (GSC).
Sure Trace Licenses Additional Technology For Use In China; Company Also Offers Details Of Previous Acquisitions; Hires CFO
July 27, 2005
12:04 ET PHILADELPHIA--(Business Wire)--Jul 27, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has today announced that, it has entered into a binding agreement with Sensor Media Corporation (Sensor) through its subsidiaries, to utilize Sensor's licensed technology in China, Hong Kong and Macau. It has also been granted the sole option to acquire Sensor's threesubsidiaries described below within 120 days of the execution of the agreement upon mutually acceptable terms.
Sensor has indicated that it owns the Intellectual Property rights to various technologies which include solar collection systems, fingerprint imaging systems, and TV back-Plane systems. These technologies are held through Sensor's subsidiaries -- SMC Solar, SMC Biometrics and SMC TV. Sensor has licensed worldwide exclusive manufacturing and distribution rights for these technologies and has granted exclusive sub-licenses to its three wholly owned subsidiaries.
Sensor's subsidiaries (SMC Solar; SMC Biometrics; and SMC TV) have, in turn, granted SSTY an exclusive sub-license to utilize, market and also sub-license these technologies within certain territories and on the terms described below:
SMC Solar: Exclusive rights in China, Hong Kong & Macau (for solar collection technology). (a)
SMC Biometrics: Exclusive rights in China, Hong Kong & Macau (for fingerprint imaging technology). (b)
SMC TV: Exclusive rights in China, Hong Kong & Macau (for TV back-Plane technology). (b)
(a) After 120 days from the execution of the Agreement, the rights will become worldwide except for the following territories, where SMC already has existing contracts: Japan, Australia, New Zealand, Europe, Soviet Union and Africa).
(b) After 120 days, the rights will become worldwide.
Also, in response to inquiries from its shareholders SSTY wanted to clarify the details and chronology of the Globe Staff and Sensor acquisitions.
SSTY previously announced letters of intent with SMC Biometric and Globe StaffConsulting (GSC). Since then, SSTY chose to concentrate its efforts in closing its deal with Suneray Beijing, and then using the connections developed/introduced through Suneray to build markets for the SSTY, SMC Biometric and GSC products/technologies.
The terms of the prior acquisition agreements were not fully met, after signing, by the parties, so current management revisited the situations and found a way to restructure the deals to the Company's benefit and to the approval of both GSC and Sensor. In the case of the GSC deal, instead of paying GSC six million ($6,000,000) dollars as consideration for the purchase, the Company was able to acquire 100% of the stock of GSC in exchange for the assumption of certain liabilities of GSC which should amount to less than $600,000. The company also issued GSC 242.5 million restricted shares of SSTY common stock as consideration for the acquisition.
SSTY has also today announced that it has resigned an updated and renegotiated agreement with SMC Biometric Inc. and its parent company Sensor Media Corporation. Under the terms of the LOI, SSTY has a four month option to close the acquisition which management believes will allow it sufficient time to secure revenue contracts for the fingerprint technology.
With the Suneray agreement now executed and in effect SSTY has once again focused its attention to building out its line of security products. In fact SSTY has commenced talks with its Chinese partners directly and European connections via GSC. In effect, SSTY now has the time to enter into revenue producing contracts before it has to fully pay for the acquisitions.
The Company also today announced the hiring of Joseph J. Repko, CPA as its CFO.
Mr. Repko brings many talents to the Company. He founded a full service accounting firm in 1984 with clients in a wide range of industries and services including manufacturing, video production, publishing, banking, financial, medical services, mining, automotive services, nonprofit and government entities. The services provided for these clients include compilation review, audit, tax, MIS consultation, SEC filings, IPO's and foreign operations. It has offices in Springfield, Pennsylvania (a suburb of Philadelphia) and in Jupiter Florida. Mr. Repko will work both out of the Philadelphia headquarters and a Florida location, near the Company's auditors.
Sure Trace China Joint Venture Receives Governmental Approval; Live Television Demo Planned
July 29, 2005
09:58 ET PHILADELPHIA--(Business Wire)--Jul 29, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) is pleased to announce that it has fully satisfied all the steps required by the Chinese government, both financial and technical, and has gained official approval of its joint venture, Sure Trace Technology (Beijing) Limited (the "JV"). The official signing, ratifying the venture company, took place in Beijing yesterday. In an unusual step, the official signing ceremony was carried live on the government owned national television station.
James Mackay, the Company's Chairman said, "After many months of often intense efforts, I am extremely pleased to finally announce that our technology has qualified and that the Company has met all financial requirements."
Additionally, the Company has announced that within the next week, in Beijing, it is planning a public demonstration of the JV's technology which will also be telecast live on Chinese national television.
Sure Trace China Joint Venture Announces List Of Scheduled Attendees For Live National TV Demo
August 1, 2005
PHILADELPHIA--(Business Wire)--Aug 01, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) has planned live public demonstration, of its technology, which it expects to be telecast on Chinese national television (CCTV-1) within the next 10 days. Representatives of the government, customs, military, commercial banking and tobacco industries as well as representatives of the 2008 Olympic Committee are scheduled to be in attendance in Beijing, for the demonstration.
The Company, along with Beijing Suneray Zexin Technology Limited (Suneray) who has an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong, together formed Sure Trace Technology (Beijing) Limited (the "JV").
Michael Cimino, the Company's President and Vice-Chairman said, "Mr. James Mackay our Chairman and Mr. William Chan our CEO who both participated in last week's JV signing ceremony on live TV, have, through Suneray, our Joint venture partner, arranged quite an impressive line-up of guests... all of whom who have already been in discussions with Suneray concerning the commercial uses of the technology."
Sure Trace Plans Live Demo in Philippines; In Addition To Demos Planned In Beijing; Company Chairman Concludes Series Of Meetings In Philippines
August 2, 2005
Sure Trace Responds to SEC Actions
August 4, 2005
9:00 ET PHILADELPHIA--(Business Wire)--Aug 04, 2005--
Sure Trace (OTC:SSTY.u) denies that there are any inaccuracies or inadequacies in news releases that warrant the halt of trading of its common stock by the SEC. The Company believes that the SEC, however well-intentioned, may have been misguided from sources intent on hurting the Company's business.
The Company will cooperate with the SEC and intends to provide the SEC with all relevant documents and other information as requested. Michael Cimino, the Company's CEO states, "After the SEC has had an opportunity to communicate with us and review any pertinent materials relating to our press releases, we are confident that they will agree that our stock should resume trading."
Sure Trace Security Corporation Participates in a Public Demonstration of the Anti-Counterfeiting Technologies Held in Beijing by Its Subsidiary Sure Trace Asia Limited and Its Joint Venture Partner, Suneray, on Wednesday August 17, 2005
August 17, 2005
13:28 ET BEIJING--(Business Wire)--Aug 17, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) announced that it has today participated in a public demonstration of its anti-counterfeiting technologies in Beijing, China. In attendance were over fifty persons, including representatives of National and Regional Government departments, including Military, Customs and Civilian Services, licensee of the 2008 Beijing Olympic Organizing Committee, brand manufacturers, including cigarette, pharmaceutical, as well as Chinese regional and national media.
The demonstration was put on by Sure Trace's 85% subsidiary, Sure Trace Asia Limited (STA), and Beijing Suneray Zexin Technology Limited (Suneray), the co-owners of a joint venture recently approved by the Chinese Government to commercialize Sure Trace's anti-counterfeiting technologies in China.
The demo was videotaped by Chinese television and is intended to be broadcast at a later date. Those segments will be posted on the Company's website when available; however, the Company also videotaped the demonstration and its footage should be available on the Company's website later today.
Mr. Li Ning, General Manager of Suneray, stated in his opening remarks at today's demonstration: "Through the course of our due diligence into a wide variety of anti-counterfeiting technologies available globally, we selected SSTY as it is not merely the 'best of breed' in terms of product but rather a full service solution. SSTY deals with the heart of counterfeiting and at the same time will create thousands of jobs within China, will return many millions of dollars back to the owners of brand name goods, as well as generate tax revenue to the Government that will benefit the People of China."
William Chan, CEO of SSTY and STA stated: "This was a great success today. Working with Suneray for the past several months, we have had the opportunity to meet many possible clients while at the same time working with Government organizations to gain national approval of our products and techniques. I am very proud of our own people who have worked very hard to deliver our technology to China in a fashion that has met the cultural, ethical, and economic needs of China. The solution that the Joint Venture we presented to the People of China today creates a tremendous springboard opportunity for us to create similar joint venture partnerships in other parts of Asia."
Mr. Jim MacKay, Chairman of SSTY said: "We have worked very hard for this day and the result has been fantastic. The turnout for our presentation was very good, which indicates to me that our Joint Venture Partnership is off to an excellent start. In my opinion, Suneray, working together with Sure Trace Asia and our own SSTY employees, have done a wonderful job in building a provable anti-counterfeit solution acceptable to the Chinese Government that can be expanded to the rest of the world. A very exciting part of Suneray's Government mandate is that, potentially, every single consumer good produced for both domestic consumption as well as export goods will be marked with a True Product I.D. I am confident that today marks a significant step forward in the business growth of SSTY."
As part of its roll out of products and services in China, SSTY, together with its joint venture partners, determined that the new name for its technology is "True Product I.D." Over the course of the next few weeks, SSTY intends to update its web site to promote True Product I.D.
Sure Trace Releases Shareholder Update; Company Files Litigation Against Former Officials of Sure Trace; Company is Cooperating with U.S. and Canadian Investigations
August 26, 2005
09:13 ET PHILADELPHIA--(Business Wire)--Aug 26, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) announced that it has filed a lawsuit against various former officers, directors or representatives of Sure Trace, and their newly formed company, alleging that the defendants have violated non-competition agreements with Sure Trace, misappropriated business opportunities belong to Sure Trace, and engaged in other wrongful conduct designed to damage Sure Trace.
The lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania on August 9, 2005. It is captioned Sure Trace Security Corporation v. James Barry, et al., Case No. 2:05-cv-04216-HB. The case has been assigned to United States District Judge Harvey Bartle III and can be accessed via the U.S. District Court's PACER website at https://ecf.paed.uscourts.gov/.
Sure Trace had previously engaged counsel to investigate the matter, which led to the filing of the lawsuit. It has also engaged counsel to represent Sure Trace in an ongoing formal investigation by the Securities and Exchange Commission, as well as an inquiry being conducted by the Royal Canadian Mounted Police.
Sure Trace management has learned that both investigations appear to focus on whether certain press releases issued by Sure Trace during 2004 and 2005 made proper disclosures of the matters discussed in the releases. Sure Trace's management believes that some of the releases were issued at a time when some of the individuals who have been sued by Sure Trace were in control of Sure Trace.
Sure Trace management has pledged to cooperate fully with both the SEC and the RCMP. That cooperation is ongoing. Sure Trace's counsel has communicated with the SEC in response to questions raised by the SEC staff, and will continue to do so. Comparable cooperation is ongoing with the RCMP. Although Sure Trace is confident that present management has committed no wrongdoing, it has decided not to engage in a public airing of theissues, including the motivations of those who appear to have piqued the interest of the SEC and the RCMP to conduct their investigations. "We will let the facts speak for themselves in our dealings with the regulators," said Mr. Cimino. "At the same time," Mr. Cimino said, "we will fight hard against ongoing attempts by others to besmirch our company and its officers and directors." He also stated: "Personal attacks against individuals associated with Sure Trace are disgusting and demeaning to those making those attacks." He called on those making the attacks to "cease and desist" from further personal attacks.
Mr. Cimino also said that the company continues to work on the development of business alliances in China and the Philippines. Sure Trace and its Chinese joint venture partner conducted a public demonstration last week of Sure Trace's basic technologies. Further developments will be publicly disclosed when warranted.
Sure Trace Asia Limited and Beijing Suneray Jexin Technology Announce Opening Of New Offices in Beijing BEIJING
September 8, 2005
13:59 ET BEIJING--(Business Wire)--Sep 08, 2005--
Sure Trace Security Corporation (OTC:SSTY.u) announced today that Sure Trace Technology Beijing Limited (Sure Trace Technology), the Joint Venture Company of its subsidiary Sure Trace Asia Limited (Sure Trace Asia) and Beijing Suneray Jexin Technology Limited (Suneray) have opened a new and much larger administration office, laboratory, and manufacturing facility as they have outgrown the space that was previously provided by Suneray. The new space encompasses approximately 5,200 square feet (488 sq meters) of office and administration space and an additional 12,900 square feet (1,200 Sq meters) of laboratory and manufacturing space is available for future expansion. Often referred to as Beijing's Silicon Valley, the new facilities are located in the Haidian district of Beijing.
Since the Chinese public demonstration of its products and services on Wednesday August 17, 2005, which was attended by number of key prospective clients, an edited news version has aired on Chinese National TV station CCTV5 during prime time news on Saturday September 3, 2005. A copy of this broadcast will be available on www.suretrace.com in both English and Chinese in the very near future.
Suneray and Sure Trace Asia are currently building a website (www.trueproductid.com) to specifically address True Product I.D. True Product I.D. is the banner under which our S-DNA is being branded within China by Sure Trace Technology. We have launched our updated website, which now includes a Chinese language version.
Mr. William Chan, CEO of both Sure Trace Security Corporation and Sure Trace Asia stated, "I am very proud of the progress we have made in China. Suneray has proved a most worthy partner. They have opened many doors to Anti-counterfeit business opportunities in China and with our new facilities set up; we are much stronger now to maximize these opportunities. I am also very proud of our Sure Trace Security Corporation staff in their recent successes and continuing commitment in providing training and support to the JV staff and sales force."
Mr. Li, President of Suneray stated, "These new offices and manufacturing facilities give us the sufficient space we needed to satisfactorily carry out the client's specific demands regarding the products and services. Over the next few weeks Sure Trace Technology will have its own website developed and we are happy to see that Sure Trace Security Corporation now has a Chinese language version of theirs which certainly provide a great interaction support in developing our business in China. It is great to see that Mr. MacKay and his team have obviously put a lot of effort in to getting this going with us."
Sure Trace Security Corporation Updates Financial Reports Available on Pink Sheets News Service
September 22, 2005
PHILADELPHIA, Sept. 22 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY) announced today that it has filed updated financial reports with the Pink Sheets News Service. They are available at http://www.pinksheets.com.
The reports filed include an Interim Financial Report, a Tradability Letter and a Rule 15c2-11 Information Statement. None of the financial statements has been compiled, reviewed or audited by an independent accountant. [The company's financial statements as of and for the years ended December 31, 2004 are currently being audited by an independent accountant.
There can be no assurance as to when the audit will be completed or what the results of that audit will be. Recent changes in management and the difficulty of obtaining information from prior management could affect the ability of the company to present financial statements fairly and in accordance with generally accepted accounting principles.]
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.
The stock of Sure Trace has recently been suspended by the Securities and Exchange Commission, but the suspension has ended by its own terms. 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.
Sure Trace Signs Agreement to Form Joint Venture With U.S. Company That Has Been Providing Security Solutions for Over Twenty Years
October 18, 2005
JV Partner Will License Rights to Their Proprietary and Licensed Technology, for Authentication, Anti-counterfeiting, Tracking and Tracing Systems
PHILADELPHIA, Oct. 18 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY) announced that its Chinese operating subsidiary, True Product ID Technology Limited, formerly Sure Trace Asia Limited, has, on October 4, 2005, signed an agreement with Gary Metzger, President of Amco Plastic Materials Inc. of Farmingdale, New York, to form a joint venture (JV) to utilize their anti-counterfeiting/authenticating systems in the Far East.
Amco currently provides security solutions for worldwide use and deals with well-known public and private organizations. Amco is prohibited from mentioning publicly the exact identities of these customers. Amco's President, Gary Metzger, will also sit on the Advisory Board for both True Product ID Technology Limited and True Product ID Technology (Beijing), formerly Sure Trace (Beijing).
James Mackay, STA's Chairman, said, 'Amco's technology further enhances our existing suite of technologies and will allow us to reach the market in a relatively short period. We are also pleased that Mr. Metzger has agreed to sit on our Advisory Board. He will also bring both contacts and years of operational experience to the company.'
Founded in 1955, Amco distributes and produces custom compounds, dry color, additives and master-batches and anti-Counterfeiting taggants and technologies. Amco offers unique anti-counterfeiting taggants and taggant combination technology, including additives and master-batches for the system and the scanner system and software, to make finished products difficult, if not impossible to counterfeit.
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.
The stock of Sure Trace has recently been suspended by the Securities and Exchange Commission, but the suspension has ended by its own terms. 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.
Sure Trace Security Corporation Announces Cooperation Agreement With Brand315.com in China
October 20, 2005
BEIJING, China and PHILADELPHIA, Oct. 20 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation announced that True Product ID Technology (Beijing) Limited, formerly Sure Trace Technology (Beijing) Limited, a 50-50 JV of its 85% Subsidiary, True Product ID Technology Limited, formerly known as Sure Trace Asia Limited (STA), and Beijing Suneray Zexin Technology Limited has completed a cooperation agreement with The National Brand Cartel Anti-Counterfeit Cooperation Network - Brand315.com.
Brand315.com is established under the authorization of the Ministry of Quality Supervision, Inspection and Quarantine of the People's Republic of China. It is a network introducing anti-counterfeit technologies, services and law enforcement for branded products. In attendance at the signing of the agreement were Mr. James MacKay, Chairman of SSTY; Mr. Li Ning, President of True Product ID Technology (Beijing) Limited; Mr. Zhao Zeyuan, director of the Brand Protection, China National Joint Rights Maintenance Cooperation Network of Brand Enterprises; Mr. Qi Xuan, secretary-general of China Association for Technical Supervision Information.
The signing ceremony was held on September 28, 2005 at the China National Institute of Standardization. Due to a national holiday, the finalization of all required documentation was not completed until recently. In the ceremony, speeches were made by Mr. Qi Xuan, Mr. Li Ning and Mr. James Mackay. Mr. Qi Xuan awarded the JV, True Product ID Technology (Beijing) Limited with an honor certificate of "Promotion Unit of Anti-counterfeiting Technologies Application Designated by Protected Key Brands of China National Joint Rights Maintenance Cooperation Network of Brand Enterprises Market Inspection System".
Mr. Qi Xuan also awarded Mr. James Mackay with a letter of appointment as the "Vice Chairman of China National Joint Rights Maintenance Cooperation Network of Brand Enterprises". Mr. James Mackay was named Vice Chairman of Nation Brand 315 Cartel. Brand315 provides security labels to the top 600 of China's national brands. Their clients cover all areas of consumer goods and collectively their clients distribute substantially into the billions of units of goods.
In step with the Peoples Republic of China Government' initiatives to stop counterfeiting and contraband, Brand315 has been searching for technology to augment its current products. Management of SSTY believes that SSTY's S-DNA brand protection technology works well with Brand315 label systems as S-DNA can be easily applied to the labels.
Mr. Li, President of True Product ID Limited stated, "We are very proud of this agreement. We view Brand315.com as a perfect partner for True Product ID as they already have a strong business relationship with many of China's major Brands and give True Product ID a tremendous opportunity to close business quickly."
Mr. James Mackay added, "Brand315.com has the full support of the Government of China. Both the Government and the Brands are committed to stopping counterfeiting and together we offer a powerful solution at an affordable price."
In other news, SSTY has commenced the search for a Chief Operating Officer for its Chinese operation. As part of its search, SSTY has updated its web pages to include a Jobs and Careers section as SSTY anticipates the need for additional staff to meet its obligations to support the efforts of STA and its Joint venture Partner, True Product ID.
Sure Trace Security Corporation Announces Approval of Globe Staff Consulting Acquisition By French Government
October 27, 2005
All Required Documentation Completed and Approved; Globe Staff Officially
Wholly Owned Subsidiary of Sure Trace
BEIJING, PHILADELPHIA, and BAYONNE, France, Oct. 27 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY) announced that the mandatory French administration regulations for the purchase of Globe Staff Consulting (GSC) have now been completed and approved by all French Government Ministries. A full internal audit and examination of GSC technologies took place, conducted by Sure Trace's CFO Mr. Joseph Repko and staff last week in France.
Newly appointed CEO for GSC, Mr. Cameron Moriarty, stated, "The completion of all documentation for French Authorities now allows us to focus on delivery of our GEOLOCATION tracking technologies. GSC is well-established in France as a leader in security technologies and now we can begin to introduce these products and services to the rest of the world."
The management of Sure Trace believes that, with the purchase of GSC completed, it now has one of the most effective mixes of tracking and tagging security services available in the world.
Mr. Moriarty will step down as COO and member of the Board of Directors of the parent company, Sure Trace, and will assume the position of Gerant/CEO of GSC. Mr. Jean Gilles Subervie, former CEO of GSC, will relinquish that position and assume the position of CTO, a role he also maintains with the parent company.
Sure Trace Security Corporation, Together With Its Joint Venture Partner, True Product ID (Beijing) Limited, Met With the Central Government Departments of China at the People's Hall In Beijing, China to Present Its Technologies and Services to Government Ministries Responsible for Internal and International Security Issues
October 31, 2005
BEIJING and PHILADELPHIA, Oct. 31 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY) participated today together with its Joint Venture partner, True Product ID (Beijing) Limited, in a meeting with The People's Republic of China's Central Government. The meeting was held at the People's Hall, which is connected to the People's Congress in Tiananmen Square, a very rare honor presented to selective Chinese and even rarer still foreign corporations. Tiananmen Square is symbolic of the very pinnacle of political power in China, much like the White House is in the United States.
During the presentation, which was attended by more than seventy (70) of China's relative political and security leaders including:
-- General Office of the State Council of PRC
-- Division of Security of the Chinese People's Political Consultative
Conference (CPPCC)
-- Division of Security of the National People's Congress (NPC)
-- Division of Security of the Central Guard Bureau
-- State Secrets Bureau of PRC
-- China Banking Regulatory Commission
-- China Unicom
-- State Patent Bureau of PRC
-- The Second Research Institute of the Ministry of Public Security
-- The Customs General Administration of PRC
-- Bank of China
-- Zhongcheng Satellite Technology Center Co., Ltd.
-- And numbers of bureau-level cadres ...
True Product ID demonstrated its security solutions including S-DNA, its track and trace system - KMACK, and the world's first Personal Biometric Fingerprint ID system. The meeting is the culmination of months worth of effort and organization to deliver a complete security package to the people of China, setting a new world standard for document, consumer product, and personal security solutions.
Mr. William Chan, CEO of both Sure Trace and Sure Trace Asia, stated, 'Today was far more than a mere milestone in our goal of providing a superior security solution. Today we had and took the opportunity to show some of the most powerful and important decision makers in all of China how our combined technologies can benefit the people, the economy in terms of jobs and taxes, and in fact the whole of the world.'
Mr. Li, President, True Product ID, stated, 'Over the past few months we have held many presentations with various corporations within China. Now that we have been accepted as a security standard by the Central Government these corporations will act quickly to participate in our project. I am proud of our results and of the great effort and dedication shown by our staff. I am also very happy for the People of China as what we offer will improve their very lives.'
Mr. James MacKay, Chairman of SSTY, STA, and True Product ID, in his opening remarks at the presentation stated in part, 'The fact we are all here today shows that the Government of China is not just talking but in fact taking action and leading the way to establish a world standard to fight crime in the form of counterfeiting, identity fraud, and contra-band.'
Sure Trace Security Corporation Announces Agreement With Innov-X Systems, Inc.
November 4, 2005
BEIJING and PHILADELPHIA, Nov. 4 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY) announced that it has signed an agreement with Innov-X Systems, Inc., wherein Sure Trace has agreed to utilize Innov-X's Scanners for use in connection with its SDNA solutions on a worldwide exclusive basis and Innov-X has agreed to make the XRF Scanners for Sure Trace on an exclusive worldwide basis.
Initially, Innov-X will manufacture/assemble the Innov-X XRF elemental Scanners, software and related intellectual property (including all enhancements and revisions/redesigns thereto) in its present facilities in the US, however due to the anticipated increase in the volume of Scanners required, Innov-X will set up a manufacturing operation in China for the sole purpose of producing Scanners for delivery to Sure Trace and its China-based clients.
The units will be private labeled under the True Product ID brand name and can be designed/redesigned by Innov-X in conjunction with Sure Trace to fit its specific clients' needs. The manufacturing of Scanners in China goes into effect after Sure Trace meets certain order minimums, which the Company's management feels it will presently achieve.
SSTY Seeks to Enter North American Market
November 18, 2005
BEIJING and PHILADELPHIA, Nov. 18 /PRNewswire-FirstCall/ -- Beginning in January 2006, Sure Trace (OTC Bulletin Board: SSTY) plans to hold a series of public demonstrations of Sure Trace's products and services across the United States in an effort to recruit potential distributors. Management believes that Sure Trace's True Product ID Solution, which has been chosen by a variety of sectors in China to be their anti-counterfeiting, tracking and authentication solution of choice, can achieve global leadership in commercializing these vital solutions.
Sure Trace is seeking to become the standard for anti-counterfeiting solutions. The potential market for such products is immense. Sure Trace believes that its solutions have the technical characteristics that, once exposed to the market, will prove very attractive to both industry and government. In its initial foray into the North American market, the company is targeting Los Angeles, Miami, New York and Dallas for the Expos designed to recruit North American distribution.
Sure Trace plans to host two demonstrations per city. The afternoon sessions will be programmed and designed for potential distributors and evening sessions will be designed for potential investors. During the demonstrations, potential distributors will learn our price strategy, business plan, business model, and how to operate a distributorship. Sure Trace will reveal to potential investors what Sure Trace believes makes it a potentially dominant commercial force in the field of anti-counterfeiting, tracking and authentication solutions. Sure Trace believes that its software database, different levels of security products and ability to be commercially ready now will combine to enable it to begin developing a network of distributors in North America, starting in 2006.
James Mackay, the Company's Chairman stated: 'I believe in the integrity of our product and Company. It is now time for the public to see, through public demonstrations, the fact that Sure Trace has positioned itself to be the leader in the field of anti-counterfeiting solutions. Sure Trace has developed partnerships in China that are based on the quality of its product and its adaptability to practical uses. Our goal in China was to help the Chinese Government combat the global problem of counterfeiting. I believe the outcome of these demonstrations in the U.S. will prove the value of the product to the North American market.'
Sure Trace also plans to hold a conference call with shareholders and other interested parties on Monday, November 21, 2005 at 6:00 PM EST. Information on how to participate is posted at http://www.suretrace.com .
SSTY's JV Signs Contract With Chinese Government-Sponsored Anti-Counterfeiting Network
November 21, 2005
BEIJING and PHILADELPHIA, Nov. 21 /PRNewswire-FirstCall/ -- Sure Trace
Security Corporation (OTC: SSTY) announced that True Product ID Technology
(Beijing) Limited has signed a service agreement with The National Brand
Cartel Anti-Counterfeit Cooperation Network - Brand315.com, to deliver the
True Product ID anti-counterfeiting technology. True Product ID Technology
(Beijing) Limited is a joint venture owned 50% by a Chinese corporation,
Beijing Suneray Zexin Technology Limited and 50% by True Product ID Technology Limited, 85% of which is owned by Sure Trace.
Brand315.com is established under the authorization of the Ministry of
Quality Supervision, Inspection and Quarantine of the People's Republic of
China. It is a network introducing anti-counterfeit technologies, services
and law enforcement for branded products. Brand315 provides security labels
to top national brands in China and has 600 active members. Its clients cover
all areas of consumer goods and, collectively, distribute billions of units of
goods per day.
Brand315 has informed Sure Trace that it chose the Company's solutions,
collectively known as True Product ID, because it recognized that the
components of this one solution fit the varied and specific needs of all
Brand315's members. According to the feedback from Brand315, what set the Company apart from other technologies is that we have demonstrated the present ability to deliver the technologies developed for China and deploy them across many different applications - from controlling and tracking counterfeit products, containers, authenticating precious artifacts, identity authentication, transportation systems, munitions and document management.
This initial pilot program contract calls for the joint venture to mark
2 billion labels of the top brands in China. If this initial pilot program is
completed as planned, Company officials estimate that the total receipts under this contract will approximate $5,000,000 over the next 3 months. The amount may vary due to fluctuations in the currency exchange rate.
This number of items to be marked in this initial agreement, 2 billion
units, is just the average daily amount of units commonly processed by the
Brand315 network.
The Company will be providing scanners (both from Innov-X and AMCO),
taggants, the services of its proprietary, remote, real-time authentication
software system, KMACK, and networking to the central database.
James Mackay, the Chairman of the Company said, "For the most part of the
last year, our team here in China has worked extremely hard to provide China
with a total anti-counterfeiting solution. China has chosen to take this
important step in the war on counterfeiting to put a stop to counterfeit goods
not only in China but the world." He went on to say: "True Product ID is very
proud to support the Chinese government in establishing a world standard and
building the spirit of 'one world one dream.'"
Sure Trace to Release Video Update to Shareholders From Chairman of the Board of Directors
November 30, 2005
BEIJING and PHILADELPHIA, Nov. 30 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY - News) announced that as part of SSTY's ongoing commitment to be responsive to shareholder requests for frequent updates and information regarding current and planned activities by SSTY, its subsidiaries, and affiliate companies, a video interview will be released by Mr. James MacKay, the Chairman of its Board of Directors, on Monday, December 5, 2005. The Company encourages shareholders to participate by sending questions to info@suretrace.com. To the extent that the SEC disclosure rules allow, all questions will be answered.
European Subsidiary of Sure Trace, Globe Staff Consulting, Successfully Completes Field Audit With French Police of its Mobile Tracking Module
December 7, 2005
BEIJING, PHILADELPHIA and BAYONNE, France, Dec. 7 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC Bulletin Board: SSTY) announced that its wholly owned subsidiary, Globe Staff Consulting (GSC), is pleased to announce that it is now in receipt of the first field test order from the French Ministry of the Interior. After a total of 8 months research and development (R&D) and considerable negotiations, meetings and problem solving, the delivery of GSC's newest tracking prototype to the French police has passed all their initial tests. Upon the completion of the field trials, which will be audited over a period of 4 weeks, final discussions will take place to determine production and delivery timelines. GSC will estimate final pricing and quantities in January to coincide with the opening of the Company's new R&D lab in Beijing China.
The opening of R&D facilities in China will allow the Company to reduce development costs and overhead while also making delivery of the tracking system in China more cost effective.
MORE ABOUT THE TRACKER
GSC's tracking module is a highly sophisticated technology, which utilizes three geolocalization processes comprising: 1) GPS (Satellite locator); 2) GSM (mobile locator); and 3) Radio (Gognometric Doppler effect system). It has an onboard memory which saves all data and can be controlled via a laptop computer coordinated with a control center & GSC's proprietary logistical software, which is ready
I'm buying it! I think a lot of the will hold for much higher pps because of the large spread. IMO people will hold until it gets back to the pink sheets where there is more liquidity.
Yeah looking good Tex, I think we hit .015 to .016 today and settle about .013. I rembember you from I think it was hisc board. How is the wife. LOL
After reviewing, it looks like the CCC mark on chinese products was developed in 2002. My guess is that since this is the agency that we are authorized under that they will be replacing the CCC mark with S-DNA.
The Certification and Accreditation Administration of the People’s Republic of China - (CNCA) is a governmental organization authorized by the State Council to establish, guide, implement and supervise the Compulsory Product Certification System – CPCS. 19 categories of products corresponding to 132 HS product codes are subject to the CPCS. These products must obtain the China Compulsory Certificate and CCC Mark before they can be exported to or sold in China.
CNCA functions and duties:
* To draft and modify the First Catalog of Products Subject to Compulsory Certification that was published jointly with AQSIQ.
* To designate and issue implementation rules set out for certification of products listed in the Catalog
* To designate certification bodies, testing laboratories, inspection organizations, and Certificate mark issuing bodies.
* To publish an official list of certified products and their relevant manufacturers.
* To handle all complaints and appeals regarding compulsory certification.
* To direct AQSIQ local branches to investigate compulsory certification violations.
* To investigate breach of rules by certification, inspection and test organizations.
CNCA is required to keep certified products commercially and technically confidential. CNCA is prohibited from providing consulting services and/or participating in the development of products being certified.
As its only fully authorized representative in the United States, SIMCOM provides customers with turnkey services regarding China's technical safety certifications for regulated products, required to obtaining the CCC Mark.