InvestorsHub Logo
Post# of 353150
Next 10
Followers 0
Posts 1159
Boards Moderated 0
Alias Born 01/12/2006

Re: None

Thursday, 04/20/2006 1:39:20 PM

Thursday, April 20, 2006 1:39:20 PM

Post# of 353150
Sure Trace Security Corporation SSTY) today announced that it has acquired the
controlling interest in a company, PowerSource Corporation
(Pink Sheets: PSRE), and has vended its wholly owned subsidiary, Globe Staff
Consulting, into the acquired company, which shall be renamed Globe Staff
Consulting Corporation (GSCC).
SSTY received approximately ninety-three percent (93%) of the shares
PSRE/GSCC in exchange for cash and other consideration.
SSTY and GSCC shall enter into a Master Licensing Agreement wherein SSTY
shall retain (on behalf of itself, its assigns and /or designees) the
ownership of the technology in GSCC (including all enhancements and revisions
thereto) and certain exclusive and non-exclusive rights in various territories
but shall grant GSCC a Master License from SSTY in the territories and markets
not specifically reserved to SSTY, under the terms and conditions to be
contained therein. GSCC shall have certain exclusive and non-exclusive rights
as will be set forth in said Master License. In return for the Master
License, GSCC shall pay SSTY a royalty and a monthly fee in the amount and
according to the terms and conditions set forth in said Master License
agreement.
SSTY will also enter into a Services Agreement between True Product ID,
Inc. (TPID) (OTC Bulletin Board: ONTV) and GSCC whereby, in return for agreed
upon consideration, TPID performs certain administrative and operational
duties and functions and performs/assumes certain obligations of GSCC in order
to manage and control the day-to-day worldwide functions of GSCC. GSCC may
also grant TPID certain rights as may be specified in said Services Agreement.
SSTY and GSCC intend to file important information related to the spin-
off, including this release, with the Securities and Exchange Commission on
Form 8-K.
"This transaction is similar to the template we utilized with the
TPID/ONTV license (that is, a monthly minimum will be paid to SSTY) but it
differs in that SSTY shall retain a portion (or possibly all) of the shares
itself. If permissible, the company intends to deliver an as of yet
undetermined portion of the shares in the public company to SSTY's then-
present shareholder base," said Michael Cimino, SSTY President, although he
cautioned that no specific plans have been decided at this time and that the
shares, if any, which may be issued to its then-current shareholders, will be
restricted. The company intends to effectuate this potential partial dividend
of the acquired shares only after it receives an Opinion of Counsel that the
partial dividend transaction is in full compliance with federal securities
laws. "As with the TPID/ONTV arrangement this will also provide a potential
source of regular income to SSTY," Cimino added.
Regarding the ONTV/TPID dividend, the company added that the company
attorneys will shortly be delivering a letter of instructions to the transfer
agent to be delivered to shareholders which will also include instructions to
the shareholders from the transfer agent regarding the implementation
procedures. More details will be released prior to the distribution date on
the company's website. The Company's expectation is that the NASD will
declare an ex-dividend date of April 25, 2006, as requested by the Company.
About Sure Trace Security Corporation
Sure Trace produces integrators for anti-counterfeiting and security
surveillance applications and is a provider of integrated tracking devices.
The Company intends to deliver turnkey solutions for governments, armed
forces, and industry, through its own proprietary technology and through
aggregating the technology, products, and services of third parties via
licensing agreements and/or joint ventures. For more information go to:
http://www.suretrace.com.
SAFE HARBOR STATEMENT: This news release contains "forward-looking
statements" that are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. "Forward-looking
statements" describe future expectations, plans, results, or strategies and
are generally preceded by words such as "future," "plan" or "planned," "will"
or "should," "expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results to
differ materially from those projected in the forward-looking statements,
including the risks that our products may not achieve customer acceptance or
perform as intended, that we may be unable to obtain necessary financing to
continue operations and development, and other risks. You should consider
these factors in evaluating the forward-looking statements included herein,
and not place undue reliance on such statements. The forward-looking
statements are made as of the date hereof and Sure Trace undertakes no
obligation to update such statements. In August 2005, the common stock of
Sure Trace was suspended from trading by the Securities and Exchange
Commission, but the suspension ended in accordance with the securities laws
after ten days. Management of Sure Trace is currently working with the
broker-dealer community and regulators to permit quotations to be entered as
soon as possible. More information will be provided to the public when
circumstances warrant.
Contact: Michael Cimino, President, 215-972-6999 or
michaelc@suretrace.com
SOURCE Sure Trace Security Corporation


Contact Information:
Michael Cimino, President, Sure Trace Security, +1-215-972-6999 or michaelc@suretrace.com

WebSite:
http://www.suretrace.com/


A True Wise Person Realizes How Much They DON’T Know, Rather Than How Much They DO..

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.