Law Enforcement Associates Acquires ``Less Lethal'' Weapons Patents from one of the Founders of Tasertron
YOUNGSVILLE, N.C., Sep 15, 2004 (BUSINESS WIRE) -- Law Enforcement Associates Corporation ( LENF ), a surveillance and security technology company, announced today the acquisition of patents which will allow Law Enforcement Associates to market and manufacture Less Lethal, Electrical Discharge Weapons (ESD) to the Law Enforcement and Corrections Market. In exchange for the patents, the Company agreed to issue to the holders of the patents a total of 1,500,000 shares of the Company's restricted common stock. The patents were purchased in part from James McNulty, Jr., who was one of the founders of Tasertron.
Commenting on the acquisitions, Paul Feldman, President of LENF, stated, "We are very excited to enter this market. We have acquired these patents from individuals who have many years of experience of designing and manufacturing less lethal, Electro-muscular Disruption (EMD) electrical discharge weapons. We are currently assembling a team of designers, engineers, trainers and marketing staff to quickly introduce our weapons to our current customer database of over 34,000 Law Enforcement and Corrections officers." Director and State Senator Tony Rand added, " Law Enforcement Associates has a long history of providing quality equipment to Law Enforcement, Military and corrections both domestically and internationally. These acquisitions should expand our ability to service our clients."
Zachary Landry of Arabella Securities advised Law Enforcement Associates on this transaction. Arabella Securities provides equity research, sales and trading services to institutions, as well as advisory and investment banking services to corporate clients. www.ArabellaSecurities.com .
About Law Enforcement Associates Corporation
Law Enforcement Associates, Inc. (LENF.OB), headquartered in Youngsville, N.C., manufactures and markets a diverse line of undercover surveillance products including a complete line of audio surveillance equipment. LEA currently markets to the Military, law enforcement, security and corrections personnel throughout the world, as well as governmental agencies, multinational corporations and non-governmental organizations. For more information on LEA, visit www.leacorp.com.
SOURCE: Law Enforcement Associates
Law Enforcement Associates Paul Feldman, 919-554-4045 IR@Lea.com
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