OT NEWS
I know alot of people are into SSTY on this board. this will be the next jump imo
Aug 18, 2005 (AsiaPulse via COMTEX) -- (Full text of a statement. Contact details below.)
BEIJING--(BUSINESS WIRE)--Aug. 17, 2005--Sure Trace Security Corporation (OTC:SSTY) 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.
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: 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
AI
