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."
It would be my guess that since Mr. James Mackay was appointed Vice Chairman of Brand 315 Cartel and the fact that SSTY's s-dna works well with Brand 315's label systems, SSTY will get the bulk of the contracts that will be awarded by Brand 315 Cartel as it is stated "we offer a powerfull solution at an affordable price."
If you look at at January 2005 press release where the company stated that they would license distributors in China and take a 15% royalty with the distributor paying all the cost for marketing and distribution. Then when Cimino came on board they inked a deal with the Chinese distributor Sure Trace Asia (STA) now True Product ID Technology Limited (Beijing). The original deal was 15% owned by SSTY (USA), then it changed to 40% owned by SSTY (USA) right before the demonstrations in Bejing, then after the demonstrations SSTY ended up with 85% of (STA) with a 50/50 joint venture agreement with Suneray.
So instead of 15% we got 42.5 % of the deal.
Would you say that SSTY lied in their previous press releases? They were working on their plans for distributorship agreements and their plans changed. So just because some items from previous press releases do not come true, you have to look at the entire picture and look at what we ended up with, which is a much better deal thaks to William Chan and Mr. Michael Cimino.
