Since the acquisition of Globe Staff Consulting and Sensor Media is something that I need to learn more about, I thought I would post everything that I could obtain from press releases here for discussion. I want to learn more about the technology and how it is going to be applied to SSTY's S-DNA technology in China.
Globe Staff Consulting
On Globe Staff’s translated website there are a number of companies and products displayed, many of which I believe are part of Globe Staff Consulting and Sensor Media, however the website is outdated and I would not rely on information from that page as currently accurate information. I would prefer to read the press releases issued by Sure Trace in regards to the Globe Staff acquisition to get a more exact description of the technology and it’s applications.
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 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.
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 as well.
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