PRESS RELEASE
February 13, 2014
For Immediate Release
Contact:
Media Relations
631-240-8800
Applied DNA Sciences
Applied DNA Sciences Teams with Leading Government Consulting Firm to Tackle Supply Chain Counterfeiting
STONY BROOK, NY, February 13, 2014. Applied DNA Sciences (OTCQB: APDN), (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, and LMI have agreed to join their efforts and expertise aimed at protecting national security and commercial supply chains from counterfeit electronic parts. This collaborative relationship seeks to educate the public and private sectors on the increasing risk posed by counterfeits, and encourage the development and fielding of preventive measures.
LMI has deep supply chain consulting and inventory management experience for the military and across the federal government. APDN invests in industry-leading research and provides a variety of authentication solutions to both commercial and government clients.
"Supply chains critical for commerce and security are under attack. In the electronics arena, remarking, cloning, and manufacture from salvaged die are creating increasingly sophisticated counterfeits. Industry and public sector users alike are struggling to ensure authentic components in this flood of fakes," said Joe Doyle, senior consultant for LMI. A cutting edge technology company in this space working with a leading supply chain consultancy is just the sort of collaboration that can make a difference, Doyle added.
Counterfeit electronic items pose significant dependability, quality, and safety risks to private and public sector supply chains. "Detection and Avoidance of Counterfeit Electronic Parts" (Section 818 of the National Defense Authorization Act (NDAA) for Fiscal Year 2012) began to address responsibilities for Department of Defense (DoD) contractors to detect and avoid using or including counterfeit electronic parts or suspect counterfeit electronic parts. Commercial and government experts alike recognize that these risks extend well beyond counterfeit electronics. As a result, federal entities such as DoD, the General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA) are initiating action to broaden the Federal Acquisition Regulations (FAR) to cover other high-risk commodities.
About LMI:
LMI is a leading consultancy committed to helping government leaders and managers reach decisions that make a difference. As a private not-for-profit organization, LMI is a trusted advisor that provides management consulting, research, and analysis to governments, other nonprofit organizations and select commercial enterprises.
About Applied DNA Sciences
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and DNANet®, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, provide a forensic chain of evidence and can be used to prosecute perpetrators.
The statements made by APDN may be forward-looking in nature. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K, filed on December 20, 2013 and our subsequent quarterly reports on Form 10-Q. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
media contact Mitchell Miller, 631-240-8818
investor contact Debbie Bailey, 631-240-8817
web www.adnas.com
twitter @APDN, @APDNInvestor.
