$$ Sure Trace Security Corp. $$
Veteran China Hand (Formerly of the Committee of 100 and Harvard Business School) Joins True Product ID as Managing Director, China
Monday April 17, 10:19 am ET
BEIJING and PHILADELPHIA, April 17 /PRNewswire-FirstCall/ -- Richard A. Bendis, CEO and President of True Product ID, Inc. (OTC Bulletin Board: ONTV - News), a wholly owned subsidiary of Sure Trace Security Corporation (OTC: SSTY - News), today announced the appointment of Frederick J. Young as Managing Director, China and Chief of Staff, Office of the Chairman.
As former Research Director for the Committee of 100, a national organization composed of many of the most influential American citizens of Chinese descent - http://www.committee100.org/aboutus/aboutus.htm , http://www.committee100.org/media/media_members_inaction.htm - Mr. Young interacted with senior Chinese leaders to help strengthen Sino-US relations. In 2005, on the Committee's behalf, he prepared a landmark survey about American attitudes towards China presented to China's National People's Congress Chairman, Wu Bangguo, China's State Councilor Tang Jiaxuan, and current Chinese Ambassador to the US Zhou Wenzhong, and helped organize meetings with top-ranking leaders from the Chinese Ministry of Commerce, Ministry of Foreign Affairs, and State Council and with senior US Embassy officials.
He will be in attendance for China's President Hu Jintao's upcoming state visit with President Bush during which the two world leaders will discuss, among other things, joint anti-piracy efforts.
Previously, Mr. Young worked for the Harvard Business School's Asia-Pacific Research Center in Hong Kong, where he developed case studies on the world's and China's largest shipping company, COSCO, China's Internet conglomerate Alibaba.com, and the Shenzhen Stock Exchange, and where he helped lead research on branding and the intellectual property right issues in China. His case studies are widely taught at HBS and constitute the core curriculum of China's equivalent to HBS, the prestigious Tsinghua University's School of Engineering and Management. Prior to that, he managed a Hong Kong private investment firm which was one of the initial developers and distributors of digital video (MPEG) technology in China.
"Fred Young is the quintessential 'China hand' uniquely respected by business and government leaders throughout Greater China," commented James MacKay, Chairman of both Sure Trace and True Product ID. "The addition of Fred and his extraordinary relationships, network, understanding, and experience in connection with China, especially as they pertain to next generation technology and intellectual property rights, is a reaffirmation of, and will bolster, our strong respect and friendship for and with China and TPID's and China's joint commitment towards establishing a Global Anti-Counterfeiting Standard. Dedicated to establishing such a Global Anti-Counterfeiting Standard, we continue to strive together towards China's vision of 'One World, One Dream.'"
"Rampant copyright infringement tops the political agenda as the Presidents of both China and the USA meet in Washington, DC this month," said Fred Young, who will attend formal meetings and functions connected with President Hu's upcoming visit. "Having dedicated a career to China affairs, I have a profound admiration for the extraordinary mutual respect and friendship that Chairman James MacKay has worked so hard to cultivate with China. Counterfeit pharmaceuticals, automobile and airplane parts, and consumer products have injured or killed countless people around the world. No other company is better positioned to halt the spread of counterfeiting worldwide than TPID and to establish a Global Anti-Piracy Standard that will not only help save businesses and governments billions of dollars but will more importantly also help save lives."
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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: http://www.suretrace.com.
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that our products may not achieve customer acceptance or perform as intended, that we may be unable to obtain necessary financing to continue operations and development, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and Sure Trace undertakes no obligation to update such statements. In August 2005, the common stock of Sure Trace was suspended from trading by the Securities and Exchange Commission, but the suspension ended in accordance with the securities laws after ten days. Management of Sure Trace is currently working with the broker-dealer community and regulators to permit quotations to be entered as soon as possible. More information will be provided to the public when circumstances warrant.
Source: True Product ID, Inc.
* SSTY (17.04): Neuer Managing Director für True Product ID (ONTV)
Richard A. Bendis, Präsident von True Product ID (TPID/ONTV), einer 100%igen Tochtergesellschaft von Sure Trace, hat heute bekannt gegeben, dass Frederick J. Young als Geschäftsführer von ONTV gestimmt wurde.
Als ehemaliger Research Direktor von "Committee of 100", einer nationalen Kommission bestehend aus den einflussreichsten Amerikanern chinesischer Herkunft, organisierte Herr Young Mettings für die US Botschafter mit den wichtigsten Führern des chinesischen Wirtschafs- und Aussenministeriums.
Herr Young wird bei Chinas Staatsbesuch von Präsident Hu Jintao mit Präsident Bush anwesend sein, wobei unter anderem auch gemeinsame Unternehmungen gegen die Fälschungsindustrie besprochen werden.
James MacKay, Vorsitzender von Sure Trace und True Product ID sagt: "Herr Young ist bei der Regierung und in der Wirtschaft angesehen. Seine Erfahrung und seine Beziehungen sind für China's und True Product ID's Bemühungen einen globalen Anti-Fälschungsstandard zu entwickeln von großem Vorteil."
Herr Young sagt: "Die steigenden Copyright-Verletzungen sind ein wichtiger Teil der Agenda beim Treffen zwischen Präsident Bush und Präsident Hu Jinato. Ich bewundere Herrn MacKays bisheringe Leistungen in China. Gefälschte Medikamente, Automobil- und Flugzeiteile haben bereits viele Menschenleben gefordert. Kein anderes Unternehmen ist so gut positioniert wie TPID. "
Also News Release (U-ONTV) INTV INC
Also News Release (U-PSRE) POWERSOURCE CP
BEIJING and PHILADELPHIA, April 20 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation today announced that it has acquired the controlling interest in a company, PowerSource Corporation , and has vended its wholly owned subsidiary, Globe Staff Consulting, into the acquired company, which shall be renamed Globe Staff Consulting Corporation (GSCC).
SSTY received approximately ninety-three percent (93%) of the shares PSRE/GSCC in exchange for cash and other consideration.
SSTY and GSCC shall enter into a Master Licensing Agreement wherein SSTY shall retain (on behalf of itself, its assigns and /or designees) the ownership of the technology in GSCC (including all enhancements and revisions thereto) and certain exclusive and non-exclusive rights in various territories but shall grant GSCC a Master License from SSTY in the territories and markets not specifically reserved to SSTY, under the terms and conditions to be contained therein. GSCC shall have certain exclusive and non-exclusive rights as will be set forth in said Master License. In return for the Master License, GSCC shall pay SSTY a royalty and a monthly fee in the amount and according to the terms and conditions set forth in said Master License agreement.
SSTY will also enter into a Services Agreement between True Product ID, Inc. (TPID) and GSCC whereby, in return for agreed upon consideration, TPID performs certain administrative and operational duties and functions and performs/assumes certain obligations of GSCC in order to manage and control the day-to-day worldwide functions of GSCC. GSCC may also grant TPID certain rights as may be specified in said Services Agreement.
SSTY and GSCC intend to file important information related to the spin- off, including this release, with the Securities and Exchange Commission on Form 8-K.
"This transaction is similar to the template we utilized with the TPID/ONTV license (that is, a monthly minimum will be paid to SSTY) but it differs in that SSTY shall retain a portion (or possibly all) of the shares itself. If permissible, the company intends to deliver an as of yet undetermined portion of the shares in the public company to SSTY's then- present shareholder base," said Michael Cimino, SSTY President, although he cautioned that no specific plans have been decided at this time and that the shares, if any, which may be issued to its then-current shareholders, will be restricted. The company intends to effectuate this potential partial dividend of the acquired shares only after it receives an Opinion of Counsel that the partial dividend transaction is in full compliance with federal securities laws. "As with the TPID/ONTV arrangement this will also provide a potential source of regular income to SSTY," Cimino added.
Regarding the ONTV/TPID dividend, the company added that the company attorneys will shortly be delivering a letter of instructions to the transfer agent to be delivered to shareholders which will also include instructions to the shareholders from the transfer agent regarding the implementation procedures. More details will be released prior to the distribution date on
the company's website. The Company's expectation is that the NASD will declare an ex-dividend date of April 25, 2006, as requested by the Company.
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: http://www.suretrace.com.
Voeller will be responsible for the strategic vision of TPID technology innovation and systems development of key anti-counterfeiting technology applications. "John Voeller adds the industry expertise and experience to expand the True Product ID technology across multiple business applications. His global strategic vision will be an asset that will change anti-counterfeiting methods for the future," comments James Mackay, Chairman of True Product ID.
"John Voeller is a global leader and innovator in technology. His engagement as a consultant to the Department of Homeland Security and his American Society of Mechanical Engineers (ASME) Fellowship in the office of Science and Technology Policy for the Executive Office of the President provide experience that will aid in the growth and market position of our new company," comments Richard A. Bendis, President and CEO of True Product ID.
"The problem of counterfeit goods of all kinds has always been with us and the impact of its growth is accelerating. The need for an accurate high-speed identification of goods as original in quality and source is equally critical. None of the traditional technologies of identification of goods is sufficient to perform these functions. True Product ID has taken a different tack to open the opportunity for true validation and verification," comments John Voeller.
Voeller has been responsible for the creation of five- and 10-year automation strategies and he is the principal architect of Powrtrak, the automated engineering system of Black & Veatch that was used to build over 600 power facilities around the world. This engineering system has been reviewed in articles in ENR, Forbes ASAP and CIO magazines. Voeller has started numerous companies in the technology sector and has been a board member on a number of others.
He has advised societies including ASME, the American Institute of Steel Construction, the American Society of Civil Engineers, the Civil Engineering Research Foundation, and has worked with a number of Federal agencies looking at the future automation in both physical and cyber domains.
He has served as Technical Leader for the Chemical, Biological, and Radiological Technology Alliance (CBRTA), working on advanced technology to deal with terrorist threats with 13 companies including Honeywell, 3M, Motorola, General Dynamics, Johns Hopkins-APL, Mayo Clinic, CUBRIC, Cargill, BD Sciences and Syracuse Research.
He has also served as chairman of ASME's Critical Asset Protection Initiative, leading eight teams of world experts in planning first responder actions and risk analysis of terrorist incidents.
Voeller was co-founder and chief technical officer of BV Solutions Group, as well as a recipient of the CIO Enterprise Value Award for 1997 from CIO magazine and the Award of Excellence from Engineering News Record magazine for 1998. He has also been the recipient of the Ed Forrest Award For Highest Achievement in Engineering Automation for 2000 and the CIO Premier 100 Award as one of the top 100 CIOs In The US for 2000.
He is a certified Professional Engineer in the states of Kansas and Michigan. He is a graduate of the Georgia Institute of Technology, BME, 1971.
SSTY Clarifies Ex-Dividend Date for Shares of SSTY to Qualify for Distribution of ONTV, Inc. Shares
2006-04-25 14:02 ET - News Release
Also News Release (U-ONTV) INTV INC
Also News Release (U-PSRE) POWERSOURCE CP
BEIJING and PHILADELPHIA, April 25 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation previously announced that it has acquired the controlling interest in ONTV, Inc., which is being renamed True Product ID, Inc. (TPID) , and that it would be issuing a dividend of those shares to its shareholders.
On April 20, 2006 and on other prior occasions, it stated the Company's expectation was that the NASD would declare an ex-dividend date of April 25, 2006, as requested by the Company for the ONTV shares. Today the Company's attorneys have confirmed that they now expect, as per the applicable regulatory standards, the NASD to set an ex-dividend date of May 8, 2006.
Prior to that date, the Company attorneys will deliver a letter of instructions to the transfer agent to be delivered to shareholders which will also include instructions to the shareholders from the transfer agent regarding the implementation procedures. Copies of these instructions, forms and other pertinent details will be released (and be available for downloading) prior to the distribution date on the Company's website.
Wie bereits früher bekannt gegeben, hat Sure Trace die US-Firma ONTV
Inc., welche unbenannt wird in True Product ID, Inc. (TPID),
übernommen. Es wurde auch bekannt gegeben, dass Sure Trace Aktionäre
eine Dividende an TPID erhalten.
Es wurde erwartet, dass die NASD das Dividendendatum für den 25. April
festlegt. Die Unternehmensanwälte erwarten nun das Dividendendatum für
8. Mai. Zuvor jedoch erhalten der transfer agent und die Aktionäre
weitere Informationen über die genauere Abwicklung.