Applied Digital Solutions (NASDAQ:ADSX)
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Digital Angel Set to Join the New Russell Microcap Index
SO. ST. PAUL, Minn., June 14 /PRNewswire-FirstCall/ -- Digital Angel
(AMEX:DOC), an advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of high-value
assets, announced today that it is scheduled to join the Russell Microcap Index
when Russell Investment Group reconstitutes its family of 23 U.S. indexes on
June 24. Russell recently posted a list of preliminary additions to its
indexes at http://www.russell.com/US/indexes.
The Russell Microcap Index, which will be comprised of the smallest 1,000
securities in the small-cap Russell 2000(R) Index plus the next 1,000
companies, will be based on a ranking of all U.S. equities by market
capitalization. This new index offers managers and other investors a
comprehensive, unbiased barometer to compare their performance against the
genuine microcap marketplace of stocks
"We are very pleased to be included in the Russell Microcap Index. Inclusion in
this index reflects the progress we've made in the last year to grow
shareholder value and will help raise our profile among institutional and
retail investors. At the beginning of 2004, Digital Angel successfully
refocused on growth in our core businesses while controlling expenses and we
will continue our efforts to rapidly increase shareholder value," said Kevin
McGrath, CEO of Digital Angel.
The Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. More than $2.5 trillion in assets currently are
benchmarked to them. Investment managers who oversee these funds purchase
shares of member stocks according to that company's weighting in the particular
index.
Companies slated for the Russell Microcap were ranked as of May 31, 2005 by
total market capitalization and weighted based on free-float adjustment, an
integral aspect of Russell index methodology. Free-float adjustment means
stocks are weighted by their available market capitalization which is
calculated by multiplying the primary closing price by the available shares.
About Digital Angel Corporation
Digital Angel Corporation develops and deploys sensor and communications
technologies that enable rapid and accurate identification, location tracking,
and condition monitoring of high-value assets. Applications for the Company's
products include identification and monitoring of pets, fish, livestock, and
humans through its patented implantable microchips; location tracking and
message monitoring of vehicles and aircraft in remote locations through systems
that integrate GPS and geosynchronous satellite communications; and monitoring
of asset conditions such as temperature and movement, through advanced
miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital, Inc.
(NASDAQ:ADSX). For more information about Digital Angel, please visit
http://www.digitalangelcorp.com/
About Russell
Russell, a global leader in multi-manager investment services, provides
investment products and services in more than 39 countries. Russell manages
more than $135 billion in assets and advises clients worldwide representing
$2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual
and is headquartered in Tacoma, Wash., with additional offices in New York,
Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more
information, go to http://www.russell.com/.
The statements in this press release that are not strictly historical, are
"forward-looking" statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
and are intended to be covered by the safe harbors created by these sections.
The forward-looking statements are subject to risks and uncertainties and the
actual results that the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties, including, but
not limited to, that the Company's majority stockholder, Applied Digital
Solutions, Inc. owns 55.2% of the Company's common stock; that new accounting
pronouncements may impact the Company's future results of operation; that the
Company may continue to incur losses, that infringements by third parties on
the Company's intellectual property or development of substantially equivalent
proprietary technology by the Company's competitors could negatively affect the
Company's business; that domestic and foreign government regulation and other
factors could impair the Company's ability to develop and sell the Company's
products in certain markets; that the Company relies on sales to government
contractors of its animal identification products, and any decline in the
demand by these customers for the Company's products could negatively affect
the Company's business; that the Company depends on a single production
arrangement for its patented syringe-injectable microchips; that the Company
depends on principal customers; that the Company competes with other companies
and the products sold by the Company's competitors could become more popular
than the Company's products or render the Company's products as obsolete; that
the Company's earnings will decline if the Company must write-off goodwill and
other intangible assets; that the exercise of options and warrants outstanding
and available for issuance may adversely affect the market price of the
Company's common stock ;that currency exchange rate fluctuations could have an
adverse effect on the Company's sales and financial results; and that the
Company depends on a small team of senior management and the Company may have
difficulty attracting and retaining additional personnel. A detailed statement
of risks and uncertainties is contained in the Company's reports to the
Securities and Exchange Commission, including in particular the Company's Form
10-K for the fiscal year ended December 31, 2004. Investors and stockholders
are urged to read this document carefully. The Company can offer no assurances
that any projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of investing
solely due to such projections. The Company undertakes no obligation to revise
any forward-looking statements in order to reflect events or circumstances that
may arise after the date of this press release.
Contact: Allen & Caron Inc.
Mike Lucarelli (investors) Len Hall (media)
(212)-691-8087 (949)-474-4300
DATASOURCE: Digital Angel Corporation
CONTACT: investors, Mike Lucarelli, +1-212-691-8087,
, or media, Len Hall, +1-949-474-4300,
, both of Allen & Caron Inc., for Digital Angel Corporation
Web site: http://www.russell.com/
Web site: http://www.russell.com/US/indexes
Web site: http://www.digitalangelcorp.com/