Applied Digital Solutions (NASDAQ:ADSX)
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Following strong demand for its Bio-Thermo(TM) chip in California
and a successful regional marketing program, Digital Angel Corporation
(Amex: DOC) today announced an aggressive national initiative to
target the more than $100 million equine market for identification
products with its patented, temperature-sensing implantable microchip.
The product, Bio-Thermo(TM), will provide approximately 8 million
horses in the United States with a unique identification and health
status surveillance required by local and state equine animal health
professionals. Digital Angel, which specializes in the field of rapid
and accurate identification, location tracking, and condition
monitoring of high-value assets, is in discussions with several large
distributors.
"This is a major development for Digital Angel. The early results
of our current program in Southern California have been overwhelmingly
positive. Since late last year the California Horseracing Board, a
division of the California Department of Agriculture, has been using
federal funds to implant all new, in-coming young horses entering
their racing career, with the Digital Angel Bio-Thermo chips," said
President and CEO Kevin N. McGrath. "To date, the California
Horseracing Board has purchased 1,500 Bio-Thermo chips, out of an
order of 4,000, and an estimated 500 horses at Southern California
racetracks have already been successfully implanted."
According to the company, The New York State Horse Health
Assurance Program recently implemented a comprehensive health campaign
that utilizes Bio-Thermo chips, and other state agencies are expected
to launch similar programs.
The bio-thermo microchip is about the size of a grain of rice. It
is easily, and harmlessly, injected into the crest of a horse's neck.
The chip monitors the horse's temperature, which is a good indicator
of the animal's health. The chip also contains a unique identification
number that, when activated by a scanner, can be connected to a
database with the horse's documentation.
Digital Angel has made significant progress in its electronic tags
for livestock segment, a critical growth area for the company. It
expects to post record-breaking numbers by the end of September,
anticipating sales of 1.9 million electronic RFID livestock in the
first nine months of 2006, rapidly exceeding full-year 2005 sales.
Additionally, the U.S. Department of Agriculture named Digital Angel
the first animal tag manufacturer in the government-sponsored National
Animal Identification System program, underscoring the company's
leadership position in the market.
"In bringing this new heat-sensing technology to the robust equine
market, we are building from our leadership position in implantable
tracking devices for livestock, pets and fish," said McGrath. "We are
confident that nearly every horse in the United States can benefit
from our Bio-thermo microchips, which will provide proper
documentation, monitoring for infectious diseases, and preventing
theft."
The announcement of the national equine chipping program
reinforces the company's commitment to expand revenues and drive
shareholder and market value. Digital Angel is already marketing the
Bio-Thermo chip in the companion pet markets in the United Kingdom and
Japan.
About Digital Angel Corporation
Digital Angel Corporation (www.DigitalAngelCorp.com) 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 humans, pets, fish, poultry and
livestock 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).
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 Applied Digital Inc. owns 55.4% of the Company's
common stock, that new accounting pronouncements regarding expensing
of share based compensation may impact the Company's future results of
operations, the Company may continue to incur net losses, infringement
by third parties on the Company's intellectual property or development
of substantially equivalent proprietary technology by the Company's
competitors could negatively impact the Company's business, domestic
and foreign government regulation and other factors could impair the
Company's ability to develop and sell its products in certain markets,
the Company relies on sales to government contractors for its animal
identification and search and rescue beacon products, and any decline
in the demand by these customers for such products could negatively
affect the Company's business, the Company depends on a single
production arrangement for its patented syringe-injectable microchips,
and the loss of or any significant reduction in the production could
have an adverse effect on the Company's business, technological change
could cause the Company's products to become obsolete, the loss of one
of the Company's principal customers could negatively impact the
Company's net revenue, the Company's earnings will decline if the
Company writes off goodwill and other intangible assets, options and
warrants outstanding and available for issuance may adversely affect
the market price of the Company's common stock, currency exchange rate
fluctuations could have an adverse effect on the Company's sales and
financial results, the Company depends on a small team of senior
management. 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, 2005. 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.
Following strong demand for its Bio-Thermo(TM) chip in California and a
successful regional marketing program, Digital Angel Corporation (Amex:
DOC) today announced an aggressive national initiative to target the
more than $100 million equine market for identification products with
its patented, temperature-sensing implantable microchip.
The product, Bio-Thermo(TM), will provide approximately 8 million horses
in the United States with a unique identification and health status
surveillance required by local and state equine animal health
professionals. Digital Angel, which specializes in the field of rapid
and accurate identification, location tracking, and condition monitoring
of high-value assets, is in discussions with several large distributors.
"This is a major development for Digital Angel. The early results of our
current program in Southern California have been overwhelmingly
positive. Since late last year the California Horseracing Board, a
division of the California Department of Agriculture, has been using
federal funds to implant all new, in-coming young horses entering their
racing career, with the Digital Angel Bio-Thermo chips," said President
and CEO Kevin N. McGrath. "To date, the California Horseracing Board has
purchased 1,500 Bio-Thermo chips, out of an order of 4,000, and an
estimated 500 horses at Southern California racetracks have already been
successfully implanted."
According to the company, The New York State Horse Health Assurance
Program recently implemented a comprehensive health campaign that
utilizes Bio-Thermo chips, and other state agencies are expected to
launch similar programs.
The bio-thermo microchip is about the size of a grain of rice. It is
easily, and harmlessly, injected into the crest of a horse's neck. The
chip monitors the horse's temperature, which is a good indicator of the
animal's health. The chip also contains a unique identification number
that, when activated by a scanner, can be connected to a database with
the horse's documentation.
Digital Angel has made significant progress in its electronic tags for
livestock segment, a critical growth area for the company. It expects to
post record-breaking numbers by the end of September, anticipating sales
of 1.9 million electronic RFID livestock in the first nine months of
2006, rapidly exceeding full-year 2005 sales. Additionally, the U.S.
Department of Agriculture named Digital Angel the first animal tag
manufacturer in the government-sponsored National Animal Identification
System program, underscoring the company's leadership position in the
market.
"In bringing this new heat-sensing technology to the robust equine
market, we are building from our leadership position in implantable
tracking devices for livestock, pets and fish," said McGrath. "We are
confident that nearly every horse in the United States can benefit from
our Bio-thermo microchips, which will provide proper documentation,
monitoring for infectious diseases, and preventing theft."
The announcement of the national equine chipping program reinforces the
company's commitment to expand revenues and drive shareholder and market
value. Digital Angel is already marketing the Bio-Thermo chip in the
companion pet markets in the United Kingdom and Japan.
About Digital Angel Corporation
Digital Angel Corporation (www.DigitalAngelCorp.com)
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 humans, pets, fish, poultry and
livestock 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).
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 Applied
Digital Inc. owns 55.4% of the Company's common stock, that new
accounting pronouncements regarding expensing of share based
compensation may impact the Company's future results of operations, the
Company may continue to incur net losses, infringement by third parties
on the Company's intellectual property or development of substantially
equivalent proprietary technology by the Company's competitors could
negatively impact the Company's business, domestic and foreign
government regulation and other factors could impair the Company's
ability to develop and sell its products in certain markets, the Company
relies on sales to government contractors for its animal identification
and search and rescue beacon products, and any decline in the demand by
these customers for such products could negatively affect the Company's
business, the Company depends on a single production arrangement for its
patented syringe-injectable microchips, and the loss of or any
significant reduction in the production could have an adverse effect on
the Company's business, technological change could cause the Company's
products to become obsolete, the loss of one of the Company's principal
customers could negatively impact the Company's net revenue, the
Company's earnings will decline if the Company writes off goodwill and
other intangible assets, options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock, currency exchange rate fluctuations could have an adverse
effect on the Company's sales and financial results, the Company depends
on a small team of senior management. 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, 2005. 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.