Applied Digital Solutions (NASDAQ:ADSX)
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Digital Angel Corporation (AMEX: DOC) announced today that the SARBE
Division of its London-based subsidiary, Signature Industries, has
signed a new contract to develop and supply a new crew escape system for
submarines for the Royal Netherlands Navy. The initial development
contract to SARBE is for $150,000 and SARBE expects additional orders
for equipment purchases.
“SARBE will develop and supply an
automatically activated and deployed emergency radio which will alert
rescue authorities and pinpoint a stricken submarine submerged or on the
surface,” said David Cairnie, CEO of Signature
Industries. “This is a prestigious contract
and we’re honored SARBE has been selected to
create this new product.”
SARBE, a world leader in search and rescue radios, RFD Beaufort, the
leader in Submarine Escape Equipment and Weir Strachan and Henshaw, a
design authority for submarine launch systems, have partnered in a joint
venture to develop the equipment. The venture, Integrated Submarine
Escape Capability (ISEC), will collaborate to effectively meet personnel
escape requirements from submerged vessels or during surface abandonment
situations.
The Royal Netherlands Navy has selected the ISEC System, which triggers
the launch of a 35-man life raft either on the surface or at deep-sea
levels. Once inflated, the new SARBE beacon is automatically activated
and sends emergency Cospas-Sarsat 406 MHz transmissions for up to 10
days.
The Walrus class vessels will be the first submarines to be fitted with
the equipment. SARBE is also pursuing opportunities to supply beacons to
Scorpene submarines that have been ordered by the Navies of Malaysia,
India and Chile.
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 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). For more information about Digital Angel, please visit www.DigitalAngelCorp.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 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.