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APDN Applied DNA Sciences Inc

0.42
0.0103 (2.51%)
Last Updated: 16:15:55
Delayed by 15 minutes
Share Name Share Symbol Market Type
Applied DNA Sciences Inc NASDAQ:APDN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0103 2.51% 0.42 0.4131 0.42 0.425 0.4048 0.41 79,458 16:15:55

Applied DNA Sciences, Inc., Announces DNA Encryption Technology to Protect Famous Chinese Artworks from Forgery and Counterfeit

29/03/2006 3:45pm

PR Newswire (US)


Applied DNA Sciences (NASDAQ:APDN)
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STONY BROOK, N.Y., March 29 /PRNewswire-FirstCall/ -- Applied DNA Sciences, Inc. (OTC:APDN) (BULLETIN BOARD: APDN) , a DNA security solutions company, today announced a collaboration with its licensee, Biowell Technology, Inc., ("Biowell") and Wu Zuoren International Foundation of Fine Arts ("WIFFA") to protect the works of famous Chinese artists from forgery and counterfeiting. WIFFA, a non-profit organization based in Beijing, was founded by acclaimed Chinese artist Wu Zuoren and his wife, Xiao Shufang. Both artists are well-known for their skillful use of brush- and wash inks in a traditional hanging scroll format, and their work with a variety of media, including oils, watercolors, inks, and sketches. One of Wu's oil paintings, entitled "Battlefield Chrysanthemum All the More Fragrant", sold at an auction in Beijing in 2003 for a record price of 3.52 million Chinese yuan ($438,930.11 USD). Another of his oil paintings, entitled "Big Fire in Chongqing", sold for more than 1.7 million Hong Kong dollars ($219,089.56 USD) in 2002. After Wu's death in 1997, his wife decided to work with the Chinese Ministry of Public Security, Second Bureau, and Biowell to safeguard China's numerous, unique artworks from forgery and counterfeiting. Jun-Jei Sheu, Chairman of APDN, stated that: "Important national artworks can benefit from the highest level of protection from counterfeit. DNA encryption can be an effective anti-counterfeiting measure as it is virtually impossible to replicate and as a result, it can help to preserve the value and integrity of the artwork and verify its authenticity." The process of protecting the artwork involves taking a DNA sample from Ms. Xiao Shufang using a custom-designed DNA sample collection kit. This DNA sample is used to make a unique DNA anti-counterfeit ink pad with DNA-encrypted ink. Each piece of artwork is then issued a "DNA Artwork's Certificate", printed using the DNA anti-counterfeit ink pad, which records the name of the artwork, time of production, serial number, photographs and information on the art collection. These certificates are authenticated by an independent, nationally recognized authority for quality assurance. Dr. James A. Hayward, CEO of APDN, stated: "A certificate of authenticity that is based on our proprietary DNA encryption technology is completely unique. We believe artwork that is protected by the DNA of the artist gives a much higher level of confidence that it is truly authentic. The technology helps buyers to authenticate art, and sellers to prove provenance. We hope our new technology will begin a new era of art assurance." About Applied DNA Sciences, Inc. Applied DNA Sciences, Inc. (APDN) develops proprietary DNA-embedded security solutions that use plant DNA to verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion into physical plant and databases. Our common stock is listed on the Over-The-Counter Bulletin Board under the symbol "APDN". Contact: MeiLin Wan, Applied DNA Sciences, Inc., 25 Health Sciences Drive, Stony Brook, New York 11790; Tel: 631-444-6861; Fax: 631-444.8848 http://www.adnas.com/ . The statements made by Applied DNA Sciences, Inc. in this press release may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements describe the Company's future plans, projections, strategies and expectations, and may be identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These forward-looking statements are based on assumptions and involve a number of risks, uncertainties, situations and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these statements. These factors include changes in interest rates, market competition, changes in the local and national economies, and various other factors detailed from time to time in Applied DNA Sciences' SEC reports and filings, including our Annual Report on Form 10-KSB, filed on January 12, 2006, and subsequent Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K. The Company 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. DATASOURCE: Applied DNA Sciences, Inc. CONTACT: MeiLin Wan, of Applied DNA Sciences, Inc., +1-631-444-6861; Fax: +1-631-444-8848 Web site: http://www.adnas.com/

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