Sure Trace Security (CE) (USOTC:SSTY)
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From Jan 2020 to Jan 2025
Sure Trace Security Corporation (OTC:SSTY) is pleased to
announce that it has completed the acquisition of Globe Staff
Consulting (GSC).
Unlike the prior acquisition agreement, the main consideration for
the purchase was the issuance of restricted stock. The restructured
agreement reduced the cash requirements contained in the earlier
purchase document, which will free up resources for the Company's
China initiative and other endeavors.
Michael Cimino, the Company's President said, "Our Chairman, Jim
Mackay, was instrumental in this renegotiation of the acquisition
price. Not only did the Company drastically reduce the purchase price,
the Company was able to deliver another technology to the Chinese
market that it has been clamoring for and to further enhance our
overall perceived usefulness to the Joint Venture. We recognized a
market need and found the way to deliver what they wanted."
Recently, GSC has conducted successful demonstrations of its Globe
Track technology with two major international security
companies, within the past few weeks and both companies have expressed
a strong interest regarding GSC's products and services. Additionally,
the French Government has referred a major industry representative to
SSTY, via its GSC connections regarding a bold anti-counterfeiting
measure aimed at the worldwide retail goods market.
Additionally, our Chinese joint venture, Sure Trace Technology
(Beijing) Limited, has also met with the 2008 Chinese Olympic
Committee. Our partner Suneray had presented our anti-counterfeit
technology to the Committee for use in tickets, merchandise and
credentials as well as GSC's Geo Track technology for use involving
the participants in the games.
Also, our Chinese counterpart, Suneray has indicated to our
management that several companies will be positioned to begin
exploiting the Joint Venture's solutions involving tobacco, documents,
to produce and other retail items.
About Sure Trace Security Corporation
Sure Trace is one of the premier systems integrators for
anti-counterfeiting and security surveillance applications and a
world-class provider of integrated tracking devices. The company
intends to deliver turnkey solutions, both onshore and offshore, 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: www.suretrace.com.
Safe Harbor: This press release contains forward-looking
information within the meaning of section 27A of the Securities Act of
1933 and section 21E of the Securities Exchange Act of 1934 and is
subject to the Safe Harbor created by those sections. This material
contains statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements, by definition, involve
risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of Sure Trace to be materially
different from the statements made herein.