IDS Worldwide, Inc. (PINKSHEETS: IDWD) reported today that IDS, HLS and IDS joint venture partner System Technology Systems, Inc. (STS) yesterday in Orlando, Florida conducted a joint symposium presenting HLS Biometric 384-Bit Encryption USB Flash Drive to the investment banking, government and business community. Also participating in the symposium was Nick Lane from AuthenTec, Inc. which supplies HLS with its market leading AES2510 Wireless Biometric Chip.
HLS also had extended personal invitations to potential dealers for the HLS biometric flash drive that are already leaders in the computer, telecommunications and system integration industry. Dick Weitzel, President of STS, gave a presentation to the attendees outlining STS current and future plans with various government agencies regarding the deployment of HLS Biometric Flash Drive. Mr. Weitzel stated, "I expect the HLS Biometric Flash Drive will be added to the GSA list within the next 30 days." Mr. Weitzel further detailed the numerous government agencies that he had already conducted meetings with that are awaiting the GSA listing for the product. This will enable deployment in the United States and overseas government facilities.
IDS yesterday established a funding facility for joint venture partner STS to fast track meetings with additional government agencies that have requested immediate meetings with STS regarding deployment of HLS Biometric Technology. HLS informed IDS this morning that the UAE military has tested and approved for deployment the HLS Biometric USB. HLS also informed IDS that a leading computer security expert, Basit Alvi,has tested and evaluated the device and gave an overwhelming review of the technology and the market potential. HLS advised IDS that it will provide this written review at the beginning of the coming week.
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IDS and HLS were very pleased that 90% of the attendees that were invited to the symposium to become dealers took advantage of the offer and immediate bought inventory which HLS had supplied for the meeting. IDS CEO Patrick Downs stated, "Both IDS and HLS were very pleased that this symposium, which in over 3 hours of in-depth discussions, live demonstrations and question and answer sessions, met with unbelievable enthusiasm from all attendees."
The response was so enthusiastic that Dealers requested HLS raise the retail price of the product from $149.00 to $179.00 per unit as they had already researched the market in advance of the meeting and were satisfied this price point would still capture a majority market share. IDS CEO Downs further stated, "It is an excellent validation of the technology and quality of the product when new dealers request the company to raise the price of the product before nationwide distribution." IDS and HLS will conduct nationwide symposiums such as the one conducted in Orlando yesterday on an ongoing basis to increase both product awareness and the dealer network. HLS also informed IDS that it has begun preparations for a 30 minute infomercial to be broadcast nationwide to increase the product awareness for the HLS Biometric Encryption USB.
Today IDS and HLS will hold joint talks with Bioscrypt, Inc. Bioscrypt has approached IDS about the possibility of distributing the HLS Biometric USB throughout their 95 country distribution channel. Bioscrypt is an industry leader in the development of biometric technology and like HLS also uses AuthenTec biometric chips.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
Contact: For further information: IDS Worldwide, Inc. info@ids-worldwide.com
SOURCE: IDS Worldwide, Inc.