Digital Angel Corporation Demonstrates Technology at House Agriculture Committee Exposition
July 22 2004 - 7:30AM
PR Newswire (US)
Digital Angel Corporation Demonstrates Technology at House
Agriculture Committee Exposition SO. ST. PAUL, Minn., July 22
/PRNewswire-FirstCall/ -- Digital Angel Corporation (AMEX:DOC), an
advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets, participated in a technology exposition for the
House Agriculture Committee on Capitol Hill today. President &
CEO Kevin McGrath commented, "We found the technology exposition to
be exciting and informative. In particular, Digital Angel
demonstrated a variety of technologies in the field of tracking and
identification, most notably, RFID tags and chips, scanners, and
state-of-the-art herd management software. Moreover, I must say we
found ourselves in good company, because the range of technologies
together forms an ideal pool for a national livestock ID program
such as the one that Secretary of Agriculture Ann Veneman has
endorsed. Our technology can be rolled out quickly in quantities to
cover the entire national livestock population as soon as we are
called upon to do so." Commenting about the House Agriculture
Technology Exposition, Congressman Gil Gutknecht, Republican from
Minnesota said, "I was pleased that the House Agriculture Committee
held the Livestock Technology Expo today. Agriculture is truly
becoming a high tech industry. Technology providers, such as
Digital Angel, will play a critical role in the future of
agriculture by bringing added value to the U.S. livestock
industry." Also commenting on the House Agriculture Technology
Exposition, Congressman Betty McCollum, Democrat from Minnesota,
said, "I am proud of South St. Paul company Digital Angel and am
glad they participated in today's House exposition. Minnesota
families can also be proud that Minnesota companies are helping to
protect the safety of our food supply. As Digital Angel
demonstrated at today's presentation, the company's technology will
help ensure that our country has the best livestock identification
and tracking system in the world." McGrath also said, "Our
microchip technology is an inexpensive and efficient basis for
animal tracking, whether it is for the purpose of tracing the
source of a future outbreak of Mad Cow Disease, for other health
reasons, or for efficient herd management. We have implemented
programs dealing with cattle, swine, fisheries -- and all of them
have proven effective. We certainly join with those on Capitol Hill
who urge the Department of Agriculture to move with all deliberate
speed to implement a national animal ID program to protect the
health of the nation's herds and the safety of the national food
supply." 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 pets,
fish 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 Solutions, Inc. (NASDAQ:ADSX). For more information
about Digital Angel, please visit http://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 recent changes in the Company's
senior management could have an adverse effect on the Company's
financial results that the Company's stockholders will experience
dilution if certain debt owned by the Company is converted into
common stock; the risk of foreclosure on substantially all of the
Company's assets; that the Company's majority stockholder, Applied
Digital Solutions, Inc. is able to completely control the board of
directors and may support actions that conflict with the interests
of other stockholders; that the Company's earnings will decline if
it writes off additional goodwill and other intangible assets; that
exercises of the Company's options and warrants outstanding and
available for issuance may adversely affect the market price of the
Company's common stock, the Company's inability to generate income,
the Company's ability to maintain patent and trade secret
protection, domestic and foreign government regulation, the
Company's sales to government contractors of animal identification
products, dependence on a single production arrangement for its
patented syringe-injectable microchips, dependence on principal
customers, competition in the visual and electronic identification
markets, foreign currency rate fluctuation, dependence on a small
team of senior management and the Company's ability to develop,
integrate, miniaturize and market the Digital Angel(TM) technology.
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, 2003. 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. For further information, please contact:
Investors, Mike Lucarelli, +1-212-691-8087, , or Media, Len Hall,
+1-949-474-4300, , both of Allen & Caron Inc., for Digital
Angel Corporation. DATASOURCE: Digital Angel Corporation CONTACT:
Investors, Mike Lucarelli, +1-212-691-8087, , or Media, Len Hall,
+1-949-474-4300, , both of Allen & Caron Inc., for Digital
Angel Corporation Web site: http://www.digitalangelcorp.com/
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