Sure Trace Security Corporation Announces Approval of Globe Staff Consulting Acquisition By French Government
October 27 2005 - 11:19AM
PR Newswire (US)
All Required Documentation Completed and Approved; Globe Staff
Officially Wholly Owned Subsidiary of Sure Trace BEIJING,
PHILADELPHIA, and BAYONNE, France, Oct. 27 /PRNewswire-FirstCall/
-- Sure Trace Security Corporation (OTC:SSTY) announced that the
mandatory French administration regulations for the purchase of
Globe Staff Consulting (GSC) have now been completed and approved
by all French Government Ministries. A full internal audit and
examination of GSC technologies took place, conducted by Sure
Trace's CFO Mr. Joseph Repko and staff last week in France. Newly
appointed CEO for GSC, Mr. Cameron Moriarty, stated, "The
completion of all documentation for French Authorities now allows
us to focus on delivery of our GEOLOCATION tracking technologies.
GSC is well-established in France as a leader in security
technologies and now we can begin to introduce these products and
services to the rest of the world." The management of Sure Trace
believes that, with the purchase of GSC completed, it now has one
of the most effective mixes of tracking and tagging security
services available in the world. Mr. Moriarty will step down as COO
and member of the Board of Directors of the parent company, Sure
Trace, and will assume the position of Gerant/CEO of GSC. Mr. Jean
Gilles Subervie, former CEO of GSC, will relinquish that position
and assume the position of CTO, a role he also maintains with the
parent company. About Sure Trace Security Corporation Sure Trace
produces integrators for anti-counterfeiting and security
surveillance applications and is a provider of integrated tracking
devices. The Company intends to deliver turnkey solutions 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:
http://www.suretrace.com/. The common stock of Sure Trace was
recently suspended from trading by the Securities and Exchange
Commission, but the suspension has ended by its own terms.
Management of Sure Trace is currently working with the
broker-dealer community and regulators to permit quotations to be
entered on the Pink Sheets as soon as possible. More information
will be provided to the public when circumstances warrant. SAFE
HARBOR STATEMENT: This news release contains "forward-looking
statements" that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." You are
cautioned that such statements are subject to a multitude of risks
and uncertainties that could cause future circumstances, events, or
results to differ materially from those projected in the
forward-looking statements, including the risks that our products
may not achieve customer acceptance or perform as intended, that we
may be unable to obtain necessary financing to continue operations
and development, and other risks. You should consider these factors
in evaluating the forward-looking statements included herein, and
not place undue reliance on such statements. The forward-looking
statements are made as of the date hereof and Sure Trace undertakes
no obligation to update such statements. Contact: Sure Trace
Security Corporation by De Jong & Associates Ron de Jong,
760-943-9065 email: DATASOURCE: Sure Trace Security Corporation
CONTACT: Ron de Jong, De Jong & Associates, +1-760-943-9065,
email: , for Sure Trace Security Corporation Web site:
http://www.suretrace.com/
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