Sure Trace Announces Plan to Spin Out Its Subsidiary Globe Staff Consulting to Sure Trace Shareholders
July 13 2006 - 1:44PM
PR Newswire (US)
BAYONNE, France and PHILADELPHIA, July 13 /PRNewswire-FirstCall/ --
Sure Trace Security Corporation (OTC:SSTY) today announced that its
Board of Directors has voted to spin out its majority owned
subsidiary, Globe Staff Consulting Corporation (Pink Sheets: GSFC),
a homeland R&D security company focused on serving the
transportation and homeland security industries. SSTY had
previously announced that it was considering plans to effectuate a
spin out through a dividend to its shareholders. SSTY owns a
majority of the shares of GSFC. SSTY's Board of Directors has
approved the spin out of GSFC through the dividend of 100% of the
SSTY owned shares of GSFC to all stockholders of SSTY on a pro rata
basis. The dividend will be payable on a record date to be
determined by the SSTY Board of Directors. The conversion ratio of
SSTY shares to GSFC shares has not yet been determined by the Board
of Directors. Further details will be released regarding the dates
and percentages along with other pertinent information. Fractional
shares of GSFC common stock will not be issued. The shares issued
to SSTY shareholders shall be restricted. SSTY shareholders will
retain their present shares in SSTY. The Company intends that the
dividend will be structured to qualify as a tax-free stock dividend
to SSTY stockholders for U.S. federal income tax purposes. Shortly
after the dividend record date, SSTY will mail an information
statement to its stockholders of record as of the close of business
on the record date. The information statement will include
information regarding the dividend and the business and management
of GSFC following the distribution. In addition, SSTY and GSFC
intend to file important information related to the spin out,
including this release, with the Securities and Exchange Commission
on Form 8-K. About Globe Staff Consulting Corporation Globe Staff
Consulting Corporation is a subsidiary of Sure Trace Security
Corporation. GSFC is one of France's leaders in the field of
wireless security communications. GSFC has partnerships with
Orange, French Telecom and Thales. The Company was formed for the
purpose of selling and distributing wireless security
communications services and is focusing on tracking, tracing and
geolocalization of products and people. The company has developed a
mix of security tracking services targeting businesses, governments
and consumers. Our technology assists our customers to be informed
in real time of the exact location of products or people with 2-way
communication, and can be customized to meet additional client
requirements. GSFC's innovative product and service offerings
provide the best advantages to customers, including the smallest
tracking modules with GSM and GPS dual capability, innovative
specialty cellular phone models, and data capability, all hosted on
an ASP server platform. Overview of Technology eGeocardio
eGeocardio allows scientists to track the heart rate of people or
animals. The integrated cardiometry is displayed with graphics and
alerts on computers. eGeocardio first appeared at the 2004 Tour de
France to monitor the cyclists. It was utilized by teams, trainers
and television broadcasters to monitor the cyclists' performances.
Our next version of eGeocardio, which has been advanced to the
prototype stage, will include a GSM/GPRS/GPS module which will
allow managers and fans to follow the progress of people or animals
in real time including location, speed, and altitude. Over the
coming weeks and months, Globe Staff will detail additional
applications and developments of its groundbreaking technology in
cardio-monitoring as well as in elder care, child safety, and law
enforcement. SIM TRACE V4X ACCEL This device is able to detect and
analyze 3-D movements with our new 3-axes(X, Y, Z)-integrated
accelerometer. Through the device, we can detect, for example, the
existence of a person's bodily movement and breathing rate. Limited
or no movement or breathing can automatically cause the device to
send appropriate data to the control center equipped with devices
such as a laptop computer, server, cell phone or PDA. The type of
data to be collected and transmitted may include the following:
acceleration, shock intensity, map localization,
GPS/GSM/goniometric, temperature, heart rate, etc. The next version
will integrate a miniaturized camera. Tag and Track The "Tag and
Track" system will provide a flexible, rapidly deployable
assisted-GPS/GSM location-based service including an innovative
integrated RFID technology that enables a wide array of
customizable applications. The technology locates and/or tracks
vehicles, objects, assets or people. Our customers will deploy a
portable receiver or reader devices network, whether inside or
outside a building, which will be used to pick up the signal
transmitted by our "Tag and Track" Tracker with its integrated RFID
Tag. The device is about the size of a cell phone. This system was
originally conceived/developed on a Special Police Forces request
from the French Ministry of the Interior. RFID chips don't have
their own energy source; they are passive. They emit a signal when
specific frequencies of radio energy are used to "paint" them.
RFIDs contain tiny antennas that receive the RF energy and then
re-radiate their encoded information. The Company's RFID chip will
be a miniaturized, implantable radio frequency identification
device that has the potential to be used in a variety of security,
financial, and other applications. It is smaller than a grain of
rice; the encoded information is captured by briefly passing a
proprietary scanner or passing through any receivers. About Sure
Trace Security Corporation Sure Trace produces integrators for
anti-counterfeiting and security surveillance applications and is a
provider of integrated tracking devices. True Product ID Inc.
(OTC:TPDI) (BULLETIN BOARD: TPDI) , a former subsidiary of SSTY,
via a license from Sure Trace Security Corporation (OTC:SSTY),
delivers turnkey solutions for governments, armed forces, and
industry, through 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/ and to http://www.gsc.fr/corp/. 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. In August 2005, the common
stock of Sure Trace was suspended from trading by the Securities
and Exchange Commission, but the suspension ended in accordance
with the securities laws after ten days. Management of Sure Trace
is currently working with the broker-dealer community and
regulators to permit quotations to be entered as soon as possible.
More information will be provided to the public when circumstances
warrant. DATASOURCE: Sure Trace Security Corporation CONTACT:
Michael Cimino, President, Sure Trace Security Corporation,
+1-215-972-6999, Web site: http://www.suretrace.com/
http://www.gsc.fr/corp
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