Post by johnny721 on May 1, 2006 21:58:27 GMT -5
I don't know if anyone from this board has heard of this Stock SSTY This is a long post but a good read.
Alot of Good DD in this post.
I think if you get some of this stock at these low prices and hold You will be very wealthy within a year.
Note: I got his from another board Investors Hub.
By Johncee1
Suretrace Security – From the beginning in 2003 to a transition period in 2004 and the transformation of the company in 2005.
Suretrace Security bought the Canadian company Identex in 2003 with the idea that they would market their s-dna taggant to Canada and the United States. Their initial marketing strategy was to offer loss prevention and industrial security products. Then they altered their marketing strategy to channel partner distribution strategy as opposed to direct sales. To this end, Identex has completed national distribution agreements with the Commissionaires (of Canada) and with ToolWatch Corporation of Denver, CO. Shortly after that the company changed its marketing strategy to go after the anti-counterfeting brand authentification and security market throughout Europe, Asia, Africa and the Middle East. The gross margins in loss prevention were about 68% while margins in authentification are much higher. . The Washington Anti Counterfeiting Coalition has determined that the cost of fraudulent replication of assets amounts annually too more than 1 trillion dollars (USD) worldwide.
The company stated that there are five other companies sell "coded" fluids. However, none of these companies possess portable scanning technology and as such require their clients to use a test called "laser ablation" to prove ownership. The most active of these companies, ISOTAG of Texas, uses a color shifting UV (black) light technology. While accurate, the UV technology is expensive and stationary. In addition, as their coded fluid is organic in nature it sits on top of the surface and fades over time under natural light. Identex has a significant advantage over this technology, as its product is inorganic, bonds with the asset on a molecular basis, will never fade, and is readable with a relatively, inexpensive portable scanner. As such Identex considers itself as a new market category.
To manage this diverse market opportunity Suretrace has broken Authentication into the following subgroups: Government Services, Industrial Authentication and Brand Authentication.
Government
Since September 11th, governments around the world have established significant budgets to augment their security efforts. Identex's products can be used in passports, immigration documents, currency, personnel identification badges, contracts, airspace security, etc.
Industrial Authentication
Industrial authentication provides industries such as automotive with the ability to determine legitimate parts as opposed to "knock-off" parts. False warranty claims and legal liability suites are a major concern for corporations. Industries such as aerospace and high-pressure valve producers are required to test component parts on a routine basis. Art collections, lottery tickets, casino checks and playing cards, gem certificates, the gems themselves all require positive verification.
Brand Authentication
Most, if not all, major brand names from soda pop to clothing, to sporting goods face significant problems due to the fraudulent replication or outright theft of their products.
The largest hurdle to effectively capture this market opportunity(s) has been the lack of quick and positive authenticate in the field. Telling a border guard who suspects a shipment of goods to be fraudulent that authenticating the shipment might take days if not weeks is simply not feasible. The combination of Identex's taggant and Niton's scanner meets the immediacy needed is the perfect if not ultimate solution.
Niton's scanning technology has a built-in database that allows for specific information to be permanently tied to a particular formulation of taggant. This information could be date of issue, ownership, purchase order number, shipping detail, expected location, etc. This database can be updated "on the fly" by a field investigator. The built-in database can be connected to a larger central database via direct dial-up, cell phone, or satellite communications. This allows for two-way communications so that a field investigator can download new taggant signatures along with associated database information as well as uploading their findings in the field.
During 2003 Suretrace Security worked on developing the s-dna technology and the marketing of it. In May of 2004 the company fired their old accountant and hired a new accounting firm Grant Thornton LLP. AT the same time the company issued a code of ethics for senior financial officers and the principal executive officer of Suretrace Security Corporation.
This is the time period when I believe Mr. James Mackay realized he had a big problem on his hands. He had financial officers and executive officers of the company trying to destroy the company and steal the technology and clients.
On May 26th, 2005 the company hired a new President and CEO Michael Cimino. Mr. Cimino will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners.
From the period in 2003 when Suretrace acquired Identex and proceded to market the new technology to 2004 when Suretrace had to fire existing executives that were trying to destroy the company and then to 2005 when Michael Cimino came on board and signed a JV agreement with our Chinese subsidiary and proceed to go after the China market for anti-counterfeiting, brand authentification and security products.
So within a period of 3 years the company has transformed itself from a company that was looking for new technology to one that found it and has been successful in marketing this technology to the government and industry in China.
In 2005 as you will see in the 2005 press releases that relate to China contracts and cooperation agreements the company has successfully put together the foundation for future contracts in China.
In 2006 after setting the foundation the company acquired two shell companies that they plan on using to set up TPID US and TPID Europe. They have also put three individuals in place that can continue to develop the technology and market it worldwide. These three individuals are Richard A Bendis, Frederick J Young and John G Voeller.
Quote from John G Voeller:
"The problem of counterfeit goods of all kinds has always been with us and the impact of its growth is accelerating. The need for an accurate high-speed identification of goods as original in quality and source is equally critical. None of the traditional technologies of identification of goods is sufficient to perform these functions. True Product ID has taken a different tack to open the opportunity for true validation and verification," comments John Voeller.
Quote from Fredrick J Young:
"Having dedicated a career to China affairs, I have a profound admiration for the extraordinary mutual respect and friendship that Chairman James MacKay has worked so hard to cultivate with China. Counterfeit pharmaceuticals, automobile and airplane parts, and consumer products have injured or killed countless people around the world. No other company is better positioned to halt the spread of counterfeiting worldwide than TPID and to establish a Global Anti-Piracy Standard that will not only help save businesses and governments billions of dollars but will more importantly also help save lives."
Quote from Richard A Bendis:
"This is a great opportunity to develop True Product ID globally. The technology, the industry, the potential market product growth, and the entrepreneurial spirit of the company attracted me to this venture. I am especially pleased that True Products ID will become a Philadelphia-based company and there will be job growth and expansion in the future that will further strengthen Philadelphia's position in the global Knowledge Economy," stated Bendis.
The following is a brief history of the company since 2003. Its products and marketing strategy and press releases as they relate to the China market.
The beginning of Suretrace
On January 29, 2003, the Company acquired all of the issued and outstanding shares of Identification Technologies Inc., a private Alberta corporation ("Identex"), in exchange for 1 million shares of the Company's Series B Preferred Stock. Immediately following the acquisition of Identex, the Company changed its name to Sure Trace Security Corporation.
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion, extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
(Old) Marketing Strategy
Prior to its acquisition by Sure Trace, Identex sold Loss Prevention products throughout Canada on a direct sale basis. Identex's client list is impressive and includes such major corporations as Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Imperial Oil, Toronto Transit, and Atomic Energy of Canada to name a few.
Sure Trace has significantly altered Identex's distribution strategy by introducing a channel partner distribution strategy as opposed to direct sales. To this end, Identex has completed national distribution agreements with the Commissionaires (of Canada) and with ToolWatch Corporation of Denver, CO. Identex is currently negotiating with several additional firms for distribution agreements on an international scale.
This distribution model for Loss Prevention provides Identex with several significant advantages over direct sales. It has often been said that "people buy from people but they generally buy from people they like and trust". Using existing security firms or firms with a complimentary product or service provides Identex with a large existing sales force that has access to a large existing client base that knows and trusts this sales force. Moreover, as this sales force is a third party to Identex, selling costs and expenses are borne by the distribution channel partner until a sale is actually completed. The following examples will elucidate our strategy
(New marketing strategy)
Identex intends to replicate this distribution strategy throughout Europe, Asia, Africa and the Middle East.
While gross margins on Loss Prevention sales average sixty eight percent (68%), margins in Authentication are higher. Identex has elected to initially focus on Loss Prevention as this strategy facilitates a geographically broad distribution of portable scanners, which forms a central core to the ultimate success of Authentication. The benefits of the broad geographical distribution of scanners are described in greater detail below.
Authentication involves positive proof of origin, right to hold, or outright ownership of an asset. These assets can include documents, gems, component parts, and of course brand name finished goods. The Washington Anti Counterfeiting Coalition has determined that the cost of fraudulent replication of assets amounts annually too more than 1 trillion dollars (USD) worldwide.
Identex-A New Market Category
Globally five other companies sell "coded" fluids. However, none of these companies possess portable scanning technology and as such require their clients to use a test called "laser ablation" to prove ownership. The most active of these companies, ISOTAG of Texas, uses a color shifting UV (black) light technology. While accurate, the UV technology is expensive and stationary. In addition, as their coded fluid is organic in nature it sits on top of the surface and fades over time under natural light. Identex has a significant advantage over this technology, as its product is inorganic, bonds with the asset on a molecular basis, will never fade, and is readable with a relatively, inexpensive portable scanner. As such Identex considers itself as a new market category.
To manage this diverse market opportunity Identex has broken Authentication into the following subgroups: Government Services, Industrial Authentication and Brand Authentication.
Government
Since September 11th, governments around the world have established significant budgets to augment their security efforts. Identex's products can be used in passports, immigration documents, currency, personnel identification badges, contracts, airspace security, etc.
Industrial Authentication
Industrial authentication provides industries such as automotive with the ability to determine legitimate parts as opposed to "knock-off" parts. False warranty claims and legal liability suites are a major concern for corporations. Industries such as aerospace and high-pressure valve producers are required to test component parts on a routine basis. Art collections, lottery tickets, casino checks and playing cards, gem certificates, the gems themselves all require positive verification.
Brand Authentication
Most, if not all, major brand names from soda pop to clothing, to sporting goods face significant problems due to the fraudulent replication or outright theft of their products.
The largest hurdle to effectively capture this market opportunity(s) has been the lack of quick and positive authenticate in the field. Telling a border guard who suspects a shipment of goods to be fraudulent that authenticating the shipment might take days if not weeks is simply not feasible. The combination of Identex's taggant and Niton's scanner meets the immediacy needed is the perfect if not ultimate solution.
Niton's scanning technology has a built-in database that allows for specific information to be permanently tied to a particular formulation of taggant. This information could be date of issue, ownership, purchase order number, shipping detail, expected location, etc. This database can be updated "on the fly" by a field investigator. The built-in database can be connected to a larger central database via direct dial-up, cell phone, or satellite communications. This allows for two-way communications so that a field investigator can download new taggant signatures along with associated database information as well as uploading their findings in the field.
Sure Trace and Identex's management team includes 10 seasoned veterans that posses better than 200 years of sales and management experience. This management team has been assembled to manage the channel distribution partners and pursue specific industrial verticals as they relate to various authentication markets.
Identex filed a process patent application with the U.S. Patent and Trademark Office on March 8, 2002, as application number10/094,297, entitled "Asset and Brand Protection System Using X-Ray Fluorescence Analysis of Unique Elemental Taggant." This application covers the process by which Identex tags and identifies an item using an x-ray fluorescent and spectrographic analyzer and maintains a database of the items tagged with taggants.
Identex has trade-marked the name "Identex" with the Canadian Intellectual Property Office, as well as the phrase "Marked For Life!" The first trade-mark was registered on February 4, 2003 and the second was registered on February 10, 2003. These trade-marks are valid for 15 years from the respective registration dates and are subject to renewal at that time.
Sure Trace/Identex is not aware of any government regulations that might adversely affect its business.
Identex has spent approximately $467,000 US ($700,309 CDN) on research and development in fiscal year 2001 and $285,000 USD ($428,005 CDN) in fiscal year 2002.
Identex's manufacturing process involves the use of certain chemical compounds. The use of these compounds is regulated and Identex has established a waste management and disposal system that complies with all government environmental regulations.
(4/15/2004)
Code of Ethics
For Senior Financial Officers
And the Principal Executive Officer of:
Sure Trace Security Corporation
(The proof of failure of executives especially the Chief Financial Officer)
Notification of inability to timely file Form 10-Q or 10-QSB 2004-05-17
Notification of inability to timely file Form 10-Q or 10-QSB 2004-11-12
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2005-03-31
On May 25, 2005, the Company appointed Michael Cimino to the positions of President of the Company and Vice Chairman of the Board of Directors. On the same date, the Company appointed Ron Bell to the position of head of Operations and Sales. James MacKay will provide continued services under the title of Founder.
Now what becomes interesting is what happened between the acquisition of Identex in January of 2003 up to May 26th 2005 when Michael Cimino took over as President. Here is the information that I have looked at and my personal opinion of what happened.
After the Identex acquisition, Suretrace decided to go after the existing markets that Identex had been working on. These markets included loss prevention, authentification and anti-counterfeiting products throughout Canada on a direct sale basis. The client list included Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Toronto Transit and Atomic Energy of Canada.
In my opinion the marketing of loss prevention, authentification and anti-counterfeiting products to Identex’s existing clients mentioned earlier was just not bringing in enough revenue or maybe Sure Trace realized at that time that the biggest market for their product line was in China. I believe the latter is the case. This I believe is when Mr. James Mackay decided his vision for the company would be changed. The new focus would be on the biggest market in the world – China. I do believe that some of Identex’s clients still have the potential of being clients of Sure Trace in the future, however once Sure Trace is recognized as the Chinese Government’s standard solution for anti-counterfeiting efforts, authentification, tracking and many other uses, then and only then will we be able to prove to the rest of the world the unique value and effectiveness of our products and services.
2005
Suretrace Security goes after the China Market
Suretrace Security Signs JV partnership agreement with Suneray, later to be named True Product ID Beijing LTD.
If you want more info and video info go to :
www.suretrace.com
Alot of Good DD in this post.
I think if you get some of this stock at these low prices and hold You will be very wealthy within a year.
Note: I got his from another board Investors Hub.
By Johncee1
Suretrace Security – From the beginning in 2003 to a transition period in 2004 and the transformation of the company in 2005.
Suretrace Security bought the Canadian company Identex in 2003 with the idea that they would market their s-dna taggant to Canada and the United States. Their initial marketing strategy was to offer loss prevention and industrial security products. Then they altered their marketing strategy to channel partner distribution strategy as opposed to direct sales. To this end, Identex has completed national distribution agreements with the Commissionaires (of Canada) and with ToolWatch Corporation of Denver, CO. Shortly after that the company changed its marketing strategy to go after the anti-counterfeting brand authentification and security market throughout Europe, Asia, Africa and the Middle East. The gross margins in loss prevention were about 68% while margins in authentification are much higher. . The Washington Anti Counterfeiting Coalition has determined that the cost of fraudulent replication of assets amounts annually too more than 1 trillion dollars (USD) worldwide.
The company stated that there are five other companies sell "coded" fluids. However, none of these companies possess portable scanning technology and as such require their clients to use a test called "laser ablation" to prove ownership. The most active of these companies, ISOTAG of Texas, uses a color shifting UV (black) light technology. While accurate, the UV technology is expensive and stationary. In addition, as their coded fluid is organic in nature it sits on top of the surface and fades over time under natural light. Identex has a significant advantage over this technology, as its product is inorganic, bonds with the asset on a molecular basis, will never fade, and is readable with a relatively, inexpensive portable scanner. As such Identex considers itself as a new market category.
To manage this diverse market opportunity Suretrace has broken Authentication into the following subgroups: Government Services, Industrial Authentication and Brand Authentication.
Government
Since September 11th, governments around the world have established significant budgets to augment their security efforts. Identex's products can be used in passports, immigration documents, currency, personnel identification badges, contracts, airspace security, etc.
Industrial Authentication
Industrial authentication provides industries such as automotive with the ability to determine legitimate parts as opposed to "knock-off" parts. False warranty claims and legal liability suites are a major concern for corporations. Industries such as aerospace and high-pressure valve producers are required to test component parts on a routine basis. Art collections, lottery tickets, casino checks and playing cards, gem certificates, the gems themselves all require positive verification.
Brand Authentication
Most, if not all, major brand names from soda pop to clothing, to sporting goods face significant problems due to the fraudulent replication or outright theft of their products.
The largest hurdle to effectively capture this market opportunity(s) has been the lack of quick and positive authenticate in the field. Telling a border guard who suspects a shipment of goods to be fraudulent that authenticating the shipment might take days if not weeks is simply not feasible. The combination of Identex's taggant and Niton's scanner meets the immediacy needed is the perfect if not ultimate solution.
Niton's scanning technology has a built-in database that allows for specific information to be permanently tied to a particular formulation of taggant. This information could be date of issue, ownership, purchase order number, shipping detail, expected location, etc. This database can be updated "on the fly" by a field investigator. The built-in database can be connected to a larger central database via direct dial-up, cell phone, or satellite communications. This allows for two-way communications so that a field investigator can download new taggant signatures along with associated database information as well as uploading their findings in the field.
During 2003 Suretrace Security worked on developing the s-dna technology and the marketing of it. In May of 2004 the company fired their old accountant and hired a new accounting firm Grant Thornton LLP. AT the same time the company issued a code of ethics for senior financial officers and the principal executive officer of Suretrace Security Corporation.
This is the time period when I believe Mr. James Mackay realized he had a big problem on his hands. He had financial officers and executive officers of the company trying to destroy the company and steal the technology and clients.
On May 26th, 2005 the company hired a new President and CEO Michael Cimino. Mr. Cimino will coordinate and oversee the structure of any resulting relationship between the company and its Chinese partners.
From the period in 2003 when Suretrace acquired Identex and proceded to market the new technology to 2004 when Suretrace had to fire existing executives that were trying to destroy the company and then to 2005 when Michael Cimino came on board and signed a JV agreement with our Chinese subsidiary and proceed to go after the China market for anti-counterfeiting, brand authentification and security products.
So within a period of 3 years the company has transformed itself from a company that was looking for new technology to one that found it and has been successful in marketing this technology to the government and industry in China.
In 2005 as you will see in the 2005 press releases that relate to China contracts and cooperation agreements the company has successfully put together the foundation for future contracts in China.
In 2006 after setting the foundation the company acquired two shell companies that they plan on using to set up TPID US and TPID Europe. They have also put three individuals in place that can continue to develop the technology and market it worldwide. These three individuals are Richard A Bendis, Frederick J Young and John G Voeller.
Quote from John G Voeller:
"The problem of counterfeit goods of all kinds has always been with us and the impact of its growth is accelerating. The need for an accurate high-speed identification of goods as original in quality and source is equally critical. None of the traditional technologies of identification of goods is sufficient to perform these functions. True Product ID has taken a different tack to open the opportunity for true validation and verification," comments John Voeller.
Quote from Fredrick J Young:
"Having dedicated a career to China affairs, I have a profound admiration for the extraordinary mutual respect and friendship that Chairman James MacKay has worked so hard to cultivate with China. Counterfeit pharmaceuticals, automobile and airplane parts, and consumer products have injured or killed countless people around the world. No other company is better positioned to halt the spread of counterfeiting worldwide than TPID and to establish a Global Anti-Piracy Standard that will not only help save businesses and governments billions of dollars but will more importantly also help save lives."
Quote from Richard A Bendis:
"This is a great opportunity to develop True Product ID globally. The technology, the industry, the potential market product growth, and the entrepreneurial spirit of the company attracted me to this venture. I am especially pleased that True Products ID will become a Philadelphia-based company and there will be job growth and expansion in the future that will further strengthen Philadelphia's position in the global Knowledge Economy," stated Bendis.
The following is a brief history of the company since 2003. Its products and marketing strategy and press releases as they relate to the China market.
The beginning of Suretrace
On January 29, 2003, the Company acquired all of the issued and outstanding shares of Identification Technologies Inc., a private Alberta corporation ("Identex"), in exchange for 1 million shares of the Company's Series B Preferred Stock. Immediately following the acquisition of Identex, the Company changed its name to Sure Trace Security Corporation.
Identex manufacturers a chemical formulation known as "taggant", which is forensic fluid often likened to DNA. Once applied to the surface of literally any asset (tools & equipment), it actually sinks beneath the surface and bonds with the asset on a molecular basis. Removal of the mark is extremely difficult without obvious damage to the asset. The taggant can withstand extreme abrasion, extended baths in acids and solvents, and even 3,0000F (2,4000F melts glass). Once applied, ownership can be guaranteed with certainty. For example, two identical assets owned by two different companies can be correctly identified as to which asset belongs to which owner with 100% accuracy, 100% of the time.
(Old) Marketing Strategy
Prior to its acquisition by Sure Trace, Identex sold Loss Prevention products throughout Canada on a direct sale basis. Identex's client list is impressive and includes such major corporations as Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Imperial Oil, Toronto Transit, and Atomic Energy of Canada to name a few.
Sure Trace has significantly altered Identex's distribution strategy by introducing a channel partner distribution strategy as opposed to direct sales. To this end, Identex has completed national distribution agreements with the Commissionaires (of Canada) and with ToolWatch Corporation of Denver, CO. Identex is currently negotiating with several additional firms for distribution agreements on an international scale.
This distribution model for Loss Prevention provides Identex with several significant advantages over direct sales. It has often been said that "people buy from people but they generally buy from people they like and trust". Using existing security firms or firms with a complimentary product or service provides Identex with a large existing sales force that has access to a large existing client base that knows and trusts this sales force. Moreover, as this sales force is a third party to Identex, selling costs and expenses are borne by the distribution channel partner until a sale is actually completed. The following examples will elucidate our strategy
(New marketing strategy)
Identex intends to replicate this distribution strategy throughout Europe, Asia, Africa and the Middle East.
While gross margins on Loss Prevention sales average sixty eight percent (68%), margins in Authentication are higher. Identex has elected to initially focus on Loss Prevention as this strategy facilitates a geographically broad distribution of portable scanners, which forms a central core to the ultimate success of Authentication. The benefits of the broad geographical distribution of scanners are described in greater detail below.
Authentication involves positive proof of origin, right to hold, or outright ownership of an asset. These assets can include documents, gems, component parts, and of course brand name finished goods. The Washington Anti Counterfeiting Coalition has determined that the cost of fraudulent replication of assets amounts annually too more than 1 trillion dollars (USD) worldwide.
Identex-A New Market Category
Globally five other companies sell "coded" fluids. However, none of these companies possess portable scanning technology and as such require their clients to use a test called "laser ablation" to prove ownership. The most active of these companies, ISOTAG of Texas, uses a color shifting UV (black) light technology. While accurate, the UV technology is expensive and stationary. In addition, as their coded fluid is organic in nature it sits on top of the surface and fades over time under natural light. Identex has a significant advantage over this technology, as its product is inorganic, bonds with the asset on a molecular basis, will never fade, and is readable with a relatively, inexpensive portable scanner. As such Identex considers itself as a new market category.
To manage this diverse market opportunity Identex has broken Authentication into the following subgroups: Government Services, Industrial Authentication and Brand Authentication.
Government
Since September 11th, governments around the world have established significant budgets to augment their security efforts. Identex's products can be used in passports, immigration documents, currency, personnel identification badges, contracts, airspace security, etc.
Industrial Authentication
Industrial authentication provides industries such as automotive with the ability to determine legitimate parts as opposed to "knock-off" parts. False warranty claims and legal liability suites are a major concern for corporations. Industries such as aerospace and high-pressure valve producers are required to test component parts on a routine basis. Art collections, lottery tickets, casino checks and playing cards, gem certificates, the gems themselves all require positive verification.
Brand Authentication
Most, if not all, major brand names from soda pop to clothing, to sporting goods face significant problems due to the fraudulent replication or outright theft of their products.
The largest hurdle to effectively capture this market opportunity(s) has been the lack of quick and positive authenticate in the field. Telling a border guard who suspects a shipment of goods to be fraudulent that authenticating the shipment might take days if not weeks is simply not feasible. The combination of Identex's taggant and Niton's scanner meets the immediacy needed is the perfect if not ultimate solution.
Niton's scanning technology has a built-in database that allows for specific information to be permanently tied to a particular formulation of taggant. This information could be date of issue, ownership, purchase order number, shipping detail, expected location, etc. This database can be updated "on the fly" by a field investigator. The built-in database can be connected to a larger central database via direct dial-up, cell phone, or satellite communications. This allows for two-way communications so that a field investigator can download new taggant signatures along with associated database information as well as uploading their findings in the field.
Sure Trace and Identex's management team includes 10 seasoned veterans that posses better than 200 years of sales and management experience. This management team has been assembled to manage the channel distribution partners and pursue specific industrial verticals as they relate to various authentication markets.
Identex filed a process patent application with the U.S. Patent and Trademark Office on March 8, 2002, as application number10/094,297, entitled "Asset and Brand Protection System Using X-Ray Fluorescence Analysis of Unique Elemental Taggant." This application covers the process by which Identex tags and identifies an item using an x-ray fluorescent and spectrographic analyzer and maintains a database of the items tagged with taggants.
Identex has trade-marked the name "Identex" with the Canadian Intellectual Property Office, as well as the phrase "Marked For Life!" The first trade-mark was registered on February 4, 2003 and the second was registered on February 10, 2003. These trade-marks are valid for 15 years from the respective registration dates and are subject to renewal at that time.
Sure Trace/Identex is not aware of any government regulations that might adversely affect its business.
Identex has spent approximately $467,000 US ($700,309 CDN) on research and development in fiscal year 2001 and $285,000 USD ($428,005 CDN) in fiscal year 2002.
Identex's manufacturing process involves the use of certain chemical compounds. The use of these compounds is regulated and Identex has established a waste management and disposal system that complies with all government environmental regulations.
(4/15/2004)
Code of Ethics
For Senior Financial Officers
And the Principal Executive Officer of:
Sure Trace Security Corporation
(The proof of failure of executives especially the Chief Financial Officer)
Notification of inability to timely file Form 10-Q or 10-QSB 2004-05-17
Notification of inability to timely file Form 10-Q or 10-QSB 2004-11-12
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2005-03-31
On May 25, 2005, the Company appointed Michael Cimino to the positions of President of the Company and Vice Chairman of the Board of Directors. On the same date, the Company appointed Ron Bell to the position of head of Operations and Sales. James MacKay will provide continued services under the title of Founder.
Now what becomes interesting is what happened between the acquisition of Identex in January of 2003 up to May 26th 2005 when Michael Cimino took over as President. Here is the information that I have looked at and my personal opinion of what happened.
After the Identex acquisition, Suretrace decided to go after the existing markets that Identex had been working on. These markets included loss prevention, authentification and anti-counterfeiting products throughout Canada on a direct sale basis. The client list included Bombardier, Ford Canada, GM Canada, Stelco Steel, Irving Oil, Toronto Transit and Atomic Energy of Canada.
In my opinion the marketing of loss prevention, authentification and anti-counterfeiting products to Identex’s existing clients mentioned earlier was just not bringing in enough revenue or maybe Sure Trace realized at that time that the biggest market for their product line was in China. I believe the latter is the case. This I believe is when Mr. James Mackay decided his vision for the company would be changed. The new focus would be on the biggest market in the world – China. I do believe that some of Identex’s clients still have the potential of being clients of Sure Trace in the future, however once Sure Trace is recognized as the Chinese Government’s standard solution for anti-counterfeiting efforts, authentification, tracking and many other uses, then and only then will we be able to prove to the rest of the world the unique value and effectiveness of our products and services.
2005
Suretrace Security goes after the China Market
Suretrace Security Signs JV partnership agreement with Suneray, later to be named True Product ID Beijing LTD.
If you want more info and video info go to :
www.suretrace.com