To ALL: Good news on FINX (Finger/Matrix)
Finger/Matrix Announces First Product Test Ties
TARRYTOWN, N.Y.--(BUSINESS WIRE)--Aug. 7, 1996--Finger/Matrix Inc. (NASDAQ EBB:FINX), the electronic fingerprinting pioneer that came out of Chapter 11 bankruptcy last year under new management announced here Wednesday, establishment of product test relationships with EDS, in El Monte, Calif., and IBM in Great Britain.
Thomas T. Harding, president and CEO, told stockholders at their first annual meeting in four years that last month's introduction of the company's two major electronic fingerprinting systems already has produced these initial results.
Both companies will soon receive Finger/Matrix Chek/One access control systems for extensive testing, Harding said.
Harding also reported the company's first distribution contract, agreed in principle, with Engineered Security Systems Inc., of Whippany, N.J. Under the agreement, ESS Inc. will market Chek/One systems to commercial and industrial security system customers throughout the New York - New Jersey - Connecticut area.
Such access control systems verify the identity of individuals in less than two seconds by electronically matching one fingerprint against a computer file. They will be applied increasingly to controlling access to data networks, physical areas, and to assuring the identity of employees, bank depositors and store customers, Harding said.
Shareholders were escorted to the company's Dobbs Ferry headquarters after the meeting for demonstrations of its second major access system, the Chek/Ten, which scans all 10 fingers, digitizes the fingerprint images and stores them in a computer. This large system is intended for use in the law enforcement community and will soon undergo certification tests for the FBI.
In their official actions, the shareholders approved stock option plans for both employees and directors, and returned all current members to the board of directors. They are:
Thomas T. Harding, President & CEO
Gordon R. Molesworth, Secretary
Seth M. Lukash, Chairman & CEO, Tridex Corp.
Lewis S. Schiller, Chairman & CEO, Consolidated Technologies Inc.
Fred I. Sonnenfeld, General Counsel & Partner, Sonnenfeld & Richman.
CONTACT: Molesworth Associates Inc., Green Valley, Ariz.
Gordon Molesworth, 520/625-0035 |
