News for 'GSFC' - (Sure Trace Announces Plan to Spin Out Its Subsidiary
Globe Staff Consulting to Sure Trace Shareholders)
BAYONNE, France and PHILADELPHIA, July 13, 2006 /PRNewswire-FirstCall via
COMTEX/ -- 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 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: suretrace.com and to
gsc.fr.
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.
SOURCE Sure Trace Security Corporation
CONTACT: Michael Cimino, President, Sure Trace Security
Corporation, +1-215-972-6999,
michaelc@suretrace.com
URL: prnewswire.com
suretrace.com
gsc.fr
www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.
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KEYWORD: Pennsylvania
France
INDUSTRY KEYWORD: CPR
HTS
OTC
BIM
HMS
HEA
MTC
SUBJECT CODE: TNM
DIV
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