The tidbit is highlighted:
Wednesday October 7, 1:55 pm Eastern Time
Company Press Release
SOURCE: Digital Descriptor Systems, Inc.
Digital Descriptor Systems, Inc.
Announces Completion of Regulation 504 Offering
LANGHORNE, Penn., Oct. 7 /PRNewswire/ -- Garrett U. Cohn, President of DIGITAL
DESCRIPTOR SYSTEMS, INC. (OTC Bulletin Board: DDSI - news), a leading manufacturer
and marketer of digitized imaging systems for the criminal justice and security markets, today
announced the completion of the Regulation 504 offering which allows for up to $1 million of
capital infusion. The proceeds of the 504 offering are being utilized in the development phase of
the Compu-Scan contactless fingerprint capture device. Compu-Scan received patent pending
status in June 1998.
The Compu-Scan device has been submitted to the FBI for certification and the Company
expects it to be certified before the end of the year, with sales and delivery to begin in early 1999.
''As previously announced, we are presenting Compu-Scan at the International Association of
Chiefs of Police in Salt Lake City, October 18- 21, 1998. We will be making specific marketing
relationship and alliance announcements following this conference,'' Cohn concluded.
After the completed 504 offering, total shares outstanding for DDSI are approximately 5.1 million
shares.
Except for historical matters contained herein, the matters discussed in the press release are
forward-looking and are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements
reflect numerous assumptions, especially as regarding installation schedules and product mix, and
involve risks and uncertainties which may affect Digital Descriptor Systems, Inc.'s business and
prospects and cause actual results to differ materially from these forward-looking statements.
SOURCE: Digital Descriptor Systems, Inc. |
