The press release of March 25 said that tax stamps were in production and payment had to be made within 90 days from date of delivery which is about now. Could it be that the first payment has been made???
Thursday March 25, 1:20 pm Eastern Time
Company Press Release
SOURCE: Holographic Dimensions, Inc.
Holographic Dimensions, Inc. Commences Shipment
Of Security Holograms For Russia #601 Tax Stamp
Program
MIAMI, Fla., March 25 /PRNewswire/ -- Holographic Dimensions, Inc. (OTC Bulletin Board: HGRM - news) announced
today that it has commenced shipping security holographic materials for the Russia Government #601 Tax Stamp Program. As
previously announced in February, HGRM was awarded the contract to supply in excess of $130,000,000 (one hundred thirty
million U.S. dollars) of security holograms for the Russia Government #601 Tax Stamp Program over the next 12 (twelve)
months.
Pursuant to Russia Decree #601, a wide variety of consumer products will incorporate a hologram security device to insure the
authenticity of products produced in Russia, prevent their diversion and effectively insure tax collection on those products. The
project initially invo1ves the production of over 5 billion holograms for use on liquor bottles, computer and consumer
electronics products.
Concurrent with the delivery of U.S. produced holograms, HGRM and its joint venture partner Spetsznak will establish an
equally owned joint venture manufacturing facility to service the 601 program, other Russia Govt. Hologram projects, the CIS,
and Western European Holography markets. The project is projected to double each year over the next 3 years as the 601
Tax Program is fully implemented.
HGRM is currently producing and shipping in excess of 50,000,000 units, or approximately $1,300,000 weekly and will
expand production to more than 100,000,000 units weekly as the project is implemented. Specific details of the shipments
cannot be disclosed for security reasons.
Pursuant to the terms of HGRM's supply contract for the project, and the #601 decree, HGRM will be paid as the
holographic tax stamps are distributed, however, no later than 90 days from the date of delivery. To further insure compliance
with the payment term of the supply contract with HGRM, NeftchimBank has issued a bank guarantee for the project.
According to Kevin G. Brown, President & CEO, ''We are now in full production according to the production requirements
of our customer. The increases in cash flows that this project will provide us with will enable the Company to pursue strategic
mergers, acquisitions, and relationships in addition to completing the development of several new innovative technologies the
Company is pursuing.''
Holographic Dimensions, Inc. is a vertically integrated manufacturer of holographic imagery. The Company's products are
incorporated into a variety of security products including, but not limited to, credit cards, negotiable documents, tax stamps,
passports, drivers licenses, event tickets, transit passes, and consumer products for marketing. The Company's customers
include Merck, Lilly, NASA, The Coca-Cola Company, Hoescht and Ameritech, amongst many others.
HGRM continues to enter new markets and is currently represented with active sales accounts in Mexico, Columbia, Brazil,
Guatemala, Ecuador, Peru, Argentina, Venezuela, Panama, Uruguay, Canada, Germany, Poland, Russia, Turkey and South
Africa. The Company continues to seek quality representation in all global markets.
This release may include ''forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. This is neither
an offer to buy or sell a security. This is for informational purposes only, from sources deemed to be reliable. For more
information visit us on the World Wide Web page at www.hgrm.com or contact:
FNG & Associates, Inc.
3416 Via Oporto
Suite 300
Newport Beach, CA 92663
Tel: 949-723-3830
Fax: 949-723-3833
Contact: George Mottel
SOURCE: Holographic Dimensions, Inc.
|
