text:
EX-99.1
3
a07-15179_1ex99d1.htm
EX-99.1
Exhibit
99.1
NEWS RELEASE
Media Contact:
BIO-key International, Inc.
Bud Yanak
732-359-1113
Investor Contact:
DRG&E
Gus Okwu, Managing Director
404-892-8178
BIO-key Announces Sale of Fire Safety Division to NYSE
Listed Company
New Liquidity Enables Greater
Focus And Investment In Core Law Enforcement and Biometrics Business
Wall,
NJ, May 21, 2007
-
BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in wireless
public safety and finger-based biometric identification solutions, today
announced that it has reached an agreement, subject to customary closing
conditions, to sell its Fire Safety
business for $7 million in cash.
Proceeds from the transaction will be applied to repaying debt and will
be used for working capital to expand the company's core Law Enforcement and
Biometrics business. The purchaser is a
world leader in public safety software solutions and is a division of large
publicly traded NYSE Company. They will be making a separate announcement on
this purchase.
"The sale of our Fire Safety Division enables the company to focus its
resources on our core business - developing unique applications for mobile and
handheld devices used by law enforcement and public safety professionals and
advanced biometric identification solutions", said Michael DePasquale, BIO-key's
Chief Executive Officer. "We paid approximately
$2 million dollars for the Fire Business in 2004 as part of the acquisition of
the Mobile Government Division from Ather Systems. As a result of our
investments in technology and customer service, we are proud of the value we
created for our shareholders in the three years since we purchased this
business. The sale of this non-strategic business will allow us to eliminate
all our senior secured debt and provide the working capital to accelerate our
efforts to develop new software that melds the best of our biometric and law
enforcement businesses. With liquidity and a
stronger balance sheet we believe we are now also better positioned for strategic
growth opportunities".
BIO-key plans on applying a portion of the sale proceeds to fully repaying
its $4.3 million in convertible debt obligations. Additional detail on the transaction will be
provided on BIO-key's first quarter 2007 earnings conference call as detailed
below.
Conference Call Details
BIO-key has scheduled a call for Monday, May 21st at 9:00 a.m. Eastern
Time to discuss first quarter 2007 financial results. Dialing 303-262-2125 and asking for the
BIO-key call at least 10 minutes prior to the start time can access the
conference call live. The conference
call will also be broadcast live over the Internet by logging onto
www.bio-key.com. A telephonic replay of
the conference call will be available through May 29th
, 2007 and may be accessed by dialing
303-590-3000 and using the pass code 11089929#.
Additionally, an archive of the webcast will be available shortly after
completion of the call on the Company's website (www.bio-key.com) for a period
of three months.
About
BIO-key
BIO-key International, Inc., headquartered in Wall, New Jersey, develops
and delivers advanced identification solutions and information services to law
enforcement departments, public safety agencies, government and private sector
customers. BIO-key's mobile wireless
technology provides first responders with critical, reliable, real-time data
and images from local, state and national databases. BIO-key's high performance, scalable,
cost-effective and easy-to-deploy biometric finger identification technology
accurately identifies and authenticates users of wireless and enterprise data
to improve security, convenience and privacy and to reduce identity theft. Over 2,500 police, fire and emergency services
departments in North America use BIO-key solutions, making BIO-key the leading
supplier of mobile and wireless solutions for public safety worldwide. (http://www.bio-key.com)
This news release contains forward-looking statements that are subject
to certain risks and uncertainties that may cause actual results to differ
materially from those projected on the basis of these statements. The
words "estimate", "project", "intends", "expects", "believes" and similar
expressions are intended to identify forward-looking statements. Such
forward-looking
statements are made based on management's beliefs, as well as
assumptions made by, and information currently available to, management
pursuant to the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995. For a more complete description of these and other
risk factors that may affect the future performance of BIO-key International,
see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other
filings with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date made. The Company also undertakes no
obligation to disclose any revision to these forward-looking statements to
reflect events or circumstances after the date made or to reflect the
occurrence of unanticipated events.
# # #

text: BIO-key International, Inc.

text: Gus Okwu

text: BIO-key International, Inc.

text: BIO-key International, Inc.


dataset: buster

text:
EX-99.1
6
p15353exv99w1.htm
EX-99.1
exv99w1
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contacts:
Liz Sharp, VP Investor Relations
Smith & Wesson Holding Corp.
(413) 747-3304
lsharp@smith-wesson.com
William F. Spengler, EVP, Chief Financial Officer
Smith & Wesson Holding Corp.
(413) 747-3304
Smith & Wesson Holding Corporation Completes
Acquisition of Universal Safety Response, Inc.
SPRINGFIELD,
Mass., July 21, 2009 - Smith & Wesson Holding Corporation (NASDAQ Global Select:
SWHC), parent company of Smith & Wesson Corp., the legendary 157-year old company in the global
business of safety, security, protection and sport, today announced that it has completed its
acquisition of Universal Safety Response, Inc. (USR), a privately held, full-service security
systems solutions provider.
As noted in a press release of June 18, 2009, the acquisition provides Smith & Wesson entry into
the rapidly growing perimeter security market, a move aligned with the company's growth and
diversification strategy, and one that expands its revenue base into commercial, non-firearms
categories. USR will be operated as a wholly owned subsidiary of Smith & Wesson.
USR is a full-service, uniquely positioned, fast-growing provider of integrated perimeter security
solutions. USR is the original creator of the patented GRAB
®
vehicle safety barrier, which
represents the fastest growing barrier technology in the world and is the only active barrier
product that meets the Federal Highway Administration's TL-2 safety test, the Department of State's
K12 L3 security test, and the Department of Defense ASTM M50 Shallow Mount security test. USR has
leveraged the success of its GRAB
®
barrier systems to become a turnkey perimeter security provider,
with a large portfolio of products and services. USR serves a variety of clients in the defense,
transportation and petro-chemical industries, as well as airports, Fortune 500 companies and
national laboratories.
Michael F. Golden, President & CEO of Smith & Wesson Holding Corporation, said, "I am pleased to
announce that Universal Safety Response has now joined the Smith & Wesson family of companies. USR
is a highly respected brand name in the industry, and its state-of-the-art, turnkey security
systems embody innovation, expertise, and the highest levels of quality. USR is a tremendous
compliment to our own Smith & Wesson brand and products, expanding our reach beyond firearms, and
into the broader market for products and services that exemplify safety, security and protection.
We look forward to building and expanding our businesses across the globe, and we want to thank all
of our employees, at Smith & Wesson and at USR, for their continued dedication and our resulting
success."
In the current year, which ends April 30, 2010, the acquisition will be immediately accretive
excluding the purchase accounting impact on a per share basis and approximately breakeven per share
on a US GAAP basis. The acquisition is expected to be accretive to EPS on a U.S. GAAP basis in
future periods.
Avondale Partners LLC served as the financial advisor to USR in the acquisition.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of federal securities
laws. Forward-looking statements give Smith & Wesson's current expectations or forecasts of future
events. These forward looking statements include expectations regarding (i) the anticipated
benefits to be derived from the acquisition of USR; (ii) the expected financial effect of the
acquisition, (iii) the accretive impact of the acquisition, (iv) the effect of the acquisition on
customer growth strategy, (v) the ability of the Company's management to integrate the acquired
business in a successful manner, (vi) the market position, market acceptance, demand for, and
growth prospects of USR's products, and (vii) USR's platform for growth. Smith & Wesson cautions
that these statements are qualified by important factors that could cause actual results to differ
materially from those reflected by such forward-looking statements. Such factors include the
demand for Smith & Wesson's products, Smith & Wesson's growth opportunities, the ability of Smith &
Wesson to obtain operational enhancements, the ability of Smith & Wesson to increase its production
capacity, the ability of Smith & Wesson to engage additional key employees, and other risks
detailed from time to time in Smith & Wesson's reports filed with the SEC, including its Form 10-K
Report for the fiscal year ended April 30, 2009.
Smith & Wesson assumes no obligation to update publicly such forward-looking statements, whether as
a result of new information, future events or otherwise.
About Smith & Wesson
Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is
parent company to Smith & Wesson Corp., one of the world's largest manufacturers of quality
firearms and firearm safety/security products and parent company to Thompson/Center Arms, Inc., a
premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable
firearm systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter
protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield,
Massachusetts with manufacturing facilities in Springfield, Massachusetts; Houlton, Maine; and
Rochester, New Hampshire. The Smith & Wesson Academy is America's longest running firearms
training facility for law enforcement, military and security professionals. For more information
on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com. For more information on
Thompson/Center Arms, log on to www.tcarms.com.
About Universal Safety Response
Based in Franklin, Tennessee, USR is a full-service perimeter security integrator, barrier
manufacturer and installer. Founded in 1994, USR is the original creator of GRAB
®
, which has
become the fastest growing barrier technology in the world. USR serves a variety of clients in the
defense, transportation and petrol-chemical industries, as well as corporate facilities, airports,
Fortune 500 companies, and national laboratories. For more information on Universal Safety
Response, log on to www.usrgrab.com.

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Smith &
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Universal Safety
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source_dataset: expertai/BUSTER

annotation_scope: BUSTER company-role spans plus reviewed organization, fund, person, and event additions with document-local surface projection; annotations remain non-exhaustive


text:
EX-99.1
5
v121972_ex99-1.htm
Unassociated Document
ITEX
CORPORATION ACQUIRES MEDIA SERVICES BUSINESS
·
ASSETS INCLUDE $4 MILLION OF AD CREDITS AND 300 MEDIA/TRAVEL
ACCOUNTS
· LAUNCHES
WWW.ITEXMEDIA.COM
Bellevue,
WA - August 6, 2008
-
ITEX
Corporation (OTCBB: ITEX), The
Membership Trading Community SM, a
leading
marketplace for cashless business transactions in North America, has
acquired the media trading system, Intagio Media Services client base, and
advertising credit assets of Intagio Corporation of San Francisco, California
("Media Services"). The advertising and media sector is currently the largest
component of transaction volume in the ITEX Marketplace. With the new Media
Services, ITEX will expand its capability in this market sector.
The
Media
Services were acquired on August 1, 2008. The data migration into ITEX's
web-based trading and payment systems platform has been completed. The acquired
accounts will be managed from ITEX's corporate-owned office in Chicago,
Illinois. Doug Hayner and Asimina Georgiou will join the ITEX team from Intagio,
bringing with them valuable client relationship experience.
"We
are
pleased to greatly enhance the most active sector of our trading community
with
potentially high-volume media and hospitality clients", said Chairman and CEO
Steven White. "With this acquisition, we now have the ability to offer a variety
of new and exciting media opportunities directly to the ITEX Marketplace.
Our
media managers will offer enhanced media planning and execution services,
expanding our clients'
budgets by enabling them to fund part of their media plan through the trading
of
excess goods and services. In addition, we plan to use our expanded media
base
to register more member businesses in the hospitality, travel, and restaurant
industries".
"This
is
a low-risk acquisition with great upside potential", White continued. "Our
expansion into media trading services compliments our current business model
and
we believe it provides ITEX a significant growth opportunity".
Terms
of the Transaction
The
purchase
price of approximately $750,000 included the following:
·
A
cash payment of $ 51,468;
·
A
$687,500 secured promissory note financed by the seller at 8% APR
for 12
months;
·
Assumption
of certain liabilities.
The
acquired assets include the following:
·
$4,000,000
in media inventory;
·
300
client relationships;
·
Historical
transactional data and associated accounts;
·
Accounts
receivable.
ITEX's
cash and cash equivalents exceeded $1.0 million as of July 31, 2008.
About
ITEX
ITEX,
The
Membership Trading Community SM,
is a
thriving network of 24,000 participating member businesses. Members increase
sales through an exclusive distribution channel managed by franchisees,
licensees and corporate-owned locations, by utilizing ITEX dollars to exchange
goods and services. ITEX is powered by ITEX Payment Systems, the leading payment
technology platform for processing cashless business transactions. ITEX is
headquartered in Bellevue, WA. For
more
information, please visit ITEX's website at www.itex.com.
Contacts:
Alan
Zimmelman
ITEX
Corporation
425.463.4017
alan@itex.com
Budd
Zuckerman
Genesis
Select
303-415-0200
bzuckerman@genesisselect.com
This
press release contains forward-looking statements that involve risks and
uncertainties concerning our expected performance (as described without
limitation in the quotations from current management in this release) and
comments within the safe harbor provisions established under The Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from the results predicted and reported results should not be considered as
an
indication of our future performance. We believe that these potential risks
and
uncertainties include, without limitation: the continuing development of
successful marketing strategies for our concepts; our ability to increase
revenues and sustain profitability; the availability of adequate working
capital; our dependence both on key personnel and our franchise network; and
the
effect of changes in the overall economy and in technology. Statements in this
release should be evaluated in light of these factors. These risk factors and
other important factors that could affect our business and financial results
are
discussed in our periodic reports and filings with the Securities and Exchange
Commission, including our Forms 10-K and Forms 10-Q, which are available at
www.sec.gov., including under the caption, "Management's Discussion and Analysis
of Financial Condition and Results of Operations." All information set forth in
this release is as of August 6, 2008, and ITEX undertakes no duty to update
this
information.

text:
ITEX
CORPORATION

text: MEDIA SERVICES

text:
ITEX
Corporation

text: Intagio Media Services

text: Intagio Corporation

text: Media Services

text:
Media
Services

text:
Media
Services

text:
ITEX
Corporation