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Dynamic Biometric Systems Announces That the US Patent Office Has Approved Claims 1 Through 15 of Patent #1; Receives an Order for 1,000 Bio-Pens and FINRA Has Approved Trading Status
(Marketwire Via Acquire Media NewsEdge) PHOENIX, AZ, August 8 / MARKET WIRE/ --
Dynamic Biometric Systems, Inc. (PINKSHEETS: DYBO), a Nevada corporation (the "Company"), announced today that it has
just been approved to trade on the Pink Sheets under the symbol DYBO.
Information on the Company including current financial information is
available on the Company's web site www.dynasig.com. Peacock, Hislop,
Staley & Given ("PHS&G"), a Phoenix, Arizona Broker Dealer, sponsored the
Company for trading and is making a market in the common shares of DYBO.
The Head Trader's name is Gene Harries and he can be reached at
602-952-6822.
The Company also announced that on July 24, 2008, the United States Patent
and Trademark Office's (the "USPTO") Board of Patent Appeals and
Interference has ruled claims 1 to 15 of the Company's Patent No. 1, titled
"Method and Apparatus for Capturing and Authenticating Biometric
Information from a Writing Instrument," to be patentable. Patent #1 was
originally filed on August 23, 2004. The Company believes that Claims 1
through 15 are the most important claims of the Patent. Patent #1, when
formally issued, will document and as a matter of public record protect the
uniqueness of the Company's proprietary hardware design and multimodal
authentication strategy and security design. The Company hardware
capability is what discriminates the practical ability of the Company's
products for rapid and broad implementation without extensive training.
The Company has also filed its Patent #1 with the European Patent Office
(the "EPO") covering England, France, Germany and other European Union
countries. The Company is awaiting comments on this application. In
September 2006, the Company filed Patent #2 with the USPTO titled
"Signature Authentication" but due to USPTO backlog does not expect action
until 2010. Regardless, the Company filed Patent #2 with the EPO on March
31, 2008.
Lastly, the Company announced that it had entered into a master
manufacturing and distribution agreement with Beacon Group SW, Inc. located
in Tucson, AZ ("Beacon"). Under this agreement the Company received a
$150,000 purchase order for Bio-Pen parts. Beacon expects to start
shipping completed Bio-Pens in October 2008. This activity is related to
the Company's current focus on developing a marketing relationship with
NISH, Inc. ("NISH"). NISH is a contracting umbrella which in 2007
supplied, through its 545 affiliates, more than $1.6 billion in products
and services to various government agencies under the AbilityOne Program.
Beacon, which is one of the NISH affiliates, will manufacture and supply
the Bio-Pen System for NISH's Secure Mail and Digital Document Services
initiative. In 2007 a NISH affiliate was awarded the initial consolidated
mail contract for Washington, DC area Department of Homeland Security (DHS)
valued at $121 million over eight years. The initial year of that contract
starts in October 2008. The Company's objective for the next year is to
have sites at more than 100 NISH Business Solutions Network affiliates
where they are actively using the Bio-Pen System. These sites will
directly expose the Company's products to decision makers in various
government (federal, state and local) agencies and commercial customers.
NISH has already introduced the Bio-Pen System to these entities on
multiple occasions. Beacon has started and NISH has committed to sponsor
the process of having the Bio-Pen product added to the U.S. Government's
special authorized product list (the Procurement List or the "PL"), which
is expected to take approximately 10 to 12 months. Being entered on the PL
will allow NISH affiliates to sell the AbilityOne Bio-Pen System to the
entire Federal Government under various budgetary set asides and
initiatives.
The Company is continuing its commercial efforts. The Company also
announced today that on June 27, 2008, the Company contracted with Arcware
Solutions, LLC to allow Arcware to market the Bio-Pen hardware and software
(the "DynaSig System") to the estimated 600 Laserfiche resellers and VARs.
Laserfiche is an enterprise level document management system prevalent in
Healthcare, Finance and local Governments with an estimated 25,000 users.
The Company is continuing its prior sales initiatives in the U. S.,
Germany, the United Kingdom and Korea.
About DBSI
Since 2003, DBSI has been developing proprietary hardware (the "Bio-Pen")
and its proprietary software to allow for the verification of dynamic
signatures (together the "DynaSig System"), i.e. the system captures the
unique act of signing rather than the signature image. DBSI has developed
multiple variations of the Bio-Pen, which include full electronic
authentication combined with actual signature capture. DBSI has developed
3 end-user DynaSig System applications: PDF, LogBook and LockBox, which can
be used for access control and electronic document management. These
applications work individually or as a suite with different features
including verification of sender and recipient, access and document
execution by multiple verified signers, content validation, and a permanent
logbook of access. Although DBSI has yet to generate material revenues
from its technology, it currently has more than 600 finished Bio-Pens in
inventory ready for sale. DBSI's office is located at 14647 S. 50th St.,
Suite 130 Phoenix, AZ 85044 and its phone number is` (480) 705-9110.
Information on DBSI is also available on its website at
www.dynamicbiometric.com.
Forward-Looking Statements: Certain matters discussed within this press
release may be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Although the Company believes
the expectations reflected in any forward-looking statements are based on
reasonable assumptions, it can give no assurances that its expectations
will be attained. Such statements are inherently uncertain, and actual
results and activities may differ materially from those estimated or
projected. Certain factors that can affect the Company's ability to
achieve its anticipated results include, among others, uncertainties
inherent in the development of a new business and limited capital. Further
factors affecting future performance are detailed in the Company's 10-K and
10-Q on file with the SEC. The Company also has detailed financial
information available on its website. The Company has allowed is SEC
filings to go delinquent but is in the process of curing such delinquency.
FOR MORE INFORMATION CONTACT:
Michael S. Williams
Chairman of the Board
480-759-9400, x-100
Copyright ? 2008 Marketwire
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