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Digital Angel Corporation Demonstrates Technology at House Agriculture Committee Exposition
SO. ST. PAUL, Minn., July 22 /PRNewswire-FirstCall/ -- Digital Angel Corporation , an advanced technology company in the field of rapid and accurate identification, location tracking, and condition monitoring of high-value assets, participated in a technology exposition for the House Agriculture Committee on Capitol Hill today.
President & CEO Kevin McGrath commented, "We found the technology exposition to be exciting and informative. In particular, Digital Angel demonstrated a variety of technologies in the field of tracking and identification, most notably, RFID tags and chips, scanners, and state-of-the-art herd management software. Moreover, I must say we found ourselves in good company, because the range of technologies together forms an ideal pool for a national livestock ID program such as the one that Secretary of Agriculture Ann Veneman has endorsed. Our technology can be rolled out quickly in quantities to cover the entire national livestock population as soon as we are called upon to do so."
Commenting about the House Agriculture Technology Exposition, Congressman Gil Gutknecht, Republican from Minnesota said, "I was pleased that the House Agriculture Committee held the Livestock Technology Expo today. Agriculture is truly becoming a high tech industry. Technology providers, such as Digital Angel, will play a critical role in the future of agriculture by bringing added value to the U.S. livestock industry."
Also commenting on the House Agriculture Technology Exposition, Congressman Betty McCollum, Democrat from Minnesota, said, "I am proud of South St. Paul company Digital Angel and am glad they participated in today's House exposition. Minnesota families can also be proud that Minnesota companies are helping to protect the safety of our food supply. As Digital Angel demonstrated at today's presentation, the company's technology will help ensure that our country has the best livestock identification and tracking system in the world."
McGrath also said, "Our microchip technology is an inexpensive and efficient basis for animal tracking, whether it is for the purpose of tracing the source of a future outbreak of Mad Cow Disease, for other health reasons, or for efficient herd management. We have implemented programs dealing with cattle, swine, fisheries -- and all of them have proven effective. We certainly join with those on Capitol Hill who urge the Department of Agriculture to move with all deliberate speed to implement a national animal ID program to protect the health of the nation's herds and the safety of the national food supply."
About Digital Angel Corporation
Digital Angel Corporation develops and deploys sensor and communications technologies that enable rapid and accurate identification, location tracking, and condition monitoring of high-value assets. Applications for the Company's products include identification and monitoring of pets, fish and livestock through its patented implantable microchips; location tracking and message monitoring of vehicles and aircraft in remote locations through systems that integrate GPS and geosynchronous satellite communications; and monitoring of asset conditions such as temperature and movement, through advanced miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital Solutions, Inc. . For more information about Digital Angel, please visit http://www.digitalangelcorp.com/.
The statements in this press release that are not strictly historical, are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to be covered by the safe harbors created by these sections. The forward-looking statements are subject to risks and uncertainties and the actual results that the Company achieves may differ materially from these forward-looking statements due to such risks and uncertainties, including, but not limited to, that recent changes in the Company's senior management could have an adverse effect on the Company's financial results that the Company's stockholders will experience dilution if certain debt owned by the Company is converted into common stock; the risk of foreclosure on substantially all of the Company's assets; that the Company's majority stockholder, Applied Digital Solutions, Inc. is able to completely control the board of directors and may support actions that conflict with the interests of other stockholders; that the Company's earnings will decline if it writes off additional goodwill and other intangible assets; that exercises of the Company's options and warrants outstanding and available for issuance may adversely affect the market price of the Company's common stock, the Company's inability to generate income, the Company's ability to maintain patent and trade secret protection, domestic and foreign government regulation, the Company's sales to government contractors of animal identification products, dependence on a single production arrangement for its patented syringe-injectable microchips, dependence on principal customers, competition in the visual and electronic identification markets, foreign currency rate fluctuation, dependence on a small team of senior management and the Company's ability to develop, integrate, miniaturize and market the Digital Angel(TM) technology. A detailed statement of risks and uncertainties is contained in the Company's reports to the Securities and Exchange Commission, including in particular the Company's Form 10-K for the fiscal year ended December 31, 2003. Investors and stockholders are urged to read this document carefully. The Company can offer no assurances that any projections, assumptions or forecasts made or discussed in this release will be met, and investors should understand the risks of investing solely due to such projections. The Company undertakes no obligation to revise any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.
For further information, please contact: Investors, Mike Lucarelli, +1-212-691-8087, m.lucarelli@allencaron.com, or Media, Len Hall, +1-949-474-4300, len@allencaron.com, both of Allen & Caron Inc., for Digital Angel Corporation.
Digital Angel Corporation
CONTACT: Investors, Mike Lucarelli, +1-212-691-8087,m.lucarelli@allencaron.com, or Media, Len Hall, +1-949-474-4300,len@allencaron.com, both of Allen & Caron Inc., for Digital Angel Corporation
Web site: http://www.digitalangelcorp.com/
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