NEW YORK, April 9 /PRNewswire-FirstCall/ -- e-Smart(R) Technologies, Inc. (Pink Sheets: ESMT); ("e-Smart" or the "Company") and its parent company, IVI Smart Technologies, Inc., (IVI) (hereinafter, collectively, the "Company") learned from disclosures filed in a Motion last month by IDsmart LLC, in the United States District Court, Northern District of California, San Francisco Division, Case No. 3:06cv5528MHP, that IDsmart admitted that its engineers were directed to use e-Smart's technology in developing IDsmart's biometric smart card product, as the original complaint filed by the Company against IDsmart for theft and misappropriation of our biometric smart card technology alleges. IDsmart also confirmed that, because its engineers had been instructed to use e-Smart's technology, IDsmart did not actually have a product design and was unable to "release" any product until approximately four months ago.
Mary Grace, President and CEO of e-Smart(R) said, "Finally, IDsmart admitted what we alleged in the original lawsuit and which we have argued before the Court for nearly two years -- which IDsmart repeatedly denied until now. IDsmart now admits not only that their engineers used e-Smart's technology but also that they have known for more than a year that e-Smart's technology was used in developing IDsmart's claimed biometric smart card product. Rather than acknowledging that they had used e-Smart's technology, IDsmart continued trying to sell an IDsmart product and failed to acknowledge to the Court that e-Smart's claims were true. In the original lawsuit filed against IDsmart the Company alleged the theft and misappropriation of e-Smart's technology by IDsmart, which claim IDsmart repeatedly denied under oath to the court. The Company also reported the theft of the technology to both the police and FBI in 2006, which IDsmart, Michael Gardiner and Wayne Drizin, both convicted felons, denied at that time. The Company will now file new reports to both the police and FBI of the recent admission and urge them to take the appropriate action to return the Company and shareholder's property. I hope the courts will impose additional sanctions against these individuals who have now admitted that IDsmart obtained and had its engineers using e-Smart technology -- technology that belongs to the Company and its shareholders."
e-SMART(R) Technologies, Inc., is the exclusive supplier of the Biometric Verification Security(TM) (BVS2(TM)) system, the "I AM"(TM) card and the Super SMART Card(TM) system and related system technologies for Asia, Africa and the U.S., which e-SMART(R) believes to be the world's first smartcard of its kind with an on-card sensor and a full match on-card system and other unique technologies for secure biometric ID verification. e-SMART'S(R) next generation technologies allow governments, public and private institutions, healthcare providers and insurers, companies large and small, to provide a superior level of protection. The "I AM"(TM) card, Super SMART Card(TM) system and BVS2(TM) security system can assist in securing countries from criminal and terrorist threats, stop ID and payment fraud, along with identity theft in connection with physical and logical access and financial transactions, including telephone, Internet payment and other financial and data related transactions all while protecting individual privacy.
SAFE HARBOR STATEMENT
Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the Company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent the management's opinion. While management believes such representations to be true and accurate based on information available to the Company at this time, actual results may differ materially from those described.
For more information about e-Smart(R) Technologies, please visit http://www.e-smart.com
|SOURCE e-Smart Technologies, Inc.|
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