Introduces new corporate product offerings and international distribution of smartTOUCH(TM) consumer products into South Africa and neighboring
JERICHO, N.Y., Aug. 18 /PRNewswire-FirstCall/ -- bioMETRX Inc., (OTC Bulletin Board: BMRX), today announced that the assets of the former wholly owned subsidiary of Sequiam Corporation have been transferred to bioMETRX, S.A. at the request of their secured creditor, Biometric Investors LLC (BIL). bioMETRX paid no additional consideration to BIL for these assets.
Sequiam Biometrics (Pty) Ltd., now bioMETRX, S.A., is a leading provider of world class biometric software and hardware products, offering Time and Attendance and Access Control solutions to major Government and Commercial organizations. Key customers currently utilizing the company's products include the Bank of Uganda, Stellenbosch University, South African Revenue and Parliament, Shell Oil Company, Ford Motor Company, and General Motors.
bioMETRX S.A.'s flagship technology offerings include BioTime, an easy-to-use computerized access control, attendance and recording tool; and BioTools which simplifies the process of adding failsafe biometric security to any computer program -- in minutes instead of weeks. The assets have produced in excess of $1,300,000USD in revenue, 2007. The company expects that such revenues will triple through 2009.
"The company has spent several years developing this comprehensive technology suite and we are busy designing a plan with their management to increase sales in existing markets, as well as offering these solutions here in the US", stated Lorraine Yarde, COO at bioMETRX. "While consumer biometrics is starting to take hold, commercial biometric applications have been around for numerous years and enjoys high adaptation rates among corporations", commented Ms. Yarde.
"We are presently re-branding the bioMETRX S.A. products and will be launching a new smartTOUCH branded "EnterpriseID(TM)" product line into South Africa in the near future. We are also in discussions with potential strategic partners with existing presence and widespread distribution in South Africa, to further expand our distribution and support capabilities", added Ms. Yarde. To learn more about bioMETRX S.A.'s products, please visit http://www.biometrics.co.za.
"We are excited to work with bioMETRX and their seasoned management team", commented Shane Griffin, Managing Director of bioMETRX S.A. "bioMETRX brings a great deal of industry knowledge and experience to our group. South Africa is a growing market with a huge demand for cost efficient, convenient security devices. We are also very excited to include smartTOUCH consumer biometric products into our portfolio of offerings to address increased market needs here in this area of the world".
As the global leader in consumer biometric product engineering, development and sales, bioMETRX's technology has proven to be the most dependable and robust consumer biometric platform available today. Its smartTOUCH product line is just starting to make its way into the marketplace, and the company has several new and exciting products that are expected to hit the shelves later this year.
About bioMETRX, Inc.
bioMETRX, Inc. designs, develops and markets biometrics-based products to the consumer market under the common brand name -- smartTOUCH.
For more information on bioMETRX and/or the company's smartTOUCH line of products, visit the Company website at http://www.biometrx.net.
Safe Harbor Statement: This release may contain certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release with respect to bioMETRX's business, financial condition or results of operations, as well as matters of timing and the prospective terms of any transaction described are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond bioMETRX's control with respect to market acceptance of their technology and/or products, whether financing will be available, the effect of the application of acquisition accounting policies as well as certain other risk factors which are and may be detailed from time to time in bioMETRX's filings with the Securities and Exchange Commission.
|SOURCE bioMETRX Inc.|
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