Navigation Links
delSECUR CORPORATION Announces Its Dissolution; and the Distribution of Its Asset to Its Lenders and Shareholders of the Corporation
Date:4/4/2011

SOUTH BURLINGTON, Vt., April 4, 2011 /PRNewswire/ -- As previously announced on October 24th, 2009 delSECUR CORPORATION sold 100% of its Intellectual Property including the patents of its del-Id system to QTech Systems Inc. in an Asset Purchase Agreement whereby it acquired 49% of QTech's shares. Since that time and as mentioned in the Press Release on June 22, 2010, QTech's team of engineers has been working diligently on the del-Id prototype development for commercialization.

delSECUR CORPORATION intends to dissolve itself. In so doing, it will pay all its lenders, using its only asset, the QTech shares. It will then distribute all of its remaining asset, the balance of QTech shares, to delSECUR CORPORATION shareholders in the form of a "liquidating dividend" on a pro-rata basis.

After having distributed all of the assets of delSECUR, the CORPORATION will be dissolved in accordance with Nevada State Law and subject to shareholders' approval.

"QTech is currently being funded from the private sector through the issuance of Convertible Debentures. Additional Private Funding sought will assure the continued development of the del-Id technology," stated Randall McCormick, President of delSECUR. "We are in the development stage of our technology and hope to soon have a 'functioning prototype' and then to get ready for the next step, 'commercialization,'" added John Johnston, QTech's CEO and Managing Director.

delSECUR CORPORATION, a public company (Pink Sheets: DLSC) with its head office in S. Burlington, VT has been involved in the development of a unique authentication process based on abstract images of biological data collected from the fingers of living persons.  This technology was sold, under the terms of an Asset Purchase Agreement, in October 2009 to QTech Systems Inc., an Ontario company in exchange for 49% of the shares of that company. For further information on QTech visit their website www.qtechid.com.

This Press Release may contain forward-looking statements.  These forward looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements and are subject to the risks normally associated with the completion of a corporate transaction. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.


'/>"/>
SOURCE delSECUR CORPORATION
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. delSECUR CORPORATION Announces Organizational Update as QTECH SYSTEMS INC. Expands Leadership Team
2. Techne Corporation Announces Acquisition
3. Ther-Rx Corporation Commits to Take Action Regarding Makena™ Pricing
4. SARcode Corporation to Present Phase 2 Clinical Data for Dry Eye Candidate at the ARVO2011 Annual Meeting
5. United Therapeutics Corporation Completes Enrollment of FREEDOM-C(2) Trial
6. Volcano Corporation Presentation at Roth Capital Conference to be Webcast
7. Sanford Rose Associates® - Minneapolis Fills Key Management Position for the Micromedics Operation of Nordson Corporation
8. DURECT Corporation Announces Fourth Quarter and Year End 2010 Financial Results
9. China Cord Blood Corporation Reports Third Quarter and First Nine Months of Fiscal 2011 Financial Results
10. Verenium Corporation to Announce Fourth Quarter and Year-End 2010 Financial Results
11. China Cord Blood Corporation Forms Zhejiang Subsidiary
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... DIEGO , Dec. 8, 2016  Renova™ ... for congestive heart failure and type 2 diabetes, ... for a novel adeno-associated virus (AAV) vector developed ... , M.D., Ph.D., at Stanford University. The company ... its paracrine gene therapy product pipeline. ...
(Date:12/8/2016)... 8, 2016 Oxford Gene Technology ... SureSeq™ NGS panel range with the launch of the SureSeq ... study of variants in familial hypercholesterolemia (FH). The panel delivers ... on a single small panel and allows customisation by ,mix ... all exons for LDLR , P C ...
(Date:12/8/2016)... (PRWEB) , ... December 08, 2016 , ... This CAST ... approvals for biotech crops. The authors focus on the economic effects in countries that ... approval of new biotech crops and the resultant risk of low level presence (LLP) ...
(Date:12/8/2016)... SEOUL, South Korea , Dec. 8, 2016 /PRNewswire/ ... completed a $21 billion KRW (US $18.9M) Series A ... Management, Kolon Investment, G.N. Tech Venture and SNU Bio ... by Eutilex to 30.5 billion KRW (US $27.7M) since ... will help Eutilex to bolster the development and commercialization ...
Breaking Biology Technology:
(Date:11/16/2016)... 2016 Sensory Inc ., a ... for consumer electronics, and VeriTran , a ... industry, today announced a global partnership that will ... authenticate users of mobile banking and mobile payments ... software which requires no specialized biometric scanners, yet ...
(Date:11/14/2016)... Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a ... challenging operating environments, announced its results for the third ... conference call to discuss these results on November 15, ... Key Recent Accomplishments The ... Vislink Communication Systems. The purchase is expected to close ...
(Date:6/22/2016)... , June 22, 2016  The American College of Medical ... Show Executive Magazine as one of the fastest-growing trade ... 25-27 at the Bellagio in Las Vegas ... highest percentage of growth in each of the following categories: ... companies and number of attendees. The 2015 ACMG Annual Meeting ...
Breaking Biology News(10 mins):