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:5/18/2017)... ... May 17, 2017 , ... NDA Partners Chairman Carl Peck, MD , ... Advantar Laboratories and President of Pharmaceutical Development Business Unit of Cardinal Health, has joined ... Cardinal Health, he was former Chief Operating Officer at Anaborex, Senior VP and General ...
(Date:5/18/2017)... , ... May 17, 2017 , ... ... in medical device compliance and commercialization, has just released version 9.0 of the ... into this latest version of Cockpit,” says David Cronin, CEO of Cognition. “We’re ...
(Date:5/18/2017)... ... May 17, 2017 , ... ... varying industries, including food and dairy, munitions, and pharmaceutical/biotech, recently introduced The Revolution ... ease of use. The improvement in technology comes on the heels of HOLLOWAY’s ...
(Date:5/18/2017)... ... 2017 , ... Many complicated neurological disorders appear to have ... while men are at greater risk for Parkinson’s disease. Understanding some of the ... of a research program at Worcester Polytechnic Institute (WPI) funded by a new ...
Breaking Biology Technology:
(Date:3/23/2017)... India , March 23, 2017 The report "Gesture ... Touchless Biometric), Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets, ... at a CAGR of 29.63% between 2017 and 2022. ... ... ...
(Date:3/22/2017)... 21, 2017 Vigilant Solutions , a ... enforcement agencies, announced today the appointment of retired FBI ... public safety business development. Mr. Sheridan brings ... including a focus on the aviation transportation sector, to ... position, Mr. Sheridan served as the Aviation Liaison Agent ...
(Date:3/13/2017)... Future of security: Biometric Face Matching software  ... ... Matching enables to match face pictures against each other or against large databases. ... Systems) ... the fastest software for biometric Face Matching on the market. The speed is ...
Breaking Biology News(10 mins):