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WESTMINSTER, Colo., Jun 13, 2005 (PRIMEZONE via COMTEX) -- World Am, Inc. (WDAM), whose wholly owned subsidiary, Isotec, Inc., conceives, develops and markets state-of-the-art security systems, announces execution of a definitive agreement for the acquisition of Senz-It, Inc. The transaction will be accomplished by a share exchange agreement.
Senz-It, Inc. holds the rights to develop and commercially market patent protected innovations developed by the State University of New York at Buffalo. SUNY Buffalo has already patented two major area patents related to sensor technology and has a total of 12 pending, provisional and/or follow on patents that cover these innovations.
Senz-It envisions products that will enable an entirely new approach to sensing, process monitoring, homeland security and environmental scanning applications. The technology is significantly less expensive, less intrusive, more compact and more economical in terms of capital outlay and operations than current approaches. This company's products are an example of the rapidly developing field of "electronic noses" in which combinations of individual sensors, joined to sophisticated computer analyses, can identify patterns of molecules present in air or liquid environments. The technology exceeds the capacities of single-purpose sensors. These are smart technologies that can "learn" and become more accurate in their operating environment.
Senz-It initially plans to concentrate on developing sensor applications for three vertical markets: Homeland Security, Indoor Air Quality and Food Processing.
World Am CEO James H. Alexander said, "We know this has been a long time in coming, and want to express our appreciation to all those who have worked so hard for this first step on the road to helping World Am realize the potential we all know exists."
As part of the transaction, World Am will employ Select University Technologies as a venture acceleration manager. More information will be made available about the new venture in the near future.
For information on how to order Isotec products, please call Isotec at 303-452-0022.
Isotec Inc. is best known in the security industry for its Transparent Security(tm) systems. All other company or product names are registered trademarks or trademarks of their respective owners. Additional information on the company is available at www.world-am.com or www.isotecinc.com .
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
SOURCE: World-Am, Inc.
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