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Author Topic: IQBM ===> IQBX , 4 to 1 Reverse Split
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2004-12-02 19:23:05
IQ Biometrix Announces Effectiveness of Reverse Stock Split and New Stock Symbol

Business Editors / High-Tech Writers

FREMONT, Calif.--(BUSINESS WIRE)--Dec. 2, 2004--
IQ Biometrix, Inc. (OTCBB:IQBM) (OTCBB:IQBX), a
worldwide provider of integrated law enforcement and security
solutions, announced today that the 1-for-4 reverse split of its
outstanding common stock was effective on Monday, November 29, 2004.
IQ Biometrix's common stock will begin trading on a post-split,
consolidated basis when the market opens on Friday, December 3, 2004.
Due to the reverse split, which is part of the company's
completion of its merger with Wherify Wireless, Inc., the company's
stock trading symbol on the Over-The-Counter Bulletin Board will be
changed from IQBM to IQBX.
No fractional shares of common stock will be issued in connection
with the reverse stock split. In instances where the reverse stock
split would result in a stockholder becoming the holder of a
fractional interest in a share of common stock, the number of shares
held by such stockholder will be rounded down to the nearest whole
share, and the stockholder will receive a cash payment equal to the
product of (i) the closing sales price of the common stock on November
29, 2004, the effective date of the reverse stock split, multiplied by
(ii) the fractional interest.
The company's transfer agent, American Stock Transfer and Trust
Company, will be mailing out appropriate documentation to the
Company's stockholders regarding the exchange of certificates for
common stock.

About IQ Biometrix, Inc.

IQ Biometrix, Inc. (IQBM) provides law enforcement and security
technology solutions for government and private industry. IQ
Biometrix, an innovative California-based company is a leading
provider of facial composite technology for law enforcement agencies
in North America. FACES(TM) is currently used by thousands of policing
agencies worldwide, including the Central Intelligence Agency and the
Federal Bureau of Investigation. IQBM is currently developing new
applications based on this foundation technology tailored to meet the
needs of national, business and personal security. Its solutions
practice is focused on integrating IQBM and partner technologies to
provide customized responses to client needs. Further information
about IQBM can be found at www.iqbiometrix.com.

About Wherify Wireless, Inc.

Wherify Wireless, Inc. is a privately-held developer of patented
wireless location products and services for child safety, parental
supervision, personal protection, Alzheimer and memory loss,
supervision, law enforcement, security, animal identification, and
property asset tracking. The company's proprietary integration of the
U.S. government's global positioning system (GPS), Wherify patented
back-end location service engine, and wireless communication
technologies will enable customers to obtain real-time location
information on individuals and property directly through the Internet
or any phone. Founded in March 1998, Wherify Wireless is located in
Redwood Shores, Calif. For more information, or to purchase Wherify
products, visit the company's website at www.wherify.com.

KEYWORD: NORTH AMERICA CALIFORNIA UNITED STATES
INDUSTRY KEYWORD: TECHNOLOGY GOVERNMENT NETWORKS SOFTWARE TELECOMMUNICATIONS MERGER/ACQUISITION
SOURCE: IQ Biometrix, Inc.


CONTACT INFORMATION:
IQ Biometrix, Inc.
Mike Walsh, 888-321-5553
or
Liviakis Financial Communications
John Liviakis, 415-389-4670
or
Wherify Wireless, Inc.
Steve Heninger, 650-551-5251


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This looks like a positive R/S for a change
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