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SSTY Announces Acquisition: Globe Staff Consulting, a Wholly Owned Subsidiary of SSTY, to be Merged Into PowerSource Corp.
2006-04-20 13:37 ET - News Release
Also News Release (U-ONTV) INTV INC Also News Release (U-PSRE) POWERSOURCE CP
BEIJING and PHILADELPHIA, April 20 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation today announced that it has acquired the controlling interest in a company, PowerSource Corporation , and has vended its wholly owned subsidiary, Globe Staff Consulting, into the acquired company, which shall be renamed Globe Staff Consulting Corporation (GSCC).
SSTY received approximately ninety-three percent (93%) of the shares PSRE/GSCC in exchange for cash and other consideration.
SSTY and GSCC shall enter into a Master Licensing Agreement wherein SSTY shall retain (on behalf of itself, its assigns and /or designees) the ownership of the technology in GSCC (including all enhancements and revisions thereto) and certain exclusive and non-exclusive rights in various territories but shall grant GSCC a Master License from SSTY in the territories and markets not specifically reserved to SSTY, under the terms and conditions to be contained therein. GSCC shall have certain exclusive and non-exclusive rights as will be set forth in said Master License. In return for the Master License, GSCC shall pay SSTY a royalty and a monthly fee in the amount and according to the terms and conditions set forth in said Master License agreement.
SSTY will also enter into a Services Agreement between True Product ID, Inc. (TPID) and GSCC whereby, in return for agreed upon consideration, TPID performs certain administrative and operational duties and functions and performs/assumes certain obligations of GSCC in order to manage and control the day-to-day worldwide functions of GSCC. GSCC may also grant TPID certain rights as may be specified in said Services Agreement.
SSTY and GSCC intend to file important information related to the spin- off, including this release, with the Securities and Exchange Commission on Form 8-K.
"This transaction is similar to the template we utilized with the TPID/ONTV license (that is, a monthly minimum will be paid to SSTY) but it differs in that SSTY shall retain a portion (or possibly all) of the shares itself. If permissible, the company intends to deliver an as of yet undetermined portion of the shares in the public company to SSTY's then- present shareholder base," said Michael Cimino, SSTY President, although he cautioned that no specific plans have been decided at this time and that the shares, if any, which may be issued to its then-current shareholders, will be restricted. The company intends to effectuate this potential partial dividend of the acquired shares only after it receives an Opinion of Counsel that the partial dividend transaction is in full compliance with federal securities laws. "As with the TPID/ONTV arrangement this will also provide a potential source of regular income to SSTY," Cimino added.
Regarding the ONTV/TPID dividend, the company added that the company attorneys will shortly be delivering a letter of instructions to the transfer agent to be delivered to shareholders which will also include instructions to the shareholders from the transfer agent regarding the implementation procedures. More details will be released prior to the distribution date on the company's website. The Company's expectation is that the NASD will declare an ex-dividend date of April 25, 2006, as requested by the Company.
About Sure Trace Security Corporation
Sure Trace produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company intends to deliver turnkey solutions for governments, armed forces, and industry, through its own proprietary technology and through aggregating the technology, products, and services of third parties via licensing agreements and/or joint ventures. For more information go to: http://www.suretrace.com.
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that our products may not achieve customer acceptance or perform as intended, that we may be unable to obtain necessary financing to continue operations and development, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and Sure Trace undertakes no obligation to update such statements. In August 2005, the common stock of Sure Trace was suspended from trading by the Securities and Exchange Commission, but the suspension ended in accordance with the securities laws after ten days. Management of Sure Trace is currently working with the broker-dealer community and regulators to permit quotations to be entered as soon as possible. More information will be provided to the public when circumstances warrant.
Contact: Michael Cimino, President, 215-972-6999 or michaelc*suretrace.com
Sure Trace Security Corporation
CONTACT: Michael Cimino, President, Sure Trace Security, +1-215-972-6999 or michaelc*suretrace.com
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Guys, just a little while longer and we will have out ONTV shares. I know we are all scratching our heads with these jumps from companies that SSTY is buying, but if it's happening to these companies then just imagine what will happen to SSTY when it gets off the greys.
ONTV settled up 500% the day it was announced that SSTY had purchased them and today PSRE settled up 1500%. If SSTY does the same on the day that it announces it's off the greys, were looking at .01 to .03 on the first day. Not bad in my book.
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You can buy or sell online with Charles Schwab and Choice Trade. I'm not sure about other brokerage houses.
Now, with the 93% acquisition of The PowerSource Corporation, "PSRE", which will later be renamed, "Globe Staff Consulting Corporation, "GSCC", I'm not sure what to make of all this. SSTY was so simple before all these acquisitions. I wonder if this is yet another plan for SSTY to get off the Grey Market now planning to use GSCC to replace SSTY permenantly since GSCC is currently in the Pink Sheets. All I know is, we WILL all prosper with the "rapid" progress Sure Trace is currently making providing that the shareholders such as "us" can wait this thing out.
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
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I believe SSTY is the biggest & "bestest" investment anyone can put their money into! Eventhough they're currently in the "Grey Market", penny stocks have got to start somewhere. Sure Trace Security seems to be going in the right direction with all the current progress they're making with several joint venture partners in China, in France, etc. and current acquisitions of ONTV and PSRE. Moving at such a fast pace, SSTY is worth hanging onto, because I believe that SSTY WILL be the next eBay, Yahoo, Nike, blah blah blah..... I don't care how long it takes. I'm just proud to be a SSTY shareholder of 10 million shares!
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i dont think they'll replace SureTrace with GlobeStaff. because GSC & TPiD both have to pay suretrace royalties & fees. SSTY will have it's day, just sit back and get a nice summer tan and plan your winter getaway to the Amazon or where ever you want to be going...
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This stock is funny to watch .001 to .005. Has there been any mention on restrictions on the dividend, i missed that post if there was one.
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quote:Originally posted by IWISHIHAD: This stock is funny to watch .001 to .005. Has there been any mention on restrictions on the dividend, i missed that post if there was one.
The divi's are restricted, and it is my understanding they can't be sold for a 1 year
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0.005 was really nice to see today, fake or not! Haven't seen that probably since last December or January, I think. I'm not worried about a thing with SSTY. 10 million shares of this company will lead me and the rest of you for a extremely prosperous and happy future!
About teaching elementary school children..... After substitute teaching for the nearly a month at my daughter's elementary school here in Hollywood, has somewhat made me want to go back to college and getting my teaching credentials. This is the first time I've ever taught an entire class in my life for this long and I find it very rewarding teaching these young kids and it makes me feel great "giving back" to the people of tomorrow's future.
If you haven't seen this movie called "Stand And Deliver", starring James Edward Olmos, rent it and watch it. I think that movie has motivated me to teach just like James Edward Olmos did in that movie.
Anyway, back to SSTY..... I hope the Big Boss, J. MacKay will hopefully release the financials of Sure Trace soon. We've been waiting since January for this info and hopefully, SSTY can get out of the "Greys" and onto something else. With so much past and current progress they're making, I won't find it surprising that SSTY will get out of the 0.001 to 0.004 PPS price range and start moving to the 0.01's and far above that very soon. It's only April. SSTY for 2006 is the title of this thread and I'm willing to bet that by the end of this year, we will all be partying at my brand new beach house in MIAMI, FLORIDA!!! Drinks are ALL ON ME!
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It looks very positive that it is getting into the five range. But I don't think that it will be long at all before they report there financials then the pinks and then maybe the NYSE or the NASD. Like DWE was saying the way they are lining thing's up and buying out other companies I really don't think that it will be long at all. The only concern that I have is I hope that they don't grow too fast to soon because there is a posibility of stretching themselves out too soon. But I do really like the growth. We are in this for the long haul. GO SSTY GO
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SSTY going to the NASDAQ and NYSE board? May be a long way to go for that BUT that's how companies need to start off, whether Greys, Pinks, OTCBB, I don't care... SSTY being listed on the Pinks or OTCBB will be fine for now. But imagine that day when Sure Trace will be listed onto the NASDAQ or NYSE! Or even being listed on the Forbes 500 list would be nice too! I smell that coming, not anytime soon but later in the years to come..... I will ALWAYS hold at least 2 million shares, or no less than 1 million of SSTY for the future should ANYTHING as huge as being listed on the NASDAQ or NYSE should ever happen.
SSTY is BIG and CRAZY and WILL take over the world one day when it's ready to do so!!! (Kinda like Bill Gates' Microsoft Corp., MSFT)!!!
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
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