remember, in terms of penny companies, the float here is miniscule at 20.5mln as of 2/28. '05 revenues were over 5mln, and have been increasing. Hopefully good news soon will send this flying.
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Local Company Expands for the Future; Announces Name Change
PR Newswire "US Press Releases "
SEA GIRT, N.J., March 9 /PRNewswire-FirstCall/ -- Allied Security Innovations, Inc. (Pink Sheets: ASVN) has positioned itself for a very successful future.
Recently the company changed its name from Digital Descriptor Systems, Inc. to reflect its growth and diversified interests. In addition, the company implemented a one for 500 reverse stock split that reduced the number of issued and outstanding shares from approximately 9.5 billion to approximately 20 million shares.
Composed of the original DDSI company, based here, and subsidiary CGM- Applied Security Technologies, Inc, ASI provides homeland security and proprietary criminal justice software to clients worldwide. Because of the worldwide concern about homeland security, that client base continues to grow.
"With many changes underway in our company, as well as ones we foresee, our future is quite promising," said ASI CEO Anthony Shupin. "All industries are looking for ways to make their goods and services safer and more secure. What we offer is what they need."
Shupin said ASI will continue with its dynamic vision. "We are working to expand our web presence, which will enhance our new image and allow our clients around the world easy access to product information and customer support."
Allied Security Innovations, Inc. executive headquarters remains in Sea Girt, New Jersey. Technical support for its proprietary software utilized by over 300 clients around the world is based in St. Augustine, Florida.
Its subsidiary, CGM Applied Security Technologies, Inc., based in Somerset, NJ, is a leading manufacturer and distributor of Homeland Security products, including indicative and barrier security seals, security tapes and related packaging security systems, protective security products for palletized cargo, physical security systems for tractors, trailers and containers, as well as a number of highly specialized authentication products. Additional information is available online, at www.cgmsecuritysolutions.com.
Safe Harbor Statement:
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors associated with our Company, review our SEC filings.