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Universal Detection Technology's CEO Purchases 100,000,000 Shares of Common Stock of Universal Detection Technology
LOS ANGELES, CA, Feb 13, 2007 (MARKET WIRE via COMTEX) -- Universal Detection Technology (www.udetection.com) (OTCBB: UDTT), a developer of early-warning monitoring technologies to protect people from bioterrorism and a provider of counter-terrorism products and services, announced today that its CEO, Mr. Jacques Tizabi has acquired 100,000,000 common shares at a price of $.006 per share. The shares were acquired in exchange for the forgiveness of $600,000.00 in debt owed by the company to Mr. Tizabi. The share price represents a premium to the closing price of the shares at the end of last week. "This will improve the company's balance sheet significantly and also add to management's ownership stake in the company. It also demonstrates my continued commitment to the company's future," said Jacques Tizabi, CEO of Universal Detection Technology.
In a recent piece, NBC News covered Universal Detection Technology's automatic anthrax detection system, BSM-2000. That piece can be viewed at http://www.udetection.com/pressroom-video-NBC1006.htm UDTT has sold two units of BSM-2000 to the government of England and it has recently sold anthrax test kits to the US Army. The Company expects to continue marketing its counter-terrorism technologies and products globally.
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism detection devices. The Company, on its own and with development partners, is positioned to capitalize on opportunities related to Homeland Security. For example, the Company, in cooperation with NASA, has developed a bioterror 'smoke' detector that detects certain biohazard substances. For more information, please visit http://www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: Jacques Tizabi 310-248-3655SOURCE: Universal Detection Technology
Posts: 235 | Registered: May 2006
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so they now have about 420 million shares out with an A/S of 480, will they raise the A/S soon?
Posts: 2503 | From: connecticut | Registered: Mar 2005
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I bought in at .0068 because of the chart. I expect it will go to at least.008
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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crap should have stayed in but 300$ bucks is better than a poke in the eye!
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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several pennies, but I am a bit skittish about getting back into this after such a run up - I like my money too much
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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Made a little profit on a small sell today. Don't want to get rid of too much of this one too soon....
Posts: 741 | From: North Carolina | Registered: Feb 2006
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be careful, these pennies are unpredeictable as we all know. there are a thousand trains a day leavin the station
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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Anyone have a clue as to why this stock has been so active these last few days??
Posts: 741 | From: North Carolina | Registered: Feb 2006
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