BEIJING & PHILADELPHIA, Aug 17, 2007 (BUSINESS WIRE) -- True Product ID, Inc. ("TPID US") (OTCBB:TPDI) announced that it is relocating the Company's operating offices, senior management and operations from the US to China to help deliver contract and technology initiatives in China (the "China Initiatives"). James MacKay will rejoin the Company as its chairman of the Board. Mr. MacKay has not only spearheaded the China Initiatives from the ground level in China, he, through an affiliate, The MacKay Group Limited, has funded, and/or arranged funding for, the China Initiatives to date in excess of US$1,000,000. To deliver certain of the China Initiatives, Mr. MacKay, through The MacKay Group, has agreed to further fund the Company with a line of credit of up to US$150,000. The terms of this line of credit are detailed in the Company's upcoming Form 8-K.
TPID leadership, both in the US and China, has strategized on the best way to capitalize on the China opportunities and with that common goal in mind, former Chairman Richard Bendis has worked closely with MacKay to restructure the base of the Company's leadership to China. Bendis will voluntarily relinquish his director and officer positions in the best interest of maximizing the ability to focus the Company's primary energy where the greatest opportunities lie, which is China.
To best deliver the China Initiatives, current TPID US Board director Sergio Luz, will also assume the position of Company president, and Li Ning, the CEO of the Company's Chinese joint venture affiliate, True Product ID Technology (Beijing) Limited, will join the Company's Board. Luz and Li have worked with MacKay meeting key government, funding, industry and technology representatives in China in connection with the China Initiatives. Their CVs are set forth in the Form 8-Ks the Company has filed or will file. Previous Company Chairman, CEO, and President Richard Bendis will continue, in the capacity of a consultant, his important role in helping to oversee the Company's regulatory filings and financial reports, and will help facilitate the transition to new management.
Richard Bendis stated: "The Company's immediate need to physically be 'on the ground' in China, dictated this transfer of operational and executive control. Events are occurring at a pace that requires immediate actions and reactions to make the daily decisions that can only be effectively managed on the local level in China. As an officer, director and shareholder of the Company, I fully support this relocation as clearly being needed at this time to ensure the future growth of the Company and to increase shareholder value."
James MacKay, stated: "Richard Bendis did a wonderful job for this company and its shareholders and his contributions have helped solidify TPID's ability to thrive and grow in both the near and long term. As a shareholder I wish to thank him for all he has done."
MacKay went on to add: "It's always a good sign when members of the Board and/or company executives themselves invest directly in the companies they serve, and that is the case here. For some time now, through The MacKay Group, we have personally invested over $1,000,000 into TPID to fund the China joint venture operations to ensure the viability of the JV at a time when TPID US was unable to provide the necessary level of funding in a timely manner."
Messrs. MacKay, Luz and Li will deliver the "hands-on" oversight in China that is mandated by the present market conditions. Given MacKay's strategic connections in China, the contracts at hand in China, and the market demand for TPID's state-of-the-art technology, including its Synthetic DNA (SDNA) and KMACK software technology, MacKay, Luz, and Li will be better positioned to continue to meet with leading providers of complimentary anti-counterfeiting technology from the US and Europe.
The Company also revealed that it plans to enter into joint ventures, mergers, licensing and/or other related types of business relationships with existing and established companies already in the anti-counterfeiting/authentication industry worldwide, but who are not yet in China. TPID will cross-license its technology with those other companies, to the benefit of both. Through these arrangements, TPID will acquire the rights to other complementary solutions to better tailor customized solutions for its Chinese clientele, and will gain access to other territories worldwide without having to spend the time and expense of creating and funding entry into markets outside of China for TPID's products. The Company believes that these types of arrangements will solidify TPID's position as a bridge between the East and the West in this industry and expand the Company's reach without the financial burdens customarily associated with entering new markets.
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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 about True Product ID, Inc., go to http://www.tpid.net. For more information about True Product ID Technology (Beijing) Limited, go to http://www.trueproductid.com/.Posts: 8 | Registered: Jul 2007
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BEIJING & PHILADELPHIA, Aug 21, 2007 (BUSINESS WIRE) -- True Product ID, Inc. ("TPID US") (OTCBB:TPDI) announced that it has been selected as one of the anti-counterfeiting technologies employed during the most prestigious women's soccer event in the world, the 2007 FIFA Women's World Cup. The 2007 World Cup will take place in China from September 10-20, 2007.
The Company partnered with leading anti-counterfeiting provider Amco Plastic Materials Inc./AMCO International, Inc. ("AMCO") of Farmingdale, New York to co-develop and deliver authentication solutions for the 2007 FIFA Women's World Cup, which is considered to be the prelude to the 2008 Beijing Olympics.
More than 1 million World Cup tickets have been printed with TPID-AMCO's anti-counterfeiting technology. TPID and AMCO have also developed a state of the art anti-counterfeiting ticket reading device, which will be used at venue entrances. AMCO has developed state of the art ticket reading devices used at some of the most prominent events in the United States, where, like the Women's World Cup, the highest security is paramount.
New TPID President Sergio Luz stated: "In partnership with AMCO's president Gary Metzger, The MacKay Group and TPID have worked and continue to work closely with Chinese sports agencies and organizations to provide authentication solutions for major sports events in China. We see the 2007 FIFA Women's Cup as the steppingstone into this critical market and to building a long-term relationship with Chinese sports agencies and organizations, which TPID, AMCO, and the Chinese all believe will translate into the Company acquiring larger, more profitable opportunities such as the 2008 Olympics."
The Women's World Cup is overseen by The Federation Internationale de Football Association (FIFA). For more information on the events go to: http://www.fifa.com/u20worldcup/index.html
About True Product ID
True Product ID, Inc. produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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 about True Product ID, go to http://www.tpid.net. For more information about True Product ID Technology (Beijing) Limited, go to http://www.trueproductid.com/.
About The MacKay Group Limited
The MacKay Group is a Hong Kong corporation, which has built strategic relationships with government, industry, funding, technology, and other representatives in Mainland China, Hong Kong, Macau, the Philippines, Japan, and other parts of Asia; Europe; Africa; the Middle East; Latin America; and North America, and utilizes those strategic relationships to, among other things, help develop, market, distribute, manufacture, and otherwise commercialize advanced technology in global markets. James MacKay is the chairman of The MacKay Group.
About AMCO
Amco Plastic Materials Inc./Amco International, Inc. of Farmingdale New York, currently provides security solutions for worldwide use and deals with well known public and private organizations. Founded in 1955, AMCO distributes and produces, custom compounds, dry color, additives and master-batches and anti-counterfeiting taggants and technologies. AMCO offers unique anti-counterfeiting taggants and taggant combination technology, including additives and master-batches for the system and the scanner system and software, to make finished products difficult, if not impossible, to counterfeit.
Posts: 8 | Registered: Jul 2007
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BEIJING & PHILADELPHIA, Aug 27, 2007 (BUSINESS WIRE) -- True Product ID, Inc. (OTCBB:TPDI) announced that the National Quality Inspection Department of the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") (www.aqsiq.gov.cn) has issued a circular that TPID's technology will be used in a 5-year AQSIQ plan to protect against the illegal production, circulation, and use of certain "special equipment" (the "Plan"). Among the "special equipment" referenced in the circular are liquefied gas tanks, oxygen tanks, and other pressurized containers and pipes, elevators, lift machinery; and equipment at large recreational facilities and automobile plants. The circular provides for the involvement of TPID's Chinese joint venture affiliate company, True Product ID Technology (Beijing) Limited ("TPID Beijing") in the development of national special equipment security identification standards (the "standards"), a special equipment identification information security management system (the "management system"), and a special equipment security/safety logo (the "logo"). Aspects of AQSIQ's Plan will be implemented in phases at the national, provincial, and municipal levels, starting with certain localities and types of special equipment. AQSIQ entered into a project cooperation agreement with TPID Beijing to provide technical support in connection with the promotion, further development, and implementation of the standards and other aspects of AQSIQ's Plan. AQSIQ also issued a notice and written materials to Chinese authorities about the Standards. TPID expects to post a copy of and further information about the circular, cooperation agreement, notice, and written materials on TPID websites. More specific details about AQSIQ's Plan and TPID Beijing's involvement therein will come as TPID Beijing works with AQSIQ to implement the Plan.
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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 about True Product ID, Inc., go to http://www.tpid.net. For more information about True Product ID Technology (Beijing) Limited, go to http://www.trueproductid.com/.Posts: 8 | Registered: Jul 2007
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BEIJING & PHILADELPHIA, Sep 04, 2007 (BUSINESS WIRE) -- True Product ID, Inc. (OTCBB: TPDI) announced that the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") (www.aqsiq.gov.cn) has agreed to supplementary provisions to its project cooperation agreement with TPID's Chinese joint venture affiliate company, True Product ID Technology (Beijing) Limited ("TPID Beijing"), which establish details and a target pricing structure regarding the use of TPID's S-DNA and KMACK technologies for Chinese liquefied natural gas ("LNG") bottles, tanks, and other containers.
AQSIQ's supplementary provisions require TPID Beijing to provide a special equipment security/safety logo, and to implement a special equipment identification security management system, for LNG containers throughout China. Based on official Chinese records, AQSIQ projects that there are currently a total of 130 million LNG tanks in China and that total is expected to increase by approximately 10 percent every year. AQSIQ wants TPID Beijing to complete marking of the LNG containers nationwide within 3 years, with marking to begin immediately in select areas.
AQSIQ's supplementary provisions further require TPID Beijing to provide certain types of its proprietary S-DNA readers/scanners to approximately 25,000 LNG gas stations and 15,000 manufacturers throughout China and to integrate the stations and manufacturers into a special equipment identification security management system.
In its supplementary provisions, AQSIQ sets out certain "target" prices for TPID Beijing to provide (1) a special equipment identification security/safety logo for 130 million LNG tanks (a price for marking each LNG tank); (2) 50,000 of a certain type of its proprietary S-DNA readers/scanners; (3) 15,000 of another type of its proprietary S-DNA reader/scanner; and (4) an information management system for 50,000 platforms/ports for LNG gas stations, special equipment manufacturers and other entities in China.
Under the target prices set forth in its supplementary provisions, AQSIQ projects the total gross revenue over a 3-year period for the use of TPID's technology for LNG containers to be approximately 20.13 Billion Chinese Yuan, which according to www.xe.com, equates to approximately 2.67 Billion U.S. Dollars as of August 30, 2007. TPID has not yet completed its analysis as to what would be net revenues. TPID anticipates it will be in a better position to more fully ascertain the expenses needed to implement this LNG tank phase of the AQSIQ project cooperation agreement as more details are gathered during TPID Beijing's continued coordination and consultation with AQSIQ, provincial and local authorities, LNG gas stations, and special equipment manufacturers.
TPID expects to post a copy of and further information about the supplementary provisions on TPID websites. More specific details about the supplementary provisions will come as TPID Beijing works with AQSIQ to implement them.
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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 about True Product ID, Inc., go to http://www.tpid.net. For more information about True Product ID Technology (Beijing) Limited, go to http://www.trueproductid.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.
posted
Nice to see some things happening again with this company. Wonder if the pps will have any reflection of this?
Posts: 942 | From: Wisconsin | Registered: Jan 2006
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-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;) Posts: 936 | From: Virginia | Registered: Aug 2007
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Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
Effective November 07, 2007, the board of directors appointed William R. Dunavant as the Company’s Chief Executive Officer. James MacKay also voluntarily relinquished his position as Chairman of the Board to Mr. Dunavant who was appointed the new Chairman of the Board.
Item 8.01 Other Events
On November 07, 2007 the Board of Directors of the Company voted to effect a 30:1 reverse split of the Company’s common stock. This action was then authorized and approved by the holders of a majority of the outstanding common shares of True Product ID Inc. authorized to vote. The Board then passed a resolution to effectuate the rerse split immediately, in accordance with all applicable rules and regulations pertaining thereto.
The corporate actions taken were authorized pursuant to shareholders written consent in accordance with the provisions set forth in Section 228 of the General Corporation Law of the State of Delaware and Article I, Section 7 of the Company’s bylaws.
The Board also authorized the change in the Corporation’s Principal Executive Offices to 1615 Walnut Street, 3rd Floor, Philadelphia, PA 19103. (215) 972-1601.
On November 07, 2007 the Board of Directors of the Company has also voted to retain Rene Hamouth (Hamouth Family Trust trustee) to consult and assist the Company in market matters. The Company has authorized the issuance of three million (3,000,000) common shares post reverse split of the Company to the Hamouth Family Trust as consideration for consulting the Company regarding market matters.
Did not see this posted on the OB site. Did it happen?
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Need to see if they followed the rules for this split. If it was effected.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: Need to see if they followed the rules for this split. If it was effected.
Didn't happen yet. Keeping an eye on it though.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
So obviously we need to look after eachother. WHICHWAY... you may have a good pick here but any RS shows its face in the ob/pk world you gotta blink a couple times and see what's about to happen. JMO.
So many other sites don't do their homework. You have a heads up here. JMO but i would wait till after the split on this one.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
With the RS the pps would be about 2 bucks. 3MM shares POST SPLIT is a pretty good payday even if it drops.
TMAN...
On November 07, 2007 the Board of Directors of the Company has also voted to retain Rene Hamouth (Hamouth Family Trust trustee) to consult and assist the Company in market matters. The Company has authorized the issuance of three million (3,000,000) common shares post reverse split of the Company to the Hamouth Family Trust as consideration for consulting the Company regarding market matters.
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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posted
No doubt T-man. That's a lot of shares hitting the sell button at once imo. If that's the way it goes.
Posts: 7800 | From: Virginia | Registered: May 2006
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Part of the reason i think this one has had a downward trend is that there are shares that are being converted from the dividend from ssty and being sold off.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
There are 2 web casts on the TPDI website but I am not able to hear them.Has anybody listened to them and if so,what was the content? TIA
Posts: 6 | From: switzerland | Registered: Dec 2005
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quote:Originally posted by dale1953: There are 2 web casts on the TPDI website but I am not able to hear them.Has anybody listened to them and if so,what was the content? TIA
I was able to listen using Windows Media Player. Part 1 was just Jason Thai (spelling??)shareholder, promoting and showing his support and part 2 was Roger explaining for the split. I can't remember much else about it off the top of my head. http://www.tpid.net./images/James.wmv
Good Luck I do not own nor do I support this stock.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Entry into a Material Definitive Agreement, Change in Directors or Principa
Item 1.01. Entry into a Material Definitive Agreement On March 4, 2008, we entered into a new Employment Agreement (the "Employment Agreement") with Wilson W. Hendricks, III.
Under the terms of the Employment Agreement, Mr. Hendricks will serve as our chief executive officer ("CEO") for a period of three years. As CEO, Mr. Hendricks will report solely and directly to our Board of Directors. During his term of employment, Mr. Hendricks will earn a base salary of no less than $240,000 per year. In addition to base salary, Mr. Hendricks will be entitled to receive 500,000 restricted shares of the Registrant's common stock immediately upon completion of the Registrant's 100 to 1 reverse split. Mr. Hendricks will also have an opportunity to receive an additional 500,000 restricted shares of the Registrant's common stock at the end of the first year of his contract, based on his performance of certain performance criteria which the Company's Compensation Committee will determine after execution of the contract.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As set forth in the Registrant's Form 8-K filed February 19, 2008, the official Chinese documents known as the "Red Hat" documents have been filed regarding the new joint venture between the Registrant and two organizations affiliated with the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") to roll out Registrant's Chinese National Gas Tank Contract and Project with AQSIQ.
Given these developments and the impending roll out of Registrant's Chinese National Gas Tank Contract and Project with AQSIQ, on March 4, 2008, the board of directors (the "Board") of the Registrant approved the appointment of the current chief operating officer of the Registrant, Wilson Hendricks III, a past Director, Asia Pacific Region, for KPMG Consulting's Communications and Content Practice, as the Registrant's new chief executive officer ("CEO"). The Board also approved the appointment of Mr. Hendricks as a member of the Registrant's Board.
Prior to joining the Registrant as its chief operating officer in November 2007, Mr. Hendricks was a Director with BearingPoint, Inc. (formerly KPMG Consulting), where he was a member of BearingPoint's Communications and Content practice. Mr. Hendricks was a founding member of KPMG Consulting's wireless group. As a Director with KPMG Consulting's Asia Pacific Region, Mr. Hendricks was responsible for starting the KPMG Consulting's Asia Pacific Region's communications practice. Mr. Hendricks most recent BearingPoint assignment was as Operations Director for the Department of Homeland Security/Transportation Security Authorities TWIC Program. Mr. Hendricks has extensively resided and worked in China and Hong Kong.
Believing that the Company's interests in the roll-out of its Chinese National Gas Tank Contract with AQSIQ are best served by an international roll-out/implementation expert such as Hendricks now taking over the CEO position of the Registrant, the Registrant's current CEO and
chairman of the Registrant's board of directors, William R. Dunavant, has voluntarily agreed to step down as CEO and as a director of the Registrant, and will assume the position of Managing Director of Global Strategic Initiatives of the Registrant.
Posts: 6410 | Registered: Jul 2006
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posted
If the "value" of this stock held current levels, at 100 for 1 it would be $8.10 pps so our new CEO would get $4,050,000. Wow, how do I get in line for the net CEO opening!
Posts: 942 | From: Wisconsin | Registered: Jan 2006
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