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Newsroom - Clients - IDTA
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
IDenta Corp.
CEO of International Drug & Explosives Detection Firm IDenta Issues Statement Admonishing Speculators for Damaging the Company's Reputation
JERUSALEM--(MARKET WIRE)--Jul 18, 2008 -- IDenta Corp. (Other OTC:IDTA.PK - News) -- The CEO of IDenta Corp. today issued a comprehensive statement concerning recent unauthorized promotional activities it believes are being conducted by a small number of financial agencies and short-term stock speculators. The company believes that these actions have both damaged its reputation and unrightfully depreciated the value of the company's stock. In the statement IDenta reiterated that sales of the company's products are steadily increasing (since beginning of 2007), that numerous new products are in development (precursors), that the company remains and will continue to be financially strong and that its worldwide partnerships are fully committed to the long-term success of IDenta Corp. (All of the partnership companies have and continue to invest substantial funds in marketing).
Today's statement reads:
"To Our Valued Long-Term Shareholders:
It is increasingly apparent that despite IDenta's substantial progress since the beginning of 2008, there are some short-term stock speculators and unfortunately specific financial agencies who are determined to undermine the price of IDTA common stock. Their actions are without merit or justification other than for the sole purpose of short-term profiteering at the expense of damaging the company's reputation and manipulating the long-term investments of our loyal shareholders.
We have identified the key businesses and investors involved in these deliberate actions against IDenta Corp. and its long-term shareholders, and believe that some of their actions may border on being illegal activity. We believe that they are actually speculating that IDenta is, as we represent, a company that has a bright and prosperous future, but that they are collaborating to undermine the share price in order to increase their own holdings at the expense of loyal shareholders.
IDenta is a financially strong, balanced and secure company with revenues (in hundreds of thousands of dollars per year but still not in millions of dollars as we expected to have already, but with the continuing increase in sales we will be able to reach it in a reasonable time) and assets (only in the last 18 months we have invested in new machines, parts, products, plant, etc., several hundreds of thousand dollars) that fully support a much higher share price than is now being reflected in the marketplace. The company's global sales continue to expand because the war on drugs, terrorists and criminals continues to increase, not decrease. There is substantial demand for all elements of our product line including IDenta Stinger and Confirm Drug Detectors, IDenta Alert Explosive Detectors, IDenta's new precursor detectors, and our unique Bullet Hole Test Kits (BTK). IDenta Corp. and its affiliate partners and distributors continue to be highly accepted and requested in market places around the globe. Sales of all product lines are increasing daily.
No outside funding has been necessary to expand our production capabilities in order to deliver increasing product orders on time, or to fund the company's R&D huge programs to keep up with numerous requests to develop new detection products (see: http://biz.yahoo.com/bw/080616/20080616005950.html?.v=1). These new patents and expanded manufacturing facilities have greatly added monetary value to the company's assets and further strengthened the company's balance sheet. IDenta Corp. is a fiscally sound and well-managed company. We have delayed releasing any partial financial statements until the 2008 year is complete with sales figures from all of our affiliates so that all information will correctly reflect the complete and timely financial picture of IDTA without any deficiencies.
Large agencies of the federal government in the U.S. as well as international agencies, most notably the recent presentation in Paris to The International Narcotics Control Board (INCB) of the United Nations, recognize IDenta's unique product characteristics and research & development capabilities. It is a strength we have that no other company in the world has. We anticipate that these and future presentations will result in further extending our marketing base and deliver significant product orders to governments around the world.
At present IDenta Corp., along with our U.S.-based partners, Jant Pharmacal-Accutest, are in negotiations with a very large American manufacturing company to use both our explosive and drug detectors as confirmation devices for the electronic detection equipment they manufacture. All such electronic devices are very expensive and record a high number of false positives. IDenta's products will be used standard backup to these devices because they are inexpensive and 100% accurate (the only no-false-positives products currently on the market). Because of this success, we have agreed that Jant Pharmacal can now extend their marketing program into countries outside the United States where they have ongoing business, such as India and China.
The contractual relationships and investments made by our affiliations and distributors are all strong, positive and projected by these businesses to be very profitable. In November a joint news conference is in planning with Jant Pharmacal-Accutest to make further announcements concerning our 2009 plans for continued worldwide expansion and for the introduction of key product lines into the retail marketplace.
If the unfortunate activities of these few self-serving parties continue, IDenta is prepared to initiate any and all necessary actions, including legal investigation, in order to restore fair market value to the company and reasonable stability to its stock share price.
We encourage interested parties to review the company's complete record of progress by visiting http://www.identa.biz/pressrelease.asp, and we believe that it is an excellent time for long-term investors to evaluate taking advantage of this temporary fluctuation in the company's stock price.
ABOUT IDENTA
Since 2003, IDenta Corporation has become recognized as a worldwide leader in the development of proprietary on-site drug, drug precursor and explosive detection kits. IDenta develops, manufactures and distributes products for the both professional and civil markets which consistently pass the highest qualifications and testing procedures of law enforcement and security agencies around the world. Information concerning IDenta's entire product line may be found at www.IDenta.biz
DISCLAIMER
Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements" that are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.
Yaacov Shoham
IDenta Corp.
CEO
Tel: +972-52-6554487
fpi@drugsdetector.com
http://www.identa.biz
For information about the Accutest® - IDenta products in the US, please contact:
Mr. Eyal Golan
COO
JANT PHARMACAL CORPORATION
16255 Ventura Blvd. #505
Encino, CA 91436
Toll Free: 800-676-5565
http://www.accutest.net
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About IDenta Corp.
Headquartered in Israel, IDenta is one of the
world’s leading developers of point-of-care test kits
for illicit drugs and explosives, and they are
believed to be the only company in the world with a
fully-developed R&D department devoted to this
forensic industry.
To link to this corporate profile in our members area click here (You must be a registered member to see profile).
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