Applied Digital Solutions Subsidiary, Digital Angel.Net Inc,
Signs Research Agreement With Princeton University And New
Jersey Institute Of Technology
Applied Digital Chairman, Richard Sullivan, believes Digital
Angel technology could launch new era in 'location-aware'
e-commerce.
July 7, 2000
PALM BEACH, FLORIDA, JULY 7, 2000 -- Applied Digital
Solutions, Inc.(NASDAQ:ADSX) today announced that its wholly
owned subsidiary, Digital Angel.net Inc., has signed a
research agreement with Princeton University and the New
Jersey Institute of Technology. The expanded research team
will assist in the development of Digital Angel», a
miniature digital transceiver that could be used for a
variety of purposes, such as monitoring the medical
conditions of at-risk patients, commodity supply chain
management, food safety, preventing the unauthorized use of
firearms, providing a tamper-proof means of identification
for enhanced e-commerce security, locating lost or missing
individuals or pets, and tracking the location of valuable
property. It is anticipated that the tiny device - which is
intended to be bonded closely to the body or implanted just
under the skin - will be able to send and receive data and
that it will be tracked by GPS (Global Positioning System)
technology.
With the newly signed research agreement, three noted
experts in the field of wireless telecommunications and
geo-location technologies will join the Digital Angel
research team. The three scientists are: Hisashi Kobayashi,
Ph.D., of Princeton University's Department of Electrical
Engineering; and Sirin Tekinay, Ph.D., and Edip Niver,
Ph.D., both of the New Jersey Institute of Technology's
Department of Electrical and Computer Engineering. Dr. Peter
Zhou, President and Chief Scientist at Digital Angel.net
Inc., will continue to provide overall leadership of the
Digital Angel research effort. Commenting on the research
agreement, Richard J. Sullivan, Chairman and CEO of Applied
Digital Solutions, said: "We're delighted that these three
renowned experts, who are affiliated with such prestigious
institutions, will be joining our effort to develop Digital
Angel. As previously announced, our goal is to produce a
working prototype before the end of this year. We're making
enormous progress toward that goal, and I'm confident that
this expanded research team will help us meet it. We
continue to see a huge potential market for Digital Angel,
and we're especially excited about the role this device
could play in launching what we call 'location-aware
e-commerce."
Professor Sirin Tekinay of the New Jersey Institute of
Technology said: "We are excited about this research
project. The Digital Angel concept bears the potential to
provide applications of significant value and high impact.
We are happy to be working with Dr. Peter Zhou on the
enabling technologies for these applications and on the
general proof of this exciting concept."
About Applied Digital Solutions, Inc. Applied Digital
Solutions is a leading edge, single-source provider of
e-business solutions. The company differentiates itself in
the marketplace by enabling e-business through Computer
Telephony Internet Integration (CTII). With five-year
revenue growth (from 1994 to 1998) of 64,012%, Applied
Digital Solutions is ranked as the fifth fastest-growing
technology company by Deloitte & Touche in its 1999
Technology Fast 500 listing. For more information, visit the
Company's web site at www.adsx.com.
Statements about the Company's future expectations,
including future revenues and earnings, and all other
statements in this press release other than historical facts
are 'forward-looking statements' within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934, and as that term is
defined in the Private Litigation Reform Act of 1995. The
Company intends that such forward-looking statements involve
risks and uncertainties and are subject to change at any
time, and the Company's actual results could differ
materially from expected results. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances.