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PRESS RELEASES

 

SSTY Announces Financing and Uplisting Plans for PSRE/Globe Staff Subsidiary; Proceeds to Help Launch TPID in Europe

2006-04-27 11:09 ET - News Release

Also News Release (U-ONTV) INTV INC
Also News Release (U-PSRE) POWERSOURCE CP


BEIJING and PHILADELPHIA, April 27 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation today announced that as a result of pre- acquisition mechanisms, new management believes that they will be able to raise up to $7,025,000 in financing for the operations of PowerSource Corporation , the controlling interest of which it acquired previously. SSTY subsequently incorporated its wholly owned subsidiary, Globe Staff Consulting, into PSRE, which will be renamed Globe Staff Consulting Corporation (GSCC).

Through the conversion of Series B Preferred Stock, PSRE/GSCC management believes that it will be able to receive up to $7,025,000 from the option holders in the next quarter. The Series B and the options were all put in place by prior ownership/management prior to and as part of the acquisition by SSTY.

The Company also announced that once PSRE/GSCC brings its financials current and files a Form S-8 Registration Statement, it intends to apply for an OTCBB listing.

The proceeds will be used, in part, to help launch TPID in Europe, where Globe Staff already has significant relationships, including those related to providing sophisticated global tracking and other security-related solutions for the French Ministry of Interior.

SSTY plans to enter into a Services Agreement between ONTV, Inc. (which will be renamed True Product ID (TPID)) and GSCC, whereby TPID will be engaged to perform administrative and operational duties and functions, including R&D and sales and marketing for GSCC in Europe and worldwide. The value to GSCC of this arrangement is that it will have the benefit of the new TPID management team and the contacts of both SSTY and TPID to expand its worldwide sales and marketing efforts.

SSTY, in particular, intends to bring GSCC's technology to China, where SSTY has already developed significant relations with government and industry.

Richard Bendis, President and CEO of TPID, has developed extensive relationships in France and is recognized by the French as an experienced leader and who is valued for his business acumen.

Company President Michael Cimino also commented on the change in the anticipated Ex-Dividend date: "While the Company expected an earlier ex- dividend date in coordination with the NASD, the overall effect of this later date is that this extends the time period to acquire shares that will qualify for the TPID/ONTV dividend since all shares bought on the open market prior to the Ex-Date will carry the dividend with them."

About Sure Trace Security Corporation

Sure Trace produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. ONTV, Inc./True Product ID (TPID), is a majority owned subsidiary of Sure Trace Security Corporation which, via a license from Sure Trace, delivers turnkey solutions for governments, armed forces, and industry, through proprietary technology and through aggregating the technology, products, and services of third parties via licensing agreements and/or joint ventures. In addition to a license from SSTY, TPID will also be providing the day-to-day operational duties and R&D for SSTY's wholly owned subsidiary, Globe Staff Consulting Corp. (GSCC) . For more information, go to: http://www.suretrace.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. The forward-looking statements are made as of the date hereof and Sure Trace undertakes no obligation to update such statements. In August 2005, the common stock of Sure Trace was suspended from trading by the Securities and Exchange Commission, but the suspension ended in accordance with the securities laws after ten days. Management of Sure Trace is currently working with the broker-dealer community and regulators to permit quotations to be entered as soon as possible. More information will be provided to the public when circumstances warrant.

Sure Trace Security Corporation


CONTACT: Michael Cimino, President, Sure Trace Security Corporation,
+1-215-972-6999, michaelc@suretrace.com


Web site: http://www.suretrace.com/