Sure Trace Security Corporation Announces Approval of Globe Staff Consulting Acquisition By French Government.
All Required Documentation Completed and Approved; Globe Staff Officially
Wholly Owned Subsidiary of Sure Trace
BEIJING, PHILADELPHIA, and BAYONNE, France, Oct. 27 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY) announced that the mandatory French administration regulations for the purchase of Globe Staff Consulting (GSC) have now been completed and approved by all French Government Ministries. A full internal audit and examination of GSC technologies took place, conducted by Sure Trace's CFO Mr. Joseph Repko and staff last week in France.
Newly appointed CEO for GSC, Mr. Cameron Moriarty, stated, 'The completion of all documentation for French Authorities now allows us to focus on delivery of our GEOLOCATION tracking technologies. GSC is well-established in France as a leader in security technologies and now we can begin to introduce these products and services to the rest of the world.'
The management of Sure Trace believes that, with the purchase of GSC completed, it now has one of the most effective mixes of tracking and tagging security services available in the world.
Mr. Moriarty will step down as COO and member of the Board of Directors of the parent company, Sure Trace, and will assume the position of Gerant/CEO of GSC. Mr. Jean Gilles Subervie, former CEO of GSC, will relinquish that position and assume the position of CTO, a role he also maintains with the parent company.
About Sure Trace Security Corporation
Sure Trace produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company intends to deliver 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 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. No assurances can be given that the Company shall receive the amounts stated in this release. 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 on the Pink Sheets as soon as possible. More information will be provided to the public when circumstances warrant.
SOURCE Sure Trace Security Corporation
