Saflink's Subsidiary - FLO Corporation - to Focus on Registered Traveler Program
2007年4月14日 - 12:15AM
PRニュース・ワイアー (英語)
FLO Raises $3.5 Million in Financing Round KIRKLAND, Wash., April
13 /PRNewswire-FirstCall/ -- Saflink Corporation(R) (OTC:SFLK)
(BULLETIN BOARD: SFLK) , founding member of the FLO(TM) (Fast Lane
Option) Alliance, today announced that it has formed a wholly-owned
subsidiary, FLO Corporation, to focus on the Registered Traveler
(RT) program. In conjunction with this FLO issued $3.5 million in
convertible debt to accredited investors in exchange for a
combination of cash and the assignment of outstanding Saflink
debentures. Steve Oyer, Interim Chief Executive Officer of Saflink,
stated, "Today's announcements describe the logical next steps in
the restructuring activities that we began last October. We've
talked about the need to raise capital to fund our efforts around
RT and our core technology portfolio and this is the first step in
that process." Glenn Argenbright, President of the newly-formed FLO
Corporation, stated, "Having recently secured our first airport
award, and seeing substantial growth in the Registered Traveler
marketplace, this capital allows us to continue to move forward
with our business plan, which is to provide a first- class RT
solution for airports, airlines and the traveling public." About
Saflink Saflink Corporation offers biometric security, smart card
and cryptographic technologies that help protect intellectual
property and control access to secure facilities. Saflink security
technologies are key components in identity assurance management
solutions that allow administrators and security personnel to
positively confirm a person's identity before access is granted.
Saflink cryptographic technologies help to ensure that sensitive
information is accessed only by the intended recipient(s). Saflink
Corporation is also the founding member of the FLO(TM) (Fast Lane
Option) Alliance, which is a consortium of industry-leading
companies that combine their respective expertise with Saflink's
FLO subsidiary to develop, market, sell and deploy an end-to-end
solution for the U.S. government's Registered Traveler Program. For
more information, please visit http://www.saflink.com/ or call
800-762-9595. About the FLO Alliance The FLO program benefits from
the participation of industry-leading companies that contribute
their respective areas of expertise to develop, market, sell and
deploy an end-to-end solution for the U.S. government's Registered
Traveler Program. The Alliance's solution is designed to provide
for the complete Registered Traveler credentialing process and its
operational use in airports. The FLO Alliance's biometrically
secured FLO card would allow qualified individuals to take
advantage of expedited security screening procedures in designated
lanes at participating airports as well as promotional offers and
discounts offered by retail partners. Companies participating in
the FLO program include Saflink Corporation (OTC Bulletin Board:
SFLK) and its wholly-owned subsidiary FLO Corporation, Microsoft,
JPMorgan Chase, Johnson Controls, Inc., Smiths Detection Inc., The
Paradies Shops, International RAM, Expedia Corporate Travel and ID
Technology Partners. For more information about the FLO program and
Alliance, contact Luke Thomas, Saflink Executive Vice President,
Registered Traveler Program, at 425.278.1253 or visit
http://www.fastlaneoption.com/. NOTE: "Saflink" is a registered
trademark and "FLO" is a trademark of FLO Corporation. The names of
actual companies mentioned herein may be the trademarks of their
respective owners. This release contains information about our
management's view of our future expectations, plans and prospects
that constitute forward-looking statements for purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from historical
results or those indicated by these forward-looking statements as a
result of a variety of factors. For example, if we do not generate
significant revenue from our participation in large government
security initiatives or increase the level of our participation in
these initiatives, our business performance and future prospects
may suffer. In addition, if third parties, on whom we partly depend
for our product marketing and distribution, do not promote our
products, our ability to generate revenue may be limited and our
business and financial condition could suffer. Other factors
include, but are not limited to, risks and uncertainties associated
with our financial condition, our ability to sell our products, our
ability to compete with competitors and the growth of the security
market, and those included in our annual report on Form 10-K, as
well as other documents we periodically file with the Securities
and Exchange Commission. DATASOURCE: Saflink Corporation CONTACT:
Katie James of Sterling Communications, Inc., +1-206-388-5758, , or
Investor Relations, Tony Schor of Investor Awareness, Inc.,
+1-847-945-2222, , both for Saflink Corporation Web site:
http://www.btcweb.biz/
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