Saflink Transfers Registered Traveler Assets to FLO Corporation
2007年7月18日 - 10:00PM
PRニュース・ワイアー (英語)
KIRKLAND, Wash., July 18 /PRNewswire-FirstCall/ -- Saflink
Corporation(R) (OTC:SFLK) (BULLETIN BOARD: SFLK) today announced
the details of the sale of its Registered Traveler (RT) assets to
its subsidiary, FLO Corporation. On April 16, 2007, FLO Corporation
issued Saflink a promissory note in the principal amount of $6.3
million to acquire all of Saflink's RT assets and related
liabilities. As a result of FLO's recent equity financing
transactions, FLO has paid a portion of the outstanding principal
of the note, and Saflink expects full payment of the remaining
balance in the near future. Although Saflink continues to maintain
a significant equity interest in FLO, it is no longer the majority
shareholder. Steve Oyer, Chief Executive Officer of Saflink
Corporation, stated, "This announcement is a continuation of our
previously discussed plan to monetize Saflink's assets and
restructure our balance sheet, while still providing an opportunity
to participate in the growth potential that is represented by the
future of the RT program." Saflink plans to discuss the details of
this transaction and other recent events in conjunction with its
upcoming second quarter of 2007 financial results conference call.
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). For more
information, please visit http://www.saflink.com/ or call
800-762-9595. About FLO FLO Corporation, in conjunction with FLO
Alliance partners, provides biometric identification technologies
and credentialing processes for use in airports in accordance with
U.S. Homeland Security's Registered Traveler (RT) Program. FLO
Alliance partners consist of industry-leading companies that
contribute their respective areas of expertise to develop, market,
sell and deploy an end-to-end solution and provide next-generation
RT 2.0 membership benefits to qualified individuals for expedited
security screening in designated lanes at participating airports in
addition to receiving promotional offers and discounts offered by
retail partners. The FLO Alliance partnership consists of FLO
Corporation, Microsoft, JPMorgan Chase, Accenture, Johnson
Controls, Inc., Smiths Detection Inc., The Paradies Shops,
International RAM, and ID Technology Partners. FLO Corporation was
created as a subsidiary of Saflink Corporation on March 9, 2007.
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. Some of these 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: media, Katie
James of Sterling Communications, +1-206-388-5758, , for Saflink
and FLO; or investors, Tony Schor of Investor Awareness, Inc.,
+1-847-945-2222, , for Saflink Web site: http://www.saflink.com/
http://www.fastlaneoption.com/
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