Visualant Partner Intellicheck Secures Financing to Accelerate Development of Groundbreaking ChromaID™ Threat Identificatio...
June 20 2016 - 9:00AM
Business Wire
Visualant, Inc. (OTCQB: VSUL) – an industry-leading provider of
chromatic-based identification, authentication and diagnostic
solutions, with its ChromaID™ technology, announced today that its
partner Intellicheck Mobilisa (NYSE MKT: IDN) has secured a new
round of financing, a portion of which will advance the development
of what are expected to be pioneering products based on Visualant’s
patented light based technology for threat assessment and document
authentication.
Visualant recently announced that Intellicheck had acquired the
exclusive rights to Visualant, Inc.’s proprietary Spectral Pattern
Matching™ (SPM™) technology for specific homeland security, law
enforcement and crime prevention applications. The technology
directs structured light onto a substance, through a liquid, gas,
or off a surface to capture a unique ChromaID signature.
Intellicheck believes this new technology will yield unprecedented
breakthrough products due to its real-time analysis capabilities
that can instantly detect a wide array of materials and substances
including counterfeit identification documents, such as passports,
driver licenses, counterfeit currencies and identity badges. In
addition, ChromaID can be used to detect explosives, gunpowder
residue and illicit drugs. Intellicheck believes applications of
the innovative technology will be felt globally in every market
ranging from defense and law enforcement to retail, banking and
payments.
Intellicheck expects commercialization of new ChromaID-based
products will be transformative for a wide variety of clients who
would benefit from this cutting-edge technology. "We have heard
from federal and commercial clients who anticipate our new products
will have dramatic far-reaching implications in deterring domestic
and international terrorism and crime, fraud and illegal
profit-making operations. We are in the fortunate position of
having pending orders for our anticipated new products before any
products are even built. I’m extremely excited to see the early
demand for these new state-of-the-art products," said Dr. William
Roof, CEO of Intellicheck.
Visualant CEO, President and Founder, Ron Erickson said, “We are
very excited to work together with Intellicheck to address the
serious issues we face from domestic and international terrorism
and crime, fraud and illegal profit-making operations.”
About Visualant, Inc.Visualant™ is a public company whose
shares trade under the stock symbol “VSUL.” The Visualant Spectral
Pattern Matching™ (SPM) technology directs structured light onto a
substance or material, through a liquid, gas or off a surface, to
capture a unique ChromaID™. A ChromaID can be used to identify,
detect or diagnose markers invisible to the human eye. ChromaID
scanner modules can be integrated into a variety of mobile or
fixed-mount form factors. The patented, award-winning technology is
disruptive, making it possible to effectively conduct analyses in
the field that could only previously be performed by large and
expensive lab-based tests. For more information on Visualant, visit
the company’s website at www.visualant.net.
About Intellicheck MobilisaIntellicheck Mobilisa (NYSE
MKT:IDN), is an industry leader in threat identification, identity
authentication, verification, and validation systems. Our
technology makes it possible for our customers to enhance the
safety and awareness of their facilities and people, improve
customer service, and increase operational efficiencies. Founded in
1994, Intellicheck has grown to serve dozens of Fortune 500
companies including retail and financial industry clients, national
defense clients at agencies, major seaports, and military bases,
police departments, and diverse state and federal government
agencies. For more information on Intellicheck Mobilisa, please
visit www.intellicheck.com.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements (within the meaning of Section 27a of the Securities Act
of 1933 and Section 21e of the Securities Exchange Act of 1934)
regarding us and our business, financial condition, results of
operations and prospects. Forward-looking statements in this press
release reflect the good faith judgment of our management and are
based on facts and factors currently known to us. Forward-looking
statements are subject to risks and uncertainties, and actual
results and outcomes may differ materially from the results and
outcomes discussed in the forward-looking statements as a result of
either the matters set forth or incorporated in this press release
generally or certain economic and business factors, some of which
may be unknown to and/or beyond the control of Visualant, Inc.
Specifically, we are exposed to various risks related to our need
for additional financing to support our technology development, the
sale of a significant number of our shares of common stock could
depress the price of our common stock, acquiring or investing in
new businesses and ongoing operations, we may incur losses in the
future and the market price of our common stock may be volatile,.
Readers are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. We do not undertake, and we expressly disclaim, any
obligation to revise or update any forward-looking statements in
order to reflect any event or circumstance that may arise after the
date of the press release.
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VisualantHal Bringman, +1 (206) 299-0622 ext 801Mobile:
+1 (310) 210-8011Email: hal@nvpr.comSkype:
halbringmanorIntellicheck Mobilisa Press Contacts:Media and
Public Relations: Sharon Schultz, (302) 539-3747Investor Relations:
Gar Jackson, (949) 873-2789
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