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PALM BEACH, Fla.--(BUSINESS WIRE)--Feb. 11, 2002-- Applied Digital Solutions, Inc. (Nasdaq: ADSX - news), an advanced technology development company, today formally invited 60 Minutes commentator Andy Rooney to be among the first people in the world to ``get chipped(TM)'' - the term the company uses for having a VeriChip(TM) identification microchip implanted.
On the February 10, 2002, 60 Minutes broadcast, Mr. Rooney said:
``We need some system for permanently identifying safe people. Most of us are never going to blow anything up and there's got to be something better than one of these photo Ids ... I wouldn't mind having something planted permanently in my arm that would identify me.''
Richard J. Sullivan, Chairman and CEO of Applied Digital Solutions, commented: ``Mr. Rooney is absolutely correct -- there's got to be something better. And there is. It's VeriChip. And we'd be delighted to include Mr. Rooney in our very first group of VeriChip subscribers once we have approval from the FDA to 'chip' people.''
On February 7, 2002, Applied Digital Solutions announced the formation of VeriChip Corporation as a new, wholly owned subsidiary. VeriChip, first announced on December 19, 2001, is a miniaturized, implantable identification device that can be used in a variety of medical, security and emergency applications.
How VeriChip Works
VeriChip is an implantable, radio frequency device about the size of the point of a typical ballpoint pen. Each VeriChip will contain a unique identification number and other critical data. Utilizing an external scanner, radio frequency energy passes through the skin energizing the dormant VeriChip, which then emits a radio frequency signal transmitting the identification number and other data contained in the VeriChip. The scanner will display the identification number, but the VeriChip data can also be transmitted, via telephone or the Internet, to an FDA compliant, secure data-storage site. It will then be accessible by authorized personnel. Inserting the VeriChip device is a simple procedure performed in an outpatient, office setting. It requires only local anesthesia, a tiny incision and perhaps a small adhesive bandage. Sutures are not necessary.
Medical Device Identification
Hundreds of thousands of medical devices are surgically implanted into patients every year. Examples of these life-saving and life-enhancing devices include pacemakers, artificial joints, orthopedic hardware, heart valves, and medication pumps. After insertion, these devices often require adjustment, repair, replacement, or even recall. VeriChip, inserted subdermally just above the implanted medical device, provides patients, medical providers, and manufacturers with a rapid, secure and non-invasive method for obtaining medically critical information about the device. VeriChip is a ready source of data about the patient's name and condition as well as the medical device's original components, required settings and other essential parameters. Future applications may include full medical record archival/retrieval for emergency medical care.
Emergency or Security-related Identification
Personal identity verification technology has gained considerable interest recently. A great deal of focus has been trained on so-called ``biometric'' technologies - which identify individuals by their unique biological or physical characteristics, such as fingerprints, voiceprints, retina characteristics, and face recognition points. VeriChip, by contrast, relies on imbedded, tamper-proof, microchip technology, which allows for non-invasive access to identification, medical and other critical data. Use of advanced VeriChip technology means that the threat of theft, loss, duplication or counterfeiting of data is substantially diminished or eliminated. Specific application areas include: enhancement of present forms of identification, search and rescue, and various law enforcement and defense uses.
About Applied Digital Solutions, Inc.
Applied Digital Solutions is an advanced technology development company that focuses on a range of early warning alert, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Wireless unit, the Company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. For more information, visit the company's website at http://www.adsx.com/.
Statements about the Company's future expectations, including future revenues
and earnings, and all other statements in this press release other than
historical facts, are 'forward-looking statements' within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private Litigation Reform Act of 1995.
The Company intends that such forward-looking statements involve risks and
uncertainties and are subject to change at any time, and the Company's actual
results could differ materially from expected results. The Company undertakes no
obligation to update forward-looking statements to reflect subsequently
occurring events or circumstances.
Applied Digital Solutions, Inc., Palm Beach Investor Contact: Robert Jackson, 561/805-8042 email@example.com Media Contact: Matthew Cossolotto, 914/245-9721 firstname.lastname@example.org
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