Advanced ID Corporation and NovaMeric Ltd. Add Revenue Details and New Products
CALGARY, AB -- (Marketwire) -- 05/14/10 -- Advanced ID Corporation (OTCBB: AIDOE) a leading developer of RFID solutions for supply chain applications, fleet operations, animal tracking and tire management, and NovaMeric Ltd., a leading product supplier and product development company, have added revenue details and specific new products as part of the formation of the new company.
NovaMeric's total revenue in the past twelve months exceeded $3,500,000 US and the company was profitable. Products being sold and under development include solar powered voter registration systems for the UN, a biometrics based voter registration system, a split DIN smart meter and a residential power meter system with home automation capabilities.
The NovaMeric total revenue forecast for the new company for the next twelve months is $4,000,000. The company will be profitable even though its investment in research and development will be sizable. Various patent applications have been prepared and submitted and will result in IP owned by the new company.
Advanced ID has seen considerable improvement in its revenue plan since the beginning of 2010 and is forecasting a twelve month $1,000,000 revenue contribution to the new company. The products enjoying new interest include tire tags for tire management, belt tags for conveyor security applications, cattle tags for livestock tracing and all of the UHF readers designed for the applications.
A new Advanced ID website has just gone live and reflects the new vitality of the product line and the new customers. It also highlights the new strength of our South American market.
According to Dan Finch, Advanced ID's president, "Our development of the operational, revenue and product plans for the new company is progressing well. Our primary objective at this time is to raise the funds required to get the new company up and running in accordance with our agreement with NovaMeric. We have a plan in place and expect to meet the NovaMeric requirements by early June."
Advanced ID Corporation, (www.advancedidcorp.com) provides global RFID solutions. Areas of focus include the industrial supply chain using the Company's proprietary technology for RFID tags and readers, which have been developed in cooperation with its Advanced ID Asia Engineering development partner in Chiang Mai, Thailand.
NovaMeric Ltd. (www.novameric.com) develops its products in South Africa and undertakes production in Asia and elsewhere for high volume products. The products will now be sold through the new company utilizing the marketing and sales resources of both NovaMeric and AIDO.
Safe Harbor Statement: Statements in this press release other than statements of historical fact, including statements regarding the Company's plans, beliefs and estimate as to projections are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the Company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the Company's judgment as of the date of this release. Advanced ID Corporation does not undertake to update, revise or correct any forward-looking statements.
