Company Focus Is On Core Business and Growth
Intellicheck
Mobilisa, Inc. (NYSE MKT:IDN), a leader in identity authentication,
verification and validation solutions, today announced the Company has
sold its wireless assets to the Jamestown S’Klallam Tribe in Washington
state. The sale to the Native American tribe includes the transition of
the business unit's assets and the continued employment of the wireless
team employees.
"The sale of our wireless assets reflects Intellicheck’s continued focus
on innovation within our core identity authentication business and is in
line with our business model of pursuing recurring high margin revenues
and seeking extraordinary growth opportunities. The sale of these assets
allows us to further focus on delivering increasing value on identity
authentication solutions where we see growing traction of our scalable
SaaS platform provisioned on mobile devices being adopted in key markets
such as law enforcement, retail and defense," explained Dr. William
Roof, CEO, Intellicheck.
Dr. Roof noted that the company has re-capitalized and is properly
positioned to aggressively pursue opportunities that will build further
on the gains reported in second quarter 2015 financial results.
"Intellicheck is realizing the opportunity to be world class in this
rapidly emerging market, which combines identity authentication with
vertical domain expertise. Our professional services integrate both
standard and custom databases and increasingly provide analytics so our
clients can evaluate the situation and take steps to secure their
facilities and people. We are focused on opportunities that will
allow us to make steady gains in performance and increase value for our
shareholders."
Unlike competitive solutions that lack full regulatory compliance, the
highest degree of data accuracy, and real-time search results
capabilities on both mobile and existing fixed infrastructures,
Intellicheck’s technology solutions are unique in their ability to
provide accurate, real-time identification authentication and
situational awareness that is fully regulatory compliant and is easily
integrated and customized into existing infrastructures. Its identity
solutions support customers in the national defense, law enforcement,
retail, hospitality and financial markets. The Company’s products scan,
authenticate and analyze components of identity documents including
driver licenses, military identification cards and other government
forms of identification containing magnetic stripe, barcode and smart
chip information. Once extracted from the identity card, the information
can be used to provide safety, security and efficiencies throughout
these markets.
About Intellicheck Mobilisa
Intellicheck Mobilisa is an industry leader in identity authentication,
verification and validation systems. The Company holds 20 patents
including many pertaining to identification technology. Its identity
solutions support customers in the law enforcement, national defense,
hospitality, retail and financial markets. The Company’s products scan,
authenticate and analyze components of identity documents including
driver licenses, military identification cards and other government
forms of identification containing magnetic stripe, barcode and smart
chip information. For more information on Intellicheck Mobilisa and
ICMOBIL, please visit www.icmobile.com.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may
constitute forward looking statements including, without limitation, the
statements regarding Intellicheck Mobilisa's sale of its wireless
assets, that are based on current expectations and are subject to risks
and uncertainties that could cause actual future results to differ
materially from those expressed or implied by such statements. Those
risks and uncertainties include, but are not limited to, risks related
to general market conditions, development and product commercialization
activities, and the success of its research, development and expansion
of sales and marketing team, plans and strategies and its ability to
protect its intellectual property. These and other risks and
uncertainties are identified and described in more detail in
Intellicheck Mobilisa's filings with the Securities and Exchange
Commission, including, without limitation, its Annual Report on Form
10-K for the year ended December 31, 2014, its Quarterly Reports on Form
10-Q, and its Current Reports on Form 8-K. Intellicheck Mobilisa
undertakes no obligation to publicly update or revise any
forward-looking statements.
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