InkSure Technologies Inc., a leading provider of covert machine-readable authentication solutions, was notified by their sales partner that a European government had approved a new tax stamp which includes the InkSure covert protection against counterfeiting. InkSure has received initial orders for US $275k to be delivered by October 2008. These orders are the first shipment of a master agreement with a minimum contract value of US $1.921 million. This agreement includes authentication field readers, quality control readers, and customized SmartInk.
The new tax stamp will include a hologram incorporated with InkSure covert technology to provide multi-layer protection for alcohol and cigarettes. The government body will read the covert marks by utilizing InkSure's proprietary PocketSureand SignaSure readers. Both readers contain specialized optics that are configurable to match the specific requirements of the customer's unique custom code.
"We are very pleased with this new agreement and the fact that we can play a significant role in reducing the revenue losses due to counterfeiting," commented Yaron Meerfeld, InkSure's Chief Operations Officer. "The fact that a government is willing to put its trust in our technology, to protect their tax stamps against counterfeiting, is a very strong validation of our secure solution."
About InkSure Technologies Inc.
InkSure Technologies Inc., with its corporate headquarters in Ft. Lauderdale, Florida and its research and development center in Science Park, Rehovot, Israel, specializes in comprehensive, covert security solutions designed to protect high profile brands and documents of value from counterfeiting, fraud and diversion. The Company's sales and marketing activities target a number of market opportunities, including financial, pharmaceutical, branded products, transportation, and government/institutional, on a global scale. The Company's R&D activities include the development of "chipless" RFID technology for affordable item-level secure logistics and track-and-trace applications.
The Company's common stock is listed on the OTC Bulletin Board under the symbol "INKS". Additional information on the Company is available on its website at http://www.inksure.com.