Veridicom Announces Key European Patent for Its Trusted Sensor15 December 2004
Veridicom International Inc. (OTC Bulletin Board: VRDI) today announced that the Examining Division of the European Patent Office intends to grant Veridicom a European patent for its high security biometric authentication process using trusted sensors. "Trusted sensors are an important part of our product roadmap and this pending patent further validates our strategy," stated Paul Mann, President & CEO of Veridicom International Inc. "Our recently announced VKI product leverages this strategy and is the first step in providing strong authentication within a portable, convenient, and user-friendly experience. We believe that this key pending patent award is truly a significant milestone for Veridicom and will open up many new business opportunities," added Mr. Mann. This pending patent adds a trusted sensor for authentication of biometric information used in an encryption system. The use of a trusted sensor enhances the security and integrity of an authentication system. Specifically, the trusted sensor includes a microprocessor, a memory module, a cryptographic library module, a biometric extraction/matching module, and an authentication module used within an encryption system. Our VKI product is an example of this concept put into practice. Other potential modifications, enhancements, and integration opportunities for this patent include integration with smart card systems, integration with transaction systems, and the ability to send and receive messages securely. "Veridicom is committed to protecting our intellectual property and enhancing its IP portfolio through new investments in technology" add Mr. Mann. "We believe this patent provides significant opportunities for Veridicom for integration with our future products as well as future licensing and royalty streams with third parties." Veridicom holds a variety of patents and pending patent applications for biometric technology, processes, and systems.
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 Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The Company's actual results could differ materially from expected results as a result of a number of factors, including general business conditions in the industry, changes in demand for products, the timing and amount or cancellation of orders, the uncertainties in research and development programs, the evaluation of potential opportunities, the level of corporate expenditures, capital market conditions, and others set forth in the Company's periodic reports as filed with the Securities and Exchange Commission and published on the Edgar System.
Source: PR Newswire
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