Business News

InkSure Technologies Reports Results

Friday 15. August 2008 - nkSure Technologies Inc. (BULLETIN BOARD: INKS) , a leading provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, and an important developer of chipless RFID technology today reported its operating results for quarter and six months period ended on June 30, 2008.

Philip M. Getter, Chairman of the Board, observed that, “The period was highlighted by the completion of another round of funding from our lead investor and important advances in our SARcode ‘chipless’ RFID technology. Although our cash position has been enhanced by our financing activity, our reported sales declined due to the completion of several contracts”. Mr. Getter noted however, that, “our gross profit margins are good and cash and equivalents amounted to $1,393,000. We are very enthusiastic about our RFID ‘chipless’ technology and we view our SARcode RFID as unique and a significant opportunity that augers well for future results”.

Yaron Meerfeld, Chief Executive Officer, noted that, “Since the beginning of this year, we have committed significant resources to developing our unique chipless RFID technology. We have seen high interest in this breakthrough technology and are positioning our Company to take full advantage of this situation. Our issued and pending patents provide InkSure with a lead in chipless RFID. It’s important to note that our technology enables us to read marked items without consideration to line of sight at a cost of less than one penny per item, which to the best of our knowledge, is unique. We are encouraged by the market feedback to our SARcode RFID technology. We are also excited about our win for the supply to a large tax stamp project with our security hologram technology which we believe will have a positive impact on our results.”