Digital Angel Awarded Contract Extension From Bonneville Power Administration
13 October 2005 - 10:30PM
PR Newswire (US)
$680,000 Contract Covers Completion of Large RFID Antenna System
for Tracking Fish in Columbia River Basin SO. ST. PAUL, Minn., Oct.
13 /PRNewswire-FirstCall/ -- Digital Angel Corporation (AMEX:DOC),
an advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets, announced today that it had received a $680,000
contract extension from the Bonneville Power Administration to
complete the development of a large RFID antenna detection system
for tracking fish in the Columbia River basin. The new contract
brings the total value of the antenna project to more than $1.4
million. The basin antenna system, with antennas being constructed
at a minimum size of 16 feet by 16 feet, could be the largest RFID
system in the world. It also includes the development of new
readers and new implantable tag enhancements for tracking fish in
the area. Digital Angel is a leader in developing large RFID
antenna systems that, despite their size, can detect and read the
standard fisheries encapsulated tags that are only 12 millimeters
long, said Digital Angel Chief Executive Officer Kevin N. McGrath.
"This new contract extension is another endorsement of the use of
our RFID technology for tracking and reporting the movement and
behavior patterns of fish in rivers throughout the northwestern
portion of the U.S.," McGrath said. "When completed in the third
quarter of 2006, this RFID antenna detection system will be an
invaluable tool for the government, and the environmental
community, for understanding the behavior of fish in one of the
most important habitats in the world. We look forward to our
continuing relationship with the Bonneville Power Administration
and to completing this very significant project." Since the early
1990s, Digital Angel has been developing, manufacturing and
installing implantable passive integrated transponders and reader
systems for the federal Columbia and Snake River hydroelectric
projects. For the past two years, the Company has been working on
the development of large antenna systems, specifically for the
Bonneville Corner Collector, located on the Columbia River in
Oregon. About Digital Angel Corporation Digital Angel Corporation
develops and deploys sensor and communications technologies that
enable rapid and accurate identification, location tracking, and
condition monitoring of high-value assets. Applications for the
Company's products include identification and monitoring of humans,
pets, fish and livestock through its patented implantable
microchips; location tracking and message monitoring of vehicles
and aircraft in remote locations through systems that integrate GPS
and geosynchronous satellite communications; and monitoring of
asset conditions such as temperature and movement, through advanced
miniature sensors. Digital Angel Corporation is majority-owned by
Applied Digital Inc. (NASDAQ:ADSX). For more information about
Digital Angel, please visit http://www.digitalangelcorp.com/. The
statements in this press release that are not strictly historical,
are "forward-looking" statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, that the Company's majority
stockholder, Applied Digital Inc. owns 55.4% of the Company's
common stock; that new accounting pronouncements may impact the
Company's future results of operation; that the Company may
continue to incur losses, that infringements by third parties on
the Company's intellectual property or development of substantially
equivalent proprietary technology by the Company's competitors
could negatively affect the Company's business; that domestic and
foreign government regulation and other factors could impair the
Company's ability to develop and sell the Company's products in
certain markets; that the Company relies on sales to government
contractors of its animal identification products, and any decline
in the demand by these customers for the Company's products could
negatively affect the Company's business; that the Company depends
on a single production arrangement for its patented
syringe-injectable microchips; that the Company depends on
principal customers; that the Company competes with other companies
and the products sold by the Company's competitors could become
more popular than the Company's products or render the Company's
products as obsolete; that the Company's earnings will decline if
the Company must write-off goodwill and other intangible assets;
that the exercise of options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock ;that currency exchange rate fluctuations could have
an adverse effect on the Company's sales and financial results; and
that the Company depends on a small team of senior management and
the Company may have difficulty attracting and retaining additional
personnel. A detailed statement of risks and uncertainties is
contained in the Company's reports to the Securities and Exchange
Commission, including in particular the Company's Form 10-K for the
fiscal year ended December 31, 2004. Investors and stockholders are
urged to read this document carefully. The Company can offer no
assurances that any projections, assumptions or forecasts made or
discussed in this release will be met, and investors should
understand the risks of investing solely due to such projections.
The Company undertakes no obligation to revise any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this press release. Contact: Allen &
Caron Inc Michael Lucarelli (investors) Brian Kennedy (media)
212-691-8087 212-691-8087 DATASOURCE: Digital Angel Corporation
CONTACT: Investors, Michael Lucarelli, , or Media, Brian Kennedy, ,
both of Allen & Caron Inc, +1-212-691-8087, for Digital Angel
Corporation Web site: http://www.digitalangelcorp.com/
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