SEATTLE--(BUSINESS WIRE)--Visualant, Inc. (OTCQB: VSUL) – an industry-leading provider of chromatic-based identification, authentication and diagnostic solutions, with its ChromaID™ technology, announced today that its partner Intellicheck Mobilisa (NYSE MKT: IDN) has secured a new round of financing, a portion of which will advance the development of what are expected to be pioneering products based on Visualant’s patented light based technology for threat assessment and document authentication.
Visualant recently announced that Intellicheck had acquired the exclusive rights to Visualant, Inc.’s proprietary Spectral Pattern Matching™ (SPM™) technology for specific homeland security, law enforcement and crime prevention applications. The technology directs structured light onto a substance, through a liquid, gas, or off a surface to capture a unique ChromaID signature. Intellicheck believes this new technology will yield unprecedented breakthrough products due to its real-time analysis capabilities that can instantly detect a wide array of materials and substances including counterfeit identification documents, such as passports, driver licenses, counterfeit currencies and identity badges. In addition, ChromaID can be used to detect explosives, gunpowder residue and illicit drugs. Intellicheck believes applications of the innovative technology will be felt globally in every market ranging from defense and law enforcement to retail, banking and payments.
Intellicheck expects commercialization of new ChromaID-based products will be transformative for a wide variety of clients who would benefit from this cutting-edge technology. "We have heard from federal and commercial clients who anticipate our new products will have dramatic far-reaching implications in deterring domestic and international terrorism and crime, fraud and illegal profit-making operations. We are in the fortunate position of having pending orders for our anticipated new products before any products are even built. I’m extremely excited to see the early demand for these new state-of-the-art products," said Dr. William Roof, CEO of Intellicheck.
Visualant CEO, President and Founder, Ron Erickson said, “We are very excited to work together with Intellicheck to address the serious issues we face from domestic and international terrorism and crime, fraud and illegal profit-making operations.”
About Visualant, Inc.
Visualant™ is a public company whose
shares trade under the stock symbol “VSUL.” The Visualant Spectral
Pattern Matching™ (SPM) technology directs structured light onto a
substance or material, through a liquid, gas or off a surface, to
capture a unique ChromaID™. A ChromaID can be used to identify, detect
or diagnose markers invisible to the human eye. ChromaID scanner modules
can be integrated into a variety of mobile or fixed-mount form factors.
The patented, award-winning technology is disruptive, making it possible
to effectively conduct analyses in the field that could only previously
be performed by large and expensive lab-based tests. For more
information on Visualant, visit the company’s website at www.visualant.net.
About Intellicheck Mobilisa
Intellicheck Mobilisa (NYSE
MKT:IDN), is an industry leader in threat identification, identity
authentication, verification, and validation systems. Our technology
makes it possible for our customers to enhance the safety and awareness
of their facilities and people, improve customer service, and increase
operational efficiencies. Founded in 1994, Intellicheck has grown to
serve dozens of Fortune 500 companies including retail and financial
industry clients, national defense clients at agencies, major seaports,
and military bases, police departments, and diverse state and federal
government agencies. For more information on Intellicheck Mobilisa,
please visit www.intellicheck.com.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains 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) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this press release reflect the good faith judgment of our management and are based on facts and factors currently known to us. Forward-looking statements are subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements as a result of either the matters set forth or incorporated in this press release generally or certain economic and business factors, some of which may be unknown to and/or beyond the control of Visualant, Inc. Specifically, we are exposed to various risks related to our need for additional financing to support our technology development, the sale of a significant number of our shares of common stock could depress the price of our common stock, acquiring or investing in new businesses and ongoing operations, we may incur losses in the future and the market price of our common stock may be volatile,. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake, and we expressly disclaim, any obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release.