SENSE Holdings Retains China Direct, Inc. to Assist the Company in Its Acquisition Strategy
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--SENSE Holdings, Inc. (OTCBB:SEHO), a developer of next generation biometric and explosive detection security technologies for government and commercial security applications, has retained China Direct, Inc. (OTCBB:CHND), a diversified management and consulting organization servicing Chinese entities. Sense management desires to increase shareholder value while pursuing its long term business objectives. In coordination with China Direct, Sense Holdings will seek to formulate a comprehensive acquisition plan to secure an accretive acquisition partner.
Sense Holdings, Inc. will continue to pursue a joint project with Oakridge Laboratories to develop innovative explosive detection applications. The company’s financial commitments related to the Oakridge project have decreased as Oakridge will assume current financial obligations associated with the project. Sense Holdings, which retains commercialization rights to the project, remains an active partner in the goal of producing MEMS (micro-electromechanical systems) based explosive detection applications. Sense Holdings will seek to acquire a profitable Chinese entity while it continues its partnership with Oakridge to commercialize various explosive detection applications. The company plans to explore opportunities in which current shareholders will retain ownership of the intellectual property as well as a majority of the commercialization rights for its MEMS based explosive detection applications.
Dore Perler, CEO and President of Sense Holdings, explained, “Our Company has invested substantial resources to commercialize various explosive detection technologies. While we remain committed to the future potential of MEMS based applications, our current situation dictates that management develop a plan for a profitable future for Sense in 2007 and beyond. We believe a well crafted acquisition plan could enable our shareholders to benefit from the ownership of the intellectual property as well as a new, profitable business acquisition.”
Mr. Perler concluded, “We believe, in coordination with China Direct, Sense can identify an acquisition with a Chinese entity at a valuation which will be favorable to our current shareholders. All in all, we believe that this strategy will enhance the success of the company in the years to come and bring value to our shareholders.”
About Sense Holdings, Inc.
SENSE Holdings is a developer of next-generation biometric identification systems, and nanotechnology-based micro-sensor technologies for government, military and commercial security marketplaces. The Company's wholly owned subsidiary, SENSE Technologies, deploys proprietary biometric technology based on advanced fingerprint technology and biometric integration to create a range of solutions for prisoner identification, time and attendance, access control applications and other markets. SENSE's major customers include the U.S. Army, the U.S. Department of Corrections, American Airlines and others. A second wholly owned subsidiary, MSTI, is an emerging nanotechnology-based explosives detection technology development division developing a pipeline of advanced bomb detection technologies, including a prototype handheld explosive detection wand device for homeland security applications in airports and other security checkpoints. This handheld detection alternative is designed to be a cost-effective solution with extremely high detection sensitivity and real-time operability. Currently, a proof-of-principle prototype is undergoing further research and development at the U.S. Oak Ridge National Laboratory. For more information about Sense Holdings, please visit http://www.senseme.com.
About China Direct, Inc.
China Direct, Inc. (OTCBB:CHND) is a diversified management and consulting organization servicing Chinese entities. Our mission is to create a platform to empower medium sized Chinese entities to effectively compete in the global economy. As your direct link to China, our Company serves as a vehicle to allow investors to directly participate in the rapid growth of Chinese economy. China Direct acquires a controlling interest in Chinese entities, providing support to develop and nurture these entities as they seek to emerge into global enterprises. Our platform will allow medium sized Chinese entities to successfully expand their business globally. For more information about China Direct, please visit http://www.cdii.net.
Safe Harbor Statement
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