IDS Worldwide, Inc. (PINKSHEETS: IDWD) reported today that meetings scheduled to be held yesterday in Orlando had to be postponed due to airline flights into Orlando International being cancelled yesterday due to Tropical Storm Ernesto. Unfortunately due to the upcoming holiday weekend, executives due to attend the meetings could not re-arrange flights into Orlando prior to the holiday weekend and family commitments.
IDS previously reported that escrow conditions have been met for the HLS cash offer for all publicly held shares of IDS. The majority of insider stockholders have agreed to the terms of the deal and will swap their respective IDS common shares for bonds and stock in the new combined entities. Audits have been completed for the 995ad.com merger to go forward and the transaction is expected to be signed immediately following the Labor Day weekend.
Additionally, under the OMB Mandatory Directive more government agencies have purchased the HLS Bioflash Drive throughout the week and again today. Contrary to erroneous reports circulating by anonymous internet posters, the HLS Bioflash Drive does not have to be on the GSA schedule prior to these government purchases, as evidenced by the 7 leading government agencies that have already purchased and taken delivery of the flash drives. HLS Bioflash is the only product available for the government agencies to purchase for biometric encrypted USB drives that does not use the antiquated 256 AES encryption that is no longer effective in stopping hackers. The HLS Bioflash has been sold to these government agencies at $125 per unit, HLS' lowest dealer wholesale cost. The HLS Bioflash retails to the public for $179 per unit. This makes the superior technology of the HLS Biometric Encryption USB over $70 per unit cheaper than any unit previously available for the government to purchase.
The Canadian Government has also purchased and received the initial shipment of HLS Bioflash Drives to secure all Senators' computers in the Canadian Parliament.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.