HS3 Technologies, Inc. (OTCBB: HSTH), a worldwide provider of innovative security solutions, is pleased to announce the nomination of two highly qualified individuals Dr. Charles Ferris and Mr. Michael Yinger to become members of our board of Directors and are named in the recently filed proxy statement as board candidates. We expect them to be elected with favorable results at the upcoming Annual and Special General Meeting of Shareholders that will be held at the corporate offices in Denver, Colorado on August 14, 2007 at 10:00am. "Both gentlemen bring many years of experience and expertise in the areas we have wanted to fulfill within the company," said Mark Lana, CEO of the company. Proxy statements and voting cards have been issued to our shareholders to be returned to the agent before the shareholder's meeting.
Dr. Charles Ferris is the Founder and President of Strategic Science LLC. He is a specialist on advanced topics in biotechnology, business management, and technology-based economic development. He provides strategic guidance to technology companies in the areas of scientific, business and corporate development, and is passionate about applying these backgrounds to optimize health and wellness outcomes. His professional career has also resulted in significant relationships with many academic, scientific, tech-policy and business opinion leaders.
Dr. Ferris previously served as the Director of Biosciences Programs for the State of Colorado's science and technology development agency. The agency was formed to promote public/private consortia and foster research excellence, technology transfer and technology-based business development.
As a retired Lieutenant Colonel from the U.S. Army, Dr. Ferris has an extensive background and training in military medical capabilities and protocols as well as chemical, radiation and biological defense. Dr. Ferris served as Chair of both the Letterman Army Institutional Review Committee and the Animal Care and Use Committee.
A resident of Colorado since 1983, Dr. Ferris has been involved in biological sciences research and business activities for over 20 years. His particular expertise is in the convergence of basic science and emerging technologies and taking these to market.
Michael Yinger is the President and co-founder of Pythia, Inc., a start up in the business of human capital management. He is also the founder and owner of Customer Solutions, Inc., a consultancy focused on the interface of business process and technology. Mike has over 10 years of technology and management consulting experience, serving clients in high tech, financial services, healthcare, and manufacturing. Mike has an MBA from UC Berkeley and a certificate in International Logistics from Georgia Tech. Early in his career, Mike was merchant mariner, spending several years at sea with Chevron and the California Maritime Academy, where he was an Assistant Professor. Mike's home is in Colorado where he skies and hikes, depending on the season.
We are moving closer to completion of several major product trials with Fortune 500 companies and Government Agencies involved with Homeland Security. In each case the customers request a month or longer to demonstrate our product at their locations. We are confident that successfully completed demonstrations with these customers should lead HS3 to multiple installations nationally. One of these projects may account for the installation of 13,000 devices and a long-term monitoring contract.
In another trial we are positioned to install several hundred biometric access control units. The customer is one of the largest Telecommunications companies in the world. We have installed the demo units using our identity verification solution for access to their most secure and sensitive areas. Our higher level of security uses biometrics, proximity cards and digital codes for authentication. While still in the earlier stages of the demo time-line, our most recent conversations have been very positive and their experience with the product has been well received. We are proceeding to the next level of the evaluation process that could lead to worldwide adoption of this security product with in their system.
"Our new sales team has been in place with the company for only four months, yet they have breathed new life into the strategic direction and growth we see for our company. With this team, there is access to higher levels of management within Fortune 500 companies and Government Agencies that we were lacking," stated Mark Lana.
We now have a significant sales pipeline which will enable us to move into the next phase of our growth plan. Although our products will continually change and upgrade, HS3 has begun to finalize the product line to meet many of our customers' needs. We are currently working with several companies and government agencies to meet their specific scope and solutions for Home Land Security.
Although we have much of our infrastructure in place, customers and revenue streams identified, it is essential that we continue to remain focused and intact as an organization. The negative impact that would be created with changes in current management would pose a major step backwards in meeting our objectives.
Our shareholders have been very patient, while the company has organized itself for long-term success. We would like to thank our shareholders and stress that HS3 is moving closer than ever to bearing the financial fruit that our shareholders have been waiting for.
In order to protect our shareholders and continue to foster new ideas, we have nominated the 2 new additional board members noted above, with the pursuit of a third. When filled, we feel that this 5-member team will help lead HS3 to the next level while meeting the expectations of our shareholders.
Forward-Looking Statement Disclaimer
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the completion of product trials with Fortune 500 companies or any government agencies, the successful completion of any product demonstrations that will lead to any installation, or that our sales pipeline will allow us to move into the next phase of our growth plan.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage technology company and its products and the entry into new markets for our products and services. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our recent current reports on Form 8-K, our annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic and current reports filed from time-to-time with the Securities and Exchange Commission.
HS3 Technologies, Inc.