Monday, June 06, 2005

Oh Bloody Hell......

InkSure Technologies Reports Pattent Approvals Involving "Chipless" RFID

Patents Represent Milestone in Development of Affordable Item-Level Tagging for Secure Logistics and Track & Trace Applications

FT. LAUDERDALE, Florida, June 1, 2005 – InkSure Technologies Inc. (OTC BB: INKS - News), a leading provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, today announced that its wholly-owned InkSure RF subsidiary has been awarded two key U.S. patents related to the Company’s ongoing development of “chipless” RF tags.

The two patents are entitled “Chipless RF Tags” and “Radio Frequency Data Carrier and System for Reading Data Stored Therein”.

“While RFID (Radio Frequency Identification) technology enables automatic non-contact and non-line-of-sight conveyance of product and logistic information, current RFID applications require that relatively expensive chips be imbedded in the ID tags, making item-level tagging impractical for most products,” stated Elie Housman, Chief Executive Officer of InkSure Technologies Inc. “Our goal is to develop multi-bit ‘chipless’ RFID tags that can be manufactured and applied to product labels at a cost of well below one cent each. Such tags offer far more speed, functionality and ease-of-use than traditional barcodes and have the potential to revolutionize brand protection and supply chain management on a global scale.”

According to IDTechEx Ltd., a leading consultancy in smart labels and smart packaging, global revenues from RFID systems should exceed $10 billion by 2010, with ‘Chipless RFID” accounting for at least 30% of the total. (more)

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