Unedited news and product information from vendors.
delSECUR CORPORATION Announces Organizational Update as QTECH SYSTEMS INC. Expands Leadership Team
Jun 22, 2010 (03:06 PM EDT)
SOUTH BURLINGTON, Vt., June 22 /PRNewswire-FirstCall/ -- As previously announced on October 24th, 2009 delSECUR sold 100% of its Intellectual Property including the patents of the Del-ID system to an Ontario company, QTECH SYSTEMS INC. in exchange for 49% of shares in QTECH. delSECUR is now pleased to announce leadership changes and appointments to QTECH's Management Team and the appointment of a new Chief Technology Officer, Nelson Leite of Kitchener, Ontario.
Mr. Leite brings to QTECH over 24 years of technology experience in the imaging and inspection software fields. His developments in imaging systems will serve as a foundation for the advancements surrounding QTECH's developments.
"I am thrilled to add someone of Mr. Leite's caliber, experience, and background to the QTECH management team," stated John Johnston, CEO of the company. "His experience and contacts will add significantly to our capability for commercialization of the del-id technology"
Elaborating on his decision to join the Company; Mr. Leite stated "I am looking forward to working with the new QTECH Management Team and in particular developing a technological department which rivals the top developers in the world"
In the restructuring of the Management Team of QTECH comes the appointment of Mr. Randall McCormick as President & CFO. Mr. Johnson will remain as Managing Director & CEO. In addition Mr. McCormick will remain as President & CEO of delSECUR CORPORATION. The company is also happy to announce the appointment of Mr. Antonio Argento of Montreal to the Board of Directors of delSECUR CORP. Mr. Argento became a Director earlier this year replacing outgoing Director Mr. Berge Heede, who had resigned.
In addition Lori Stemmler of Ontario has been appointed as Vice-President of Operations of QTECH. Mrs. Stemmler brings with her an extensive administrative and operational background.
"I am quite pleased to be part of this team and the amazing technology that is so much in demand in these times of privacy and identification worldwide concerns," said Mrs. Stemmler.
QTECH is currently being funded from the private sector through the issuance of Convertible Debentures. "This funding insures the continued development and financial interest of the Del-ID technology," stated Mr. McCormick. "We have already started the process to develop working prototypes and with Mr. Leite and his team of engineers we look forward to having a functional module in our midst this year." McCormick also added "that to avoid confusion between the two companies QTECH's name has been changed to DEL SECUR Technologies Group Limited, and will remain an Ontario company with offices in Montreal. "
delSECUR CORPORATION , a public company (Pink Sheets: DLSC) with its head office in S. Burlington, VT has been involved in the development of a unique authentication process based on abstract images of biological data collected from the fingers of living persons. This technology was sold in October 2009 to QTECH SYSTEMS INC. in exchange of 49% of the shares of their company.
This Press Release may contain forward-looking statements. These forward looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements and are subject to the risks normally associated with the completion of a corporate transaction. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.
SOURCE delSECUR CORPORATION