IDenta Issues Statement Admonishing Speculators

Tag : Powder Coating Equipment
The CEO ofIDenta Corp. today issued a comprehensive statement concerningrecent unauthorized promotional activities it believes are beingconducted by a small number of financial agencies and short-termstock speculators. The company believes that these actions haveboth damaged its reputation and unrightfully depreciated the valueof the company's stock. In the statement IDenta reiterated thatsales of the company's products are steadily increasing (sincebeginning of 2007), that numerous new products are in development(precursors), that the company remains and will continue to befinancially strong and that its worldwide partnerships are fullycommitted to the long-term success of IDenta Corp. (All of thepartnership companies have and continue to invest substantial fundsin marketing).
Today's statement reads:
"To Our Valued Long-Term Shareholders:
It is increasingly apparent that despite IDenta's substantialprogress since the beginning of 2008, there are some short-termstock speculators and unfortunately specific financial agencies whoare determined to undermine the price of IDTA common stock. Theiractions are without merit or justification other than for the solepurpose of short-term profiteering at the expense of damaging thecompany's reputation and manipulating the long-term investments ofour loyal shareholders.
We have identified the key businesses and investors involved inthese deliberate actions against IDenta Corp. and its long-termshareholders, and believe that some of their actions may border onbeing illegal activity. We believe that they are actuallyspeculating that IDenta is, as we represent, a company that has abright and prosperous future, but that they are collaborating toundermine the share price in order to increase their own holdingsat the expense of loyal shareholders.
IDenta is a financially strong, balanced and secure company withrevenues (in hundreds of thousands of dollars per year but stillnot in millions of dollars as we expected to have already, but withthe continuing increase in sales we will be able to reach it in areasonable time) and assets (only in the last 18 months we haveinvested in new machines, parts, products, plant, etc., severalhundreds of thousand dollars) that fully support a much highershare price than is now being reflected in the marketplace. Thecompany's global sales continue to expand because the war on drugs,terrorists and criminals continues to increase, not decrease. Thereis substantial demand for all elements of our product lineincluding IDenta Stinger and Confirm Drug Detectors, IDenta AlertExplosive Detectors, IDenta's new precursor detectors, and ourunique Bullet Hole Test Kits (BTK). IDenta Corp. and its affiliatepartners and distributors continue to be highly accepted andrequested in market places around the globe. Sales of all productlines are increasing daily.
No outside funding has been necessary to expand our productioncapabilities in order to deliver increasing product orders on time,or to fund the company's R&D huge programs to keep up withnumerous requests to develop new detection products. These newpatents and expanded manufacturing facilities have greatly addedmonetary value to the company's assets and further strengthened thecompany's balance sheet. IDenta Corp. is a fiscally sound andwell-managed company. We have delayed releasing any partialfinancial statements until the 2008 year is complete with salesfigures from all of our affiliates so that all information willcorrectly reflect the complete and timely financial picture of IDTAwithout any deficiencies.
Large agencies of the federal government in the U.S. as well asinternational agencies, most notably the recent presentation inParis to The International Narcotics Control Board (INCB) of theUnited Nations, recognize IDenta's unique product characteristicsand research & development capabilities. It is a strength wehave that no other company in the world has. We anticipate thatthese and future presentations will result in further extending ourmarketing base and deliver significant product orders togovernments around the world.
At present IDenta Corp., along with our U.S.-based partners, JantPharmacal-Accutest, are in negotiations with a very large Americanmanufacturing company to use both our explosive and drug detectorsas confirmation devices for the electronic detection equipment theymanufacture. All such electronic devices are very expensive andrecord a high number of false positives. IDenta's products will beused standard backup to these devices because they are inexpensiveand 100% accurate (the only no-false-positives products currentlyon the market). Because of this success, we have agreed that JantPharmacal can now extend their marketing program into countriesoutside the United States where they have ongoing business, such asIndia and China.
The contractual relationships and investments made by ouraffiliations and distributors are all strong, positive andprojected by these businesses to be very profitable. In November ajoint news conference is in planning with Jant Pharmacal-Accutestto make further announcements concerning our 2009 plans forcontinued worldwide expansion and for the introduction of keyproduct lines into the retail marketplace.
If the unfortunate activities of these few self-serving partiescontinue, IDenta is prepared to initiate any and all necessaryactions, including legal investigation, in order to restore fairmarket value to the company and reasonable stability to its stockshare price.
The new product incorporates digital control and display of speedand time for reproducibility and accuracy, with true speed displaycapable of a variety of applications in research laboratories,wherever protocols call for shaking, mixing, or vortexing. TheMulti Vortex-Genie is being marketed primarily through theCompany's extensive network of laboratory equipment dealers allover the world.
Tests suggest that Xiom's portable spray-gun powder-coatingtechnology will alleviate the field-weld coating applicationproblems associated with Tengiz's harsh winter weather as well ascut the cure time from days to minutes. Located in low-lyingwetlands along the northeast shores of the Caspian Sea south ofRussia, Tengiz's environment is extremely corrosive with soil thatis sandy and soggy with salty sea water. Temperatures ranging fromminus 40deg in winter to 40deg in summer cause cyclical freezingand thawing. To provide optimum corrosion protection, the 39-footcarbon steel pipe lengths are factory coated with DuPont Nap-GardRFBE red primer and gold top coat.
A series of recent field tests were conducted on 6-inch carbonsteel pipe with simulated weld and repair areas. The Xiom 5000Scorpion gun was used to cover the larger girth welds and damagedareas with the same DuPont thermoplastic powders used to coat thepipe lengths in the factory. The test spray coating overlapped theexisting coating to form a monolithic bond.