SOURCE: Advanced ID Corporation

December 08, 2006 08:00 ET

Advanced ID Corporation Issues Statement Regarding 3rd Quarter Results, SEC Filing and Introduces New Website

CALGARY, AB -- (MARKET WIRE) -- December 8, 2006 -- Advanced ID Corporation (OTCBB: AIDOE) announces that the company's 10Q has been filed as of Thursday, December 7, 2006. The late filing is the result of increased accounting and auditing requirements that were not previously part of the 10Q process. Advanced ID's Asian subsidiary is now a sales organization as well as the engineering center for the company and that increases the complexity of the quarterly financial consolidation. We expect to have the 'E' removed from our symbol by December 11, 2006.

3rd quarter results show a year-to-year quarterly revenue increase of 38% and a 27% increase over the 2nd quarter of 2006. Research and development costs are down 95% for the 3rd quarter compared to the 3rd quarter 2005 R&D expenses. General and Administrative expenses are down 34% for the 3rd quarter compared to the same quarter last year.

The company's three primary product lines continue to enjoy month to month sales gains and the tire management product line especially is poised to dominate an industry ready to expand dramatically in 2007.

During the quarter, the company hired new sales directors for both the company's companion pet recovery business in Canada and our emerging tire management business for North America. These sales professionals are already impacting on our results and will be critical as the company expands its customer base in 2007.

Advanced ID has been working on a new website and released an interim version on December 6, 2006. This website, www.advancedidcorp.com, fully describes the company's new tire management product line and provides additional important investor and customer information. The final version will be released in January 2007.

According to Dan Finch, Advanced ID's president, "We are encouraged by the financial results for the 3rd quarter and with exploding customer demand for our UHF RFID product line in several industries, we are confident that we are positioning the company for tremendous success next year."

About Advanced ID Corporation

Advanced ID Corporation is a complete solutions provider in the radio frequency identification (RFID) market. RFID provides a means for positive identification and trace back of animals or objects that have been identified with a microchip. It currently supplies product to over 3,000 organizations such as animal shelters, veterinarians, breeders, government agencies and fisheries with RFID devices tagged on over 850,000 animals.

Though initial RFID was based on low frequency, in 2004, after nearly three years of development, Advanced ID began commercializing its ultra high frequency DataTRAC™ tags, readers, and trace back management solutions. Advanced ID has been actively involved with government and industry projects establishing livestock identification and trace back solutions in Australia, China, Canada, Brazil, Argentina, Thailand, Taiwan and the United States. More recently Advanced ID has entered the Tire RFID industry and is developing its distribution network in at least a dozen countries around the world.

For further information visit Advanced ID Corporation at www.advancedidcorp.com

Safe Harbor Statement: Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs and estimate as to projections are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. Advanced ID Corporation does not undertake to update, revise or correct any forward-looking statements.

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