SOURCE: Dynamic Biometric Systems, Inc.

August 08, 2008 15:49 ET

Dynamic Biometric Systems Announces That the US Patent Office Has Approved Claims 1 Through 15 of Patent #1; Receives an Order for 1,000 Bio-Pens and FINRA Has Approved Trading Status

PHOENIX, AZ--(Marketwire - August 8, 2008) - Dynamic Biometric Systems, Inc. (PINKSHEETS: DYBO), a Nevada corporation (the "Company"), announced today that it has just been approved to trade on the Pink Sheets under the symbol DYBO. Information on the Company including current financial information is available on the Company's web site www.dynasig.com. Peacock, Hislop, Staley & Given ("PHS&G"), a Phoenix, Arizona Broker Dealer, sponsored the Company for trading and is making a market in the common shares of DYBO. The Head Trader's name is Gene Harries and he can be reached at 602-952-6822.

The Company also announced that on July 24, 2008, the United States Patent and Trademark Office's (the "USPTO") Board of Patent Appeals and Interference has ruled claims 1 to 15 of the Company's Patent No. 1, titled "Method and Apparatus for Capturing and Authenticating Biometric Information from a Writing Instrument," to be patentable. Patent #1 was originally filed on August 23, 2004. The Company believes that Claims 1 through 15 are the most important claims of the Patent. Patent #1, when formally issued, will document and as a matter of public record protect the uniqueness of the Company's proprietary hardware design and multimodal authentication strategy and security design. The Company hardware capability is what discriminates the practical ability of the Company's products for rapid and broad implementation without extensive training.

The Company has also filed its Patent #1 with the European Patent Office (the "EPO") covering England, France, Germany and other European Union countries. The Company is awaiting comments on this application. In September 2006, the Company filed Patent #2 with the USPTO titled "Signature Authentication" but due to USPTO backlog does not expect action until 2010. Regardless, the Company filed Patent #2 with the EPO on March 31, 2008.

Lastly, the Company announced that it had entered into a master manufacturing and distribution agreement with Beacon Group SW, Inc. located in Tucson, AZ ("Beacon"). Under this agreement the Company received a $150,000 purchase order for Bio-Pen parts. Beacon expects to start shipping completed Bio-Pens in October 2008. This activity is related to the Company's current focus on developing a marketing relationship with NISH, Inc. ("NISH"). NISH is a contracting umbrella which in 2007 supplied, through its 545 affiliates, more than $1.6 billion in products and services to various government agencies under the AbilityOne Program. Beacon, which is one of the NISH affiliates, will manufacture and supply the Bio-Pen System for NISH's Secure Mail and Digital Document Services initiative. In 2007 a NISH affiliate was awarded the initial consolidated mail contract for Washington, DC area Department of Homeland Security (DHS) valued at $121 million over eight years. The initial year of that contract starts in October 2008. The Company's objective for the next year is to have sites at more than 100 NISH Business Solutions Network affiliates where they are actively using the Bio-Pen System. These sites will directly expose the Company's products to decision makers in various government (federal, state and local) agencies and commercial customers. NISH has already introduced the Bio-Pen System to these entities on multiple occasions. Beacon has started and NISH has committed to sponsor the process of having the Bio-Pen product added to the U.S. Government's special authorized product list (the Procurement List or the "PL"), which is expected to take approximately 10 to 12 months. Being entered on the PL will allow NISH affiliates to sell the AbilityOne Bio-Pen System to the entire Federal Government under various budgetary set asides and initiatives.

The Company is continuing its commercial efforts. The Company also announced today that on June 27, 2008, the Company contracted with Arcware Solutions, LLC to allow Arcware to market the Bio-Pen hardware and software (the "DynaSig System") to the estimated 600 Laserfiche resellers and VARs. Laserfiche is an enterprise level document management system prevalent in Healthcare, Finance and local Governments with an estimated 25,000 users. The Company is continuing its prior sales initiatives in the U. S., Germany, the United Kingdom and Korea.

About DBSI

Since 2003, DBSI has been developing proprietary hardware (the "Bio-Pen") and its proprietary software to allow for the verification of dynamic signatures (together the "DynaSig System"), i.e. the system captures the unique act of signing rather than the signature image. DBSI has developed multiple variations of the Bio-Pen, which include full electronic authentication combined with actual signature capture. DBSI has developed 3 end-user DynaSig System applications: PDF, LogBook and LockBox, which can be used for access control and electronic document management. These applications work individually or as a suite with different features including verification of sender and recipient, access and document execution by multiple verified signers, content validation, and a permanent logbook of access. Although DBSI has yet to generate material revenues from its technology, it currently has more than 600 finished Bio-Pens in inventory ready for sale. DBSI's office is located at 14647 S. 50th St., Suite 130 Phoenix, AZ 85044 and its phone number is` (480) 705-9110. Information on DBSI is also available on its website at www.dynamicbiometric.com.

Forward-Looking Statements: Certain matters discussed within this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company's ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new business and limited capital. Further factors affecting future performance are detailed in the Company's 10-K and 10-Q on file with the SEC. The Company also has detailed financial information available on its website. The Company has allowed is SEC filings to go delinquent but is in the process of curing such delinquency.

Contact Information

  • FOR MORE INFORMATION CONTACT:

    Michael S. Williams
    Chairman of the Board
    480-759-9400, x-100