SOURCE: Dynamic Biometric Systems, Inc.

June 14, 2010 13:13 ET

The Memorabilia Registry Announced by Dynamic Biometric Systems, Inc., Reduces the Exercise Price of the Series "B" Warrants Until July 15, 2010

PHOENIX, AZ--(Marketwire - June 14, 2010) - Dynamic Biometric Systems, Inc. (PINKSHEETS: DYBO), a Nevada corporation (the "Company"), announced on Saturday, June 12 at the International Autograph Society Convention in Kesswil, Switzerland, its new business, The Memorabilia Registry ("MemReg") and its related website, www.memreg.com. Dr. Richard Kim, the Company's CEO, was a featured speaker at the Convention. His topic was electronic signature authentication and memorabilia tracking and transfer. MemReg will operate through a wholly owned subsidiary, Memorabilia Registry Corp. The Company's existing business, related to the manufacture and development of the Bio-Pen and related software, is already in a wholly owned subsidiary, DynaSig Corp. 

MemReg's mission is to provide complex search capability of unique, collectible items and related information and provide trusted, third-party time-stamped history ("provenance") for all registered items and such items' supporting documentation. There will initially be no charge for registering memorabilia items and supporting documentation such as pictures taken at signing, authentication certificates and other related information. Pictures of the item plus supporting documents will be maintained and displayed via the Company's web site, www.memreg.com. The Company has been developing the site for more than eight months and it is currently in beta testing and receiving feedback from dealers and collectors. As soon as testing is complete the site will be opened for active use.

Each Registered item will receive a unique number which will follow this item regardless of subsequent ownership. Owners may control viewer access to any of their items. MemReg will be a centralized depository where these unique items may be managed and shared. It will also provide a searchable database of signers for collectors and dealers. The site will provide tools to capture and view provenance and facilitate secure item ownership transfer. It will offer external links to collector and dealer websites, blogs regarding content matter and videos. The Company holds and has pending patents related to both Bio-Pen and MemReg.

The memorabilia market is disorganized and fragmented. Collectors and dealers present their collections for sale or view in no standard format and with varying search capability. There is no comprehensive, cross participant market search capability. Although the memorabilia market is huge, market participants are constrained by rampant fraud. MemReg will offer this search capacity and integrate it with the exploding Social Network phenomena. MemReg will not function as a sales site, but at the option of an item's owner MemReg can provide links from such items to sites as such as eBay.com or a dealer website. MemReg's revenue model will initially be a combination of advertising and Transfer of Title services, including actual escrow services to facilitate high value transfers. Transfer of Title services will preserve the original time stamp of the item and all supporting data and provenance information. The Company believes that a unique value of MemReg is that the intrinsic value of a registered item will increase the longer it has been registered. As the number of registered items increase and those items become more valuable with time, the Company believes that the value of the MemReg Registry will continually increase. On March 24, 2010 MemReg filed a utility patent application on its Registry and other features. 

As part of its overall MemReg plan, DBSI also announced that it has temporarily reduced the price of its Series B Warrants from $2.00 to $.25. All net proceeds from the warrant exercise will be invested in MemReg or used for regulatory requirements. There are 8,423,491 warrants in Series B. This price will revert to the original $2.00 price on July 15, 2010, 5:01 p.m. Phoenix Arizona time. DBSI has four other Warrant series, the "C" and "D" warrants, with a $3.00 exercise price, and the "E" and "F" warrants, with a $4.00 exercise price. Each Series has an equal number of warrants. Any warrant can be called for $.0001 and expire on December 31, 2010 unless extended at the Company's sole discretion. The Company currently has approximately 14,200,000 common shares outstanding and preferred shares and debt which convert into approximately 4,735,000 additional common shares at the option of the holders or upon certain events subject to anti-dilution adjustments. The Company also has granted 1,500,000 employee options outstanding with an average exercise price of $0.50.

About DBSI
Dynamic Biometric Systems, Inc., MemReg's parent currently trades on the Pink Sheets under the symbol DYBO. Information on the Company, including consolidated financial information for the year ending 12/31/09, and its two wholly owned operating subsidiaries is available on the Company's web site www.dynamicbiometric.com. Since 2003, the Company has been developing proprietary hardware (the "Bio-Pen") and its related proprietary software to allow for the verification of dynamic signatures (together the "DynaSig System"). This highly sophisticated system captures the unique act of signing rather than the signature image. The DynaSig system is an optimal autograph authentication device and was the intellectual foundation of MemReg. The Company intends to exploit this capacity but developed MemReg to provides services for the millions of items already in existence. DBSI's office is located at 9830 S. 51st St., Suite A-124 Phoenix, AZ 85044 and its phone number is (480) 705-9110. The Company was registered with the SEC but is delinquent in its reporting requirements due to failure to provide audited financial statements. The Company plans to cure this deficiency when it can obtain adequate funding. The Company expects to continue to publish and post its financial information for investors on its web site.

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 Financial Statements posted on its web site.

Contact Information

  • FOR MORE INFORMATION CONTACT:
    Michael S. Williams
    Chairman of the Board
    480-759-9400, x100