SOURCE: Where Food Comes From

Where Food Comes From

May 09, 2013 07:00 ET

Where Food Comes From®, Inc. Advises Investors on Company's Readiness to Address USDA's New Animal Disease Traceability Program

CASTLE ROCK, CO--(Marketwired - May 9, 2013) - Where Food Comes From, Inc. (d.b.a. IMI Global, Inc.) (OTCQB: WFCF), a leading provider of verification and Internet solutions for the agricultural/livestock industry, today updated investors on its ability to manage growth in demand for its source verification services due to the USDA's recently announced Animal Disease Traceability (ADT) program (http://www.aphis.usda.gov/traceability/).

The USDA's Final Rule for Traceability for Livestock Moving Interstate, released on January 9, 2013, is designed to establish a system of tools and safeguards to help officials target when and where animal diseases occur and then respond quickly and effectively to such occurrences.

Where Food Comes From, through its IMI Global business unit, is the nation's largest provider of cattle source verification services, with more than 6,000 customers that include cattle ranchers, feeding operations and meat packers. The Company is recognized as the industry leader for USDA Process Verified Programs in the beef and pork industries.

The USDA ADT program will be phased in over time and potentially affect up to 800,000 cattle ranchers in coming years. The Final Rule initially focuses on beef breeding cattle over 18 months of age, all dairy cattle and any livestock used for exposition or show. IMI is prepared to assist producers in the transition to new and future official animal identification requirements for livestock.

John Saunders, chairman and CEO of Where Food Comes From, said, "We have reviewed the USDA's new ADT program and are supportive of the objective to quickly trace an animal disease outbreak to its source anywhere in the United States. We currently source verify more cattle than any other US company, including an estimated 50% of all US beef exports. We have advanced systems in place that include proprietary web-based applications, protocols and procedures to complement a geographically diverse base of professional auditors. Our model is highly scalable and we believe we can ramp up very quickly to accommodate increased demand for our source verification services as more cattle producers come into compliance with the USDA's new program."

About Where Food Comes From, Inc.
Where Food Comes From, Inc. (d.b.a. IMI Global) is America's leading provider of third-party identification, verification and traceability solutions for the food industry. The Company supports more than 6,000 farmers, ranchers, processors, retailers and restaurants with a wide variety of value-added services through their IMI Global (IMI) and International Certification Services, Inc. (ICS) verification divisions. In addition, the Company's Where Food Comes From® retail and restaurant labeling program utilizes the verification of product attributes to connect consumers to the sources of the food they purchase through product labeling and web-based information sharing and education. Go to www.wherefoodcomesfrom.com for additional information.

CAUTIONARY STATEMENT
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company's predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership; the effect the USDA's ADT program will have on demand for source verification services; the Company's ability to handle increased demand; demand for, and impact and efficacy of, the Company's products and services on the marketplace, are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Financial results for the third quarter and nine-month period are not necessarily indicative of future results. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company's business, please refer to the Company's SEC filings at www.sec.gov.

Contact Information

  • Company Contact:

    Kathryn Britton
    Marketing Director
    303-895-3002

    Investor Relations Contact:

    Jay Pfeiffer
    Pfeiffer High Investor Relations, Inc.
    303-393-7044