SOURCE: Applied Visual Sciences (formerly Guardian Technologies International)
Ticker Symbol Changes to APVS
HERNDON, VA–(Marketwire – July 20, 2010) – Guardian Technologies International, Inc.‘s (
GDTI has achieved certain significant corporate lifecycle milestones that necessitate a different corporate structure. The new structure will segregate distinct business operations into separate corporate entities, all under a single umbrella organization. The parent company, Applied Visual Sciences, will be the sole shareholder in two subsidiaries: Guardian Technologies — the homeland security/defense technology entity and Signature Mapping Medical Sciences, Inc. — the healthcare technology entity. APVS will maintain ownership of all existing and in-process patents, as well as any future patentable technology developed by its research and development staffs or developed as a tangential application of its core patented technologies. The subsidiaries will be the business operations focused on new product development, marketing, and sales for their respective markets.
The new structure will enable APVS to realize the following benefits:
Creation of autonomous business units with defined measurable goals and objectives;
Alignment of risk characteristics to the specific product, line of business or foreign market;
Provide a level of legal risk insulation to the core assets, the patents & intellectual property;
Flexibility to maximize tax benefits, both domestic & foreign;
Flexibility and ease in negotiating and structuring mergers, acquisitions, joint ventures, or joint development partnerships;
Facilitate the potential “spin-off” or sale of one of the subsidiary entities;
Attract industry-specific investment.
The restructuring will be completed immediately as APVS is poised for strategic developments that include:
introduction of its tuberculosis diagnostics system, Signature Mapping TBDx™, into the South African market,
commencing joint development with the Indian government of a TBDx™ application specific to their market,
negotiations underway to form a joint venture for the development of a suite of breast cancer detection applications, and
numerous domestic and international sales opportunities for Guardian’s PinPoint™ automated explosives and threat detection system.
Michael W. Trudnak, Chairman and CEO of Applied Visual Sciences, states, “As we transition from technology and product R&D to commercialization, we are putting the structure in place that will enable rapid revenue growth and expansion to advance the Company to the next level of corporate development. This new corporate structure provides the Board and management with total flexibility to maximize shareholder value.”
Current shareholders may visit http://www.guardiantechintl.com/pdfs/QA_APVS_July2010.pdf for details on how the changes will affect their investment and for instructions relating to the new ticker symbol, APVS.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the company’s cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company’s most recent filings with the Securities and Exchange Commission.
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