SOUTH BURLINGTON, Vt., April 15, 2011 /PRNewswire/ -- As previously announced on April 4th, 2011 delSECUR CORPORATION intends to dissolve itself. The Corporation has confirmed that it has now received majority shareholder consent approval and that it will begin to distribute, a portion of its assets consisting of QTech shares to its Lenders. Once completed, it will then distribute its entire remaining asset, the balance of the QTech shares, to delSECUR CORPORATION shareholders in the form of a "liquidating dividend" on a pro-rata basis.
All shareholders will be contacted in writing by the Corporation or its transfer agent and will be requested to verify their shareholding status and current address.
As mentioned in the April 4th announcement, QTech is currently being funded from the private sector through the method of Convertible Debentures. With proper guidance from the investment community, QTech will seek additional financing by other conventional methods. "Suffice it to say that the company will explore all of its options on an ongoing basis. We are very confident that QTech will reach its financial objectives as required to bring the technology to the commercialization stage and we foresee a bright future for all QTech shareholders," said Randall McCormick, President of delSECUR.
"Now having received shareholder approval delSECUR will immediately start the process of dissolution of the Corporation and distribution of QTech shares to its lenders and then to its shareholders," he added.
delSECUR CORPORATION, a public company (Pink Sheets: DLSC) with its head office in S. Burlington, VT, has been involved in the development of a unique authentication process based on abstract images of biological data collected from the fingers of living persons. This technology was sold, under the terms of an Asset Purchase Agreement, in October 2009 to QTech Systems Inc., a private Ontario company in exchange for 49% of the shares of that company. For further information on QTech visit their website www.qtechid.com.
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SOURCE delSECUR CORPORATION