JERUSALEM, April 13, 2011 /PRNewswire/ -- IDenta Corp. (PINKSHEETS: IDTA) CEO Yaacov Shoham today issued the following update about events in Russia.
Baruch and Amichai Glattstein, representatives of IDenta Corp. have just returned from a very successful marketing trip to Russia.
The connection with Russia was done through the Israeli company Elkat , www.elkat.co.il. and was a response to a quick invitation.
Russia is very much interested in purchasing advanced western products and technology.
IDenta's different detection products have been chosen from many, many other western products and technologies (different fields, not only detection).
Therefore Russia has established a government investment company to purchase the selected products.
The result of the business trip is that Russia wants to sign an agreement with IDenta in the following issues:
1. At the beginning to purchase IDenta's different products, we are requesting a minimum order of 100,000 units.
2. Russia is very much interested in establishing a plant to manufacture IDenta's different products. (This plant will be in addition to the previously announced manufacturing plant in India.)
IDenta is ready to help in establishing the plant, where the ampoules (with the special secret chemical liquid with the plastic casing will be done in Israel only) will be placed into the sampler and the packaging process completed. Russia is willing to pay for the information to establish the plant.
Due the involvement and cooperation with the government investment company, we believe that IDenta's products are going to be used by a very large number of law and military agencies.
Russia has a huge illicit drug and explosive problem. The area of Russia is huge, the largest country in the world.
3. The Russian company is interested in investing in R&D with IDenta in the detection field. They do understand that Baruch Glattstein is the right scientist to develop such connections.
IDenta has proposed a two year R&D program.
Russia will invest a total of $1,000,000 in the program (payable to IDenta).
The new products developed as a result of the R&D will be marketed and sold in Russia only by the local Russian company.
IDenta will have the right to market and sell the new products in rest of the world.
Baruch and Amichai Glattstein along with representatives from Elkat also had a meeting with the Moscow (city) Director of the Internal Security Agency.
All of the parties involved in this business relationship are very dedicated to bringing it to a final signature in matter of three months.
Since 2003, IDenta Corporation has been recognized as a worldwide leader in the development of proprietary on-site drug, drug precursor and explosive detection kits. IDenta develops, manufactures and distributes products for both the professional and civil markets which consistently pass the highest qualifications and testing procedures of law enforcement and security agencies around the world.
Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements" that are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.
For Investor Relations, lobbying interests or information concerning IDenta's products internationally or the development of new chemical detectors, contact: Yaacov Shoham,
SOURCE Identa Corp.