October 3, 2008
US Navy Funds $3.18 Million to Intellicheck Mobilisa to Extend R&D
Intelli-Check - Mobilisa, Inc. (AMEX: IDN) is pleased to announce that after a recent successful demonstration of its technology at major naval exercise, Trident Warrior 2008, the US Navy added a task order for $3.18 million to extend IDN's research and development of its Wireless Over Water (WOW) technology.
WOW projects include both the Floating Area Network (FAN) and Wireless Port Protection Buoys to protect ships, harbors, and even monitor water quality and alert if an oil spill is detected.
"With the recent change now authorizing new off-shore drilling, the need for our high-tech oil-spill detection buoys could not be timelier. They could immediately alert the oil companies, Coast Guard and other agencies to oil spills or other potential hazards, improving safety and the environment," said CEO Dr. Nelson Ludlow.
The funding represents a formal task order from the US Navy to begin immediate work and is part of the Company's previously announced backlog. The work is expected to be completed over the next 24 months.
Intellicheck Mobilisa is a leading technology company, developing and marketing wireless technology and identity systems for various applications including: mobile and handheld wireless devices for the government, military and commercial markets. Products include the Defense ID system, an advanced ID card access control product currently protecting over 50 military and federal locations. ID-Check is a technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issue IDs from approximately 60 U.S. and Canadian jurisdictions to determine if the content and format are valid.
Safe Harbor Statement
Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. When used in this press release, words such as "will,""believe,""expect,""anticipate,""encouraged" and similar expressions, as they relate to the company or its management, as well as assumptions made by and information currently available to the company's management identify forward-looking statements. Actual results may differ materially from the information presented here. Additional information concerning forward looking statements is contained under the heading of risk factors listed from time to time in the company's filings with the SEC. We do not assume any obligation to update the forward-looking information.