LAKE WORTH, Fla., June 27, 2011 /PRNewswire/ — Graphic Security Systems Corporation (GSSC) and Nautilus (GB) Limited (Nautilus) are pleased to announce that the legal actions between them in the United States and in Northern Ireland (also including GSSC CEO Thomas Alasia and Nautilus Chairman Ralph Chalmers) have been resolved amicably. Nautilus and its Chairman Ralph Chalmers acknowledge and respect GSSCs technology in the brand protection and document security industry, including the ground-breaking role of GSSCs founder, the late Alfred V. Alasia, Sr. For their part, GSSC and its CEO Thomas C Alasia acknowledge the rightful place of Nautilus in this industry sector and of technological advances which Nautilus are developing. Furthermore, GSSC and Tom Alasia readily acknowledge the respect and integrity of Ralph Chalmers both in his capacity as Chairman of Nautilus and in his wider role as a long-term businessman and entrepreneur. GSSC and Nautilus pledge to respect each others intellectual property and to promote the respect of each others intellectual property throughout the industry. All parties look forward to developing their respective business strategies in the field of brand protection and document security, with respect and goodwill towards each other, and to working together when suitable opportunities arise.
Scott Perkins, Chief Operating Officer
Graphic Security Systems Corporation
SOURCE Graphic Security Systems Corporation