NEW HOPE, Pa., June 15, 2006 (PRIMEZONE) -- Graphco Holdings Corp., a Delaware corporation (Pink Sheets:GHCP), and NGM TEC, Inc. d/b/a VoiceVerified(tm), a New Jersey corporation (VoiceVerified), jointly announced today that the companies have entered into an agreement pursuant to which the agreement to merge previously announced on June 19, 2005 was terminated, in consideration for which Graphco received 2,068,000 shares of the common stock of VoiceVerified, with certain additional contingent shares that may be issued in the future, as well as $105,000, almost all of which is specifically earmarked to update its audits and filings. Immediately prior to this transaction, VoiceVerified had issued and outstanding 16,255,230 shares of common stock. In addition, Graphco has granted to VoiceVerified an exclusive worldwide license of Graphco's VoicePass(tm), a text independent voice identification and verification engine and technology, excepting most uses for access control, which rights will remain with Graphco. The VoicePass(tm) license agreement also provides for cross-licensing of non-access control uses from VoiceVerified to Graphco and cross-licensing of access control uses from Graphco to VoiceVerified.
VoiceVerified is a private technology, software and systems development and licensing company that provides advanced proprietary solutions for the protection of personal identities. Through its non-intrusive biometric voice verification technology, VoiceVerified's systems enable current and prospective enterprise customers, both large and small, to securely, reliably, economically and easily integrate voice verification application access and related solutions into their existing commercial processes and technologies. The markets to which VoiceVerified is focused on offering its services include, among others, a wide variety of businesses including banks, credit card issuers, business service providers, health care providers, insurance companies, compliance solution providers, online verification service providers, personal identification service providers, credit unions and online retailers.
"We are extremely enthusiastic about the synergies here. The combination of Graphco's and VoiceVerified's unique voice biometric technologies, along with VoiceVerified's marketing and engineering capabilities and leadership, have strategically positioned VoiceVerified among the growing number of firms in the voice biometric industry," explained Jeffrey D. Randol, CEO of VoiceVerified. Mr. Randol went on to comment that "Graphco's text-independent voice biometric engine is expected to serve as an important complement to our existing byVoice(tm) numeric-based voice verification technology, which operates on both telephony and computer-based platforms."
VoiceVerified has launched a fully-automated voice enrollment and verification Point Service Provider (PSP)(tm) platform that automates biometric verification for use by contact centers, banks, merchants, brokerages, agencies, employers, and organizations that must protect the identity and privacy of their consumers, employees and/or citizens. Delivered through a secure Point Service Provider (PSP)(tm) platform, the telephony-based service requires virtually no hardware, licensed software or modifications to existing systems. For more information, visit www.voiceverified.com.
About Graphco Holdings Corp.
Graphco Holdings Corp. (www.graphcoholdings.com) is a development-stage public technology and licensing company with an emphasis in biometric identification technologies and secured access. In addition to 2,068,000 shares of VoiceVerified common stock, Graphco holds a minority equity interest in Advanced Logic Systems, Inc. (www.advancedlogicsys.com).
For additional information on NGM TEC, Inc. d/b/a VoiceVerified(tm), contact the main office at 215-862-7800 or visit www.voiceverified.com.
Statements made in this press release that are not of a historical nature are forward-looking statements that involve risks and uncertainties, including, but not limited to, those set forth in the Graphco's filings with the Securities and Exchange Commission. These forward-looking statements are identified by the use of terms and phrases such as "contemplates," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectations.
This press release shall not be construed to constitute an offer to sell or a solicitation of an offer to buy securities.