STONY BROOK, NY--(Marketwire - January 20, 2011) - Applied DNA Sciences, Inc. (
"Reducing counterfeiting and improper gray marketing activity is important for maintaining the highest possible standards of product quality and reliability and ensuring that customers' service and support requirements are met. The financial impact and customer satisfaction issues resulting from the gray and counterfeit market are significant. Once products become diverted, they are often misrepresented and unsuspecting customers have no assurance that the products they're buying are new, genuine and have not been tampered with. SigNature DNA taggants can mark virtually any material and can address this problem, providing brand security and counterfeit protection," commented Mr. McIntosh.
Protecting Technology Supply Chains
AGMA is a non-profit organization incorporated in 2001 and is comprised of leading technology companies committed to addressing the global impact of the gray marketing and counterfeiting of technology products. Combined annual revenues of the members of AGMA exceed $300 billion. Founding members of the group are 3Com, Cisco Systems, Hewlett-Packard and Nortel. The goals of AGMA are to protect the authorized distribution channels and intellectual property of authorized goods in order to improve customer satisfaction and preserve brand integrity.
Eliminating Counterfeits and Diversion
In the case of high technology, counterfeit products can be comprised of individual components, whole parts, finished product, packaging, documentation, software and even the cartons and boxes that finished goods are shipped in. Counterfeit product initially will be sold through tightly held broker networks established by the counterfeiter. Beyond those brokers, counterfeit product many times will then enter the gray market infrastructure thus causing confusion and a higher risk that the channel and end users may be subject to purchasing and receiving non-genuine goods. The entrance of counterfeit goods can occur anywhere in the distribution cycle. Thus, eventually counterfeit products can become co-mingled with genuine products and sold through the gray market thus making distinguishing between genuine and counterfeit extremely difficult.
About APDN
APDN sells patented DNA security solutions that provide anti-counterfeit protection, as well as protecting brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used for product authentication in a unique manner that essentially cannot be copied. When used in conjunction with other law enforcement technologies, SigNature DNA can provide a forensic chain of evidence that has been used successfully in more than 15 convictions. To learn more, go to www.adnas.com where APDN routinely posts all press releases.
The statements made by APDN may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K, filed on December 15, 2010 and our subsequent quarterly reports on Form 10-Q. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
Contact Information:
DIRECTOR, SALES:
Larry McIntosh
617.470.4822
fax: 631-444-8848
INVESTOR CONTACT:
Debbie Bailey
631-444-8090
fax: 631-444-8848
MEDIA CONTACT:
Janice Meraglia
631-444-6293
fax: 631-444-8848
FCMN Contact:
Web site: http://www.adnas.com