News
Secured Digital to Introduce Nano Chip RFID Embedded Paper
Secured Digital Applications, Inc. (OTCBB:SDGL), a leading provider of Business Process Outsourcing (BPO) services and systems integrator for Radio Frequency Identification (RFID) enabled tracking applications, reported today that Patrick Lim, Chairman and CEO of the Company, introduced the long awaited nano chip RFID embedded paper at the Company's annual meeting of shareholders in Irvine, CA on August 3, 2007. The Company believes that the RFID paper is the first of its kind in the market.
The Company intends to launch the RFID paper in the United States during the fourth quarter of 2007. This versatile security identification paper can be tracked through the Internet.
At the meeting, Lim reported total shareholders' equity as at December 31, 2006 increased by $2.4 million to $8.5 million, a 39% improvement over 2005. Lim also stated that the current year has started on an encouraging note. During the first quarter, the Company recorded gross revenue of $10.3 million and net income of $311,000. For the second quarter of 2007, the Company is expecting to record revenues of approximately $10.5 million and anticipates improved earnings in excess of $650,000 for the six-month period ended June 30, 2007 compared to a net loss of $23,000 for the six-month period ended June 30, 2006.
Lim further commented that the Company has completed its transformation into an integrated financial accounting and RFID tracking BPO service provider. The transformation process started when it acquired several enterprises in 2003. The core competencies of these enterprises laid the foundation for the Company’s BPO services.
The Company has endeavored to differentiate itself from other BPO service providers by delivering an integrated online service permitting enterprises to have a daily pulse on the financial health of their operations as well as having real-time visibility and tracking the physical movement of their goods, assets and personnel.
The Company said that it is in the process of appointing sales partners in China, Australia and the United States to promote its products and services in these countries.