Insurers Underwrite Implementation, Confident of Crime Deterrence
STONY BROOK, NY--(Marketwire - 05/05/11) - Applied DNA Sciences, Inc. (OTC.BB:APDN - News), a provider of DNA-based security solutions, announces the successful launch of SmartDNA™ in Sweden by a country-wide collaboration involving the Swedish National Police, SKL (National Forensic Laboratory), a large Scandinavian Insurance company, Safe Solution, and APDN. Initially, eight Swedish jewelry stores have installed a total of 15 SmartDNA spray units. Initial installation at all jewelry stores in this large chain could result in initial revenues of up to $400,000 to APDN with similar renewal fees of $250,000 every 18 months.
APDN is now exploring installations at Jewelers globally
SmartDNA is a unique and patented security system based on botanical DNA, a completely new and effective crime protection system for stores, warehouses, banks, pharmacies, ATMs and the protection of valuables. The system contains a water-based, non-toxic spray which may be triggered during a crime, marking the perpetrator and remaining on their person for weeks after the crime. Each SmartDNA product is designed to be unique to each store, warehouse or sting operation allowing the police and prosecutors to link criminals to the crimes.
Swedish retailers are installing Smart DNA Crime Deterrence Systems. The number of stores within the initial jewelry chain is expected to sharply rise. Additional jewelry chains and associations have inquired about SmartDNA, as well as banks, pharmacies and ATM owners.
"SmartDNA is the perfect crime deterrent for the retail environment," stated Dr. James Hayward, APDN's CEO. "It is well suited for special vulnerabilities, such as those found with ATMs or in banks"
How SmartDNA Works
When a break-in occurs, the system is activated either by an automatic detection trigger or at the push of a button by the store clerk. The Smart DNA Spray systems are mounted strategically over a jewelry case or near the entrance door of the store.
In the event of a robbery or other crime, the water-based SmartDNA is forcefully released. Police and detectives can then use a special detection device to visually see that the spray from the scene of the crime is present and sample the spray remnant for DNA verification.
Benefits of the SmartDNA Partnership
The likelihood of catching a burglar involved in a heist of a store or retail location equipped with Smart DNA System increases the chances of apprehending and proving the identity of the criminal significantly. In fact, the insurance company involved in this strategic partnership is so convinced, that they are significantly lowering deductibles and giving incentives for their customers to use the Smart DNA system in partnership with the police.
The benefits derived are a safer working environment for the retail employees, reduced risk of loss to the insurer, and the risks to the criminal element are raised creating a deterrent to rob a location that advertises: "Protected by Smart DNA."
About APDN
APDN sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied, and provide a forensic chain of evidence that can be used to prosecute perpetrators. 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.
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