|[November 30, 2012]
Intellicheck Mobilisa's CEO Issues Update Letter to Shareholders
PORT TOWNSEND, Wash. --(Business Wire)--
Nelson Ludlow, Ph.D., President and CEO of Intellicheck Mobilisa, Inc.
(NYSE MKT: IDN) ("the Company"), a global leader in access control and
wireless security systems, today issued the following letter to
Dear Fellow Shareholders,
Along with many of you, I was deeply concerned by the recent news
regarding the Company's performance in the third quarter of 2012.
Specifically worrisome is that new bookings were down about 50 percent
for the first nine months of 2012, and down 78 percent for the third
As I begin my tenure as your new CEO, I am meeting with our customers,
reviewing all business pending, and making several internal changes to
emphasize new product development, provide stronger customer service,
complete partnership agreements and increase emphasis on closing sales.
I do not anticipate a strong ending for 2012. The changes we are making
will not have an immediate impact on recognized revenue in just a few
weeks; rather, the goal is to make the company healthier over the next
several quarters throughout 2013.
As we close new business, hire senior management and release new
products, we will issue press releases to best keep you as shareholders
informed, so that you may monitor our progress.
I ask for your continued upport,
Nelson Ludlow, Ph.D.
About Intellicheck Mobilisa
Intellicheck Mobilisa is a leading technology company that is engaged in
developing and marketing wireless technology and identity systems for
various applications, including mobile and handheld access control and
security systems for the government, military and commercial markets.
Products include the Fugitive Finder system, an advanced ID card access
control product currently protecting military bases and secure federal
locations; ID Check, a patented technology that instantly reads,
analyzes, and verifies encoded data in magnetic stripes and barcodes on
government-issued IDs from U.S. and Canadian jurisdictions, designed to
improve the Customer Experience for the financial, hospitality and
retail sectors; and Aegeus, a wireless security buoy system for the
government, military and oil industry. For more news and information on
Intellicheck Mobilisa, please visit www.icmobil.com.
Safe Harbor Statement
Certain statements in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. When used in this press release, words
such as "will," "believe," "expect," "anticipate," "encouraged," and
similar expressions, as they relate to the company or its management, as
well as assumptions made by and information currently available to the
company's management identify forward-looking statements. Actual results
may differ materially from the information presented here. Additional
information concerning forward-looking statements is contained under the
heading of risk factors listed from time to time in the company's
filings with the SEC (News - Alert). We do not assume any obligation to update the
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