SARASOTA, Fla., April 16, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Be alert! Radio frequency identification device (RFID) is coming to you, and faster than you may think. What is it? In a nutshell it's a small microchip that can be embedded in almost every thing there is, living or dead. Imagine a chip so small it can be planted in your clothes, jewelry, shoes, and your skin. When you purchase this object it keeps right on tracking. Come within a few feet or a hundred feet, maybe even a few miles in the near future, and the radio frequency activates the RFID chip. It knows where you are, what you are wearing, through the food wrappers even what you are eating. Talk about an invasion of privacy. Consumers, once they catch on to this will not be very happy about it.
But it some instances it makes good sense. Take Applied Digital Solutions, Inc. (Nasdaq:ADSXD). Applied announced that its wholly owned subsidiary, VeriChip Corporation, has entered into a memorandum of understanding ("MOU") with FN Manufacturing, a leading gun manufacturer to develop a first in the world of firearms. The team's objective is an integrated User Authorization System for firearms using Applied 's VeriChip RFID technology. In the security field, the company is actively developing applications for VeriChip in a variety of security, defense, homeland security and secure-access applications.
RFID Journal broke the news that Gillette Co. (NYSE:G) planned to purchase 500 million RFID tags from Alien Technology. Gillette will attach the chips to grooming products such as razors and razor blades that ship to Wal-Mart stores. And speaking of the retail giant, Wal-Mart Stores, Inc. (NYSE:WMT) mandated its top 100 suppliers to have all their cases and pallets "chipped" by January 1, 2005, which could equate into something like 8 billion tags a year.
At the size of a grain of sand, who will take notice? Unless the retailer alerts you and gives you the option to deactivate the chip at purchase. Deactivate? That's a good idea.
One such company, EnXnet, Inc. (OTCBB:EXNT) announced on Thursday that it has filed its latest patent application for a new Radio Frequency Identification Deactivation Device (RFID). Keyword, "Deactivation". EnXnet's emerging technology provides the solution to the personal privacy concerns of the ACLU and other personal privacy advocates to the widespread application of RFID Electronic Article Surveillance devices by its internal design and construction, which causes permanent deactivation of the RFID at the point of sale.
"This exciting new technology offers everyone in the product chain, from manufacturer to end user, assurance of product quality and integrity while protecting them from any invasion of privacy issues," said Ryan Corley, President of EnXnet, Inc. "We anticipate that the consumer product industries, from manufacturer to marketer, should be very receptive to this new invention."
EnXnet's revolutionary RFID technology will allow tracking and inventory control from the point of manufacture to the final retail sale of the product.
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