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 shareholders:
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 quarter.
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 support, Nelson Ludlow, Ph.D.CEO 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. We do not assume any obligation to update the forward-looking information.