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    Jim Denning
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  • Jim Denning
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    its this that will over turn most of what we know to be true now like all science it changes with discoveries

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  • Jim Denning
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  • Jim Denning
    started a topic why the science gets better

    why the science gets better

    Applied DNA Sciences Inc. Receives $5,482,993 Million Funding; Investment Enables Faster Roll Out of Advanced DNA Security Devices


    LOS ANGELES & NEW YORK--(BUSINESS WIRE)----Applied DNA Sciences, Inc. (OTCBB:APDN) reported today that its Managing Investment Banker, New York-based Vertical Capital Partners, Inc. www.verticalcp.com (Members of the NASD SIPC And MSRB) along with participation from other funds and investors, has closed on $5,482,993 of funding for APDN. In addition, Vertical Capital Partners' clients converted over $1,500,000 in bridge loan notes issued in November, 2003, into common shares of the company. Applied DNA Sciences will use the funds to speed research, development and distribution of its advanced DNA security programs.

    Peter Brocklesby, president of Applied DNA Sciences, expressed his gratification at Vertical's successful funding of the transaction, saying, "Vertical Capital Partners has been a strong source of funding and support for Applied DNA Sciences. Their role as our Managing Investment Banker has proven to be a significant assets as we transition from an early stage development Company to an operating, licensing, manufacturing and distribution Company. We appreciate Vertical's commitment, trust and vision with respect to our technology, and we look forward to continuing our profitable association."

    Robert Fallah, Co-Chairman of Vertical Capital Partners, Inc. added: "We continue to remain very bullish on the potential revenue prospects for Applied DNA, particularly at this juncture where the new management team that Mr. Brockelsby has installed, has been ably leading the company through its evolution from a development stage company to a commercially successful one. What we find most exciting is that the company's proprietary technology has an extraordinarily broad breadth of applications, each of which present significant revenue opportunities for the company."

    Applied DNA Sciences extracts and recombines botanical DNA codes to create a virtually foolproof method to prove product authenticity, detect fakes and protect supply chain integrity. The technology provides overt and covert protection for corporations, governments and consumers against counterfeiting, fraud, theft, piracy, product diversion and adulteration, identity theft and unauthorized intrusion into secure facilities and databases.

    Brocklesby continued: "The demand for ADNAS' fail-safe anti-counterfeiting technology from governments and manufacturers from around the world requires us to add more research staff and equipment for production of our growing inventory of proprietary and unique security devices. We recently concluded arrangements for fabrication of the world's first DNA-Hologram, in conjunction with Holomex, and signed a Cooperative Research and Development Agreement (CRADA) with the Department of Energy's laboratory in Idaho to develop the next generation of rapid analytical tools used for DNA analysis, to enhance speed, efficiency and expand the utility of the Applied DNA security marker technology."

    About Applied DNA Sciences, Inc.

    Applied DNA Sciences, Inc. provides proprietary DNA-embedded biotechnology security solutions, using botanical DNA, to verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion. Applied DNA Sciences has an exclusive licensing and partnership agreement covering North America, Latin America, Europe and the Mid-East with Biowell Technology, Inc. (http://www.biowell.com.tw/eng) of Taiwan. The company develops markets, and sub-licenses DNA security systems, supply-chain management systems and anti-counterfeit solutions. Applied DNA Sciences' technology addresses the more than $350 billion of counterfeit products sold each year as well as the multi-billion dollar Homeland Security market. The company is headquartered at 9229 West Sunset Boulevard, Los Angeles, CA 90069; Tel: 310-860-1362; Fax: 310-860-1303 or visit www.ADNAS.com.

    The statements made by Applied DNA Sciences, Inc. (the Company) 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 the Company'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 Applied DNA Sciences, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The Company 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.

    Applied DNA Sciences, Inc. Adrian Butash, 310-860-1362 [email protected] or Public Communications Company Michael Selsman, 310-553-5732 [email protected] or SFC Financial Services Jeff Salzwedel, 503-722-7300 [email protected]

    01/26/2005 09:30 ET
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