The Company also disclosed that it is in discussions with economic development officials in several alternative locations, all of whom have indicated strong interest in recruiting the Company's operations to their respective communities.

SmartMetric President and CEO Colin Hendrick stated, "The Company is extremely excited to move from Research & Development to commercial manufacturing and production. The planned facilities will utilize the Company's proprietary expertise in sub-micro electronics. Banking cards of the future using the Company's technology will allow consumers to engage in totally secure commercial transactions with no need for vulnerable pin numbers. Instead, a person's fingerprint will activate the user's card. There are vulnerabilities in Banking Security, Health Records, and similar personal privacy issues that will experience new levels of security in the use of the company's products and services." Mr. Hendrick also added, "Since the card stores the user's fingerprint inside the user's card, it is therefore far more secure than any other system that needs to connect to a fingerprint database for identity verification."