*I sure hate to write Verichip off, because the human-injectable RFID legendry has more lives than an freshly-tagged cat. Also, I'm gonna miss 'em, because Verichip press stories quite literally wrote themselves, thanks to the extensive PR talents of Verichip's chairman.
*Still, if Verichip (CHIP) is really going to vanish from the NASDAQ, there will be no more reason to pump its stock price by creating a host of mostly-imaginary RFID scandals. So, yeah, except for the glass in the flesh of a few dozen customers – mostly cops and the elderly, I reckon – it'll leave no trace.
*The advent of VeriGreen, which is sitting there placidly expecting to sop up a flood of Obama Florida green-energy funding, has got to be terrific news for the legitimate RFID business.
I wouldn't say that Verichip has been a glass splinter in their flesh, exactly, but, well, yeah, it has. Remember when
Verichip volunteered to tag the bloated Katrina corpses?
Remember when Verichip volunteered to tag illegal
Mexican aliens? Remember when...
*Okay, they're not gonna remember. Nobody will. But it was an awesome thing to see.
Thursday, March 12, 2009, 9:27am EDT | Modified: Thursday, March 12, 2009, 9:34am
VeriChip faces NASDAQ delisting
South Florida Business Journal
VeriChip Corp. said late Wednesday that NASDAQ has notified it that it’s not in compliance with listing requirements. Specifically, NASDAQ said it does not have the $10 million in stockholders’ equity required for continued listing on the stock market.
The Delray Beach-based company (NASDAQ: CHIP) also was told that it does not meet the requirements for continued listing on the NASDAQ Capital Market because its $2.4 million in stockholders’ equity as of Dec. 31 is below the $2.5 million requirement.
VeriChip develops, manufactures and markets implantable microchips.
Shares closed Wednesday at 33 cents. The 52-week high was $2.93 on March 14. The 52-week low was 24 cents on Nov. 12.
***************************************
March 12, 2009 08:30 AM Eastern Daylight Time
VeriChip’s Chairman Comments on Clean Energy Trends and is Featured in South Florida Business Journal
DELRAY BEACH, Fla.–(BUSINESS WIRE)–VeriChip Corporation (NASDAQ:CHIP) (“VeriChip” or the “Company”) announced today that its Chairman, Scott R. Silverman, has commented on Clean Edge, Inc.’s Clean Energy Trends 2009 report, which forecasts growth in biofuels from $34.8 billion in 2008 to $105.4 billion by 2018, and has spoken to the South Florida Business Journal about the Company’s new subsidiary, VeriGreen Energy Corporation, and the types of alternative energy opportunities the Company is considering. The complete interview can be found on the South Florida Business Journal’s website: http://southflorida.bizjournals.com/southflorida/stories/2009/03/02/daily71.html.
Mr. Silverman stated, “As evidenced by Clean Edge’s recent report, the biofuels industry is forecasted to experience significant growth in the coming years. Furthermore, to the benefit of many established, smaller businesses, the American Recovery and Reinvestment Act of 2009 will inject billions into renewable and alternative energies, thereby creating jobs, improving the economy and our environment. The stimulus package is expected to promote renewable and clean energies by offering tax incentives, bonds, grants and other financial assistance. Through the formation of VeriChip’s new subsidiary, VeriGreen Energy Corporation, and the investments we are evaluating, we will be well positioned to participate in those initiatives.”
Mr. Silverman continued, “As others may invest in start-ups in the alternative energy sector, we are looking particularly at existing operations with revenues and, in some cases, earnings. We are not interested in being a pure venture capital play for companies that have no revenues and no earnings.”
About VeriChip Corporation
VeriChip Corporation, headquartered in Delray Beach, Florida, has developed the VeriMed™ Health Link System for rapidly and accurately identifying people who arrive in an emergency room and are unable to communicate. This system uses the first human-implantable passive RFID microchip, cleared for medical use in October 2004 by the United States Food and Drug Administration. VeriChip also recently announced the formation of its VeriGreen Energy Corporation division, which will invest in the clean and alternative energy sector, to complement its healthcare division.
For more information on VeriChip, please call 1-800-970-2447, or e-mail [email protected]. Additional information can be found online at www.verichipcorp.com.
Statements about VeriChip’s future expectations, including future revenues and earnings, the growth of biofuels as forecast by Clean Edge, Inc., the Company’s ability to find and invest in clean and alternative energy companies, particularly those with revenues and earnings, the ability of the American Recovery and Reinvestment Act of 2009 to create jobs, improve the economy and the environment, and the Company’s ability to capitalize on the investments the Obama administration is making in energy, and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and VeriChip’s actual results could differ materially from expected results. Additional information about these and other factors that could affect the Company’s business is set forth in the Company’s various filings with the Securities and Exchange Commission, including those set forth in the Company’s 10-K filed on February 12, 2009, under the caption “Risk Factors.” The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
