delSECUR announces official completion of the asset purchase agreement with QTech Systems

As previously announced delSECUR CORPORATION, of South Burlington, had received shareholder approval to sell its Intellectual Property Assets to QTECH SYSTEMS INC., an Ontario company. The agreement was finalized on October 24th and the patent has been officially transferred to QTECH from Pierre de Lanauze on November 17th, 2009.
This transaction has resulted in delSECUR CORPORATION becoming the holder of 49% of QTECH's stock. QTECH SYSTEMS INC. is a privately held company based in Brantford, Ontario and is managed primarily by John Johnston, CEO, who has an extensive background in the technology field. Mr. McCormick, CEO of delSECUR CORPORATION has been elected to the board of directors, one of two seats to which delSECUR CORPORATION is entitled. Along with his technical staff Mr. Johnston is "excited about the prospects of testing and proving the del-ID technology" invented by Pierre de Lanauze who will stay on staff as a consultant. QTECH, who have primarily focused upon digital facial scan biometrics up until now see a real need in the marketplace for finger scan imaging, "especially if it is differentiated from digital fingerprinting, as emphasized in Mr. de Lanauze's patent," said Mr. Johnston.
In other news, as part of a restructuring following the QTECH transaction, on November 5th, 2009, delSECUR CORPORATION management placed its Montreal subsidiary into bankruptcy. This subsidiary was insolvent and had earlier lost its right to commercialize the del-ID technology.
This restructuring will have no impact on delSECUR CORPORATION and its stockholders. Clearly the interests of delSECUR CORPORATION and its stockholders rests in the success of QTECH and the del-ID technology.
delSECUR CORPORATION, a public company (Pink Sheets: DLSC) with its head office in S. Burlington, VT has been involved in the development of a unique authentication process based on abstract images of biological data collected from the fingers of living persons. This technology has just been sold to QTECH SYSTEMS Inc. in exchange for 49% of their company going to delSECUR CORPORATION.
This Press Release may contain forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements and are subject to the risks normally associated with the completion of a corporate transaction. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.
SOURCE delSECUR CORPORATION. SOUTH BURLINGTON, Vt., Nov. 19 /PRNewswire-FirstCall/ --