delSECUR CORPORATION reverses course and will not dissolve

As previously announced by delSECUR CORPORATION, it was in the final stages of dissolving itself and issuing a liquidating dividend in the form of QTECH shares to its shareholders. In order to take advantage of an opportunity for delSECUR and its shareholders, the board of Directors of delSECUR has agreed to acquire, in a private transaction, all of the QTECH shares held by its founding members.Hence,delSECUR will NOT dissolveand will file a special form with the US Securities & Exchange Commission to apply for listing on the OTC Bulletin Board.
Randall McCormick, President of delSECUR, stated "that while delSECUR already had a significant ownership position in QTECH, this will give delSECUR over 90% participation and we will take it under our wing as our Canadian subsidiary." OnJuly 12ththe majority shareholders of delSECUR gave their consent to the transaction.
QTECH owns the original delSECUR del-Id patents and all of the improvements of the technology which it had enhanced over the past two years. New patents are now being processed for such enhancements. QTECH is a privateOntario, Canadacompany with its offices inHamilton, Ontario. For further information on QTECH please see their websitewww.qtechid.com.
McCormick also announced that delSECUR CORPORATION has a new slate of Directors. "In a delayed annual shareholders meeting, held by consent vote, the majority shareholders of delSECUR gave their consent onJuly 11thto elect the following board members":
Berge M. Heede, ofSouth Carolina,Randall McCormick, ofMontreal, QC,Vincent Donnelly, ofVermont, Gordon J Bryan, andGordon Rottar, both fromOntario. Mr. McCormick will continue as President and Mr. Heede as Chairman of the Board and Treasurer. The Secretary of the company is Mr. Donnelly.
delSECUR CORPORATION is a public company (Pink Sheets: DLSC) with its head office in S.Burlington, VTwhich has been involved in the development of a unique authentication process based on abstract images of biological data collected from a finger scan, iris or retina scan, and facial recognition.
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 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.,July 16, 2012/PRNewswire/