TO CLIENTS, INVESTORS AND SHAREHOLDERS
FARMINGDALE, NJ – APRIL 8, 2011
- Allied Security Innovations,
Inc. (ASII) finds it proper and necessary to issue this release to inform
its clients, investors and shareholders of its position in light of the
article posted in the April 5, 2011 PIPE’s REPORT.
Much of what has been reported is untrue and is misleading in that it does
not accurately describe either the historical events or current status.
After several attempts to resolve violations to the acquisition agreements,
ASII was compelled to file suit against Mr. Erik Hoffer to protect the
Company, its customers and its investors.
ASII contends that Hoffer initiated a concerted effort to impact Company
performance to such a pervasive degree as to cause a default of a final
balloon payment. We expect to prove in court that Hoffer, along with his co
defendant Navatech, joined forces to undermine the reputation of the company
by diverting business, unfairly competing and interfering with customer and
Though not the least of the distortions found in the article, is that which
is written regarding ASII fulfilling its payments.
ASII has never missed payments to
investors as was reported.
At trial ASII will provide evidence of the pervasive efforts of the
defendants to damage the company for the express purpose of causing a
reversion of the company to its seller.
Mr. Hoffer’s statements to the press are proof of his continuing efforts to
damage the company.
Allied Security Innovations, Inc.
company, based in Farmingdale, NJ, (Symbol: ADSV) develops and markets
integrated enterprise-wide image applications specifically designed for
organizations. Customers include states, cities, counties, corrections,
justice, and public safety agencies. Additional information is available
online, at www.ddsi-cpc.com.
subsidiary, CGM Applied Security Technologies, Inc., with locations
in Farmingdale, NJ and a factory in Staten Island, NY, is a leading
manufacturer and distributor of Homeland Security products, including
indicative and barrier security seals, security tapes and related packaging
security systems, protective security products for palletized cargo,
physical security systems for tractors, trailers and containers, as well as
a number of highly specialized authentication products. Additional
information is available online, at
Harbor Statement Under the Private Securities Litigation Act of 1995 - With
the exception of historical information, the matters discussed in this press
release are forward-looking statements that involve a number of risks and
uncertainties. The actual future results of the Company could differ
significantly from those statements. Factors that could cause actual results
to differ materially include risks and uncertainties such as the inability
to finance the company’s operations or expansion, inability to hire and
retain qualified personnel, changes in the general economic climate,
including rising interest rate and unanticipated events such as terrorist
activities. In some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential" or "continue," the negative of
such terms, or other comparable terminology. These statements are only
predictions. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, such statements should not be
regarded as a representation by the Company, or any other person, that such
forward-looking statements will be achieved. We undertake no duty to update
any of the forward-looking statements, whether as a result of new
information, future events or otherwise. In light of the foregoing, readers
are cautioned not to place undue reliance on such forward-looking
statements. For further risk
factors associated with our Company, review our SEC filings.