PRESS RELEASE
January 9, 2007 CONTACT: Stephen D. Reid 732-892-5000 sreidassoc@aol.com
Digital Descriptor Systems, Inc Announces
Name Change, New Symbol and Reverse Stock Split
Allied Security Innovations, Inc.
New Stock Symbol: ASNV
Sea Girt, NJ. - Digital Descriptor Systems, Inc., has officially announced a name change to Allied Security Innovations, Inc. effective February 7, 2006. The new symbol is ASVN. In addition, the company implemented a one for 500 reverse stock split that will reduce the number of issued and outstanding shares from approximately 9. 5 billion to approximately 20 million shares.
“The shareholders overwhelmingly supported the reverse stock split and our name change, which more closely reflects the new company we have become,” stated Anthony Shupin, Chairman and CEO. “The DDSI role as a provider of imaging software to the criminal justice market will remain as a dba. Our subsidiary, CGM-Applied Security Technologies, Inc. continues to expand our client base, protecting unattended assets and devising security techniques across the broader spectrum of supply chain, cargo, transportation, pharmaceutical and homeland security markets. We anticipate that implementation of the reverse stock split will lead to greater interest in our company by the investment community.”
“We are working on our web-presence, which will enhance our new image as well as allow our worldwide client base access to information about our products and their applications,” Shupin continued, “We expect to see results before the end of the first quarter 2007. There are a lot of positive changes happening at our company. The management team and Board of Directors sincerely thank our shareholders for their support of our initiatives.”
Allied Security Innovations, Inc. executive headquarters remains in Sea Girt, New Jersey. Technical support for its proprietary software utilized by over 300 clients around the world is based in St. Augustine, Florida.
Its subsidiary, CGM Applied Security Technologies, Inc., based in Somerset, NJ, 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 www.cgmsecuritysolutions.com.
Safe Harbor Statement:
Safe 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.