Ipsidy Announces Results of 2017 Annual Meeting Ted Stern Elected to the Board
LONG BEACH, N.Y., September 28, 2017 — Ipsidy Inc. (authid.ai) [OTC:IDGS], (formerly known as ID Global Solutions Corporation), a provider of secure, biometric identification, identity management and electronic transaction processing services, today held its Annual Meeting of Stockholders and is pleased to report that all of the resolutions proposed at the Meeting as set out in the Proxy Statement were duly passed.
As a result, Philip Beck, Thomas Szoke, Herbert Selzer and Ricky Solomon were re-elected to the Board of Directors and Theodore Stern was added to the Board of Directors.
Mr. Stern brings to our Board over 26 years of experience as a director of public companies, having served in several executive positions in the energy and software industries over his career. He currently is a member of the Board of Directors of EnSync, Inc. and serves on the Governance, Audit, and Compensation Committees. EnSync develops and manufactures innovative energy management systems solutions. Previously he served as Chairman of the Board of inContact Inc. from 2000 to 2016 (when the company was acquired). He was Chairman and CEO from 2000 to 2005. During that time, he oversaw the transition of inContact from a telecommunications company to a rapidly growing software-as-a-service company.
Mr. Stern also served as a Senior Executive Vice President and member of the Board of Directors of Westinghouse Electric Corporation until his retirement. In his last position at Westinghouse Electric, Mr. Stern was responsible for multiple business units. Mr. Stern also served on the Boards of Directors of a number of other manufacturing, technology and energy companies. Mr. Stern holds a Bachelor of Science degree in Mechanical Engineering from the Pratt Institute and a Master of Arts degree in Theoretical Mathematics from New York University. He is a Fellow of the American Society of Mechanical Engineers and a member of the National Academy of Engineering. He is the author of a number of technical papers on nuclear power technology.
Philip Beck, Chairman and CEO of Ipsidy said “We are pleased to announce the election of Ted Stern to the Board, and we expect his wealth and depth of experience in building successful companies to be of significant assistance to our efforts to grow the Company. We are entering a critical stage in our development, as Ipsidy is preparing to launch our new services in production and we look forward to making further announcements regarding those activities and their impact on our business in the near future.”
Douglas Solomon, who until this year acted as Chairman of the Board of Directors, has resigned from the Board and as an executive of the Company by mutual agreement, in order to focus on generating sales opportunities for Ipsidy, primarily in Africa, as an independent sales agent. “We thank Doug for his service to the Company and look forward to continue working with him,” stated Mr. Beck.
Ipsidy is a provider of secure, biometric identification, identity management and electronic transaction processing services. Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia www.multipay.com.co and Cards Plus in South Africa. www.cardsplus.co.za. In a world that is increasingly digital and mobile, our vision is to enable solutions that provide pre-transaction verification of identity as well as embed identity verification within every electronic transaction message processed through our platform, or other electronic systems. We believe that it is essential that businesses and consumers know who is on the other side of an electronic transaction and have an audit trail, proving that the identity of the other party was duly verified. We are therefore developing solutions intended to provide our customers with the next level of transaction security, control and certainty for everyday transactions. Further information on Ipsidy can be found at authid.ai or contact us at email@example.com.
Philip D. Beck, Chairman, CEO & President PhilipBeck@ipsidystaging.wpengine.com
Stuart P. Stoller, CFO StuartStoller@ipsidystaging.wpengine.com
Notice Regarding Forward-Looking Statements.
Information contained in this announcement may include “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations of both Ipsidy and its business partners, net revenue, net income, Adjusted EBITDA, diluted earnings per share, future service launches with customers and new initiatives and customer pipeline are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Ipsidy present and future business strategies, and the environment in which Ipsidy expects to operate in the future, which assumptions may or may not be fulfilled in practice. Implementation of some or all of the new services referred to is subject to regulatory or other third party approvals. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by customers, consumers and others may take longer than anticipated, or may not occur at all; changes in laws, regulations and practices; changes in domestic and international economic and political conditions and others. Additional risks may arise with respect to commencing operations in new countries and regions, of which Ipsidy is not fully aware at this time. See the Company’s Annual Report Form 10-K for the Fiscal Year ended December 31, 2016 filed at www.sec.gov for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Ipsidy expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.