ADVANCED ID CORP Financials

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ADVANCED ID CORP Files SEC form 10-K/A, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The registrant signed an agreement with Corporate Insights in April 2008 with the purpose of funding the purchase of Shenzhen DDCT Technology, Co. At the end of 2008, it was clear that funding could not be obtained and the merger was not completed. A replacing bilateral sales agreement is being developed in 2009. In June 2008, the registrant restructured its Pneu-Logic subsidiary to save costs. As the economy collapsed in the second half of 2008, sales of Pneu-Logic products, as well as all of the registrant's products, declined and further steps had to be taken to cut costs. The administrative functions of PLCL were moved to Advanced ID's head office in Calgary although sales efforts continued in Europe through a bilateral sales agreement with Pneu- Logic Limited. The bilateral sales and marketing agreement had no impact on revenues but gave Advanced ID exclusive access to the products of Pneu-Logic Limited and gave PLL access to Advanced ID's products and readers and favorable prices. The agreement expired September 1, 2009. 16 Also in late 2008, the registrant contracted with La Jolla Cove, an investment company to secure funding to complete the asset purchase of Shenzhen DDCT. That funding agreement was in place at the end of 2008. However, due to the fact that the registrant will not purchase DDCT, the parties are currently negotiating to alter that agreement. The registrant is moving forward on several fronts. These initiatives were started in 2008 and continue into 2009. Our largest fleet related system integrator has committed to several hundred truck probes in 2009/2010. Our primary software development partner for the truck probe will release in April 2009, tire management software (middleware) that will allow the probe and ultimately our RFID readers to communicate with any embedded fleet management database. Our strategic partner in Brazil is conducting majo...
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ADVANCED ID CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion is intended to assist in understanding the financial condition and results of operations of Advanced ID. You should read the following discussion along with our financial statements and related notes included in this Form 10-Q. The following discussion contains forward-looking statements that are subject to risks, uncertainties and assumptions. Our actual results, performance and achievements in 2009 and beyond may differ materially from those expressed in, or implied by, these forward looking statements. Overview Advanced ID is a complete solutions provider in the Radio Frequency Identification business with a focus on the tire management industry. Advanced ID is also involved in the tire inspection business. Advanced ID is active in the pet recovery business through its AVID Canada subsidiary in Calgary, Alberta and has developed a UHF RFID reader product line for global supply chain applications. Recently Advanced ID has expanded to other countries in Europe, China and is currently evaluating setting up a minority owned subsidiary in Brazil to address the rapidly growing RFID market in South America. Results of Operations for the Six Months Ended June 30, 2009 and June 30, 2008. The net loss of $303,239 for the six months ended June 30, 2009 was lower by $1,209,694 compared to last year due to lower selling and general and administrative expenses during the six months ended June 30, 2009. Revenues Revenues of $210,904 during the six months ended June 30, 2009 decreased by $501,117 or 70.38% from last year. This decrease can be attributed to a general slow-down in the economy resulting in lower sales levels. As a result of the slumping sales levels, the Company retained Petidco Sales and Marketing Ltd., to market its companion animal products in North America. Petidco will purchase products from Avid Canada on a cost plus bas...
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ADVANCED ID CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion is intended to assist in understanding the financial condition and results of operations of Advanced ID. You should read the following discussion along with our financial statements and related notes included in this Form 10-Q. The following discussion contains forward-looking statements that are subject to risks, uncertainties and assumptions. Our actual results, performance and achievements in 2009 and beyond may differ materially from those expressed in, or implied by, these forward looking statements. Overview Advanced ID is a complete solutions provider in the Radio Frequency Identification business with a focus on the tire management industry. Advanced ID is also involved in the tire inspection business. Advanced ID is active in the pet recovery business through its AVID Canada subsidiary in Calgary, Alberta and has developed a UHF RFID reader product line for global supply chain applications. Recently Advanced ID has expanded to other countries in Europe, China and is currently evaluating setting up a minority owned subsidiary in Brazil to address the rapidly growing RFID market in South America. Results of Operations for the Six Months Ended June 30, 2009 and June 30, 2008. The net loss of $303,239 for the six months ended June 30, 2009 was lower by $1,209,694 compared to last year due to lower selling and general and administrative expenses during the six months ended June 30, 2009. Revenues Revenues of $210,904 during the six months ended June 30, 2009 decreased by $501,117 or 70.38% from last year. This decrease can be attributed to a general slow-down in the economy resulting in lower sales levels. As a result of the slumping sales levels, the Company retained Petidco Sales and Marketing Ltd., to market its companion animal products in North America. Petidco will purchase products from Avid Canada on a cost plus bas...
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Advanced ID Corp. Announces AutoSearchRFID, a Pioneering Supply Chain Management Product, in Conjunction With EarthSearch Communications

CALGARY, AB--(Marketwire - 09/16/09) - Advanced ID Corporation (OTC.BB:AIDO - News) (OTC.BB:AIDOE - News), a leading developer of RFID solutions for supply chain applications, announces its partnership with Atlanta-based EarthSearch Communications, Intl. and a new revolutionary product called AutoSearchRFID. AutoSearchRFID is the world's first integration of GPS and RFID at the hardware level and not only provides real time tracking of trucks, buses and ships, but of the contents in the vehicle. For the first time, the fleet provider can not only monitor the location of the trucks but monitor the movement of the packages and boxes in the trucks while in transit. The technology has also been implemented for school buses and can be used for managing the safety of student bus riders as well as efficiency of the bus fleet. Parents can receive instant notification of successful pick up and drop off of students traveling on the school bus, with real time where-and-when data recording. Kayode Aladesuyi, President/CEO of EarthSearch, stated, "We at EarthSearch are very excited about introducing AutoSearchRFID on a global basis. This unique combination of GPS and RFID, along with the user friendly GPRS interco...
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Advanced ID Corp. Enters Into Settlement Agreement to Terminate Debenture Agreement With La Jolla Cove Investors

CALGARY, AB--(Marketwire - 09/08/09) - Advanced ID Corporation (OTC.BB:AIDO - News), a leading developer of RFID technology for supply chain applications, announced today the settlement agreement that terminates its convertible debenture funding agreement with La Jolla Cove Investors. Terms of the agreement were not disclosed. Terry Fields, the Advanced ID Board of Directors member who represented the Company in the negotiations, stated: "We worked well with La Jolla Cove over the last nine months but we felt that the Company needed to move in a new direction. We are confident about the future revenue prospects for the Company and are better positioned to move forward as planned."Dan Finch, Advanced ID's President, added: "The global economy has experienced significant challenges the last year and Advanced ID has not been spared the effects of the virtual meltdown of the tire industry. Our RFID tire tag product line is moving forward, but much slower then anticipated when the Company pioneered its development in 2006. Advanced ID is repositioning its efforts away from the tire industry at this time and our business requirements are being modified accordingly. To this end, while we appreciate the cooperation of La Jolla Cove during the most difficult period of late 2008 and 2009, we are encouraged to have signed this settlement agreement and emerge with a more focused approach for marketing our impressive RFID supply chain technology."Advanced ID announces also that the company will file its quarterly 10Q for ...
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ADVANCED ID CORP Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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ADVANCED ID CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion is intended to assist in understanding the financial condition and results of operations of Advanced ID. You should read the following discussion along with our financial statements and related notes included in this Form 10-Q. The following discussion contains forward-looking statements that are subject to risks, uncertainties and assumptions. Our actual results, performance and achievements in 2009 and beyond may differ materially from those expressed in, or implied by, these forward looking statements. Overview Advanced ID is a complete solutions provider in the Radio Frequency Identification business with a focus on the tire management industry. Advanced ID is also involved in the tire inspection business through its UK based Pneu-Logic subsidiary. Advanced ID is active in the pet recovery business through its AVID Canada subsidiary in Calgary, Alberta and has developed a UHF RFID reader product line for global supply chain applications. Recently Advanced ID has expanded to other countries in Europe, China and is currently evaluating setting up a minority owned subsidiary in Brazil to address the rapidly growing RFID market in South America. Results of Operations for the Three Months Ended March 31, 2009 and March 31, 2008. The net loss of $268,547 for the three months ended March 31, 2009 was lower by $189,750 compared to last year due to lower selling and general and administrative expenses during the three months ended March 31, 2009. Revenues Revenues of $146,494 during the three months ended March 31, 2009 decreased by $201,890 or 57.95% from last year. This decrease can be attributed to a general slow-down in the economy resulting in lower sales levels. As a result of the slumping sales levels, the Company retained Petidco Sales and Marketing Ltd., to market its companion animal products in North America. Pet...
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ADVANCED ID CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion is intended to assist in understanding the financial condition and results of operations of Advanced ID. You should read the following discussion along with our financial statements and related notes included in this Form 10-Q. The following discussion contains forward-looking statements that are subject to risks, uncertainties and assumptions. Our actual results, performance and achievements in 2009 and beyond may differ materially from those expressed in, or implied by, these forward looking statements. Overview Advanced ID is a complete solutions provider in the Radio Frequency Identification business with a focus on the tire management industry. Advanced ID is also involved in the tire inspection business through its UK based Pneu-Logic subsidiary. Advanced ID is active in the pet recovery business through its AVID Canada subsidiary in Calgary, Alberta and has developed a UHF RFID reader product line for global supply chain applications. Recently Advanced ID has expanded to other countries in Europe, China and is currently evaluating setting up a minority owned subsidiary in Brazil to address the rapidly growing RFID market in South America. Results of Operations for the Three Months Ended March 31, 2009 and March 31, 2008. The net loss of $268,547 for the three months ended March 31, 2009 was lower by $189,750 compared to last year due to lower selling and general and administrative expenses during the three months ended March 31, 2009. Revenues Revenues of $146,494 during the three months ended March 31, 2009 decreased by $201,890 or 57.95% from last year. This decrease can be attributed to a general slow-down in the economy resulting in lower sales levels. As a result of the slumping sales levels, the Company retained Petidco Sales and Marketing Ltd., to market its companion animal products in North America. Pet...
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ADVANCED ID CORP Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The registrant signed an agreement with Corporate Insights in April 2008 with the purpose of funding the purchase of Shenzhen DDCT Technology, Co. At the end of 2008, it was clear that funding could not be obtained and the merger was not completed. A replacing bilateral sales agreement is being developed in 2009. In June 2008, the registrant restructured its Pneu-Logic subsidiary to save costs. As the economy collapsed in the second half of 2008, sales of Pneu-Logic products, as well as all of the registrant's products, declined and further steps had to be taken to cut costs. PLCL was suspended and in early 2009, the relationship with Pneu-Logic was changed to an exclusive bilateral sales and marketing agreement. Also in late 2008, the registrant contracted with La Jolla Cove, an investment company to secure funding to complete the asset purchase of Shenzhen DDCT. That funding agreement was in place at the end of 2008. However, due to the fact that the registrant will not purchase DDCT, the parties are currently negotiating to alter that agreement. 16 The registrant is moving forward on several fronts. These initiatives were started in 2008 and continue into 2009. Our largest fleet related system integrator has committed to several hundred truck probes in 2009/2010. Our primary software development partner for the truck probe will release in April 2009, tire management software (middleware) that will allow the probe and ultimately our RFID readers to communicate with any embedded fleet management database. Our strategic partner in Brazil is conducting major trials with Bandag and Bridgestone in the tire ID business and just presented a countrywide solution for RFID and gas vessels. The registrant's low cost point of sale RFID reader is going through final trials in Europe with product acceptance expected in the 2nd quarter of 2009. At that point, this product will be prese...
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