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Virogen Provides Update on the Development of Its Consumer Data Tracking Solution and Discussions With a Major Retailer(July 23, 2012)
SAN GERONIMO, CA -- (Marketwire) -- 07/23/12 -- Virogen Inc. (PINKSHEETS: VRNI), a holding company specializing in data security and encryption technology, today provided an update regarding the development of a consumer data tracking solution as part of its ongoing discussions with a major worldwide retail chain to include this new solution in its laptops and PCs.
Virogen's wholly-owned subsidiary, Tiger Team Technologies "T3", is developing this new consumer product that will serve as a data protection and tracking solution for personal credit card transactions online. T3's new product will provide consumers' laptops and home PCs with a tool that will track all of their visits and transactions online and then communicate that record in an encrypted method to the company's secure servers where the consumer can access all of this information via a secure login and password.
Since first announced by the Company in March, T3 has continuously made modifications and improvements to its consumer data tracking solution and anticipates that development of this product will be complete by the end of the first quarter of 2013. Virogen continues its discussions with a major worldwide retailer to offer the company's new consumer data tracking technology with its laptops and PCs, thus bundling its computer hardware division's product offerings and remains confident that an agreement can be reached.
"We are very excited to continue our consumer product development and discussions with a large retailer for the marketing of this solution as part of their computer hardware. This reinforces the company's belief that there is no solution on the market that consumers can use to specifically provide protection and tracking of personal online credit card transactions that provides the level of protection that our new solution will," commented Paul Hogan, CEO of Virogen, Inc.
"We continue to be very optimistic that these discussions will lead to a future agreement that would strategically position our consumer data tracking technology in the marketplace and potentially provide significant revenue for the company."
About Virogen, Inc.
Virogen, Inc. is a technology holding company. The company's wholly owned subsidiary, Tiger Team Technologies "T3," has developed a very unique suite of copyrighted tools to address the network and database security needs of enterprise level companies and corporations. T3's risk management offering provides an unprecedented level of security and liability protection, positioning it as the only company with a comprehensive solution to data security breaches for its clients. T3's primary markets include medical service providers, financial services firms, brokerages and currency transaction platforms, consumer credit card companies, banking entities, retailers, defense and government related operations.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.
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