CLEVELAND, Jan. 12, 2007 (PRIME NEWSWIRE) -- Sentex Sensing Technologies, Inc. (OTCBB:SNTX) (http://www.sentextech.com). Henrik Rubinstein, President, explained the Sentex position today as well as the position of the Administrator under German Insolvency Law (BenQ Mobile GmbH & Co. OHG, Market Brand "BenQ -- Siemens").
Mr. Rubinstein outlined the current situation as well as the business model. "We further discussed the current financial partners and their willingness to move in a bidding process. In addition, we have now received the updated asset list."
Mr. Rubinstein described the new products, the opportunity for a multi service mobile phone and the new IP phones.
He also outlined the unique selling point for Sentex Mobile phones based on its current technology advantage.
The previous Siemens Mobile Division filed insolvency and is under administration of Prager Insolvency Administration Team Munich, Germany. Sentex stated their interest was based on the strong technology and products of the previous Siemens R&D as well as the market access in Europe, which turned out almost 25 million high-end mobile phones in the last business year.
Sentex has received a written statement of Nord Rhein Westfahlen again on a country endorsement for working capital of EUR 25 million, which was forwarded to the Bank for approval.
About Sentex Sensing Technologies Inc.
Sentex Sensing Technologies, Inc. is a multimodal biometric technology company. Sentex provides fingerprint, facial and voice biometric technologies, as well as systems, and critical system components that empower the identification of individuals in large-scale ID and ID management programs.
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 Sentex, and members of its management as well as the assumptions on which such statements are based, updated or revised forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.