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IdentiPHI Announces Growth in Demand for its Advanced Authentication Solutions

^{Published on 2008-12-22 09:23:08, Last Modified on 2008-12-22 09:24:24 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--IdentiPHI, Inc. (OTCBB: IDPI), an innovative leader in advanced authentication solutions for the enterprise, today announced growth in new orders and implementations of its flagship advanced authentication product, SAFsolution® 5 Enterprise Edition. SAFsolution 5, launched in May 2008, has received positive acceptance from the market, technology press and customer base since its initial release. Over the last few months, IdentiPHI has won a dozen new orders and seen a steady increase in sales inquiries and customer deployment numbers.

"While our SAFsolution products are long known for simplifying the deployment of biometric authentication for businesses, our customers tell us that the functionality of SAFsolution 5 is really differentiating us from the rest of the market," said IdentiPHI CEO Christer Bergman. "The volume of orders over the last few months is a strong initial endorsement of our strategy to develop a robust advanced authentication solution that supports multiple forms of authentication and is easily implemented in any size organization. A significant portion of the growth in demand has come from customers in the government, financial and healthcare sectors, both in the US and international."

"We continue to work closely with our largest accounts as they grow beyond their initial roll-outs," continued Mr. Bergman. "One key Fortune 100 customer has been successfully using our product in its retail stores since early summer and is rapidly expanding the use of SAFsolution in additional stores on a monthly basis, with nationwide implementation planned to occur over the next year."

"Customers come to IdentiPHI looking for a solution to replace passwords for user authentication and find that the flexible authentication framework SAFsolution provides can be implemented easily within their network and improve the security of their corporate assets. The importance of protecting access to these valuable resources is a significant driver in the rise of orders and inquires. Our sales team remains focused on converting our growing sales pipeline and recent orders into new opportunities for next year," concluded Mr. Bergman.

IdentiPHI recently announced the release and availability of SAFauthenticator™ SDK and the latest version of SAFsolution 5 Enterprise Edition. The SAFauthenticator SDK enables partners, developers and customers to integrate the capabilities of SAFsolution into their products and applications. Implementations of SAFauthenticator are already underway with a number of key partners.

About IdentiPHI

Headquartered in Austin Texas, IdentiPHI is an innovative technology company offering a comprehensive suite of advanced authentication solutions. Comprised of experienced partners and thought-leaders in the industry, IdentiPHI is setting the standard for what companies are looking for in a security solution. IdentiPHI solutions deliver enhanced identity assurance throughout the enterprise. The company is defining security technology to meet the evolving challenges of today's ever changing fast-paced business needs. For more information, call 888-436-8744, or visit [ www.identiphi.net ].

NOTE: "SAFsolution," "SAFauthenticator" and "IdentiPHI" are trademarks of IdentiPHI, Inc.

This release contains information about our management's view of our future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, risks and uncertainties associated with our financial condition, our ability to sell our products, our ability to compete with competitors and the growth of the security market and the successful delivery and adoption of our biometric products in the marketplace. In addition, we need to seek additional funds through the issuance of equity or debt securities or other sources of financing during 2008 and we do not have any arrangements or agreements in place for any such financing. If we are unable to obtain necessary additional financing, our ability to run our business will be adversely affected and we may be required to reduce the scope of our research and business activity or cease our operations. Even if we are successful in obtaining additional financing, if we are unable to generate sufficient cash flow from operations, we will need to seek additional funds through the issuance of additional equity or debt securities or other sources of financing. We may not be able to secure such additional financing on favorable terms, or at all. Any additional financings will likely cause substantial dilution to existing stockholders. If we are unable to obtain necessary additional financing, we may be required to reduce the scope of, or cease, our operations. Further, we will need to increase our revenues to be able to achieve and then maintain profitability and we cannot predict when, or if, we will become profitable in the future. Even if we achieve profitability, we may not be able to sustain it. Additional factors are included in our annual report on Form 10-K, as well as other documents we periodically file with the Securities and Exchange Commission.