IQ BIOMETRIX ANNOUNCES EFFECTIVENESS
OF REVERSE STOCK SPLIT AND NEW STOCK SYMBOL
FREMONT, Calif., December 2, 2004 -- IQ
Biometrix, Inc. (OTCBB:IQBM) (OTCBB:IQBX), a worldwide provider
of integrated law enforcement and security solutions, announced
today that the 1-for-4 reverse split of its outstanding
common stock was effective on Monday, November 29, 2004.
IQ Biometrix’s common stock will begin trading on
a post-split, consolidated basis when the market opens on
Friday, December 3, 2004.
Due to the reverse split, which is part
of the company’s completion of its merger with Wherify
Wireless, Inc., the company’s stock trading symbol
on the Over-The-Counter Bulletin Board will be changed from
IQBM to IQBX.
No fractional shares of common stock will
be issued in connection with the reverse stock split. In
instances where the reverse stock split would result in
a stockholder becoming the holder of a fractional interest
in a share of common stock, the number of shares held by
such stockholder will be rounded down to the nearest whole
share, and the stockholder will receive a cash payment equal
to the product of (i) the closing sales price of the common
stock on November 29, 2004, the effective date of the reverse
stock split, multiplied by (ii) the fractional interest.
The company’s transfer agent, American
Stock Transfer and Trust Company, will be mailing out appropriate
documentation to the Company’s stockholders regarding
the exchange of certificates for common stock.
About IQ Biometrix, Inc.
IQ Biometrix, Inc. (IQBM) provides law enforcement
and security technology solutions for government and private
industry. IQ Biometrix, an innovative California-based company
is a leading provider of facial composite technology for
law enforcement agencies in North America. FACES(TM) is
currently used by thousands of policing agencies worldwide,
including the Central Intelligence Agency and the Federal
Bureau of Investigation. IQBM is currently developing new
applications based on this foundation technology tailored
to meet the needs of national, business and personal security.
Its solutions practice is focused on integrating IQBM and
partner technologies to provide customized responses to
client needs. Further information about IQBM can be found
About Wherify Wireless, Inc.
Wherify Wireless, Inc. is a privately-held
developer of patented wireless location products and services
for child safety, parental supervision, personal protection,
Alzheimer and memory loss, supervision, law enforcement,
security, animal identification, and property asset tracking.
The company's proprietary integration of the U.S. government's
global positioning system (GPS), Wherify patented back-end
location service engine, and wireless communication technologies
will enable customers to obtain real-time location information
on individuals and property directly through the Internet
or any phone. Founded in March 1998, Wherify Wireless is
located in Redwood Shores, Calif. For more information,
or to purchase Wherify products, visit the company's website
IQ Biometrix, Inc.
Mike Walsh, 888-321-5553
Liviakis Financial Communications
John Liviakis, 415-389-4670
Wherify Wireless, Inc.
Steve Heninger, 650-551-5251
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