GenuOne Announces Corporate Strategy

GenuOne, a leading provider of supply chain security solutions, announced today that it is withdrawing from the RFID application software market to concentrate all investments in the accelerated growth of their security product lines. "RFID is an exciting, enabling and disruptive technology that will result in substantial improvements and enhancements to global supply chains," Jeffrey Unger, CEO of GenuOne. "However, the RFID application software market is still very much in its infancy and will take some time to develop into a formal marketplace."

GenuOne's strategy is to focus operation on their two profitable and rapidly growing security product lines. Current offerings include SourceGuardV3.0™, an anti-counterfeiting software and tagging solution, and GenuNET V4.0™ an ASP software dedicated to brand protection on the internet, including auction marketplaces such as eBay.

The issue of product counterfeiting is reaching new epidemic levels. Products ranging from networking equipment, footwear, auto-parts, clothing, pharmaceuticals and electronics are now perfectly counterfeited and sold in major markets all over the world and on the internet. The market need for unique brand protection solutions remains strong and continues to create a demand on which GenuOne intends to continue to capitalize on. Over 50 major corporations have utilized GenuOne's ROI driven supply chain security solutions for the past five years. The company plans to continue investment in these applications and focus on their core markets of footwear & apparel, luxury goods, consumer goods and pharmaceuticals.