March 1, 2002 - DNA Technologies Presents Fraud Fighting Initiative to Industry
(Honolulu, HI) DNA Technologies, a division of CrossOff Incorporated (TSE:OFF), led a panel discussion on the future of sports memorabilia authentication at the Kit Young Trade Conference yesterday in Honolulu, Hawaii. The DNA Technologies led initiative brought together major league officials, security officials and sports business leaders to discuss, debate and break new ground on the creation of an industry standard for authentication and protection of celebrity signed memorabilia.
The sports memorabilia market is estimated by Card Trade Magazine to be worth over $2 billion per year. It is an industry inundated with fake merchandise and without authenticity standards. In an effort to deter the sale of counterfeit celebrity signed memorabilia, DNA Technologies has been working with leaders in the sports industry who are concerned with the production of fraudulent merchandise.
One year ago in Hawaii, Tim Fitzsimmons of the FBI expressed a need to establish authenticity protection standards in the industry. Since that time, DNA Technologies has brought together industry leaders to form the Sports Authentication Standard Alliance (SASA). Over the past year, the alliance has met several times in New York and has produced a White Paper proposing the necessary components required for a standard.
The focus of the panel discussion was the SASA initiative, the progress made on the establishment of a standard and how incidents of counterfeit or fraudulent goods affect the industry as a whole. Leading this high profile panel discussion were moderator Rocky Landsverk, Krause Publications; Joe Grippo, MLB; Evan Kaplan, MLB Player's Association; Pete Quaglierini, NFL; Dawn Ridley-Nash, NFL Players Inc.; Dave McCarthy NHL; Tim Fitzsimmons, FBI; and Barry Creamer, DNA Technologies.
Donnie Snow, CEO of CrossOff Inc. was in Honolulu for this key industry event. "I am very impressed with the desire expressed by the industry this week to protect the value of their brands and raise consumer confidence. We are very encouraged by the progress made for the future of an authentication standard."
About DNA Technologies
DNA Technologies is a new breed of high security company whose prime focus is anti-counterfeiting and brand protection. DNA's parent company, CrossOff Inc. was established in 1963 and is publicly traded on the Toronto Stock Exchange (TSE:OFF). The company is headquartered in Halifax, Canada with sales offices in Los Angeles, New York, and London, England.
The DNA based tracking system is a process whereby items are tagged with the DNA Matrix , then traced and tracked through a secure online registry. The DNA technology combines identifiable DNA gene segments into an ink that may then be applied as either a visible or covert security marker. The mark is virtually impossible to decode. Each item marked with the DNA Matrix is packaged with a registration certificate instructing the owner to create an online record of the item's authenticity.
For further information, please contact:
Heather Smith-Dacey
Marketing Director
(902) 496 6421
email: media@crossoff.com
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