NEWPORT BEACH, Calif., Oct. 19, 2006 (PRIMEZONE) -- World Am, Inc.'s (OTCBB:WDAM) Senz-It subsidiary and Source Scientific, LLC, a precision manufacturer located in adjoining Irvine, today jointly announced that the companies had signed a Memorandum of Understanding. Under terms of the MOU, Source Scientific will be the manufacturer of precision electro-optical molecular sensing assemblies for reading and interpreting sensor arrays to be developed by Senz-It.
"Our company has extensive experience as a contract manufacturer of precision electro-optical assemblies and equipment," said Richard W. Henson, CEO of Source Scientific. "It is our intent to handle the full production responsibility for the sensing hardware assemblies that will be developed by Senz-It."
"This latest partnership with a seasoned high tech manufacturer is very helpful in planning the future of the Senz-It product line," said World Am Chairman & CEO Robert A. Hovee. "An especially important part of this agreement is the fact that Source Scientific will provide engineering development space and support in its facility for Senz-It to use in designing these products for manufacturability, and will provide input to the Senz-It design process as to the most efficient and reliable way to manufacture the product."
The potential technology represented by Senz-It represents an innovative advancement in the field of micro-sensors that have applications in homeland security, indoor air quality monitoring, food processing and health care. These products are in the developing field of "electronic noses," and can identify patterns of molecules present in air or liquid environments for significantly less cost than current approaches.
Additional information on the companies is available at http://www.world-am.com and at http://www.sourcescientific.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the World Am, Inc. Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.