Safe Communications Agrees in Principle to Merge its Corporate Security Division into Publically Traded Northsight Capital, Inc.
Poster: SySAdmin
Posted on February 10, 2011 at 3:21:01 PM
Safe Communications Agrees in Principle to Merge its Corporate Security Division into Publically Traded Northsight Capital, Inc.
SCOTTSDALE, Ariz., Feb. 10, 2011 /PRNewswire/ -- SAFE COMMUNICATIONS, INC. (Pink Sheets: SGTB)announced today that the company has signed a nonbinding agreement in principle with Northsight Capital, Inc.(OTC Bulletin Board: NCAP), under which NCAP would acquire the company's newly formed corporate security division, NCAP Security Systems, Inc. In the proposed deal, Safe would retain an approximate 95% equity interest in NCAP, post acquisition. The company plans to spin a major part of NCAP off to shareholders of Safe as of a future record date, on a one for two basis. (One share of NCAP for each two shares of Safe owned on the record date). Completion of the proposed transaction is subject to customary conditions, including satisfactory completion of due diligence and board approval.
The new division, which uses the "MaskMail" anonymous reporting technology (http://www.MaskMail.com), will be headed up by international security expert Chuck Vance. Mr. Vance is also on Safe Communications' Child Cyber Safety Advisory Board. It is contemplated that that new "MaskMail" website will be launched in the very near future.
MaskMail will employ the company's anonymous reporting system to enable its customers to receive anonymous reports of theft and other wrongdoing. A recent National Retail Security Survey showed total retail losses cost businesses $33.5 billion last year. According to the survey, the largest percentage of retail shrinkage last year was due to employee theft, at $14.4 billion, accounting for 43 percent of total losses. In its 2010 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) said that corporate fraud cost the global economy more than $2.9 trillion in 2009. ACFE surveyed fraud examiners in 106 countries examining 1,843 cases of fraud to reach its conclusions.
EMPLOYEE THEFT A GROWING PROBLEM:
-- The FBI calls employee theft "the fastest growing crime in America!"
-- The U.S. Chamber of Commerce estimates that 75% of employees steal from
the workplace and that most do so repeatedly.
-- One third of all U.S. corporate bankruptcies are directly caused by
employee theft.
-- The American Society of Employers estimates that 20% of every dollar
earned by a U.S. company is lost to employee theft.
The anonymous reporting system allows subscribers to set up anonymous emails for their employees and for customers to report wrongdoing at the workplace or bad service at their stores. Using its anonymous email capability, considered an advanced anonymous reporting technology, the system gives business owners the ability to set up an email template, address it to themselves or other management personnel, and allow workers to send that email to the management anonymously. The new division's SMS (Short Message Service) system and its anonymous chat rooms afford law enforcement agencies the capability to correspond back and forth with citizens willing to pass on information as long as they are guaranteed anonymity. The anonymous chat rooms allow persons to sign in to a chat with law enforcement or corporate representatives, while remaining completely anonymous.
About Safe Communications, Inc.
Safe Communications, Inc. provides open and secure family communications that are in step with today's advances in the social media. While protecting our most precious asset, our children, our systems are designed to enhance the quality and frequency of day-to-day communications among family members and friends. Early detection devices warn parents of potential abuse and inappropriate content allowing secure, open exchange with loved ones and friends.
We allow users to experience the marvel of advanced technology without fear or danger.
Just as your child is not allowed to enjoy a ride in the car without a seat belt, Safe Communications designs products so that your children can enjoy the electronic ride without being exposed to potential harm or abuse. For more information, contact: info@safecommunications.com.
SOURCE Safe Communications Inc.
Safe Communications Inc.
CONTACT: Murdock Capital, +1-212-421-2545, tdean@murdockcapital.com, or Alan "Skip" Davidson, +1-702-868-7855, toptick_98@yahoo.com
Web Site: http://www.safecommunications.com/
SCOTTSDALE, Ariz., Feb. 10, 2011 /PRNewswire/ -- SAFE COMMUNICATIONS, INC. (Pink Sheets: SGTB)announced today that the company has signed a nonbinding agreement in principle with Northsight Capital, Inc.(OTC Bulletin Board: NCAP), under which NCAP would acquire the company's newly formed corporate security division, NCAP Security Systems, Inc. In the proposed deal, Safe would retain an approximate 95% equity interest in NCAP, post acquisition. The company plans to spin a major part of NCAP off to shareholders of Safe as of a future record date, on a one for two basis. (One share of NCAP for each two shares of Safe owned on the record date). Completion of the proposed transaction is subject to customary conditions, including satisfactory completion of due diligence and board approval.
The new division, which uses the "MaskMail" anonymous reporting technology (http://www.MaskMail.com), will be headed up by international security expert Chuck Vance. Mr. Vance is also on Safe Communications' Child Cyber Safety Advisory Board. It is contemplated that that new "MaskMail" website will be launched in the very near future.
MaskMail will employ the company's anonymous reporting system to enable its customers to receive anonymous reports of theft and other wrongdoing. A recent National Retail Security Survey showed total retail losses cost businesses $33.5 billion last year. According to the survey, the largest percentage of retail shrinkage last year was due to employee theft, at $14.4 billion, accounting for 43 percent of total losses. In its 2010 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) said that corporate fraud cost the global economy more than $2.9 trillion in 2009. ACFE surveyed fraud examiners in 106 countries examining 1,843 cases of fraud to reach its conclusions.
EMPLOYEE THEFT A GROWING PROBLEM:
-- The FBI calls employee theft "the fastest growing crime in America!"
-- The U.S. Chamber of Commerce estimates that 75% of employees steal from
the workplace and that most do so repeatedly.
-- One third of all U.S. corporate bankruptcies are directly caused by
employee theft.
-- The American Society of Employers estimates that 20% of every dollar
earned by a U.S. company is lost to employee theft.
The anonymous reporting system allows subscribers to set up anonymous emails for their employees and for customers to report wrongdoing at the workplace or bad service at their stores. Using its anonymous email capability, considered an advanced anonymous reporting technology, the system gives business owners the ability to set up an email template, address it to themselves or other management personnel, and allow workers to send that email to the management anonymously. The new division's SMS (Short Message Service) system and its anonymous chat rooms afford law enforcement agencies the capability to correspond back and forth with citizens willing to pass on information as long as they are guaranteed anonymity. The anonymous chat rooms allow persons to sign in to a chat with law enforcement or corporate representatives, while remaining completely anonymous.
About Safe Communications, Inc.
Safe Communications, Inc. provides open and secure family communications that are in step with today's advances in the social media. While protecting our most precious asset, our children, our systems are designed to enhance the quality and frequency of day-to-day communications among family members and friends. Early detection devices warn parents of potential abuse and inappropriate content allowing secure, open exchange with loved ones and friends.
We allow users to experience the marvel of advanced technology without fear or danger.
Just as your child is not allowed to enjoy a ride in the car without a seat belt, Safe Communications designs products so that your children can enjoy the electronic ride without being exposed to potential harm or abuse. For more information, contact: info@safecommunications.com.
SOURCE Safe Communications Inc.
Safe Communications Inc.
CONTACT: Murdock Capital, +1-212-421-2545, tdean@murdockcapital.com, or Alan "Skip" Davidson, +1-702-868-7855, toptick_98@yahoo.com
Web Site: http://www.safecommunications.com/