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IDS Worldwide, Inc. (IDWD)

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IDS Worldwide, Inc is a pink sheet company that designs and markets biometric security products, the Real Time Assistant Software, the www.995ad.com website, and operates security services in Pakistan and Dubai. As of July, 2006, IDS is in negotiations to be aquired by its spinoff division, HLS Worldwide, in an all cash buyout valued at $2.35 per share[1]


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Snapshot

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Buyout

IDS Worldwide is in the process of completing a spinoff of its 995ad.com division and the cash buyout of all outstanding IDS stock by HLS Worldwide. These events are discussed under Future Events. On October 19, IDS Worldwide announced that financing was complete for the IDS $2.35 cash buyout. New updates are expected following the Middle Eastern holiday of Eid.

As of the shareholder web conference call held on 27 Feb 07[2], IDS has chosen to postpone the 995ad.com transaction to focus its time and efforts on concluding biometric phone auction and sales. These sales are now in the 2nd round of negotiations with investment parties in Asia, Europe, Colombia, Brazil, Mexico and in North America.

There was no mention of the $2.35/share buyout from the minutes of the 27 Feb 07 meeting.[2]

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Divisions

  • IDS Parent Company
IDS Worldwide develops and markets security and software products, including Real Time Assistant Software. IDS is currently in negotiations to be bought by its spinoff division, HLS Worldwide, for $2.35 cash per share. According to IDS, negotiations have been completed and the deal is awaiting the completion of the 995ad.com spinoff and merger.
  • 995ad.com Division
995ad.com allows users to post classified ads at the fixed rate of $9.95. IDS Worldwide is in the process of spinning off the 995ad.com division prior to the announced IDS buyout by HLS Worldwide. According to a recent press release, IDS's Real Time Assistant Software will be included in this spinoff. IDS has announced the new entity will be a fully reporting public company and current IDS shareholders will receive 1 share in the spinoff company for every 1 share of IDS held at the time of the spinoff announcement. IDS claims the current reason for delays in this spinoff is due to the hospitalization of IDS CEO, Patrick Downs. According to Alexa.com, 995ad.com's traffic ranking is not in the top 100,000 internet sites.
  • HLS Worldwide
HLS Worldwide, a former division of IDS, is in the process of completing an all cash buyout of IDS. HLS is a non-trading company; spinoff shares were issued to IDS stockholders in June. IDS has announced HLS will receive a cusip number by October 15, 2006 and file an SB-2 therafter to begin publicly trading. HLS expects to report over $1.00 per share earnings for this past year. [citation needed] HLS products include:
HLS has reported millions in sales and contracts. For instance, on May 31, 2006 IDS reported HLS selling 100,000 units to STE-Communications for $12,500,000.
HLS is auctioning this technology with an opening bid of $400 Million
  • Other Divisions
IDS Worldwide markets several peripheral businesses on its websites, including Fishing Lures. On the IDS homepage and 995ad.com , IDS writes the following:
"Doug Hannon's Big Bass System, featuring The Original Fishing Snake. This exciting new product, is projected to enjoy HUGE success on both the TV Infomercial market, and with retail sales to major sporting goods outlets, following previously introduced similar products which sold Tens of Millions of Dollars."[3]
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Recent Events

06/06/08 8:06 am IDS Worldwide, Inc. Announces Merger With Avalon Technology Group, Inc. (Marketwire)
05/09/08 10:05 am IDS Worldwide, Inc. Announces New Board Member Elected (Marketwire)
04/30/08 9:04 am IDS Worldwide, Inc. Announces New Board to Be Elected at May 9th Meeting (Marketwire)
04/15/08 10:04 am IDS Worldwide, Inc. Announces Restructuring to Include Authorization of 5 Million Share Buyback and Retirement of Former Executives' Stock (Marketwire)
08/31/07 10:08 am HLS Worldwide and WSA Report Completion of Next Generation FIPS 140-2 Compliant Biometric Encryption Security Devices (Marketwire)
More News...
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Future Events

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Leadership

  • CEO Patrick Downs
  • CTO Yasar Khawar Rabbani
  • Lori LaSpada * Vice President, Business Development and Marketing, Worldwide Security Acquisitions (Corporate Entity to purchase IDWD)
  • Todd Speak * CFO, Worldwide Security Acquisitions (Corporate Entity to purchase IDWD)
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Risks

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Pink Sheet

IDS is a pink sheet company, and not required to post financial data or adhere to major SEC requirements.

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CEO

Patrick Downs is believed to be a convicted felon listed on the Seminole County Sheriff's webpage [4]. A comparison of the mugshot and known footage of Mr. Downs suggests they are the same "Patrick Christopher Downs."

The Seminole County Sheriff's Office reports Mr. Downs as a registered felon as of April 13, 2000, listing his qualifying offenses as "Scheme to Defraud/Grand Theft/Sale of Unregistered Securities" and his probation date as May 5, 2012.[4] Various explanations have been given for this by posters on IDS stock message boards, namely that Mr. Downs' boss was guilty of the securities fraud and fled the country, leaving Downs to take the rap [citation needed].

Patrick Downs, a.k.a, "Patrick Christopher Downs" is believed to be the "Patrick C. Downs" listed in as many as fifty-one lawsuits between 1987 and 1992. Most of the lawsuits involve defrauding people of money. The most recent is from September 2005, in which he was successfully sued by Sumter National Bank for 626,000.

Confirmation that the accused is the same "Patrick C. Downs" who runs IDS can be found at this Florida Corporation search tool. Patrick Downs is listed as the owner of the sued company Execu-Fax, as well as the former Syntec, which became IDS Solutions, which became IDS Worldwide, Inc. Furthermore, some of the legal complaints against Downs are listed Seminole County, Florida, the same county as Downs' mug shot.[4]

Finally, this felon, David Rupley, is listed with the same home address as Patrick Downs, 310 Golfbrook Circle, Longwood, Florida. He is also listed as a Web Designer and convicted of Grand Theft.

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IEEE Award

In an October 20, 2005 press release IDS Worldwide announced that their CTO, Yasar Khawar, Head of the Homeland Security Division, was chosen by the Institute of Electrical and Electronic Engineers (IEEE) Asia Pacific Region to be honored for the Best Professional Security Data Product for Asia Pacific Region for 2004. In response to IDS message board posts claiming the IEEE denied giving Yasar Khawar this award, IDS issued a follow up press release on November 2, 2005 entitled "IDS Worldwide, Inc. Addresses Certain Misleading Online Postings on Internet Message Boards" announcing IDS would post a picture of Yasar receiving the award on the IDS webpage. The group photo IDS posted appeared to be doctored, with Yasar's face poorly photoshopped in [citation needed]. IDS later removed the photo from its website along with the press release announcing the award. [citation needed] The IEEE website lists all award recipients and does not list Yasar Khawar.

It has been widely rumored, and suggested through company emails, that the IEEE was a sponsor for college contests, one in which IDS Worldwide and Yasar Khawar were chosen as the winner after being judged and awarded through the contest. IEEE was not present, and/or did not directly distribute awards to IDS Worldwide, but has been believed to be the sponsor of the event.

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IDS WEBSITE

Certain images and programing from the IDS Website, including pictures of their facilities, appear to have been copied from the website of Syntech International. However it appears IDS Worldwide was previously incorporated as Syntech International, so the two companies may have some relationship.[citation needed]

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Delinquency of Press Releases

  • On May 26, 2006 IDS was scheduled to announce the signing of contracts with new HLS "Strategic Partners."[5] IDS released an announcement that the contract signing would be delayed until 12pm E.S.T. when a courier with signed documents would arrive. However, no contracts or explanation were subsequently announced.
  • On two occasions IDS has stated intentions to send letters to shareholders to update new events, but never actually sent any letters or offered explanation.
  • On August 28, 2006 IDS announced they would release an afternoon press release detailing new HLS Bioflash purchases. No press release or explanation was ever issued. The next IDS press release was August 31st, in which IDS postponed the anticipated announcement of the HLS buyout until September 5, citing flight delays caused by Hurricane Ernesto. No press release was issued September 5. A press release was issued on September 6 containing no new information on the HLS and IDS buyout.
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Tax Delinquency

IDS Worldwide, Inc may [owe $214,355.36 in back taxes to the State of Delaware]. These taxes appear to be several years delinquent. [citation needed]

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Share Dilution

The IDS Ceo insists there is no share dilution. Presently, this may be impossible to verify since IDS is not required to publish share information, and the IDS transfer agent will no longer release information to the public.

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Independent Research

Some facts from pinksheets.com: Authorized Shares: 100,000,000 as of 2005-06-30 par value $0.10 per share Formerly=Syntech International, Inc. until 6-05

Pinksheets has a link to the SEC filings on Syntech International for 1997 and 1998.

Syntech International Inc. Item 1(b): Address of Issuer's Principal Executive Offices: 5601 Bridge St. Suite 327 Fort Worth, TX 76112 Common New $0.10 Par Value

A divison of Spear, Leeds and Kellog owned close to 20% of syntech stock.

Syntech Intl in Texas in 1998 seems unrelated to the IDS in Florida.

Search didn't reveal any Syntech at this address now.

Perhaps, Syntech International was related to either Syntech Chemicals http://www.syntech.com/ or Syntech Fuelmaster http://www.syntech-fuelmaster.com/ Both of these companies have offices in Texas and are unrelated to IDS.

Pinksheets gets all above stated information directly from the company and distributes to financial data providers such as Bloomberg. What kind of paperwork was filed by IDS that it linked IDWD to Syntech International that traded on OTCBB under the symbol SYTI back in 1997 and 1998?

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History

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Fundamentals

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Technical Analysis

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Official Links

Note: Beginning May 1, 2007, all four of the IDWD websites listed below are offline with "404 Not Found" error messages.

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Research Links

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Rumors

Discuss rumors on the Talk Page and link to the topics here. Other discussion can take place in the chat room (open "Launch Chat window" at the top of the page).

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Message Boards

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Notes

  1. ↑ http://www.ids-worldwide.com/ids/newsdetail.php?news_id=333 IDS Press Release August 28, 2006
  2. ↑ 2.0 2.1 http://biz.yahoo.com/iw/070227/0220795.html Feb 27 Conference Call
  3. ↑ http://www.995ad.com/general/snakelure.php IDS Snake Lure Description
  4. ↑ 4.0 4.1 4.2 http://www.seminolesheriff.org/drawRegistration.php?registration[rfn]=2613 Seminole County Sheriff's webpage
  5. ↑ http://www.ids-worldwide.com/ids/newsdetail.php?news_id=289 IDS Press Release May 26, 2006
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