Verichip Corporation: R.I.P.

By Darren Weeks

I just learned that the Verichip Corporation, the satanic company that brought you the implantable microchip for humans and animals, is selling off its XMark division to Stanley Works. XMark has been Verichip's most-profitable division.

In addition to the sale, Mary Catherine O'Connor breaks the news in the May 20th edition of RFID Journal that the company will be insolvent without its most profitable division. If the sale goes through, they plan to liquidate the rest of their assets.

This is a huge victory for all freedom-loving individuals, and especially for people like Dr. Katherine Albrecht and Liz McIntyre who have worked tirelessly for years to expose what these companies are about, and have recently blown wide open the fact that these implantable microchips are known to cause cancer in the animals wherein they are injected.

Quote from RFID Journal:

After VeriChip went public in February (see VeriChip Launches IPO), VeriTrace generated the first revenue for the company's implantable division. And in its financial report for the first quarter of 2008, the Delray Beach, Fla., firm indicated that its losses shrank. It lost $2.8 million, or 30 cents per share, on revenue of $8.6 million. In the prior-year quarter, it lost $3.3 million, or 47 cents a share, on revenue of $7.1 million. What's more, its gross profit was up by 5.4 percent.

VeriChip's implantable business, however, only generated $3,000 in revenue in the quarter ending March 31, 2008, during which the company saw a $1.9 million loss. According to a press statement released by Stanley, Xmark generates annual revenues in excess of $30 million, so without that revenue, VeriChip's implantable business would be unsustainable.

When the Xmark sale is complete, VeriChip plans to use the $45 million from Stanley to pay outstanding debt, then utilize $15 million of the remaining $21.4 million to pay shareholders a special dividend. If the firm sells the VeriMed business or the whole of VeriChip, it plans to propose a second, special dividend to its stockholders consisting of all remaining distributable cash then held by VeriChip.

Privacy advocates have long complained that VeriChip's implantable tag could put consumers' personal privacy at risk, proposing that the tags could be read without a carrier's knowledge. A news report released last fall, linking implanted RFID transponders to tumors in lab mice, caused additional public relations hurdles for the company (see VeriChip Defends the Safety of Implanted RFID Tags). [Full Article...]

Verichip's implantable business only generated $3,000 in three months, according to the article. That means that nobody wants to be implanted with a microchip. Hmmmm. Maybe people are smarter than we give them credit for being.

Obviously, this isn't the end of the push to track, monitor, and ultimately implant every living thing on earth, but any setback for them is a good thing for us. It will be interesting to see what Stanley does with the technology. Hopefully, they won't begin implanting the chips into their products. Implanting RFID tags into items you have in your home, such as tools, is almost as bad as implanting them in people and pets. Anyone with a reader can potentially know every tagged product that you have in your home. It would be an Orwellian nightmare come true.

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