LocatePLUS™ Holdings Corp. (OTCBB: LPLHA)

In September of 2002 we made a rare exception to our rule of featuring only publicly-traded companies by bringing to your attention the compelling story behind LocatePLUS™ Holdings, a vast warehouse of detailed public information invaluable in an array of applications. We liked the story then and thought that it was just a matter of time before it would arrive on an exchange somewhere.  Well, we were right!

LocatePLUS’s technology was and is an amazing tool that companies in the information age are growing to rely on, and it has been  making quite a stir of late with its share price rising conspicuously, literally doubling over the last three months or so, on the heels of numerous news announcements.  And it appears the stream of announcements is not finished.  Today the company announced another contract - this time with the Boston Field Office of the FBI - Anti-Terrorism Unit. 

Read the entire news release by clicking here and read on to find out more about this exciting company.
 

About LocatePLUS™

LocatePLUS™ Holdings (OTCBB: LPLHA, LPLHB and LPLHW) is the industry leader in providing online investigative solutions to law enforcement, legal and insurance professionals, licensed investigators, and other related businesses. It is one of the fastest growing providers of public information in the world.  The company also sells a CD-ROM-based product, through its subsidiary Worldwide Information, that enables users to search certain motor vehicle records and drivers' license information in multiple states through a dynamic search engine, using complete or partial information. The company also maintains a database that is accessible through the Internet, known as LocatePLUS.com. 

The LocatePLUS.com product contains searchable and cross-referenced public information on approximately 98% of the adult population in the United States, including individuals' names, addresses, dates of birth, Social Security numbers, prior residences, and, in certain circumstances, real estate holdings, recorded bankruptcies, liens, judgments, drivers' license information and motor vehicle records. All of this data is maintained in one of the largest and most comprehensive XML data sources of its kind, capable of national delivery. 

LocatePLUS' customer base approaches 15,000 members, including over 2,000 law enforcement agencies, as well as many major police departments across the country. Clients include many of the nation's leading agencies, such as the Department of Homeland Security (U.S. Immigration and Customs Enforcement), FBI (Federal Bureau of Investigation), ATF (Bureau of Alcohol, Tobacco, Firearms and Explosives) and DEA (Drug Enforcement Administration). With billions of online public records available to the investigative community, LocatePLUS.com is emerging as a substantial national database service that is used to prevent terrorism and fight crime.
 

The Technology & Services

LocatePLUS' flagship product is its Internet accessible, subscription-based LocatePLUS.com.  LocatePLUS.com provides 24/7, online, secure access to the company's 100-terabyte database.  The company routinely makes enhancements to its database, recently incorporating EMC storage solutions to enrich the search capabilities and increase the robustness of its intelligence product offerings.  In addition, the company has made strategic investments by purchasing and licensing unique data sets, including individual and corporate records, to deliver multiple product offerings to customers and channel partners. 

LocatePLUS.com continues to stay at the leading-edge of the competition by providing significant savings and superior product lines when compared to ChoicePoint (NYSE:CPS) and the LexisNexis unit of Reed Elsevier NV (NYSE:ENL).
 

Products and Markets

LocatePLUS Anywhere™ - provides law enforcement, private investigators, corporate security, insurance professionals and other customers complete access to LocatePLUS.com from a wireless device. 

LPPolice.com - designed exclusively to meet the budget constraints of state and local law enforcement, provides
secure online access to LocatePLUS.com in both wired and wireless formats. 

Bulls-Eye™ - a patent-pending, cross-referencing search engine that is fully integrated into the company's product line. 

Corporate Investigative Product - comprises in-depth information on virtually every business in the US. 

Dataphant Cellular Telephone Data Product - delivers the industry's first reverse look-up on a cellular telephone number, with information on roughly 90% of the nation's unpublished telephone numbers, and up to 25% of U.S. cellular telephone numbers. 

The Markets 

The data market is an important driver of economic growth today and offers a tremendous market opportunity for LocatePLUS.  It is estimated that 200,000 different organizations in the US provide public information that needs to be consolidated, protected and distributed in an efficient manner.  LocatePLUS concentrates on two main customer segments, business-to-business and business-to-government.  Credit fraud and identity theft are two of the most viable crimes in the US, thus affecting businesses, anti-terrorism taskforces and law enforcement agencies. 

LocatePLUS continues to capture key contracts and increase sales to meet strong market demand for its products.  Worldwide Information continues to generate recurring revenues and is poised to continue a profitable trend through consistent expansion and new product roll-outs.  LocatePLUS anticipates additional market penetration in government and national law enforcement agencies over the next 24 months for LPPolice.com.
 

Strategic Acquisitions and Channel Partners

Entersect, a wholly-owned subsidiary of LocatePLUS Holdings Corp., is a specialized provider of online solutions serving the human resources, legal and Internet- based career portal communities.  Entersect has developed the revolutionary online resume verification service, CareerScreen(TM).  Utilizing the identity validation database of LocatePLUS, CareerScreen allows job candidates and employers the ability to verify that the information contained in a resume is correct, effectively completing the first step in the pre-screening and hiring process. 

Channel Partners Include: 

CareerBuilder.com - a leading US job site. 

Loislaw - a division of Aspen Publishing, Inc., a provider of proprietary online legal research information and tools. 

Earthlink (NASDAQ:ELNK) - leading national Internet Service Provider.

Imaging Automation - a global leader in automated document authentication and identity verification technologies.

In addition, the company is focused on expanding its delivery options, recently joined the Developer Programs of Motorola (NYSE:MOT), Nextel (NASDAQ:NXTL) and Sprint PCS (NYSE:PCS), which should extend its products into new, wireless formats, as well as enhance its selling and marketing efforts internationally.
 

Recent Results

In line with previously announced revenue guidance, the Company reported record total revenues of $3,398,777 for the year-ended December 31, 2003, an increase of 79% as compared to total revenues of $1,903,789 for the year-ended December 31, 2002. The Company reduced its net loss to $(0.03) per share for the year ended 2003 as compared to a net loss of $(0.04) per share for the year ended 2002. Basic and fully diluted weighted average shares outstanding were 130,299,353 at year-end 2003 as compared to 108,397,027 shares outstanding at year-end 2002.

For the fourth quarter of 2003, the Company reported total revenues of $984,740, 8% higher than its previously announced revenue guidance of $910,000 and 17% higher than the $844,171 reported in the previous quarter. Fourth quarter 2003 revenues increased 40% as compared to $702,339 in revenues in the fourth quarter of 2002, excluding engineering service revenue of $53,333. The Company reported a net loss of $(0.01) per share in the fourth quarter of 2003 as compared to a net loss of $(0.01) per share in the fourth quarter of 2002. Net loss of $(0.01) per share in the fourth quarter of 2003 was slightly higher than the Company’s previously announced guidance for a net loss of less than $(0.01) per share.

As of December 31, 2003, the Company reported total assets of $7,313,358 with total current assets of $4,066,502 and $1,522,922 in cash and cash equivalents. As of December 31, 2003, total liabilities were $4,959,724.

LocatePLUS CEO Jon Latorella stated, "Record fourth quarter and year-end financial results validate our claim that our business is very scaleable. I believe that we are only at the cusp of demonstrating our potential to the marketplace. While year-over-year revenues jumped by nearly 80%, revenues derived from direct online and channel partnership efforts also increased sharply on a sequential basis. An expanding product suite penetrating multiple sales verticals, including large, scaleable contracts, bodes well for our 2004 performance and should enable us to continue our trend of strong top-line improvements."

To read the entire news release including click here

Financial Highlights

 
 

Business: High Technology - Homeland Security  Recent Price:  $0.56(A Shares) - $0.35 (B Shares) 2/23/04 52-Week Range:$0.12 - 0.76 (A shares)                              $0.10 - 0.43 (B shares) Average Daily Volume: 916,000 (A Shares)  Common Shares Outstanding: Total 149 million Market Cap: 68.11 million  Est. Float: 110 million

For Current News and Stock Price Information Click Here
 

INVESTOR RELATIONS CONTACT

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