Secured Processing Facility in Diamondhead, Mississippi destroyed by Katrina

INDIAN HEAD, MD – (November 7, 2005) – Secured Processing Inc. (SPI) announced today that its facility in Diamondhead, Mississippi was totally destroyed by Hurricane Katrina. Losses from the damage included an unspecified number of Sentinel Production Units; two Sentinel laptop prototypes; design, development, assembly and test tools; electronic parts and components; office furniture; and all IT infrastructure and computers. The SPI CEO, Terry Flyntz was in Maryland when the hurricane struck and was unable to inspect the damage until almost two weeks later. After seeing the damage, Mr. Flyntz stated that, “It looks like everything is gone and I am just hoping that all the 20+ employees we had who lived and worked on the Gulf Coast are well. Some we have not heard from at all. Hopefully we can salvage something and will relocate some employees, who are willing, to our facilities in Maryland and Virginia. The loss to the technology could be devastating and since we did not have flood insurance it could be a total loss. Today we start the process of recovery and hopefully getting back to where we were several weeks ago”.

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