SPI Terminates Sentinel Licensing Agreement with Talis Data Systems

INDIAN HEAD, MD – (October 1, 2009) – Secured Processing Inc. (SPI) announced today that it had terminated its agreement with Talis Data Systems that was executed in July 2007 for the licensing of the Sentinel Technology. Talis is owned by Pilot Power Group and Patriot Scientific, both located in the San Diego area of Southern California. This agreement was executed between Talis and SPI when Talis purchased Holocom Multi-Domain Computers, the previous licensee located in Carlsbad, California. The agreement was terminated by SPI after Talis defaulted on past due licensing and consulting payments that were owed to SPI. Under the terms of the agreement all rights to the Sentinel technology, including any improvements made during the course of the agreement revert to SPI and Mr. Terence Flyntz, the owner of the Sentinel patents and the CEO of SPI.

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