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Total Identity Corp S8 021105
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</DIV></DIV><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AS FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION ON FEBRUARY 11, 2005</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
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align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registration
No. 333-________</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
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align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WASHINGTON,
DC 20549</FONT></DIV>
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style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
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align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
S-8</FONT></DIV>
<DIV
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align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REGISTRATION
STATEMENT UNDER THE</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
ACT OF 1933</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>TOTAL
IDENTITY CORP.</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of registration as specified in its charter)</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=bottom align=middle
    width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Florida</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle
    width="13%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle
    width="28%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">65-0309540</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=bottom align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
      or Other Jurisdiction</FONT></DIV></TD>
    <TD vAlign=bottom align=middle width="13%">&nbsp;</TD>
    <TD vAlign=bottom align=middle width="28%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
      Employer Identification No.)</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=bottom align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
      Incorporation)</FONT></DIV></TD>
    <TD vAlign=bottom align=middle width="13%">&nbsp;</TD>
    <TD vAlign=bottom align=middle width="28%">&nbsp;</TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top align=middle width="43%" colSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>1007
      N. Federal Highway, #A-3, Fort Lauderdale, FL</U></FONT></DIV></TD>
    <TD vAlign=top align=middle width="19%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>33304</U></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="43%" colSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
      of Principal Executive Offices)</FONT></DIV></TD>
    <TD vAlign=top align=middle width="19%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
      Code)</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="43%" colSpan=2>Registrant's telephone
      number, including area code&nbsp;<U>561-208-8101</U> &nbsp;</TD>
    <TD vAlign=top align=middle width="19%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="20%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV></TD>
    <TD vAlign=top align=left width="23%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV></TD>
    <TD vAlign=top align=left width="19%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top align=middle width="29%">&nbsp;</TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">&nbsp;</TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">Copies to:&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">&nbsp;<FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mathew
      P. Dwyer</FONT></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">&nbsp;<FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Steven
      I. Weinberger, Esq.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
      Executive Officer</FONT></DIV></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schneider
      Weinberger &amp; Beilly LLP</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
      Identity Corp.</FONT></DIV></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2200
      Corporate Blvd., N.W., Suite 210</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1007
      N. Federal Hwy, #A-3</FONT></DIV></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Boca
      Raton, FL 33431</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fort
      Lauderdale, Florida 33304</FONT></DIV></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(561)
      362-9595</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(561)
      208-8101</FONT></DIV></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=middle width="29%">
      <DIV>&nbsp;(name, address and telephone number</DIV>
      <DIV>of agent for service)</DIV></TD>
    <TD vAlign=top align=middle width="13%">&nbsp;</TD>
    <TD vAlign=top align=middle width="33%">&nbsp;</TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%" align=left></DIV></DIV></DIV><BR><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CALCULATION
OF REGISTRATION FEE</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top align=left width="19%">&nbsp;</TD>
    <TD vAlign=top align=left width="12%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%">&nbsp;</TD>
    <TD vAlign=top align=left width="12%">&nbsp;</TD>
    <TD vAlign=bottom align=middle width="10%" rowSpan=4>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">maximum</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">offering</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">price
      per</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>share</U></FONT></DIV></TD>
    <TD vAlign=bottom align=middle width="10%" rowSpan=4>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">maximum</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">aggregate</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">offering</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>price</U></FONT></DIV></TD>
    <TD vAlign=top align=left width="10%"><U></U></TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%">&nbsp;</TD>
    <TD vAlign=top align=left width="12%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%">&nbsp;</TD>
    <TD vAlign=top align=left width="12%">&nbsp;</TD>
    <TD vAlign=bottom align=middle width="10%" rowSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amount
      of</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">registration</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>fee</U></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Title
      of securities</U></FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>to
      be registered</U></FONT></DIV></TD>
    <TD vAlign=bottom align=middle width="12%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Amount
      to be registered</U></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%"><U></U></TD>
    <TD vAlign=top align=left width="12%"><U></U></TD>
    <TD vAlign=top align=left width="10%"><U></U></TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%">&nbsp;</TD>
    <TD vAlign=top align=left width="12%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="19%" rowSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common
      Stock, $.01</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">par
      value per share (1)</FONT></DIV></TD>
    <TD vAlign=top align=left width="12%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=middle width="19%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2,500,000</FONT></DIV></TD>
    <TD vAlign=top align=middle width="12%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$.045</FONT></DIV></TD>
    <TD vAlign=bottom align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$112,500</FONT></DIV></TD>
    <TD vAlign=top align=middle width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$13.24</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      calculation is made solely for the purpose of determining the registration
      fee pursuant to the provisions of Rule 457(h) under the Securities Act,
      and is calculated upon the average of the bid and asked price of the
      securities on the Over-the-Counter-Bulletin Board on February7,
      2005.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%" align=left></DIV></DIV></DIV><BR><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PART
I</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
registration statement relates to two separate prospectuses.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Items 1
and 2 of this Part I, and the documents incorporated herein by reference
pursuant to Item 3 of Part II of this Form S-8, constitute the first prospectus
relating to issuances to our employees, consultants and others of up to
2,500,000 shares of common stock pursuant to our 2004 Equity Compensation Plan
(the &#8220;Plan&#8221;). Pursuant to the requirements of Form S-8 and Rule 428, we will
deliver or cause to be delivered to Plan participants any required information
as specified by Rule 428(b)(1). The second prospectus, referred to as the
reoffer prospectus, relates to the reoffer or resale of any shares that are
deemed to be control securities or restricted securities under the Securities
Act of 1933.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PROSPECTUS</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
1. Plan Information</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
15, 2004, our Board of Directors initially authorized and approved the Total
Identity Corp. 2004 Equity Compensation Plan (the &#8220;Plan&#8221;). We have reserved a
total of 2,500,000 shares of our common stock for issuance upon the exercise of
options and the grant of other awards under the Plan. Awards under the Plan must
be issued only for bona fide services and may not be issued under the Plan for
services in connection with the offer and sale of securities in a capital
raising or capital promoting transaction. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shares
may be awarded under the Plan pursuant to individually negotiated compensation
contracts as determined and/or approved by the Board of Directors or
compensation committee. The eligible participants include directors, officers,
employees and non-employee consultants and advisors. There is no limit as to the
number of shares that may be awarded under the Plan to a single participant. We
anticipate that a substantial portion of the shares to be issued under the Plan
will be issued as compensation to our employees, directors, technical
consultants and advisors who provide services to us.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
itself does not require restrictions on the transferability of shares issued
thereunder. However, such shares may be restricted as a condition to their
issuance where the Board of Directors deems such restrictions appropriate.
Shares issued under awards made to our officers, directors and affiliates become
control shares, the resale of which may be covered by this prospectus. The Plan
is not subject to the Employee Retirement Income Securities Act of 1974
(&#8220;ERISA&#8221;). Restricted shares awarded under the Plan are intended to be fully
taxable to the recipient as earned income.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
2. Registrant Information and Employee Plan Annual
Information</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We will
provide to Plan participants, without charge, upon written or oral request, the
documents incorporated by reference in Item 3 of Part II of this Registration
Statement. These documents are incorporated by reference in the Section 10(a)
prospectus. We will also provide without charge, upon written or oral request,
all other documents required to be delivered to recipients pursuant to Rule
428(b). Requests should be made to us at our principal offices located at 1007
N. Federal Hwy, #A-3, Fort Lauderdale, Florida 33304, (561)
208-8101.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>THESE
SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION, NOR HAS THE COMMISSION PASSED ON THE ACCURACY OR ADEQUACY OF THE
PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No person
has been authorized by us to give any information or to make any representation
other than as contained in this prospectus and, if given or made, such
information or representation must not be relied upon as having been authorized
by us. Neither the delivery of this prospectus nor any distribution of the
shares of common stock issuable under the terms of the Plans shall, under any
circumstances, create any implication that there has been no change in our
affairs since the date hereof.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>THIS
PROSPECTUS DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES IN ANY STATE TO ANY
PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER IN SUCH
STATE.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The date
of this prospectus is February 11, 2005</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REOFFER
PROSPECTUS</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>TOTAL
IDENTITY CORP.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>2,500,000
Shares of Common Stock</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>($.01
par value)</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
prospectus forms a part of a registration statement, which registers an
aggregate of 2,500,000 shares of common stock issued or issuable from
time-to-time under the Total Identity Corp. 2004 Equity Compensation Plan (the
&#8220;Plan&#8221;). </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
Identity Corp. is referred to in this prospectus as "Total Identity,&#8221; the
&#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our.&#8221; The 2,500,000 shares covered by this prospectus
are referred to as the &#8220;shares.&#8221; Persons who are issued shares are sometimes
referred to as the "selling security holders."</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
prospectus also covers the resale of shares by persons who are our &#8220;affiliates&#8221;
within the meaning of federal securities laws. Affiliated selling security
holders may sell all or a portion of the shares from time to time in the
over-the-counter market, in negotiated transactions, directly or through brokers
or otherwise, and at market prices prevailing at the time of such sales or at
negotiated prices, but which may not exceed 1% of our outstanding common stock
in any three month period. Affiliated selling security holders using this
prospectus for resale purposes may be identified in a prospectus supplement to
be filed from time-to-time.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We will
not receive any proceeds from sales of shares by selling security
holders.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">These
securities have not been approved or disapproved by the Securities and Exchange
Commission nor has the Commission passed on the accuracy or adequacy of this
prospectus. Any representation to the contrary is a criminal
offense.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
prospectus does not constitute an offer to sell securities in any state to any
person to whom it is unlawful to make such offer in such state.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The date
of this prospectus is February 11, 2005.</FONT></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>AVAILABLE
INFORMATION</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
subject to the informational requirements of the Securities Exchange Act of
1934, as amended, and, in accordance therewith, we file reports, proxy
statements and other information with the Securities and Exchange Commission.
Reports, proxy statements and other information filed with the Commission can be
inspected and copied at the public reference facilities of the Commission at 450
Fifth Street, N.W., Washington, D.C. 20549. Copies of this material can also be
obtained at prescribed rates from the Public Reference Section of the Commission
at its principal office at 450 Fifth Street, N.W., Washington, D.C. 20549. The
Commission also maintains a website on the Internet that contains reports, proxy
and information statements and other information regarding registrants that file
electronically with the Commission at http://www.sec.gov. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following documents filed by us with the Commission are incorporated herein by
reference and made a part hereof:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Annual
      Report on Form 10-KSB filed on May 11, 2004 </FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on May 20, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly
      Report on Form 10-QSB filed on June 15, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on August 5, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly
      Report on Form 10-QSB filed on September 24, 2004, as amended by Form
      10-QSB/A filed on September 28, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on December 7, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly
      Report on Form 10-QSB filed on December 17, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on December 29, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on January 4, 2005</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on January 14, 2005</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on February 4,
2005</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
reports and documents filed by us pursuant to Section 13, 14 or 15(d) of the
Exchange Act, prior to the filing of a post-effective amendment which indicates
that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the respective date of filing of
such documents. Any statement incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this prospectus to the extent that
a statement contained herein or in any other subsequently filed document, which
also is or is deemed to be incorporated by reference herein, modifies or
supersedes such statement. Any statement modified or superseded shall not be
deemed, except as so modified or superseded, to constitute part of this
prospectus.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We hereby
undertake to provide without charge to each person, including any beneficial
owner, to whom a copy of the prospectus has been delivered, on the written
request of any such person, a copy of any or all of the documents referred to
above which have been or may be incorporated by reference in this prospectus,
other than exhibits to such documents. Written requests for such copies should
be directed to Corporate Secretary, Total Identity Corp., </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1007 N.
Federal Hwy, #A-3, Fort Lauderdale, Florida 33304</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>THE
COMPANY</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
in the past and intend to continue to acquire assets and/or businesses that we
believe are undervalued, and to operate those assets and businesses until such
time as management determines that disposition is in our best interests. Until
recently, our only business operations consisted of the manufacture and sale of
custom-made signs through Total Identity Systems, Inc. (&#8220;TISC&#8221;). For the reasons
described below, we have treated the operations of TISC as discontinued
operations as of November 30, 2004, and, accordingly, our financial statements
for the quarter ended September 30, 2004 reflect the impact of discontinuing the
operations of TISC.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Recent
Developments</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Unregistered
Sales of Equity Securities</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 3, 2005, we sold 500,000 shares of our common stock to Wall
Street-Review Financial Services, Inc. for an aggregate purchase price of
$25,000 or $.05 per share. The sole officer and director of Wall Street-Review
Financial Services, Inc. is also our sole officer and director. The $.05 per
share purchase price was the closing bid price for our common stock on the date
of purchase. The proceeds from the sale are being used for general working
capital purposes.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Acquisition
of Assets; Share Dividend; Rescission</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 15, 2004, our wholly owned subsidiary Total Digital Displays, Inc.
n/k/a Total Digital Communications, Inc. (&#8220;Total Digital&#8221;) acquired certain
assets from Leonard Lightman, including the seller&#8217;s rights under a purported
license agreement with Major League Baseball. The purchase price for the assets
was paid by the issuance of 10,000,000 shares of Total Digital&#8217;s common stock to
the seller. The 10,000,000 shares represented approximately 93% of Total
Digital&#8217;s outstanding common stock at the time of issuance.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 29, 2004, we distributed to our shareholders of record on December 15,
as a dividend, an aggregate of 804,929 shares, constituting all of the common
stock of Total Digital owned by us. One share of Total Digital was distributed
for each 20 shares of our common stock held on the record date. The dividend was
paid without registration under the Securities Act of 1933, as amended, because
no sale was involved and our counsel delivered its opinion that the transaction
complied with the requirements of SEC Staff Bulletin 4.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 11, 2005, we determined that the seller of the assets had fraudulently
misrepresented to us that the seller owned a license from Major League Baseball
when, in fact, the seller did not own any such license. As a result, on January
11, 2005, we notified the seller of claims we have against it, and demanded
rescission of the asset purchase agreement, including its return of the
10,000,000 shares of Total Digital. To date, the seller has not complied with
our demands. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the foregoing, the opinion of counsel that caused the shares of Total Digital
to be issued without legend has been withdrawn, and we are treating the shares
of Total Digital that were distributed to our shareholders as restricted
securities. At this time, Total Digital has no assets and there is no market for
the shares of Total Digital. We are currently reviewing our legal rights with
counsel and are evaluating whether to commence suit for rescission and damages
against the seller of the assets.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Threatened
Lawsuit</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
been advised that a lawsuit has been commenced in the Supreme Court of the State
of New York, County of Monroe, under the caption </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stephen
E. Webster v. Richard Dwyer, Matthew P. Dwyer, Phillip Mistretta, Total Digital
Displays, Inc., Leslie W. Kernan, Jr., Lacy Katzen LLP, et al. </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">While we
understand that the plaintiff also intends to assert claims against Total
Identity Corp. and others, neither the Total Identity Corp., Richard Dwyer,
Matthew P. Dwyer nor Total Digital Displays, Inc. has been served in connection
with this purported lawsuit. The plaintiff, Stephen E. Webster, previously
purchased a $125,000 debenture from Total Identity Corp. We understand the
plaintiff is seeking payment of the convertible debenture by alleging that he
was fraudulently induced to purchase the debenture. We believe that (a) the
plaintiff may have a relationship with Argilus, Inc., the respondent in a
pending arbitration proceeding commenced by us, and (b) the plaintiff, due to
its relationship with Argilus, may have been induced by Argilus to commence the
suit as a strategic tactic in connection with the pending arbitration between
the Company and Argilus. Until such time as we or our affiliates are served in
this proceeding, we are unable to provide further information.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Discontinued
Operations</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Lawsuit
Relating to Total Identity Systems Corp.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are a
party to an on-going legal dispute with Robert David, the former owner of TISC.
A primary aspect of the disagreement is our contention that information provided
to us by Mr. David concerning TISC&#8217;s banking relationship with Mercantile and
Trader&#8217;s Trust Company, a bank that has made loans to TISC (the &#8220;Bank&#8221;), was
materially inaccurate. The Bank had previously noticed a default against TISC
under the promissory note and other loan agreements between TISC and the Bank
(the &#8220;Loan Documents&#8221;). However, we have been paying down TISC&#8217;s debt, to the
Bank and had been engaged in on-going discussions with the Bank designed to pay
TISC&#8217;s debts to the Bank on a mutually satisfactory basis. </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On or
about November 24, 2004, we learned that the Bank had exercised certain rights
granted under the Loan Documents and had &#8220;swept&#8221; TISC&#8217;s accounts aggregating
approximately $200,000 maintained at the Bank, and applied the proceeds to the
outstanding indebtedness of TISC to the Bank in the current amount of
approximately $800,000. In addition, (a) on November 27, 2004, we learned that
the Bank had notified the United States Post Office that it was exercising its
rights under the Loan Documents to take control over all mail directed to us and
(c) on December 6, 2004, we learned that the Bank had changed the locks at
TISC&#8217;s Rochester, New York facility, and was seeking to take control over TISC&#8217;s
assets in order to satisfy TISC&#8217;s indebtedness to the Bank </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
exercising these rights, the Bank has prevented TISC from conducting and funding
its day-to-day operations, and, accordingly, TISC&#8217;s operations have ceased. In
light of the actions taken by the Bank, including our loss of control over
TISC&#8217;s records and operations and the prospect that our registered public
accounting firm will hereafter be unable to audit TISC&#8217;s books and records, we
have treated the operations of TISC as discontinued operations as of November
30, 2004, and, accordingly, our financial statements for the quarter ended
September 30, 2004 reflect the impact of discontinuing the operations of TISC.
As noted under FASB 5 paragraph 11 the Company is presenting the discontinued
operations of TISC to keep the financial statements from being
misleading.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT size=2></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 13, 2004, we notified the escrow agent holding the shares of TISC we
acquired from Mr. David and TISC, that, without waiving any rights we have
against Mr. David, the escrow agent may release the shares to Mr. David. We have
received notice that Mr. David has disclaimed ownership of the shares, rejected
delivery of the shares from the escrow agent and sought to amend his demand for
arbitration to eliminate his request for return of the collateral to him. It
remains uncertain what effect our release of the shares from escrow will have on
ownership of the TISC shares or on the outcome of the pending legal disputes
between TIC and Robert David.</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the discontinued operations of TISC, we no longer engage in any revenue
producing activities. We are currently seeking other possible acquisition
candidates in the manufacturing sector to help increase shareholder value. Until
we are able to identify and consummate additional business combinations, we will
require additional funding in order to pay our expenses, including the costs of
continuing pending litigation and complying with disclosure and other
obligations under Federal securities laws. At this time, we have not yet
identified any additional acquisition candidates and have no commitments from
any party to provide us with working capital.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Settlement
of Dispute with Former Director</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May
13, 2004, we and Scott Siegel, one of our director, entered into an agreement
resolving certain disputes that had arisen relating to the ownership of
1,050,000 shares of our common stock and 250,000 shares of our Series A
preferred stock that were the subject of a stock purchase agreement dated
February 21, 2003. Under the terms of the agreement:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Siegel retained 250,000 shares of common stock (the &#8220;Retained
      Shares&#8221;);</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Retained Shares will be held by our designee and delivered to Mr. Siegel
      at the rate of 50,000 shares per month commencing on the earlier of
      November 13, 2004 or on the effective date of a registration statement
      filed by us to register the resale of shares of its common stock (not
      including the Retained Shares) that may be issued in future financing
      transaction; </FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Retained Shares will be the subject of a voting proxy in favor of our
      designee for a period terminating in 18 months, or earlier to the extent
      of a bona fide disposition by Mr. Siegel of the Retained Shares subject to
      the proxy; we have not yet released any of the Retained Shares and are
      awaiting receipt of the proxy referred to in the preceding paragraph prior
      to doing so;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">800,000
      shares of common stock issued to Mr. Siegel under the February 21, 2003
      stock purchase agreement were surrendered to us and have been
      canceled;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      agreed to pay Mr. Siegel the sum of $35,265, plus $7,000 less an amount
      equal to our legal fees in settlement of this
matter;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      amount payable to Mr. Siegel will be paid (a) one-third for each million
      in financing raised by us after June 27, 2004 or (b) pro-rata to the
      extent that other of our officers or directors receives repayment of
      indebtedness from third-party financing obtained us subsequent to June 27,
      2004; </FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Series A preferred stock has been surrendered to us and canceled;
      and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Siegel resigned as a director effective May 13,
2004.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Corporate
Matters</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 10, 2004 Jeffrey Hoffman resigned as the Company&#8217;s Chief Financial
Officer. Matthew P. Dwyer currently serves as our sole officer and
director.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
November 24, 2004 Neil Dolgin and Dr. Martin Peskin each tendered his
resignation from the Company&#8217;s Board of Directors</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
30, 2004, following authorization by our Board of Directors, we amended our
Articles of Incorporation to eliminate previously authorized Series A and Series
B preferred stock. No shares of Series A or Series B preferred stock were
outstanding at the time of the elimination.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
1, 2004, following authorization by our Board of Directors, we amended our
Articles of Incorporation to establish a series consisting of 1,250,000 shares
of Series 1 preferred stock. The Series 1 preferred stock provides for a
liquidation preference of $1.00 per share, prior to any liquidation
distributions to holders of common stock. The Series 1 preferred stock accrues
dividends at the rate of 12%, payable in arrears, in cash or by the issuance of
shares of Series 1 preferred stock, Each share of Series 1 preferred stock is
entitled to one vote per share, and votes along with common stockholders on all
matters submitted to a vote of common stockholders. Each share of Series 1
preferred stock may be redeemed by the Company at a price of $1.00 per share, on
ten days prior written notice. No shares of Series 1 preferred stock have been
issued.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>RISK
FACTORS AFFECTING OUR FUTURE RESULTS OF OPERATIONS</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
future results of operations involve a number of risks and uncertainties. The
following paragraphs discuss a number of risks that could impact our financial
condition and results of operations.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>We
have no current business operations and are dependent upon identifying an
operating business to acquire in order to generate revenues and pay our
operating expenses.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of actions taken by an institutional lender, the operations of Total
Identity Systems Corp. have ceased and we currently engage in no
revenue-producing activities. At this time, our operating expenses are being
paid through loans from our affiliates. There is no assurance that our
affiliates will be able to continue to fund our operating expenses. Accordingly,
we are dependent on identifying and acquiring an operating business in order to
generate revenues to fund operating expenses. If we are unable to acquire an
operating business or otherwise fund our operating expenses, we may be required
to cease operations. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>We
are a party to an on-going lawsuit, the results of which are uncertain, and an
adverse outcome to which could require us to pay a substantial
judgment.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are a
party to an on-going legal dispute with Robert David, the former owner of TISC.
A primary aspect of the disagreement is our contention that information provided
to us by Mr. David concerning TISC&#8217;s banking relationship with Mercantile and
Trader&#8217;s Trust Company, a bank that has made loans to TISC (the &#8220;Bank&#8221;), was
materially inaccurate.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
described elsewhere in this prospectus, the Bank has exercised certain rights
and taken actions that have prevented TISC from conducting and funding its
day-to-day operations, and, accordingly, TISC&#8217;s operations have ceased. On
December 13, 2004, we notified the escrow agent holding the shares of TISC we
acquired from Mr. David and TISC, that, without waiving any rights we have
against Mr. David, the escrow agent may release the shares to Mr. David. We have
received verbal confirmation that Mr. David has disclaimed ownership of the
shares, rejected delivery of the shares from the escrow agent and sought to
amend his demand for arbitration to eliminate his request for return of the
collateral to him. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It
remains uncertain what effect our release of the shares from escrow will have on
ownership of the TISC shares or on the outcome of the pending legal disputes
between TIC and Robert David. In the event we are unsuccessful in our claims
against Mr. David, we could become subject to the payment of substantial
damages, the amount of which could force us to seek protection under bankruptcy
laws.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Our
continued issuance of shares of common stock in payment of management
compensation and consulting fees is dilutive to our existing
shareholders.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
our lack of revenues and income, we have historically paid compensation to our
Chief Executive Officers and certain other officers and consultants through the
issuance of options shares of our common stock, including shares issued and
issuable upon the exercise of options. In some cases, the shares have been
issued, including upon the exercise of options, at less than fair market value.
The issuance of these shares is dilutive to the equity ownership of our shares
by other stockholders and the issuance of shares at less than fair market value
is dilutive to the book value of our common stock. Our lack of revenues may
require that we continue to dilute shareholders through the issuance of our
shares to management and consultants.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>There
is uncertainty concerning the status of shares of our subsidiary that were
distributed to our shareholders.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
previously distributed shares of our former subsidiary, Total Digital Displays,
Inc., to our shareholders. Subsequent to the distribution, we determined that
the assets that were acquired by our subsidiary prior to the distribution did
not exist and that we and Total Digital Displays had been fraudulently induced
to purchase the assets. </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result, we have notified the seller of claims we have against it, and demanded
rescission of the asset purchase agreement, including its return of the
10,000,000 shares of Total Digital issued to the seller under the asset purchase
agreement. To date, the seller has not complied with our demands and has denied
wrongdoing.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the foregoing, the opinion of counsel that caused the shares of Total Digital
to be issued without legend has been withdrawn, and we are treating the shares
of Total Digital that were distributed to our shareholders as restricted
securities. At this time, Total Digital has no assets and there is no market for
the shares of Total Digital. We are currently reviewing our legal rights with
counsel and are evaluating whether to commence suit for rescission and damages
against the seller of the assets.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At this
time, we cannot determine whether we will reacquire Total Digital as a
subsidiary, the legal status of the shares of Total Digital that were
distributed to our shareholders, or otherwise predict the impact that the
foregoing facts will have on our operations.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Our
financial condition may require us to withdraw as a reporting company under the
Securities Exchange Act of 1934, which could make it more difficult to obtain
current information about us, and adversely affect the market price for our
shares.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
shares are currently listed on the OTC Bulletin Board. As a condition of
continued listing, we are required to file annual, quarterly and current reports
under the Securities Exchange Act of 1934. These reports provide material
information about us and enable investors to make informed investment decisions
about us. In the event we are unable to generate revenues to pay our operating
expenses, we will likely be required to take action to reduce our expenses.
Those actions may include withdrawing as a reporting company, thereby
eliminating certain on-going professional fees and other expenses. In the event
that we withdraw as a reporting company:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
      shares will be delisted from the OTC Bulletin Board, although trading in
      our shares may continue on the Pink Sheets;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
      will be limited information publicly available about us;
    and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investors
may have difficulty in buying and selling our shares.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>There
is substantial doubt as to our ability to continue as a going
concern.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to continue as a going concern is dependent on our ability to raise
funds to implement our development of a business plan. Our poor financial
condition could inhibit our ability to achieve a business plan, due to current
operations that are reflecting substantial losses. The future prospect of
profitability is severely in doubt. Because of these difficulties, our
independent auditors have expressed substantial doubt as to our ability to
continue as a going concern.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Lack
of funding will adversely affect our ability to generate
revenues.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our goals
are all contingent upon raising debt or equity funding. Currently there are
limited sources for this necessary funding. There are significant risks,
difficulties, delays and unforeseen expenses associated with companies with
limited or no operating history. Constraints we face due to a lack of funding
include:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inability
      to generate necessary revenue to operate for the next 12 months or
      thereafter;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
      costs that may exceed our current
estimates;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Unanticipated
      development expenses; and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
      ability to generate sufficient revenues to offset the substantial costs of
      operating our business.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Start-up
expenses and future losses will adversely affect our
operations.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Because
of significant up-front expenses required to enter into new businesses, we
anticipate that we may incur losses until revenues are sufficient to cover our
operating costs. Future losses are likely before our operations become
profitable. As a result of our lack of operating history, you will have no basis
upon which to accurately forecast our:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
      assets, liabilities, and equity;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
      revenues;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
      and operating margins; and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Labor
      costs.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accordingly,
any subsequent business plans may not either materialize or prove successful,
and we may never be profitable.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Our
management may be unable to effectively integrate future acquisitions and to
manage our growth, and we may be unable to fully realize any anticipated
benefits of any acquisition.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
business strategy includes growth through acquisition and internal development.
We are subject to various risks associated with our growth strategy, including
the risk that we will be unable to identify and recruit suitable acquisition
candidates in the future or to integrate and manage the acquired companies.
Acquired companies&#8217; histories, geographical locations, business models and
business cultures can be different from ours in many respects. If we should
consummate one or more acquisitions, our directors and senior management will
face a significant challenge in their efforts to integrate our business and the
business of the acquired companies or assets, and to effectively manage our
continued growth. There can be no assurance that our efforts to integrate the
operations of any acquired assets or companies acquired in the future will be
successful, that we can manage our growth or that the anticipated benefits of
these proposed acquisitions will be fully realized. The dedication of management
resources to these efforts may detract attention from our day-to-day business.
There can be no assurance that there will not be substantial costs associated
with these activities or of the success of our integration efforts, either of
which could have a material adverse effect on our operating
results.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Our
strategy of seeking joint ventures or strategic alliances may be
unsuccessful.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We may
also choose to expand our operations by entering into joint ventures or other
strategic alliances with other parties. Any such transaction would be
accompanied by the risks commonly encountered in such transactions. These
include, among others, the difficulty of assimilating the operations and
personnel and other various factors. There can be no assurance should we enter
into any strategic alliance with a third party that we will be successful in
overcoming these risks or any other problems encountered in connection with
joint ventures or other strategic alliances.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>We
depend on the continued services of our executive officers and on our ability to
attract and maintain other qualified employees.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
future success depends on the continued services of our executive officers. The
loss of their services would be detrimental to us and could have a material
adverse effect on our business, financial condition and results of operations.
We do not currently maintain key-man insurance on his life. Our future success
is also dependent on our ability to identify, hire, train and retain other
qualified managerial and other employees. Competition for these individuals is
intense and increasing. We may not be able to attract, assimilate, or retain
qualified technical and managerial personnel and our failure to do so could have
a material adverse effect on our business, financial condition and results of
operations. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Our
common stock is thinly traded and an active and visible trading market for our
common stock may not develop.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
common stock is currently traded on a limited basis on the Over-the-Counter
Bulletin Board under the symbol &#8220;TIDC.&#8221; The quotation of our common stock on the
OTCBB does not assure that a meaningful, consistent and liquid trading market
currently exists. We cannot predict whether a more active market for our common
stock will develop in the future. In the absence of an active trading
market:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">investors
      may have difficulty buying and selling or obtaining market
      quotations;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">market
      visibility for our common stock may be limited;
and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      lack of visibility for our common stock may have a depressive effect on
      the market price for our common stock.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><EM>The
sale of shares eligible for future sale could have a depressive effect on the
market price for our common stock.</EM></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of the
date of this prospectus, there are 15,347,175 shares of common stock issued and
outstanding. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Of the
currently issued and outstanding shares, 8,332,550 restricted shares of common
stock have been held for in excess of one year and are currently available for
public resale pursuant to Rule 144 promulgated under the Securities Act ("Rule
144"). Unless registered on a form other than Form S-8, the resale of our shares
of Common Stock owned by officers, directors and affiliates is subject to the
volume limitations of Rule 144. In general, Rule 144 permits our shareholders
who have beneficially owned restricted shares of common stock for at least one
year to sell without registration, within a three-month period, a number of
shares not exceeding one percent of the then outstanding shares of common stock.
Furthermore, if such shares are held for at least two years by a person not
affiliated with us (in general, a person who is not one of our executive
officers, directors or principal shareholders during the three-month period
prior to resale), such restricted shares can be sold without any volume
limitation.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales of
our common stock under Rule 144 or pursuant to such registration statement may
have a depressive effect on the market price for our common stock.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><EM>It
is not possible to foresee all risks that may affect us. Moreover, we cannot
predict whether we will successfully effectuate our current business plan. Each
prospective purchaser is encouraged to carefully analyze the risks and merits of
an investment in the shares and should take into consideration when making such
analysis, among others, the Risk Factors discussed
above.</EM></STRONG></FONT></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>2004
EQUITY COMPENSATION PLAN</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Introduction</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following descriptions summarize certain provisions of the Total Identity Corp.
2004 Equity Compensation Plan. This summary is not complete and is qualified by
reference to the full text of the Plan. A copy of the Plan has been filed as an
exhibit to the registration statement of which this prospectus is a part. Each
person receiving an option or stock award under the Plan should read the Plan in
its entirety.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">June 15,
2004,</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> our
Board of Directors authorized the Plan covering 1,250,000 shares of common
stock. On February 3, 2005, the Board increased the number of shares available
for issuance under the Plan to 2,500,000 shares. As of the date of this
prospectus,</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> awards
covering 950,000</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> shares
have been made under the Plan. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
purpose of the Plan is to encourage stock ownership by our officers, directors,
key employees and consultants, and to give such persons a greater personal
interest in the success of our business and an added incentive to continue to
advance and contribute to us. Our Board of Directors, or a committee of the
Board, will administer the Plan including, without limitation, the selection of
the persons who will be awarded stock grants and granted options, the type of
options to be granted, the number of shares subject to each Option and the
exercise price.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Plan
options may either be options qualifying as incentive stock options under
Section 422 of the Internal Revenue Code of 1986, as amended, or non-qualified
options. In addition, the Plan allows for the inclusion of a reload option
provision, which permits an eligible person to pay the exercise price of the
option with shares of common stock owned by the eligible person and receive a
new option to purchase shares of common stock equal in number to the tendered
shares. </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Furthermore,
compensatory stock amounts may also be issued. Additionally, deferred stock
grants and stock appreciation rights may also be granted under the Plan. Any
incentive option granted under</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> the Plan
must provide for an exercise price of not less than 60% of the fair market value
of the underlying shares on the date of grant, but the exercise price of any
incentive option granted to an eligible employee owning more than 10% of our
outstanding common stock must not be less than 110% of fair market value on the
date of the grant. The term of each Plan option and the manner in which it may
be exercised is determined by the Board of Directors or the committee, provided
that no option may be exercisable more than ten years after the date of its
grant and, in the case of an incentive option granted to an eligible employee
owning more than 10% of the common stock, no more than five years after the date
of the grant.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
event the Plan is not approved by our shareholders prior to June 15, 2005,
</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the Plan
will not be invalidated, however, (i) in the absence of shareholder approval,
incentive stock options may not be awarded under the Plan and (ii) any incentive
stock options theretofore awarded under the Plan shall be converted into
non-qualified options upon terms and conditions determined by the Board or
committee to reflect, as nearly as is reasonably practicable in its sole
determination, the terms and conditions of the incentive stock options being so
converted.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Eligibility</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
officers, directors, key employees and consultants are eligible to receive
awards under the Plan. Only our employees are eligible to receive incentive
options.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Administration</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
will be administered by our Board of Directors or a committee established by the
Board such as a compensation committee (the "Committee"). The Board of Directors
or the Committee determines from time to time those of our officers, directors,
key employees and consultants to whom stock grants or Plan options are to be
granted, the terms and provisions of the respective option agreements, the time
or times at which such options shall be granted, the type of options to be
granted, the dates such Plan options become exercisable, the number of shares
subject to each option, the purchase price of such shares and the form of
payment of such purchase price. All other questions relating to the
administration of the Plan, and the interpretation of the provisions thereof and
of the related option agreements, are resolved by the Board or Committee.
</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Shares
Subject to Awards</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
currently reserved 2,500,000 of our authorized but unissued shares of common
stock for issuance under the Plan, and a maximum of 2,500,000 shares may be
issued, unless the Plan is subsequently amended (subject to adjustment in the
event of certain changes in our capitalization), without further action by our
Board of Directors and shareholders, as required. Subject to the limitation on
the aggregate number of shares issuable under the Plan, there is no maximum or
minimum number of shares as to which a stock grant or Plan option may be granted
to any person. Shares used for stock grants and Plan options may be authorized
and unissued shares or shares reacquired by us, including shares purchased in
the open market. Shares covered by Plan options which terminate unexercised will
again become available for grant as additional options, without decreasing the
maximum number of shares issuable under the Plan, although such shares may also
be used by us for other purposes.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
provides that, if our outstanding shares are increased, decreased, exchanged or
otherwise adjusted due to a share dividend, forward or reverse share split,
recapitalization, reorganization, merger, consolidation, combination or exchange
of shares, an appropriate and proportionate adjustment shall be made in the
number or kind of shares subject to the Plan or subject to unexercised options
and in the purchase price per share under such options. Any adjustment, however,
does not change the total purchase price payable for the shares subject to
outstanding options. In the event of our proposed dissolution or liquidation, a
proposed sale of all or substantially all of our assets, a merger or tender
offer for our shares of common stock, the Board of Directors may declare that
each option granted under the Plan shall terminate as of a date to be fixed by
the Board of Directors; provided that not less than 30 days written notice of
the date so fixed shall be given to each participant holding an option, and each
such participant shall have the right, during the period of 30 days preceding
such termination, to exercise the participant&#8217;s option, in whole or in part,
including as to options not otherwise exercisable.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Terms
of Exercise</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
provides that the options granted thereunder shall be exercisable from time to
time in whole or in part, unless otherwise specified by the Committee or by the
Board of Directors. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
provides that, with respect to incentive stock options, the aggregate fair
market value (determined as of the time the option is granted) of the shares of
common stock, with respect to which incentive stock options are first
exercisable by any option holder during any calendar year shall not exceed
$100,000.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Exercise
Price</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
purchase price for shares subject to incentive stock options must be at least
60% of the fair market value of our common stock on the date the option is
granted, except that the purchase price must be at least 110% of the fair market
value in the case of an incentive option granted to a person who is a "10%
stockholder." A "10% stockholder" is a person who owns (within the meaning of
Section 422(b)(6) of the Internal Revenue Code of 1986) at the time the
incentive option is granted, shares possessing more than 10% of the total
combined voting power of all classes of our outstanding shares. The Plan
provides that fair market value shall be determined by the Board or the
Committee in accordance with procedures which it may from time to time
establish. If the purchase price is paid with consideration other than cash, the
Board or the Committee shall determine the fair value of such consideration to
us in monetary terms.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
exercise price of non-qualified options shall be determined by the Board of
Directors or the Committee, but shall not be less than the par value of our
common stock on the date the option is granted.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The per
share purchase price of shares issuable upon exercise of a Plan option may be
adjusted in the event of certain changes in our capitalization, but no such
adjustment shall change the total purchase price payable upon the exercise in
full of options granted under the Plan.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Manner
of Exercise</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Plan
options are exercisable by delivery of written notice to us stating the number
of shares with respect to which the option is being exercised, together with
full payment of the purchase price therefor. Payment shall be in cash, checks,
certified or bank cashier's checks, promissory notes secured by the shares
issued through exercise of the related options, shares of common stock or in
such other form or combination of forms which shall be acceptable to the Board
of Directors or the Committee, provided that any loan or guarantee by us of the
purchase price may only be made upon resolution of the Board or Committee that
such loan or guarantee is reasonably expected to benefit us, and further
provided that any such loan or guarantee is permitted under applicable
law.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Option
Period</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
incentive stock options shall expire on or before the tenth anniversary of the
date the option is granted except as limited above. However, in the case of
incentive stock options granted to an eligible employee owning more than 10% of
the common stock, these options will expire no later than five years after the
date of the grant. Non-qualified options shall expire ten years and one day from
the date of grant unless otherwise provided under the terms of the option
grant.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Termination</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All Plan
options are nonassignable and nontransferable, except by will or by the laws of
descent and distribution, and during the lifetime of the optionee, may be
exercised only by such optionee, except as provided by the board of the
Committee. If an optionee shall die (a) while our employee or (b) within three
months after termination of employment by us because of disability, or
retirement or otherwise, such options may be exercised, to the extent that the
optionee shall have been entitled to do so on the date of death or termination
of employment, by the person or persons to whom the optionee's right under the
option pass by will or applicable law, or if no such person has such right, by
his executors or administrators. Options are also subject to termination by the
Committee or the Board under certain conditions.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
event of termination of employment because of death while an employee, or
because of disability, the optionee's options may be exercised not later than
the expiration date specified in the option or one year after the optionee's
death, whichever date is earlier, or in the event of termination of employment
because of retirement or otherwise, not later than the expiration date specified
in the option or one year after the optionee's death, whichever date is
earlier.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If an
optionee's employment by us terminates because of disability and such optionee
has not died within the following three months, the options may be exercised, to
the extent that the optionee shall have been entitled to do so at the date of
the termination of employment, at any time, or from time to time, but not later
than the expiration date specified in the option or one year after termination
of employment, whichever date is earlier.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If an
optionee's employment shall terminate for any reason other than death or
disability, optionee may exercise the options to the same extent that the
options were exercisable on the date of termination, for up to three months
following such termination, or on or before the expiration date of the options,
whichever occurs first. In the event that the optionee was not entitled to
exercise the options at the date of termination or if the optionee does not
exercise such options (which were then exercisable) within the time specified
herein, the options shall terminate. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If an
optionee's employment shall terminate for any reason other than death,
disability or retirement, all right to exercise the option shall terminate not
later than 90 days following the date of such termination of employment, except
as otherwise provided under the Plan.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Modification
and Termination of Plans</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Board
of Directors or Committee may amend, suspend or terminate the Plan at any time.
However, no such action may prejudice the rights of any holder of a stock grant
or optionee who has prior thereto been granted options under the Plan. Any such
termination of the Plan shall not affect the validity of any stock grants or
options previously granted thereunder. Unless the Plan shall theretofore have
been suspended or terminated by the Board of Directors, the Plan shall terminate
on</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> June 15,
2014</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Federal
Income Tax Effects</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following discussion applies to the Plan and is based on federal income tax laws
and regulations in effect on June 30, 2004. It does not purport to be a complete
description of the federal income tax consequences of the Plan, nor does it
describe the consequences of state, local or foreign tax laws which may be
applicable. Accordingly, any person receiving a grant under the Plan should
consult with his own tax adviser.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
is not subject to the provisions of the Employee Retirement Income Security Act
of 1974 and is not qualified under Section 401(a) of the Internal Revenue Code
of 1986, as amended (the "Code").</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
employee granted an incentive stock option does not recognize taxable income
either at the date of grant or at the date of its timely exercise. However, the
excess of the fair market value of common stock received upon exercise of the
incentive stock option over the exercise price is an item of tax preference
under Section 57(a)(3) of the Code and may be subject to the alternative minimum
tax imposed by Section 55 of the Code. Upon disposition of stock acquired on
exercise of an incentive stock option, long-term capital gain or loss is
recognized in an amount equal to the difference between the sales price and the
incentive option exercise price, provided that the option holder has not
disposed of the stock within two years from the date of grant and within one
year from the date of exercise. If the incentive option holder disposes of the
acquired stock (including the transfer of acquired stock in payment of the
exercise price of an incentive stock option) without complying with both of
these holding period requirements ("Disqualifying Disposition"), the option
holder will recognize ordinary income at the time of such Disqualifying
Disposition to the extent of the difference between the exercise price and the
lesser of the fair market value of the stock on the date the incentive option is
exercised (the value six months after the date of exercise may govern in the
case of an employee whose sale of stock at a profit could subject him to suit
under Section 16(b) of the Securities Exchange Act of 1934) or the amount
realized on such Disqualifying Disposition. Any remaining gain or loss is
treated as a short-term or long-term capital gain or loss, depending on how long
the shares are held. In the event of a Disqualifying Disposition, the incentive
stock option tax preference described above may not apply (although, where the
Disqualifying Disposition occurs subsequent to the year the incentive stock
option is exercised, it may be necessary for the employee to amend his return to
eliminate the tax preference item previously reported). We are not entitled to a
tax deduction upon either exercise of an incentive option or disposition of
stock acquired pursuant to such an exercise, except to the extent that the
option holder recognized ordinary income in a Disqualifying
Disposition.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If the
holder of an incentive stock option pays the exercise price, in full or in part,
with shares of previously acquired common stock, the exchange should not affect
the incentive stock option tax treatment of the exercise. No gain or loss should
be recognized on the exchange, and the shares received by the employee, equal in
number to the previously acquired shares exchanged therefor, will have the same
basis and holding period for long-term capital gain purposes as the previously
acquired shares. The employee will not, however, be able to utilize the old
holding period for the purpose of satisfying the incentive stock option
statutory holding period requirements. Shares received in excess of the number
of previously acquired shares will have a basis of zero and a holding period
which commences as of the date the common stock is issued to the employee upon
exercise of the incentive option. If an exercise is effected using shares
previously acquired through the exercise of an incentive stock option, the
exchange of the previously acquired shares will be considered a disposition of
such shares for the purpose of determining whether a Disqualifying Disposition
has occurred.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
respect to the holder of non-qualified options, the option holder does not
recognize taxable income on the date of the grant of the
non-qualified&nbsp;option, but recognizes ordinary income generally at the date
of exercise in the amount of the difference between the option exercise price
and the fair market value of the common stock on the date of exercise. However,
if the holder of non-qualified options is subject to the restrictions on resale
of common stock under Section 16 of the Securities Exchange Act of 1944, such
person generally recognizes ordinary income at the end of the six-month period
following the date of exercise in the amount of the difference between the
option exercise price and the fair market value of the common stock at the end
of the six-month period. Nevertheless, such holder may elect within 30 days
after the date of exercise to recognize ordinary income as of the date of
exercise. The amount of ordinary income recognized by the option holder is
deductible by us in the year that income is recognized.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the issuance of stock grants as compensation, the recipient must
include in gross income the excess of the fair market value of the property
received over the amount, if any, paid for the property in the first taxable
year in which beneficial interest in the property either is "transferable" or is
not subject to a "substantial risk of forfeiture." A substantial risk of
forfeiture exists where rights and property that have been transferred are
conditioned, directly or indirectly, upon the future performance (or refraining
from performance) of substantial services by any person, or the occurrence of a
condition related to the purpose of the transfer, and the possibility of
forfeiture is substantial if such condition is not satisfied. Stock grants
received by a person who is subject to the short swing profit recovery rule of
Section 16(b) of the Securities Exchange Act of 1934 is considered subject to a
substantial risk of forfeiture so long as the sale of such property at a profit
could subject the stockholder to suit under that section. The rights of the
recipient are treated as transferable if and when the recipient can sell,
assign, pledge or otherwise transfer any interest in the stock grant to any
person. Inasmuch as the recipient would not be subject to the short swing profit
recovery rule of Section 16(b) of the Securities Exchange Act of 1934 and the
stock grant, upon receipt following satisfaction of condition prerequi-sites to
receipt, will be presently transferable and not subject to a substantial risk of
forfeiture, the recipient would be obligated to include in gross income the fair
market value of the stock grant received once the conditions to receipt of the
stock grant are satisfied.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Restrictions
Under Securities Laws</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The sale
of all shares issued under the Plan must be made in compliance with federal and
state securities laws. Our officers, directors and 10% or greater shareholders,
as well as certain other persons or parties who may be deemed to be "affiliates"
of ours under federal securities laws, should be aware that resales by
affiliates can only be made pursuant to an effective registration statement,
Rule 144 or other applicable exemption. Our officers, directors and 10% and
greater stockholders may also become subject to the "short swing" profit rule of
Section 16(b) of the Securities Exchange Act of 1934.</FONT></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>SELLING
SECURITY HOLDERS</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Employment
Agreement with Matthew P. Dwyer</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 23, 2003, we entered into an employment agreement with Matthew P. Dwyer
covering Mr. Dwyer&#8217;s services as our President and Chief Executive Officer.
Under the employment agreement, as amended from time to time to the date hereof,
Mr. Dwyer receives compensation by way of a base salary in the amount of
$180,000 and options to purchase 200,000 shares of our common stock each quarter
during the term of the agreement. The options are exercisable at fair market
value, based upon the closing bid price for our common stock on the first
trading day of the quarter. This prospectus covers the resale of an aggregate of
1,000,000 shares of common stock issuable upon exercise of options granted to
Mr. Dwyer under the Plan for the period from&nbsp;October 1, 2004 through
December 31, 2005.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Selling
Security Holders</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
information under this heading relates to resales of shares covered by this
prospectus by persons who are our &#8220;affiliates" as that term in defined under
federal securities laws. Shares issued pursuant to this prospectus to our
affiliates are &#8220;control" shares under federal securities laws.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table sets forth:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      name of each affiliated selling security
holder,</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      amount of common stock owned beneficially, directly or indirectly, by each
      affiliated selling security holder,</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      amount of common stock owned beneficially, directly or indirectly, by each
      affiliated selling security holder,</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      maximum amount of shares to be offered by the affiliated selling security
      holders pursuant to this prospectus,</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      amount of common stock to be owned by each affiliated selling security
      holder following sale of the shares, and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      percentage of our common stock to be owned by the affiliated selling
      security holder following completion of such offering, and adjusted to
      give effect to the issuance of shares upon the exercise of the named
      selling security holder&#8217;s options or warrants, but no other person&#8217;s
      options or warrants.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beneficial
ownership is determined in accordance with the rules of the SEC and generally
includes voting or investment power with respect to securities and includes any
securities, which the person has the right to acquire within 60 days through the
conversion or exercise of any security or other right. The information as to the
number of shares of our common stock owned by each affiliated selling security
holder is based upon our books and records and the information provided by our
transfer agent.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We may
amend or supplement this prospectus from time to time to update the disclosure
set forth in the table. Because the selling security holders identified in the
table may sell some or all of the shares owned by them which are included in
this prospectus, and because there are currently no agreements, arrangements or
understandings with respect to the sale of any of the shares, no estimate can be
given as to the number of shares available for resale hereby that will be held
by the affiliated selling security holders upon termination of the offering made
hereby. We have therefore assumed, for the purposes of the following table, that
the affiliated selling security holders will sell all of the shares owned by
them that are being offered hereby, but will not sell any other shares of our
common stock that they presently own.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top width="18%">&nbsp;</TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top width="13%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="18%">&nbsp;</TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top align=middle width="13%" rowSpan=4>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Percentage</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
      be Owned</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Offering</U></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="18%">&nbsp;</TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top align=middle width="12%" rowSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shares
      to be</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Owned
      After</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Offering</U></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="18%" rowSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name
      of Selling</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Security
      Holder</U></FONT></DIV></TD>
    <TD vAlign=top align=middle width="13%" rowSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Number
      of</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Shares
      Owned</U></FONT></DIV></TD>
    <TD vAlign=top align=middle width="12%" rowSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shares
      to</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>be
      Offered</U></FONT></DIV></TD></TR>
  <TR></TR>
  <TR>
    <TD vAlign=top width="18%">&nbsp;</TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top width="12%">&nbsp;</TD>
    <TD vAlign=top width="13%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="18%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Matthew
      P. Dwyer</FONT></DIV></TD>
    <TD vAlign=top align=right width="13%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4,205,500
      (1)</FONT></DIV></TD>
    <TD vAlign=top align=right width="12%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,000,000</FONT></DIV></TD>
    <TD vAlign=top align=right width="12%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3,205,500</FONT></DIV></TD>
    <TD vAlign=top align=right width="13%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19.9%</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Includes
(a) 3,405,500 shares of outstanding common stock, 500,000 of which are
registered to Wall Street-Review Financial Services, Inc. and 2,905,500 of which
are registered to AFAB, Inc. and (b) 800,000 shares issuable upon exercise of
options to be earned under his employment agreement between January 1, 2005 and
December 31, 2005. Mr. Dwyer is the sole officer and director of Wall
Street-Review Financial Services, Inc., and the sole officer, director and
shareholder of AFAB, Inc.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>PLAN
OF DISTRIBUTION</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
information under this heading includes resales of shares covered by this
prospectus by persons who are our "affiliates" as that term in defined under
federal securities laws.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
shares covered by this prospectus may be resold and distributed from time to
time by the selling security holders in one or more transactions, including
ordinary broker&#8217;s transactions, privately-negotiated transactions or through
sales to one or more broker-dealers for resale of these shares as principals, at
market prices existing at the time of sale, at prices related to existing market
prices, through Rule 144 transactions or at negotiated prices. Usual and
customary or specifically negotiated brokerage fees or commissions may be paid
by the selling security holders in connection with sales of securities.
</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
selling security holders may sell shares in one or more of the following
methods, which may include crosses or block transactions:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">through
      the &#8220;pink sheets", on the over-the-counter Bulletin Board, or on such
      exchanges or over-the-counter markets on which our shares may be listed
      from time-to-time, in transactions which may include special offerings,
      exchange distributions and/or secondary distributions, pursuant to and in
      accordance with the rules of such
exchanges;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">in
      transactions other than on such exchanges or in the over-the-counter
      market, or a combination of such transactions, including sales through
      brokers, acting as principal or agent, sales in privately negotiated
      transactions, or dispositions for value, subject to rules relating to
      sales by affiliates; or</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 54pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">through
      the writing of options on our shares, whether or not such options are
      listed on an exchange, or other transactions requiring delivery of our
      shares, or the delivery of our shares to close out a short
      position.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any such
transactions may be effected at market prices prevailing at the time of sale, at
prices related to such prevailing market prices, at negotiated prices or at
fixed prices.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In making
sales, brokers or dealers used by the selling security holders may arrange for
other brokers or dealers to participate. The selling security holders who are
affiliates of Total Identity and others through whom such securities are sold
may be "underwriters" within the meaning of the Securities Act for the
securities offered, and any profits realized or commission received may be
considered underwriting compensation. Information as to whether an
underwriter(s) who may be selected by the selling security holders, or any other
broker-dealer, is acting as principal or agent for the selling security holders,
the compensation to be received by underwriters who may be selected by the
selling security holders, or any broker-dealer, acting as principal or agent for
the selling security holders and the compensation to be received by other
broker-dealers, in the event the compensation of other broker-dealers is in
excess of usual and customary commissions, will, to the extent required, be set
forth in a supplement to this prospectus. Any dealer or broker participating in
any distribution of the shares may be required to deliver a copy of this
prospectus, including the supplement, if any, to any person who purchases any of
the shares from or through a dealer or broker.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
advised the selling security holders that, at the time a resale of the shares is
made by or on behalf of a selling security holder, a copy of this prospectus is
to be delivered.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
also advised the selling security holders that during the time as they may be
engaged in a distribution of the shares included herein they are required to
comply with Regulation M of the Exchange Act. With certain exceptions,
Regulation M precludes any selling security holders, any affiliated purchasers
and any broker-dealer or other person who participates in the distribution from
bidding for or purchasing, or attempting to induce any person to bid for or
purchase any security which is the subject of the distribution until the entire
distribution is complete. Regulation M also prohibits any bids or purchase made
in order to stabilize the price of a security in connection with the
distribution of that security.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales of
securities by the selling security holders and us or even the potential of these
sales may have an adverse effect on the market price for shares of our common
stock.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>DESCRIPTION
OF SECURITIES</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>General</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following description of our capital stock and provisions of our Articles of
Incorporation is a summary thereof and is qualified by reference to our Articles
of Incorporation, copies of which may be obtained upon request. Our authorized
capital consists of 30,000,000 shares of common stock, par value $.01 per share,
of which 15,347,175 shares are issued and outstanding. We are authorized to
issue 2,000,000 shares of preferred stock, none of which are issued or
outstanding.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Common
Stock</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Holders
of shares of common stock are entitled to share, on a ratable basis, such
dividends as may be declared by the board of directors out of funds, legally
available therefor. Upon our liquidation, dissolution or winding up, after
payment to creditors, our assets will be divided pro rata on a per share basis
among the holders of our common stock.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
share of common stock entitles the holders thereof to one vote. Holders of
common stock do not have cumulative voting rights. Our By-Laws require that only
a majority of our issued and outstanding shares need be represented to
constitute a quorum and to transact business at a stockholders' meeting. Our
common stock has no preemptive, subscription or conversion rights and is not
redeemable by us.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Preferred
Stock</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
articles of incorporation authorizes our board of directors to create and issue
series of preferred stock from time to time, with such designations,
preferences, conversion rights, cumulative, relative, participating, optional or
other rights, including voting rights, qualifications, limitations or
restrictions thereof as permitted under Florida law. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
1, 2004, following authorization by our Board of Directors, we amended our
Articles of Incorporation to establish a series consisting of 1,250,000 shares
of Series 1 preferred stock. The Series 1 preferred stock provides for a
liquidation preference of $1.00 per share, prior to any liquidation
distributions to holders of common stock. The Series 1 preferred stock accrues
dividends at the rate of 12%, payable in arrears, in cash or by the issuance of
shares of Series 1 preferred stock, Each share of Series 1 preferred stock is
entitled to one vote per share, and votes along with common stockholders on all
matters submitted to a vote of common stockholders. Each share of Series 1
preferred stock may be redeemed by the Company at a price of $1.00 per share, on
ten days prior written notice. No shares of Series 1 preferred stock have been
issued.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Transfer
Agent and Registrar </U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
transfer agent and registrar for our common stock is North American Transfer
Company is North American Transfer Company, 147 West Merrick Road, Freeport, New
York 11520.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>EXPERTS</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
financial statements of Total Identity Corp. f/k/a TMI Holdings, Inc. as of
December 31, 2003, and for the year ended December 31, 2003, appearing in our
Annual Report on Form 10-KSB for the year ended December 31, 2003 have been
audited by HJ &amp; Associates, LLC, Independent Registered Public Accountants,
as set forth in their report thereon and are incorporated by reference in
reliance upon the authority of such firm as experts in auditing and accounting.
</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
financial statements of TMI Holdings, Inc. for the year ended December 29, 2002,
appearing in our Annual Report on Form 10-KSB for the year ended December 31,
2003 have been audited by </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Berkowitz
Dick Pollack &amp; Brant LLP</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
Independent Registered Public Accountants, as set forth in their report thereon
and are incorporated by reference in reliance upon the authority of such firm as
experts in auditing and accounting.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>INDEMNIFICATION</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Florida Business Corporation Act allows us to indemnify each of our officers and
directors who are made a party to a proceeding if</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 108pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      officer or director conducted himself or herself in good
      faith;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 108pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">his
      or her conduct was in our best interests, or if the conduct was not in an
      official capacity, that the conduct was not opposed to our best interests;
      and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 108pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">in
      the case of a criminal proceeding, he or she had no reasonable cause to
      believe that his or her conduct was
unlawful.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
IX of the Company&#8217;s Restated Articles of Incorporation provide as
follows:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Article
IX</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
fullest extent permitted by law, no director or officer of the Corporation shall
be personally liable to the Corporation or its shareholders for damages for
breach of any duty owed to the Corporation or its shareholders. In addition, the
Corporation shall have the power, in its Bylaws or in any resolution of its
stockholders or directors, to undertake to indemnify the officers and directors
of this Corporation against any contingency or peril as may be determined to be
in the best interests of this Corporation, and in conjunction therewith, to
procure, at this Corporation&#8217;s expense, policies of insurance.&#8221;</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to our directors, officers and controlling persons pursuant to the
foregoing provisions, or otherwise, we have been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act of 1933 and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, we will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%" align=left></DIV></DIV></DIV><BR><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>PART
II</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>INFORMATION
REQUIRED IN REGISTRATION STATEMENT</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
3</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT id=TAB2
style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Incorporation
of Documents by Reference</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
documents listed below are incorporated by reference in the Registration
Statement.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Annual
      Report on Form 10-KSB filed on May 11, 2004 </FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on May 20, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly
      Report on Form 10-QSB filed on June 15, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on August 5, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly
      Report on Form 10-QSB filed on September 24, 2004, as amended by Form
      10-QSB/A filed on September 28, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on December 7, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly
      Report on Form 10-QSB filed on December 17, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on December 29, 2004</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on January 4, 2005</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on January 14, 2005</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-</FONT></DIV></TD>
    <TD vAlign=top width="55%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      8-K Current Report filed on February 4,
2005</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
reports and documents filed by us pursuant to Section 13, 14 or 15(d) of the
Exchange Act, prior to the filing of a post-effective amendment which indicates
that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the respective date of filing of
such documents. Any statement incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this prospectus to the extent that
a statement contained herein or in any other subsequently filed document, which
also is or is deemed to be incorporated by reference herein, modifies or
supersedes such statement. Any statement modified or superseded shall not be
deemed, except as so modified or superseded, to constitute part of this
prospectus.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We hereby
undertake to provide without charge to each person, including any beneficial
owner, to whom a copy of the prospectus has been delivered, on the written
request of any such person, a copy of any or all of the documents referred to
above which have been or may be incorporated by reference in this prospectus,
other than exhibits to such documents. Written requests for such copies should
be directed to Corporate Secretary, Total Identity Corp., </FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1007 N.
Federal Hwy, #A-3, Fort Lauderdale, Florida 33304, (561) 208-8101</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
4</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT id=TAB2
style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Description
of Securities</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
description of the Registrant's securities is incorporated by reference to the
description of our securities set forth under &#8220;Description of Securities&#8221; in the
prospectus forming a part of this registration statement.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
5</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT id=TAB2
style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Interests
of Named Experts and Counsel</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
Applicable.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR
style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">II-1</FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
      6</U></STRONG></FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT></DIV></TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Indemnification
      of Directors and Officers</U></STRONG></FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Florida Business Corporation Act allows us to indemnify each of our officers and
directors who are made a party to a proceeding if</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 108pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      officer or director conducted himself or herself in good
      faith;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 108pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">his
      or her conduct was in our best interests, or if the conduct was not in an
      official capacity, that the conduct was not opposed to our best interests;
      and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 108pt" align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)&nbsp;&nbsp;</FONT></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">in
      the case of a criminal proceeding, he or she had no reasonable cause to
      believe that his or her conduct was
unlawful.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
IX of the Company&#8217;s Restated Articles of Incorporation provide as
follows:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Article
IX</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
fullest extent permitted by law, no director or officer of the Corporation shall
be personally liable to the Corporation or its shareholders for damages for
breach of any duty owed to the Corporation or its shareholders. In addition, the
Corporation shall have the power, in its Bylaws or in any resolution of its
stockholders or directors, to undertake to indemnify the officers and directors
of this Corporation against any contingency or peril as may be determined to be
in the best interests of this Corporation, and in conjunction therewith, to
procure, at this Corporation&#8217;s expense, policies of insurance.&#8221;</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to our directors, officers and controlling persons pursuant to the
foregoing provisions, or otherwise, we have been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act of 1933 and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, we will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
7</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT id=TAB2
style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Exemption
From Registration Claimed</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
8</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT id=TAB2
style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Exhibits</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.1</FONT></DIV></TD>
    <TD vAlign=top width="51%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Opinion
      of Schneider Weinberger &amp; Beilly LLP</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</FONT></DIV></TD>
    <TD vAlign=top width="51%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
      Identity Corp. 2004 Equity Compensation Plan</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.1</FONT></DIV></TD>
    <TD vAlign=top width="51%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
      of Schneider Weinberger LLP (included in Exhibit 5.1)</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2(i)</FONT></DIV></TD>
    <TD vAlign=top width="51%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
      of HJ &amp; Associates, LLC</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2(ii)</FONT></DIV></TD>
    <TD vAlign=top width="51%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
      of </FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Berkowitz
      Dick Pollack &amp; Brant LLP</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR
style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">II-2</FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Item
9</U></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>.</STRONG></FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT id=TAB2
style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>Undertakings</U></STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
undersigned registrant hereby undertakes:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      file, during any period in which offers or sales are being made, a
      post-effective amendment to this registration
statement:</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      include any prospectus required by section 10(a)(3) of the Securities Act
      of 1933;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      reflect in the prospectus any facts or events arising after the effective
      date of the registration statement (or the most recent post-effective
      amendment thereof) which, individually or in the aggregate, represent a
      fundamental change in the information set forth in the registration
      statement. Notwithstanding the foregoing, any increase or decrease in
      volume of securities offered (if the total dollar value of securities
      offered would not exceed that which was registered) and any deviation from
      the low or high end of the estimated maximum offering range may be
      reflected in the form of prospectus filed with the Commission pursuant to
      Rule 424(b) if, in the aggregate, the changes in volume and price
      represent no more than a 20% change in the maximum aggregate offering
      price set forth in the "Calculation of Registration Fee" table in the
      effective registration statement;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 72pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      include any material information with respect to the plan of distribution
      not previously disclosed in the registration statement or any material
      change to such information in the registration
  statement;</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provided,
however, that paragraphs (1)(i) and (1)(ii) do not apply if the registration
statement is on Form S-3 or Form S-8 and the information required to be included
in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">That,
      for the purpose of determining any liability under the Securities Act of
      1933, each such post-effective amendment shall be deemed to be a new
      registration statement relating to the securities offered therein, and the
      offering of such securities at that time shall be deemed to be the initial
      bona fide offering thereof.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1.25" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      remove from registration by means of a post-effective amendment any of the
      securities being registered which remain unsold at the termination of the
      offering.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#8217;s
annual report pursuant to section 13(a) or section 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers, and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 against such liabilities (other than the payment by the registrant in the
successful defense of an action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel, the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act of 1933 and will be
governed by the final adjudication of such issue.</FONT></DIV>
<DIV></DIV><BR>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>&nbsp;</DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman">II-3</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%" align=left></DIV></DIV></DIV><BR><BR>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>SIGNATURES</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of Ft.
Lauderdale, State of Florida, on February 11, 2005.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TOTAL
IDENTITY CORP.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV style="MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=left>
<TABLE cellSpacing=0 cellPadding=0 width="16%">
  <TR>
    <TD vAlign=center align=left width="23%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TOTAL
      IDENTITY CORP.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="23%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
      Matthew P. Dwyer</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="23%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Matthew
      P. Dwyer, CEO and</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Principal
      Executive Officer</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the dates
indicated.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center>
<TABLE cellSpacing=0 cellPadding=0 width="58%">
  <TR>
    <TD vAlign=top align=middle width="20%">&nbsp;</TD>
    <TD vAlign=top align=middle width="28%">&nbsp;</TD>
    <TD vAlign=top align=middle width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=middle width="20%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Signature</U></FONT></DIV></TD>
    <TD vAlign=top align=middle width="28%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Title</U></FONT></DIV></TD>
    <TD vAlign=top align=middle width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Date</U></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="20%">&nbsp;</TD>
    <TD vAlign=top align=left width="28%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="20%" rowSpan=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>/s/
      Matthew P. Dwyer</U></FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Matthew
      P. Dwyer</FONT></DIV></TD>
    <TD vAlign=top align=left width="28%" rowSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President,
      Chief Executive Officer, </FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Principal
      Executive Officer, Principal </FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
      and Accounting Officer</FONT></DIV></TD>
    <TD vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">February</FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      11, 2005</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="20%">&nbsp;</TD></TR>
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    <TD vAlign=top align=left width="20%">&nbsp;</TD>
    <TD vAlign=top align=left width="28%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=left width="20%">&nbsp;</TD>
    <TD vAlign=top align=left width="28%">&nbsp;</TD>
    <TD vAlign=top align=left width="10%">&nbsp;</TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
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align=left><BR></DIV>
<DIV></DIV></BODY></HTML>
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Total Identity Corp S8 021105
AS FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION ON FEBRUARY 11, 2005
Registration
No. 333-________
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
S-8
REGISTRATION
STATEMENT UNDER THE
SECURITIES
ACT OF 1933
TOTAL
IDENTITY CORP.
(Exact
name of registration as specified in its charter)
Florida
65-0309540
(State
      or Other Jurisdiction
(IRS
      Employer Identification No.)
of
      Incorporation)
1007
      N. Federal Highway, #A-3, Fort Lauderdale, FL
33304
(Address
      of Principal Executive Offices)
(Zip
      Code)
Registrant's telephone
      number, including area code
561-208-8101
Copies to:
Mathew
      P. Dwyer
Steven
      I. Weinberger, Esq.
Chief
      Executive Officer
Schneider
      Weinberger & Beilly LLP
Total
      Identity Corp.
2200
      Corporate Blvd., N.W., Suite 210
1007
      N. Federal Hwy, #A-3
Boca
      Raton, FL 33431
Fort
      Lauderdale, Florida 33304
(561)
      362-9595
(561)
      208-8101
(name, address and telephone number
of agent for service)
CALCULATION
OF REGISTRATION FEE
Proposed
maximum
offering
price
      per
share
Proposed
maximum
aggregate
offering
price
Amount
      of
registration
fee
Title
      of securities
to
      be registered
Amount
      to be registered
Common
      Stock, $.01
par
      value per share (1)
2,500,000
$.045
$112,500
$13.24
(1)
This
      calculation is made solely for the purpose of determining the registration
      fee pursuant to the provisions of Rule 457(h) under the Securities Act,
      and is calculated upon the average of the bid and asked price of the
      securities on the Over-the-Counter-Bulletin Board on February7,
      2005.
PART
I
INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS
This
registration statement relates to two separate prospectuses.
Items 1
and 2 of this Part I, and the documents incorporated herein by reference
pursuant to Item 3 of Part II of this Form S-8, constitute the first prospectus
relating to issuances to our employees, consultants and others of up to
2,500,000 shares of common stock pursuant to our 2004 Equity Compensation Plan
(the "Plan"). Pursuant to the requirements of Form S-8 and Rule 428, we will
deliver or cause to be delivered to Plan participants any required information
as specified by Rule 428(b)(1). The second prospectus, referred to as the
reoffer prospectus, relates to the reoffer or resale of any shares that are
deemed to be control securities or restricted securities under the Securities
Act of 1933.
PROSPECTUS
Item
1. Plan Information
On June
15, 2004, our Board of Directors initially authorized and approved the Total
Identity Corp. 2004 Equity Compensation Plan (the "Plan"). We have reserved a
total of 2,500,000 shares of our common stock for issuance upon the exercise of
options and the grant of other awards under the Plan. Awards under the Plan must
be issued only for bona fide services and may not be issued under the Plan for
services in connection with the offer and sale of securities in a capital
raising or capital promoting transaction.
Shares
may be awarded under the Plan pursuant to individually negotiated compensation
contracts as determined and/or approved by the Board of Directors or
compensation committee. The eligible participants include directors, officers,
employees and non-employee consultants and advisors. There is no limit as to the
number of shares that may be awarded under the Plan to a single participant. We
anticipate that a substantial portion of the shares to be issued under the Plan
will be issued as compensation to our employees, directors, technical
consultants and advisors who provide services to us.
The Plan
itself does not require restrictions on the transferability of shares issued
thereunder. However, such shares may be restricted as a condition to their
issuance where the Board of Directors deems such restrictions appropriate.
Shares issued under awards made to our officers, directors and affiliates become
control shares, the resale of which may be covered by this prospectus. The Plan
is not subject to the Employee Retirement Income Securities Act of 1974
("ERISA"). Restricted shares awarded under the Plan are intended to be fully
taxable to the recipient as earned income.
Item
2. Registrant Information and Employee Plan Annual
Information
We will
provide to Plan participants, without charge, upon written or oral request, the
documents incorporated by reference in Item 3 of Part II of this Registration
Statement. These documents are incorporated by reference in the Section 10(a)
prospectus. We will also provide without charge, upon written or oral request,
all other documents required to be delivered to recipients pursuant to Rule
428(b). Requests should be made to us at our principal offices located at 1007
N. Federal Hwy, #A-3, Fort Lauderdale, Florida 33304, (561)
208-8101.
THESE
SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION, NOR HAS THE COMMISSION PASSED ON THE ACCURACY OR ADEQUACY OF THE
PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
No person
has been authorized by us to give any information or to make any representation
other than as contained in this prospectus and, if given or made, such
information or representation must not be relied upon as having been authorized
by us. Neither the delivery of this prospectus nor any distribution of the
shares of common stock issuable under the terms of the Plans shall, under any
circumstances, create any implication that there has been no change in our
affairs since the date hereof.
THIS
PROSPECTUS DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES IN ANY STATE TO ANY
PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER IN SUCH
STATE.
The date
of this prospectus is February 11, 2005
REOFFER
PROSPECTUS
TOTAL
IDENTITY CORP.
2,500,000
Shares of Common Stock
($.01
par value)
This
prospectus forms a part of a registration statement, which registers an
aggregate of 2,500,000 shares of common stock issued or issuable from
time-to-time under the Total Identity Corp. 2004 Equity Compensation Plan (the
"Plan").
Total
Identity Corp. is referred to in this prospectus as "Total Identity," the
"Company," "we," "us" or "our." The 2,500,000 shares covered by this prospectus
are referred to as the "shares." Persons who are issued shares are sometimes
referred to as the "selling security holders."
This
prospectus also covers the resale of shares by persons who are our "affiliates"
within the meaning of federal securities laws. Affiliated selling security
holders may sell all or a portion of the shares from time to time in the
over-the-counter market, in negotiated transactions, directly or through brokers
or otherwise, and at market prices prevailing at the time of such sales or at
negotiated prices, but which may not exceed 1% of our outstanding common stock
in any three month period. Affiliated selling security holders using this
prospectus for resale purposes may be identified in a prospectus supplement to
be filed from time-to-time.
We will
not receive any proceeds from sales of shares by selling security
holders.
These
securities have not been approved or disapproved by the Securities and Exchange
Commission nor has the Commission passed on the accuracy or adequacy of this
prospectus. Any representation to the contrary is a criminal
offense.
This
prospectus does not constitute an offer to sell securities in any state to any
person to whom it is unlawful to make such offer in such state.
The date
of this prospectus is February 11, 2005.
AVAILABLE
INFORMATION
We are
subject to the informational requirements of the Securities Exchange Act of
1934, as amended, and, in accordance therewith, we file reports, proxy
statements and other information with the Securities and Exchange Commission.
Reports, proxy statements and other information filed with the Commission can be
inspected and copied at the public reference facilities of the Commission at 450
Fifth Street, N.W., Washington, D.C. 20549. Copies of this material can also be
obtained at prescribed rates from the Public Reference Section of the Commission
at its principal office at 450 Fifth Street, N.W., Washington, D.C. 20549. The
Commission also maintains a website on the Internet that contains reports, proxy
and information statements and other information regarding registrants that file
electronically with the Commission at http://www.sec.gov.
INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE
The
following documents filed by us with the Commission are incorporated herein by
reference and made a part hereof:
-
Annual
      Report on Form 10-KSB filed on May 11, 2004
-
Form
      8-K Current Report filed on May 20, 2004
-
Quarterly
      Report on Form 10-QSB filed on June 15, 2004
-
Form
      8-K Current Report filed on August 5, 2004
-
Quarterly
      Report on Form 10-QSB filed on September 24, 2004, as amended by Form
      10-QSB/A filed on September 28, 2004
-
Form
      8-K Current Report filed on December 7, 2004
-
Quarterly
      Report on Form 10-QSB filed on December 17, 2004
-
Form
      8-K Current Report filed on December 29, 2004
-
Form
      8-K Current Report filed on January 4, 2005
-
Form
      8-K Current Report filed on January 14, 2005
-
Form
      8-K Current Report filed on February 4,
2005
All
reports and documents filed by us pursuant to Section 13, 14 or 15(d) of the
Exchange Act, prior to the filing of a post-effective amendment which indicates
that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the respective date of filing of
such documents. Any statement incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this prospectus to the extent that
a statement contained herein or in any other subsequently filed document, which
also is or is deemed to be incorporated by reference herein, modifies or
supersedes such statement. Any statement modified or superseded shall not be
deemed, except as so modified or superseded, to constitute part of this
prospectus.
We hereby
undertake to provide without charge to each person, including any beneficial
owner, to whom a copy of the prospectus has been delivered, on the written
request of any such person, a copy of any or all of the documents referred to
above which have been or may be incorporated by reference in this prospectus,
other than exhibits to such documents. Written requests for such copies should
be directed to Corporate Secretary, Total Identity Corp.,
1007 N.
Federal Hwy, #A-3, Fort Lauderdale, Florida 33304
.
THE
COMPANY
We have
in the past and intend to continue to acquire assets and/or businesses that we
believe are undervalued, and to operate those assets and businesses until such
time as management determines that disposition is in our best interests. Until
recently, our only business operations consisted of the manufacture and sale of
custom-made signs through Total Identity Systems, Inc. ("TISC"). For the reasons
described below, we have treated the operations of TISC as discontinued
operations as of November 30, 2004, and, accordingly, our financial statements
for the quarter ended September 30, 2004 reflect the impact of discontinuing the
operations of TISC.
Recent
Developments
Unregistered
Sales of Equity Securities
On
February 3, 2005, we sold 500,000 shares of our common stock to Wall
Street-Review Financial Services, Inc. for an aggregate purchase price of
$25,000 or $.05 per share. The sole officer and director of Wall Street-Review
Financial Services, Inc. is also our sole officer and director. The $.05 per
share purchase price was the closing bid price for our common stock on the date
of purchase. The proceeds from the sale are being used for general working
capital purposes.
Acquisition
of Assets; Share Dividend; Rescission
On
December 15, 2004, our wholly owned subsidiary Total Digital Displays, Inc.
n/k/a Total Digital Communications, Inc. ("Total Digital") acquired certain
assets from Leonard Lightman, including the seller's rights under a purported
license agreement with Major League Baseball. The purchase price for the assets
was paid by the issuance of 10,000,000 shares of Total Digital's common stock to
the seller. The 10,000,000 shares represented approximately 93% of Total
Digital's outstanding common stock at the time of issuance.
On
December 29, 2004, we distributed to our shareholders of record on December 15,
as a dividend, an aggregate of 804,929 shares, constituting all of the common
stock of Total Digital owned by us. One share of Total Digital was distributed
for each 20 shares of our common stock held on the record date. The dividend was
paid without registration under the Securities Act of 1933, as amended, because
no sale was involved and our counsel delivered its opinion that the transaction
complied with the requirements of SEC Staff Bulletin 4.
On
January 11, 2005, we determined that the seller of the assets had fraudulently
misrepresented to us that the seller owned a license from Major League Baseball
when, in fact, the seller did not own any such license. As a result, on January
11, 2005, we notified the seller of claims we have against it, and demanded
rescission of the asset purchase agreement, including its return of the
10,000,000 shares of Total Digital. To date, the seller has not complied with
our demands.
In light
of the foregoing, the opinion of counsel that caused the shares of Total Digital
to be issued without legend has been withdrawn, and we are treating the shares
of Total Digital that were distributed to our shareholders as restricted
securities. At this time, Total Digital has no assets and there is no market for
the shares of Total Digital. We are currently reviewing our legal rights with
counsel and are evaluating whether to commence suit for rescission and damages
against the seller of the assets.
Threatened
Lawsuit
We have
been advised that a lawsuit has been commenced in the Supreme Court of the State
of New York, County of Monroe, under the caption
Stephen
E. Webster v. Richard Dwyer, Matthew P. Dwyer, Phillip Mistretta, Total Digital
Displays, Inc., Leslie W. Kernan, Jr., Lacy Katzen LLP, et al.
While we
understand that the plaintiff also intends to assert claims against Total
Identity Corp. and others, neither the Total Identity Corp., Richard Dwyer,
Matthew P. Dwyer nor Total Digital Displays, Inc. has been served in connection
with this purported lawsuit. The plaintiff, Stephen E. Webster, previously
purchased a $125,000 debenture from Total Identity Corp. We understand the
plaintiff is seeking payment of the convertible debenture by alleging that he
was fraudulently induced to purchase the debenture. We believe that (a) the
plaintiff may have a relationship with Argilus, Inc., the respondent in a
pending arbitration proceeding commenced by us, and (b) the plaintiff, due to
its relationship with Argilus, may have been induced by Argilus to commence the
suit as a strategic tactic in connection with the pending arbitration between
the Company and Argilus. Until such time as we or our affiliates are served in
this proceeding, we are unable to provide further information.
Discontinued
Operations
Lawsuit
Relating to Total Identity Systems Corp.
We are a
party to an on-going legal dispute with Robert David, the former owner of TISC.
A primary aspect of the disagreement is our contention that information provided
to us by Mr. David concerning TISC's banking relationship with Mercantile and
Trader's Trust Company, a bank that has made loans to TISC (the "Bank"), was
materially inaccurate. The Bank had previously noticed a default against TISC
under the promissory note and other loan agreements between TISC and the Bank
(the "Loan Documents"). However, we have been paying down TISC's debt, to the
Bank and had been engaged in on-going discussions with the Bank designed to pay
TISC's debts to the Bank on a mutually satisfactory basis.
On or
about November 24, 2004, we learned that the Bank had exercised certain rights
granted under the Loan Documents and had "swept" TISC's accounts aggregating
approximately $200,000 maintained at the Bank, and applied the proceeds to the
outstanding indebtedness of TISC to the Bank in the current amount of
approximately $800,000. In addition, (a) on November 27, 2004, we learned that
the Bank had notified the United States Post Office that it was exercising its
rights under the Loan Documents to take control over all mail directed to us and
(c) on December 6, 2004, we learned that the Bank had changed the locks at
TISC's Rochester, New York facility, and was seeking to take control over TISC's
assets in order to satisfy TISC's indebtedness to the Bank
In
exercising these rights, the Bank has prevented TISC from conducting and funding
its day-to-day operations, and, accordingly, TISC's operations have ceased. In
light of the actions taken by the Bank, including our loss of control over
TISC's records and operations and the prospect that our registered public
accounting firm will hereafter be unable to audit TISC's books and records, we
have treated the operations of TISC as discontinued operations as of November
30, 2004, and, accordingly, our financial statements for the quarter ended
September 30, 2004 reflect the impact of discontinuing the operations of TISC.
As noted under FASB 5 paragraph 11 the Company is presenting the discontinued
operations of TISC to keep the financial statements from being
misleading.
On
December 13, 2004, we notified the escrow agent holding the shares of TISC we
acquired from Mr. David and TISC, that, without waiving any rights we have
against Mr. David, the escrow agent may release the shares to Mr. David. We have
received notice that Mr. David has disclaimed ownership of the shares, rejected
delivery of the shares from the escrow agent and sought to amend his demand for
arbitration to eliminate his request for return of the collateral to him. It
remains uncertain what effect our release of the shares from escrow will have on
ownership of the TISC shares or on the outcome of the pending legal disputes
between TIC and Robert David.
In light
of the discontinued operations of TISC, we no longer engage in any revenue
producing activities. We are currently seeking other possible acquisition
candidates in the manufacturing sector to help increase shareholder value. Until
we are able to identify and consummate additional business combinations, we will
require additional funding in order to pay our expenses, including the costs of
continuing pending litigation and complying with disclosure and other
obligations under Federal securities laws. At this time, we have not yet
identified any additional acquisition candidates and have no commitments from
any party to provide us with working capital.
Settlement
of Dispute with Former Director
On May
13, 2004, we and Scott Siegel, one of our director, entered into an agreement
resolving certain disputes that had arisen relating to the ownership of
1,050,000 shares of our common stock and 250,000 shares of our Series A
preferred stock that were the subject of a stock purchase agreement dated
February 21, 2003. Under the terms of the agreement:
·
Mr.
      Siegel retained 250,000 shares of common stock (the "Retained
      Shares");
·
The
      Retained Shares will be held by our designee and delivered to Mr. Siegel
      at the rate of 50,000 shares per month commencing on the earlier of
      November 13, 2004 or on the effective date of a registration statement
      filed by us to register the resale of shares of its common stock (not
      including the Retained Shares) that may be issued in future financing
      transaction;
·
The
      Retained Shares will be the subject of a voting proxy in favor of our
      designee for a period terminating in 18 months, or earlier to the extent
      of a bona fide disposition by Mr. Siegel of the Retained Shares subject to
      the proxy; we have not yet released any of the Retained Shares and are
      awaiting receipt of the proxy referred to in the preceding paragraph prior
      to doing so;
·
800,000
      shares of common stock issued to Mr. Siegel under the February 21, 2003
      stock purchase agreement were surrendered to us and have been
      canceled;
·
We
      agreed to pay Mr. Siegel the sum of $35,265, plus $7,000 less an amount
      equal to our legal fees in settlement of this
matter;
·
The
      amount payable to Mr. Siegel will be paid (a) one-third for each million
      in financing raised by us after June 27, 2004 or (b) pro-rata to the
      extent that other of our officers or directors receives repayment of
      indebtedness from third-party financing obtained us subsequent to June 27,
      2004;
·
The
      Series A preferred stock has been surrendered to us and canceled;
      and
·
Mr.
      Siegel resigned as a director effective May 13,
2004.
Corporate
Matters
On
December 10, 2004 Jeffrey Hoffman resigned as the Company's Chief Financial
Officer. Matthew P. Dwyer currently serves as our sole officer and
director.
On
November 24, 2004 Neil Dolgin and Dr. Martin Peskin each tendered his
resignation from the Company's Board of Directors
On June
30, 2004, following authorization by our Board of Directors, we amended our
Articles of Incorporation to eliminate previously authorized Series A and Series
B preferred stock. No shares of Series A or Series B preferred stock were
outstanding at the time of the elimination.
On July
1, 2004, following authorization by our Board of Directors, we amended our
Articles of Incorporation to establish a series consisting of 1,250,000 shares
of Series 1 preferred stock. The Series 1 preferred stock provides for a
liquidation preference of $1.00 per share, prior to any liquidation
distributions to holders of common stock. The Series 1 preferred stock accrues
dividends at the rate of 12%, payable in arrears, in cash or by the issuance of
shares of Series 1 preferred stock, Each share of Series 1 preferred stock is
entitled to one vote per share, and votes along with common stockholders on all
matters submitted to a vote of common stockholders. Each share of Series 1
preferred stock may be redeemed by the Company at a price of $1.00 per share, on
ten days prior written notice. No shares of Series 1 preferred stock have been
issued.
RISK
FACTORS AFFECTING OUR FUTURE RESULTS OF OPERATIONS
Our
future results of operations involve a number of risks and uncertainties. The
following paragraphs discuss a number of risks that could impact our financial
condition and results of operations.
We
have no current business operations and are dependent upon identifying an
operating business to acquire in order to generate revenues and pay our
operating expenses.
As a
result of actions taken by an institutional lender, the operations of Total
Identity Systems Corp. have ceased and we currently engage in no
revenue-producing activities. At this time, our operating expenses are being
paid through loans from our affiliates. There is no assurance that our
affiliates will be able to continue to fund our operating expenses. Accordingly,
we are dependent on identifying and acquiring an operating business in order to
generate revenues to fund operating expenses. If we are unable to acquire an
operating business or otherwise fund our operating expenses, we may be required
to cease operations.
We
are a party to an on-going lawsuit, the results of which are uncertain, and an
adverse outcome to which could require us to pay a substantial
judgment.
We are a
party to an on-going legal dispute with Robert David, the former owner of TISC.
A primary aspect of the disagreement is our contention that information provided
to us by Mr. David concerning TISC's banking relationship with Mercantile and
Trader's Trust Company, a bank that has made loans to TISC (the "Bank"), was
materially inaccurate.
As
described elsewhere in this prospectus, the Bank has exercised certain rights
and taken actions that have prevented TISC from conducting and funding its
day-to-day operations, and, accordingly, TISC's operations have ceased. On
December 13, 2004, we notified the escrow agent holding the shares of TISC we
acquired from Mr. David and TISC, that, without waiving any rights we have
against Mr. David, the escrow agent may release the shares to Mr. David. We have
received verbal confirmation that Mr. David has disclaimed ownership of the
shares, rejected delivery of the shares from the escrow agent and sought to
amend his demand for arbitration to eliminate his request for return of the
collateral to him.
It
remains uncertain what effect our release of the shares from escrow will have on
ownership of the TISC shares or on the outcome of the pending legal disputes
between TIC and Robert David. In the event we are unsuccessful in our claims
against Mr. David, we could become subject to the payment of substantial
damages, the amount of which could force us to seek protection under bankruptcy
laws.
Our
continued issuance of shares of common stock in payment of management
compensation and consulting fees is dilutive to our existing
shareholders.
Due to
our lack of revenues and income, we have historically paid compensation to our
Chief Executive Officers and certain other officers and consultants through the
issuance of options shares of our common stock, including shares issued and
issuable upon the exercise of options. In some cases, the shares have been
issued, including upon the exercise of options, at less than fair market value.
The issuance of these shares is dilutive to the equity ownership of our shares
by other stockholders and the issuance of shares at less than fair market value
is dilutive to the book value of our common stock. Our lack of revenues may
require that we continue to dilute shareholders through the issuance of our
shares to management and consultants.
There
is uncertainty concerning the status of shares of our subsidiary that were
distributed to our shareholders.
We
previously distributed shares of our former subsidiary, Total Digital Displays,
Inc., to our shareholders. Subsequent to the distribution, we determined that
the assets that were acquired by our subsidiary prior to the distribution did
not exist and that we and Total Digital Displays had been fraudulently induced
to purchase the assets.
As a
result, we have notified the seller of claims we have against it, and demanded
rescission of the asset purchase agreement, including its return of the
10,000,000 shares of Total Digital issued to the seller under the asset purchase
agreement. To date, the seller has not complied with our demands and has denied
wrongdoing.
In light
of the foregoing, the opinion of counsel that caused the shares of Total Digital
to be issued without legend has been withdrawn, and we are treating the shares
of Total Digital that were distributed to our shareholders as restricted
securities. At this time, Total Digital has no assets and there is no market for
the shares of Total Digital. We are currently reviewing our legal rights with
counsel and are evaluating whether to commence suit for rescission and damages
against the seller of the assets.
At this
time, we cannot determine whether we will reacquire Total Digital as a
subsidiary, the legal status of the shares of Total Digital that were
distributed to our shareholders, or otherwise predict the impact that the
foregoing facts will have on our operations.
Our
financial condition may require us to withdraw as a reporting company under the
Securities Exchange Act of 1934, which could make it more difficult to obtain
current information about us, and adversely affect the market price for our
shares.
Our
shares are currently listed on the OTC Bulletin Board. As a condition of
continued listing, we are required to file annual, quarterly and current reports
under the Securities Exchange Act of 1934. These reports provide material
information about us and enable investors to make informed investment decisions
about us. In the event we are unable to generate revenues to pay our operating
expenses, we will likely be required to take action to reduce our expenses.
Those actions may include withdrawing as a reporting company, thereby
eliminating certain on-going professional fees and other expenses. In the event
that we withdraw as a reporting company:
·
Our
      shares will be delisted from the OTC Bulletin Board, although trading in
      our shares may continue on the Pink Sheets;
·
There
      will be limited information publicly available about us;
    and
Investors
may have difficulty in buying and selling our shares.
There
is substantial doubt as to our ability to continue as a going
concern.
Our
ability to continue as a going concern is dependent on our ability to raise
funds to implement our development of a business plan. Our poor financial
condition could inhibit our ability to achieve a business plan, due to current
operations that are reflecting substantial losses. The future prospect of
profitability is severely in doubt. Because of these difficulties, our
independent auditors have expressed substantial doubt as to our ability to
continue as a going concern.
Lack
of funding will adversely affect our ability to generate
revenues.
Our goals
are all contingent upon raising debt or equity funding. Currently there are
limited sources for this necessary funding. There are significant risks,
difficulties, delays and unforeseen expenses associated with companies with
limited or no operating history. Constraints we face due to a lack of funding
include:
-
Inability
      to generate necessary revenue to operate for the next 12 months or
      thereafter;
-
Operating
      costs that may exceed our current
estimates;
-
Unanticipated
      development expenses; and
-
Our
      ability to generate sufficient revenues to offset the substantial costs of
      operating our business.
Start-up
expenses and future losses will adversely affect our
operations.
Because
of significant up-front expenses required to enter into new businesses, we
anticipate that we may incur losses until revenues are sufficient to cover our
operating costs. Future losses are likely before our operations become
profitable. As a result of our lack of operating history, you will have no basis
upon which to accurately forecast our:
-
Total
      assets, liabilities, and equity;
-
Total
      revenues;
-
Gross
      and operating margins; and
-
Labor
      costs.
Accordingly,
any subsequent business plans may not either materialize or prove successful,
and we may never be profitable.
Our
management may be unable to effectively integrate future acquisitions and to
manage our growth, and we may be unable to fully realize any anticipated
benefits of any acquisition.
Our
business strategy includes growth through acquisition and internal development.
We are subject to various risks associated with our growth strategy, including
the risk that we will be unable to identify and recruit suitable acquisition
candidates in the future or to integrate and manage the acquired companies.
Acquired companies' histories, geographical locations, business models and
business cultures can be different from ours in many respects. If we should
consummate one or more acquisitions, our directors and senior management will
face a significant challenge in their efforts to integrate our business and the
business of the acquired companies or assets, and to effectively manage our
continued growth. There can be no assurance that our efforts to integrate the
operations of any acquired assets or companies acquired in the future will be
successful, that we can manage our growth or that the anticipated benefits of
these proposed acquisitions will be fully realized. The dedication of management
resources to these efforts may detract attention from our day-to-day business.
There can be no assurance that there will not be substantial costs associated
with these activities or of the success of our integration efforts, either of
which could have a material adverse effect on our operating
results.
Our
strategy of seeking joint ventures or strategic alliances may be
unsuccessful.
We may
also choose to expand our operations by entering into joint ventures or other
strategic alliances with other parties. Any such transaction would be
accompanied by the risks commonly encountered in such transactions. These
include, among others, the difficulty of assimilating the operations and
personnel and other various factors. There can be no assurance should we enter
into any strategic alliance with a third party that we will be successful in
overcoming these risks or any other problems encountered in connection with
joint ventures or other strategic alliances.
We
depend on the continued services of our executive officers and on our ability to
attract and maintain other qualified employees.
Our
future success depends on the continued services of our executive officers. The
loss of their services would be detrimental to us and could have a material
adverse effect on our business, financial condition and results of operations.
We do not currently maintain key-man insurance on his life. Our future success
is also dependent on our ability to identify, hire, train and retain other
qualified managerial and other employees. Competition for these individuals is
intense and increasing. We may not be able to attract, assimilate, or retain
qualified technical and managerial personnel and our failure to do so could have
a material adverse effect on our business, financial condition and results of
operations.
Our
common stock is thinly traded and an active and visible trading market for our
common stock may not develop.
Our
common stock is currently traded on a limited basis on the Over-the-Counter
Bulletin Board under the symbol "TIDC." The quotation of our common stock on the
OTCBB does not assure that a meaningful, consistent and liquid trading market
currently exists. We cannot predict whether a more active market for our common
stock will develop in the future. In the absence of an active trading
market:
-
investors
      may have difficulty buying and selling or obtaining market
      quotations;
-
market
      visibility for our common stock may be limited;
and
-
a
      lack of visibility for our common stock may have a depressive effect on
      the market price for our common stock.
The
sale of shares eligible for future sale could have a depressive effect on the
market price for our common stock.
As of the
date of this prospectus, there are 15,347,175 shares of common stock issued and
outstanding.
Of the
currently issued and outstanding shares, 8,332,550 restricted shares of common
stock have been held for in excess of one year and are currently available for
public resale pursuant to Rule 144 promulgated under the Securities Act ("Rule
144"). Unless registered on a form other than Form S-8, the resale of our shares
of Common Stock owned by officers, directors and affiliates is subject to the
volume limitations of Rule 144. In general, Rule 144 permits our shareholders
who have beneficially owned restricted shares of common stock for at least one
year to sell without registration, within a three-month period, a number of
shares not exceeding one percent of the then outstanding shares of common stock.
Furthermore, if such shares are held for at least two years by a person not
affiliated with us (in general, a person who is not one of our executive
officers, directors or principal shareholders during the three-month period
prior to resale), such restricted shares can be sold without any volume
limitation.
Sales of
our common stock under Rule 144 or pursuant to such registration statement may
have a depressive effect on the market price for our common stock.
It
is not possible to foresee all risks that may affect us. Moreover, we cannot
predict whether we will successfully effectuate our current business plan. Each
prospective purchaser is encouraged to carefully analyze the risks and merits of
an investment in the shares and should take into consideration when making such
analysis, among others, the Risk Factors discussed
above.
2004
EQUITY COMPENSATION PLAN
Introduction
The
following descriptions summarize certain provisions of the Total Identity Corp.
2004 Equity Compensation Plan. This summary is not complete and is qualified by
reference to the full text of the Plan. A copy of the Plan has been filed as an
exhibit to the registration statement of which this prospectus is a part. Each
person receiving an option or stock award under the Plan should read the Plan in
its entirety.
On
June 15,
2004,
our
Board of Directors authorized the Plan covering 1,250,000 shares of common
stock. On February 3, 2005, the Board increased the number of shares available
for issuance under the Plan to 2,500,000 shares. As of the date of this
prospectus,
awards
covering 950,000
shares
have been made under the Plan.
The
purpose of the Plan is to encourage stock ownership by our officers, directors,
key employees and consultants, and to give such persons a greater personal
interest in the success of our business and an added incentive to continue to
advance and contribute to us. Our Board of Directors, or a committee of the
Board, will administer the Plan including, without limitation, the selection of
the persons who will be awarded stock grants and granted options, the type of
options to be granted, the number of shares subject to each Option and the
exercise price.
Plan
options may either be options qualifying as incentive stock options under
Section 422 of the Internal Revenue Code of 1986, as amended, or non-qualified
options. In addition, the Plan allows for the inclusion of a reload option
provision, which permits an eligible person to pay the exercise price of the
option with shares of common stock owned by the eligible person and receive a
new option to purchase shares of common stock equal in number to the tendered
shares.
Furthermore,
compensatory stock amounts may also be issued. Additionally, deferred stock
grants and stock appreciation rights may also be granted under the Plan. Any
incentive option granted under
the Plan
must provide for an exercise price of not less than 60% of the fair market value
of the underlying shares on the date of grant, but the exercise price of any
incentive option granted to an eligible employee owning more than 10% of our
outstanding common stock must not be less than 110% of fair market value on the
date of the grant. The term of each Plan option and the manner in which it may
be exercised is determined by the Board of Directors or the committee, provided
that no option may be exercisable more than ten years after the date of its
grant and, in the case of an incentive option granted to an eligible employee
owning more than 10% of the common stock, no more than five years after the date
of the grant.
In the
event the Plan is not approved by our shareholders prior to June 15, 2005,
the Plan
will not be invalidated, however, (i) in the absence of shareholder approval,
incentive stock options may not be awarded under the Plan and (ii) any incentive
stock options theretofore awarded under the Plan shall be converted into
non-qualified options upon terms and conditions determined by the Board or
committee to reflect, as nearly as is reasonably practicable in its sole
determination, the terms and conditions of the incentive stock options being so
converted.
Eligibility
Our
officers, directors, key employees and consultants are eligible to receive
awards under the Plan. Only our employees are eligible to receive incentive
options.
Administration
The Plan
will be administered by our Board of Directors or a committee established by the
Board such as a compensation committee (the "Committee"). The Board of Directors
or the Committee determines from time to time those of our officers, directors,
key employees and consultants to whom stock grants or Plan options are to be
granted, the terms and provisions of the respective option agreements, the time
or times at which such options shall be granted, the type of options to be
granted, the dates such Plan options become exercisable, the number of shares
subject to each option, the purchase price of such shares and the form of
payment of such purchase price. All other questions relating to the
administration of the Plan, and the interpretation of the provisions thereof and
of the related option agreements, are resolved by the Board or Committee.
Shares
Subject to Awards
We have
currently reserved 2,500,000 of our authorized but unissued shares of common
stock for issuance under the Plan, and a maximum of 2,500,000 shares may be
issued, unless the Plan is subsequently amended (subject to adjustment in the
event of certain changes in our capitalization), without further action by our
Board of Directors and shareholders, as required. Subject to the limitation on
the aggregate number of shares issuable under the Plan, there is no maximum or
minimum number of shares as to which a stock grant or Plan option may be granted
to any person. Shares used for stock grants and Plan options may be authorized
and unissued shares or shares reacquired by us, including shares purchased in
the open market. Shares covered by Plan options which terminate unexercised will
again become available for grant as additional options, without decreasing the
maximum number of shares issuable under the Plan, although such shares may also
be used by us for other purposes.
The Plan
provides that, if our outstanding shares are increased, decreased, exchanged or
otherwise adjusted due to a share dividend, forward or reverse share split,
recapitalization, reorganization, merger, consolidation, combination or exchange
of shares, an appropriate and proportionate adjustment shall be made in the
number or kind of shares subject to the Plan or subject to unexercised options
and in the purchase price per share under such options. Any adjustment, however,
does not change the total purchase price payable for the shares subject to
outstanding options. In the event of our proposed dissolution or liquidation, a
proposed sale of all or substantially all of our assets, a merger or tender
offer for our shares of common stock, the Board of Directors may declare that
each option granted under the Plan shall terminate as of a date to be fixed by
the Board of Directors; provided that not less than 30 days written notice of
the date so fixed shall be given to each participant holding an option, and each
such participant shall have the right, during the period of 30 days preceding
such termination, to exercise the participant's option, in whole or in part,
including as to options not otherwise exercisable.
Terms
of Exercise
The Plan
provides that the options granted thereunder shall be exercisable from time to
time in whole or in part, unless otherwise specified by the Committee or by the
Board of Directors.
The Plan
provides that, with respect to incentive stock options, the aggregate fair
market value (determined as of the time the option is granted) of the shares of
common stock, with respect to which incentive stock options are first
exercisable by any option holder during any calendar year shall not exceed
$100,000.
Exercise
Price
The
purchase price for shares subject to incentive stock options must be at least
60% of the fair market value of our common stock on the date the option is
granted, except that the purchase price must be at least 110% of the fair market
value in the case of an incentive option granted to a person who is a "10%
stockholder." A "10% stockholder" is a person who owns (within the meaning of
Section 422(b)(6) of the Internal Revenue Code of 1986) at the time the
incentive option is granted, shares possessing more than 10% of the total
combined voting power of all classes of our outstanding shares. The Plan
provides that fair market value shall be determined by the Board or the
Committee in accordance with procedures which it may from time to time
establish. If the purchase price is paid with consideration other than cash, the
Board or the Committee shall determine the fair value of such consideration to
us in monetary terms.
The
exercise price of non-qualified options shall be determined by the Board of
Directors or the Committee, but shall not be less than the par value of our
common stock on the date the option is granted.
The per
share purchase price of shares issuable upon exercise of a Plan option may be
adjusted in the event of certain changes in our capitalization, but no such
adjustment shall change the total purchase price payable upon the exercise in
full of options granted under the Plan.
Manner
of Exercise
Plan
options are exercisable by delivery of written notice to us stating the number
of shares with respect to which the option is being exercised, together with
full payment of the purchase price therefor. Payment shall be in cash, checks,
certified or bank cashier's checks, promissory notes secured by the shares
issued through exercise of the related options, shares of common stock or in
such other form or combination of forms which shall be acceptable to the Board
of Directors or the Committee, provided that any loan or guarantee by us of the
purchase price may only be made upon resolution of the Board or Committee that
such loan or guarantee is reasonably expected to benefit us, and further
provided that any such loan or guarantee is permitted under applicable
law.
Option
Period
All
incentive stock options shall expire on or before the tenth anniversary of the
date the option is granted except as limited above. However, in the case of
incentive stock options granted to an eligible employee owning more than 10% of
the common stock, these options will expire no later than five years after the
date of the grant. Non-qualified options shall expire ten years and one day from
the date of grant unless otherwise provided under the terms of the option
grant.
Termination
All Plan
options are nonassignable and nontransferable, except by will or by the laws of
descent and distribution, and during the lifetime of the optionee, may be
exercised only by such optionee, except as provided by the board of the
Committee. If an optionee shall die (a) while our employee or (b) within three
months after termination of employment by us because of disability, or
retirement or otherwise, such options may be exercised, to the extent that the
optionee shall have been entitled to do so on the date of death or termination
of employment, by the person or persons to whom the optionee's right under the
option pass by will or applicable law, or if no such person has such right, by
his executors or administrators. Options are also subject to termination by the
Committee or the Board under certain conditions.
In the
event of termination of employment because of death while an employee, or
because of disability, the optionee's options may be exercised not later than
the expiration date specified in the option or one year after the optionee's
death, whichever date is earlier, or in the event of termination of employment
because of retirement or otherwise, not later than the expiration date specified
in the option or one year after the optionee's death, whichever date is
earlier.
If an
optionee's employment by us terminates because of disability and such optionee
has not died within the following three months, the options may be exercised, to
the extent that the optionee shall have been entitled to do so at the date of
the termination of employment, at any time, or from time to time, but not later
than the expiration date specified in the option or one year after termination
of employment, whichever date is earlier.
If an
optionee's employment shall terminate for any reason other than death or
disability, optionee may exercise the options to the same extent that the
options were exercisable on the date of termination, for up to three months
following such termination, or on or before the expiration date of the options,
whichever occurs first. In the event that the optionee was not entitled to
exercise the options at the date of termination or if the optionee does not
exercise such options (which were then exercisable) within the time specified
herein, the options shall terminate.
If an
optionee's employment shall terminate for any reason other than death,
disability or retirement, all right to exercise the option shall terminate not
later than 90 days following the date of such termination of employment, except
as otherwise provided under the Plan.
Modification
and Termination of Plans
The Board
of Directors or Committee may amend, suspend or terminate the Plan at any time.
However, no such action may prejudice the rights of any holder of a stock grant
or optionee who has prior thereto been granted options under the Plan. Any such
termination of the Plan shall not affect the validity of any stock grants or
options previously granted thereunder. Unless the Plan shall theretofore have
been suspended or terminated by the Board of Directors, the Plan shall terminate
on
June 15,
2014
.
Federal
Income Tax Effects
The
following discussion applies to the Plan and is based on federal income tax laws
and regulations in effect on June 30, 2004. It does not purport to be a complete
description of the federal income tax consequences of the Plan, nor does it
describe the consequences of state, local or foreign tax laws which may be
applicable. Accordingly, any person receiving a grant under the Plan should
consult with his own tax adviser.
The Plan
is not subject to the provisions of the Employee Retirement Income Security Act
of 1974 and is not qualified under Section 401(a) of the Internal Revenue Code
of 1986, as amended (the "Code").
An
employee granted an incentive stock option does not recognize taxable income
either at the date of grant or at the date of its timely exercise. However, the
excess of the fair market value of common stock received upon exercise of the
incentive stock option over the exercise price is an item of tax preference
under Section 57(a)(3) of the Code and may be subject to the alternative minimum
tax imposed by Section 55 of the Code. Upon disposition of stock acquired on
exercise of an incentive stock option, long-term capital gain or loss is
recognized in an amount equal to the difference between the sales price and the
incentive option exercise price, provided that the option holder has not
disposed of the stock within two years from the date of grant and within one
year from the date of exercise. If the incentive option holder disposes of the
acquired stock (including the transfer of acquired stock in payment of the
exercise price of an incentive stock option) without complying with both of
these holding period requirements ("Disqualifying Disposition"), the option
holder will recognize ordinary income at the time of such Disqualifying
Disposition to the extent of the difference between the exercise price and the
lesser of the fair market value of the stock on the date the incentive option is
exercised (the value six months after the date of exercise may govern in the
case of an employee whose sale of stock at a profit could subject him to suit
under Section 16(b) of the Securities Exchange Act of 1934) or the amount
realized on such Disqualifying Disposition. Any remaining gain or loss is
treated as a short-term or long-term capital gain or loss, depending on how long
the shares are held. In the event of a Disqualifying Disposition, the incentive
stock option tax preference described above may not apply (although, where the
Disqualifying Disposition occurs subsequent to the year the incentive stock
option is exercised, it may be necessary for the employee to amend his return to
eliminate the tax preference item previously reported). We are not entitled to a
tax deduction upon either exercise of an incentive option or disposition of
stock acquired pursuant to such an exercise, except to the extent that the
option holder recognized ordinary income in a Disqualifying
Disposition.
If the
holder of an incentive stock option pays the exercise price, in full or in part,
with shares of previously acquired common stock, the exchange should not affect
the incentive stock option tax treatment of the exercise. No gain or loss should
be recognized on the exchange, and the shares received by the employee, equal in
number to the previously acquired shares exchanged therefor, will have the same
basis and holding period for long-term capital gain purposes as the previously
acquired shares. The employee will not, however, be able to utilize the old
holding period for the purpose of satisfying the incentive stock option
statutory holding period requirements. Shares received in excess of the number
of previously acquired shares will have a basis of zero and a holding period
which commences as of the date the common stock is issued to the employee upon
exercise of the incentive option. If an exercise is effected using shares
previously acquired through the exercise of an incentive stock option, the
exchange of the previously acquired shares will be considered a disposition of
such shares for the purpose of determining whether a Disqualifying Disposition
has occurred.
In
respect to the holder of non-qualified options, the option holder does not
recognize taxable income on the date of the grant of the
non-qualified option, but recognizes ordinary income generally at the date
of exercise in the amount of the difference between the option exercise price
and the fair market value of the common stock on the date of exercise. However,
if the holder of non-qualified options is subject to the restrictions on resale
of common stock under Section 16 of the Securities Exchange Act of 1944, such
person generally recognizes ordinary income at the end of the six-month period
following the date of exercise in the amount of the difference between the
option exercise price and the fair market value of the common stock at the end
of the six-month period. Nevertheless, such holder may elect within 30 days
after the date of exercise to recognize ordinary income as of the date of
exercise. The amount of ordinary income recognized by the option holder is
deductible by us in the year that income is recognized.
In
connection with the issuance of stock grants as compensation, the recipient must
include in gross income the excess of the fair market value of the property
received over the amount, if any, paid for the property in the first taxable
year in which beneficial interest in the property either is "transferable" or is
not subject to a "substantial risk of forfeiture." A substantial risk of
forfeiture exists where rights and property that have been transferred are
conditioned, directly or indirectly, upon the future performance (or refraining
from performance) of substantial services by any person, or the occurrence of a
condition related to the purpose of the transfer, and the possibility of
forfeiture is substantial if such condition is not satisfied. Stock grants
received by a person who is subject to the short swing profit recovery rule of
Section 16(b) of the Securities Exchange Act of 1934 is considered subject to a
substantial risk of forfeiture so long as the sale of such property at a profit
could subject the stockholder to suit under that section. The rights of the
recipient are treated as transferable if and when the recipient can sell,
assign, pledge or otherwise transfer any interest in the stock grant to any
person. Inasmuch as the recipient would not be subject to the short swing profit
recovery rule of Section 16(b) of the Securities Exchange Act of 1934 and the
stock grant, upon receipt following satisfaction of condition prerequi-sites to
receipt, will be presently transferable and not subject to a substantial risk of
forfeiture, the recipient would be obligated to include in gross income the fair
market value of the stock grant received once the conditions to receipt of the
stock grant are satisfied.
Restrictions
Under Securities Laws
The sale
of all shares issued under the Plan must be made in compliance with federal and
state securities laws. Our officers, directors and 10% or greater shareholders,
as well as certain other persons or parties who may be deemed to be "affiliates"
of ours under federal securities laws, should be aware that resales by
affiliates can only be made pursuant to an effective registration statement,
Rule 144 or other applicable exemption. Our officers, directors and 10% and
greater stockholders may also become subject to the "short swing" profit rule of
Section 16(b) of the Securities Exchange Act of 1934.
SELLING
SECURITY HOLDERS
Employment
Agreement with Matthew P. Dwyer
On
February 23, 2003, we entered into an employment agreement with Matthew P. Dwyer
covering Mr. Dwyer's services as our President and Chief Executive Officer.
Under the employment agreement, as amended from time to time to the date hereof,
Mr. Dwyer receives compensation by way of a base salary in the amount of
$180,000 and options to purchase 200,000 shares of our common stock each quarter
during the term of the agreement. The options are exercisable at fair market
value, based upon the closing bid price for our common stock on the first
trading day of the quarter. This prospectus covers the resale of an aggregate of
1,000,000 shares of common stock issuable upon exercise of options granted to
Mr. Dwyer under the Plan for the period from October 1, 2004 through
December 31, 2005.
Selling
Security Holders
The
information under this heading relates to resales of shares covered by this
prospectus by persons who are our "affiliates" as that term in defined under
federal securities laws. Shares issued pursuant to this prospectus to our
affiliates are "control" shares under federal securities laws.
The
following table sets forth:
-
the
      name of each affiliated selling security
holder,
-
the
      amount of common stock owned beneficially, directly or indirectly, by each
      affiliated selling security holder,
-
the
      amount of common stock owned beneficially, directly or indirectly, by each
      affiliated selling security holder,
-
the
      maximum amount of shares to be offered by the affiliated selling security
      holders pursuant to this prospectus,
-
the
      amount of common stock to be owned by each affiliated selling security
      holder following sale of the shares, and
-
the
      percentage of our common stock to be owned by the affiliated selling
      security holder following completion of such offering, and adjusted to
      give effect to the issuance of shares upon the exercise of the named
      selling security holder's options or warrants, but no other person's
      options or warrants.
Beneficial
ownership is determined in accordance with the rules of the SEC and generally
includes voting or investment power with respect to securities and includes any
securities, which the person has the right to acquire within 60 days through the
conversion or exercise of any security or other right. The information as to the
number of shares of our common stock owned by each affiliated selling security
holder is based upon our books and records and the information provided by our
transfer agent.
We may
amend or supplement this prospectus from time to time to update the disclosure
set forth in the table. Because the selling security holders identified in the
table may sell some or all of the shares owned by them which are included in
this prospectus, and because there are currently no agreements, arrangements or
understandings with respect to the sale of any of the shares, no estimate can be
given as to the number of shares available for resale hereby that will be held
by the affiliated selling security holders upon termination of the offering made
hereby. We have therefore assumed, for the purposes of the following table, that
the affiliated selling security holders will sell all of the shares owned by
them that are being offered hereby, but will not sell any other shares of our
common stock that they presently own.
Percentage
to
      be Owned
After
Offering
Shares
      to be
Owned
      After
Offering
Name
      of Selling
Security
      Holder
Number
      of
Shares
      Owned
Shares
      to
be
      Offered
Matthew
      P. Dwyer
4,205,500
      (1)
1,000,000
3,205,500
19.9%
(1)
Includes
(a) 3,405,500 shares of outstanding common stock, 500,000 of which are
registered to Wall Street-Review Financial Services, Inc. and 2,905,500 of which
are registered to AFAB, Inc. and (b) 800,000 shares issuable upon exercise of
options to be earned under his employment agreement between January 1, 2005 and
December 31, 2005. Mr. Dwyer is the sole officer and director of Wall
Street-Review Financial Services, Inc., and the sole officer, director and
shareholder of AFAB, Inc.
PLAN
OF DISTRIBUTION
The
information under this heading includes resales of shares covered by this
prospectus by persons who are our "affiliates" as that term in defined under
federal securities laws.
The
shares covered by this prospectus may be resold and distributed from time to
time by the selling security holders in one or more transactions, including
ordinary broker's transactions, privately-negotiated transactions or through
sales to one or more broker-dealers for resale of these shares as principals, at
market prices existing at the time of sale, at prices related to existing market
prices, through Rule 144 transactions or at negotiated prices. Usual and
customary or specifically negotiated brokerage fees or commissions may be paid
by the selling security holders in connection with sales of securities.
The
selling security holders may sell shares in one or more of the following
methods, which may include crosses or block transactions:
-
through
      the "pink sheets", on the over-the-counter Bulletin Board, or on such
      exchanges or over-the-counter markets on which our shares may be listed
      from time-to-time, in transactions which may include special offerings,
      exchange distributions and/or secondary distributions, pursuant to and in
      accordance with the rules of such
exchanges;
-
in
      transactions other than on such exchanges or in the over-the-counter
      market, or a combination of such transactions, including sales through
      brokers, acting as principal or agent, sales in privately negotiated
      transactions, or dispositions for value, subject to rules relating to
      sales by affiliates; or
-
through
      the writing of options on our shares, whether or not such options are
      listed on an exchange, or other transactions requiring delivery of our
      shares, or the delivery of our shares to close out a short
      position.
Any such
transactions may be effected at market prices prevailing at the time of sale, at
prices related to such prevailing market prices, at negotiated prices or at
fixed prices.
In making
sales, brokers or dealers used by the selling security holders may arrange for
other brokers or dealers to participate. The selling security holders who are
affiliates of Total Identity and others through whom such securities are sold
may be "underwriters" within the meaning of the Securities Act for the
securities offered, and any profits realized or commission received may be
considered underwriting compensation. Information as to whether an
underwriter(s) who may be selected by the selling security holders, or any other
broker-dealer, is acting as principal or agent for the selling security holders,
the compensation to be received by underwriters who may be selected by the
selling security holders, or any broker-dealer, acting as principal or agent for
the selling security holders and the compensation to be received by other
broker-dealers, in the event the compensation of other broker-dealers is in
excess of usual and customary commissions, will, to the extent required, be set
forth in a supplement to this prospectus. Any dealer or broker participating in
any distribution of the shares may be required to deliver a copy of this
prospectus, including the supplement, if any, to any person who purchases any of
the shares from or through a dealer or broker.
We have
advised the selling security holders that, at the time a resale of the shares is
made by or on behalf of a selling security holder, a copy of this prospectus is
to be delivered.
We have
also advised the selling security holders that during the time as they may be
engaged in a distribution of the shares included herein they are required to
comply with Regulation M of the Exchange Act. With certain exceptions,
Regulation M precludes any selling security holders, any affiliated purchasers
and any broker-dealer or other person who participates in the distribution from
bidding for or purchasing, or attempting to induce any person to bid for or
purchase any security which is the subject of the distribution until the entire
distribution is complete. Regulation M also prohibits any bids or purchase made
in order to stabilize the price of a security in connection with the
distribution of that security.
Sales of
securities by the selling security holders and us or even the potential of these
sales may have an adverse effect on the market price for shares of our common
stock.
DESCRIPTION
OF SECURITIES
General
The
following description of our capital stock and provisions of our Articles of
Incorporation is a summary thereof and is qualified by reference to our Articles
of Incorporation, copies of which may be obtained upon request. Our authorized
capital consists of 30,000,000 shares of common stock, par value $.01 per share,
of which 15,347,175 shares are issued and outstanding. We are authorized to
issue 2,000,000 shares of preferred stock, none of which are issued or
outstanding.
Common
Stock
Holders
of shares of common stock are entitled to share, on a ratable basis, such
dividends as may be declared by the board of directors out of funds, legally
available therefor. Upon our liquidation, dissolution or winding up, after
payment to creditors, our assets will be divided pro rata on a per share basis
among the holders of our common stock.
Each
share of common stock entitles the holders thereof to one vote. Holders of
common stock do not have cumulative voting rights. Our By-Laws require that only
a majority of our issued and outstanding shares need be represented to
constitute a quorum and to transact business at a stockholders' meeting. Our
common stock has no preemptive, subscription or conversion rights and is not
redeemable by us.
Preferred
Stock
Our
articles of incorporation authorizes our board of directors to create and issue
series of preferred stock from time to time, with such designations,
preferences, conversion rights, cumulative, relative, participating, optional or
other rights, including voting rights, qualifications, limitations or
restrictions thereof as permitted under Florida law.
On July
1, 2004, following authorization by our Board of Directors, we amended our
Articles of Incorporation to establish a series consisting of 1,250,000 shares
of Series 1 preferred stock. The Series 1 preferred stock provides for a
liquidation preference of $1.00 per share, prior to any liquidation
distributions to holders of common stock. The Series 1 preferred stock accrues
dividends at the rate of 12%, payable in arrears, in cash or by the issuance of
shares of Series 1 preferred stock, Each share of Series 1 preferred stock is
entitled to one vote per share, and votes along with common stockholders on all
matters submitted to a vote of common stockholders. Each share of Series 1
preferred stock may be redeemed by the Company at a price of $1.00 per share, on
ten days prior written notice. No shares of Series 1 preferred stock have been
issued.
Transfer
Agent and Registrar
The
transfer agent and registrar for our common stock is North American Transfer
Company is North American Transfer Company, 147 West Merrick Road, Freeport, New
York 11520.
EXPERTS
The
financial statements of Total Identity Corp. f/k/a TMI Holdings, Inc. as of
December 31, 2003, and for the year ended December 31, 2003, appearing in our
Annual Report on Form 10-KSB for the year ended December 31, 2003 have been
audited by HJ & Associates, LLC, Independent Registered Public Accountants,
as set forth in their report thereon and are incorporated by reference in
reliance upon the authority of such firm as experts in auditing and accounting.
The
financial statements of TMI Holdings, Inc. for the year ended December 29, 2002,
appearing in our Annual Report on Form 10-KSB for the year ended December 31,
2003 have been audited by
Berkowitz
Dick Pollack & Brant LLP
,
Independent Registered Public Accountants, as set forth in their report thereon
and are incorporated by reference in reliance upon the authority of such firm as
experts in auditing and accounting.
INDEMNIFICATION
The
Florida Business Corporation Act allows us to indemnify each of our officers and
directors who are made a party to a proceeding if
(a)
the
      officer or director conducted himself or herself in good
      faith;
(b)
his
      or her conduct was in our best interests, or if the conduct was not in an
      official capacity, that the conduct was not opposed to our best interests;
      and
(c)
in
      the case of a criminal proceeding, he or she had no reasonable cause to
      believe that his or her conduct was
unlawful.
Article
IX of the Company's Restated Articles of Incorporation provide as
follows:
"Article
IX
To the
fullest extent permitted by law, no director or officer of the Corporation shall
be personally liable to the Corporation or its shareholders for damages for
breach of any duty owed to the Corporation or its shareholders. In addition, the
Corporation shall have the power, in its Bylaws or in any resolution of its
stockholders or directors, to undertake to indemnify the officers and directors
of this Corporation against any contingency or peril as may be determined to be
in the best interests of this Corporation, and in conjunction therewith, to
procure, at this Corporation's expense, policies of insurance."
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to our directors, officers and controlling persons pursuant to the
foregoing provisions, or otherwise, we have been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act of 1933 and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, we will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
PART
II
INFORMATION
REQUIRED IN REGISTRATION STATEMENT
Item
3
.
Incorporation
of Documents by Reference
The
documents listed below are incorporated by reference in the Registration
Statement.
-
Annual
      Report on Form 10-KSB filed on May 11, 2004
-
Form
      8-K Current Report filed on May 20, 2004
-
Quarterly
      Report on Form 10-QSB filed on June 15, 2004
-
Form
      8-K Current Report filed on August 5, 2004
-
Quarterly
      Report on Form 10-QSB filed on September 24, 2004, as amended by Form
      10-QSB/A filed on September 28, 2004
-
Form
      8-K Current Report filed on December 7, 2004
-
Quarterly
      Report on Form 10-QSB filed on December 17, 2004
-
Form
      8-K Current Report filed on December 29, 2004
-
Form
      8-K Current Report filed on January 4, 2005
-
Form
      8-K Current Report filed on January 14, 2005
-
Form
      8-K Current Report filed on February 4,
2005
All
reports and documents filed by us pursuant to Section 13, 14 or 15(d) of the
Exchange Act, prior to the filing of a post-effective amendment which indicates
that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the respective date of filing of
such documents. Any statement incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this prospectus to the extent that
a statement contained herein or in any other subsequently filed document, which
also is or is deemed to be incorporated by reference herein, modifies or
supersedes such statement. Any statement modified or superseded shall not be
deemed, except as so modified or superseded, to constitute part of this
prospectus.
We hereby
undertake to provide without charge to each person, including any beneficial
owner, to whom a copy of the prospectus has been delivered, on the written
request of any such person, a copy of any or all of the documents referred to
above which have been or may be incorporated by reference in this prospectus,
other than exhibits to such documents. Written requests for such copies should
be directed to Corporate Secretary, Total Identity Corp.,
1007 N.
Federal Hwy, #A-3, Fort Lauderdale, Florida 33304, (561) 208-8101
.
Item
4
.
Description
of Securities
The
description of the Registrant's securities is incorporated by reference to the
description of our securities set forth under "Description of Securities" in the
prospectus forming a part of this registration statement.
Item
5
.
Interests
of Named Experts and Counsel
Not
Applicable.
II-1
Item
      6
.
Indemnification
      of Directors and Officers
The
Florida Business Corporation Act allows us to indemnify each of our officers and
directors who are made a party to a proceeding if
(d)
the
      officer or director conducted himself or herself in good
      faith;
(e)
his
      or her conduct was in our best interests, or if the conduct was not in an
      official capacity, that the conduct was not opposed to our best interests;
      and
(f)
in
      the case of a criminal proceeding, he or she had no reasonable cause to
      believe that his or her conduct was
unlawful.
Article
IX of the Company's Restated Articles of Incorporation provide as
follows:
"Article
IX
To the
fullest extent permitted by law, no director or officer of the Corporation shall
be personally liable to the Corporation or its shareholders for damages for
breach of any duty owed to the Corporation or its shareholders. In addition, the
Corporation shall have the power, in its Bylaws or in any resolution of its
stockholders or directors, to undertake to indemnify the officers and directors
of this Corporation against any contingency or peril as may be determined to be
in the best interests of this Corporation, and in conjunction therewith, to
procure, at this Corporation's expense, policies of insurance."
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to our directors, officers and controlling persons pursuant to the
foregoing provisions, or otherwise, we have been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act of 1933 and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, we will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
Item
7
.
Exemption
From Registration Claimed
Not
applicable.
Item
8
.
Exhibits
5.1
Opinion
      of Schneider Weinberger & Beilly LLP
10.1
Total
      Identity Corp. 2004 Equity Compensation Plan
23.1
Consent
      of Schneider Weinberger LLP (included in Exhibit 5.1)
23.2(i)
Consent
      of HJ & Associates, LLC
23.2(ii)
Consent
      of
Berkowitz
      Dick Pollack & Brant LLP
II-2
Item
9
.
Undertakings
The
undersigned registrant hereby undertakes:
(1)
To
      file, during any period in which offers or sales are being made, a
      post-effective amendment to this registration
statement:
(a)
To
      include any prospectus required by section 10(a)(3) of the Securities Act
      of 1933;
(b)
To
      reflect in the prospectus any facts or events arising after the effective
      date of the registration statement (or the most recent post-effective
      amendment thereof) which, individually or in the aggregate, represent a
      fundamental change in the information set forth in the registration
      statement. Notwithstanding the foregoing, any increase or decrease in
      volume of securities offered (if the total dollar value of securities
      offered would not exceed that which was registered) and any deviation from
      the low or high end of the estimated maximum offering range may be
      reflected in the form of prospectus filed with the Commission pursuant to
      Rule 424(b) if, in the aggregate, the changes in volume and price
      represent no more than a 20% change in the maximum aggregate offering
      price set forth in the "Calculation of Registration Fee" table in the
      effective registration statement;
(c)
To
      include any material information with respect to the plan of distribution
      not previously disclosed in the registration statement or any material
      change to such information in the registration
  statement;
Provided,
however, that paragraphs (1)(i) and (1)(ii) do not apply if the registration
statement is on Form S-3 or Form S-8 and the information required to be included
in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement.
(2)
That,
      for the purpose of determining any liability under the Securities Act of
      1933, each such post-effective amendment shall be deemed to be a new
      registration statement relating to the securities offered therein, and the
      offering of such securities at that time shall be deemed to be the initial
      bona fide offering thereof.
(3)
To
      remove from registration by means of a post-effective amendment any of the
      securities being registered which remain unsold at the termination of the
      offering.
The
undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's
annual report pursuant to section 13(a) or section 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers, and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 against such liabilities (other than the payment by the registrant in the
successful defense of an action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel, the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act of 1933 and will be
governed by the final adjudication of such issue.
II-3
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of Ft.
Lauderdale, State of Florida, on February 11, 2005.
TOTAL
IDENTITY CORP.
TOTAL
      IDENTITY CORP.
/s/
      Matthew P. Dwyer
Matthew
      P. Dwyer, CEO and
Principal
      Executive Officer
Pursuant
to the requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the dates
indicated.
Signature
Title
Date
/s/
      Matthew P. Dwyer
Matthew
      P. Dwyer
President,
      Chief Executive Officer,
Principal
      Executive Officer, Principal
Financial
      and Accounting Officer
February
11, 2005