Anti-counterfeiting company moving to China

True Product ID Inc., a developer of anti-counterfeiting technology, said Friday it is moving its headquarters from Philadelphia to Beijing to focus on its initiatives in China.

As part of the move, Richard Bendis is relinquishing his positions as the company's chairman, president and CEO. He will continue to provide services to True Product ID (OTCB:TPDI) as a consultant.

Bendis joined True Product ID in March 2006 from Innovation Philadelphia, an economic-development organization started and largely funded by the city of Philadelphia. He was the first president and CEO of Innovation Philadelphia, which he joined in 2001. Prior to that, he was president and CEO of Kansas Technology Enterprise Corp.

James MacKay will replace Bendis as True Product ID's chairman. He was the company's interim chairman until Bendis became its chairman in March. His MacKay Group Ltd. has provided some of the more than $1 million in funding for True Product ID's Chinese initiatives and arranged for the rest. It also has agreed to provide True Product ID with a line of credit up to $150,000.

Sergio Luz, a member of True Product ID's board of directors, will become the company's president. Li Ning, the CEO of True Product ID's Chinese joint venture affiliate, True Product ID Technology (Beijing) Ltd., will join True Product ID's board.