CoVar Applied Technologies, Inc. and New Folder Consulting LLC Announce Asset Purchase Agreement

McLean, VA and Durham, NC - December 9, 2013 - CoVar Applied Technologies, Inc. and New Folder Consulting, LLC are pleased to announce the completion of their merger, effective immediately. New Folder Consulting, LLC will continue to operate in Durham, NC as CoVar Research Division and will be led by Dr. Peter Torrione and Dr. Kenneth Morton, Jr. This merger cements a productive and innovative partnership between the companies spanning the last two years. CoVar has a commitment to its customers and its technology and will continue to invest in CoVar Research Division with the goal of expanding our world-class advanced algorithm capabilities.

About CoVar Applied Technologies, Inc.

Founded in 2011, CoVar is an entrepreneurial-minded research and development firm specializing in state-of-the-art sensor and control system technologies. We have expertise in machine intelligence, embedded hardware, software design, mixed signal hardware design, and systems engineering. We have developed systems and component technologies for a variety of radar, sonar, seismic, video, and oil-well drilling applications, to name a few.

CoVar provides applied research, consulting, engineering, product development services, and component technology licensing to DoD and industrial customers. Our staff is highly experienced, innovative, and customer-service oriented. Our customers and partners include DoD labs, academia, start-ups, and large corporations. We have experience managing a product development from concept to deployed and manufacturable product.