The wires are buzzing this morning after Applied Digital put out a press release claiming that the FDA has approved the use of their VeriChip as an implantable device that can pass medical info on to medical staff with the proper readers. Of course, if you've been following the Applied Digital saga over the past few years, you might be more than a bit skeptical. Two and a half years ago, Applied Digital claimed the FDA had approved the VeriChip. Except that never happened. The FDA had asked Applied Digital for more information about the chip, and Applied Digital somehow interpreted that to mean approval. Later, the FDA did give approval, but specifically said not for medical uses, which Applied promptly ignored and announced the device could be used for medical purposes, leading the FDA to tell them to cut it out again. So, forgive us if we're skeptical that the FDA has really said what Applied Digital claims they've said. So far, there hasn't been much of a track record from Applied Digital to support these claims. This is, also, the company that failed to pay back debt they owed IBM and then proceeded to threaten to sue IBM for daring to try to collect on the collateral (Applied Digital stock) they were owed as part of the loan agreement. Beyond trusting them to tell you what the FDA said, would you trust them to stick a computer chip in your arm?
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