(Reuters) - Applied Digital Solutions Inc. (ADSX.O: Quote, Profile, Research) on Tuesday said it was not aware of any reason for a 20 percent fall in its stock price over the past two days.

The identification and security technology company, in a statement, said it continues to experience positive developments in its VeriChip Corp., Digital Angel Corp. (DOC.A: Quote, Profile, Research) and Government Telecommunications units.

Applied Digital also said it was prepared to proceed with its initial public offering of VeriChip unit when the conditions warrant.

A registration statement relating to VeriChip's IPO has been filed with the U.S. Securities and Exchange Commission but has not yet become effective, Applied Digital said.

(Reporting by Devidutta Tripathy in Bangalore)

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