Implant Sciences announced the on-time shipment on September 30, 2004 of three (3) production units of the Quantum Sniffer explosives detection device to a military agency in accordance with the terms of a certain contract awarded to the Company in October 2003.
WAKEFIELD, MA (PRWEB) October 1, 2004 -- Implant Sciences Corporation (AMEX: "IMX", "IMX.WS") a developer and manufacturer of products for national security, medicine and industry, announced the on-time shipment on September 30, 2004 of three (3) production units of the Quantum Sniffer explosives detection device to a military agency in accordance with the terms of a certain contract awarded to the Company in October 2003.
The Quantum Sniffer is the Company's trace explosives detection device using the Company's patented, proprietary QSTM Ion Mobility Spectrometry technology, which electronically detects minute quantities of explosive vapor molecules in the air. These units may be used to determine the presence of, or confirm the absence of, common explosives in personal equipment, packages, postal mail and cargo that may be conveyed by persons, vehicles, airplanes, and watercraft.
Dr. Anthony J. Armini, PhD., CEO of Implant Sciences, commented, This shipment of production-ready explosives detection equipment represents the culmination of several years of research, development and commercialization of our unique explosives detection technology. We believe the Quantum Sniffer could have a significant impact in effectively detecting trace amounts of explosives on personnel and vehicles. The Quantum Sniffer represents the first of many devices using our QSTM Ion Mobility Spectrometry technology that could be used as an effective tool in the war on terrorism."
Dr. Armini further commented, Given the sensitive nature of our explosive detection contracts with government and military agencies, we are specifically prohibited from divulging any information to the public without the prior approval of the contracting agent. As the QSTM units shipping yesterday were evaluated, and subject to the requirements of confidentiality mandated by certain government and military agencies with whom we contract, we will provide further details as to the progress of the evaluations of our explosives detection devices. However, we believe that with this timely delivery of our commercially available QSTM explosives detection device, we are now in a position to exploit the distribution channels we have already established, and to add to our distribution channels, in order to actively seek orders from governmental agencies, the military sector, and companies in the private sector, both domestically and internationally."
The Company will be updating its corporate website at www.implantsciences.com as soon as possible to include photographs of the new portable, hand-held QSTM explosives detection devices and their shipping containers.
Company Conference Call
Management will host a conference call on Tuesday, October 5, 2004 at 4:10 PM Eastern Time to review the financial results and other corporate events, including the status of our explosives detection activities, followed by a Q&A session. The call can be accessed by dialing: 888-396-2384 and entering the passcode: 75716612. Participants are asked to call the assigned number approximately 5 minutes before the conference call begins. A replay of the conference call will be available two hours after the call for the following two business days by dialing: 888-286-8010 within the U.S. or 617-801-6888 outside the U.S. and entering passcode: 22335660.
This call is being webcast by CCBN and can be accessed at Implant Sciences website at www.implantsciences.com. The webcast can also be accessed at www.runonideas.com. The webcast is also being distributed over CCBNs Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBNs individual investor center at www.fulldisclosure.com or by visiting any of the investor sites in CCBNs Individual Investor Network. Institutional investors can access the call via StreetEvents, CCBNs password-protected event management site, at www.streetevents.com.
About Implant Sciences
Implant Sciences, incorporated in 1984, is using its core ion technology to develop, manufacture and market products for national security, medicine, and industry. Under development are portable and bench-top trace element detection devices to identify explosives, narcotics and other toxic materials. The Company has also received government grants from the US Army, Navy and Air Force, and the Transportation Security Administration to adapt the Company's explosive detection technology to a wide number of security requirements.
Using its proprietary ion implantation and thin film coating technologies, Implant Sciences has a sophisticated production line that modifies the surface characteristics of orthopedic joint implants to reduce polyethylene wear, thereby substantially increasing the life of the implants. The Company also manufactures and markets radioactive and non-radioactive products for medical use, including radioactive seeds for treating prostate cancer that are distributed throughout the United States by its own direct sales force. In parallel with the production of these seeds, it is also developing additional brachytherapy products for the treatment of breast, eye, and other cancers.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," should," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
# # #
|
