Attached files
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8-K - 100125_IMX_FORM 8K_INDIA ORDER PR AND CONFERENCE - SECURE POINT TECHNOLOGIES INC | imxform8k_100125.htm |
EX-99.2 - 100125_IMX_FORM 8K_EX 99.2 - SECURE POINT TECHNOLOGIES INC | imxform8k_ex99-2.htm |
Exhibit
99.1
IMPLANT
SCIENCES AWARDED $6 MILLION CONTRACT
FOR
ITS QUANTUM SNIFFER™ QS-H150 EXPLOSIVES DETECTORS
Contract
Represents Significant Win in Indian Force Protection Market
WILMINGTON,
MA — (BUSINESS WIRE) — January 19, 2010 — Implant Sciences Corporation
(OTCBB:IMSC - News), a high technology supplier of systems and sensors for
homeland security markets, today announced a contract totaling approximately $6
million for its Quantum Sniffer™ QS-H150 Portable Explosives Detectors and
associated support. The contract was awarded by the Government of India, for use
by the Ministry of Defence (MoD) in Force Protection and Public Safety
applications throughout the country.
Glenn D.
Bolduc, President and CEO of Implant Sciences, commented, “This contract award
is significant in many ways. Most importantly, it allows Implant Sciences to
continue to contribute to worldwide anti-terrorism efforts. We are also very
pleased that this award represents the largest single order in the Company’s
history.” The Company expects to ship the entire order within the
current fiscal year ending June 30, 2010.
Jeff
Tehan, Implant Sciences’ Vice President of Marketing and Sales, added, “Implant
Sciences is the sole contract awardee after an arduous competitive evaluation
that started over 24 months ago. We are extremely proud of this, the
validation it represents, and the follow-on opportunities it creates. To best
support this contract and others in India and South Asia, Implant Sciences has
partnered with LNG Security Services of Delhi, who will provide warranty and
post-warranty support, as well as operator and administrator
training.
The
QS-H150 offers compelling technical, operational, and competitive advantages.
Among the most significant are non-contact sample collection; non-radioactive
ionization; simultaneous detection and identification of explosives particulate
and vapor; continuous self-calibration; and ultra-fast clear down (cycle time).
The substance library of the QS-H150 is the broadest in the industry and
includes not only standard military and commercial explosives, but also a wide
variety of improvised and homemade explosives (IED’s and HME’s). The library is
also easily expanded as new threats emerge. These advantages offer an extremely
versatile solution, and can be rapidly deployed to greatly increase the number
of items screened, effectively becoming a force multiplier.
About
Implant Sciences
Implant
Sciences develops, manufactures and sells sophisticated sensors and systems for
Security, Safety, and Defense (SS&D) markets. The Company has developed
proprietary technologies used in its commercial explosive trace detection
systems which ship to a growing number of locations domestically and
internationally. For further details on the Company and its products, please
visit the Company's website at www.implantsciences.com.
The
Implant Sciences Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6999
Safe
Harbor Statement
This
press release may contain certain “forward-looking statements,” as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such statements
are based on management’s current expectations and are subject to risks and
uncertainties that could cause the Company’s actual results to differ materially
from the forward-looking statements. Such risks and uncertainties include, but
are not limited to, the risks that we will be required to repay all of our
indebtedness to our secured lender, DMRJ Group by June 10, 2010; if we are
unable to satisfy our obligations to DMRJ and to raise additional capital to
fund operations, DMRJ may seize our assets and our business may fail; we
continue to incur substantial operating losses and may never be
profitable; our explosives detection products and technologies (including
any new products we may develop) may not be accepted by the U.S. government or
by other law enforcement agencies or commercial consumers of security products;
our products may not receive SAFETY Act qualification; liability claims related
to our products or our handling of hazardous materials could damage our
reputation and have a material adverse effect on our financial results;
our business is subject to intense competition and rapid technological
change; the delisting of our common stock by the NYSE Amex has limited our
stock’s liquidity and has impaired our ability to raise capital; and other
risks and uncertainties described in our filings with the Securities and
Exchange Commission, including its most recent Forms 10-K, 10-Q and 8-K.
Such statements are based on management's current expectations and assumptions
which could differ materially from the forward-looking statements.
Contact:
Implant
Sciences Corporation
Investor
Contact:
Aimee
Boutcher
973-239-2878
aboutcher@aol.com