SOURCE: Implant Sciences Corporation
WILMINGTON, MA--(Marketwire - Aug 21, 2012) - Implant Sciences Corporation (OTCQB: IMSC) (PINKSHEETS: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced that its QS-B220 Explosives and Narcotics Trace Detector has successfully completed the certification readiness testing with the Transportation Security Laboratory ("TSL"), the testing body of the Transportation Security Administration ("TSA"). The B220 is now undergoing the final independent validation testing for TSA qualification for air cargo screening.
"We are pleased to have been informed last week that our B220 system has successfully completed the certification readiness and verification testing and has now been accepted into final validation testing with the TSL. This is a major milestone for the Company. Entering into this final phase of approval gives us great confidence that our desktop B220 explosives trace detection system will be well positioned for adoption in the U.S. and global markets," stated Implant Sciences' President and CEO, Glenn D. Bolduc. "While the next few weeks will be a quiet period during the final stage of testing, we remain confident in our system's performance and are hopeful that we will have good news to report to our shareholders by the end of our fiscal first quarter (ended September 30, 2012). This will put us in good position to capitalize on the December 3, 2012 date for the air cargo industry to comply with the mandates of air cargo screening regulations."
About the Quantum Sniffer™ QS-B220
The QS-B220, introduced in May 2011, is a desktop explosives and narcotics trace detector that uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, and homemade explosives, plus narcotic substances. The QS-B220 continues the Implant Sciences tradition of freedom from radioactive materials, low total cost of ownership, and high operational availability.
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 and narcotics trace detection systems which ship to a growing number of locations domestically and internationally. Implant Sciences' QS-H150 portable explosives trace detector has received Qualified Anti-Terrorism Technology Designation and the Company's QS-B220 benchtop explosives and narcotics trace detector has received a Developmental Testing & Evaluation (DT&E) Designation by the U.S. Department of Homeland Security under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act). For further details on the Company and its products, please visit the Company's website at www.implantsciences.com.
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 our explosives detection products and technologies (including any new products we may develop) may not be accepted by the Transportation Security Administration or by other U.S. or foreign government and law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change; the risk that we will be required to repay all of our indebtedness to our secured lender, DMRJ Group, by September 30, 2012; that 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; the risk that we continue to incur substantial operating losses and may never be profitable; the risk that 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; the risks that our markets are subject to technological change and that our success depends on our ability to develop and introduce new products; the risk that we may not be able to retain our management and key employees or to identify, hire and retain additional personnel as needed; the risks that we may not be able to enforce our patent and other intellectual property rights or operate without infringing on the proprietary rights of others; 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.