Implant Sciences Awarded Safety Act Designation For Quantum Sniffer™ Explosives Detection Technology
Implant Sciences Corporation (OTCBB:IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, has been issued a coveted “Designation” for its Quantum Sniffer™ technology under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act) from the U.S. Department of Homeland Security. The designation applies to the company’s QS-H100 and QS-H150 Portable Explosives Detectors.
The purpose of the SAFETY Act is to ensure that the threat of liability does not deter manufacturers of anti-terrorism technologies from developing and commercializing new products that could significantly reduce the risks or effects of terrorist events.
Glenn D. Bolduc, CEO, commented, “Implant Sciences is extremely proud of this significant achievement and the formal recognition of our Quantum Sniffer as a Qualified Anti-Terrorism Technology.” Mr. Bolduc continued, “The Company would like to extend its thanks to the Secure Strategy Group, whose advisory services were instrumental in this process.”
"We are very pleased to receive the Department of Homeland Security’s SAFETY Act Designation,” said Todd Silvestri, Vice President of Technology. “It is very gratifying in that the approval process not only considered the efficacy of the Quantum Sniffers explosives detection technologies, it also stressed the quality and reliability of the product."For more information about the SAFETY Act, and the Designation of the Quantum Sniffer, please see www.safetyact.gov. 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. 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; 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.
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