HiEnergy Technologies Begins Marketing Novel Counter-Terrorism Weapon.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Jan. 22, 2004 CARBOMB FINDER 3C3(TM) Represents First Company Product to Market; Transforms HiEnergy from Research and Development to Commercially Viable Entity HiEnergy Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : HIET) today announced its stoichiometric stoi·chi·om·e·try n. 1. Calculation of the quantities of reactants and products in a chemical reaction. 2. The quantitative relationship between reactants and products in a chemical reaction. explosive detector, the CarBomb Finder 3C3(TM), has been approved for marketing and sale by the Company's Board of Directors. Stoichiometric explosive detectors provide the unique and remote deciphering of chemical formulas through steel using advanced technology with fast neutrons and gamma rays Gamma rays Electromagnetic radiation emitted from excited atomic nuclei as an integral part of the process whereby the nucleus rearranges itself into a state of lower excitation (that is, energy content). . The CarBomb Finder 3C3(TM) is the first product HiEnergy Technologies has brought to market in its six-year history. "This is an important milestone for HiEnergy and its shareholders. We are pleased to bring our stoichiometer explosive detector to market and are particularly confident in its superiority compared to current explosive detection Explosive detection is a non-destructive inspection process to determine whether a container contains explosive material. Explosive detection is commonly used at airports, ports and for border control. technologies, which are chemically blind and dependent upon shape and density for classification, which results in many false alarms and consequent manual inspections," said Dr. Bogdan Maglich Dr. Bogdan C. Maglich (born c. 1930) is the leading advocate of a purported non-radioactive aneutronic fusion energy source. Maglich's Migma fusion would use colliding ion beams. Maglich has raised a few eyebrows by actually suing his scientific critics. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chief Scientific officer of HiEnergy. "In addition to offering a substantially more cost-effective and accurate tool in the remote detection of explosives, the CarBomb Finder 3C3(TM) weighs only approximately 80 pounds (200 pounds with shielding). The X-ray machines weigh 10 times as much." Dr. Maglich noted the base price of CarBomb Finder 3C3(TM) starts at approximately $99,000, a fraction of the cost of TSA TSA See tax-sheltered annuity (TSA). certified X-ray detectors. HiEnergy will commence immediate marketing of the CarBomb Finder both domestically and internationally through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Hi-Energy Defense, Inc., and through its developing network of independent sales representatives in Europe and the Middle East. 3C3(TM) was initially tested by the inspectors of AENA AENA Aeropuertos Españoles y Navegación Aérea AENA All England Netball Association AENA Amis des Epagneuls Nains Anglais (French: Friends of the Cavaliers and King Charles Spaniels) , the airport security agency of the Government of Spain, in September 2003. Subsequently, AENA invited the Company to bring the CarBomb Finder to the Madrid Airport for in-field tests at the airport parking lot. "HiEnergy is ready to ship the equipment to Madrid. We await the routine permission of the Spanish radiation safety agency of the Ministry of Economics, which we hope will be granted in approximately 30 days. "In addition to the commercial application of the CarBomb Finder 3C3(TM), our business plan calls for the application of stoichiometric explosive detectors to airport security screening as well. Our strategic decision to initially utilize this novel counter-terrorism product to car bombs was based on the fact that it can detect them 10 times faster than bombs in luggage. Once acceptance has been established, we plan to commercialize the more sensitive and profitable SuperSenzor Stoichiometers, our top line product currently under development, to airports on a global basis," said Dr. Maglich. The same core equipment installed in the CarBomb Finder 3C3(TM) was tested by the U.S. Navy on January 9, 2003. The system had a 100% effective rate in the detection of explosives. Advantages of the CarBomb Finder 3C3(TM) over PELAN, the only other fast neutron chemical-based detector, will be posted on HiEnergy's website, www.hienergyinc.com by January 23. Based upon available information and tests, the 3C3 is substantially faster and more accurate than PELAN. Furthermore, PELAN is unable to quantitatively detect nitrogen - the salient 'signature' of explosives. Hence, unlike the 3C3, PELAN cannot definitely determine explosive devices without secondary inspections. About HiEnergy Technologies, Inc. HiEnergy's Stoichiometry stoichiometry Determination of the proportions (by weight or number of molecules) in which elements or compounds react with one another. The rules for determining stoichiometric relationships are based on the laws of conservation (see technology has applications in several markets, including airport security screening, bio-weapons detection, landmine detection, contraband contraband, in international law, goods necessary or useful in the prosecution of war that a belligerent may lawfully seize from a neutral who is attempting to deliver them to the enemy. detection, and chemical and petrochemical industry applications. It has been developed through several years of research funded by both the private sector and the contracts from the Department of Defense and U.S. Customs. Currently, HiEnergy is under contract with the U.S. Army to develop a Stoichiometer prototype for anti-tank landmine detection. The first field test is scheduled for March 15, 2004. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. HiEnergy's marketing plans and the properties and prospective potential of its 3C3 technology as described in this news release constitute "forward looking statements" within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. federal securities laws that involve risks and uncertainties. Actual results may vary substantially from expectations as a result of a variety of factors including, by way of example and not limitation, HiEnergy's financial requirements and capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ; HiEnergy's ability to satisfactorily procure and complete sales contracts for its 3C3 technology on a profitable basis, acceptance of and demand for its 3C3 technology by governments and other prospective users; regulatory constraints; and the various risks and uncertainties disclosed by HiEnergy in its various and reports filed from time-to-time with the SEC. Readers are urged to carefully review and consider the various disclosures made by HiEnergy in its various reports filed from time-to-time with the SEC that attempt to advise interested parties of the risks and uncertainties that may affect HiEnergy's business and an investment in its securities. |
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