Implant Sciences Announces Credit Facility.WILMINGTON, Mass. -- Implant Sciences Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IMSC IMSC Integrated Media Systems Center (University of Southern California) IMSC Information Management Steering Committee IMSC International Mobile Satellite Conference IMSC Interworking Mobile Switching Center ), a supplier of systems and sensors for the homeland security market and related industries, today announced that on September 4, 2009, the Company and DMRJ Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control entered into a credit facility, pursuant to which DMRJ provided the Company with a revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. , in the maximum principal amount of $3,000,000. The Company intends to use the line of credit to build products to fulfill existing purchase orders. The Company filed a Current Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. which contains further details of the transaction. About Implant Sciences Implant Sciences develops, manufactures and sells sophisticated sensors and systems for the Security, Safety and Defense (SS&D) industries. The Company has developed proprietary technologies used in its commercial portable and bench-top explosive trace detection Noun 1. explosive trace detection - a system for screening luggage in airports; an agent passes a swab around or inside luggage and then runs the swab through a machine that can detect trace amounts of explosives ETD 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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: if third party credit is unavailable, our working capital could be restricted and we may not be able to borrow capital; and other risks and uncertainties described in the Company's 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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