Implant Sciences to Showcase its Next-Generation Bomb Explosive Detection Device to Government Officials and Manufacturers at Worldwide Aviation Conference.Business Editors WAKEFIELD, Mass.--(BUSINESS WIRE)--Nov. 7, 2003 Implant Sciences Corporation (AMEX AMEX See: American Stock Exchange "IMX IMX In My eXperience IMX Interactive Music Exchange (TV show) IMX Integrated Multimedia Exchange IMX Industrywide Mortgage Exchange IMX Intermodal Marketing Extension IMX Inverse Multiplexor ") will demonstrate its bomb explosive detection device, the Quantum Sniffer Explosive Trace Detector, to government officials and commercial manufacturers at a worldwide conference and exhibition, AVSEC AVSEC Aviation Security WORLD 2003, in Athens, Greece from November 18-20, 2003. This annual conference attracts a broadly based audience of senior aviation security professionals from the world's airlines, governments, airport authorities, law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). and equipment manufacturers. The conference is a joint event produced by a consortium of Airports Council International (ACI) European Civil Aviation Conference The European Civil Aviation Conference (ECAC) or ConfĂ©rence EuropĂ©enne de l'Aviation Civile (CEAC) is an international organization with close ties to the United Nations, the International Civil Aviation Organization, the Council of Europe and the institutions (ECAC ECAC Eastern College Athletic Conference ECAC European Civil Aviation Conference ECAC Exceptional Children's Assistance Center (Davidson, NC, USA) ECAC Electromagnetic Compatibility Analysis Center ECAC Estimated Cost At Completion ) and the International Air Transport Association (IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. ) in cooperation with the International Civil Aviation Organization International Civil Aviation Organization (ICAO), specialized agency of the United Nations, organized in 1947, with headquarters at Montreal. The objective of the ICAO, which has 187 member nations, is to encourage the orderly growth of international civil aviation, (ICAO ICAO abbr. International Civil Aeronautics Organization Noun 1. ICAO - the United Nations agency concerned with civil aviation International Civil Aviation Organization ). The exhibition features "state of the art" technology and provides officials from all over the world in the commercial and government sectors a look at next-generation technology designed to enhance security at airports and other aviation facilities. Dr. Anthony J. Armini, President and 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. of Implant Sciences, stated, "We welcome the opportunity to demonstrate our innovative, next generation explosive detector to security professionals from all parts of the world. The interactive atmosphere of the symposium and exhibit will insure that the high level participants will have an opportunity to see Implant Sciences' Quantum Sniffer trace explosive detector device in action. Our device resolves many limitations of currently available trace detectors and we anticipate considerable interest from this global community." Implant Sciences' Quantum Sniffer has already undergone a rigorous scientific review by the U.S. Navy and the Department of Homeland Security's Transportation Security Administration (TSA TSA See tax-sheltered annuity (TSA). ). Both government agencies have given the Company grants to continue various development efforts. The U.S. Navy has already field tested three prototypes of the Company's trace explosive detection device with favorable results. The Quantum Sniffer has successfully detected trace explosives vapors, such as C-4, SEMTEX, TNT TNT: see trinitrotoluene. TNT in full trinitrotoluene Pale yellow, solid organic compound made by adding nitrate (−NO2) groups to toluene. , EGDN EGDN Ethylene Glycol Dinitrate (explosive) EGDN European Global Defence Network and DNT, measured in concentrations of parts-per-trillion. The Company believes its technology is superior to existing bomb explosive detection devices because of its ease of use and ability to detect concentrations of explosives material in parts-per-trillion. The TSA selected Implant Sciences for the development and commercialization of a next generation trace explosives detection system for airports across America. In addition to deploying thousands of desktop Explosive Trace Detectors (ETDs) in America's airports, TSA is now responsible for all transportation security including ports, trains and buses, and intermodal cargo. In addition, the Company intends to market the Quantum Sniffer on a global basis. The Company's portable trace explosive detection unit will sell for approximately $30,000 and the desktop for approximately $45,000. The total market for explosives detection systems in the United States alone is estimated to be in excess of $1.9 billion. Furthermore, Equity International, the leading provider of information on homeland security, indicates the domestic spending for Homeland Security (federal, state, local) is projected to rise to $55.9 billion during 2004 and to 56.8 billion in 2005. Global spending by governments on Homeland Security will rise to $562 billion in 2004 and to $572 billion in 2005. About Implant Sciences Implant Sciences, incorporated in 1984, is using its core ion technology to develop, manufacture and market products for national security, industry, and medicine. Under development is a portable trace explosives detection device to identify explosives, narcotics and other toxic materials. Implant has received development grants from the US Army, Navy, and Air Force, and, signed a cooperative R&D agreement with the Transportation Security Administration, which facilitates equipment evaluation and new government contracts. Using its proprietary ion implantation and thin film coating technologies, Implant also manufactures and markets radioactive and non-radioactive products for medical use. Implant derives revenues from its radioactive seeds for treating prostate cancer that are distributed throughout the US by its direct sales force. Implant is also developing brachytherapy products for the treatment of breast, eye, and other cancers. Additionally, Implant modifies the surface characteristics of orthopedic joint implants to reduce polyethylene wear, thereby increasing the life of the implants. This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of 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. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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