Isonics Completes Sale of Life Sciences Division.Company To Record Gain on Sale GOLDEN, Colo. -- Isonics Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ISON), a provider of innovative solutions for the homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and semiconductor markets, announced today that it has completed the sale of its Life Sciences division for gross proceeds of $850,000 (net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $700,000 after retirement of related debt and expenses of the sale) and expects to record a gain on the transaction. The sale of this division is part of Isonics' plan to achieve operating profitability by focusing on its core businesses. "The completion of this previously announced transaction will allow us to deploy additional capital in our Semiconductor and Homeland Security and Defense divisions and allow management to devote its full attention to growing these two businesses," said Christopher Toffales, Chairman of Isonics. "We remain focused on executing on our recently announced business model which is targeted at generating higher-margin business. The sale of the Life Sciences division is consistent with this objective." About Isonics Corporation Isonics Corporation is an advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, and technology company focused on the development and provision of homeland security products and services and provides 300-millimeter products and services, wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. thinning and silicon-on-insulator wafers wafers compressed roughage in flat plates useful for feeding to animals in transit. for the semiconductor industry. Additional information may be obtained at the Company's Web site at www.isonics.com. Except for historical information contained herein, this document contains 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. within the meaning 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. These statements involve estimates, assumptions, known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB for the year ended April 30, 2006 and reports subsequently filed with the Securities and Exchange Commission, which include the Company's historical cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in these filings with the Securities and Exchange Commission. |
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