Secretary of the United States Navy Watches Implant Sciences Quantum Sniffer Successfully Detect Explosives in Live Demonstration.Business Editors WAKEFIELD, Mass.--(BUSINESS WIRE)--Dec. 17, 2003 Demonstration Held in Washington D.C. on December 12, 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 " and "IMX.WS") demonstrated its 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. device, the Quantum Sniffer Explosive Trace Detector, to the Secretary of the Navy and two Marine Corps Generals in Washington, D.C. on Friday, December 12, 2003. In the demonstration, the Quantum Sniffer was independently operated by Navy personnel and detected minute traces of explosive samples in operational scenarios, such as on vehicles and parcels. The demonstration was organized to highlight various projects that are in development and can soon be deployed to provide additional levels of security for armed forces and military installations, especially in Iraq and the Middle East. The Company believes that its device is under consideration for deployment in the Middle East to help protect our troops and civilians from suicide bombers. The U.S. Navy, which already provided the Company with approximately $600,000 in funding for the development of a portable, hand-held explosives detection device, has already field tested prototypes with favorable results. The Quantum Sniffer has detected trace explosives residues, measured in concentrations of parts per trillion, using its vapor detection technology. Explosives detected included 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 DNT Document & Network Technologies DNT Dinitrotoluene DNT Dynamic Network Technologies DNT Do Not Type DNT Dodonu Ni Taukei Party (Fiji political party) DNT Do Not Touch DNT Dialed Number Trigger DNT Do Not Translate . 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 Transportation Security Administration ("TSA TSA See tax-sheltered annuity (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 units will be competitively priced. The total market for explosives detection systems in the United States alone is estimated to be in excess of $1.9 billion. This demonstration is the latest in a series of functional demonstrations requested by various government organizations to view first-hand the unique capability of the Quantum Sniffer. 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 are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the continued interest in our explosives detector - Quantum Sniffer - and are committed to continuing the commercialization of this 'next generation' trace explosives detector. Our device resolves many limitations of currently available trace explosives detectors and when deployed will offer an advanced level of security for our Armed Forces and for Homeland Security." 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 narcotics n. 1) techinically, drugs which dull the senses. 2) a popular generic term for drugs which cannot be legally possessed, sold, or transported except for medicinal uses for which a physician or dentist's prescription is required. and other toxic materials. Implant has received development grants from the U.S. 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 prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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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