WILMINGTON, Mass., April 4, 2014 /PRNewswire/ -- Implant
Sciences Corporation (OTCQB:IMSC), a high technology supplier of
systems and sensors for homeland security and defense markets,
today announced that John Hassett has been elected to the Company's
Board of Directors. Mr. Hassett is currently Managing Principal and
President of Little Harbor Advisors LLC, a SEC registered private
equity and hedge fund advisor. He has over 12 years' experience in
the investment management business. Mr. Hassett becomes Implant
Sciences' seventh director.
Mr. Hassett is a serial entrepreneur and inventor who has built
and sold several high-tech startups including Multilink, AT/Comm
and Vialog. Multilink introduced the first full-duplex conferencing
bridge in 1983, paving the way for the emergence of conference
calling as a business norm today. Multilink was acquired by
PictureTel Corporation to form what was then the largest
teleconferencing systems company in the world. AT/Comm pioneered
the use of microwave technology for electronic tolls. Mr. Hassett
holds seven important patents in microwave systems for this area.
The firm and technology were acquired by a then division of
Scientific Applications International Corporation in 1997,
consolidating the industry and later establishing EZ-Pass and other
interstate electronic toll systems.
In 1997, Mr. Hassett led the consolidation of nine privately
owned conference services companies to form Vialog Corporation,
which went public in 1999 and was acquired by a French firm in
2002. Vialog became the subject of a Harvard
Business School case, based on its unique financing and the
successful integration of so many companies in such a short period.
Mr. Hassett is responsible for numerous licensing agreements,
M&A transactions, private and public equity and debt financing,
and business restructurings, and has in-depth experience in
corporate finance, business integration, and strategic planning. In
2004, Mr. Hassett co-founded Tuckerbrook Alternative Investments,
LP, which pioneered the development of investible composite
structures for hedge funds, including the Tuckerbrook Short Alpha
Composite, and he remains its managing member.
"We are honored to welcome John to our board. He brings key
expertise to our Company at a pivotal time in our growth. John has
an admirable track record of building several profitable high tech
companies. He uniquely combines deep experience in technology
development, business operations, and financing methods and
structures that can be of substantial value to Implant Sciences,"
stated Implant Sciences CEO Glenn
Bolduc.
John Hassett commented, "I have
been impressed with Implant Sciences' management team's tenacity in
their pursuit of innovation in this important area of defense, and
believe that the technology they are bringing forward may be a
game-changer in terms of effectiveness, cost, and
flexibility. I am thrilled to be part of this endeavor."
About Implant Sciences
Implant Sciences is the leader in next generation
Explosives Trace Detection (ETD) technology. In January 2013,
the Company became only the third ETD manufacturer, and the sole
American-owned company, to have product approval from the US
Transportation Security Administration. Implant
Sciences has developed proprietary technologies used in its
commercial explosives and drugs trace detection systems, which ship
to a growing number of locations domestically and
internationally. Implant Sciences' QS-H150 portable
explosives trace detector has received Qualified Anti-Terrorism
Technology Designation and, in addition to receiving TSA
qualification for air cargo screening, the Company's QS-B220 has
also received STAC certification, a Developmental Testing &
Evaluation (DT&E) Designation by the U.S. Department of
Homeland Security under the Support Anti-terrorism by
Fostering Effective Technology Act of 2002 (the SAFETY Act),
and the GSN 2013 Homeland Security Award for "Best Explosives
Detection Solution". For further details on the Company and its
products, please visit the Company's website
at http://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 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
our explosives detection products and technologies (including any
new products we may develop) may not be accepted by the
Transportation Security Administration or by other U.S. or foreign
government and law enforcement agencies or commercial consumers of
security products; economic, political and other risks associated
with international sales and operations could adversely affect our
sales; our business is subject to intense competition and rapid
technological change, and our success will depend on our ability to
develop and introduce new products; and other risks and
uncertainties described in our filings with the Securities and
Exchange Commission, including our 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.
Contact:
Implant Sciences Corporation
Company Contact:
Glenn Bolduc, CEO
978-752-1700
or
Investor Contact:
Laurel Moody
646-810-0608
SOURCE Implant Sciences Corporation