PositiveID Publishes Updated Report on Its BioThreat Detection and Diagnostics Solutions and Market Opportunities
June 30 2014 - 7:00AM
PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a
developer of biological detection and diagnostics solutions, today
published an updated report on its 2014 progress and future market
opportunities for its homeland security and medical diagnostics
technologies.
"There is a pervasive, global need for advanced biological
detection capabilities, where time to detection is critical to stop
a biological attack in its tracks," stated William J. Caragol,
PositiveID's Chairman and CEO. "As evidenced by our current
relationships with large commercial and government partners, we
believe our M-BAND and Firefly Dx systems offer significant
benefits over existing products, including faster, more accurate
detection, at a lower cost. The Company is generating revenue for
the first time since its formation, and we have issued revenue
guidance through the end of 2015 of $4-10 million (2014 and 2015
combined), $3.3 million of which is currently in backlog."
A copy of the report is available on PositiveID's website at
http://www.positiveidcorp.com/files/PositiveID_Market_Opportunities_Report_2014-06-30.pdf.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and
developer of biological detection systems for America's homeland
defense industry as well as rapid biological testing. PositiveID is
focused on the development of microfluidic systems for the
automated preparation of and performance of biological assays in
order to detect biological threats at high-value locations, as well
as analyze samples in a medical environment. For more information
on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including,
without limitation, the likelihood that the Company's M-BAND and
Firefly Dx systems offer significant benefits over existing
products, including faster, more accurate detection, at a lower
cost; the likelihood that the Company will generate revenue through
the end of 2015 of $4-10 million (2014 and 2015 combined), $3.3
million of which is currently in backlog; and all statements in
this press release constitute "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934, and as that term is
defined in the Private Litigation Reform Act of 1995. Such
forward-looking statements involve risks and uncertainties and are
subject to change at any time, and PositiveID's actual results
could differ materially from expected results. These risks and
uncertainties include, without limitation, the Company's ability to
target the bio-threat detection and rapid medical testing sectors;
as well as other risks. Additional information about these and
other factors that could affect the Company's business is set forth
in the Company's various filings with the Securities and Exchange
Commission, including those set forth in the Company's 10-K filed
on April 11, 2014, and 10-Qs filed on May 20, 2014, November 19,
2013, and August 14, 2013, as amended August 19, 2013, under the
caption "Risk Factors." The Company undertakes no obligation to
update or release any revisions to these forward-looking statements
to reflect events or circumstances after the date of this statement
or to reflect the occurrence of unanticipated events, except as
required by law.
CONTACT: PositiveID Corporation
Allison Tomek
561-805-8000
atomek@positiveidcorp.com