WILMINGTON, Mass., Nov. 26, 2014 /PRNewswire/ -- Implant
Sciences Corporation (OTCQB: IMSC), a leading manufacturer of
explosives trace detection (ETD) and drugs trace detection
solutions for homeland security applications, announced today that
it has received notification that a bid protest has been filed with
the Government Accountability Office (GAO) regarding the company's
recent ETD award under Solicitation HTHS04-14-R-CT2050.
Implant Sciences Vice President of Global Sales and Marketing,
Dr. Darryl Jones, explains,
"Protests are a normal part of the government bidding process. In
FY2014, there were approximately 2,500 protests filed with the GAO.
We are confident that our award will be upheld and that we will be
able to ship a significant number of these system in our current
fiscal year."
About Implant Sciences
Implant Sciences is a leader in developing and manufacturing
advanced detection capabilities to counter and eliminate the
ever-evolving threats from explosives and drugs. The Company's team
of dedicated trace detection experts has developed proprietary
technologies used in its commercial products, thousands of which
have been sold across more than 50 countries worldwide. Implant
Sciences is only the third manufacturer, and the sole
American-owned company, to currently have an ETD system named as a
Qualified Product by the US Transportation Security Administration.
The Company's ETDs have received approvals and certifications from
several international regulatory agencies including the TSA in the
U.S., ECAC in Europe, STAC in
France, the German Ministry of the
Interior, and the Ministry of Public Safety in China. It also received a GSN 2013 Homeland
Security Award for "Best Explosives Detection Solution". All
Implant Sciences products are recognized as Qualified
Anti-Terrorism Technologies by the Department of Homeland Security.
For further details on the Company and its products, please visit
the Company's website at 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
we will be required to repay all of our indebtedness to our secured
lenders by March 31, 2015; if we are
unable to satisfy these obligations and to raise additional capital
to fund operations, our lenders may seize our assets and our
business may fail; we continue to incur substantial operating
losses and may never be profitable; our independent registered
public accounting firm has expressed substantial doubt as to our
ability to continue as a going concern; there is no guaranty that
U.S. or foreign governments, law enforcement agencies or commercial
consumers will purchase any of our explosives detection products or
that any new products we may develop will be accepted by the
Transportation Security Administration or by such other
governments, agencies or consumers; economic, political and other
risks associated with international sales and operations could
adversely affect our sales; liability claims related to our
products or our handling of hazardous materials could damage our
reputation and have a material adverse effect on our financial
results; our business is subject to intense competition; our
markets are subject to rapid technology change and our success will
depend on our ability to develop and introduce new products; we may
not be able to retain our management and key employees or identify,
hire and retain additional personnel as needed; we may not be able
to enforce our patent and other intellectual property rights or
operate without infringing on the proprietary rights of others: 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
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SOURCE Implant Sciences Corporation