E-N-G Mobile Systems Receives $1 Million Purchase Order for Technical Vehicle E-N-G has provided a diverse line of highly
March 20 2018 - 10:06AM
InvestorsHub NewsWire
E-N-G Mobile Systems Receives
$1 Million Purchase Order for Technical Vehicle
E-N-G has
provided a diverse line of
highly specialized vehicles for over 40 years
DELRAY
BEACH, FL -- March
20,
2018 -- InvestorsHub
NewsWire -- PositiveID
Corporation ("PositiveID" or "Company") (USOTC:
PSID), a life sciences company focused on detection and
diagnostics, announced today that E-N-G
Mobile Systems ("ENG"),
a mobile laboratory and specialty vehicle manufacturer, has
received a purchase order for a highly technical
vehicle totaling
approximately $1 million. Due to the nature of the
vehicle,
the customer is being kept confidential.
Building on its
past achievements, ENG has become a leader in products for the
diverse mobile technology marketplace. The fastest growing
segment of ENG's business over the last decade is mobile labs,
which include government and corporate laboratories for
environmental, chemical, biological, nuclear, radiological and
explosives testing in the field. In total,
ENG has
delivered more than 1,500 technical vehicle
systems since its inception. In addition to
mobile labs,
these include
communications/command centers, broadcast news vehicles, radio
frequency monitoring, infrared monitoring and video communications
vehicle systems, plus a wide range of mobile systems for emergency
preparedness and threat response.
"By
drawing on our
vast
expertise of building labs and other
technical vehicles over the last 40 years, ENG
has
earned
a
reputation
for
innovation, reliability and creativity," stated Lyle L.
Probst, President of ENG.
"This
is a
highly technical
order
for an
advanced unit,
and we are proud that ENG was chosen by this unique
customer
to address their specialized needs."
PositiveID
holds a
significant equity interest in E-N-G (the Company currently
owns 24% of
the
capital stock of ENG).
On June
12, 2017, PositiveID
sold
49%
of its
ownership in ENG,
bringing its ownership to 51%. On January 30,
2018, ENG sold shares of
its preferred stock, which reduced
the
Company's
ownership
to 24%
and
resulted
in the deconsolidation
of a significant amount of the Company's assets.
The terms
of the
transactions were disclosed in
Forms 8-K filed by the
Company with the Securities
and Exchange Commission.
About PositiveID
Corporation
PositiveID
Corporation is a holding company
focused on life sciences tools
and diagnostics. Through its
ExcitePCR
subsidiary, the
Company
specializes
in the
development of microfluidic systems for the automated preparation
of and performance of biological assays. Through its
Thermomedics subsidiary, the Company
markets
the Caregiver non-contact infrared thermometer. PositiveID
also
owns an
interest in E-N-G Mobile Systems,
a specialty vehicle
manufacturer focused
on
the mobile
laboratory market.
For more information on PositiveID, please visit http://www.psidcorp.com, or connect with
PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID's
future expectations 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
raise capital; 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 March 31, 2017, and 10-Qs filed on November 13, 2017,
August 14, 2017, and May 15, 2017, 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)
805-8044
atomek@psidcorp.com