WILMINGTON, MA -- (Marketwire) -- 05/03/12 -- Implant Sciences Corporation (OTCQB: IMSC) (PINKSHEETS: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced an amendment to extend and complete its contract with the Government of India for the sale of approximately $6 million worth of its Quantum Sniffer QS-H150 handheld explosives detectors and associated support. The contract was originally awarded to Implant Sciences on January 14, 2010. As amended, the period of performance for the contract is extended to January 13, 2013.
Per the amended contract, the Government of India is to purchase $6 million worth of QS-H150s and associated support over the coming nine months. The QS-H150s are for use by the Indian Ministry of Defense in Force Protection and Public Safety applications.
"With this extension, we look forward to fulfilling and completing the contract with the Government of India. This is a significant contract both in terms of size and in its impact on global security," stated Glenn D. Bolduc, President and CEO of Implant Sciences. "We look forward to completing delivery on this contract, as well as pursuing follow on opportunities in India."
About the Quantum Sniffer QS-H150
The QS-H150 is a handheld explosives trace detector that uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, and homemade explosives. The QS-H150 uses no radioactive materials and features a low-maintenance design that is self-calibrating and self-clearing, providing very high levels of operational availability.
About the Quantum Sniffer QS-B220
The QS-B220, introduced in May 2011, is a benchtop explosives and narcotics trace detector that uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, and homemade explosives, plus narcotic substances. The QS-B220 continues the Implant Sciences tradition of freedom from radioactive materials, low total cost of ownership, and high operational availability.
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive and narcotics 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 the Company's QS-B220 benchtop explosives and narcotics trace detector has received 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). 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 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; the risks that our markets are subject to technological change and that our success depends on our ability to develop and introduce new products; that our success depends on our ability to obtain new patents and operate without infringing on the proprietary rights of others; that we may not obtain the patents we have applied for; that the validity and breadth of claims in technology patents involve complex legal and factual questions and, therefore, may be highly uncertain; that any patents we may obtain may be may be challenged and subsequently invalidated, that we may incur substantial costs in asserting our patent rights; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including its 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.
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Implant Sciences Corporation