Implant Sciences Corporation (OTCQB: IMSC), a leading manufacturer of explosives trace detection (ETD) solutions for Department of Homeland Security (DHS) applications, today announced that it has shipped $1.3 million of its QS-B220 desktop explosives and drugs trace detectors and QS-H150 handheld explosives trace detectors to customers worldwide since the beginning of 2016. The previously unannounced shipments were made over the past six weeks are scheduled to be deployed for applications such as aviation security, critical infrastructure protection, and cargo security.
"Our products continue to be selected as the trace detection technology of choice throughout the world and I am very pleased that we are making significant progress in non-aviation markets," stated Dr. Darryl Jones, Implant Sciences' Executive Vice President. "We are executing solidly on our revenue generation plan for our fiscal year 2016, having achieved unprecedented growth of 670% in in our first quarter ended September 30, 2015 as compared to the previous year, followed by a robust second quarter ended December 31, 2015, with a 381% year-over-year increase."
Commenting on Implant Sciences' ongoing strategic plans, Bob Liscouski, President of Implant Sciences, stated, "Even as we are pleased with our significant revenue growth, as our CEO Dr. McGann stated on last week's earnings call, we are also pursuing a number of strategic initiatives to drive greater shareholder value and we are working closely with our lenders to restructure our credit instruments for the benefit of the company. We have received a number of shareholder inquiries as to why our board and management team members are not purchasing our stock in support of the company. Due to our ongoing and progressing strategic initiatives, our directors and officers are unable to purchase any company stock at this time so that we may be in full compliance with all SEC regulations. That said, we are taking this opportunity to reaffirm to our shareholders that our board and management have the utmost confidence in our company and its performance."
Source: Implant Sciences Corporation
Date: Feb 18, 2016