New York, NY - June 16, 2014 (Investorideas.com Newswire)
Investorideas.com, a leader in research for independent investors
presents an exclusive Q&A interview with Mr. William J. Caragol,
Chairman and Chief Executive Officer of PositiveID Corporation (OTCBB:
PSID), a developer of biological detection and diagnostics solutions.
Mr. Caragol discusses the current status and opportunities for its
bio-threat detection technology and recently announced revenue guidance.
Q: Investorideas.com
On
May 27 th you released a corporate update on your contracts for M-BAND
and Firefly technologies. Can you give investors the highlights?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
We
are very proud of what we have achieved so far in 2014. Our major
accomplishments include forming significant partnerships with commercial
and federal government organizations, and importantly, revenue
generation. In summary, we entered into a contract with a large
commercial partner to support a U.S. Department of Defense (“DoD”)
contract and test our M-BAND system, which will provide revenue to the
Company of $841,000 through September; we announced one of our teaming
partners was awarded a prime contract by the U.S. Defense Threat
Reduction Agency to conduct research and development to combat weapons
of mass destruction; and, more recently, we signed a Space Act Agreement
with NASA’s Ames Research Center through which NASA will assess our
Firefly technology for potential ground and space applications. When you
look back at our releases, the commercial and government partners we
are working with are a true “who’s who” in the fields of security and
detection.
Q: Investorideas.com
At this point do you see more
interest in your M-BAND or Firefly Technologies for contracts and
revenue streams and can you give some insight as to why?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
We
continue to see interest in both M-BAND and Firefly. M-BAND, which
stands for Microfluidic Bio-agent Autonomous Networked Detector, has
more of a targeted, albeit significant, opportunity through anticipated
multi-billion dollar government programs to detect airborne biological
weapons of mass destruction. On the other hand, we believe Firefly, our
point-of-need, handheld, molecular diagnostic device, will be able to be
used in a multitude of industries, including military/government
applications, healthcare and even agricultural applications. As you
might expect, these are very large markets as well.
Q: Investorideas.com
Your
latest press release on June 11th announced your first ever revenue
guidance of $4-10 million. You also stated that $3.3 million is
backlogged. This is obviously a transitional period for the company in
several ways. Are you starting to see a perception change from the
financial community?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
I
think we are. We are seeing more interest from strategic partners who
see the potential of our products and the markets we are pursuing. The
fact that we are generating revenue from a large commercial partner
under a government contract and technology license is also noteworthy.
We have the ability to execute, our technology and IP portfolio is
strong, and we believe we have the partners in place to win major
contracts.
Q: Investorideas.com
As a small company receiving
contracts from large government agencies including U.S. Department of
Defense, U.S. Department of Homeland Security, and Department of Health
and Human Services do you attribute your success to the technology or
your partnering or both?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
I
think our partners are a direct reflection of the quality and
differentiators of our technology and the strength and experience of our
management team. We are very gratified by the partnerships we’ve
established and believe they provide an important validation of what
PositiveID has to offer.
Q: Investorideas.com
In May you announced
signing a Space Act Agreement with NASA's Ames Research Center to
collaborate on testing the Company's Firefly Dx detection system
("Firefly") as a platform for biological research and commercial
development for ground and space applications. Can you give our readers
the significance of this collaboration and what it means moving forward?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
When
an organization with the respect and recognition that NASA has earned
wants to work with you and further the development of your technology to
see how it may help them in their specific endeavors, it is
significant. As we pursue opportunities with other government and
commercial entities, having a group like NASA standing by our side makes
people take notice. Having third-party support, especially when it
comes from a group of world-class scientists, is very important for a
small company like PositiveID.
Q: Investorideas.com
In closing, it
seems like the company and technology are gaining momentum and traction
from some very high profile institutions and agencies; do you think
that is a reflection of a renewed sense of urgency to address
bio-threats or is it a matter of going through the system and reaping
the long term rewards?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
Unfortunately,
we’ve witnessed global events that underscore the danger posed by
biological weapons of mass destruction. That said, there definitely is a
heightened focus on the need for bio-threat detection, and a pick-up in
government procurements for these technologies. At the same time,
however, it’s not simply a matter of being in the right place at the
right time. We have worked diligently to create the necessary
partnerships to successfully capture the opportunities ahead of us.
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 and analyze
biological samples. For more information on PositiveID, please visit
http://www.PositiveIDCorp.com .
Contact
PSID:
Allison Tomek
561-805-8000
atomek@positiveidcorp.com
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Statements about
PositiveID's future expectations, including without limitation, the
likelihood that PositiveID will generate revenue of $4-10 million over
the next 18 months, $3.3 million of which is already in backlog; the
likelihood that Firefly will be able to be used in a multitude of
industries, including military/government applications, healthcare and
even agricultural applications; the likelihood that PositiveID has the
partners in place to win major contracts; the likelihood that PositiveID
has created the necessary partnerships to successfully capture the
opportunities ahead of it; 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, including the likelihood
that PositiveID will be successful with its submissions for bids and
proposals in conjunction with several large commercial partners in
response to a pick-up in new U.S. government procurements for bio-threat
detection, and are subject to change at any time, and PositiveID's
actual results could differ materially from expected results. 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.
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