Last week was a pivotal one for Implant Sciences (OTCQB:IMSC), as a slewof impressive new hires validated the fact that the company's Quantum Sniffer (QS) explosive trace detection (ETD) technology may be on the verge of receiving a key qualification approval form the U.S. Transportation Security Administration (TSA) that would vault Implant to the forefront of the homeland security industry.
Investors considered the impact that such an approval from the TSA would have on the small and lightly-traded Implant Sciences and started buying shares in droves, which also might have compelled the shorts - which were slowly increasing their positions as well - to start covering.
The buying frenzy was highlighted by a day of a million shares traded last Wednesday and volume picked up all around the board for IMSC.
This week opened up just as strong, if not stronger, as yet another notable new addition joined the ranks of the Implant Sciences advisory board, as announced on Monday morning. This time it was Mr. Robert J. Franks who became a strong believer in the QS technology. Mr. Franks is a highly regarded security expert and is a 26 year veteran of the U.S. State Department where he served as an Assistant Director of the Diplomatic Security Service and with the US Mission to the United Nations.
He also has ties to many of the "senior-most decision makers at numerous U.S. and international security organizations," which could be a boon for Implant Sciences as the company looks to embed its technology in defense infrastructures world wide, should the TSA approval come to fruition in August, as expected.
Mr. Franks is also a recognized security expert in regards to private industry, as "he once served as Director of Corporate Security at Time, Inc., where he was responsible for the company's corporate security program." The threat of terrorist strikes against private industry is growing, too, and Implant now has another foot in door to bring its products to use in the protection of private infrastructure, as well as public.
Of the addition of Mr. Franks to the Implant advisory board, President and CEO, Glenn D. Bolduc, noted that,
Robert has a keen understanding of the clear benefits our Quantum Sniffers offer in multi-layered security environments for both government and corporate security environments. His long-standing relationships with senior staff in federal law enforcement and security personnel at organizations, including the U.S. Department of State, the U.S. Secret Service, and the Department of Homeland Security's Critical Infrastructure, will open doors for the Company.
The influx of buying and quick short covering could launch IMSC even higher in short time. Shares were up another five percent during the first hour of trading on Tuesday on volume already hitting twice the daily norm during that period.
The stars are aligning for Implant Sciences.
An expected August approval would solidify the company's position to enable security officials to meet the December 3rd TSA mandate all air cargo on US-bound passenger airlines be screened for explosives.
Given that Implant's is the only technology on the market that can complete the task using NO radioactive materials, the company has an automatic leg up in the industry and could quickly see a high demand of orders once the TSA approval is in the bag.
With volume and shares moving higher with authority, not one to let slip through cracks. Keep an eye on this one as the company could still be on the ground floor of booming growth.
Disclosure: I am long OTCQB:IMSC.