Recently, I conducted an interview with Glenn Bolduc, CEO of Implant Sciences (IMSC.PK). IMSC manufactures explosive trace detection (ETD) equipment for use by security personnel. In my interview, Mr. Bolduc explained IMSC's competitive advantages, its market opportunities, and liquidity position. What follows is a lightly edited version of the interview I conducted with Mr. Bolduc.

Daniel Lauchheimer (DL) -- A lot of people know about, and have experienced bulk detection -- metal detectors, X-Ray scanners -- but ETD seems a bit more abstract. Could you bring the subject a bit more down to earth. When would a normal person come into contact with an ETD device?

Glenn Bolduc (GB) -- Many people have come in contact with an ETD device but they didn't realize. For example, when a security agent asks you to take your laptop out of the bag, they ask you to do this so your

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Markets nervously await the FOMC. U.S. stock futures were higher and European shares mixed at the time of writing as investors awaited the outcome of the FOMC's two day policy meeting, which is due to start today. All the focus is on whether the Fed will announce the winding down of its bond-buying program. Yesterday, U.S. shares fell on FT speculation that the taper was drawing near, only for them to recover after reporter Robin Harding cast doubt on his own predictions.

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Throughout my years of investing, I have tried to avoid the temptation of investing in "the next big thing." Trying to find the next Apple (AAPL) or Microsoft (MSFT) is often a sucker's bet. For every success story you hear, there are thousands more that end in tears, not necessarily because the concept was poor, but because it takes an incredible amount of luck, skill, and timing to hit it big. We're constantly reminded about companies like Google (GOOG), whose humble beginnings started in a garage in Palo Alto, or high-school dropouts who start billion dollar airlines or record labels. Unfortunately, those are the exceptions and not the rule. They are the Hope Diamonds of business success and trying to find and invest in these companies will cause you to lose a lot of money- and hair.

However, sometimes you come across companies where the stars appear to be aligning

Editors' Note: This article covers micro-cap stocks. Please be aware of the risks associated with these stocks.

Okay, here’s the promoted stock scoreboard:

F3Q 2013 Earnings Call

May 10, 2013, 01:00 PM ET

Executives

Roger Deschenes - CFO

Glenn Bolduc - President & CEO

Bill McGann - COO

Darryl Jones - VP, Global Sales & Marketing

Analysts

Mark Jordan - Noble Financial

Presentation

Operator

Good day ladies and gentlemen and welcome the Third Quarter 2013 Implant Sciences Earnings Conference call. My name is Derek and I'll be your operator for today. At this time, all participants are in a listen-only mode. We shall facilitate a question-and-answer session at the end of the conference. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the conference over to Mr. Roger Deschenes, Chief Financial Officer. Please proceed.

Roger Deschenes

Thank you, Derek. I would like to welcome everyone to Implant Sciences’ third quarter fiscal 2013 earnings conference call. We also welcome those

Late last week, we got news that the Tsarnaev brothers, had they not been caught, planned to continue their attacks in New York City. What I find most frightening about this whole situation is that the Tsarnaev brothers largely taught themselves bomb making tactics from the internet. This got me thinking about how with all the world's knowledge at one's fingertips one could inflict many different types of terror on innocent civilians. Specifically, I think we need to focus on bio-terrorism and cyber-terrorism, both areas that could inflict major damage on our national economy and psyche.

In this article, I will examine these threats in more detail and try to find companies that can provide useful services to protect us from these threats. Of course, I don't mean to make light of this terrible situation by trying to figure out how to make a buck, but we need to

This week, we all experienced a national feeling of sadness over the terrorist attack at the Boston Marathon. We all have seen the horrible images of the cowardly attack, and have heard the heart wrenching stories about men, women, and children who have lost lives and limbs. Personally, I found myself remembering back to September 11th - sitting around the TV and anxiously watching the reports coming out of Boston.

Unfortunately, as we have learned this week, despite the advances made by governments to combat both foreign and domestic terrorism the threat still looms large. Deranged people have easy access to propaganda that spreads baseless hatred, and even more dangerous, have easy access to instructions, which give them the tools to act out on their hateful ideas.

From September 11th, and through today - with the rise of terrorist threats - governments have gotten more serious about how to defend

Update Conference Call

April 11, 2013 4:15 pm ET

Executives

Glenn D. Bolduc – President and Chief Executive Officer

Dr. Bill McGann – Chief Operating Officer

Dr. Darryl Jones – Vice President, Global Sales and Marketing

Analysts

Joseph Munda – Sidoti & Company

Daniel Small – Platinum Partners

Jason Lutsch – Advanced Auto Glass

Alan Shebesta – Regal Securities

Presentation

Operator

Good day ladies and gentlemen. Welcome to the Implant Sciences’ Update Conference Call. My name is Philip and I will be your operator for today. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the conference over to your host for today, Mr. Glenn Bolduc, Chief Executive Officer. Please proceed, sir.

Glenn D. Bolduc

Thank you very much

Tuesday proved a day of modest rebound for international markets, most of which were hammered on Monday on fears over the Cyprus bailout plan and how it could potentially hit the rest of Europe. Futures action indicate a similar open in the US as well. Investor caution has eased once the Cyprus bailout news was digested and the fiasco became more of a comedy show between Cypriot banks and Russian billionaires than anything else as markets stabilized, although initial concerns arose when some pundits wondered whether the savings tax proposed in Cyprus could also be implemented in other Western countries, but those concerns are largely considered unfounded because of existing regulatory measures in other eurozone (EZ) countries and also because of the unique relationships between Cypriot banks and its foreign investors, like Russia.

It's highly unlikely that any scenario evolving from the bailout of Cyprus will have any lasting effects

Another day, another DOW record. The boost provided by last week's encouraging jobs report looks to have carried over into the new trading week while it also looks like investors are continuing to brush off any negative effects that could come into play as a result of sequestration. Those predicted effects my never come into play anyway, given the fact that Washington has issued itself a new deadline to reach a budget agreement and our elected officials are talking to each other again - after cringing at the bad press both sides received as the last deadline expired.

Shares continue to inch higher, defying the odds and the predictions of most experts and analysts, but at some point investors should assume that "what goes up" has to pull back and consolidate, especially with the amount of uncertainty still existing on a global scale. The U.S. recovery looks solid, given

A new DOW record is in the books and world stocks were moving higher on Wednesday as a result. As mentioned earlier this week, we're at a serious pivot point now as to whether the markets can sustain these or whether a pullback will materialize based on the developments of other general conditions and geopolitical events. A positive private jobs report on Wednesday AM was key in determining the strength of the new record over the short term, but investors will now look towards the effects of sequestration and how budget cuts can have an impact over the coming weeks.

Most of the expected cuts that were regarded as a doomsday scenario by many politicians leading into the March 1 deadline, however, are not due to be implemented until the April time frame, according to the most recent reports from Washington. That allows more time for our elected officials

This week could be a pivotal one. Record market highs are well within sight and investors will look for evidence that last week's bullish momentum can continue into the new trading week, even as the effects of sequestration set in. Comments before Congress last week by Fed Chairman Ben Bernanke helped to reverse Monday's notable pullback and spark an overall move higher through the remainder of the week. All the while our politicians in Washington failed - yet again - to reach a budget deal that would stave off a harsh round of budget cuts that will end up slashing tens of billions of dollars from the federal budget over the coming quarters.

With the weekend under the belt and a few days for investors to digest the news and potential impacts of sequestration, we'll know fairly soon what the market makes of it all. Significant cuts in defense

The markets headed south on Wednesday as investors digested Fed comments, housing numbers and the potential negative impact on the economy that a political showdown in Washington could bring. Comments released from the Fed this week indicated that an easing of the stimulus measures that have been in place since the depths of the financial crisis may be forthcoming. As noted earlier this week, investors pretty much shrugged off similar comments in January, but a re-emphasis of those statements this week - coupled with the recent slowdown in housing numbers - caused enough concern among investors to spark the round of profit-taking that led to Wednesday's decline.

Budget negotiations in Washington also look to be at a standstill, another cause for alarm over the short term. Severe spending cuts could be in store come 1 March, should an agreement not be reached in D.C. As the politicians continue

After much time and effort, Implant Sciences (IMSC.PK) has successfully procured the most significant milestone in the company's existence. Shareholders and management have long anticipated a favorable outcome, but the Transportation Security Administration's (TSA) stamp of approval brings certitude to the use of Implant's explosive trace detection (ETD) technology in air cargo screening applications - and gives legs to a paramount market. Since jettisoning its semiconductor and medical businesses in 2007 and 2008, Implant has shifted its full focus to the development and commercialization of explosive trace detection, devices designed to pick up and alert security personnel to minute amounts of explosives or narcotics; think bomb-sniffing dogs but without the extensive oversight required by a K-9 unit. It's 2nd-generation technology, and Implant, with its small market capitalization and advanced, integrate-able technology, makes for a compelling play in the security space.

Last month, the company announced that the Department of

Volatility is back. After a few weeks of stability and a methodical uptrend in the markets, this week brought us, so far, back-to-back one hundred point moves in the DOW as investors contemplated the probability of the markets sustaining levels at or near the record highs set before the crash of 2008-09. Big media started paying attention to Europe again, an eventuality we've discussed for a couple of weeks now, and as a result some of this week's volatility has been due to reports of the still-lagging economic recovery over on that side of the Atlantic. Moving forward, such concerns are still likely to play a role in the overall market action and spark some continued volatility, but for the immediate future, investors look to want to shake off the European worries and trade on the momentum of this quarter's earnings reports, which have been solid all season

Stocks ended the day slightly lower on Wednesday as reports hit the wires noting a retraction in the U.S. growth rate for the fourth calendar quarter of 2012. Analysts and experts had expected a one percent growth rate for the quarter, so the miss came as a bit of a surprise. The markets did not falter, however, and only modestly declined as the retraction came about largely due to a drop in federal defense spending, and not because of any other variables of weakness that would threaten the strength of the recovery.

In fact, other economic indicators behind the report looked strong, as outlined in a New York Times article on the subject. A stand-fast approach by the Fed, which concluded its meeting on Wednesday, also helped to reassure investors that no drastic changes to policies and procedures already in place are forthcoming. Barring any unforeseen news or

The DOW and S&P closed up by half a percentage point each on Tuesday while the Nasdaq traded flat as concerns of slowing U.S. growth during the fourth quarter of last year indicated a potential slowing growth rate for the first quarter of 2013, too. Reports also surfaced on Tuesday that consumer confidence dropped to its lowest level in over a year as consumers digested the fact that there's a little less spare cash available as the result of an increase in some tax rates this year. None of the above would justify any protracted broad market sell-off, in my opinion, but it emphasizes the fact that the consistent headlines of 'sunshine, rainbows and candy floss' that we've seen all year thus far are taking on a more cautionary and realistic tone, which will likely lead to some of the profit taking we discussed earlier in