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  • Implant Sciences: Sometimes Facts Lie [View article]
    I don't understand the TSA's report regarding Smiths 500DT. The report, dated May 15, 2013, clearly states that Smiths 500DT qualification ends January 1, 2014. However, a totally incomprehensive footnote apparently means that with certain modifications/updates, it is qualified after January 1. The fact is, the TSA provided a statement I quoted above that the 500DT is qualified after January 1, so that's what we need to go by.
    Aug 19 11:09 AM | Likes Like |Link to Comment
  • Implant Sciences: Sometimes Facts Lie [View article]
    Apparently Smiths 500DT ETD product IS qualified beyond January 1, 2014, with certain stipulations, meaning Implant is not "the only game in town" after that date. I say apparently because the TSA's website suggests otherwise as written. Be that as it may, here's what the TSA sent me when I asked about the Smiths product: "Select software and hardware for Smiths Detection Ionscan 500DT are qualified under the ACSTL and may be used past January 2014."
    Aug 15 09:17 PM | Likes Like |Link to Comment
  • Implant Sciences: Sometimes Facts Lie [View article]
    Also see the May 15, 2013 TSA report which confirms Implant as only approved ETD vendor (Page 7).
    Aug 12 01:24 PM | Likes Like |Link to Comment
  • Implant Sciences: Sometimes Facts Lie [View article]
    Wake up on the wrong side of the bed today Ms. Smiths?
    Having read the report, dated January 31, 2013, to which you refer, I am aware of the difference between a product that the TSA "approved" for ETD and one that is "qualified." A product achieving "qualified" status has been field tested; one that has been "approved" has not completed field testing. Purchasers can choose from either category, though doing so from the "approved" category is done "at their own risk." The main point of the article was that only Implant Sciences' B220 has been approved for ETD beyond January 1, 2014, according to the report we both cite. The report specifically says that Smiths (and Morpho's) products which at the moment are qualified will no longer be approved or qualified as of January 1. Meaning IMSC "could be the only game in town." Now it makes sense to think Smiths and Morpho are working to ensure their products are good beyond January 1, but as of today, 4 1/2 months from the end of the year, they aren't, and the process to achieve approved and/or qualified status is generally long and rigorous. In any event, Smiths has informed me that its 500DT ETD is good beyond January 1, and I am carefully reviewing the TSA website and working with the company to get verification.
    Aug 12 01:05 PM | Likes Like |Link to Comment
  • Implant Sciences: Sometimes Facts Lie [View article]
    The key word here is "current", as in Smiths meets TSA's "current screening requirements." It does NOT meet the rigorous new standards that become operative January 1, 2014. Smiths may have a plan to "schedule ... upgrades to software" in order to meet the new TSA standard, as the spokesperson for Smiths indicates here, but a plan is a plan is a plan. It ain't real until the TSA says it's real.
    Aug 7 09:09 PM | Likes Like |Link to Comment
  • Implant Sciences: Sometimes Facts Lie [View article]
    It's a security application. Many countries and companies do not wish to reveal what they are doing, excepting the Obama Administration of course. I suspect (with no first hand knowledge whatsoever) that it's Russia or one of the former soviet states. A long shot would be Brazil, which has many high profile, world-wide sports activities scheduled over the next couple of years. Whomever, it's not unusual to keep it quiet. I'm sure IMSC would like to reveal the customer, but isn't at liberty to do so. You are correct that the contract is quite large for a company IMSC's size. I believe it's the second largest order ever, the first being a $6+ million order from India.
    Aug 6 09:50 PM | Likes Like |Link to Comment
  • Implant Sciences: Sometimes Facts Lie [View article]
    Here's what I said about IMSC competitors, including GE, when responding to an article in June:
    ... you list many competitors, but most don't play in the same niche as IMSC. Thermo Fisher, Hitachi, etc. are not competitors. Yes, they are on TSA lists, but for applications different from IMSC's, which is, specifically, explosive trace detection (ETD). The TSA lists only Morpho, Smiths and Implant within the ETD space ... you make significant mention of GE, and infer it has some kind of relationship to Morpho, making one or the other (not clear which) as "the 800 pound gorilla." As you state, GE sold its ETD business to Morpho years ago, and as near as I can tell (and I could be wrong) has no substantive relationship to Morpho today. The 800 pound gorilla is more like a monkey. Also, as another reader pointed out, it was Bill McGann -- considered the "father of ETD" -- who sold his company to GE and is now COO of Implant. The man knows ETD and the competition better than anyone.
    In other words, GE is not a competitor.
    Aug 2 10:23 PM | 1 Like Like |Link to Comment
  • Why I'm Betting Big On Implant Sciences [View article]
    Jun 18 11:33 AM | Likes Like |Link to Comment
  • Why I'm Betting Big On Implant Sciences [View article]
    Yes, I was on the call and remember the hints. A buyout by Morpho or Smiths would, on the face of it, make sense. They've had the
    U. S. ETD market to themselves for many, many years. Their existing products will be decertified at the end of 2013, meaning they essentially have to be junked (at least in terms of U. S. government authorization). Will these competitors exit the market or develop replacement products for TSA certification? Replacement products can be developed in house ... OR, the company that has certified products can be bought. So a buy out is possible. Hopefully such a possibility won't be realized for some time, as IMSC has only been in the government-mandated niche for five months. It's too early from an investors' perspective. Mine at least. Sales announced over the past couple of weeks indicate we have just stared reaping the fruits of TSA certification. We need more sales to turbocharge the stock price and get the 500 percent return you mention, and that will take at least a year, maybe two.
    Jun 17 10:39 PM | 1 Like Like |Link to Comment
  • Why I'm Betting Big On Implant Sciences [View article]
    Ed, there is some confusion here. Sequestration has very little or no effect on IMSC's sales to cargo carriers. These are companies like FedEx, Air Atlanta, etc. And these are the companies which IMSC is focused on at the moment. Sequestration impacts government purchases, as I'm sure you know. However, IMSC is also looking to get approval from the TSA for passenger screening applications. They are in the process of doing so now, but it will be some months before they get a decision. These machines would be purchased by the TSA, so it's here that sequestration could have an effect.
    Jun 17 06:34 PM | 1 Like Like |Link to Comment
  • Why I'm Betting Big On Implant Sciences [View article]
    Suggesting ANY particular upside is truly just a shot in the dark at this point, this point being IMSC's formal entry into TSA-certified EDT five short months ago. However, given the undisputed fact that IMSC has the ONLY product certified by the TSA for U. S. government-mandated EDT cargo screening, we should also consider a possible buyout, at a significant premium. So there are two paths the company could take: dramatic revenue/profit increases or a buy out. Of course there is a third: it could go bust. But given the momentum that's clearly building, that is the least probable of alternatives.
    Jun 17 06:26 PM | 1 Like Like |Link to Comment
  • Why I'm Betting Big On Implant Sciences [View article]
    They could and they do. They hardly do any manufacturing in house.
    Jun 17 06:13 PM | Likes Like |Link to Comment
  • Why Implant Sciences Reminds Me Of Celgene's Oft-Forgotten Humble Beginnings [View article]
    As an IMSC long, the article is quite a stretch. One could take any company whose stock has risen dramatically from the ashes and compare it to any stock with techncal and financial challenges and spin the same scenario. The article also fails to point out that the half million dollar sale to the government was NOT the quantum sniffer approved by the TSA. We don't need semi-fiction to generate an interest in IMSC. Straight facts do the job. The government order of the non-TSA approved product is a significant breakthrough in itself. It strengthens the company's credibility with other governments concerned about terrorism, and has to catch the eye of the thousands of cargo companies -- from UPS, DHL and FedEx - - who are looking at technology to meet the U. S. government's requirement that ALL cargo coming into the country has to be inspected. That requirement was supposed to go into effect in early December. The deadline apparently was not met but presumably will be soon. Though as mentioned the product being purchased by the U. S. was not the one approved by the TSA, the company, its technology and the ability to deliver on its promises have been greatly strengthened.
    Mar 18 02:18 PM | 2 Likes Like |Link to Comment
  • Has The TSA Opened The Door For Implant Sciences To Make $500mm And Maybe More? [View article]
    Nice article focused on a SINGLE segment of IMSC's business, the TSA. TSA certification is highly significant, and opens a door to a potentially lucrative revenue stream from the U. S. government. But even more exciting are the other doors certification opens. CEO Bolduc mentioned in his conference call last week that a number of countries -- Canada among them -- required TSA certification before it could consider buying IMSC products. No doubt other countries have had the same requirement, either formal or informal. No longer! As Glen said, certification eliminates these barriers and opens the whole world to IMSC.
    Nice, but let's not limit our look to government purchases. Probably the greatest immediate opportunity for IMSC is within the private air cargo industry. The industry -- consisting of literally thousands of companies from United Parcel Service to small brokers in Mongolia -- must shortly meet legal requirements to have ALL cargo coming into the U. S. inspected for terrorist vulnerability. This law was supposed to be implemented in early December. Apparently it was not, but presumably will be in the near future. Then there are vast opportunities in critical infrastructure protection. Note that the day following TSA certification, IMSC announced a significant follow-on order from Japan related to nuclear power plant protection. That followed an announcement a week before of the same application in Nigeria. These and other orders from Europe, China and India announced just in the last two months were closed BEFORE the U. S. government blessed IMSC's technology. Now that a critical, highly visible department of the U. S. government, after a long and rigorous test, has stood up and publicly proclaimed that IMSC's product is among the best of the best (or THE best of the best), companies and countries throughout the world are sure to take notice. IMSC has long offered clients advantages over the competition, including no radiation, fast throughput, lower cost of ownership and, in the U. S., a home grown technology. What it couldn't offer was The Blessing. Now we have it. Clearly, for IMSC, the best is yet to come.
    Jan 21 07:33 PM | 3 Likes Like |Link to Comment
  • 2 Milestone Sales Events Mark Pivot Point For Implant Sciences [View article]
    I agree. That delivery (not an order, a delivery!) that IMSC announced last week to India was almost twice as large in terms of revenue as ALL revenue reported in FY 2012, which was $3.4. The size of the order suggests that revenue this quarter, which ends Dec. 31, will be orders of magnitude greater than the $1.4 million in revenue achieved last quarter. The India delivery and the orders of 12 units to the U. S. government you mentioned, the first as far as I recall, and yesterday's announcement of an order for18 units, from China illustrates that IMSC has turned the corner.
    There has been a short on the board who has from time to time knocked the stock. The short rightly points out that the balance sheet is weak, revenues haven't grown, and the vaunted TSA approval everyone is waiting on hasn't come through. We've expected approval "any day now" since September, if not sooner, which clearly has kept the stock price down and volatility up. However, I don't think the Indian government would buy $6 million worth of product if it were concerned Implant Sciences was in danger of going out of business, as the short has implied. Ditto for the U. S. government.
    I think Glenn Bolduc and his team at IMSC are owed thanks for what they have achieved in a difficult environment. Glenn took over a company in serious trouble, changed strategy, reoriented the product line, hired some of the best, most experienced people in the industry, continues developing a world-wide sales and marketing operation, and invested in the manufacturing muscle required to become the much larger company Glenn clearly envisioned.
    I also want to thank the short. When he published his highly negative article a few weeks ago, and the stock fell precipitously, from $1.12 a share as I recall, to 75 cents, I bought more shares, most around 80 cents. So thank you shorty. Please do it again
    Dec 6 10:32 PM | 1 Like Like |Link to Comment