By: Dylan Sikes - AllPennyStocks.com News

Thursday, October 16, 2014

Homeland security is at a heightened level with the Ebola outbreak making its way into the United States and, of course, the ongoing threats towards the U.S. by the Islamic State in Iraq and Syria, or ISIS as its called. This week, Homeland Security Secretary Jeh Johnson said that there is no credible intelligence that ISIS is planning to use biological weapons, including the Ebola virus, to attack the country. While Johnson dismissed any such suggestions, he encouraged responsible vigilance in defending against ISIS.

Bottom line is if it isn’t ISIS or Ebola; it is something else that the U.S. must be on guard for at all times. To that point, the government is constantly upgrading, developing or funding development of leading technologies in the best effort to keep the country safe. According to Implant Sciences Corp. (OTCQB:IMSC), terrorist attacks are on the rise, with more than 11,000 attacks globally in 2009 alone, with a large portion of those attacks using explosives. With that in mind, Implant has focused its efforts on detecting even trace amounts of explosives to identify a threat before it becomes a reality. The company’s product line of systems and sensors are deployed worldwide in applications such as aviation security, subway security, customs and immigrations and more.

Earlier this month, Implant Sciences said that its desktop explosive and drugs trace detector, called QS-B220, successfully passed the European Civil Aviation Conference’s Common Evaluation Process of Security Equipment (CEP) for airport checkpoint screening of passengers and baggage. QS-B220 is the first explosives trace detector to pass ECAC's stringent laboratory testing protocol, according to the company. The news followed QS-B220 being added to the U.S. Transportation Security Administration's Qualified Products List.

Thursday afternoon, Implant Sciences disclosed that the U.S. Department of Homeland Security (DHS) selected the company’s proposal for funding to develop next generation explosives trace detection (ETD) screening systems. The potential funding is a result of Implant Sciences responding to the Department of Homeland Security's Science and Technology Directorate's Broad Agency Announcement (BAA) 13-03, which sought proposals for technologies that expand capabilities to promote passenger safety and the nation’s security.

Pending successful negotiation, the project is worth up to about $2 million for Implant Sciences.

“[We] will work closely with the department to accelerate the development of ETD systems engineered by our team. We believe the next generation of ETDs can significantly further increase passenger safety, reduce false positives, and create a better travel experience with respect to security screening," commented Glenn D. Bolduc, President and CEO of Implant Sciences, in a statement.

Investors will be watching for the effect of the recent qualifications and potential funding. During fiscal 2014, ended June 30, Implant Sciences reported revenue of $8.55 million, compared to $12.02 million in the year prior quarter, a decrease of 28.8 percent. The contraction in sales was mostly because of a 55.4-percent decrease in the number of QS-H150 handheld units sold in the latest years that were much higher in fiscal 2013 as part of a contract with the India Ministry of Defence. The decline was moderated by a 210-percent rise in the number of QS-B220 desktop units. Net loss for the recent fiscal year was $21.01 million, compared to $27.35 million in fiscal 2013.

Shares of IMSC have been on a steady climb in 2014, rising from around 90 cents to as high as $1.82 in September. Shares initially jumped on the potential funding news Thursday afternoon, but pulled back by the closing bell to end the day down by 0.9 percent at $1.19.

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