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| Market Reacts Positively PSID |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCBB: PSID)
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Last:
Price: 0.022
Change (%): + 0.0061 (38.36)
Volume: 5,265,134 |
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PositiveID Corporation Comments on Department of Homeland Security's Revised Procurement Strategy for BioWatch Generation 3, Phase II
Updated Strategy Consists of a Two-Stage Procurement, the First Stage of Which is Planned to Begin Later This Year With the Release of Draft Request for Proposal
Company Believes it is Well Positioned for Performance Testing as Its M-BAND System Was the Only System of Its Kind Demonstrated Previously in the Field Under the DHS S&T BAND Program
DELRAY BEACH, Fla., Sept. 24, 2012 (GLOBE NEWSWIRE) - PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), an emerging growth company and developer of airborne bio-threat detection systems for America's homeland defense industry as well as advanced technologies for diabetes management and rapid medical testing, today provided an update to its stockholders on its pursuit of BioWatch Generation 3, Phase II. Two weeks ago, the Department of Homeland Security ("DHS") revised its procurement strategy for BioWatch Generation 3, Phase II, which now will consist of a two-stage procurement which includes two to three years of testing estimated at $89 million. A draft request for proposal ("RFP") on this effort is scheduled for release in the fourth quarter of calendar 2012. PositiveID's patented M-BAND biodetector was developed under a competitive award from the DHS Science & Technology Directorate ("S&T").
The purpose of BioWatch Generation 3, Phase II is to obtain a fully autonomous networked biodetection capability that will be deployed, operated, and sustained, both indoor and outdoor, in selected U.S. BioWatch jurisdictions to continuously monitor the air for agents of biological concern. The original procurement outlined in the draft solicitation released by DHS in August 2011, with an estimated contract value of 3.1 billion dollars, contemplated a single procurement resulting in a single award Indefinite Delivery Indefinite Quantity (IDIQ) contract for Performance Testing, Low Rate Initial Production (LRIP), Operational Test & Evaluation (OT&E), Detector Production, Deployment, Sustainment and Disposal.
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