Subject: PSID Results Show a Growing Multi-Faceted Young Company on the Rise

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PSID Results Show a Growing Multi-Faceted Young Company on the Rise
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Company: PositiveID Corporation (OTCQB: PSID)


Price: 0.0032

Change (%): - 0.0021 (39.62)

Volume: 146,496,851
PSID Chart

PositiveID Reports Revenue of 4.6 Million Dollars for First Nine Months of 2016, Up 70% from 2.7 Million for First Nine Months of 2015

DELRAY BEACH, Fla., Nov. 21, 2016 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, has announced its financial results for the three and nine months ended September 30, 2016. The Company’s Form 10-Q for the third quarter of 2016 can be found in the Investor Relations section of its website at

Revenue for the nine months ended September 30, 2016 totaled 4.6 million, compared to revenue of 2.7 million for the nine months ended September 30, 2015, during which period 2.5 million was due to a license and teaming agreement that the Company entered into with the Boeing Company in 2012 for its M-BAND system. The increased revenue for the 2016 period is attributable to the Company’s acquisitions of E-N-G Mobile Systems (“ENG”) and Thermomedics in December 2015.

“Through the first nine months of this year, our Mobile Labs and Caregiver businesses have delivered solid operational performances, with growing revenues and expanding sales pipelines that give us confidence about their continued execution,” stated William J. Caragol, Chairman and CEO of PositiveID. “As we focus on growing the strong customer base and cash flow of the ENG Mobile Lab and Caregiver businesses, we also are highly motivated to complete the development and testing of Firefly Dx, as we believe each of these businesses are key to our future success.”

PositiveID is developing the Firefly Dx prototype system to be a handheld, fully automated, lab quality, real-time device able to detect pathogens at the point of need. A design advantage of Firefly Dx is that it does not require additional equipment or separate steps for sample preparation and purification, unlike current lab-based equipment, thus reducing time to results as well as cost per test. Firefly’s applications include point-of-need, lab-quality, detection of pathogenic organisms; agricultural and food screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction.

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