Subject: SeeThruEquity Issues Update on PositiveID Corp. Highlighting Excellent 2016 Advancements

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SeeThruEquity Issues Update on PositiveID Corp. Highlighting Excellent 2016 Advancements
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Company: PositiveID Corporation (OTCQB: PSID)


Price: 0.0541

Change (%): + 0.0005 (0.93)

Volume: 282,650
PSID Chart

SeeThruEquity Issues Update on PositiveID Corp. (OTCQB: PSID)

NEW YORK, NY / ACCESSWIRE / September 6, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on PositiveID Corporation (OTCQB: PSID).

The report is available here: PSID September 2016 Update Note.

PositiveID Corporation, (OTCQB: PSID, “PositiveID”), is a life sciences company focused on developing and commercializing innovative products for biological testing, detection, and diagnostics. The company’s flagship product, the Firefly Dx, is a real-time, handheld molecular diagnostic system that utilizes a proprietary polymerase chain reaction (PCR) automated pathogen detection system, which can be used in the field for biological threat and infectious disease detection without the use of bulky lab equipment. Founded in 2001, PositiveID has amassed an impressive list of customers and partners, including The Department of Homeland Security, NASA, and the US Department of Defense, among others. With a product portfolio bolstered by the December 2015 acquisitions of ENG Mobile Systems (ENG) and Thermomedics, PositiveID has made the transition to a multi-million dollar revenue-generating company and appears to be off to a strong start to FY2016.

Investment Highlights

PositiveID provided several important investor updates recently, with highlights as follows:
  • Phase II contract under SenseNet: The company recently announced it was awarded a Phase II contract under the SenseNet Program from the U.S. Department of the Interior on behalf of the U.S. Department of Homeland Security Science & Technology Directorate, in conjunction with PSID’s partner, ENSCO. The goal of the SenseNet Program is to implement faster, less expensive bio-threat detection systems to increase the effectiveness of current systems and provide an added level of security.
  • Strong 2Q16 Results: Revenues rose to 1.8mn dollars, up sequentially and also well ahead of 2Q15 revenues of $51,000, with growth primarily attributable to the mobile labs business at recently acquired ENG
  • Revenue in 1H16 came in at 3.5mn dollars, on pace to beat guidance of 5mn-6mn dollars. We are raising our 2016E revenue estimate to 6.5mn dollars.
  • PSID management issued a strong outlook, indicating that it had a building pipeline for its Mobile Labs unit and the newly acquired Caregiver® thermometer.
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