PositiveID's Chairman and CEO Discusses Progress with Bio-Threat Detection Technology and Revenue Guidance

NEW YORK, June 16, 2014 /PRNewswire/ -- (Investorideas.com Newswire) Investorideas.com, a leader in research for independent investors presents an exclusive Q&A interview with Mr. William J. Caragol, Chairman and Chief Executive Officer of PositiveID Corporation (OTCBB: PSID), a developer of biological detection and diagnostics solutions. Mr. Caragol discusses the current status and opportunities for its bio-threat detection technology and recently announced revenue guidance.

Q: Investorideas.com

On May 27^th you released a corporate update on your contracts for M-BAND and Firefly technologies. Can you give investors the highlights?

A: Mr. William J. Caragol, Chairman and Chief Executive Officer

We are very proud of what we have achieved so far in 2014. Our major accomplishments include forming significant partnerships with commercial and federal government organizations, and importantly, revenue generation. In summary, we entered into a contract with a large commercial partner to support a U.S. Department of Defense ("DoD") contract and test our M-BAND system, which will provide revenue to the Company of $841,000 through September; we announced one of our teaming partners was awarded a prime contract by the U.S. Defense Threat Reduction Agency to conduct research and development to combat weapons of mass destruction; and, more recently, we signed a Space Act Agreement with NASA's Ames Research Center through which NASA will assess our Firefly technology for potential ground and space applications.  When you look back at our releases, the commercial and government partners we are working with are a true "who's who" in the fields of security and detection.

Q: Investorideas.com

At this point do you see more interest in your M-BAND or Firefly Technologies for contracts and revenue streams and can you give some insight as to why? 

A: Mr. William J. Caragol, Chairman and Chief Executive Officer

We continue to see interest in both M-BAND and Firefly. M-BAND, which stands for Microfluidic Bio-agent Autonomous Networked Detector, has more of a targeted, albeit significant, opportunity through anticipated multi-billion dollar government programs to detect airborne biological weapons of mass destruction. On the other hand, we believe Firefly, our point-of-need, handheld, molecular diagnostic device, will be able to be used in a multitude of industries, including military/government applications, healthcare and even agricultural applications. As you might expect, these are very large markets as well.     

Q: Investorideas.com

Your latest press release on June 11th announced your first ever revenue guidance of $4-10 million. You also stated that $3.3 million is backlogged. This is obviously a transitional period for the company in several ways. Are you starting to see a perception change from the financial community?

A: Mr. William J. Caragol, Chairman and Chief Executive Officer

I think we are. We are seeing more interest from strategic partners who see the potential of our products and the markets we are pursuing. The fact that we are generating revenue from a large commercial partner under a government contract and technology license is also noteworthy. We have the ability to execute, our technology and IP portfolio is strong, and we believe we have the partners in place to win major contracts.

Q: Investorideas.com

As a small company receiving contracts from large government agencies including U.S. Department of Defense, U.S. Department of Homeland Security, and Department of Health and Human Services do you attribute your success to the technology or your partnering or both? 

A: Mr. William J. Caragol, Chairman and Chief Executive Officer

I think our partners are a direct reflection of the quality and differentiators of our technology and the strength and experience of our management team. We are very gratified by the partnerships we've established and believe they provide an important validation of what PositiveID has to offer.

Q: Investorideas.com

In May you announced signing a Space Act Agreement with NASA's Ames Research Center to collaborate on testing the Company's Firefly Dx detection system ("Firefly") as a platform for biological research and commercial development for ground and space applications. Can you give our readers the significance of this collaboration and what it means moving forward?

A: Mr. William J. Caragol, Chairman and Chief Executive Officer

When an organization with the respect and recognition that NASA has earned wants to work with you and further the development of your technology to see how it may help them in their specific endeavors, it is significant. As we pursue opportunities with other government and commercial entities, having a group like NASA standing by our side makes people take notice. Having third-party support, especially when it comes from a group of world-class scientists, is very important for a small company like PositiveID.

Q: Investorideas.com

In closing, it seems like the company and technology are gaining momentum and traction from some very high profile institutions and agencies; do you think that is a reflection of a renewed sense of urgency to address bio-threats or is it a matter of going through the system and reaping the long term rewards?   

A: Mr. William J. Caragol, Chairman and Chief Executive Officer

Unfortunately, we've witnessed global events that underscore the danger posed by biological weapons of mass destruction. That said, there definitely is a heightened focus on the need for bio-threat detection, and a pick-up in government procurements for these technologies.  At the same time, however, it's not simply a matter of being in the right place at the right time. We have worked diligently to create the necessary partnerships to successfully capture the opportunities ahead of us.

About PositiveID Corporation

PositiveID Corporation is an emerging growth company and developer of biological detection systems for America's homeland defense industry as well as rapid biological testing. PositiveID is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats and analyze biological samples. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.

Contact

PSID:
Allison Tomek
+1-561-805-8000
[email protected]

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Statements about PositiveID's future expectations, including without limitation, the likelihood that PositiveID will generate revenue of $4-10 million over the next 18 months, $3.3 million of which is already in backlog; the likelihood that Firefly will be able to be used in a multitude of industries, including military/government applications, healthcare and even agricultural applications; the likelihood that PositiveID has the partners in place to win major contracts; the likelihood that PositiveID has  created the necessary partnerships to successfully capture the opportunities ahead of it; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, including the likelihood that PositiveID will be successful with its submissions for bids and proposals in conjunction with several large commercial partners in response to a pick-up in new U.S. government procurements for bio-threat detection, and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on April 11, 2014, and 10-Qs filed on May 20, 2014, November 19, 2013, and August 14, 2013, as amended August 19, 2013, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

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