NEW YORK, July 23, 2014 /PRNewswire/ — PositiveID Corp. (OTCQB: PSID), based in Delray Beach, Fla., is an emerging player in the bio-threat detection market, that develops molecular diagnostic systems for bio-threat detection and rapid medical testing. The Company’s proprietary airborne pathogen detection system called M-BAND (Microfluidic Bio-agent Autonomous Networked Detector), was developed under contract with the U.S. Department of Homeland Security (“DHS”) Science & Technology directorate, and $30 million of contract funding.
The Company is nearing initial revenue recognition and the recent first ever issuance of revenue guidance by management builds confidence that progress is being made and that we have visibility to deployment of the Company’s products. The Company issued revenue guidance through the end of 2015 of $4-10 million (combined between 2014 and 2015), $3.5 million of which is already in backlog.
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