Back to Top

"One of today's leaders in investor relations and shareholder services"

PositiveID Corporation (OTCQB: PSID)

Detailed QuoteInterviewsInvestor InfoContact
August 24, 2016 Positive ID Research Update

PositiveID Corporation™ (“PositiveID”, “PSID” or the “Company”), is a life sciences company focused on detection and diagnostics. PositiveID specializes in the development of microfluidic systems for the automated preparation of and performance of biological assays in order to perform molecular diagnostics to detect biological threats in a healthcare setting or at the point of need. PositiveID is also a leader in the specialty vehicle market and infrared thermometry market. The Company’s Firefly Dx is a point-of-need, handheld, pathogen detection system designed to deliver molecular diagnostic results using real-time PCR (polymerase chain reaction) chemistry. The Company’s wholly owned subsidiary, E-N-G Mobile Systems, Inc. (“ENG”), is a specialty vehicle manufacturer specializing in mobile labs, communications vehicles, command centers and homeland security vehicles. PositiveID’s Caregiver® is an FDA-cleared, clinical-grade infrared thermometer for measurement of forehead temperature in adults, children and infants without contact. PSID has offices in Delray Beach, FL, Concord, CA, and Pleasanton, CA. PositiveID operates in three segments: Molecular Diagnostics, Mobile Labs and Medical Devices.

PositiveID’s product lines are developed from patented and patent-pending technologies addressing large government AND commercial markets with unmet needs. The Company is utilizing its strong partners/customers and distribution network, to grow within the various industries it serves. The Company’s Firefly Dx is targeting the vast molecular diagnostics market, estimated to exceed $45 billion by 2020. Firefly Dx is designed to provide lab-quality results from a sample in less than 30 minutes, at the point of need, compared to two to four hours for a lab device, which would enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems. The Firefly Dx benchtop prototype system has successfully detected a number of pathogenic organisms including E.coli, influenza, MRSA, MSSA, C. diff and others in less than 30 minutes. The Company’s ENG subsidiary is capitalizing on its long history and track record of revenues, which have averaged $4 million per year for the last decade. ENG is the worldwide leader in mobile labs, having delivered more than 400 of its MobiLab systems to high profile customers around the globe. The Company’s best-of-breed, non-contact Caregiver thermometer is poised to capitalize on the growth of the infrared thermometry market, the fastest growing segment of the global temperature-monitoring device market estimated at $1 billion by 2020, due to the concerns over the spread of highly infectious diseases.

Recent Highlights

  • PSID announced on 5/25/16 that it has successfully detected the Zika virus on its Firefly Dx polymerase chain reaction (“PCR”) breadboard prototype pathogen detection system (“prototype system”). Zika is a fever-causing virus transmitted by the Aedes Aegyptimosquito that can cause microcephaly, a serious congenital condition in which babies are born with head and brain abnormalities, and Guillain-Barre syndrome, a rare neurological disorder that can result in paralysis. PositiveID used assay partner GenArraytion, Inc.’sAedes Aegypti MultiFLEX™ Bioassay test, which targets four genetic regions of the Zika virus, on PositiveID’s Firefly Dx prototype system. The Zika virus test works with an existing GenArraytion MultiFLEX™ Bioassay panel that targets viruses that cause dengue fever, yellow fever and Chikungunya, which are also carried by the same mosquito and are known to cause febrile disease in humans. This test both identifies and discriminates between the Zika African and Brazilian lineages.
  • PSID announced a revenue increased to $1.7 million for the three months ended March 31, 2016, up from $0.1 million for the three months ended March 31, 2015. The increased revenue is attributable to the Company’s acquisitions of E-N-G Mobile Systems, Inc. (“ENG”) and Thermomedics Inc. in December 2015. The Company’s current revenues are primarily generated from its Mobile Labs segment. Gross profit increased from $28,000 in the three months ended March 31, 2015, to $529,000 in the three months ended March 31, 2016, which is also attributable to the Company’s acquisitions of ENG and Thermomedics.

Value Proposition

  • Innovative and Disruptive Products with Leading Technology and Strong IP.
  • The Company holds a portfolio of 22 key patents/patents pending primarily for the automation of biological detection using real-time analysis for the rapid, reliable and specific identification of pathogens, and relating to its non-contact thermometer.
  • Large Market Opportunities – Molecular Diagnostics, Food Safety, Bio-threat Detection, and Temperature Monitoring. The Company is targeting large and growing multi-billion dollar markets. Firefly Dx, the global molecular diagnostics market is projected to reach $45 billion by 2020. Regarding the prospects for Caregiver, the global body temperature monitoring market is projected to reach $1 billion by 2020, with infrared/non-contact thermometry experiencing the fastest growth.
  • Strategic Partners and Customers Enhance Market Visibility and Positioning. The Company has entered into agreements with government and commercial partners and customers including The Boeing Company, United Technologies Aerospace Systems, Exxon, 3M, Sandia National Laboratories, Lawrence Livermore National Labs, AT&T, NBC, McKesson, Henry Schein, Department of Defense (“DoD”), Department of Homeland Security (“DHS”), NASA, ENSCO, among others.

Market Info

Market Value: $1,969,620 a/o Jul 22, 2016

Authorized Shares: 3,895,000,000 a/o Jul 05, 2016

Outstanding Shares: 17,000,000 a/o Jul 05, 2016

Float: 494,310,663 a/o Apr 06, 2016

Shareholders of Record: 77 a/o Apr 06, 2016

Short Interest: 2,440,733 (2,838.2%) May 31, 2016

Transfer Agent: VStock Transfer LLC

Key Executives

William J. Caragol - Chairman, Chief Executive Officer

Lyle L. Probst - President

Allison Tomek - Senior Vice President Corporate Development

Kimothy Smith, DVM, Ph.D. - Chief Technology Advisor

PositiveID Corporation
1690 South Congress Avenue
Suite 201
Delray Beach, Florida 33445
Ph: (561) 805-8000
Fax: (561) 805-8001