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Prospector
Profile
1022-03
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| Implant Sciences Corp. |
NAICS |
339110 |
| 107 Audubon Rd.
#5 Wakefield, MA 01880 |
Description |
Medical Equipment Mfg. |
| (781) 246-0700 |
Employees |
91 |
| http://www.implantsciences.com/ |
Revenue |
(mil) |
15.4320 |
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Income |
(mil) |
-10.6880 |
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Assets |
(mil) |
19.6000 |
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Liability |
(mil) |
6.1650 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
UHY LLP raised substantial doubt about Implant Sciences Corporation's ability to continue as a going concern after auditing the company's financial statements for the fiscal year ended June 30, 2007. The auditing firm pointed to the company's recurring losses from operations. The company posted a $10,688,000 net loss on $15,432,000 of total
revenues for the year ended June 30, 2007, as compared with a $7,084,000 net loss on $18,074,000 of total revenues in the prior
year.
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Intellectual Property:
The Company protects its proprietary position by filing United States and foreign patent applications. It currently has 20 issued United States patents and 8 United States patent applications pending. Of the 20 patents issued, 6 are of material importance and are related to explosives detection. The Company also relies on unpatented proprietary technology, trade secrets and know-how. [SEC Filing 10-KSB 10-15-07]
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Description:
The Company engages in the development, manufacture and marketing of radioactive and nonradioactive products for the medical device and industrial products sectors using its proprietary ion implantation and thin film coating technologies.
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Officers:
Anthony J. Armini (Chair); Phillip C. Thomas (Pres. & CEO); Stephen N. Bunker (VP, Chief Scientist & Dir.); Diane J. Ryan (VP & CFO); Aalter Wriggins (VP); Michael Szycher (Dir.); David B. Eisenhaure (Dir.); Michael Turmelle (Dir.)
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Auditor:
UHY LLP
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Securities:
Common Stock-Symbol IMX; AMEX;
11,835,661 common shares outstanding as of October 11, 2007.
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