PositiveID Corporation (fka PSID)

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Re Cap from 4-03-18

Source: PositiveID Corporation
Released April 3, 2018

“We are working diligently to ensure that our core businesses stay focused on building their top line growth with their leading-edge technologies. With the launch of our new Bluetooth-enabled Caregiver® thermometer and our continued efforts to identify and negotiate with the best strategic partner(s) for the FireflyDX product line, we remain highly focused on capitalizing on these valuable assets in 2018 and beyond.”

PositiveID holds a significant equity interest in ENG (the Company currently owns 24% of the capital stock of ENG). On June 12, 2017, PositiveID sold 49% of its ownership in ENG, bringing its ownership to 51%. On January 30, 2018, ENG sold shares of its preferred stock, which reduced the Company’s ownership to 24% which will result in the deconsolidation of ENG effective January 30, 2018, at which time the Company will prospectively deconsolidate the balance sheet, results of operations, and cash flows of ENG in its consolidated financial statements. The terms of the transactions were disclosed in Forms 8-K filed by the Company with the Securities and Exchange Commission.


Deconsolidation of ENG is a good corporate move IMO.
ENG will need to update thier website

http://www.e-n-g.com/about

E-N-G Mobile Systems is a wholly-owned subsidiary of PostitiveID Corporation, a life sciences company specializing in biological detection and diagnostics systems.

E-N-G Mobile Systems is a wholly-owned subsidiary of PostitiveID Corporation, a life sciences company specializing in biological detection and diagnostics systems.



An advantage over its competitors in the Mobile Laboratory Market is that PositiveID has on-staff engineers and scientists with laboratory design expertise (BSL-1, BLS-2, BLS-3). This adds to E-N-G’s laboratory integration experience and allows the design team to optimize workflow and safety requirements. PositiveID also offers laboratory training for BSL-1 through BSL-3.