CEO STATEMENT
May 20, 2003
Since my last CEO Statement, much has happened in the CDEX camp. Consistent with a maturing company, we are in the process of expanding staff to support growth in the technology development sector as well as added focus in certain business functions, such as financial management and marketing. We continue development of our proprietary chemical detection technology (patents pending) in three primary areas of application -- detection of explosives, chemical/biological agents, and drugs. In this Statement, I also announce CDEX’s second contract with the US Government and talk about a very promising area of application that we have not previously discussed – detection of prescription drugs for the medical community.
Focusing first on explosive detection, in my last CEO Statement I noted that we had “officially” begun marketing for the first of our four-product suite of explosive detection products, the PS3 (Personnel Security Screening System) -- a battery/AC powered, hand-held scanner and portable processing unit that uses ultraviolet (UV) energy to detect trace amounts (residue) of explosive types contained in the system’s database. Since January, we have upgraded the PS3 to provide the capability to detect additional explosives, direct mailed our PS3 brochure to hundreds of targeted organizations, and demonstrated the PS3 at our first “show” (the TechNet at the DC Convention Center on May 6-8). CDEX is currently assembling/evaluating responses, as we react to the marketplace. These may lead to modifications to the product as we go forward in the marketing process. In addition, we are continuing discussions designed to lead to other partnering arrangements, while pushing ahead with the other three products in the explosive detection suite. At bottom, we are now actively in the marketplace with a product that we believe will compete well against targeted competition. We will be bringing other sister products to the marketplace in the near term. We look forward to the next six to twelve months."
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"we are now actively in the marketplace with a product"
Really? In May 2003, MP claimed that PS3 was available for sale and use in the public marketplace? Wow, where could I have bought one? I saw the shiny PDF sales brochure in his CEO statement of January 20, 2003.
Now here we are 4 years later. Where can I buy one of these products that was "actively in the marketplace" and advertised with a shiny end-user product sales brochure?
I have my credit card handy in case operators are standing by.
AI
