Illicit Drug Detector
On August 29, 2006, CDEX entered into a contract with Missouri State Highway Patrol (MSHP) for the Meth Gun Pilot Test Program. CDEX anticipates beginning the Pilot Test Program in September 2006 and completing the test by the end of 2006. CDEX expects to have to refine the design of the Meth Gun based upon inputs from MSHP, and expects the Meth Gun to evolve into an "Illicit Drug Detector" that is capable of detecting more than just methamphetamine. Assuming a successful pilot test program with MSHP, CDEX expects to begin production start-up in early Q1 of 2007 with first production deliveries anticipated in Q2 of 2007.
The Meth Gun is transitioning from a marketing demonstrator prototype, to a beta-test product with a bona-fide law enforcement agency in the Missouri State Highway Patrol, acting as a committed beta-test partner for CDEX. CDEX management anticipates that the "Illicit Drug Detector" could become a significant product portfolio for the company over the next five (5) years. In order for the company to take this product through a successful beta-test program, revise its design, start up a production line, and introduce it into the market by Q2 2007, CDEX must receive additional investment funding to implement its business plan, successfully complete the pilot test program with MSHP, establish a national and international reseller and distribution network, and enter into production. This will require investment to fund the production start up, marketing and sales initiatives, and provide working capital in order to purchase production materials and parts inventories. If the company is unable to obtain the required funding that it needs through debt or equity financing, in the near term, the potential of the "Illicit Drug Detector" product portfolio cannot be realized.
So anyone have any updates on this?
drumbah
