From the SEC filing:
"In May of 2002, CDEX was awarded a seven-month testing sub-contract with a total value up to $75,940 for performance of initial field experiments and data gathering, in arid and temperate climates, using an early stage production model of a landmine detection system, and the related expenses and materials to perform such contract."
"In fiscal 2002, these revenues came primarily from a sub-contract with a government contractor to conduct initial field experiments and data gathering, in arid and temperate climates, using an early stage production model of a landmine detection system based on CDEX's base technologies."
STATEMENT FROM THE CEO
June 3, 2002
This CEO Statement notes the progress in two significant areas: contracts that provide revenue for the company and registration of CDEX stock.
Today, CDEX issued a short Press Release announcing the award of a contract to CDEX for the continued testing of the EM-1, CDEX’s proprietary first generation mobile explosive detection system. The testing is being conducted under the auspices of the United States Army. This contract reflects another step in the process of Army evaluation of the application of CDEX’s proprietary chemical detection technology to the Army’s countermine operational needs. We look forward to the testing and welcome the opportunity to demonstrate the technology in the field. While we are very excited about this new development, we are treating it as just another step toward our ultimate goals. I should add that CDEX has several other proposals outstanding and we are continuing to seek developmental partners in concert with our business vision reported in earlier CEO Statements.
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