We continue to expend funds to further the development of new products in the areas of explosives detection, as well as to prepare for certain government laboratory acceptance testing.
We are in the process of negotiating an amendment to our credit facility with DMRJ Group to extend the maturity of all of our indebtedness from March 31, 2011 to September 30, 2011. On March 30, DMRJ agreed to extend the maturity of our debt until April 7, and increased our credit line, while we continue our negotiations.
"We are delighted with the performance of our engineering staff regarding the development of products the Company will submit to the Transportation Security Administration for testing in the ensuing months. We look forward to working with TSA on finding solutions that enable the most effective products in the defense from terrorist actions."
These things are sounding good to me, I am glad to own this one :)
