Implant Sciences Extends Credit Agreements with DMRJ Group LLC
DMRJ Cites TSA Air Cargo Screening Qualification and European Passenger and Cargo Screening Certification
WILMINGTON, Mass., Nov. 14, 2013 /PRNewswire/ -- Implant Sciences Corporation (OTCQB:IMSC), a high technology supplier of systems and sensors for homeland security markets, today announced that it has renegotiated its credit agreements with its senior secured lender, DMRJ Group LLC.
DMRJ has agreed to extend the maturity of all Implant Sciences' indebtedness from March 31, 2014 to September 30, 2014. No other terms or conditions of the credit agreements were changed.
DMRJ's David Levy commented, "Implant Sciences continues to solidify its position as a leader in the Explosives Trace Detection market. The Company's QS-B220 Desktop Trace Detector has successfully achieved certification with the Service Technique de l'Aviation Civile ("STAC"), the French civil aviation authority, for passenger and cargo screening, was accepted into the "Qualified" section of the TSA's Air Cargo Screening Technology List, and is progressing through the TSA's Systems Integration Facility toward qualification on the TSA's Qualified Product List for passenger checkpoint and checked baggage screening. Extending the credit facility with Implant Sciences clearly demonstrates our confidence in the continued success of Implant Sciences."
Implant Sciences' President and CEO Glenn D. Bolduc added, "Once more, DMRJ has demonstrated their confidence in Implant Sciences and belief in our future. We have been partners for almost five years and they continue to be extremely supportive of Implant Sciences and our initiatives, for which we are most appreciative."
