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Ionatron Announces the Introduction of the First Deployable JIN Counter IED System
Business Wire, June 27, 2005
TUCSON, Ariz. -- Ionatron, Inc., (Nasdaq: IOTN) a next generation controlled directed energy weapon technology company, today announced that the introduction of the first field deployable JIN Counter IED system will occur on July 7th at the NASA Stennis Space Center on the Gulf Coast of Mississippi. Ionatron established its production facility at the NASA Stennis Space Center on April 1st of this year. The Honorable Haley Barbour, Governor of Mississippi, will host the event. Attendees will include members of the Federal, State, and Local Government, representatives of the military, military families, as well as representatives of local and national media.
Ionatron expects to deliver 12 JIN Counter IED systems to the Government over the next 60 days from its Stennis manufacturing facility in Mississippi. Additionally, the Government has asked Ionatron, as part of the response to the Government's statement of work, to provide a price for a minimum of 90 days of support in Iraq for these systems. The Iraq operational support, upon contract finalization, will be priced to also include equipment spares, ongoing training of military personnel and continued development and improvements of the JIN technology based on feedback from Department of Defense testing and field operations. The Company anticipates that recommended improvements will be incorporated into future production versions of the JIN technology.
Ionatron is presently performing the development and production activities under a U.S. Government letter contract, pending finalization of the formal contract for this effort. Ionatron's pricing for the initial 12 JIN units is approximately $10 million. Spares, testing services, training and 90 days of in Iraq support are anticipated to be approximately an additional $13 million.
Ionatron and the U.S. Government Joint Team continue to work in conjunction to deliver the JIN Counter IED systems to Iraq as rapidly as possible in order to help protect our troops and Iraqi civilians and to support the Global War on Terrorism.
About Ionatron Inc.
Ionatron, Inc. develops and markets Directed Energy Weapon technology products for sale to the U.S. Government. The goal of the Company is to produce products that incorporate our technology initially for specific U.S. Government customer applications and platforms. Additional information can be found at www.ionatron.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any futures results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risks of uncertainty of patent protection; the risks of uncertainty of strategic alliances; the risk and uncertainty of management tenure; the impact of third-party suppliers' manufacturing constraints or difficulties; management's ability to achieve business performance objectives, market acceptance of, and demand for, the Company's products, and resulting revenues; development of technology and manufacturing capabilities; impact of competitive products and pricing; litigation and other risks detailed in the company's filings with the Securities and Exchange Commission. The words "looking forward," "believe," "demonstrate," "intend," "expect," "estimate," "anticipate," "likely" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Ionatron undertakes no obligation to update any forward-looking statements contained in this news release.
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