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TUCSON, Ariz.--(BUSINESS WIRE)--May 4, 2005--Ionatron, Inc., (Nasdaq: IOTN - News) a next generation controlled directed energy weapon technology company, today reported that on April 12th a large contingent from the Office of the Secretary of Defense, headed by J. David Patterson, The Special Assistant to The Deputy Secretary of Defense, visited Ionatron and viewed the Company's new Counter IED technology being demonstrated at Davis-Monthan AFB. The group also visited the Ionatron Tucson Advanced Concepts facility to view the Company's LIPC (Laser Induced Plasma Channel) Directed Energy Weapon technology. The NBC News crew accompanying this group filmed and interviewed various military officers and Ionatron employees to best understand how the Company's Counter IED prototype system finds, detonates and disables roadside bombs. The NBC News clip, aired last evening, showed the Ionatron technology (proprietary and patent pending) necessary to combat the favored weapon of insurgents and terrorists, the Improvised Explosive Device or IED. General Joseph Votel commented, "The Ionatron system was just the type of out of the box, new technology solution we're looking for, quite honestly"
Thomas Dearmin, CEO of Ionatron, commented, "Ionatron has been expediting its Counter IED system based upon the urgent need directly conveyed to us by the Deputy Secretary of Defense's office at the Pentagon. We have rapidly engineered a system that uses technology developed for our LIPC Directed Energy Weapons, and it has proven extremely successful at finding and destroying IEDs."
Mr. Dearmin concluded, "We at Ionatron feel privileged to be able to work side by side with our military forces and offer a potential solution for the number one problem facing our troops in Iraq today. The young men and women from the military we work with every day have such dedication to America and their cause, it makes us at Ionatron proud to have the opportunity to help support their mission and hopefully keep them safer."
"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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Shorts are trying to keep a lid on this and are still shorting. They are pissing in the wind as they say. The will get really wacked when the big news hits with the announcement of the contract. And as others have said, this counter-IED application is merely an offshoot of their core technology and its core applications.
60-80M in revenue this year, with 240++ in '06. It will trade at a huge multiple, with the growth to support it.
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