"CastScope enables checkpoint screeners to search for concealed threats when screening passengers with casts, braces, heavy bandages or prosthetics, while at the same time allowing the inspections to be conducted in a professional manner, resulting in less embarrassment to the person being screened. Other potential customers for CastScope include the U.S. Department of Defense, the U.S. State Department, the U.S. Department of Homeland Security as well as other local, state and federal government agencies. It is expected that CastScope will be attractive to foreign governments as well."
CarScan is being funded by Technical Support Working Group ("TSWG") an agency of the government and will allow vehicles approaching a checkpoint or gate to drive slowly through the inspection system, enabling screening without the driver or passengers leaving the vehicle. Phase I of this contract was a laboratory feasibility study lasting nine months, followed up by a Phase II that involves the construction and field testing of a prototype of the technology.
Dr. Steven W. Smith , President of Spectrum said, "Screening vehicles including trucks, trailers and cars, is the next logical step for this technology, and we expect this work to lead to a commercial product upon completion of the contract. Building on our success with full-body and cast scanning, we are designing this product to be a quick, safe and cost-effective way of detecting dangerous objects, without requiring the occupants to leave the vehicle, a high priority goal for both domestic security and force protection overseas."
About Diversified Opportunities
DVOP, which is 97.83% owned by Holdings, was acquired as a trading shell and currently does not have any ongoing business operations or any revenue sources.
Founded in 1998, Spectrum is a product development group specializing in the design of electronic imaging systems and instrumentation. The company's founder is Dr. Steve Smith , a noted expert in electronic design, X-ray imaging and digital signal processing.
Spectrum's primary focus is the invention, development and commercialization of novel imaging systems with efforts currently focused on three branded products, SentryScope, CastScope, and CarScan, plus ongoing funded research and development projects.
Over the last eight years Spectrum has executed contracts and grants for the TSWG, National Science Foundation, National Institute of Health, Transportation Security Administration, United States Air Force, InVision Technologies, Rapiscan Systems and others.
QRSciences is a subsidiary of Holdings, a publicly listed company that trades on the Australian Stock Exchange and as an ADR on the US over-the- counter market (QRS:ASX; QRSNY.PK). The company specializes in the design, development and sale of advanced technology systems, sub-systems, components and software for security related applications. Applications for its technologies and products include the detection of explosives and narcotics, metal detection and imaging, surveillance and monitoring. The Company and its subsidiaries have a wide range of government and commercial customers including GE Security, Transportation Security Administration, U.S. Department of Homeland Security, U.S. TSWG, Australian Customs, China Institute of Atomic Energy (CIAE), United Arab Emirates Government, HM Customs UK and Rapiscan Systems.
For more information on QRSciences Holdings visit: http://www.qrsciences.com.
Statements included with this press release, which are not historical in nature, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Such statements are indicated by words or phrases such as "anticipate," "estimate," "projects," "believes," "intends," "expects" and similar words and phrases. The following are important factors that could cause DVOP's actual results to differ materially from those expressed or implied by such forward looking statements:
Actual results may differ materially from the company's expectations and estimates.