I guess the INVN subsidiary that is the lead for $121 million in military contracts is a non-starter today.
This stock is totally invisible..Must be the market conditions.
"Quantum Magnetics Is Member of Winning Research & Development Team Awarded Eight-Year Army Contracts Totaling $121 million
SAN DIEGO--(BUSINESS WIRE)--July 10, 2001--Quantum Magnetics, Inc., a wholly owned subsidiary of InVision Technologies, Inc. (Nasdaq:INVN - news), announced today that the company will lead the development of advanced magnetic sensors as part of a 15-member Collaborative Alliance of companies and universities. This Alliance was awarded a $61 million, eight-year contract by the U.S. Army Research Laboratory (ARL) to detect vehicles, enemy personnel and other targets in battlefield conditions. The Advanced Sensors Collaborative Technology Alliance is headed by BAE Systems (Nashua, NH), and other team members include Northrop Grumman Corporation, General Dynamics Robotics Systems, Massachusetts Institute of Technology, Jet Propulsion Laboratories, and the Georgia Institute of Technology. ARL also awarded the Alliance a second, concurrent $60 million for procurement contracts resulting from products developed under the initial contract." |
