From today's 10-Q:
The BioScanIR System has received FDA Section 510(k) clearance permitting its sale in the US, and CE mark approval permitting its sale in Europe.
We have commenced our principal commercial operations, which includes production of systems and commencing commercial sales activities. We delivered our first production unit for test and evaluation to the Bergamo Hospital in 2004, and as of July 31, 2004 have four fully functional prototype or commercial units installed in various US and European medical institutions for testing and evaluation. We received our first purchase order for a commercial system and anticipate delivery of that system by September 30, 2004 and payment to take place in the fourth quarter of 2004. In addition, in June 2004, we completed a research and development contract with the US Department of Defense's Missile Defense Agency to further develop its core sensor technology that generated $69,800 in revenue for us in the quarter ended June 30, 2004.
We have committed to purchase infrared camera components from AEG Infrarot-Module GmbH for approximately $333,000 as of July 31, 2004. These systems and components utilize QWIP technology, for which we are the exclusive licensee. We have additional commitments to purchase materials and components from other vendors aggregating $8,000 as of July 31, 2004. |
