Here is one it has 30M in the float but they have revenues and the loss has falling 53%.
New Instrument Delivery to Increase Revenue Potential Of Earth Search Sciences
MCCALL, Idaho--(BUSINESS WIRE)--June 1, 1999--Larry Vance, founder and chairman of Earth Search Sciences, Inc. (OTC BB:EDIS), today announced that the company this month expects to accept delivery of its second Probe-1 hyperspectral remote sensing instrument.
Placing the new instrument into service is projected to increase ESSI's revenue potential by approximately $5 million per year, Vance said.
''Currently, we have a number of projects backlogged, so we are eager to put our new instrument to work,'' Vance said. ''Having an additional instrument will enable us to better serve our existing customers, add more clients and increase revenue.''
Earth Search Sciences plans to begin acceptance trials for the new Probe-1 instrument in Australia this month. At the end of the trial, ESSI will make a final $250,000 payment for the instrument.
Vance said Earth Search Sciences' original Probe-1 recently returned from Australia, where it collected data for Canadian mining company Falconbridge Limited and underwent a routine instrument calibration.
''The additional Probe-1 will have great utility for Earth Search Sciences because we won't have to wait until one project is complete before beginning another,'' Vance said.
ESSI's first Probe-1 instrument is currently undergoing experimental data collection trials in the United States in preparation for ESSI's June 23rd mission in Yellowstone National Park.
Remote sensing, or ''hyperspectral'' imaging, creates ultra high resolution images of the earth's surface. Analysis of these images can determine the presence of target minerals in geologic formations or evidence of minerals from vegetal ''signatures.''
Earth Search Sciences' officials believe hyperspectral remote sensing instrument capabilities can deliver authoritative information to clients in many industries, including mining, defense, agriculture and the environment. The cost of data from Probe-1 and its fixed-wing platform is substantially below that of existing satellite technology, creating a competitive advantage for ESSI's customers in the race to learn the earth's secrets.
This news release includes forward-looking statements that involve a number of risks and uncertainties, some or all of which may at times be beyond the control of the company. Thus, there can be no assurance that the forecasts will be achieved. Actual results will vary from those forecasted and the variations may be material.
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Contact:
Media:
Scott Peyron, 208/388-3800
Investor:
Ken Danchuk, 250/712-0356
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