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Tuesday, November 29, 2022

An Inside Look at PositiveID Corp (OTCMKTS:PSID)

PositiveID Corp (OTCMKTS:PSID) has been moving steadily upwards on accelerating volume since pivoting up off $0.021 support levels. The stock has a long history of explosive moves over the past few years and Investors are waiting for another one.

PSID is an ex NASDAQ stock that used to trade as VeriChip Corp. until they were delisted to the bb’s back in 2011. The stock has a long history of explosive short term pops on big volume.

PositiveID Corp (OTCMKTS:PSID) is a developer of biological detection systems for America’s homeland defense industry as well as rapid biological testing. They develop microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats at high-value locations, as well as analyze samples in a medical environment.

PSID flagship is the Firefly Dx; a handheld system designed to deliver molecular diagnostic results using real-time PCR (polymerase chain reaction) chemistry. The Company is developing the Firefly Dx based on intellectual property and know-how gained during years of development and $30 million of contract funding from the U.S. Department of Homeland Security for the Company’s M-BAND system, which uses PCR for the identification of airborne bio-threats.

PositiveID Corp has miniaturized its proven real-time PCR technology for the handheld Firefly Dx system, which is designed for use by first response teams to detect biological agents associated with weapons of mass destruction; agricultural screening in domestic sectors and developing countries; and point-of-need monitoring of pathogenic outbreaks.

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Results can be immediately obtained and processed in-situ via SMART phone interface (or personal computer) with a specialized, mobile HTML application and Cloud-based data sharing and storage. The ease-of-use, portability, low cost, and assay flexibility is designed to provide the user with confidence and assurance of an analytically accurate response in limited and remote environments.

In October PSID announced an agreement to acquire the capital stock of Thermomedics, Inc., which manufactures and markets the FDA-cleared Caregiver® non-contact clinical-grade thermometer. This acquisition is a part of PositiveID’s overall growth strategy to add revenue-generating, complementary products with significant market penetration potential to its portfolio. PositiveID will continue to look at other opportunities to execute this growth strategy.

On November 18 PSID announced Chairman and CEO William J. Caragol will present at the LD MICRO 2015 “Main Event” investor conference on Wednesday, December 2, 2015 at 9:30 am PST/12:30 pm EST, at the Luxe Sunset Boulevard Hotel in Los Angeles, CA.

PositiveID’s Firefly Dx is a point-of-need, handheld system designed to deliver molecular diagnostic results from a sample in less than 20 minutes, compared to hours or even days for a lab device, using real-time PCR (polymerase chain reaction) chemistry.

PositiveID’s M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins for up to 30 days. Results from individual M-BAND instruments are reported via a secure wireless network in real time to give an accurate and up-to-date status of field conditions. M-BAND is the only system of its kind successfully demonstrated in the field under the DHS’ BAND Program (Bio-agent Autonomous Networked Detector).

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Currently trading at a $9 million market valuation PSID has minimal assets or revenues and significant, fast rising debt that can lead to massive dilution. But PSID is an exciting story developing in small caps; they have an exciting and revolutionary product in the Firefly Dx and just announced a big acquisition in Thermomedics Inc that is expected to strengthen PositiveID’s FDA and manufacturing capabilities. PSID is also an ex NASDAQ stock with runner in its blood that is moving up on big volume. We will be updating on PSID when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PSID.

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Disclosure: we hold no position in PSID  either long or short and we have not been compensated for this article.

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