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| SCIENTIFIC INNOVATIONS, INC. is a privately held New York corporation founded in 1985. SII has d eveloped unique cutting edge technology; "Mono-energetic gamma resonant imaging and detection system"™, MGRIDS™; and exclusive patents licensed to it under specific agreement from Joseph H. Brondo, Jr. (Co-Founder, President and CEO), for non-intrusive detection and imaging systems based on Gamma Resonance Fluorescence, Gamma Resonance Absorption, Gamma induced Photofission and other proprietary technologies combined. This provides the unique capability to detect and image threats such as explosives, nuclear weapons and materials, chemical warfare agents, drugs,contraband and emerging threats specifically by chemical element without the need for operator interpretation and analysis of images or data. This allows high detection probability without false alarms. The system designs are customized for specific applications which include imaging 2D, 3D tomographic of the total contents and the specific threats simultaneously. The unique attributes of this technology also provides standoff and remote detection for military applications for detection of improvised explosive devices (IED's) car and truck bombs at safe distances to provide adequate time to respond.
DEVELOPMENTS AND OPPORTUNITIES NATIONAL Scientific Innovations Inc. is currently included for use of our MGRIDSTM Units together with that of two companies in Joint Venture negotiating for contracts regarding protection of Southern and Northern Borders, U.S. Continental and U.S. Possessions , Port Security in U.S. Ports and similar applications for NATO Countries.
It is estimated that this overall program will require production rates in the area of 100 systems per month or more. With this in mind we are reviewing additional Corporations for Licensing system integration, maintenance, and operation.
We have been approached and have been in conferences with a Group that is offering to form a public Corporation which we are discussing terms with. Three versions have so far been proposed. In one version SII would own shares and warrants in the Public Company and they would want Exclusive License of the Patents; In the second version the Public Company would act as Exclusive Marketing and Distributer of Systems; In the third version it was proposed that this Company would want to take over Exclusive rights to the Patents, all manufacturing, system integration, marketing, sales, maintenance, training, servicing and spares. To date all of these offers have been rejected due to the Capital structure of the offers.
We have been in the process addressing the tasks involved in outright purchase of the corporation by public corporations currently involved in the international security market and in need of advanced MGRIDS systems to address the needs of comprehensive and automated screening requirements for positive identification of evolving threats. We anticipate that this will become a portion of opportunities to consider as we move forward.
We are also considering licensing to multiple system integrators thereby reducing the need for expansion accompanied by increase overhead. We are considering restructuring the Scientific Innovations, Inc. to include three cost centers as LLCs so that each will address the separate applications of (1) Homeland Security and DOD, (2) Oil and Gas and Mining, and (3)Medical. Scientific Innovations, Inc. is continuing to offer World Wide Patent Licensing opportunities for our Gamma Resonance Technology; "Mono-energetic gamma resonant imaging and detections systems"™, MGRIDS™; to qualified corporations for: | |
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