DELRAY BEACH, Fla. and NEW YORK, Jan. 8, 2013 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID") (OTCBB:PSID), an emerging growth company and developer of airborne bio-threat detection systems for America's homeland defense industry as well as advanced technologies for rapid medical testing and diabetes management, today announced it has retained Secure Strategy Group ("SSG") for strategic and financial advisory services.
"As we at PositiveID continue to focus on our molecular diagnostic technologies, specifically our M-BAND airborne bio-threat detector and Dragonfly™ Rapid MD-x Cartridge-based diagnostic system, we are pleased to work closely with SSG, which has a strong track record assisting companies that address critical needs for homeland security," commented William J. Caragol, Chairman and CEO of PositiveID. "The team at SSG includes leaders experienced in securing federal government and commercial opportunities, and we believe that by working together, PositiveID will be able to increase value for our stockholders."
Scott Greiper, President of SSG, stated, "PositiveID is at an exciting turning point in its evolution. As PositiveID completes the re-positioning of its business, its homeland defense technology fulfills an important and unmet market need. Through our extensive relationships and industry knowledge we believe we can accelerate PositiveID's ability to achieve its goals and capitalize on new initiatives."
About Secure Strategy Group
Secure Strategy Group ("SSG") is a specialized strategic advisory practice that works with best of breed technology providers in the homeland security, defense and communications industries. SSG has successfully raised and invested a significant amount of capital in public and private technology companies, completed a range of M&A transactions, and generated significant contract and strategic opportunities for its clients on a global basis. Broker dealer services are provided through Pickwick Capital Partners, LLC, a member of FINRA and SIPC . For more information on Secure Strategy Group, please visit http://securestrategygroup.com.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of airborne bio-threat detection systems for America's homeland defense industry as well as advanced technologies for rapid medical testing and diabetes management. Its wholly-owned subsidiary, Microfluidic Systems, is focused on the development of 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. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717
Statements about PositiveID's future expectations, including without limitation the likelihood that SSG has a strong track record assisting companies that address critical needs for homeland security; the likelihood that by working with SSG PositiveID will be able to increase value for its stockholders; the likelihood that PositiveID is at an exciting turning point in its evolution; the likelihood that PositiveID's homeland defense technology fulfills an important and unmet market need; the likelihood that through SSG's extensive relationships and industry knowledge it can accelerate PositiveID's ability to achieve its goals and capitalize on new initiatives; and all statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include, without limitation, PositiveID's ability to successfully pursue the BioWatch Generation 3 opportunity; as well as other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on March 28, 2012, as amended on May 4, 2012, and 10-Qs filed on November 16, 2012, August 20, 2012, as amended on September 12, 2012, and May 14, 2012, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.