PositiveID Corp (OTCMKTS:PSID) has announced the finalization of a co-marketing deal with Directview Holdings Inc (OTCMKTS:DIRV). DIRV has been making a lot of news, with much of the hype surrounded by its wearable body cameras. PSID aims to be a part of the marketing process for this device, which is mostly to be sold to homeland security and first responders. Additionally, the company has also released updates regarding its Firefly Dx prototype system for real-time medical diagnostics.
The CEO of PositiveID, William J. Caragol, expressed his delight at the co-marketing agreement with DIRV. The deal covers the soon to be launched wearable body cameras, amongst other surveillance equipment from Directview. However, it should be noted that the agreement is based on meeting certain marketing objectives. PSID revealed that the company plans to add the products from the agreement to its own portfolio. Additionally, PSID stated that the company expects to reach more deals of this nature. PSID already has links in the homeland security department, where it provides biological detection systems.
The company also put its newly developed Firefly Dx system through 12-different tests. The tests were conducted by the company and a third party, separately so as to confirm the results. It was concluded that the system can detect all pathogens, in less than 20-minutes. The system has been developed, keeping in mind, the need for quick and efficient detection systems. Unlike current lab tests, the Firefly does not need additional equipment for sample research and purification. Since the test eliminates a number of procedures from the equation, it is significantly cheaper than conventional tests. Having a real-time diagnostic system means that medical assistance can be provided on a point of need basis. The application of this device covers a large area, which is not only limited to human health. It can also be used for agriculture and military applications.
PositiveID Corp (OTCMKTS:PSID) traded a total of 11.12 million shares during the June 23 session to reach a closing price of $0.0374, after registering a rise of 5.06%.