DHS Funded Rail Undercarriage Program
JACKSONVILLE, FL / ACCESSWIRE / May 14, 2015 / Information Systems Associates Inc.'s (IOSA) wholly-owned subsidiary Duos Technologies ("duostech"), a provider of intelligent security analytical technology solutions, has been awarded a contract for the first phase of a Rail Undercarriage Screening System research grant funded by the Department of Homeland Security (DHS) Science and Technology Directorate (S&T). This contract is the first phase of a multi-phased approach that aims to advance the state of the Company's technology currently used for freight railcar undercarriage screening to Mass Transportation Rail Systems and is expected to expand the capabilities of duostech's Vehicle Undercarriage Examiner (vue(TM)) system.
The vue(TM) system is part of Duos Technologies' Rail Inspection Portal technology, the Company's latest innovation that combines several of its intelligent technologies and sub-systems that utilize the Company's proprietary analytical algorithms to process and evaluate a broad range of data from multiple sensor technologies.
A critical component of the DHS mission includes securing transportation systems from attacks using explosives. This includes the detection of explosive threats as well as providing information to assist with interdiction efforts to mitigate potential threats. In order to meet these challenges, new real-time detection tools are necessary to rapidly alert operators to the presence of physical anomalies consistent with explosive threats, associate these anomalies with locations within a rail car's undercarriage, and synthesize and disseminate pertinent information to operational support staff so they can make better informed decisions, expeditiously.
"We are excited to have been selected to participate in this opportunity and are poised to continue to demonstrate the ability to adapt our intelligent technologies, processes, and delivery to meet challenging customer needs," stated Felix Krupczynski, EVP & GM for ISA Duos Technologies. "Our solutions address specific challenges to rail security for not only the mass transit market, but for all transportation industry security requiring enhanced inspection and detection."
Gianni Arcaini, Chairman and CEO of ISA Duos Technologies, stated, "This contract award further validates our technology as being mission critical in high security analysis applications. We believe there is a huge market opportunity for our suite of intelligent security analytical technology solutions in the rail market, and in several other sectors as well."
About Information Systems Associates Inc./Duos Technologies Inc.
Information Systems Associates Inc. (OTC Markets: IOSA), based in Jacksonville, FL, provides intelligent security analytical technology solutions with a strong portfolio of intellectual property. Its Duos Technologies' core competencies include advanced intelligent technologies that are delivered through its proprietary integrated enterprise command and control platform, centraco(TM). The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail, utilities, petrochemical, healthcare, and hospitality sectors. ISA also offers IT, professional services and consulting services for information technology projects.
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, our ability to successfully progress beyond the first phase of the award, the success of our efforts to develop our proprietary technology solutions to meet changing needs, the market acceptance of our technology solutions, the successful application of our security analytical technology beyond the realm of railroad screening procedures, our ability to tap into the relevant potential markets, the sufficiency and availability of working capital and general changes in economic conditions. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2014. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to revise or update any forward-looking statement for any reason.
SOURCE: Information Systems Associates Inc.
Released May 14, 2015