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NEWPORT
BEACH, Calif., Nov. 29, 2007 -- World Am, Inc. (OTCBB: WDAM)
today reported that its Senz-It, Inc. subsidiary has been
awarded a United States Air Force biological development
contract, worth up to $417,000. Under terms of the agreement,
Senz-It will have the opportunity to prove the feasibility of
its detection technology by providing test stations to detect
and measure biological substances that are potential threats
to the U.S. military.
Under
the terms of the agreement, the company will be reimbursed for
expenses, up to $417,000, spent to set up and test its
detection technology for the United States Air Force. The
company also announced that it has already submitted a
proposal for a follow-on second phase of this detection effort
that, if granted, could lead to additional fees of $1,400,000
in 2008.
“This
project will enable the Air Force Institute for Operational
Health’s Applied Technology Center, at Brooks City Base
in Texas, to evaluate Senz-It’s patented technology and
compare it with other testing methodologies,” said
Robert A. Hovee, World-Am's Chairman and CEO.
“This
award is a major milestone in our commercialization
efforts,” Mr. Hovee said. “It underscores the
significant potential applications of Senz-It’s
cutting-edge technology.
“This
initial development assignment from the Air Force is intended
to launch and deploy a new generation of detection
technologies to identify and quantify potential threats to our
military’s safety.
“The
ability to create a platform that provides the instant,
simultaneous measurement of chemical and biological analytes
is the goal,” said the CEO.
“Confirming
our technology’s promise, by successfully performing
under this Air Force development contract, would help
substantiate our belief in this technology. The second phase
would continue the efforts covered under the init
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