Formed in 1995
Entered into Cooperative Research and Development Agreement (CRDA) with TSA in 2002
Began joint development of QXR1000 with Rapiscan Systems in July 2004
Spectrum awarded $42M sole source contract by the TSA for CastScope in Oct 2007
U.S. government awards Spectrum contract worth approximately $2.0M to develop CarScan
- ultra low dose X-ray vehicle scanner in August 2007
Profile
Company History
In late 1997, on the suggestion of two young scientists, the company began working in the field of Quadrupole Resonance (QR), focusing on the development of techniques using non-invasive radio waves to detect a range of chemical compounds present in explosives and narcotics.
Company Milestones:
The Company has achieved a number of key milestones including:
May 2008 - Roll-out of CastScope to US Airports commences.
April 2008 - Company announces plans to list technology assets in the US.
April 2008 - QRSciences receives $107,000 from GE for first royalty payment on cross license of Shoe Scanner.
March 2008 - Q Video Systems continues strong momentum securing multiple contracts and rolling out several key network video system projects in conjunction with IP video management world leader Verint Video Products.
February 2008 - QRSciences Pty Ltd is awarded contract with maximum funding of $850,000 from Australian Federal Government for work on electromagnetic methods for air cargo screening.
February 2008 - QRSciences secures exclusive distribution agreement with Los Angeles based Astrophysics.
February 2008 - Siemens Government Services contracted for maintenance and service on CastScope roll-out.
January 2008 - QRSciences announces move to cash flow positive position.
October 2007 - Spectrum is awarded sole source contract by the U.S. Transportation Security Administration (TSA) for its CastScope screening system. The Indefinite Delivery Indefinite Quantity (IDIQ) contract has a total contract value of $42M upon exercise of all options including maintenance, service and training support.
August 2007 - Spectrum is awarded U.S. government contract worth approximately AU$2.0M to develop CarScan , an ultra low dose x-ray vehicle scanner capable of detecting car bombs, hidden persons and other contraband.
May 2007 - Department of Transport and Regional Services (DOTARS) conducts air cargo trials of the QXR1000.
February 2007 - QRSciences announce finalisation of acquisition of the business and key assets of Baxall Australia Pty Limited and change of name to Q Video Systems.
January 2007 - QRSciences announces project with HM Customs to use QR technology to detect an undisclosed narcotic substance. Testing commences at Heathrow Airport, London.
January 2007 - QRSciences announces its first sale in the Middle East through its alliance with Singapore Technologies.
September 2006 - Announces it has entered into an agreement to collaborate with leading pharmaceutical manufacturers AstraZeneca (AZ), Merck, Sharp and Dohme (MSD) and King's College London (KCL) to develop a QR-based pharmaceutical analysis instrument.
September 2006 - Singapore Technologies Electronics commences sales and marketing of QRSciences' explosive detection technology in several countries in the Asian region and parts of the Middle East after completing a successful working trial with the Singaporean Immigration and Checkpoint Authority.
August 2006 - QRSciences announces the appointment of former Speaker of the House, Bob Halverson, OBE, as a Non-Execuitve Director.
July 2006 - QRSciences completes agreement with Spectrum San Diego to be the exclusive distributor of SentryScope video surveillance systems to Australia, New Zealand, Japan, Taiwan and India.
June 2006 - QRSciences executes letter of intent to acquire the business and key assets of Baxall Australia Pty Limited from Baxall UK.
June 2006 – QRSciences coordinates testing with Her Majesty’s Customs and Australian Customs Service to look at the capability of the company’s QR technology for narcotic detection.
June 2006 – QRSciences announces it has reached a $33 million agreement with Rapiscan Systems giving Rapiscan preferred pricing and licensing rights over technology developed by QRSciences, making the technology part of the Rapiscan QXR1000 baggage and package screening system.
June 2006 – QRSciences announces the company has received important recognition from the US and Australian Governments following official meetings in Washington.
May 2006 – QRSciences finalises an agreement to cross license a suite of patent and patent applications with GE security.
February 2006 – QRSciences finalises a transaction for the acquisition of up to 27.4 % of Spectrum San Diego Incorporated.
January 2006 – QRSciences signs a contract with the Australian Customs Service for work on an advanced weapon detection system for international mail and package inspection.
January 2006 – QRSciences announces the development of an Advanced Metal Detection Technology (AMDS) that will be available for commercial sale in the future.
December 2005 – QR technology is unveiled and demonstrated to the Australian Government at Parliament House, Canberra.
November 2005 – QRSciences announces its entry into the pharmaceutical analysis quality control and assurance market.
November 2005 – QRSciences commences a working trial with the Singaporean Immigration and Checkpoint Authority at a major checkpoint used by more than 100,000 people daily.
October 2005 – QRSciences enters into a term sheet to acquire up to 27.4% of US-based Spectrum San Diego Incorporated with an option to purchase the remainder of Spectrum’s common stock up until December 2008.
October 2005 – QRSciences commences a pilot program of combined QR and X-ray systems with Gilardoni SPA at an undisclosed primary airport in Italy.
September 2005 - QRSciences secures $5 million Equity Working Capital Facility.
September 2005 - T3-03 unit developed and released.
September 2005 - Joseph Paresi is appointed as a Non-executive Director. Joseph is the former President of L3 Security & Detection Systems, a leading supplier of X-ray security screening systems and metal detectors.
August 2005 – QRSciences bolsters its Board of Directors with the appointment of international aviation security expert Norman Shanks www.nsai.co.uk .
July 2005 – QRSciences partners with world leading scanning technology company Rapiscan Systems, a wholly owned subsidiary of Los Angeles based OSI Systems (Nasdaq: OSIS), releasing its QXR1000 product targeting the international aviation security market. QXR1000 adds a completely new layer of explosive detection capability and functionality to the approximately 2000 X-Ray systems deployed at carry-on checkpoints at U.S. airports.
July 2005 - QRS retains New York based Strategic Growth International Inc. as investor relations advisor.
June 2005 - QRSciences issues initial revenue guidance.
June 2005 – QRSciences is awarded AUD$2.8 million AusIndustry Grant from the Australian Government to support continued development and commercialisation of Quadrupole Resonance (QR) explosive detection systems.
May 2005 - First C3-03 unit (for QXR1000) delivered to Rapiscan Systems, Los Angeles.
May 2005 - QRSciences IP portfolio reaches 17 patents and patent applications.
May 2005 - First QR patent for pharmaceutical analysis filed.
April 2005 - QRS Holdings Ltd completes takeover of QRSciences Ltd.
April 2005 - T3-02 unit delivered to China Institute of Atomic Energy, China.
April 2005 - CEO relocates to US to pursue strategic growth opportunities.
March 2005 - Cooperative Research & Development Agreement with TSA (Transportation Security Administration) extended to April 2007.
March 2005 – US office expands to five employees.
February 2005 – The company’s shares trade in the U.S. over the counter (OTC) market via American Depository Receipts (ADR) under the code of QRSHY.
February 2005 - US office established in San Diego, CA.
February 2005 - T3-02 demonstrated at prestigious DEMO@15! conference in Scottsdale, Arizona.
January 2005 - QRSciences awarded TSA development contract for QR signal processing.
November 2004 - QRSciences wins prestigious Guy Manson award for most promising technology company at the 2004 ANZA Technology Network Conference in Silicon Valley.
August 2004 – QRSciences enters into a Memorandum of Understanding (MOU) with the Chinese Institute of Atomic Energy (CIAE) to assist with the development of security screening systems for the 2008 Olympic Games to be held in Beijing. CIAE has been tasked by the Olympic Committee in China to build prototype screening systems for radioactive materials, explosives, weapons and drugs and are seeking the assistance of QRSciences with the project.
August 2004 - Rapiscan Systems signs contract for two C3-03 systems.
July 2004 - QRSciences and Rapiscan Systems begin joint development of QXR1000.
June 2004 - Perth airport trial of prototype shield detection system.
February 2004 - Rapiscan systems funded by TSWG to develop QXR1000.
January 2004 - Two machines delivered to L-3 in Boston.
December 2003 - T3-02 prototype completed.
November 2003 - T3000 Machine successfully delivered to and accepted by Rapiscan.
November 2003 - L-3 Communications completes due diligence and finalises license agreement.
November 2003 - Joint applications between QRSciences and Rapiscan submitted to TSWG for development funding of combined QR / X-ray systems.
September 2003 - Rapiscan completes due diligence and finalises license agreement.
August 2003 - Machine successfully delivered to and accepted by Lockheed Martin.
June 2003 – The company enters into a technology licensing agreement with a leading supplier of high quality X-ray screening and explosive detection systems.
February 2003 - Lockheed Martin completes due diligence and signs a technology licensing agreement.
November 2002 - Memorandum of Understanding signed with Lockheed Martin.
October 2002 – QRS technology is approved as an advance detection technology by TSA.
September 2002 – The company enters into a long term exclusive license with BTG International Ltd. QRSciences has taken a worldwide exclusive license over 14 QR patent families owned by BTG and developed by Professor John Smith at King's College London.
April 2002 - An advanced prototype was successfully tested as an Advanced Technology (AT) explosives detection system (EDS) by TSA. The testing was conducted under a Cooperative Research and Development Agreement between FAA William J. Hughes Technical Center and QRSciences, as part of the TSA explosive detection system development and testing programme.
March 2002 – TSA signs a Cooperative Research and Development Agreement (CRDA) with QRSciences.
June 2001 – Prototype tested at Ottawa Airport, Canada by Norman Shanks Associates International (NSAI) for the Air Traffic Service Communication (ATSC) with the Explosive Ordnance Disposal (EOD) of the Royal Canadian Mounted Police.
February 2001 – Prototype tested by the Police Scientific Development Branch (PSDB) and the UK Home Office in London.
August 2000 – Company completes development of first explosives detection prototype and successful trials at Perth Airport, Australia and Manchester Airport, UK.
September 1999 - Landmine and postal scanning work halted and total focus of R&D is placed upon Aviation Security.
August 1998 - Detection of a range of explosives achieved.
January 1998 - Company begins building QR team.
December 1997 - Company suspends R&D on all other technologies and concentrates entirely upon QR.
January 1996 - President Clinton commissions Al Gore to review Aviation Security. QR technology identified by Gore Commission as a likely technology for inclusion in aviation security systems.
November 1995 - Initial work on Ground Penetrating Radar and RF technology primarily for minerals and land mine detection.
November 1995 – Company formed.