Investors may applaud the news coming from VIASPACE Inc. (OTCBB: VSPC)! Yesterday after the stock markets closed, the company, dedicated to commercializing proven technologies from NASA and the US Department of Defense, issued a press release after the stock markets closed, announcing that that the United States Patent and Trademark Office has issued US patent number 7174703 to VIASPACE subsidiary Ionfinity. The patent entitled "Ion Thruster System" covers the use of Ionfinity's proprietary soft-ionization membrane in an ion thruster engine to power spacecraft and for spacecraft control.
This is great news. It was previously announced that Ionfinity was awarded a Phase II STTR contract extension and additional funding by the U.S. Air Force on September 30, 2006 to develop, jointly with Aerospace Corp. and the NASA Jet Propulsion Laboratory, a soft ionization membrane to be used as a micro ion engine for micro and nano satellite station keeping.
The soft ionization membrane is a proprietary and patented technique to produce ion beams. The technology is also being applied to the mass spectrometry market where it is expected to provide a large increase in sensitivity with a large reduction in size and cost. In addition, the soft ionization membrane is expected to enable a new generation of sensors for detecting chemical and biological warfare agents, narcotics and explosives. Ionfinity is pursuing these applications under separate contracts from the US Army and Navy.
This continues to be a stock for speculative investors to watch! VIASPACE continues to build on its impressive portfolio of patents representing groundbreaking government R&D and investment licensed from the California Institute of Technology, operator of NASA's Jet Propulsion Laboratory. Recently the company has filed several patent applications surrounding its methanol fuel cartridges, soft ionization membrane technology and automated threat detection system.
As reported, VIASPACE has been awarded several government contracts, bolstering its position in the thriving security and defense industries. Subsidiary VIASPACE Security, whose name has been changed from Arroyo Sciences to reflect its business focus, holds a contract to provide sensor data fusion software to L-3 Communications for a US Department of Homeland Security program to enhance port security. In October 2006, VIASPACE subsidiary Ionfinity was awarded a Phase II STTR contract extension and additional funding by the US Air Force to develop, jointly with Aerospace Corp. and the NASA Jet Propulsion Laboratory, a soft ionization membrane to be used as a micro ion engine for micro and nano satellite station keeping. Ionfinity has also been awarded a Phase I STTR contract by the US Army to design and prototype a field portable, highly efficient, integrated system for detection and identification of chemical agents such as industrial toxic gases and chemical components of Improvised Explosive Devices (IEDs). In August 2006, Ionfinity received a Phase I STTR contract from the US Navy to develop a novel, miniaturized chemical sensor system capable of detecting chemical and biological weapons, explosives, and illegal drug residues in the holds and storage bays of suspect vessels.
A Stock Market Alerts profile of VIASPACE Inc. can be found at: http://www.wallstreettradingalerts.com/VSPC021207.html
The Dutton Associates upgrade of VIASPACE Inc. from Neutral to Speculative Buy and upgrading 2007E revenue estimates can be found at: http://www.jmdutton.com/research/VSPC/index.html
A Market Advisors report on VIASPACE, placing a $2.05 per share price target on the company's stock can be seen at: http://www.SmallCapStockWatch.com
Before the company's news was released, the stock closed on Monday at Fifty Seven cents a share.
About VIASPACE: Originally founded in 1998 with the objective of transforming proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions that solve today's complex problems, VIASPACE benefits from important patent and software licenses from Caltech, which manages NASA's Jet Propulsion Laboratory. VIASPACE has two main subsidiaries, Direct Methanol Fuel Cell Corporation and VIASPACE Security Inc. which focuses on maritime/container security, surveillance and automated threat detection.
Other Stocks of interest yesterday were:
Adobe Systems Incorporated (NASDAQ: ADBE) up 1% on 6.7 million shares traded. Adobe revolutionizes how the world engages with ideas and information -- anytime, anywhere and through any medium.
The Mosaic Company (NYSE: MOS) up 5.3% on 5.8 million shares traded. The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients.
Honeywell (NYSE: HON) down 0.3% on 2.9 million shares traded. Honeywell International is a $31 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.
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