OSI Geospatial Inc OSIIF

New contract

[Bankorruptsee]

OSI Geospatial Awarded US$2.8 Million Contract with the U.S. Army
8:51AM ET on Tuesday Jul 27, 2010 via CNW Group

OSI Geospatial Inc. (TSX: OSI) announced today that its U.S. Operations has been awarded a contract with the U.S. Army valued at approximately US$2.8 million. Under the terms of this contract, the Company will develop advanced medical training technology. The revenue from this contract will be realized over the next 12 months. The Company expects to be awarded a follow-on contract of similar value in the third quarter of 2011.

"This is a very important program, and I am pleased that we will have the opportunity to develop and deliver a quality training solution for the U.S. Army," said Ken Kirkpatrick, president and CEO of OSI Geospatial. "We are pleased to be expanding our relationship with the U.S. Army and strongly believe that we are well positioned to leverage this contract to develop future opportunities for the Company."

Interesting. It's not enough to jump up and down about.

And what the hey.... They are going to do "medical tech".... whazzupwitdat?