Implant Sciences Corp has uprooted from San Diego. The firm—which makes explosives and narcotics sensors for Homeland Security and related industries—revealed in a recent SEC filing that it has vacated the San Diego market with its “advanced technology office” and relocated the function to Wilmington, MA.
Specifically, Implant occupied an unspecified number of SF at Sorrento Creative Center 5. The move comes just months after the firm's board of directors approved a restructuring “to better align costs with current and future geographic revenue sources and to improve efficiencies,” according to documents.
The firm lost nearly $1M this past quarter, according to documents, and it lists millions in loan obligations weighing on the company. “These conditions raise substantial doubt as to our ability to continue as a going concern,” Implant officials state.
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