Valley Forge Composite Technologies Enters into Two Agreements for THOR-LVX Photonuclear Detection System

December 10 2012

Valley Forge Composite Technologies, Inc., developer of state-of-the-art detection systems, including the THOR-LVX photonuclear detection system, apprised that it has entered into two agreements which will provide for updating the electronics, hardware and software of its THOR-LVX photonuclear detection system. The Company executed the agreements on November 28, 2012 and the Company believes the aggregate cost of the agreements to the Company will be approximately $1,160,000 (U.S. currency). The result of this work is anticipated to improve signal collection and processing as well as reduced cost of the entire system. The Company believes this work falls under the current pending patent applications as the method and apparatus for detection are not changed. This modernized variant is being constructed and should be shipped for any first sale of THOR-LVX photonuclear detection system. The agreements are with Minitron of the Russian Federation and include numerous scientists who participated in the original Non-Proliferation Cooperative Research and Development Agreements (CRADA). The work is scheduled for completion sometime in 2013.

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