IDO Security Retains Secure Strategy Group
Leading Provider of Shoe Scanning Devices for Security and Loss Prevention
NEW YORK, NY, Dec 06, 2012 (Menafn - MARKETWIRE via COMTEX) --IDO Security, Inc. IDOI, developer of the innovativeMagShoe(TM) shoe scanning device (SSD), today announced that that ithas retained Secure Strategy Group for strategic and financialadvisory services.
IDO Security, Inc. engages in the design, development, and marketingof shoe scanning devices (SSD) for the homeland security and lossprevention markets in the United States and internationally. TheCompany's SSD products are used for security screening procedures todetect metallic objects concealed on or in footwear, ankles, and feetthrough the use of electro-magnetic fields. IDO's flagshipMagShoe(TM) shoe scanner addresses the need for conducting a personalscreening of footwear and the ankle area without the need forremoving the footwear. IDO has successfully deployed its technologyin a diverse set of vertical markets around the world, includingeducational institutions, prisons, commercial aviation and maritimefacilities, rail transportation, shopping centers/places ofentertainment, business facilities, bus and train stations, bordercrossings, government institutions/buildings, criticalinfrastructure, and defense facilities.
Scott Greiper, President of Secure Strategy Group, commented, "IDO'sMagShoe(TM) technology fulfills a real gap in the marketplace and hasestablished reference accounts in key end users markets. We believethat with additional support, visibility and resources the Companycan penetrate other key vertical markets that have security and/orloss prevention requirements. Moreover, we believe that the Companycan execute a strategic acquisition strategy that can accelerateIDO's growth, broaden its IP/product line and further diversify itsrevenue base. We're excited to partner with the Company to help itachieve its goals."
Michael Goldberg, CEO of IDO Security, commented, "We are excited tohave been able to bring Secure Strategy Group aboard. Theircapabilities and experience in the homeland security field bothnationally and internationally are second to none. We believe thattheir prior successes with companies such as ours and their broadreach can only serve to significantly enhance IDO'S prospects for thefuture."
About IDO Security, Inc. Headquartered in New York with a subsidiaryin Israel, IDO Security designs, develops and markets the patentedMagShoe(TM) shoe scanning device (SSD), filling a critical void intoday's detectors by extending screening to the lower body and feet.MagShoe(TM)'s "shoes-on" design maximizes security, thoroughness andaccuracy while eliminating the need to remove shoes for increasedconvenience and safety; neither invasive nor harmful to the body assome of the other screening devices currently used in themarketplace. Ideal for security and loss prevention at virtually anyfacility, MagShoe(TM) is currently in use worldwide at internationalairports, cruise lines, government agencies, correctional facilities,mints and more.
For more information on IDO Security please visit the Company'swebsite at http://www.idosecurityinc.com.
For more information on Secure Strategy Group please visithttp://www.securestrategygroup.com.
This press release contains forward-looking statements that involvesubstantial uncertainties and risks. These forward-looking statementsare based upon our current expectations, estimates and projectionsabout our business and our industry, and that reflect our beliefs andassumptions based upon information available to us at the date ofthis release. We caution readers that forward-looking statements arepredictions based upon our current expectations about future events.These forward-looking statements are not guarantees of futureperformance and are subject to risks, uncertainties and assumptionsthat are difficult to predict. Our actual results, performance orachievements could differ materially from those expressed as a resultof a number of factors, including but not limited to, anticipatedtrends and challenges in our business and the markets in which weoperate, our expectations regarding our expenses and revenue, theultimate market acceptance of our products, the sufficiency ofexisting capital resources, our plans for future products andenhancements of existing products, the ability to secure additionalsources of financing, general economic conditions, the availabilityof competing products and changes in technology, legislative orregulatory changes that affect us and the risks and uncertaintiesdiscussed under the heading "RISK FACTORS" in Item 1A of IDO's AnnualReport on Form 10-K for the year ended December 31, 2011, and in ourother filings with the Securities and Exchange Commission atwww.sec.gov. We undertake no obligation to revise or update anyforward-looking statement for any reason.
SOURCE: IDO Security, Inc.
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