Market Wire “US Press Releases “
TEL AVIV, ISRAEL — (MARKET WIRE) — 09/16/09 –
IDO Security, Inc. (OTCBB: IDOI)
(www.idosecurityinc.com), developer of the innovative MagShoe(TM)
“shoes-on” weapons metal detection system, today announced that the company
has signed an Agreement for Cooperation and Joint Venture Research and
Development with German firm Emisens GmbH (www.emisens.com). Emisens GmbH
is a spin off from the world renowned Juelich Research Center
href=”http://www.fz-juelich.de%29/”>(www.fz-juelich.de) of Germany.
“IDO Security wishes to further complement and expand the proven metal
detection capabilities of the MagShoe(TM) line with the addition of the
proposed explosive detection capabilities developed by Emisens. This
agreement is based on the accumulated and proven experience of IDO in the
metal detection marketplace as well as the proven electromagnetic
identification and explosive sensing technologies researched for and
developed by Emisens. Furthermore, the agreement will contribute to IDO
Security’s ongoing effort to increase the level of security attainable by
the MagShoe(TM),” stated IDO President, Michael Goldberg.
Mr. Goldberg further stated, “We feel privileged to have the opportunity to
attempt to develop what would be a total security solution for both metal
and liquid security threats with such a first rate team of scientists and
engineers that Emisens will bring to the equation.”
Emisens CEO, Dr. Norber Klein, added, “It is a privilege for Emisens to
collaborate with IDO. We see great opportunities to explore exciting new
applications of our sensor technology in combination with the
scientific staff and advanced metal detection technology of IDO to create a
product that will significantly increase the current level of security
available today.”
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About IDO Security
Headquartered in New York with a subsidiary in Israel, IDO Security
designs, develops and markets the patented, UL-certified MagShoe(TM)
weapons metal detection system. MagShoe(TM) fills a critical void in
today’s metal detectors by extending screening to the lower body and feet.
MagShoe’s(TM) unique “shoes-on” design maximizes security, thoroughness and
accuracy while eliminating the need to remove shoes for increased
convenience and safety. Ideal for security and loss prevention at virtually
any facility, MagShoe(TM) is currently in use at international airports,
cruise lines, government agencies, prisons and more.
About Emisens
Emisens GmbH (www.emisens.com) was founded in 2007 as an R&D oriented
spin-off company from Juelich Research Center (www.fz-juelich.de), one of
the largest and most prestigious research centers in Europe. Its scientific
foundation is the electromagnetic sensor research in Juelich, which has
enjoyed an international reputation for more than ten years. Based in
Juelich, Germany, Emisens deals specifically with the research and
development, manufacturing, marketing and selling of Systems for
Electromagnetic Identification and Sensing of explosive substances.
EMISENS systems enhance security for luggage and passenger control in
airports. Extremely short time for analysis and easy handling enables the
integration in existing checkpoints. Furthermore, Emisens sensor systems
enable new challenges for process control, food inspection, and medical
diagnostics based in Juelich, Germany.
Forward-Looking Statements:
This press release contains forward-looking statements that involve
substantial uncertainties and risks. These forward-looking statements are
based upon our current expectations, estimates and projections about our
business and our industry, and that reflect our beliefs and assumptions
based upon information available to us at the date of this release. We
caution readers that forward-looking statements are predictions based upon
our current expectations about future events. These forward-looking
statements are not guarantees of future performance and are subject to
risks, uncertainties and assumptions that are difficult to predict. Our
actual results, performance or achievements could differ materially from
those expressed as a result of a number of factors, including but no
limited to, the sufficiency of existing capital resources, uncertainties
related to the development of IDO’s business plan, the ability to secure
additional sources of financing, general economic conditions, the
availability of competing products and the ultimate market acceptance of
our products changes in technology, legislative or regulatory changes that
affect us and the risks and uncertainties discussed under the heading “RISK
FACTORS” in Item 1A of IDO’s Annual Report on Form 10-K for the year ended
December 31, 2008, and in our other filings with the Securities and
Exchange Commission. We undertake no obligation to revise or update any
forward-looking statement for any reason.
COMPANY CONTACT: Michael Goldberg 646-214-1234 Email Contact MEDIA CONTACT: Mike Elliott Email Contact
