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IDO Security Inc. Message Board

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  • ctropin2 ctropin2 Oct 20, 2009 10:44 PM Flag

    A reply from the CEO....

    As to the TSA and airports, we never intimated that we were close or in testing. Some bloggers may have but we have never supported that idea. Quite the contrary. We found out last year that the TSA was going to require explosive detection technology as part of a shoe scanner despite the fact that such a technolgy does/did not exist. We have been looking for a partner that was close to having it for two years and a few weeks ago, after a continuing thorough world wide search, we did our deal with Emisens to attempt to jointly develop such a product. While not many airports require this, we believe that Great Britain will also require same. Further, some countries have now given notice that RFP'S for shoe scanners will be forthcoming( without explosive detection technology). Unfortunately, we were far ahead of this market and are only now being viewed seriously for our value !
    We have built what we feel is an excellent distribution network and where we have gotten no sales we are and will replace these distributors after an appropriate time. That distribution network is tasked with bringing in new markets. To this end, we have developed concrete improvements to our product and you have seen these in our press releases. These are no small feats and have been done at the request of potential clients by an amazing team of dedicated scientists and engineers within a very small budget.
    We have never called a pilot a sale, so all sales have been real sales and paid for upon delivery of the units. Our pilots have been announced as such and are not sales.
    As for the worldcup, we have not heard back and with the date rapidly approaching, you can assume the negative and be pleasantly surprised if it goes the other way. We did not ,however, lose out to any other shoe scanner.
    As we are beginning to break into additional markets and as our product evolves to meet potential client requests, our biggest concern remains access to capital markets. We are trying hard in the toughest financial market in years to access the capital that we need.
    I do not know why the share price of any stock, especially ours goes up or down but I suspect in our case the worry is ability to access these fragile capital markets. In this, IDO is far from alone.
    There are unfortunately, some issues that the SEC financial disclosure rules and regulations prohibit me from answering at this time. Notwithstanding, it is never our intent to be vague or misleading. We want our shareholders to be informed. I ask humbly, that you pay attention only to what the company publishes and dismiss blogs, or comments made in any other format.
    I hope this response brings some clarity to your questions. I will again state, that you should watch closely for our upcoming PR'S which I believe is the proper place to say what is being done to break new markets and bolster sales.
    Suffice it to state, we are not sitting idle !!!
    M Goldberg

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