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Wed, September 16, 2009 IDO Security, Inc.: IDO Security Announces R&D Joint Venture With Emisens of Germany to Develop Explosive Substance Detection C
TEL AVIV, ISRAEL--(Marketwire - September 16, 2009) - IDO Security, Inc. (
"IDO Security wishes to further complement and expand the proven metal detection capabilities of the MagShoe™ 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™," 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™ weapons metal detection system. MagShoe™ fills a critical void in today's metal detectors by extending screening to the lower body and feet. MagShoe's™ 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™ 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.
