NEW YORK, NY--(Marketwire - Dec 6, 2012) - IDO Security, Inc. (OTCBB: IDOI), developer of the innovative MagShoe™ shoe scanning device (SSD), today announced that that it has retained Secure Strategy Group for strategic and financial advisory services.
IDO Security, Inc. engages in the design, development, and marketing of shoe scanning devices (SSD) for the homeland security and loss prevention markets in the United States and internationally. The Company's SSD products are used for security screening procedures to detect metallic objects concealed on or in footwear, ankles, and feet through the use of electro-magnetic fields. IDO's flagship MagShoe™ shoe scanner addresses the need for conducting a personal screening of footwear and the ankle area without the need for removing the footwear. IDO has successfully deployed its technology in a diverse set of vertical markets around the world, including educational institutions, prisons, commercial aviation and maritime facilities, rail transportation, shopping centers/places of entertainment, business facilities, bus and train stations, border crossings, government institutions/buildings, critical infrastructure, and defense facilities.
Scott Greiper, President of Secure Strategy Group, commented, "IDO's MagShoe™ technology fulfills a real gap in the marketplace and has established reference accounts in key end users markets. We believe that with additional support, visibility and resources the Company can penetrate other key vertical markets that have security and/or loss prevention requirements. Moreover, we believe that the Company can execute a strategic acquisition strategy that can accelerate IDO's growth, broaden its IP/product line and further diversify its revenue base. We're excited to partner with the Company to help it achieve its goals."
Michael Goldberg, CEO of IDO Security, commented, "We are excited to have been able to bring Secure Strategy Group aboard. Their capabilities and experience in the homeland security field both nationally and internationally are second to none. We believe that their prior successes with companies such as ours and their broad reach can only serve to significantly enhance IDO'S prospects for the future."
About IDO Security, Inc.
Headquartered in New York with a subsidiary in Israel, IDO Security designs, develops and markets the patented MagShoe™ shoe scanning device (SSD), filling a critical void in today's detectors by extending screening to the lower body and feet. MagShoe™'s "shoes-on" design maximizes security, thoroughness and accuracy while eliminating the need to remove shoes for increased convenience and safety; neither invasive nor harmful to the body as some of the other screening devices currently used in the marketplace. Ideal for security and loss prevention at virtually any facility, MagShoe™ is currently in use worldwide at international airports, cruise lines, government agencies, correctional facilities, mints and more.
For more information on IDO Security please visit the Company's website at http://www.idosecurityinc.com.
For more information on Secure Strategy Group please visit http://www.securestrategygroup.com.
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 not limited to, anticipated trends and challenges in our business and the markets in which we operate, our expectations regarding our expenses and revenue, the ultimate market acceptance of our products, the sufficiency of existing capital resources, our plans for future products and enhancements of existing products, the ability to secure additional sources of financing, general economic conditions, the availability of competing products and 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, 2011, and in our other filings with the Securities and Exchange Commission at www.sec.gov. We undertake no obligation to revise or update any forward-looking statement for any reason.