IDO Security, Inc. (OTC.BB:IDOI), developer of the innovative MagShoe� shoe scanning device (SSD), continues to market its patented shoe scanning device (SSD), MagShoe� 3G series across the globe. The MagShoe� not only provides a safe and secure shoes-on weapons metal detection solution that can be easily incorporated to existing screening devices, but also provides a system that is comfortable and convenient for travelers.
“There has been an endless outcry from the public with regards to the new pat-down and full body scan procedures that have been implemented by TSA at the airports as well as pleas by the head of the TSA asking travelers for their patience and cooperation as we head into one of the busiest travel seasons,” said President and CEO of IDO Security, Michael Goldberg. “We continue to reach out to officials across the world with urgency to act on this outcry and provide travelers an increased security presence while also giving them sense of privacy and comfort at a time where security threats are at their highest.”
IDO Security developed a patented technology to change security screening from the bottom-up. The MagShoe� offers a convenient step-on device that extends security screening and metal detection to include the ankles and feet, without requiring shoe removal. The MagShoe� is ideal in venues such as airports, seaports, border crossings, courthouses, prisons, and even at schools and sporting events in stadiums.
“We live in an era where terror has affected someone, somewhere around the world, and we hear about it on a daily basis. Let there be no mistake, we agree that there is a need to increase security screening in airports, prisons and such, however this can be done in a less intrusive manner without having to have people feel violated and humiliated,” added Goldberg.
Headquartered in New York with a subsidiary in Israel, IDO Security designs, develops and markets the patented shoe scanning device (SSD), MagShoe�. MagShoe� fills 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. The MagShoe� is neither as 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 at international airports, cruise lines, government agencies and more.
In the latest Company news, IDO Security, Inc. announced that as a result of a successful field trial the Company has received a Letter of Intent for its first multi-site deployment of the new MagShoe 3G� Series issued by IDO Security’s local agent, Birmingham, UK-based Scan-X Security Ltd.
“We are very pleased with the way things are developing for the new 3G series. Our efforts in Europe during the last few months have proven that the multiple pilots and trial runs are an effective means of demonstrating the MagShoe to potential large clients and ultimately receiving orders,” stated IDO Security’s International Sales & Marketing Manager, Dani Werber.
Micromet, Inc (Nasdaq:MITI) announced the closing of its previously announced underwritten public offering of 9.9 million shares of its common stock. The Company received net proceeds from the offering of approximately $70.5 million, after deducting estimated offering expenses. The Company plans to use the net proceeds from the financing primarily for general corporate purposes, which may include research and development, capital expenditures, working capital and general and administrative expenses.
Micromet Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of antibodies for the treatment of cancer, inflammation, and autoimmune diseases.
China Techfaith Wireless Communication Technology Ltd. (Nasdaq:CNTF) announced its unaudited financial results for the third quarter ended September 30, 2010. For the third quarter of 2010, TechFaith reported net revenue of US$ 68.6 million (RMB 464.3 million), a 30% increase compared to US$ 52.8 million (RMB 360.7 million) in the third quarter of last year. Gross margin for the third quarter of 2010 was 24% compared to 19% in the same quarter last year. Income from operations for the third quarter of 2010 was US$ 9.0 million (RMB 60.9 million), a 61% increase compared to US$ 5.6 million (RMB38.3 million) in the same quarter last year. Net income attributed to TechFaith for the third quarter of 2010 was US$ 4.3 million (RMB 29.1 million), compared to a loss of US$ 3.4 million (RMB 23.2 million) in the same quarter last year.
China Techfaith Wireless Communication Technology Limited, together with its subsidiaries, operates as an original developed products provider that is focused on the original design and development of handsets.
Henry Bros. Electronics, Inc. (Nasdaq:HBE ) announced that the amended merger agreement with Kratos Defense & Security Solutions Inc. (�Kratos�) to acquire all outstanding shares of Henry Brothers at $8.20 per share in cash will move forward. Discussions with a third party that had submitted a previously announced non-binding proposal to acquire all of the outstanding shares of HBE common stock for $8.00 per share in cash have ended. HBE�s Board of Directors continues to unanimously recommend the proposed merger with Kratos. A stockholder meeting to vote on the proposed merger between HBE and Kratos has been scheduled to take place on December 9, 2010.
Henry Bros. Electronics, Inc., together with its subsidiaries, operates in the electronic physical security industry that provides technology-based integrated electronic security systems, services, and emergency preparedness.
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