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IDO Security Announces New Software Technology for the MagShoe(TM) SystemSoftware to Expand Loss Prevention Market (December 14, 2011)
TEL AVIV, ISRAEL -- (Marketwire) -- 12/14/11 -- IDO Security Inc. (OTCBB: IDOI), developer of the innovative MagShoe shoe scanning device (SSD), today announced that the Company has successfully completed the testing phase of the new 3GLP software aimed to expand the Company's product range for the Loss Prevention market.
The new software is designed to combat theft of small valuable metallic items such as coins, high-tech electronic parts and jewelry. This new and improved software will allow the Company to market the MagShoe for applications within the gold and silver industries, mints, electronic components manufacturing facilities, jewelry production and shops, logistical centers, warehouses and more.
"The development of this improved software version is based on years of field proven experience and feedback from our clients. We are excited about the opportunity to market the MagShoe to a wide range of businesses that are all too familiar with theft by employees and customers. The MagShoe is designed to provide our clients the ability to implement or enhance loss prevention measures within their facilities," stated Yaniv Beran, General Manager of IDO Ltd.
About IDO Security Inc.
Headquartered in New York with a subsidiary in Israel, IDO Security (OTCBB: IDOI) designs, develops and markets the patented MagShoe shoe scanning device (SSD). 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 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 and more.
For more information on the Company, please visit: http://www.idosecurityinc.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, 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, 2010, 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.
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