IDO Security Sells MagShoe Through New Russian Distributor, Borlas Security Systems
17 October 2012 - 6:00PM
Marketwired
IDO Security Inc. (OTCBB: IDOI) developer of the innovative
MagShoe™ shoe scanning device (SSD), today announced that it has
registered its first sale of the MagShoe under a new distribution
agreement with Borlas Security Systems, a subsidiary of Borlas
Consulting Group, to market the MagShoe in Russia for the Russian
Homeland Security niche.
As Russia makes its security preparations to host the 2014 Sochi
Winter Olympics and upgrades its security in various transportation
hubs, it has looked to its neighbors to find state-of-the-art
devices. The successful MagShoe installations in Azerbaijan,
Lithuania, and Czech Republic all played a role in Borlas' decision
to represent the MagShoe as a winning product for the Russian
market. http://www.borlassecurity.ru/equipment.php?magshoe
Borlas Security Systems provides multiple services and modern
integrated solutions that ensure the security of enterprises, their
resources, and assets by providing consulting services that include
evaluation of threats and vulnerability risks in security systems,
designing and implementation of integrated security systems with
the use of the most advanced techniques in this field, and
integration of security systems with elements from multiple
suppliers.
Mr. Andrey Prozorov, Director of Security Systems Department at
Borlas Consulting Group, commented, "Following an extensive survey
of available security products from around the world, we found that
the MagShoe is uniquely well-suited for closing the security gap in
mass transportation and other Homeland Security applications. We
are honored to represent the MagShoe in Russia."
Yaniv Beran, IDO Security's General Manager, commented, "We are
very pleased to have found such a capable partner to represent IDO
Security in the enormous Russian market. We believe that now is a
particularly strategic juncture in the development of the Russian
HLS market as they continue to modernize their security procedures
in preparation for the 2014 Winter Olympics."
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 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, 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.
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Relations Mike Elliott 813-421-1701 Email Contact
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