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Suspect Detection Systems Publishes Letter to Shareholders
Feb 17, 2010 (04:02 PM EST)
NEW YORK, February 17, 2010 /PRNewswire-FirstCall/ -- Suspect Detection Systems Inc., (SDSS.OB), a leading developer of counter terror and crime prevention technology, has published the following letter to all stockholders. The letter highlights sales generated by the company in 2009. The letter is signed by Gil Boosidan, who was recently introduced as CEO of Suspect Detection Systems Inc.
When I was first offered the post of CEO for Suspect Detection Systems, I saw a solid young company with a dynamic technology that could assist in the prevention of terror attacks, help solve crimes, and increase the level of homeland security provided by federal law enforcement agencies.
Several weeks after my appointment, I am even more impressed with this company than when I began.
After studying the inner workings of Suspect Detection Systems, and reviewing the progress made by the company during 2009, I see a company that has been able to successfully transition from the development phase to full commercialization. And with commercialization, comes the key to success for any company: profitability.
In 2009, Suspect Detection Systems sold its proprietary Cogito technology throughout several markets worldwide. Among other locations, sales were recorded in Mexico and India-two countries with major terror and criminal threats.
Media reports from India stated that Cogito technology was utilized to help solve over 150 cases. Indian authorities have been so impressed with the technology, that an MOU was signed with the nation's premier Forensic Science University in Gujarat, to teach the methodology and implementation of Cogito technology throughout the country.
In addition, the technology was sold to a federal agency in the South Pacific to help secure a major national border. This sale called for the installation of the full Cogito data control system. That sale alone will gross over $1MM for the company.
Cogito was also purchased by companies in the private sector. A human resources company in South Africa ordered the system in 2009 to help prevent theft in the country's diamond industry.
The technology works to expose the guilty knowledge stored within the conscious mind of a terrorist or criminal. Cogito is an automated rapid interrogation system that can detect the hidden intent of a suspect in approximately five minutes-with remarkable accuracy.
On Christmas Day, 2009, a terrorist attempted to take down a commercial airliner as it was about to enter the United States. Cogito has been designed specifically to help federal agents counter the threats posed by such terrorists. Cogito was developed with research and development funding from the United States Department of Homeland Security, and was successfully tested by the Transportation Security Administration (http://www.youtube.com/watch?v=SLjPWt2C3fI).
The need for Cogito technology in today's world is great. And Suspect Detection Systems is ready to meet the demand. Sales from 2009 demonstrate that the company has fertile marketing channels, and has the ability to enter into new markets.
During 2010, we look forward to additional sales-in countries that have already purchased Cogito units, as well as in additional countries that seek to bolster their homeland security capabilities.
In the coming weeks, Suspect Detection Systems will issue audited financials for 2009. I believe that our shareholders will be impressed by the strong finish the company had during the fiscal year.
As CEO, I intend to build upon the steady growth of 2009. And I look forward to an even stronger 2010. Throughout the coming year I intend to keep our valued shareholders abreast of our progress. Together, we can work to help make the world a safer place.
CEO, Suspect Detection Systems Inc.
Learn more about Suspect Detection Systems and Cogito Technology at http://www.sdss-corp.com.
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Suspect Detection Systems and its technologies. Readers are cautioned not to place undue reliance on these statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated in the forward-looking statements. Suspect Detection Systems' public filings may be viewed at http://www.sec.gov.
Contact: Alex Traiman, SDSS Public Relations +1-646-863-9729, email@example.com
SOURCE Suspect Detection Systems