NEW YORK, April 3, 2013 /PRNewswire/ --
Funding can support enhancing the
Cogito Solution's marketing efforts, that management believe, can
assist in Preventing Potential School/Mall Massacres
Suspect Detection Systems Inc. (OTCBB: SDSS), (SDSS.pk), a
developer of counter terror and crime prevention technology, today
announced that it has entered into a share swap agreement with
BioMedix Ltd., a publicly traded company on the Tel Aviv Stock
Exchange (TASE). BioMedix, a leading Medical Device/Technology
incubator, has agreed to purchase 5,229,659 restricted
SDSS shares at a valuation of $.04
per SDSS share, via share swap of its publicly traded Israeli
subsidiary, Gefen Biomed Investments Ltd. (GEFEN:TASE). In
connection with this share swap transaction; SDSS received 921,790
shares of Gefen, which values the sdss shares at $.04 at the transaction's date.
The transaction with BioMedix was disclosed at the IL Maya
system (Israeli SEC website) and can be viewed (in Hebrew) at:
http://maya.tase.co.il/bursa/report.asp?report_cd=790991-00&CompCd=368&Type=Pdf
Gil Boosidan Suspect Detection Systems Inc.'s CEO, stated "SDSS
continues to progress in its efforts to bring added value to our
shareholders. The funding that we receive upon from our sale of our
Gefen shares can be used to enhance our ability to add personnel
and acquire resources and support our marketing efforts to
achieve projects with strategic partners. We believe that
the need and desire, in the US, to prevent these nonsense acts of
violent on US school grounds and malls can be better pursued with
the use of the Cogito solution.
Mr. Boosidan further stated that "Suspect Detection
Systems Inc. is continuing its efforts to improve cash flow,
which will also improve our financial condition and should result
in share price appreciation. Our long-term plan includes
seeking to upgrade our share listings to higher level
exchanges including foreign listings in the future."
About Suspect Detection Systems
Suspect Detection Systems Inc., through its subsidiary Suspect
Detection Systems Ltd., is a developer of proprietary counter
terrorism and crime prevention technology designed to identify
threats in real-time, and prevent incidents before they are carried
out. The technology detects the hidden "hostile intent" of
assailants - before they commit their intended acts - with a high
degree of accuracy. The system can also be used after a crime
is committed to quickly identify criminals from among a general
population pool, including suspects.
Learn more about Suspect Detection Systems and Cogito Technology
at http://www.sdss-corp.com.
About Biomedix and Gefen: Biomedix and its subsidiary,
Gefen, are Israel-based,
publicly-traded companies listed on TASE. Biomedix is an
investment management company focused primarily on Israeli-based
Medical Device and Technology companies, from early stage to
later stage/mature companies presenting high growth potential.
Biomedix controls two of Israel's
largest incubators, ATI and Meytav, as well as a late-stage
investment entity, SpearHead. Gefen's risk management leverages its
investment funds through the Israeli incubator program under the
direction of the Office of the Israel Chief Scientist.
More information on BioMedix and Gefen can be found at:
http://www.biomedixincubator.com and http://www.gefenbiomed.com/,
respectively.
Forward-Looking Statements:
This release 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 Inc., and its
technologies. 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. Suspect Detection Systems Inc. public filings may be
viewed at http://www.sec.gov.
Contact:
Investor Relations
alext@sdss-corp.com
+1(646)863-9729
SOURCE Suspect Detection Systems
