NEW YORK, NY -- (Marketwire) -- 07/02/12 -- IDO Security Inc. (OTCBB: IDOI), developer of the innovative MagShoe shoe scanning device (SSD), today announced that the Depository Trust Company (DTC), has removed the "chill" status from IDO's stock. Effective June 29, 2012, the DTC restored electronic clearance and settlement services for the Company's "IDOI" security, enabling normal electronic trading of the shares. The Depository Trust Company is a member of the U.S. Federal Reserve System and a registered clearing agency with the Securities and Exchange Commission. It was established to provide a safe and efficient way for buyers and sellers of securities to execute and settle transactions.
"We are gratified that our stock is once again DTC eligible, which will now enable our stock to be traded freely among shareholders and the investment community in the market," commented Michael Goldberg, President of IDO Security. "We continue to make strides in improving the Company's capital structure and we look to a better and brighter future in building shareholder value as our flagship product, the MagShoe, continues to expand its market presence around the world."
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, 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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