Suspect Detection Systems Submits Sole Participant Tender for Seven-digit Security Contract in Southeast Asia
NEW YORK, July 30, 2012 /PRNewswire/ --
Suspect Detection Systems Inc., (OTCBB: SDSS), a developer of counter terror and crime prevention technology, announced today that the company submitted a tender to win a seven-digit security contract with a federal agency in Southeast Asia. The company was the only firm to submit a bid at the request of the federal agency.
Suspect Detection Systems has already been awarded two separate tenders with this same country. The current multi-year tender is tentatively expected to be initiated before the end of 2012.
Suspect Detection Systems currently employs a full range of Cogito products at national points of entry to this country. Cogito has already been enabling the identification and interrogation of potential suspects seeking entry into the country for several years. Cogito units communicate with a proprietary Central Database and Management System (CDMS), which processes and analyzes collected biometric information and test results in real-time.
"The request by the federal agency for Suspect Detection Systems to submit this tender demonstrates the value of our security solutions to existing customers and particularly to federal law enforcement and border control agencies," said Gil Boosidan, CEO of Suspect Detection Systems. "Our comprehensive system accurately identifies suspects in real-time, contributing to safer, less porous national borders and airports."
"The seven-digit revenues stipulated in the requested tender are expected to yield significant income to Suspect Detection Systems over the next several years," added Boosidan.
Cogito is an automated interrogation system that is used to accurately detect the hostile intent of suspected criminals and terrorists in just five to seven minutes. The system was designed based on the concept that the most dangerous weapon a suspect possesses is his or her intent to commit a destructive act.
Cogito can be deployed to detect terrorists, smugglers and criminals at airports, border crossings, and by private security firms.
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.
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.
SOURCE Suspect Detection Systems