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:
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 cond
|SOURCE Suspect Detection Systems|
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