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Suspect Detection Systems, Inc. (Ticker: SDSS)

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by , 04-16-2010 at 09:07 AM (677 Views)
April 16, 2010: Suspect Detection Systems Ltd. (SDS) SDS specializes in developing innovative Homeland Security, Military Intelligence and Law Enforcement advance technologies based on extensive Intelligence and counter-terrorism know-how accumulated in Israel and worldwide. SDS was founded by former senior officials of Israeli security and experienced senior experts of the high-tech industry. The company’s first advanced line of product is the "COGITO". Relying on unique and proprietary technology the system is designed to identify malicious intent in various settings and scenarios. The "COGITO1002" is an automated kiosk-like station that enables the profiling and screening of passengers based on biofeedback indications. SDS develops and markets the "COGITO1002" to be used by law enforcement agencies for the detection of suspects harboring malicious intent at border control and/or other checkpoints. The COGITO1003 is a stationary “Internal Threat” and Pre Employment and employee integrity screening system. The COGITO4M is a military grade product aimed at the Field Intelligence of Military units, Police and Law Enforcement units. This technology was successfully tested by US Governmental Agencies, Israeli Security agencies and being use both by commercial and governmental customers in Israel, United States of America, Central America and South Africa. SDS Mission: our mission is to assist law enforcement agencies all over the world in their war against local and international sophisticated organized crime and terrorism by providing innovative solutions that can be deployed today, while adding value to our investors.

Last year, 2009, their first year in operation, they grossed about 880,000, at 80% profit margin. This year, 2010, the have exceeded that already

I am reprinting a letter from the new CEO, worthwhile read

Suspect Detection Systems Publishes Letter to Shareholders
NEW YORK, February 17, 2010 /PRNewswire via COMTEX/ -- 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.

Dear Shareholders,

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.

Sincerely,

Gil Boosidan

CEO, Suspect Detection Systems Inc.

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