IDO Announces Reverse Stock Split Effective Immediately
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 12/19/11 -- IDO Security, Inc. (OTCBB: IDOI) (OTCBB: IDOID), developer of the innovative MagShoe™ shoe scanning device (SSD), today announced that its previously approved reverse stock split was effected on December 16, 2011 on a one-for-three thousand basis. Due to the reverse stock split, IDO's common stock will temporarily trade under the trading symbol "IDOID" for 20 trading days beginning December 19, 2011, after which the symbol will revert to "IDOI."
The primary purposes of the reverse stock split are to increase the share price of the common stock to foster market interest and to reduce the outstanding shares of common stock to a level more consistent with other public companies with a similar market capitalization.
Michael Goldberg, President of IDO Security, said, "We believe the reverse stock split improves the Company's capital structure therefore enabling us to increase the investor audience and interest in our common stock, especially with the new internal rules being instituted by many clearing firms. We are confident that the demand for the MagShoe will continue to grow globally in 2012, allowing the Company to build shareholder value."
Headquartered in New York with a subsidiary in Israel, IDO Security designs, develops and markets the patented MagShoe™ shoe scanning device (SSD). MagShoe™ fills 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. The MagShoe™ is 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 and more.
For more information on the Company, please visit:
Forward-Looking Statements:
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 effects of the reverse stock split, expected demand for and revenues in 2012, 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, 2010, and in our other filings with the Securities and Exchange Commission at . We undertake no obligation to revise or update any forward-looking statement for any reason.
COMPANY CONTACT:
Michael Goldberg
646-214-1234
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 19.12.2011 - 14:25 Uhr
Sprache: Deutsch
News-ID 98294
Anzahl Zeichen: 0
contact information:
Town:
NEW YORK, NY
Kategorie:
Electronics & Communications
Diese Pressemitteilung wurde bisher 231 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"IDO Announces Reverse Stock Split Effective Immediately"
steht unter der journalistisch-redaktionellen Verantwortung von
IDO Security, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
