NEW YORK February 8, 2011
This letter commemorates my first anniversary as the CEO of Suspect Detection Systems Inc. (the "Company"). When I joined the Company, the powerful and flexible technology of the Company was already being used in several countries around the world assisting in detection and identification of criminals and terrorists.
Our clients acknowledge that the Company’s system (the "Cogito") is effective and has outstanding results. Among the Company’s customers are federal agencies and national border control units all over the world.
$1,596,646 September 30, 2010 $825,253 September 30, 2009 $706,870 $ 169,742 September 30, 2010 September 30, 2010
As is customary in the homeland and security industry, many of our key customers request that we not disclose any further details on their identity and the nature of the projects that we are assisting them with. While we would like to disclose our accomplishments to our shareholders and the public, we contractually cannot.
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During 2010, we have expanded our market share beyond federal and regional law enforcement, by increasing the number of private security enterprises using our systems. We sold our systems to human resource companies, and initiated projects within large companies in the financial service industry.
In addition, we have made a key addition to our management team, by hiring Ran Daniel as CFO. Ran’s strong hi-tech background brings additional leadership to our team. We believe that the processes he has implemented and the results of his work will be felt by the shareholders in the upcoming years.
Most importantly, we hope that 2011 will be even stronger in terms of number of customers and size of projects. We hope to strengthen our position in current markets, penetrate new markets and continue executing our strategic growth plan.
We intend to improve our communication with investors. We look forward to resuming a stream of regular press releases, and hope to obtain coverage from industry analysts.
Together, we can work to help make the world a safer place. Sincerely, Gil Boosidan CEO, Suspect Detection Systems Inc.
Contact: Gil Boosidan, CEO +1-201-446-3859 [email protected]
SOURCE Suspect Detection Systems