Traders are fed up with all the losses July has brought so far as many are hanging it up in favor of hanging ten for the remainder of the summer months. For those of you who are toughing it out, IDO Security Inc, (IDOI) is getting pumped up again now that it has removed the “chill” status from its stock. A massive number of emails about the developer of the innovative MagShoe™ shoe scanning device arrived shortly after the market close. So, before you go grabbing that sunscreen, get IDOI stock on your list of penny stocks to trade tomorrow because 20 billion shares could just fly right past you.
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IDOI Stock Chart
Market Cap: 6.49M
52-Week High
(Mar 30, 2012): 0.56
52-Week Low
(Jun 4, 2012): 0.22
Share Statistics:
Avg Vol (3 month): 99,964
Avg Vol (10 day): 53,943
Shares Authorized: 20.00B
Shares Outstanding: 17.55M
Float: 17.49M
Every time a new form of security is designed and ready for production/distribution, it always seems to come from Israel. I guess the conditions over there with Gaza internally and the borders, security is a top priority for inventors. However, claims have been made since as early as March to the following:
• IDOI Security (IDOI) looks to jump from current levels below $0.50 to $4.50 as its breakthrough technology improves both security and traveler convenience
• IDO Security (IDOI) could turn every $5,000 invested today into $55,000 very quickly and potentially more than $250,000 in two years.
• GE paid $900 million for a young airport security company like IDO Security a few years ago. And early participants, those who got InVision Technology when it was under $1, made a fortune when the stock shot up over $50 when GE bought it.
• Even those who waited but still got in at $1 turned $5,000 into $250,000. And the same could happen with IDOI.
First of all, yes it is a cool product that could easily delete one person per security check point per shift which could equal millions of dollars in savings over the long-term. Beyond that, its also good to see that IDOI is actually growing its revenues having booked $204,564 for the three months ended March 31, 2012 compared to $19,161 for the same period in 2011. Gross profits were $88,711 which allowed the Company to report a loss from operations of $363,300. respectable to say the least.
Now that The MagShoe™ has been deployed and is in operation in various countries including Israel, China, Spain, Poland, The Czech Republic, Australia, the Philippines and Germany, revenues could easily grow much greater than the $800,000 that is behind the third promo of IDOI stock this year. (see here)
Look, its late, its been a long week already and there isn’t enough time right now to verify, but with just 17,548,138 shares outstanding as of May 21, 2012, you can bet your bottom dollar that a large portion of the $2,926,717 gain on extinguishment of debt in Q1 was converted to unregistered shares for the purpose of selling to you and raising capital for them. It’s a pump, period.
About IDOI Stock
IDO Security Inc. is engaged in the design, development and marketing of a shoe scanning device for the homeland security and loss prevention markets intended for use in security screening procedures to detect metallic objects concealed on or in footwear, ankles and feet through the use of electro-magnetic fields. These devices were designed specifically for applications in the security screening to complement the current methods for the detection of metallic items during security screenings and at security checkpoints in venues such as airports, prisons, schools, stadiums, high security places and other public locations requiring individual security screening.
The Company designed and developed a security screening device containing proprietary and patented technology known as the MagShoe™. The MagShoe™ creates specific electro-magnetic fields that can intelligently detect the presence of metallic objects inside a person’s footwear, as well as next to or above the ankles, up to 40 centimeters from the ground level. The proprietary software included in the MagShoe™ provides for the collation and delivery of the screening data to the operator for immediate analysis. The MagShoe™ device has been designed to be portable and to integrate into and complement current security screening arrays and systems.
Note: On December 16, 2011 the Company implemented a reverse stock split of its outstanding common and preferred stock at a ratio of 1-for-3,000 shares.
To view the SEC filings for IDOI, click here.
Bottom Line: IDOI is the best penny stock option out there for the remainder of this week but keep your shoes on in case you need to run out of it quick. What is not so encouraging, considering there is no competition, is that IDOI stock has been sluggishly traded. There are no spikes or dips in the PPS during the previous two promo periods in March and May which could indicate a flat 5-10% winner unless the bid gets attacked.
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