IDO Security, Inc. (fka IDOI)

[MiltonTonic]

At September 30, 2014, the Company had not achieved profitable operations, had accumulated losses of $58.2 million (since inception), expects to incur further losses in the development of its business and is dependent upon debt and equity financing to fund operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
http://www.sec.gov/Archives/edgar/data/1301367/000157104914006622/t80795_10q.htm
Inventories at September 30, 2014 and December 31, 2013 consisted of completed devices held in the United States totaling $16,024.
Not much call for MagShoes the past few years!
In 2013, one of the banks of IDO Ltd. in Israel honored credit card payment obligations to vendors. At September 30, 2014 and December 31, 2013, the Company owed the bank $12,336 and $12,026, respectively. The bank has filed a lien against the assets of IDO Ltd. to secure the payment of the balance.


Golly, almost all the outstanding shares for sale are from the debt holders. If the company can sell dozens of billions of shares, perhaps part of the $28,000,000.00 debt can be paid off...

in April 2013, IDO Ltd. terminated all commercial activities in Israel. All employees were terminated and office premises closed. IDO Ltd. disposed of or abandoned most of its property and equipment.