Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
TraceGuard Announces Appointment of Avi Kostelitz as Chief Executive Officer
Thursday January 3, 4:00 pm ET
New chief executive brings significant expertise in aviation security and operations
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. – (OTC BB:TCGD - News), a developer of innovative systems and solutions for improving detection of explosives and hazardous materials, announced today that Avi Kostelitz has been appointed Chief Executive Officer of the Company. Mr. Kostelitz replaces Dr. Ehud Ganani in the Chief Executive role, effective as of January 1, 2008. Dr. Ganani will continue to serve TraceGuard as Chairman of the Company’s Board of Directors.
Mr. Kostelitz brings extensive aviation security experience and enterprise management abilities to TraceGuard. From 1997-2001, he served as the CEO of the Israel Airports Authority (IAA), which manages and has full responsibility for operations and security for all airports and air transportation in Israel, as well as border crossings between Israel, Jordan, Egypt and the Palestinian Authority. Prior to this, Mr. Kostelitz served as a senior director of the Israel Security Agency (ISA), retiring in 1996 with the rank of Major General. He has been a principal advisor to TraceGuard since the Company’s inception in 2005, assisting the management team on core strategic, product development and marketing issues.
Mr. Kostelitz said, “I am very excited to be given the opportunity to serve TraceGuard as its chief executive officer. I have seen the Company’s progress firsthand through my deep involvement with TraceGuard’s management team over the past two years. TraceGuard has made significant headway in its product development efforts and CompactSafe(TM) is now being evaluated by several key homeland security agencies worldwide. This a great honor for me personally and I look forward to accelerating TraceGuard’s progress in commercializing its products. .”
Dr. Ganani said, “We are all pleased that Avi has decided to join TraceGuard as CEO. He brings tremendous talent, understanding and experience to the Company from his unique and accomplished background. I have enjoyed working closely with him and am confident that he will lead the company towards continued success in 2008 and beyond.”
About TraceGuard
TraceGuard Technologies develops innovative security technologies and solutions for enabling explosives detection through automated trace extraction. By advancing the efficacy and efficiency of trace collection, TraceGuard’s product suite offers dramatic improvement over the current mechanisms in place at present.
TraceGuard is a US public company traded on the Over-The-Counter Bulletin Board (OTC BB:TCGD - News). TraceGuard maintains a Research and Development Center in Tel Aviv, Israel and has a Sales office in New York. For additional information on TraceGuard, please contact TraceGuard at 1 866-401-5969 or visit www.traceguard.com.
Some of the statements in this press release contain forward-looking statements that involve risks and uncertainties. You can identify forward-looking statements by words such as "may," "will," "should," "expect," "plan," "could," "anticipate," "intend," "believe," "estimate," "predict," "potential," "goal," or "continue" or similar terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including, but not limited to, the risks outlined in our filings with the US Securities and Exchange Commission, that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. For example, risks that could cause actual results to vary materially from future results include, but are not limited to: our lack of an operating history, issues related to intellectual property infringement, issues relating to the introduction of our products in target markets, the need to raise capital to fund operations, our dependency on key personnel, approval of our products by regulatory authorities, matters related to the location of our operations in Israel, the extent of competition; technological developments in our target markets and the development of alternate, competing technologies in them; and sales of shares by existing shareholders. Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
Contact:
Investor Relations:
TraceGuard Technologies Inc.
David Ben-Yair, 866-401-5969
CFO
david.ben-yair@traceguard.com
or
Media/Press:
Eric Leskly, 866-401-5969
Director, Marketing and Business Development
eric.leskly@traceguard.com
http://biz.yahoo.com/bw/080103/20080103005514.html?.v=1
Also, OTCJournal is plugging TraceGuard
http://www.otcjournal.com/TraceGuard-Technologies-Inc/TCGD/af/profile/
Anyone hear anything lately? I heard (unconfirmed) that they are getting financing. Given the Smiths news I would think they would have several options to assure continued operations.
TraceGuard Technologies Signs Letter of Intent with Smiths Detection
Thursday November 8, 4:01 pm ET
Companies Intend to Work Together on Product Marketing and Co-Development
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. – (OTC BB:TCGD - News), a developer of innovative systems and solutions for improving detection of explosives and hazardous materials, announced today that it has signed a Letter of Intent with Smiths Detection, a world leader in airport and critical infrastructure security screening systems.
Under the Letter of Intent, Smiths and TraceGuard will work exclusively towards bringing about a definitive agreement to accelerate TraceGuard’s Automated Trace Extraction (ATE) route to market. In the first phase of the definitive agreement, the companies would cooperate in marketing TraceGuard’s CompactSafe ATE system to select aviation and homeland security customers.
Additionally, TraceGuard and Smiths Detection may cooperate on integration of CompactSafe and other TraceGuard products and capabilities for improving and automating trace sample collection with Smiths Detection’s IONSCSAN IMS explosives trace detectors.
Tony McEnroe, Smiths Detection’s Vice President of Business Development stated:
“After an extensive review across the sector, we concluded that TraceGuard offers considerable attractions as a partner for developing enhanced capabilities in explosives detection for homeland security. We look forward to working closely with TraceGuard in the months ahead to explore the development of new and complementary solutions for segments of the homeland security market.”
Dr. Ehud Ganani, TraceGuard’s Chairman and CEO commented:
“Smiths Detection is the global market leader in detection and we are proud to be working with them. Combining TraceGuard’s own technological strengths with Smiths Detection’s experience and extensive capabilities in the homeland security market offers considerable synergies. We look forward to working together to develop further breakthroughs in the explosives detection field.”
About Smiths Detection
Smiths Detection is part of the global technology business Smiths Group. It offers advanced integrated security solutions for customers in civil and military markets worldwide and is a leading technology developer and manufacturer of sensors that detect and identify explosives, chemical and biological agents, weapons, and contraband. Its advanced technology security solutions also include Smiths Heimann x-ray imaging systems, millimeter-wave technology and a specialist software supply business for the management of large sensor and video surveillance networks. Separate business units focus on related products for the life sciences, and food manufacturing industries. For more information please visit www.smithsdetection.com
http://biz.yahoo.com/bw/071108/20071108006166.html?.v=1
TraceGuard Completes Second Pilot Program of CompactSafe(TM) System at Ben Gurion Airport
Monday October 15, 4:00 pm ET
Company reports additional successful operational test of system for screening complex items at Israel's major international airport
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. (OTC BB:TCGD - News), a developer of technologies and solutions for improving explosives detection, announced today that it has completed a second pilot program of its CompactSafe(TM) system at Ben Gurion International Airport in Israel.
In the course of the pilot program, CompactSafe(TM) was operated by Israel Airport Authority (IAA) personnel, who own and operate security equipment at Ben Gurion Airport, in several screening locations at the airport. Over 4,000 passenger items were screened by IAA operators with the CompactSafe(TM).
The objectives of the pilot program were: to demonstrate the effectiveness of using an automated screening system, to verify CompactSafe's performance and durability in a realistic operational setting, and to better acquaint the personnel of the IAA with CompactSafe(TM) and its capabilities. Earlier this year, TraceGuard completed a pilot in which its personnel had operated CompactSafe(TM) at Ben Gurion with the permission of the IAA.
CompactSafe(TM) inspects complex items at passenger and baggage screening checkpoints, and works in conjunction with security equipment currently in use to improve accuracy and efficiency in detecting explosives. The system is specifically designed to extract traces of explosives from items such as laptops, electronic devices, shoes and similar size items that are carried in the carry-on luggage, and can also be adapted to improve detection for narcotics and other hazardous materials.
"The Israel Airport Authority is pleased that TraceGuard has completed this pilot program of CompactSafe(TM) in conjunction with security authorities at Ben Gurion Airport. CompactSafe(TM) has met TraceGuard's expectations in terms of the goals defined together with IAA at the outset of this pilot program to demonstrate the system's durability, operational performance and ease of use. The IAA is examining increased use of automation across Ben Gurion, and CompactSafe(TM) promises to help improve security and operational efficiency through an automated process," said a senior IAA official.
"TraceGuard is very proud to have completed this second pilot program at Ben Gurion Airport with the cooperation and participation of the Israel Airport Authority. Ben Gurion is one of the most respected airports in the world, and it is an honor for us to be given the opportunity to demonstrate CompactSafe's capabilities with the IAA in this important and unique location. We believe that CompactSafe(TM) offers a unique solution to improving explosives detection, one of the critical challenges in aviation security today, and we are confident that this demonstration will resonate both in Israel and beyond," said Dr. Ehud Ganani, Chairman and CEO of TraceGuard.
About TraceGuard
TraceGuard Technologies develops innovative security technologies and solutions for enabling explosives detection through automated trace extraction. By advancing the efficacy and efficiency of trace collection, TraceGuard's product suite offers dramatic improvement in explosives detection capabilities for aviation and homeland security authorities worldwide.
TraceGuard is a US public company traded on the Over-The-Counter Bulletin Board (OTC BB:TCGD - News). TraceGuard maintains a Research and Development Center in Tel Aviv, Israel and has a Sales office in New York. For additional information on TraceGuard, please contact TraceGuard at 1 866-401-5969 or visit www.traceguard.com.
http://biz.yahoo.com/bw/071015/20071015006353.html?.v=1
Justin Oberman Joins TraceGuard as Advisor
Tuesday July 31, 8:35 am ET
Former TSA Official Brings Significant Market Expertise and Strategic Direction
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. - (OTC BB:TCGD - News), a developer of innovative systems and solutions for improving detection of explosives and hazardous materials, announced today that Justin Oberman, a former Transportation Security Administration (TSA) official, has joined the company as an advisor.
Justin will support TraceGuard's business development activities in the US aviation and other homeland security markets. In this role, he will assist the company in executing its strategic plan and developing relationships with key potential customers and industrial partners.
Justin left the TSA in December 2005 after more than four years at the Agency. He became TSA's third employee after the Agency was founded in November 2001. From July 2003 until his departure, Justin was an Assistant Administrator of TSA and responsible for the Agency's programs that identify known or potential terrorist threats working in or seeking to access the transportation system in all modes, including the Registered Traveler and Secure Flight programs for commercial aviation.
"We are extremely pleased to have Justin on board with us at TraceGuard. Justin is a great professional and personal fit for the Company, and his unique background through his career at DHS and TSA will be of enormous assistance on both strategic and tactical matters to TraceGuard as we move forward in the US market," stated Dr. Ehud Ganani, TraceGuard's Chairman and CEO.
http://biz.yahoo.com/bw/070731/20070731005716.html?.v=1
TraceGuard Completes Pilot Program of CompactSafe(TM) System for Improving Explosives Detection at Western Wall in Jerusalem
Tuesday June 12, 7:44 am ET
Company reports successful operational test of system for screening complex items at holy site in Jerusalem's Old City
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc (OTC BB: TCGD - News), a provider of innovative homeland security systems and solutions, announced today that it has completed a pilot program with its CompactSafe(TM) system at the security checkpoint located at the Western Wall in Jerusalem.
CompactSafe(TM) inspects items at security screening checkpoints and is designed specifically to extract traces of explosives from items such as laptops, medical devices, cameras and small bags. By automating the sampling process, CompactSafe(TM) is expected to improve detection of explosives and reduce overall inspection time.
The objective of the pilot program was to demonstrate the system's performance and durability in a realistic operational setting, in conjunction with existing security equipment already deployed. Earlier this year, CompactSafe(TM) completed a pilot program at Israel's primary international airport.
In the course of the three-week pilot at the Kotel, thousands of items were inspected by CompactSafe(TM). The system worked in conjunction with the security systems already operated by the Israel Police Agency at the checkpoint.
The Israeli Police has overall responsibility for the security of the Kotel and the Old City of Jerusalem, and allowed TraceGuard to operate at the checkpoint for the duration of the pilot.
The Old City of Jerusalem is sacred to Judaism, Christianity and Islam. The Western Wall is the only remaining section of the supporting wall of the biblical Jewish Temple. The Wall is located in close proximity to the Church of the Holy Sepulcher and the Dome of the Rock Mosque.
"TraceGuard is proud to have proven our capabilities at such an important location as the Kotel," said Ehud Ganani, Chairman and CEO of TraceGuard. "CompactSafe(TM) brings a unique solution to improve detection of explosives, and offers authorities the dual benefits of enhanced security and improved operational efficiency. This pilot program is an important milestone for TraceGuard, in which we proved that CompactSafe(TM) can operate successfully in the challenging operating environment of a sensitive and highly-populated area like the Western Wall. We look forward to testing CompactSafe(TM) at additional locations, in order to further demonstrate TraceGuard's value proposition to the homeland security communities in Israel and abroad."
Major General (ret.) Arik Yakuel, formerly Head of Strategic Planning and Technology for the Israeli Police, and a member of TraceGuard's Advisory Board said, "TraceGuard's pilot program at the Kotel reflects the Police's tradition of initiating and improving the level of security at facilities within its jurisdiction. The Israel Police Agency is constantly looking for innovative and advanced technology solutions that can assist its mission and provide the dual benefits of enhanced security and improved operational efficiency. CompactSafe offers a significant potential contribution to security methods currently in use."
CompactSafe(TM) is based on TraceGuard's proprietary extraction method for Automated Trace Extraction (ATE). CompactSafe(TM) can be used for a variety of applications, including aviation security, protection of critical infrastructure, border security and mail-sorting.
About TraceGuard
TraceGuard Technologies develops innovative security technologies and solutions for enabling explosives detection through Automated Trace Extraction. By advancing the efficacy and efficiency of trace collection, TraceGuard's product suite offers dramatic improvement over the current mechanisms in place at present.
TraceGuard is a US public company traded on the Over-The-Counter Bulletin Board (TCGD). The Company's management team has a broad range expertise in the international defense and homeland security sectors, including product development, marketing and operations. TraceGuard maintains a Research and Development Center in Tel Aviv, Israel and has a Sales office in New York.
For additional information on TraceGuard, please contact TraceGuard at 1 866-401-5969 or visit www.traceguard.com
http://biz.yahoo.com/bw/070612/20070612005644.html?.v=1
TraceGuard Announces Series of New Patent Submissions
Thursday June 7, 9:48 am ET
Several Applications Strengthen Company's Core Intellectual Property Offering
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. (OTC BB: TCGD - News), a provider of innovative homeland security technologies and solutions, announced today that it has filed a series of patents that cover key aspects of the Company's core technology for enabling improved detection of explosives and other hazardous materials.
The patent submissions center around TraceGuard's proprietary Automated Trace Extraction(TM) (ATE) method, which is designed to enhance capabilities for collection of traces in the security inspection process. ATE involves air jetting, pressurization and in some cases vibration and heating, which significantly increases sampling accuracy as compared to the manual swabbing process currently used. ATE forms the core of TraceGuard's product suite. More information on the products is available at http://www.traceguard.com/Products/Index.html.
TraceGuard already holds the worldwide, perpetual license to several patents surrounding several aspects of ATE and trace collection which pertain to the use of licensed proprietary technology in conjunction with its future products, and intends to submit additional ones as it progresses in its technological and product development.
Dr. Ehud Ganani, Chairman and CEO of TraceGuard, said, "TraceGuard is pleased with the submission of these patent applications, which will help increase our suite of intellectual property. Automated Trace Extraction(TM) is a unique method which has the potential to significantly improve homeland security for governments and passengers alike. Through development and productization of this core capability, we intend to change the way detection of explosives and hazardous materials is done by authorities worldwide, through increased security, enhanced operational efficiency and improved passenger privacy."
http://biz.yahoo.com/bw/070607/20070607005570.html?.v=1
TraceGuard Issues Open Letter to Shareholders
Tuesday May 22, 10:00 am ET
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies (OTCBB:TCGD - News), a provider of innovative homeland security systems and solutions, today issued the following letter from CEO Dr. Ehud Ganani to the Company's shareholders:
Dear Shareholder:
This week marks the one-year anniversary of the opening of TraceGuard's R&D Center. I wanted to take this opportunity to update you on some significant events that have taken place within the Company.
Over the past year, TraceGuard has built a first-class team. We currently have 28 employees, 18 of whom are engineers. Our management team consists of exceptional professionals with considerable experience in their respective fields of technology development, marketing and finance and an in-depth understanding of the defense and homeland security sector. Our engineering team has a range of proven expertise in areas ranging from mechanical and chemical engineering to automation and flow process analysis.
As those of you who have visited our R&D Center have seen, we maintain a first-class testing facility in accordance with the highest standards in our field. In testament to our development team's professionalism and skill, the Company received ISO 9001 certification earlier this year.
TraceGuard was recently selected to receive an award from the Office of the Chief Scientist for $240,000 to further the development of technology for improving explosives detection. The aim of the project is to advance our unique technology for Automated Trace Extraction(TM) (ATE), the core technology on which all of our systems are based.
As you are likely aware, TraceGuard has made considerable progress in Engineering and Product Development. Last June we launched the development our CompactSafe(TM) system for inspecting hard-to-check items like laptops, electronic devices and other carry-on items, which we tested in an operational setting at Israel's major international airport in January 2007.
Completing the pilot program was a critical milestone for TraceGuard, and proved to be an unprecedented success for the Company. The machine performed flawlessly, and generated a great deal of interest among the security and regulatory authorities in Israel and abroad.
In part through your belief in the Company and willingness to take risk on our behalf, TraceGuard has succeeded in raising approximately $9.5 M to date from private investors.
In summary, the past year has been extremely positive and rewarding for all of us at TraceGuard, and we are increasingly confident as we move ahead that we are going to dramatically change the homeland security market for the better. I encourage all of you to visit us in Petach Tikva and please feel free to contact me with any questions you might have.
Sincerely,
Dr. Ehud Ganani
Chairman and CEO, TraceGuard Technologies
Maybe this will help some,
TraceGuard Completes Successful Series of External Testing for Explosives Detection
Thursday April 19, 9:23 am ET
Company's Equipment Demonstrates Significant Results with Variety of Explosive Materials
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc (OTC BB: TCGD - News), a provider of innovative homeland security systems and solutions, announced today that it has successfully completed a series of tests at a specialized facility geared for testing explosive materials.
The tests were conducted with TraceGuard's CompactSafe(TM) system for Automated Trace Extraction(TM) of explosives. Several different types of explosive materials were concealed or embedded into a variety of items, including laptops, electronic equipment and bags, which were then inspected with the CompactSafe. The objectives of the tests were twofold: to verify CompactSafe's accuracy in enabling detection of varying types and quantities of explosive materials, as well as to check the system's operational usability following contamination by hazardous materials.
CompactSafe accurately extracted traces from 62 out of a total of 65 items that were contaminated with explosives during the tests. This figure includes complex concealment of explosives and some of the more difficult types of explosives to detect, such as detasheets. For the majority of the explosives tested, CompactSafe generated a 100% positive success rate in extraction.
Dr. Ehud Ganani, Chairman and CEO of TraceGuard, said, "The completion of these tests marks a significant accomplishment for TraceGuard and our product development team. We are all extremely proud of these impressive results, which attest to the significant capability enhancement that TraceGuard offers in detecting explosives. We are constantly continuing to improve our performance and believe that our solutions for Automated Trace Extraction will help change the homeland security environment for the better."
http://biz.yahoo.com/bw/070419/20070419005558.html?.v=1
GLTY
Dubi
TraceGuard Presents at European Conference on Security Research SRC'07
Tuesday March 27, 8:00 am ET
Company's CEO invited by German government to address opportunities for improving aviation security measures at key homeland security conference
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. (OTC BB: TCGD - News), a provider of innovative homeland security technologies and solutions, announced today that it has participated in the European Conference on Security Research (SRC'07), a key homeland security event sponsored by the European Union.
Dr. Ehud Ganani, Chairman and CEO of TraceGuard, was invited by the German government to speak on vulnerabilities and improvements within security and infrastructure. Dr Ganani presented before an audience of 1,200 government and industry officials on the need for improved security and better capabilities for detecting explosives at aviation security checkpoints.
Dr. Ganani's presentation, entitled "Benefits and Opportunities of Automatic Trace Extraction," dealt with challenges security authorities face in detecting explosives at airports and border crossings, as well as opportunities for improving security and operational efficiency through the use of TraceGuard's proprietary Automated Trace Extraction(TM) method for improving trace collection.
Dr. Ganani suggested that TraceGuard's products could provide superior detection capabilities over the manual inspection process currently used for detecting explosives. The Company's products would also help authorities improve operational efficiency of equipment already purchased. As an example, he highlighted CompactSafe(TM), TraceGuard's spearhead product for inspecting laptops, electronics and small items, which recently completed a successful pilot program at Israel's primary international airport.
SRC'07 is one of the largest gatherings held in Europe, and is intended to improve the security of citizens in Europe by promoting improved security and research cooperation between government and industry. The event also serves to strengthen the competitiveness of European industry in providing solutions to the current and future security challenges.
The conference took place over March 26 - 27, 2007 in Berlin, and was also was the launch event for the European Security Research Program under the 7th Research Framework Program 2007-2013.
Dr. Ganani said, "It was a great privilege for me to present to the esteemed audience that attended SRC'07. TraceGuard is grateful to the German government for its generous support and we look forward to assisting it and other member states in helping provide more comprehensive homeland security solutions. We are confident that TraceGuard brings a unique offering through our new paradigm of Automated Trace Extraction, which will help aviation security and homeland security officials more accurately detect explosives materials, one of the biggest threats to passengers and civilians today. We are committed to this market and we look forward to working with government and industry partners in Germany and across Europe
http://biz.yahoo.com/bw/070327/20070327005171.html?.v=1
US: Baggage handlers smuggle guns, drugs onto plane
By ASSOCIATED PRESS
ORLANDO, Florida
Two airline baggage handlers used their employee uniforms and identification cards to carry a duffel bag loaded with guns and drugs into a plane's passenger cabin, bypassing security screeners, according to court documents.
Passengers on the Delta flight from Florida to Puerto Rico were in little danger despite more than a dozen guns being on board, because at least two federal air marshals were also on the plane, a US Transportation Security Administration spokesman said Thursday.
TSA spokesman Christopher White declined to address the security breach or whether the marshals knew that guns were on the plane. He said multiple marshals were on the plane, but declined to specify how many.
A tip led authorities to investigate the men aboard the flight Monday, said Carlos Baixauli, a special agent with the US Bureau of Alcohol, Tobacco, Firearms and Explosives.
Thomas Anthony Munoz, 22, was arrested when he got off the plane at the Luis Munoz Marin International Airport in San Juan. Authorities found 13 handguns, one assault rifle and eight clear bags containing a total of 8 pounds (3.6 kilograms) of marijuana in his duffel bag, Baixauli said.
Zabdiel J. Santiago Balaguer, 22, was arrested late Tuesday and remained in custody Thursday in the Orange County Jail.
Stephen Langs, the public defender representing Balaguer, said Thursday his client plans to plead not guilty. It was not clear whether Munoz had an attorney.
Munoz and Balaguer, both US residents, were charged with conspiracy to distribute marijuana and possessing firearms in interstate commerce during a drug trafficking offense, court documents said.
The two men worked for Comair, a subsidiary of Delta. Both passed federal background checks before employment, said Kate Marx, Comair spokeswoman. Both men have been suspended from their jobs pending the investigation, Marx said.
Balaguer delivered guns and drugs to Puerto Rico several times himself and offered to pay Munoz as much as $5,000 (€3,806) to make the delivery to Puerto Rico, according to court documents. A contact in Puerto Rico had wired more than $1,800 (€1,370) to Balaguer last week, which was used to buy the guns and drugs, according to a federal agent's affidavit.
Screening at US airports follow the process outlined by the Transportation Security Administration, said Carolyn Fennell, an Orlando airport spokeswoman.
White refused to comment on whether the TSA will increase security or improve security plans after the Orlando breach.
http://www.jpost.com/servlet/Satellite?cid=1173173966429&pagename=JPost%2FJPArticle%2FShowFull
TraceGuard Announces R&D Award from Israel's Ministry of Industry and Trade
Tuesday February 27, 8:00 am ET
Office of the Chief Scientist to Assist to Support Development of Technology for Improved Explosives Detection
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. (OTC BB:TCGD - News), a provider of innovative homeland security technologies and solutions, announced today that it has been selected to receive an award from Israel's Chief Scientist, within the Ministry of Industry and Trade, to further the development of technology for improving explosives detection.
The Office of Chief Scientist (OCS) approved a research and development project with TraceGuard for $800,000, of which OCS will provide $240,000 of the funding. The aim of the project is to advance TraceGuard's unique technology for Automated Trace Extraction(TM) (ATE), which is designed to significantly improve capabilities for collection and sampling of traces in the inspection process for explosives and other hazardous materials.
ATE employs isolating, decompressing and pumping air around and within inspected items in order to facilitate improved collection of traces of substances, which are then fed to a trace detector for analysis and threat determination.
TraceGuard is currently developing ATE for use in the aviation security field, to enable improved detection of explosives at passenger checkpoints and hold baggage screening inspection points. The company is also focused on ATE applications across the homeland security market, including border crossings, protection of critical infrastructure and narcotics detection.
The Ministry of Industry and Trade contributes funding to support research and development efforts, as well as processes or methods for the manufacture of a new product or the significant improvement of an existing one. The Chief Scientist supports over 1,000 projects per year for more than 500 companies in Israel, and funds more than $300 M in grants annually.
Dr. Ehud Ganani, Chairman and CEO of TraceGuard, said: "TraceGuard is proud to have been selected by the Chief Scientist for this generous grant to further improve our offerings in the explosives detection field. The award demonstrates the confidence that the Government of Israel has in TraceGuard and the potential of our technology to create fundamental change in the homeland security market worldwide. We sincerely appreciate the support of the Chief Scientist, which we believe will help pave the way for our future success."
http://biz.yahoo.com/bw/070227/20070227005190.html?.v=1
TraceGuard Reports Ability to Improve Detection of Explosives Concealed in Mail
Monday February 12, 7:30 am ET
Company completes series of successful tests with more than 90% accuracy in extracting explosive materials concealed in envelopes, packages and boxes
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. (OTC BB:TCGD - News), a provider of innovative homeland security technologies and solutions, announced today that it has completed a series of tests that confirms the ability of its products to improve the detection of explosive materials concealed in mail parcels and packages.
The test results reaffirmed that TraceGuard's unique technology, which automates extraction of traces of explosives and hazardous materials, can enable the effective detection of concealed explosives, and could potentially aid in the inspection of mail parcels and packages for bombs and explosive materials.
In the course of hundreds of tests, TraceGuard achieved a successful detection rate of more than 90% and was also able to extract minute quantities of explosives from both the exteriors and interiors of items being inspected. This includes extraction from within sealed envelopes, greeting cards and assortments of envelopes, as well as from within packages and sacks of mail.
The series of tests were conducted on a variety of mail articles such as letters, envelopes, packages and boxes. The tests were performed using two of the Company's systems, CompactSafe(TM) and CarrySafe(TM), both of which enable the automated extraction of traces of explosives. CompactSafe(TM), which recently completed a successful pilot program in Israel's primary international airport, is designed for smaller items like laptops, electronics and bottles. CarrySafe(TM) is designed for larger items such as carry-on luggage. Envelopes were tested in the CompactSafe(TM), and boxes and sacks of mail were tested in the CarrySafe(TM). The tests took place in the Company's state-of-the-art Research and Development Center in Petach Tikva, Israel.
Dr. Ehud Ganani, Chairman and CEO of TraceGuard, said: "TraceGuard is proud to report our capabilities in the inspection of mail, in which we surpassed even our own expectations in terms of how accurate our systems are in extracting traces of explosives. The use of mail bombs as a weapon, along the lines of what is currently occurring in the United Kingdom, poses a critical challenge to security authorities, postal services and civilian populations worldwide. We believe that we have unique technological capabilities for this problem and anticipate the opportunity to present our solutions to the appropriate authorities in order to assist in combating this threat."
http://biz.yahoo.com/bw/070212/20070212005443.html?.v=1
TraceGuard succesful in explosive detection system trials
The company’s “CompactSafe” system is due to begin trials by the US Transport Security Administration within the next few months.
Amnon Barzilai 11 Feb 07 12:54
Security technology company TraceGuard Technologies Inc. (Bulletin Board:TCGD.OB) has successfully completed trials of its automated explosives detection system. The company’s product, “CompactSafe” inspects complex items at passenger and baggage screening checkpoints, and works in conjunction with security equipment currently in use to improve accuracy and efficiency in detecting explosives.
TraceGuard chairman and CEO Dr. Ehud Ganani said that the trials showed that the system was 10 times more efficient than manual baggage inspection, and that it took 30 seconds only to scan baggage compared with the four to five minutes needed to carry out a manual inspection. CompactSafe is due to begin trials for licensing by the US Transport Security Administration (TSA) within the next few months.
At present baggage inspection is carried out manually by collecting particles from passengers’ hand luggage using a special cloth, following which the particles are then screened by an analyzer that can identify whether the substance collected is hazardous. TraceGuard’s system works by processing the air inside and outside the item. Traces, molecules, particles and vapors of explosives (or other hazardous materials) are released and extracted from the item’s interior and exterior. These are then fed to a chemical analyzer for further analysis, and the results are displayed on the analyzer’s screen.
Ganani added that the current baggage checking process has become intolerable due to the long queues and the exceptionally high cost. The cost of baggage checking activity in US amounts to $2 billion, and the cost of checking baggage manually by an employee is $70,000, compared with $50,000 for TraceGuard’s system. Ganani estimated the potential market for automated detection systems at 15,000 items.
Published by Globes [online], Israel business news - www.globes.co.il - on February 11, 2007
TraceGuard Has Completed Operational Pilot Development Program of CompactSafe(TM) System for Improving Explosives Detection at Israel's Primary Airport
Thursday February 1, 8:00 am ET
Company Reports Completion of Operational Test of System for Screening Complex Items at Country's Major International Airport
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies Inc. (OTCBB: TCGD - News), a developer of innovative security technologies and solutions, announced today that its CompactSafe(TM) system has completed an operational pilot program at Israel's primary airport. CompactSafe(TM) inspects complex items at passenger and baggage screening checkpoints, and works in conjunction with security equipment currently in use to improve accuracy and efficiency in detecting explosives.
CompactSafe(TM) is designed specifically to extract traces of explosives from items such as laptops, medical devices, cameras and electronic devices. Because of their small size and sophisticated internal structure, these items pose a considerable challenge for current screening technologies and methods. By automating the sampling process, CompactSafe(TM) is expected to improve detection of explosives and reduce overall inspection time. There is currently no system deployed that is designed specifically for the items that CompactSafe(TM) inspects.
TraceGuard's objective for the operational pilot program was to examine CompactSafe's performance and durability in a realistic operational setting. In the course of this operation, which lasted three weeks, CompactSafe(TM) inspected thousands of passenger items and bags. TraceGuard tested CompactSafe(TM) in inspections for items for both carry-on and checked luggage, in conjunction with the CT, X-ray and trace detector machines already deployed at the airport.
Dr. Ehud Ganani, Chairman and CEO of TraceGuard, said: "We are quite pleased to have reached this critical milestone in our mission to enable improved detection of explosives in aviation security and beyond. CompactSafe(TM) is a unique solution to one of the critical challenges in homeland security today, and offers security authorities the dual benefit of enhanced security and improved operational efficiency, both of which are in great demand by our prospective customers. TraceGuard is proud of the successful completion of this operational pilot program, in which we proved that CompactSafe(TM) can operate successfully in the challenging operating environment of a major international airport, and believe that this will help us attain our strategic objectives."
The CompactSafe(TM) system is based on TraceGuard's proprietary extraction method for automated trace sampling. CompactSafe(TM) can be adapted for a variety of applications, including protection of critical infrastructure, narcotics detection and mail-sorting.
http://biz.yahoo.com/bw/070201/20070201005223.html?.v=1
Form 8-K for TRACEGUARD TECHNOLOGIES, INC.
13-Dec-2006
Unregistered Sale of Equity Securities, Entry into a Material Defin
Item 3.02. Unregistered Sales of Equity Securities.
On December 11, 2006, TraceGuard Technologies, Inc. (the "Company") completed a private placement of 1,428,571 units for a total purchase price of $1,000,000 or $.70 per unit. Each unit consists of (i) one share of the Company's common stock, (ii) a warrant to purchase one share of the Company's common stock at an exercise price of $1.50 per share, exercisable for a period of 12 months, and
(iii) a warrant to purchase one share of the Company's common stock at an exercise price of $2.50 per share, exercisable for a period of 36 months. The Company provided the investor certain anti-dilution protection for a three month period. The aforementioned warrants and rights were subject to a limitation that the investor would not have or acquire as a result of exercising such rights "beneficial ownership" (as such term is used in Section 13(d) of the Securities Exchange Act of 1934) of 5% or more of the outstanding common stock of the Company. If the investor cannot exercise such warrants or rights due to the restriction on beneficial ownership, the exercisability of such warrants or rights would be deferred until the investor was able to exercise such warrants or rights without acquiring beneficial ownership of 5% or more of the outstanding common stock.
The aforementioned securities were issued in reliance upon the exemption afforded by the provisions of Regulation S, as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended, based on the fact that at the time of the offer and sale of such securities to the investor, the investor was not inside the U.S., and in reliance on the investors' representations that it was not a "U.S. person" (as defined in Regulation S) and it was not acquiring the securities for the account or benefit of any U.S. person. In addition, the securities bear a Regulation S restrictive legend.
Item 1.01. Entry into a Material Definitive Agreement.
In connection with the investment described above, on December 11, 2006, the Company also entered into an amendment of its license agreement with TraceTrack Technology, Ltd., dated February 15, 2006 (previously filed as Exhibit 10.1 to the Company's filing on Form 8-K dated February 16, 2006), pursuant to which the Company is licensed to employ certain intellectual property owned by TraceTrack in its business. The amendment eliminated the right of TraceTrack to terminate the license if certain development milestones were not achieved by the Company. Dr. Freddy Ornath, who owns approximately 32% of the Company's common stock, is the owner through another entity, of TraceTrack Technology, Ltd.
http://biz.yahoo.com/e/061213/tcgd.ob8-k.html
And with solid volume, much above average.
TraceGuard Announces Appointment of Major General (Ret.) Giora Eiland to Advisory Board
Monday September 25, 9:00 am ET
NEW YORK--(BUSINESS WIRE)--Former National Security Advisor to Israel's Prime Minister Brings Significant Expertise and Strategic Direction to Company's Activities in Aviation and Global Security
TraceGuard Technologies Inc. - (OTC BB:TCGD - News), a developer of innovative security solutions for enabling the detection of explosive materials, today announced the appointment of Major General (Ret.) Giora Eiland to the Company's Advisory Board.
Major General Eiland has held a number of senior positions within Israel's security and defense establishment. He served as National Security Advisor to Israel's Prime Minister from 2004-2006, in which he led the National Security Council in preparing policy analyses and recommendations on matters related to the country's security and foreign affairs. Prior to this, Maj. Gen. Eiland served for more than 30 years in the Israel Defense Force (IDF), most recently as the Head of the IDF's Planning Branch (2001-2003) and Operations Branch (1999-2001). In these capacities, he oversaw the IDF's budget, organization and structure, and well as overall planning and monitoring of land, sea and air operations.
"The appointment of Major General Eiland to our Advisory Board reinforces the TraceGuard's capabilities and commitment to provide its products in a field that has had to evolve quickly because of the grave terrorist threats to international security. Our Board of Advisors consists of experts with a wealth of knowledge and experience who involve themselves comprehensively in helping TraceGuard achieve its objectives. We are honored that Major General Eiland has accepted this position and are confident that his contributions will be of enormous assistance to TraceGuard as we push into this market," stated Dr. Ehud Ganani, TraceGuard's Chairman and CEO.
Beyond Maj. Gen. Eiland, TraceGuard's Advisory Board consists of additional renown security experts, including: Uri Chen, former Director of Intelligence at the Mossad; Major General Arik Yakuel, former head of the Israeli Bomb Squad and head of Strategic Planning and Technology for the Israeli Police Forces; and Major General Ya'akov Amidor, former Deputy Director of Israeli Military Intelligence (AMAN) and former commander of the IDF Military Congress.
http://biz.yahoo.com/bw/060925/20060925005623.html?.v=1
TraceGuard Technologies, Inc. Receives Strong Upgrade by Respected Research Firm
Monday September 25, 8:06 am ET
Management Reports Successful Test Results to Fight Terrorism through the Extraction and Detection of Liquid Explosives
NEW YORK--(BUSINESS WIRE)--TraceGuard Technologies, Inc (OTC BB: TCGD - News) is pleased to announce that, TRI-STATE Capital (TSC), has upgraded their equity rating on TCGD. This upgrade comes at a time when the company reports successful in-house test results reconfirming its ability to effectively detecting traces of explosives in both liquid and solid form. This report comes shortly after the latest near -disaster at Heathrow airport in which terrorist were attempting to use liquid explosives to inflect mass casualties and destruction.
The upgrade is also due to the company entering a 12-month joint development program with industry leader Rapiscan Systems a subsidiary of OSI Systems (NASDAQ: OSIS - News). TraceGuard will be working with Rapiscan to develop an advanced combined bulk/trace detection system for interdiction of explosive devices and weapons.
TSC is noted for their work with, account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media. To view the entire independent research report, please click on the attached URL: http://www.otclive.com
Dr. Ehud Ganani, CEO and Chairman of TraceGuard states, "We are honored to have a quality independent research firm review our overall operations and progress and to provide the resulting upgrade. This further confirms to our shareholders that our company is headed towards growth and adding value to our shareholders". Dr. Ganani further stated, "It is clear our company is at the cutting-edge of trace extraction and detection technology in a world ridden by terrorism and threats to security. We look to continue our aggressive stance toward growth through mergers and acquisitions as well as establishing key strategic alliances including ITL Optronics (TASE: ITL) and Rapiscan (NASDAQ: OSIS - News).
http://biz.yahoo.com/bw/060925/20060925005618.html?.v=1
TraceGuard system detects explosives in hand luggage
The company successfully conducted an in-house test of its system for the detection of solid and liquid explosives.
Amnon Barzilai 17 Sep 06 16:01
Petah Tikva-based TraceGuard Technologies Inc. (TCGD.OB) has successfully conducted an in-house test of its system for the detection of solid and liquid explosives in hand luggage. The test followed the attempt by terrorists to blow up US-bound planes from Heathrow Airport last month.
TraceGuard chairman, president and CEO Dr. Ehud Ganani said the system would almost totally prevent the smuggling of explosives, which could be used to make improvized bombs during flight.
TraceGuard was founded in 2005 by CSO Dr. Fredy Ornath to develop equipment for the detection of explosives on carry-on luggage and air cargoes. The company’s technology can sniff out explosives using standard detection processes. To develop detection protocols for explosives in hand luggage, the company built a sterile room in which thousands of pieces of hand luggage were placed, in order to formulate different scenarios. About 1,000 tests have been conducted to date. Each machine is expected to cost hundreds of thousands of dollars.
TraceGuard has raised $4.6 million from private investors since it was founded.
Published by Globes [online], Israel business news - www.globes.co.il - on September 17, 2006
TraceGuard Reports Successful Test Results in Extracting and Detecting Liquid Explosives
Tuesday September 12, 7:28 am ET
Company Addresses Current and Enormous Threat to Aviation Security
NEW YORK--(BUSINESS WIRE)--Sept. 12, 2006--TraceGuard Technologies Inc. (OTC BB:TCGD - News), a developer of innovative security technologies and solutions, based on the automated detection of trace amounts of explosives, today reported that, in conjunction with the most recent threats to airline security last month, the Company conducted in-house tests reconfirming its ability to enable the effective detection of traces of explosives in both solid and liquid form.
The test results reaffirmed that TraceGuard's unique technology has and does possess the ability to enable the effective detection of explosive traces, as small as 50 milligrams, in both solid and liquid forms.
Utilizing the Company's CarrySafe(TM) prototype, the test involved placing minute quantity of RDX in a solution format mixed with water in a baby's drinking bottle. The bottle was placed in a sports duffel bag with other items regularly taken during standard travel. The bag was placed in the CarrySafe(TM) prototype, which ran its cycle according to standard detection processes. After the trace extraction phase, the filter was placed in a standard Ion Mobility Spectrometer (IMS) detector for analysis, which is the same detector utilized by TSA and authorities worldwide for explosive detection. The analysis demonstrated a definitive, positive signal of RDX explosive material on the filter clearly verifying the efficacy of TraceGuard's technology.
""The recent near-disaster at Heathrow, in which terrorists were attempting to use liquid explosives to inflict mass casualties and destruction, brought aviation security, or the lack thereof, once again to international headlines. TraceGuard has now completed a series of successful tests to confirm the Company's unique capability in extracting and enabling detection of any explosive substance, in both solid and liquid form," stated Dr. Ehud Ganani, CEO and Chairman.
"We are moving ahead with our strategic plan and business model more confident than ever, that TraceGuard's technology will address ever-present and continued threats to aviation and a host of other industries that are threatened by terrorism," Dr. Ganani concluded.
http://biz.yahoo.com/bw/060912/20060912005780.html?.v=1
Buying into crisis
Investors often seek opportunities after calamitous news events. But that may be the worst moment to predict the future.
By Ellen McGirt, Fortune senior writer
August 29 2006: 7:36 AM EDT
(Fortune Magazine) -- The recently thwarted plot in Britain to blow up airliners headed for the U.S. was chilling news that put the world back on high alert. But with the fear - for many investors, anyway - came the search for opportunity.
Some evidently found it in a Bloomberg.com article about the newly apparent dangers of liquid explosives. Buried near the end was a reference to a New York-based start-up called TraceGuard Technologies (Charts). The company has developed a machine that it says can detect chemicals used to create explosives hidden in carry-on luggage without opening the bags. The wee bulletin-board stock - its market cap didn't crack $19 million - spiked up 64% on the mention.
Not bad for a company whose product doesn't exist except in prototype. The machines aren't in any airports and aren't likely to be there anytime soon - they don't have federal approval. Within days reality returned, and TraceGuard's shares plummeted right back to where they'd started.
For anyone hunting a market opportunity in the terror madness, the episode was instructive. A lucky few may have bought and sold at exactly the right moments, earning themselves a bunch of cash and bragging rights at their next barbecue. But the more likely result for an investment in such a stock was a lot less glamorous.
And that is the peril for those who seek opportunity in calamity. Crisis investing may seem savvy, but for most individual investors it's a slightly ghoulish version of stock market gambling.
For starters, information travels too quickly and too widely these days for the average investor to get a leg up after a news event. "Things get priced into stocks very quickly," says Dirk van Dijk, research director of Zacks Investment Research.
And often as not, investors have some information, but not the full picture, says Pete Morici, an economist and professor of business at the University of Maryland. "Crisis investing is extremely difficult for the average investor, who doesn't have the ability to quickly find other information about the consequences of an event."
http://money.cnn.com/magazines/fortune/fortune_archive/2006/09/04/8384740/index.htm?source=yahoo_quo...
TraceGuard To Launch CompactSafe(TM) System for Automated Trace Extraction of Explosives for Compact Items
Tuesday August 22, 7:30 am ET
Company Announces Development of Breakthrough System for Screening Complex, Sophisticated Devices in Order to Advance Aviation Security
NEW YORK--(BUSINESS WIRE)--Aug. 22, 2006--TraceGuard Technologies Inc. (OTC BB:TCGD - News), a developer of innovative security technologies and solutions, announced today that the Company plans to launch CompactSafe(TM), a unique system for inspecting compact electronic items at passenger checkpoints at airports and other transportation hubs. CompactSafe(TM) is based on TraceGuard's proprietary automated trace explosive extraction method, which extracts traces of explosives and other hazardous materials from both the internal contents and external surfaces of inspected items.
CompactSafe(TM), currently under development, is designed specifically to extract explosives from items like laptops, medical devices and cameras. Because of their small size and sophisticated internal components, these items pose a considerable challenge for current screening technologies and methods. CompactSafe(TM) performs a non-intrusive, non-destructive extraction of the air molecules surrounding the inspected item, which allows for significantly improved accuracy in removing traces of explosive materials. Additionally, the automation of the screening process will allow the Transportation Security Administration (TSA) and other security agencies to reduce manpower and operating costs.
CompactSafe(TM) offers a unique solution to a serious threat and could potentially become an industry standard at airports worldwide. There is currently no system deployed for automated trace extraction for the items that CompactSafe(TM) is designed to inspect. The system is intended to be used as an addition to existing X-ray and detection equipment already deployed at airports, and is expected to begin field evaluations by the end of 2006, assuming completion of TraceGuard's internal testing.
"Clearly TraceGuard is at the cutting edge of trace extraction and detection technology in a world ridden by terrorism and threats to security. As we move ahead with a strong mergers and acquisitions strategy and creation of key strategic alliances including ITL Optronics (TASE:ITL) and Rapiscan (NASDAQ:OSIS - News), we remain committed to our mission of providing the most effective solutions in the identification of hazardous materials and homeland security. With CompactSafe(TM), we are committed to providing a unique solution to a complex and challenging security dilemma," stated Dr. Ehud Ganani, Chairman and Chief Executive Officer of TraceGuard.
Beyond aviation security, TraceGuard is also exploring additional applications for CompactSafe(TM), including inspection at subways, rail and other transportation hubs, as well as mail-sorting applications.
http://biz.yahoo.com/bw/060822/20060822005295.html?.v=1
Security technology trumped by other concerns
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy John Shinal, MarketWatch
Last Update: 6:00 PM ET Aug 18, 2006
SAN FRANCISCO (MarketWatch) - Developing new equipment is only half the battle for young companies whose security technologies could help protect air travelers from terrorists.
Getting their products sold and implemented is the hard part.
Just ask Roger Spillmann, Chief Executive of HiEnergy Technologies Inc.of Irvine, Calif. The company's equipment is designed to detect the type of explosives that the terrorist suspects arrested last week in London allegedly planned to use to blow up planes.
But after long discussions with officials at several large airports, including Los Angeles International and Atlanta's Hartsfield-Jackson International Airport, the firm failed to win a contract for its suitcase-sized device that uses low-level radiation to scan for explosive molecules.
A big reason for the miss in Atlanta had to do with the health of federal airport security workers, who'd suffered high rates of injury handling more than 1 million pieces of luggage per month at Hartsfield -- the world's busiest airport by passenger volume in 2005.
So when the Transportation Security Administration began planning to build a new $170 million baggage-scanning system, it insisted on a solution that was "in-line," meaning it could work within the airport's automated baggage-handling process.
"Under the old system, TSA employees had to lift every bag to run it through the EDS (explosive detection system)," said airport spokeswoman Felicia Browder. "They wanted the new one to be in-line," she said, to remove what's called "the human element."
That meant HiEnergy was out of luck.
The injury rate had become "a bit of a political football" for the TSA, said Spillmann, whose whose firm recently won a testing and consulting contract with the Southeastern Pennsylvania Transportation Authority, which runs the mass transit system in Philadelphia.
"Because we didn't have an in-line product, we didn't have a solution for the aviation industry," Spillmann said.
The company's experience illustrates how implementation of even the most advanced security equipment can be slowed or stymied by factors that have nothing to do with its technology.
Even though equipment to detect explosives and identify terrorists is being developed and marketed by dozens of companies - from small startups to giants such as General Electric Co. (GE : ) - its deployment is often limited, and thus imperfect, security experts say.
"The machines are not out there in sufficient quantities, for reasons that have more to do with the human element than with the technology, said Mike Maddaloni, president of a security consulting firm, Business Security Solutions Inc., and former head of corporate security for Wyeth Pharmaceuticals for 14 years.
Those human elements can range from the health of security workers to the patience of business and leisure travelers.
"How widely these machines get deployed depends in large part on what the public will put up with," said Maddaloni, a former secret service agent assigned to the White House security detail.
The upshot is an air transportation system that is safer than it was five years ago, but far from foolproof.
When compared to the time before Sept. 11, 2001, "airplanes are safer, yes, but there are still risks you can't eliminate," Maddaloni said.
Finger-pointing in London
One thing that can complicate the deployment of new technologies or procedures is the overlapping relationships between the airlines, airport operators and security agencies like the TSA.
While all three are responsible for parts of airport security, they each have different missions and are managed separately.
As public companies that need to make a profit, the airlines have to balance concerns about passenger safety with the importance of keeping their planes in the sky.
Airports, on the other hand, handle security for multiple airlines -- a more complex task - and are thus often move slower as they seek to balance the risk of terrorism with passenger's convenience.
In London, where the arrest of a group of alleged terror plotters triggered the latest hand-wringing about airport security, at least two airlines have criticized the operator of the city's Heathrow Airport after it ordered all carriers to cut 30% of weekend departures.
The airlines, British Airways and Ryanair Holdings Plc's Ryanair, accused the operator, BAA Plc, of being "unable to provide a robust security search process and baggage operation" at Heathrow.
Ryanair's statement went so far as to accuse the U.K. government of "allowing the extremists to achieve many of their objectives," including disrupting the country's economy. See full story.
Such conflicts aren't limited to overseas airports.
In Atlanta last year, the regional TSA official wanted to reduce the number of personnel at Hartsfield, only to backpedal after the airport's general manager spoke out publicly against the plan.
A TSA spokesman didn't return a phone call seeking comment for this story.
Such controversy can complicate the efforts of small technology firms that are trying to get their equipment used in airports.
To be successful, they often have to partner with larger firms and wade through the government's often-tortuous procurement process.
"Certain RFP's (requests for proposal) do take years," said Steve Lancaster, vice president of Guardian Technologies International, of Herndon, Va.
The company makes software used to analyze complex images take by X-ray machines and other radiological equipment. Just out of the development phase, it's testing its product in overseas airports in Russia and Venezuela, but so far hasn't earned a trial in the U.S.
"We'd like things to move faster," said Lancaster, adding that the TSA's procurement process isn't much different from other federal agencies. "We're going through the proper steps to make it happen," he said.
Since the arrests in London last week, where the suspected plotters allegedly planned to smuggle liquid explosives onto planes, large makers of airport X-ray machines have been calling the company, asking about integrating its software.
"We can detect solid or liquid explosives that no screener can, no matter how well-trained they are," Lancaster said.
(The company has seen its stock soar on the pink sheets during the last week.)
Still, the firm, which he described as "self-funded," is hedging its bets by making a product for the health care market.
"We'd love to have a large amount of federal government revenue, but at the end of the day we live with what we get," said Lancaster.
John Shinal is the technology editor of MarketWatch in San Francisco.
http://www.marketwatch.com/News/Story/Story.aspx?guid={DD167595-F82B-4D46-B48F-6ECD1F867A58}&sit....
Dubi
Hi Larry,
Patience pays (sometimes)
Regards,
Dubi
It's UP nicely, Dubi ...
TraceGuard and OSI Systems Subsidiary Rapiscan to Jointly Develop New Bulk/Trace Explosive Detection System
Friday August 11, 10:07 am ET
Company Joins Industry Leader to Improve Aviation Security
PETACHTIVKA, Israel and NEW YORK--(BUSINESS WIRE)--Aug. 11, 2006--TraceGuard Technologies Inc. (OTCBB: TCGD - News), a developer of innovative security technologies and solutions, today announced that it has entered into a 12-month joint development program with Rapiscan Systems ("Rapiscan"), a subsidiary of OSI Systems (NASDAQ: OSIS - News), in order to develop TraceScan, an advanced combined bulk/trace detection system for interdiction of explosive devices and weapons Upon development, TraceScan will be marketed exclusively by Rapiscan primarily to the U.S. Government and also through its global direct sales and distributor network.
The principal objective of the TraceScan system is to be the centerpiece of a fully integrated checkpoint x-ray system with secondary screening based on automated trace extraction and detection capabilities that can be easily integrated into current aviation passenger checkpoints. TraceScan will seek to improve accuracy of detection for both explosive and non-explosive weapons, as well as to achieve higher passenger checkpoint efficiency, throughput and lower manpower requirements by reducing the number of screeners needed at checkpoints.
To complete the development of TraceScan, engineers from both companies will integrate TraceGuard's CarrySafe system for automated trace extraction and collection of hazardous materials with Rapiscan's recently-launched 620XR transmission x-ray inspection system, and its automated baggage conveyance system which separates cleared items from items selected for secondary screening. CarrySafe is designed for carry-on luggage and is currently at an advanced stage of development. TraceScan intends to also incorporate an off-the-shelf Ion Mobility Spectrometry (IMS) explosive trace detection sensor from one of the leading providers currently on the market.
Dr. Ehud Ganani, TraceGuard's CEO and Chairman, stated, "The development of TraceScan fulfills an important strategic objective for TraceGuard. Our goal remains to integrate TraceGuard's automated trace extraction technology into existing explosive detection systems. The joint development program with an industry leader such as Rapiscan is a first step in this direction and will allow us to further validate our system. The development program will also allow us to combine the benefits of non-explosive threat detection and bulk explosive detection with the advantages of trace detection, and to offer an integrated system that maximizes the strengths of all the technologies involved."
Mr. Peter Kant, Rapiscan Systems' Vice President for Government Affairs, stated, "We are excited about the potential of integrating multiple detection methodologies in a single system. The operational and security enhancements could prove exceptionally valuable."
About TraceGuard
TraceGuard Technologies Inc. develops innovative security technologies and solutions for explosives detection, a growth segment of the US and global homeland security market. The Company's systems are designed to improve the screening and detection of explosives, narcotics, biological contaminants and other hazardous materials, and are targeted to meet the needs of airport and aviation security agencies worldwide. By advancing the efficacy and efficiency of trace extraction, TraceGuard's product suite offers dramatic improvement over the current mechanisms in place at present.
TraceGuard is a US public company traded on the Over-The-Counter Bulletin Board (TCGD.OB). The Company's management team has broad experience and expertise in the international defense and homeland security sectors, including product development and engineering, operations, marketing and business development. TraceGuard is headquartered in New York and maintains a Research and Development Center in Tel Aviv, Israel. For additional information on TraceGuard, please contact TraceGuard at 1 866-401-5969 or at www.traceguard.com.
http://biz.yahoo.com/bw/060811/20060811005217.html?.v=1
Dubi
Form 8-K for TRACEGUARD TECHNOLOGIES, INC.
7-Jul-2006
Entry into a Material Definitive Agreement, Financial Statements
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On July 6, 2006, TraceGuard Technologies Ltd. (the "Subsidiary") entered into an amendment to the agreement with Dr. Ehud Ganani, initially entered into on May 7, 2006. Pursuant to the amendment Dr. Ganani will forego the grant of an aggregate of 990,000 stock options of TraceGuard Technologies, Inc. (the "Company") in exchange for the grant of 550,000 restricted stock units in accordance with the 2006 Global Stock Incentive Compensation Plan adopted by the Company.
On July 6, 2006, the Subsidiary entered into an employment agreement with David Ben Yair effective June 1, 2006 pursuant to which Mr. Ben Yair serves as Chief Financial Officer of the Subsidiary until the termination of the agreement, in accordance with its terms, or the death or disability of Mr. Ben Yair. Mr. Ben Yair shall receive a monthly salary of 30,000NIS and an annual bonus of up to 90,000NIS upon achieving certain performance objectives. Mr. Ben Yair will be issued 170,000 restricted stock units of the Company in accordance with the 2006 Global Stock Incentive Compensation Plan adopted by the Company.
On July 6, 2006, the Subsidiary entered into an employment agreement with Gil Perlberg effective June 1, 2006 pursuant to which Mr. Perlberg serves as Vice President Product Management & Engineering of the Subsidiary effective June 1, 2006 until the termination of the agreement, in accordance with its terms, or the death or disability of Mr. Perlberg. Mr. Perlberg shall receive a monthly salary of 40,000NIS and an annual bonus of up to 120,000NIS upon achieving certain performance objectives. Mr. Perlberg will be issued 170,000 restricted stock units of the Company in accordance with the 2006 Global Stock Incentive Compensation Plan adopted by the Company.
On July 6, 2006, the Subsidiary entered into an amendment to an agreement entered into on February 15, 2006 with M.S. Materials Ltd. pursuant to which the Subsidiary engaged M.S. to render it advisory and consulting services through its employee Dr. Fredy Ornath. The amendment, among other things, changed the number of options to be granted to M.S. from 1,200,000 to 1,080,000.
http://biz.yahoo.com/e/060707/tcgd.ob8-k.html
Dubi
Technical Support Working Group Invited TraceGuard to Present a Poster
Thursday July 6, 9:25 am ET
NEW YORK--(BUSINESS WIRE)--July 6, 2006--TraceGuard Technologies Inc. (OTC:TCGD - News), a developer of innovative security technologies and solutions, was invited by the (TSWG) http://www.tswg.gov/tswg/news/news.htm#033006 to present a poster as part of the Explosives Detection Conference held in Miami, 12-16 June 2006.
The TraceGuard poster was presented by Dr Fredy Ornath, the Company's Chief Scientist. Dr Ornath enjoys a global reputation in the field of explosive detection, and he was the person responsible for the technological breakthrough that underpins TraceGuard's automated trace extraction methodology.
The purpose of the conference was to provide a forum where Government, industry and academia could share information on the latest advances in the field of explosive detection field. Delegates discussed ongoing research and development, and learned about requirements for operational use of explosives detection systems. One of the emerging themes at the conference was the growing importance of explosive trace detection in all forms of mass transportation, with particular focus on air transportation.
TraceGuard President and Chief Executive Officer, Dr Ehud Ganani:
Dr Ornath's participation in this conference proved very helpful in expanding TraceGuard's professional and commercial contacts and in preparing the ground for future collaboration. The search for detection solutions that increase speed and efficiency, that deliver suitable reliability, and that help reduce the dependence on the human factor, has been identified as a top priority by the Transportation Security Administration and other bodies engaged in the explosive detection field. We are determined that our automated explosive trace extraction technology will play a major role in future industry-wide solutions for cargo inspection, hold luggage inspection, carry-on luggage inspection, and small items inspection.
TraceGuard recently opened its new research and development facility in Petach Tikva, Israel, and a team of highly qualified engineers and scientists is working on the development of a series of future systems including CarrySafe for screening carry-on luggage, HoldSafe for screening checked-in hold luggage, and CargoSafe for screening palletized air cargo.
About TraceGuard
TraceGuard seeks to materialize and commercialize its innovative technology in the expanding market of explosive trace extraction and collection systems. The company plans to become a leading supplier of the core collection module and other products to major players in the transportation security industry. TraceGuard is a US publicly-traded company with headquarters in New York City and a sales and marketing office in Arlington, VA. For additional information, please visit www.traceguard.net.
http://biz.yahoo.com/bw/060706/20060706005454.html?.v=1
Dubi
High Tech Border Security Through Innovations in Sensor, Surveillance and Detection Technology
Thursday June 29, 9:00 am ET
BorderAndPortSecurity.com Reviews Security Market Perspectives From L-3 Communications Holdings, Inc., Detection Security Systems, TraceGuard Technologies, Technest Holdings and Sense Holdings
POINT ROBERTS, WA and DELTA, BC--(MARKET WIRE)--Jun 29, 2006 -- www.BorderAndPortSecurity.com (BPS), and www.HomelandDefenseStocks.com (HDS), investor news portals for border, port and Homeland Security, present "High Tech Border Security through Innovations in Sensor, Surveillance and Detection Technology," a review of the current border security environment. Industry experts Brian Ruttenbur, Equity Research Analyst with Morgan Keegan & Co. Inc., Jack Mallon, Founder and Senior Managing Director of Mallon Associates, and Lou Kelly, President & CEO of The Security Network, provide insights into the drivers and technology currently in focus. Industry participants L-3 Communications Holdings, Inc., Detection Security Systems, Inc., TraceGuard Technologies, Inc., Technest Holdings, Inc. and Sense Holdings, Inc. reveal product portfolios as they work to address border security issues.
While the President pushes for increased manpower along the borders, additional and effective technology helps to supplement this need. Working to contribute to the overall technology border technology portfolio are several firms developing a variety of innovative security products to help protect the nation's borders.
SYColeman, a division of L-3 Communications Holdings, Inc. (NYSE:LLL - News), addresses the specific challenges of border security efforts through Praetorian, the Company's next-generation intelligent surveillance solution. The end result, according to Corby Lawrence, Praetorian Director of Marketing and Sales, SYColeman, "would be an integrated view of vast miles of borders, permitting the U.S. far improved situation awareness leading to better security through earlier detection, visual and other sensor confirmation of areas of concern, and appropriate response levels, with fewer false alarms and better labor usage across the borders' breadth."
Detection Security Systems, Inc. (Other OTC:DSYS.PK - News), an explosive and weapon detection technology company, has a portable device called the Milliscope. Gabe Bitton, Detection Security's CEO, describes, "The Milliscope was designed to meet an increasing demand within the security arena for an accurate and portable explosive detection device that can be used alone or in conjunction with other screening solutions. This technology will also help to reduce the incidence of false alarms in concealed weapons detection and concealed explosives detection."
For industry participants looking to take advantage of this growing yet event driven market, forward thinking is necessary to be able to provide relevant and innovative solutions to security needs.
As Joe Mackin, CEO of Technest Holdings, Inc. (OTC BB:TCNH.OB - News) describes, "Technest prides itself on being a nimble and responsive organization. The homeland security industry is certainly event driven, but Technest is committed to focusing on the specialty engineering niches we have developed. We flew over the World Trade Center to detect hotspots and off-gassing of chemicals in support of rescue efforts. We helped locate tiny pieces of the Space Shuttle Columbia, and we provided support to rescue and recovery following Hurricane Katrina, to name a few."
According to Dr. Ehud Ganani, Chairman and CEO for TraceGuard Technologies, Inc. (OTC BB:TCGD.OB - News), "TraceGuard is dedicated to developing solutions and applications that will help the industry become more proactive and less reactive to events. TraceGuard solutions are specifically designed with four main objectives: 1) to reduce the number of people waiting in line at airports; 2) to reduce the number of security screening personnel required to man the checkpoints; 3) to be sensitive enough to extract particles from fingerprints left by someone handling the explosives, and 4) to be deployed in conjunction with existing screening technologies."
ADVERTISEMENT
The only effective way, according to Dore Perler, CEO of Sense Holdings, Inc., to confront the nation's security needs is through the intelligent application and mass-deployment of secure-technology. "Sense is well positioned to assist in these efforts with mature field-proven biometric identification technology. Also, together with Oak Ridge National Laboratory, we are developing patented MEMS-based equipment designed to quickly and inexpensively detect a wide-spectrum of explosives and chemical warfare agents," states Perler.
As Brian Ruttenbur, Equity Research Analyst with Morgan Keegan & Co. describes, "It is clear that terrorism is now something the U.S. will have to deal with on a daily basis, and funding will continue to flow to technologies that help deter and counteract terrorist activities."
To Read "High Tech Border Security through Innovations in Sensor, Surveillance and Detection Technology" in Full Click Here: http://www.borderandportsecurity.com/Articles/062806a.asp
BorderAndPortSecurity.com (BPS) and HomelandDefenseStocks.com (HDS) do not make recommendations, but offer unique information portals for investors to research news, articles, and recent research. HDS provides a variety of global defense and security content through: The Defense Market Report, by James H. Smith, Homeland Defense Business Correspondent for MSNBC, CNN and the BBC; The Spade Defense Index with Scott Sacknoff, Mallon's Security Report by Mallon Associates and the HDS Blog all available at: http://www.homelanddefensestocks.com.
HDS also includes one of the most comprehensive free Homeland Security stock lists in the investment industry: www.HomelandDefenseStocks.com/Companies/HomelandDefense/Stock_List.asp
Homeland Security Portal Sponsors: (BPS and HDS are compensated by Detection Security Systems, Technest and TraceGuard as disclosed in disclaimer)
Detection Security Systems, Inc. (Other OTC:DSYS.PK - News) For More Info: http://www.homelanddefensestocks.com/CO/DSYS/Default.asp
Technest Holdings, Inc. (OTC BB:TCNH.OB - News) For More Info: http://www.homelanddefensestocks.com/CO/THNS/Default.asp
TraceGuard Technologies, Inc. (OTC BB:TCGD.OB - News) For More Info: http://www.homelanddefensestocks.com/CO/TCGD/Default.asp
http://biz.yahoo.com/iw/060629/0140220.html
Dubi
TraceGuard Acquires ITL Optronics Subsidiary Laser Detect Systems (LDS)
June 20, 2006 3:14:00 PM
TraceGuard Technologies Inc. (OTCBB:TCGD), a developer of innovative security technologies and solutions, today announced that it had executed a non binding Letter of Intent with ITL Optronics, to acquire Laser Detect Systems (LDS) Ltd, a developer of long distance, remote sensing, laser based trace detection solutions.
LDS was incorporated as a subsidiary of ITL Optronics in 2004 and has developed and commercialized a number of applications of a spectroscope laser that detects explosives used by suicide bombers, as well as explosives in booby traps and remote controlled bombs. In conjunction with Israel's Ministries of Defense and of Internal Security, LDS has been developing military applications of the system. The Company also develops laser mineral-identification systems, and is exploring ways of using its technology in medical diagnostic, food quality control and other industrial applications.
The consummation of the acquisition is conditional upon the performance of a due diligence review to the satisfactory of the parties, which is anticipated be performed until September 2006, the receipt of any and all approvals required by law, including the approvals of the respective Board of Directors and shareholders of the parties (to the extent required) and the execution of definitive agreements. Pursuant to the Letter of Intent, TraceGuard shall issue to ITL Optronics shares and grant ITL Optronics options for the purchase of shares in a manner that following the consummation of the transaction (if such options are exercised in full), ITL Optronics shall hold approximately 22% of the issued share capital of TraceGuard at the date of the Letter of Intent. In addition, subject to LDS meeting certain milestones related to the performance of LDS, ITL Optronics shall be issued additional shares and options of TraceGuard which represent as at the date of the Letter of Intent approximately 47% of the issued share capital of TraceGuard. The aforesaid holdings were calculated based on the issued share capital of TraceGuard as at the date of this Letter of Intent and are subject to dilution as a result of future issuances (to the extent executed).
Dr. Ehud Ganani, TraceGuard Chairman and Chief Executive Officer said, "There are clear synergies to be gained by the acquisition of LDS by TraceGuard and their affiliation. TraceGuard has developed proprietary solutions in the field of trace extraction and collection and LDS has developed proprietary solutions in the field of hazardous materials detection. This transaction, which we anticipate to become definitive by mid September 2006 and to close by mid November 2006, is part of our recently announced intention of furthering our growth strategy through acquisitions, and will enable TraceGuard to offer the market a much wider spectrum of solutions."
Mr. Eli Venezia, ITL Optronics chief executive officer said, "We are very excited by the opportunities that this transaction offers. By working under the umbrella of a company that specializes in the same field of explosive detection solutions, I am certain that the LDS team will have great scope for further developing our areas of expertise. The fact that both companies are working on commercial as well as on military applications is another reason to be confident of the success of this acquisition."
Prior to the recent transaction, LDS was a subsidiary of ITL Optronics, a company that has been active in the electro-optics field for more than 30 years, whose shares are traded on the Tel Aviv Stock Exchange (TASE.) Under the terms of the Letter of Intent LDS will become a wholly owned subsidiary of TraceGuard. Based on LDS actual sales performance and other results-based factors, and structured as a share swap exchange.
TraceGuard recently opened its new research and development facility in Petach Tikva, Israel. The Company is in the advanced stages of developing its CarrySafe system which is designed to be compatible with HBS (Hold Baggage Screening) and airport security standards. At the core of the CarrySafe system is TraceGuard's patent-pending automated non-invasive trace extraction and collection method used in the detection of explosives in suspect carry-on luggage.
Dubi
TraceGuard Presents at Major Investment Conferences in New York
Thursday June 15, 2:01 pm ET
NEW YORK--(BUSINESS WIRE)--June 15, 2006--TraceGuard Technologies Inc. (OTC:TCGD - News), a developer of innovative security technologies and solutions, is participating at the Rodman & Renshaw 3rd Annual Security, Biodefense & Connectivity Investor Conference on June 19 at the St. Regis Hotel, New York.
TraceGuard's President and Chief Executive Officer Dr Ehud Ganani, recently described by BusinessWeek Online as "Israel's defense guru," will be among a select group of CEOs making presentations to investors at the conference.
On June 21, Dr. Ganani will again be making a presentation to potential investors, this time at the Wall Street Reporter Magazine Small-Cap Discovery Conference at the Roosevelt Hotel, Madison Avenue. One of the features of this investment conference is that each presenting CEO is grilled by a Smart Money panel of fund managers and investment gurus.
Dr. Ganani said, "Losing the war on terror is not an option. But with 21 out of 21 airports failing to detect explosives being smuggled onto aircraft in a recent US government-sponsored sting operation, luggage screeners are clearly working with inadequate solutions. The market is demanding better explosive detection. We believe that TraceGuard is ideally positioned to meet this demand. We regard these two investor conferences as excellent opportunities to present TraceGuard's achievements, to show investors our unrivaled potential and to network with other security and technology companies."
Last month, the Company opened its new research and development facility in Petach Tikva, Israel, where engineers are in the advanced stages of developing TraceGuard's CarrySafe system for carry-on items. This will be designed to be compatible with HBS (Hold Baggage Screening) and airport security standards. At the core of the CarrySafe system is TraceGuard's patent-pending automated non-invasive trace extraction and collection method used in the detection of explosives in suspect luggage.
http://biz.yahoo.com/bw/060615/20060615005729.html?.v=1
Dubi
HomelandDefenseStocks.com Announces New Featured Security Company, TraceGuard Technologies Inc., Targeting Airports and Border Crossings With Trace Extraction and Collection Systems
Monday June 5, 9:00 am ET
POINT ROBERTS, WA--(MARKET WIRE)--Jun 5, 2006 -- www.HomelandDefenseStocks.com (HDS) and www.BorderandPortSecurity.com (BPS) leading investor and industry portals for the homeland defense and security sector, announce new featured security technology company, TraceGuard Technologies Inc. (OTC BB:TCGD.OB - News). TraceGuard Technologies is currently developing a portfolio of trace extraction and collection systems: CarrySafe, HoldSafe and CargoSafe at its new R & D center in Petach Tikva, Israel. The systems are designed to be used in screening methods for identifying drugs, explosive and biological threats at airports, border crossings and ports and can be integrated into existing systems.
The newly acquired facility gives the Company the ability to conduct required testing of its products, systems and technologies to bring the products to market. TraceGuard's technologies target areas that face a potential high risk of terrorist attacks. CarrySafe is being designed to fully automate the extraction of explosive traces during the security screening of carry-on luggage. HoldSafe is being engineered to screen checked luggage and is designed to be easily integrated into existing Computer Tomography Explosive Detection Systems (CT-EDS) luggage screening systems; and the CargoSafe screening system for palletized cargo which is being designed to be integrated into cargo screening systems.
With secure border issues being a recent topic of concern and discussion, Homeland Security is once again gaining momentum with investors and industry. Homeland Security Research Corp reports, "Where the Homeland Security outlay was 12% of the world's total defense outlay in 2003, it is expected to become 25% of the total defense outlay by 2015. This reflects a shift which originates from the restructuring of defense budgets in order to be better prepared to address the threats of terror." HSRC forecasts global Homeland Security markets will triple from $60B in 2006 to $180B in 2015.
TraceGuard Technologies' management and Board include a vast military and security expertise base. Dr. Ehud Ganani, Chairman and CEO, is a security technology expert, previously CEO of IMI (Israeli Military Industries) and VP Marketing & Business Development at RAFAEL, one of the top three companies dominating Israeli military production. Dr. Ganani is also Chairman of the Board of DefenSoft Ltd., which designs and supplies defense array design systems, a member of the board of directors of Gilat Satellite Networks Inc. and a former visiting professor and research fellow at the University of California at Davis.
TraceGuard Technologies Inc. (OTC BB:TCGD.OB - News) seeks to materialize and commercialize its innovative technology in the expanding market of explosive trace extraction and collection systems.
Corporate Profile, News and more info: http://www.homelanddefensestocks.com/CO/TCGD/Default.asp or visit the Company's website at: http://www.traceguard.net/
(HDS is compensated by TraceGuard as disclosed in disclaimer below.)
HomelandDefenseStocks.com (HDS) does not make recommendations, but offers a unique information portal for investors to research news, articles, and recent research. HDS provides a variety of global defense and security content through: The Defense Market Report, by James H. Smith, Homeland Defense Business Correspondent for MSNBC, CNN and the BBC; The Spade Defense Index with Scott Sacknoff, Mallon's Security Report by Mallon Associates and the HDS Blog all available at: http://www.homelanddefensestocks.com.
HDS also includes one of the most comprehensive free Homeland Security stock lists in the investment industry: www.HomelandDefenseStocks.com/Companies/HomelandDefense/Stock_List.asp
Affiliated Portal: www.NationalHomelandSecurityKnowledgebase.com, (NHSK)
http://biz.yahoo.com/iw/060605/0132629.html
Dubi
TraceGuard Chairman/CEO Dr. Ehud Ganani Featured on BusinessWeek Online
Tuesday May 30, 12:14 pm ET
NEW YORK--(BUSINESS WIRE)--May 30, 2006--TraceGuard Technologies Inc. (OTC:TCGD - News), a developer of innovative security technologies and solutions, today announces that Dr. Ehud Ganani, the Chairman and CEO of TraceGuard Technologies Inc., is currently featured on BusinessWeek Online, where he is introduced as an "Israeli military guru."
In the interview with Diane Brady as part of the Video Views feature, Dr. Ganani described the company's CarrySafe system as designed to extract and collect explosive traces from carry-on items that airport security screeners have identified as suspicious. This system could eventually replace the current laborious manual screening process, which is producing severe bottlenecks as passengers stand in line waiting to be screened.
When Ms. Brady asked whether the lack of technological solutions is the cause of the existing problems, Dr. Ganani described Israel's experience in the search for effective explosive detection solutions. He concluded that a combination of methodology, people and technology was the answer. He referred to media reports of the startling results of a GOA sting operation at the end of 2005 and early 2006, where 21 out of 21 US airports tested were unable to detect explosives being smuggled aboard an aircraft.
Ms. Brady pressed Dr. Ganani to say how explosive detection could be made more efficient and how to reconcile the tension between passenger safety and the wish of passengers to reach their destination quickly. He replied that technology holds the key. He used the CarrySafe system as an example of new technology that is so sensitive in extracting explosive traces that it can identify traces from the fingerprints of someone who handled explosives. "The failure to reduce the lines, the failure to get passengers through quickly to the departure lounge and the failure to reduce the large number of security screening personnel manning the checkpoints together represent a severe loss to the economy," Ganani said.
Regarding the use of security screening in non-airport situations, Dr. Ganani pointed to the examples of Europe, Israel and Iraq, in which terrorists are already targeting venues where large numbers of people congregate. He predicted a time very soon where explosive screening systems will be deployed in shopping malls, bus terminals and other mass transportation networks in the US.
Finally, Dr. Ganani explained that TraceGuard is expanding its trace extraction technology beyond just explosive detection. The company is already engaged in developing the trace extraction technology in the detection of drugs and biological contaminants such as Anthrax.
About TraceGuard
TraceGuard seeks to materialize and commercialize its innovative technology in the expanding market of explosive trace extraction and collection systems. The company plans to become a leading supplier of the core collection module and other products to major players in the transportation security industry. TraceGuard is a US publicly-traded company with headquarters in New York City and a sales and marketing office in Arlington, VA. For additional information, please visit www.traceguard.net.
http://biz.yahoo.com/bw/060530/20060530005702.html?.v=1
Dubi
Dr. Ehud Ganani Sends Open Letter to Shareholders
Thursday May 18, 9:28 am ET
NEW YORK--(BUSINESS WIRE)--May 18, 2006--Dr. Ehud Ganani, Chairman and CEO of TraceGuard Technologies Inc. (OTC:TCGD - News), sends the below Open Letter to Shareholders:
Dear Shareholder,
With the official opening of our new research and development
facility in Petach Tikva on May 18 this week, I am taking this
opportunity to update you on some key events at TraceGuard, and to
share with you my vision for the Company's future.
As you know, I have significantly expanded my role at TraceGuard
since I first joined the Company as Chairman last year. I quickly
realized the tremendous potential of this sector, and I quickly
recognized the need for our products within the sector. Although I had
been a very active Chairman, it was decided that it would be in the
Company's best interests if I were to assume the CEO position as well.
In order to make TraceGuard my top priority, I have relinquished my
involvement in another company where I served as Chairman.
A significant part of my decision to take on the CEO role is my
genuine belief in the potential of this market. Customer demand for
improved explosive collection and detection at airports, port
terminals, border crossings and other public places is all too
evident. Since its inception, the Department of Homeland Security has
repeatedly cited the improvement of explosive detection systems (EDS)
as a top priority, and has continued to channel increased funding
towards developing and fielding better countermeasures.
As late as this past March, screeners at 21 airports across the U.S.
failed to detect undercover investigators who were part of a
government sting operation designed to test the readiness of federal
explosive detection methods. This test, which was widely covered in
the press, was certainly not good news for those of us who travel
frequently. TraceGuard's CarrySafe system, which is designed to
deliver superior capabilities for trace extraction, even with
extremely small samples, would almost certainly have caught all or
most of the hazardous articles in this exercise.
TraceGuard's management team was another major factor in my decision
to take on the role of CEO. In a relatively short period of time, we
have succeeded in appointing accomplished professionals to the
critical roles of product engineering and development, operations,
finance, marketing, and business development. Our team commands a
wealth of proven experience in the American and Israeli homeland
security sectors, which we believe gives a company of our size a
significant competitive advantage.
Additionally, we have put together a first-class Advisory Board, which
includes former high-ranking officials from Israel's military and law
enforcement communities. Our advisors include a former senior Division
Director in the Mossad, a senior official of Israel's Police Agency, a
retired CEO of the Israel Airport Authority, and a retired Major
General who was formerly a Deputy Chief of the Israeli Intelligence
Command. I believe that the knowledge, experience and contacts
provided by this board will be tremendously valuable as we move ahead.
Because of the wide range of technologies associated with EDS and the
dynamic nature of this market, we remain open to the possibility of
making acquisitions to further our growth strategy. We are currently
reviewing several companies that would potentially increase the
potency of our offering.
In short, the outlook is extremely positive for all of us at
TraceGuard, and we are eager to move ahead in addressing what is truly
an important mission. I want to thank you for your commitment to the
Company, and I encourage you to contact me personally if you have any
concerns or questions.
Sincerely,
Dr. Ehud Ganani
Chairman and CEO, TraceGuard
http://biz.yahoo.com/bw/060518/20060518005403.html?.v=1
Dubi
TraceGuard Inaugurates New State-Of-The-Art Research and Development Facility
Thursday May 18, 9:06 am ET
NEW YORK--(BUSINESS WIRE)--May 18, 2006--TraceGuard Technologies Inc. (OTC:TCGD - News), a developer of innovative security technologies and solutions, will officially inaugurate its new state-of-the-art Research and Development Center on Thursday, May 18, in Petach Tikva, Israel.
The 6500 sq ft facility is operated by TraceGuard Technology Limited and incorporates laboratories, design studios and assembly halls. There are clean rooms equipped to handle trace explosives and other highly sensitive materials for testing, and the most stringent safety features have been integrated into the entire facility. The R&D Center is nearing completion of its ISO 9001 accreditation.
The Company plans to develop and test its first generation products that are targeted at the airport security field, in its new R&D Center. Working prototypes of TraceGuard's CarrySafe explosive trace extraction system are already undergoing a comprehensive series of tests within the facility. CarrySafe is designed to fully automate the extraction of explosive traces during the security screening of carry-on luggage and other items in airports, subway stations and densely populated areas that face a high risk of terror attacks.
Additional products under development include the HoldSafe system, engineered to screen checked luggage and designed to be easily integrated into existing Computer Tomography Explosive Detection Systems (CT-EDS) luggage screening systems; and the CargoSafe screening system for palletized cargo, which is designed to be integrated into cargo screening systems. In the future, TraceGuard plans to integrate its proprietary technology into trace analysis systems in transportation terminals, border crossings, mail services, government buildings and food and pharmaceutical plants.
"Our stated aim of helping major players provide greater protection to transportation hubs against terrorist threats has moved closer to reality with the opening of this new state-of-the-art facility," said TraceGuard Chairman and CEO Dr. Ehud Ganani. "We are delighted with the speed in which we have made our new R&D Center fully operational. We are especially pleased that we will now be able to carry out all our work totally in-house. The ability to conduct all the essential testing of new products, systems and technologies under one roof means that we can bring our products to market more quickly. We hope to use the opportunity of the opening of our new R&D Center to meet with representatives from U.S. and international transportation agencies who have expressed interest in integrating TraceGuard's unique solutions in existing and planned transportation facilities."
The explosive trace extraction system developed by TraceGuard and currently being tested in the new R&D Center is based on high-powered air jets, suction vents, and a flexible adaptive enclosure that compresses and decompresses the air surrounding the item being screened. The Company uses this technology to automatically extract and collect traces and particles of material from both interior and exterior surfaces before passing the traces on for analysis by standard chemical analyzers.
Among the visitors expected to attend the opening ceremony on May 18 are TraceGuard stockholders, TraceGuard management and staff, members of the Company's Advisory Board, and company vendors. Also in attendance will be Dr Fredy Ornath, TraceGuard's chief scientist, who invented the Company's patented automatic trace extraction and collection technology.
About TraceGuard
TraceGuard seeks to materialize and commercialize its innovative technology in the expanding market of explosive trace extraction and collection systems. The company plans to become a leading supplier of the core collection module and other products to major players in the transportation security industry. TraceGuard is a US publicly-traded company with headquarters in New York City and a sales and marketing office in Arlington, VA. For additional information, please visit www.traceguard.net.
http://biz.yahoo.com/bw/060518/20060518005383.html?.v=1
Dubi
O/T to company,
National Geographic Channel's 'Explorer: Outsmarting Terror' Highlights the Crucial New High-Tech Tactics Intended to Protect Us
Will Increasingly Sophisticated Anti-Terror Technologies Be The Key To Keeping Us Safe?
Last Update: 11:08 AM ET May 17, 2006
WASHINGTON, May 17, 2006 /PRNewswire via COMTEX/ -- They are an enemy that is elusive and deadly, resilient and implacable. Today's terrorists have incited fear in millions of people by striking where we live, shop, commute, study or work. But can ingenuity and science protect us from an enemy capable of deploying an extreme range of weapons, from low-tech explosives to guided missiles? Will a new generation of defensive technologies be able to outmaneuver terrorists who strive to strike without warning? National Geographic Channel's "Explorer" examines these questions as it investigates the increasingly sophisticated responses to countering terror.
Premiering Wednesday, May 31, at 9 p.m. ET/PT, "Explorer: Outsmarting Terror" shows viewers the scientific technologies being developed to combat terror head-on. From jetliners that repel heat-seeking missiles, to devices that rescue survivors from atop skyscrapers, to robots that detect nuclear weapons, counterterrorism experts are fastidiously creating smart new technological approaches to stay one step ahead of the enemy. "Explorer" reports on the advanced technology at the heart of the strategy to successfully track, combat and defeat terrorists -- or protect us even after they strike.
The difficulty of fighting terrorism is compounded by an enemy that often operates without geographical boundaries or according to the rules of military engagement. Terrorists often seek to achieve shock and drama, deploying premeditated attacks aimed at poorly defended "soft targets" such as office buildings, mass transportation, shopping centers and even schools. And unfortunately, they too often succeed. Since 2001, terrorists have killed more than 24,000 people around the globe.
"To fight terrorism, you need to think outside the box," says Boaz Ganor, executive director for The International Policy Institute for Counterterrorism in Israel. "You need to find new tactics, new measures and always try to be one step ahead, one step before the terrorists themselves."
"Explorer: Outsmarting Terror" highlights these new tactics, starting with airport security. After passenger airplanes were used as weapons on September 11, 2001, airports have upgraded security procedures that utilize X- ray machines and scanners. But these tools are not always sophisticated enough to satisfy experts. "Explorer" demonstrates the latest inventions in airport security, including the space-age "Tadar," which can detect threatening objects hidden on a person, and "Sentinel II," which can sniff out 40 different types of chemical substances. Inventors have also perfected a sophisticated system that detects missiles targeted at aircraft and creates a protective bubble of radar -- setting off flares to confuse a heat-seeking missile's guidance system.
Anti-terror experts featured in "Explorer: Outsmarting Terror" also provide insight into a range of counterterrorism and life-saving inventions, including robots that can sense deadly toxins, a car bomb detector that "sees" through metal and a personal escape device called the Spider, designed to save people trapped inside a building up to 50 stories high.
"Explorer: Outsmarting Terror" details how infrastructure experts are embracing new technologies to help make buildings terrorproof. Structural engineers such as Gil Hegemier are focusing on reducing the potential for a catastrophic building collapse. In the 1995 Oklahoma City bombing, for example, most of the fatalities were caused by the collapse of the building, not the initial explosion. Hegemier is using a blast simulator to test the integrity of buildings and better understand both how structures fail and how to protect them, so that architects can more aptly design new blast-resistant buildings and strengthen existing structures.
In addition, building engineers are working to fortify and bolster walls with polymer coatings. Polymer hardens into a protective, elastic layer that makes cement walls more flexible. In some cases, half a ton of TNT can't bring down a polymer-treated wall - a reason why the Pentagon is using it to coat its walls.
"Explorer" also examines the latest strategies in taking the fight to the terrorists, including new generations of weapons that can help the military monitor and capture terrorists. This new arsenal includes an aerial camera that can scope out a terrorist camp, seeing its exact layout in real time, and high-tech guns that can shoot around corners during combat.
Since 9/11 and other recent terrorist attacks around the world, inventors have raced to vastly improve our defenses against terror. With an unknown tomorrow, one thing is certain -- technology is an essential weapon in our war to outsmart terror.
"Explorer" is produced for the National Geographic Channel by National Geographic Television & Film. Executive producer is Kathleen Cromley. For "Outsmarting Terror," Liane Thompson is producer; Ariel Semmel, Tracy Baumgardner and Patrice Shannon are editors; Charles Poe and Michael Whinship are writers. For NGC, senior vice president of production is Michael Cascio; executive in charge of production is John Ford.
Based at the National Geographic Society headquarters in Washington, D.C., the National Geographic Channel (NGC) is a joint venture between National Geographic Television & Film (NGT&F) and Fox Cable Networks. Since launching in January 2001, NGC initially earned some of the fastest distribution growth in the history of cable and more recently the fastest ratings growth in television. The network celebrated its fifth anniversary January 2006 with the launch of NGC HD, which provides the spectacular imagery that National Geographic is known for in stunning high definition. NGC has carriage with all of the nation's major cable and satellite television providers, making it currently available to 59 million homes. For more information, please visit http://www.nationalgeographic.com/channel.
Dubi
TraceGuard Announces CarrySafe Explosive Trace Extraction System for Use in Airports, Subway Facilities
{Misleading, they plan to announce....}
Tuesday May 16, 5:47 pm ET
Fully Automated System Will Increase Accuracy Levels, Shorten Inspection Times of Carry-on Bag Security Screening
NEW YORK--(BUSINESS WIRE)--May 16, 2006--TraceGuard (OTC:TCGD - News), a developer of innovative security technologies and solutions, announced today that plans to release its CarrySafe explosive trace extraction system are at an advanced stage. CarrySafe is designed to fully automate the extraction of explosive traces during the security screening of carry-on luggage and other carried items in airports, subway stations and areas that face a high risk of terror attacks.
It is anticipated that the CarrySafe explosive trace extraction system will leverage proprietary technologies to deliver a more cost-effective solution than traditional manual screening processes, while shortening inspection times. CarrySafe would use high-powered air jets, suction vents, and a flexible adaptive enclosure to compress and decompress air surrounding carry-on luggage or packages. Traces and particles found on both interior and exterior surfaces would automatically be extracted and collected, and quickly passed on for analysis by standard chemical analyzers. CarrySafe should allow security personnel to detect traces of explosive material and contraband with a much higher level of accuracy.
The CarrySafe explosive trace extraction system should also help accelerate passenger flows through security screening and maintain the highest level of security. In addition, the automated extraction system should dramatically reduce errors associated with manual screening procedures, offering a security process that is far less intrusive than traditional screening methods.
"Providing greater protection to transportation hubs against terrorist threats has become critically important in the post-9/11 world," said TraceGuard Chairman and CEO Dr. Ehud Ganani. "Unfortunately, manual screening does not offer adequate levels of security to transportation staff or to the public. In 2003, the US House of Representatives Subcommittee on Aviation reported on operational testing conducted by both TSA's Office of Internal Affairs and Program Review and GAO's Office of Special Investigations. The report described performance levels by manual screening personnel as 'disappointing,' leaving US transportation infrastructure vulnerable to attack. Our plan is that CarrySafe will augment manual security screening processes with an automated system that dramatically increases detection accuracy levels. And because CarrySafe is designed for deployment alongside existing screening equipment, airport authorities should be able to maintain their current infrastructure investments."
TraceGuard is in dialogue with US and international transportation officials regarding the future deployment of the CarrySafe explosive trace extraction system in transportation facilities.
Additional information about TraceGuard, CarrySafe, or the company's other future solutions is available at www.traceguard.net.
http://biz.yahoo.com/bw/060516/20060516006415.html?.v=1
Dubi
General
Up until June 29, 2005 our business plan was to develop and market an Internet computer software program that was designed to automate the process of submission of Internet web page information in multiple languages to major Internet search engines. Currently, our business plan strategy is now focusing on developing technologies for homeland security applications. This new focus is based on an exclusive technology licensing agreement with Tracetrack Technologies Ltd., ("TraceTrack"), which was finalized in a licensing agreement between our wholly owned subsidiary, TraceGuard Technologies Ltd. (the "Subsidiary") and Tracetrack on February 15, 2006. Since inception, Tracetrack has focused on developing technologies for homeland security applications. Accordingly, since we intend to continue the business of TraceTrack, we consider TraceTrack to be a "predecessor entity" and have included the financial statement of TraceTrack as of February 15, 2006 in this Quaterly Report on Form 10-QSB. In addition discussions of TraceTrack's results of operations are included below.
Cash Requirements
Our plan of operations for 2006 requires financing of $3,500,000 to initiate the
development of our products, based on the licensed technology, through our
Subsidiary, registered in Israel, and for marketing efforts, as follows:
Estimated funding required during 2006:
Development and Engineering $ 2,200,000
Marketing and business development $ 300,000
General and Administrative $ 1,000,000
-----------
Total $ 3,500,000
-----------
As of March 31, 2006, we had a working capital and shareholders' equity of $1,385,142 and $1,746,192 respectively. Since April 1, 2006 we have raised additional sum of approximately $1,476,064 in private placements. We plan to raise additional cash of approximately $1,500,000 by June 30, 2006, primarily through private placements. We plan to raise additional funding through public offering of our securities by the end of 2006. This will allow us to continue with the development of our product, There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms.
The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders.
Product Research and Development
We anticipate that our Subsidiary, TraceGuard Technologies Ltd registered in Israel will continue recruiting several professional employees over the next few months as part of the establishment of an R&D center in Israel.
Lease agreements & investments
The Company and our wholly owned subsidiary, entered into agreements to lease office space in Arlington VA, Manhattan NY and Petach-Tikva (Israel). Total expected fees for the next 12 months are approximately $92,500.
For the three months period ended March 31, 2006 the Company its subsidiary have invested approximately $213,000 in leasehold improvements and furniture for its new facilities.
In addition, as of March 31, 2006 , a sum of approximately $40,000 has been invested in equipment, computer hardware and computer software for the Subsidiary's development group. Additional $450,000 are planned to be invested in 2006 for this purpose.
Employees
As of May 15, 2006 there are 18 employees, other than and its directors, being employed by our Subsidiary. We expect to further recruit number of part time and full time employees in the field of engineering, R&D, administrative and business development over the next 12-month period.
Recently Issued Accounting Standards
The Company does not expect that the adoption of recently issued accounting pronouncements will have a significant impact on our results of operations, financial position or cash flows.
ACCOUNTING POLICIES
The Securities and Exchange Commission ("SEC") defines "critical accounting policies" as those that require application of management's most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods.
Not all of the accounting policies require management to make difficult, subjective or complex judgments or estimates. However, the following policies could be deemed to be critical within the SEC definition. We have historically incurred losses, and through March 31, 2006 have incurred losses of $1,152,302.
On February 2, 2006, the Board of Directors of the Company approved a change in its fiscal year so it will end December 31, rather than end at March 31. As a result, the Company reported on the Form 10-KSB, the results of its activities for the transition period between April 1, 2005 and December 31, 2005.
Effective January 1, 2006 the Company adopted SFAS No. 123 (Revised 2004) "Share-Based Payment" ("SFAS No. 123R") using the Modified Prospective Approach. SFAS No. 123R revises SFAS No. 123, "Accounting for Stock-Based Compensation" ("SFAS No. 123) and requires the measurement and recognition of compensation of all share-based payments including grants of employee stock options, to be based on their estimated fair values at grant date, or the date of later modification, over the requisite service period. Under SFAS No. 123R, the Company required to select a valuation technique that meets the criteria as stated in the standard. Allowable valuation models includes a binomial model and the Black-Scholes model. At the present time the Company uses the Black-Scholes model.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates and assumptions relate to recording net revenue, collectibility of accounts receivable, and the realizability of other intangible assets, accruals, income taxes, inventory realization and other factors. Management has exercised reasonable judgment in deriving these estimates; however, actual results could differ from these estimates. Consequently, change in conditions could affect our estimates.
Fair Value of Financial Instruments
The Company considers all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents The financial instruments of the Company consist mainly of non-derivative current assets and current liabilities. In view of their nature, the fair value of financial instruments included in working capital of the Company is usually identical or close to their carrying value.
Results of Operations
Three months ended March 31, 2006 and 2005
Our Company recorded losses of $704,697 and $7,287 for the three months ended March 31, 2006 and 2005, respectively, and losses of $1,152,302 since March 20, 2002 (commencement of operations). The principal components of the losses were for R&D and general and administrative expenses.
TraceTrack recorded in 2006 over the period ended February 15, 2006 losses of $21,517 over, for the three months ended March 31, 2005 were $30,957 and total losses of $1,145,567 since inception.
The Company's operating expenses for the three months ended March 31, 2006 and March 31, 2005, respectively , were $706,563 and $7,287, respectively. The principal components of the losses were for R&D and general and administrative expenses, mainly consisting of payroll cost and consulting expenses.
TraceTrack's operating expenses in 2006, over the period ended February 15, 2006 were $21,652 and for the three months ended March 31, 2005 were $30,912. The principal components of the losses were for R&D and general and administrative expenses, mainly consisting of payroll cost and consulting expenses.
Liquidity and Capital Resources
At March 31, 2006, the Company had positive working capital of $ 1,385,142.
At March 31, 2006, the Company's total assets were $ 2,122,334 which consisted of cash, other receivables, restricted deposit, property and equipment And license rights.
At March 31, 2006, the Company's total liabilities were $ 376,142.
The Company has had no revenues since inception.
As of March 31, 2006, the Company had working capital of $1.4 million and $1.7 million in cash and cash equivalents. Net cash of $1.5 million was provided during the three months period ended March 31, 2006. Net cash of $474 thousand was used in operating activities during the three months period ended March 31, 2006. The net loss for the three months period ended March 31, 2006 was $705 thousand, and was primarily due to research and development activities of $163 thousand, general and administrative activities of $544 thousand, which were partially offset by financial incomes of $1.8 thousand. The Company's used cash of $189 thousand in investment activities during the three months period ended March 31, 2006 primarily due to investing in, property and equipment. Net cash of $1.5 million provided by financing activities was from receipt on account of shares to be allotted.
Based on the Company's expectations and contingency plans described above, all of the above are expected to provide more than sufficient liquidity for the foreseeable future and the next 12 months in particular. The Company cannot be certain that funding will be available on acceptable terms, or at all.
The Company has no long-term debt and does not regard long-term borrowing as a good, prospective source of financing.
http://biz.yahoo.com/e/060515/tcgd.ob10qsb.html
Dubi
Perhaps the biggest >>Caveat emptor!>> is the following;
TraceGuard's Chairman, Dr. Ehud Ganani, a former CEO of IMI (Israeli Military Industries) ...
From his previous position to the current OTC company, says
a lot about his proven (dis)abilities.
The story is interesting neverthless, for me anyways, the sole
reason for my following the company.
Dubi
>Dew, I suggested you come over to read the story, not to recommend buying the stock, for i do not.<
Understood. However, I thought the story was intriguing enough that I did some cursory DD, and I thought it was worth sharing my concerns with the board. Regards, Dew
Dew,
I suggested you come over to read the story,
not to recommend buying the stock, for i do not.
Dubi
Dubi et al: I see several red flags with this company:
1. The CSO/founder owns more than half of the equity. (See Form-13D filing from 7/12/05, which preceded the 1:6 reverse split on 9/12/05.)
2. They just completed a financing at an astonishingly low below-market price (including warrants too):
http://biz.yahoo.com/e/060510/tcgd.ob8-k.html
3. The new CEO has been just given almost 3M options with a below-market exercise price ($0.70). (See above link.)
4. During the past two years, the company has on several occasions failed to file its SEC reports on time.
TraceGuard seems to have a good story to tell, but I’d be concerned that a good story is all they have. Caveat emptor!
TraceGuard: Making the World Safer, One Bag at a Time
Wednesday April 26, 12:28 pm ET
Automated Trace Detection System Helps Transportation Security Personnel Screen Carry-On Luggage for Explosive Material, Contraband
NEW YORK--(BUSINESS WIRE)--April 26, 2006--TraceGuard, a publicly traded developer (OTC:TCGD - News) of innovative trace extraction and collection systems, announced today their Executive Management Team. TraceGuard plans to manufacture trace collection modules and solutions to transportation facilities such as airports and subways that augment existing security technology and methods through automated processes with a very high level of accuracy. The Company seeks to become a leading supplier of trace extraction and collection systems to a variety of different industries.
Corporate Executives
1 Dr. Ehud Ganani, Chairman and CEO, is a security technology
expert who was previously CEO of IMI (Israeli Military
Industries) and VP Marketing & Business Development at RAFAEL,
an Israeli military technology powerhouse. Dr. Ganani is also
Chairman of the Board of DefenSoft Ltd., a design security and
simulation software company (formerly 3DACT), a member of the
board of directors of Gilat Satellite Networks Inc.
(NASDAQ:GILTF - News) and a former visiting professor and research
fellow at the University of California at Davis.
2 Dr. Fredy Ornath, Chief Scientist, is the inventor of
TraceGuard's proprietary technology. He is an
internationally-acclaimed welding and materials engineer who
served as chief developer of an FAA-funded research project on
air cargo explosive detection. Dr Ornath holds several
patents, has written numerous articles appearing in leading
international scientific journals, and has addressed many
international conferences.
3 Gil Perlberg, Vice President Engineering and Product
Management, holds several patents in the field of
semiconductor processes. Perlberg was formerly VP Engineering
and R&D with Kulicke & Soffa Bonding Tools and formerly VP
Engineering and Technology with Shellcase, a global supplier
of innovative wafer-level packaging solutions.
4 David Ben-Yair, Chief Financial Officer, is a member of the
Israeli Institute of Certified Public Accountants. Ben-Yair
was formerly a senior accountant with Briteman-Almagor, the
Israeli branch of Deloitte & Touche, and has served as CFO and
financial comptroller of several NASDAQ and Israeli companies.
5 Advisory Board: Major General (Ret) Jacob Amidror (former
commander of IDF Military Colleges and former Military
Secretary to Israeli Minister of Defense); Uri Chen (former
head of Intelligence Directorate at Israel's Mossad security
agency and recognized national security expert); Arik Yekuel
(former head of Strategic Planning and Technology Department
with the equivalent rank of Major General); and others.
http://biz.yahoo.com/bw/060426/20060426005854.html?.v=1
Dubi
Trace Extraction and Collection Specialist TraceGuard Select S&S Public Relations, Inc.
Tuesday April 11, 11:43 am ET
Full-service public and media relations firm to help promote, publicize TraceGuard's portfolio of physical security technologies
NEW YORK--(BUSINESS WIRE)--April 11, 2006--TraceGuard (OTC: TCGD.OB - News), a provider of innovative physical security technologies, announced today that it has selected S&S Public Relations, a full-service public and media relations firm, to represent its business within the United States. As a strategic communications partner, S&S Public Relations is responsible for increasing both public and media awareness of TraceGuard and its transportation security solutions.
A publicly-traded company, TraceGuard specializes in developing and marketing innovative technologies and products to assist in explosive trace extraction and collection. Using proprietary technology, the company's flagship product, CarrySafe, is designed to quickly extract and collect particle residues from both external and internal luggage and package surfaces, allowing transportation security officials to accurately check suspicious carry-on cargo for traces of explosives or illegal contraband. The fully-automated process is intended to eliminate the need for the manual swiping of luggage and other containers, speeding security screening and alleviating the travel bottlenecks caused by manual luggage checks.
"S&S Public Relations is excited to work with TraceGuard and looks forward to moving the company's transportation security products and technology in the foreground of the public eye," said Steve Simon, CEO of S&S Public Relations. "The unique methods that TraceGuard uses to screen luggage and packages in airports and other mass transportation hubs are of tremendous importance to the security of travelers, particularly in the post-9/11 world."
"Our partnership with S&S Public Relations will help TraceGuard to capture the attention of both the US public as well as the decision makers for whom transportation security is an everyday concern," said Dr. Ehud Ganani Chairman & CEO of TraceGuard. "The firm's proven record of public relations success within the information technology and security industries will work to further increase the value of TraceGuard and its physical security solutions."
Additional information about TraceGuard and its products, or about S&S Public Relations, is available at www.traceguard.net and www.sspr.com, respectively.
http://biz.yahoo.com/bw/060411/20060411005715.html?.v=1
Dubi
Israeli technology IDs traces of explosives
By David Brinn April 02, 2006
"I'm what people might refer to as a 'rocket scientist'," Ehud Ganani says with a laugh.
His credentials certainly back up that statement. Ganani served as CEO of Israel Military Industries, makers of world class, combat-proven weapon systems. And before that, he had spent 27 years as an executive at military technology powerhouse RAFAEL, 16 of those years dealing with rocket motors and explosive charges.
"My PhD [at Washington University in St. Louis] was in the processing of propellants and explosives. I spent many years for RAFAEL in Washington doing business in defense and security-related fields," Ganani told ISRAEL21c.
With his impressive background, when Ganani says that the patent-pending automated explosive trace extraction technology of his company TraceGuard Technologies, Inc. (OTCBB:TCGD) is going to make air travel in the US and around the world safer and more convenient, then one tends to takes him seriously.
The result of seven years of research, TraceGuard's CarrySafe puts the company at the forefront of the battle to prevent explosives from being taken aboard planes.
"We provide a vital need in today's world - of identifying people and passengers who are trying to carry live explosives onto planes or into crowded areas. It's the right technology for the right time," said Ganani who decided to resign from IMI to "use my experience in the small business sector."
Targeted at the airport security requirements of the TSA (Transportation Security Administration) and other regulatory authorities, CarrySafe is designed for integration into existing screening equipment.
According to Ganani, CarrySafe automatically extracts and collects air particles from both the outer and the inner surfaces of luggage. The carry-on luggage in question is first placed in the inspection chamber. A flexible adaptive enclosure allows the rapid release and extraction of traces of explosives from external and internal surfaces of the bag. The collected trace material is fed to a chemical analyzer for further analysis. And the results of this fully-automated computer-controlled cycle are displayed on the operator's screen.
Bulk detection systems such as X-Ray and CT systems yield a high false alarm rate because they cannot distinguish between explosives and objects with a similar density to explosives. But according to Ganani, because TraceGuard's trace extraction technology is designed to make explosive detection more accurate, the false alarm rate should be significantly reduced.
"To the best of my knowledge, there's nothing else out there that deals with this issue like CarrySafe. There are a lot of sniffers and analyzers. And if you've been in an airport recently, you've probably seen security personnel swiping a cotton swab over a bag, and then analyzing it - using technology that is able to detect explosives. We're not doing that," said Ganani.
"We extract traces from inside and outside the bag - we're not competing against X-ray machines."
Because CarrySafe is designed as an addition to - and not a replacement - for the standard chemical analyzers already deployed, airport authorities should be able to maintain their existing investment in equipment.
The TraceGuard technology was developed principally by the company's chief scientist Dr. Fredy Ornath, an internationally acclaimed welding and materials engineer who served as chief developer of an FAA-funded research project on air cargo explosive detection.
By delivering greater accuracy and speed than screening solutions based on manual checking, CarrySafe is designed to dramatically shorten passenger lines. No longer will lines at the airport be held up by screening personnel having to open carry-on items that failed the initial x-ray detector. The item will simply be inserted into the CarrySafe device where the TraceGuard process will take over.
"We're doing it using a machine - it's faster than the three or four minute manual process and much more effective," said Ganani.
Unlike many startups, TraceGuard is not scrambling for funds, and is publicly traded on the New York Stock Exchange. Ganani said that the financial security has allowed the company, which has Israel headquarters in Petah Tikva, American corporate offices in New York City, and a Sales and Marketing office in, Arlington, VA, to concentrate on finalizing its product and getting certification.
"We expect to get certification by the Israel Security Authority by the end of the year, and we're in the process of teaming with strategic partners - mostly in the US. We're also in close contact with the TSA in the US," said Ganani.
TraceGuard was recently showcased at the ValueRich financial expo held in Miami, which offers small-cap companies the opportunity to present their products and services to a highly targeted audience. According to Ganani, there was "positive reception" to the unveiling of their technology, and the company are pursuing contacts with a dozen investment banks.
Future products which are on the TraceGuard drawing board include HoldSafe for checked-in luggage, and CargoSafe for palletized airborne cargo.
"Only about two percent of cargo on planes is checked at all," says Ganani. "So, we're developing CargoSafe to extract traces out of cargo, not just carry-on luggage."
The company intends to expand the applications of its extraction technology to include drugs and biological contamination.
But Ganani has his sights set on the ground for now, with the goal of launching CarrySafe in American airports next year.
"We believe that our innovative products can introduce an unprecedented level of automation to airport luggage screening. TraceGuard's ultimate goal is to become a major player in the Homeland Security market."
http://www.israel21c.org/bin/en.jsp?enZone=Technology&enDisplay=view&enPage=BlankPage&en...
Dubi
TraceGuard to Unveil Exclusive Airport Security Technology at ValueRich Small-Cap Financial Expo in Miami
Friday March 3, 1:30 pm ET
NEW YORK and TEL AVIV, Israel, March 3, 2006 (PRIMEZONE) -- Technology development company TraceGuard Technologies, Inc. (OTC BB:TCGD.OB - News) will unveil its exclusive explosive trace extraction technology at the ValueRich Small-Cap Financial Expo. This expo, being held in Miami on March 8-9, offers small-cap companies the opportunity to present their products and services to a highly targeted audience.
With offices in New York City and Washington DC, TraceGuard is conducting its development work in its R&D facility in Israel. The company is at the forefront of the battle to prevent explosives from being taken aboard aircraft, and is a leader in automated explosive trace extraction.
TraceGuard hopes to launch its first product, CarrySafe, by the end of the year. Targeted at the airport security requirements of the TSA (Transportation Security Administration) and other regulatory authorities, CarrySafe is designed for integration into existing screening equipment. CarrySafe should automatically extract and collect air particles from both the outer and the inner surfaces of luggage. Particles are then fed to the standard chemical analyzers already deployed by airport authorities to check for the presence of hidden explosives in carry-on luggage. By delivering greater accuracy and speed than screening solutions based on manual checking, CarrySafe is designed to dramatically shorten passenger lines.
Future products include HoldSafe for checked-in luggage, and CargoSafe for palletized airborne cargo. TraceGuard also plans to expand the applications of its trace extraction technology to include drugs and biological contamination.
TraceGuard's Chairman and CEO, Dr. Ehud Ganani, has assembled an experienced management team of engineers, scientists and business executives with proven credentials in anti-terrorism, security and technology. Dr. Ganani, a former head of Israeli Military Industries and former VP Marketing & Business Development with RAFAEL, Israel's military technology powerhouse, states that ``We are delighted to be exhibiting in this show, where we hope to engage in a fruitful dialogue with key capital market players. We believe that our innovative products can introduce an unprecedented level of automation to airport luggage screening. TraceGuard's ultimate goal is to become a major player in the Homeland Security market, and to this end we intend to explore strategic partnerships with manufacturers of synergetic equipment.''
http://biz.yahoo.com/pz/060303/95176.html
Dubi
TraceGuard Technologies Inc. Announces the Reaching of a Definitive License Agreement with TraceTrack Technology Ltd.
Thursday February 16, 9:00 am ET
NEW YORK and TEL AVIV, Israel, Feb. 16, 2006 (PRIMEZONE) -- TraceGuard Technologies Inc. (OTC BB:TCGD.OB - News) announced today that it has reached a definitive license agreement with TraceTrack Technology Ltd. for a technology related to automatic trace collection needed for advanced detection of explosive materials in luggage.
This technology, combined with other technologies which are being developed by TraceGuard Technologies Inc., and are in the process of being filed for patent protection, provide TraceGuard with a wide base for the development of a line of products for the homeland security market.
The continuing stream of terror attacks across the world since 9/11 has further heightened concern for security in transportation systems, places of entertainment, and any location where people gather. Security agencies have identified concealed explosive devices as posing a significant potential threat, where even a small amount of explosives can prove to be lethal.
Air transport security remains a top priority. The scale of the challenge is clear when one considers that over 1.6 billion pieces of luggage were screened in US airports alone during 2005. By 2010, this is expected to exceed 2 billion pieces.
At present, when an item of carry-on luggage is being flagged by X-Ray systems, a swab or a small hand-held vacuum device is used to manually collect traces of suspect substances. This procedure only samples the exterior surface of the bag. The swab is then manually run through a sophisticated trace chemical analyzer that checks for residue of explosives.
The first product anticipated to be launched by TraceGuard is CarrySafe, which is being developed to enhance and automate the collection of explosive trace particles from carry-on baggage. CarrySafe's uniqueness is in its ability to automatically collect the particles from outside and inside of luggage being screened for the possibility of containing explosives.
TraceGuard's Chairman, Dr. Ehud Ganani, a former CEO of IMI (Israeli Military Industries) and formerly VP Marketing & Business Development with Rafael, Israel's military technology powerhouse. According to Dr. Ganani, ``We believe that the introduction of TraceGuard's technology into the screening process at airports will enhance efforts to detect explosives. Our unique trace collection system will automate the detection process and deliver a much faster and more efficient level of screening.''
In addition, says Ganani, ``We hope to reduce actual search time, which means that travelers will have more time for shopping and dining prior to flight. Another advantage is that TraceGuard technology will be a natural add-on to existing X-Ray systems for baggage screening. Further, since our technology is less dependent on operator skill, experience, as well as motivation and alertness, further labor savings may be possible.''
During the past few months, TraceGuard and its Israeli R&D subsidiary have assembled an impressive team of engineers, scientists and business executives with proven credentials in security and technology. The team includes Chief Executive Officer Mr. Meir Zucker, a former fighter pilot with wide experience in heading technological start-ups; VP Engineering and Product Management, Mr. Gil Perlberg, who holds several patents in the field of semiconductor processes, and has broad experience in managing large R&D teams; Dr. Bob Roach, former university professor at Georgia Tech, who performed research on behalf of NASA, the U.S. Air Force and several major aerospace firms; and several additional scientists and staff members.
http://biz.yahoo.com/pz/060216/94357.html
Dubi
Followers
|
3
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
100
|
Created
|
03/06/06
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |