From the OTCJournal 4Jan08 newsletter:
"The device can check your carry on bag for explosives in about 30 seconds vs the current very lengthy and inexact "swabbing" being used at airport checkpoints today. There are a number of other devices under development by the scientists at TCGD, including a cargo version of this machine.
They have an LOI for a development and marketing agreement with British based Smiths Detection, the second largest security device manufacturer in the world (second to GE, who bought their way into the business).
Today, the company announced a change at the top, specifically designed to move them from a technology development story to a sales oriented and commercially viable entity- the exact move this company needed to make to get investors to take notice.
Retired Major General Avi Kostelitz of the Israeli Military, formerly a consultant to the company, has taken the reins as CEO. Kostelitz has an impressive resume in airport and border security, having been the CEO of the Israeli Airport Authority. The Major General was responsible for all the airport and border security for Israel. In my view, that would make him one of the foremost experts on terrorism and security in the entire world, and probably one of the best connected guys in the field. After all, who knows more about security than the Israelis?
In case you are wondering, here's what's happening at TCGD. In short, the scientist who was previously CEO and is now the Chairman of the Board, has been replaced with an well connected expert in the field who can get the product sold and into airports. Scientist out, business man and field expert in. A welcome move in my view."
"Sometimes, business decisions must be based not on economics,
but on what is right." ~ Ivan Howes
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