Shares of IDO Security Inc. (OTC: IDOI), a designer, developer and marketer of the patented MagShoe™ shoe scanning device (SSD), are soaring in trading today.
At last check, IDOI shares were trading 12.20% higher at $0.690 on above average volume of 1.78 million. The stock has now gained more than 86.49% in the last three trading sessions.
IDOI shares are soaring after the company last Friday announced that it is demonstrating the MagShoe at an Illinois prison facility as a pilot program for Illinois officials to confirm the effectiveness of the device to combat the penetration of cellular phones, electronic devices and weapons that have been a known concern in correctional facilities across the U.S.
The pilot program is the result of joint marketing efforts of IDOI and its U.S. distributor, JEI Inc.
Michael Goldberg, President of IDO Security, said that IDOI looks forward to demonstrating the MagShoe’s innovative technology at the ACA Conference to many more officials from departments of correction across the country as it looks to expand its footprint here in the U.S.
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