Suspect Detection Systems Inc. (SDSS) stock gains from new marketing alliance

Suspect Detection Systems Inc. (OTCBB: SDSS) shares raced ahead 40% to 9.8 cents Wednesday, a day after striking a new marketing deal with Virginia’s Gans and Pugh Associates. Volume for the stock lagged its daily average of 65,608 shares, at only 19,000.

In a news release dated Tuesday, July 12, stated that under the terms of the agreement, Gans and Pugh Associates will market Cogito Technology within the United States, targeting the federal homeland security market.

The release quoted Suspect Detection CEO Gill Boosidan as saying, “Since our successful pilots of Cogito at Knoxville, Tenn., airport in 2006 and the Bergen County Prison in New Jersey in 2010, Suspect Detection Systems has been working to penetrate the American homeland security market, Gans and Pugh is a longstanding, reputable company that can assist us to achieve our goal to implementing Cogito technology across the country.”

Cogito, a portable system for suspect investigation, uses a combination of audiovisual elements, customized interrogation methods, and a unique set of advanced algorithms to analyze outputs of a potential suspect’s parasympathetic nervous system.

Suspect Detection Systems Inc., which has headquarters in New York, through its Israeli subsidiary Suspect Detection Systems Ltd., is a developer of proprietary counter-terrorism and anti-crime technology.

Security Devices International (SDEV) shares skyrocket on news of contract

Security Devices International Inc. (SDI) (OTCBB:SDEV) better than doubled its price Thursday afternoon, after signing a Letter of Intent (LOI) with a distributor representing an unnamed nation for its less-than-lethal ammunition.

The Washington, D.C.-based SDEV gained 114.3 percent from Wednesday’s close to 30 cents, still well below its 52-week peak of 92 cents set last June. Volume on Thursday topped 95,000 shares.

The Company and its customer will test and assess the SDI’s ammunition in the near future. This Letter of Intent represents the Company’s first step in entering the less-than-lethal marketplace.

Security Devices President and CEO, Gregory Sullivan commented, “We have been working with this Country for some time and we are pleased to offer our products to them in helping fulfill their 40mm less-than-lethal military needs”

SDI is currently in the advanced stages of deploying their patent pending family of products, consisting of; the Blunt Impact Projectile 40mm (BIP40), and the Wireless Electric Projectile 40mm (WEP40). The Market sectors for these products include; the military, army, navy, air force, peacekeeping, homeland security, and law enforcement professionals.

Sullivan concluded, “If we are able to complete this order of rounds, it will increase our profile domestically as well as internationally in the defense technology sector”.

PharmAthene, Inc. (AMEX: PIP) surges on rating upgrade, impending trial

Biodefense firm PharmAthene, Inc. (AMEX: PIP) shares have surged nearly 32 percent from Friday’s closing price after it was announced last week that investment-research firm WBB Securities upgraded its stock rating for PharmAthene to Strong Buy.

The rating upgrade was granted after the NYSE Amex LLC (NYSE Amex) stated last week that the Company made a reasonable demonstration of its ability to regain compliance with the NYSE Amex listing requirements and granted PharmAthene an extension until January 26, 2012 to demonstrate its compliance.

Contributing to the surging share prices, the United States government announced plans last week to spend up to $2.8 billion to strengthen its defenses against biological warfare. Anticipating a lucrative government contract to supply smallpox antiviral drugs, biodefense drugmaker SIGA Technologies, Inc. (Nasdaq: SIGA), is currently being sued by PharmAthene for terminating a merger agreement in October 2006. The trial, expected to begin January 2011, has analysts predicting a favorable outcome for PharmAthene, which would likely mean the company would be awarded a percentage of SIGA’s government contract. Roth Capital Partners analyst Joseph Pantginis said the contract has positive implications to PharmAthene that can now identify the exact measure of potential damages.

TheStreet.com’s James Altucher recently wrote that on the basis of this contract alone, Pharmathene would potentially make up to a billion dollars in cash earnings. “On this one catalyst I think PIP is potentially a $7 – $12 stock,” he stated in an article on October 15, 2010.

Another positive for PharmAthene is Valortim, the Company’s developmental stage anthrax vaccine which PharmAthene is positioning as a potential alternative to the existing vaccine EBS, that is administered to military personnel and individuals who work in high-risk environments. Anthrax is considered the Department of Defense’s No. 1 biological threat.

The US is required to have a stockpile of 75 million doses of vaccine. Right now, the only approved supplier of doses of vaccine is EBS, which has a long-approved first-generation vaccine that requires 5 doses over 18 months and costs $120 per dose.

According to Chief Executive Office, Eric Richman, PharmAthene’s second-generation vaccine requires 3 doses over 60 days and costs about $45 a dose. Government funding commitments exceeding $27 million have been awarded to-date for the advanced development of Valortim.

TeamStaff, Inc. (TSTF) shares rebound slightly on news of executive leadership changes

TeamStaff, Inc. (Nasdaq: TSTF), reached 60 cents today after dipping to 54 cents at Friday’s close, after announcing this morning the appointment of Mr. John E. Kahn as Chief Financial Officer. TeamStaff, a leading logistics and healthcare services provider to the Federal Government and Department of Defense, conducted the executive search with the assistance of DHR International.

Bringing over 25 years of financial experience to the corporation, Mr. Kahn will be responsible for all elements of accounting and finance for the organization. Leading up to his appointment at TeamStaff, Mr. Kahn served as CFO of Financial Asset Management Systems, an American Capital backed government and business services group. Furthermore, Kahn has over a decade of experience as a CFO and extensive experience in publicly traded organizations. Mr. Kahn began his career with what is now BAE Systems, before joining a large public accounting firm.

Zach Parker, Chief Executive Officer of TeamStaff commented on Kahn’s appointment, stating, “We are delighted to welcome John to TeamStaff. With his appointment, we are in an even stronger position to deliver on our objective of becoming a nationally recognized leader with the Federal Government and DoD in the logistics and healthcare fields.”

Mr. Kahn holds leadership roles with several professional associations including Financial Executives International (FEI), the Association of Chartered Accountants in the United States (ACAUS) and the Association for Corporate Growth (ACG).

“John not only has a proven track record in corporate finance, growing businesses and managing complex capital structures, but he also has a depth of financial and operational experience in the government services and defense industries that will be invaluable in helping TeamStaff achieve its business objectives,” Parker concluded.

Homeland Security Capital Corp (HSCC) expands lucrative contract with east coast bank

Homeland Security Capital Corporation (OTCBB: HSCC) through its wholly-owned subsidiary, Nexus Technologies Group, has received more than $650,000 in purchase orders resulting from a lucrative contract with a large East coast bank. Nexus Technologies, a New York-based provider of integrated security solutions, has entered into a Master Purchase Agreement to install new and upgrade existing security solutions for the bank’s branches.

Nexus President, Robert Biscardi commented, “We are pleased that our existing customer relationships continue to provide new opportunities for Nexus. A key component of our business plan is maintaining and expanding these relationships.”

Traditionally, new bank branch security installations have always been a strong driver of revenue growth for Nexus. This new agreement is in addition to the ongoing service and maintenance work that Nexus provides to the bank’s existing branch network on a daily basis. The Master Purchase Agreement provides a framework of significant expansion for Nexus’ business relationship with the bank.

In addition to new branches under construction, this set of purchase orders will also include multiple branch security upgrades for existing branches of the bank. It is a significant indicator that re-affirms the bank’s relationship with Nexus, as it indicates that the bank is adopting a uniform security platform that Nexus has helped the bank to standardize.

Nexus’ Chief Executive Officer, Michael T. Brigante noted, “Our customer outreach effort has provided many interesting opportunities for Nexus. Using advanced technologies and processes; we are expanding our geographic footprint as well as booking projects in new segments of security design and installation.” Brigante continued, “as a result of the efforts by our entire team our FY 2010 backlog remains very strong.”

The Company anticipates finishing the branch security upgrades by second quarter of fiscal 2010.