Christopher Cox

NEW YORK, NY -- (Marketwire) -- 05/23/12 -- IDO Security Inc. (OTCBB: IDOI) developer of the innovative MagShoe" shoe scanning device (SSD), today announced that the Company has reported its 1st quarter financial results for the three months ended March 31, 2012. Revenues for the three months ended March 31, 2012 were $204,564 compared to $19,161 for the corresponding period in 2011. Revenues for the 1st quarter also exceeded total revenues for fiscal 2011 of $202,787. The increase in revenues is primarily attributable to the substantial increase in the number of MagShoe devices delivered to customers in Africa, Europe and the Far East. Net income for the three months ended March 31, 2012 was $1,536,601 compared to a net loss of $2,171,898 for the corresponding period in 2011. Net income for the three months ended March 31, 2012 included a one-time gain attributable to the extinguishment of debt in the amount ...