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Liberty Defense Holdings (OTCQB: LDDFF) has received formal waiver authorization approval from the Federal Communications Commission (FCC) for its High-Definition Advanced Imaging Technology (HD-AIT) upgrade kit. This milestone advances the commercialization of their ultra-wideband high definition imaging technology for airport security screening.
The company previously received continued funding from the Transportation Security Administration to complete development and eventual rollout of the technology. The HD-AIT body scanner and shoe screener technologies, licensed by Liberty in March 2021, were originally developed by Pacific Northwest National Laboratory researchers with funding from the U.S. Department of Homeland Security Science and Technology Directorate.
The FCC approval is significant as Radio Frequency devices must be authorized before marketing in the United States, ensuring they operate without harmful interference and comply with Commission rules.
Liberty Defense Holdings (TSXV: SCAN, OTCQB: LDDFF) has successfully completed the acceleration of warrant expiry, resulting in the exercise of 5,414,275 warrants at $0.55 per share, generating gross proceeds of $2.97 million. This follows their recent private placement that raised $8 million on December 18th, 2024.
The transaction resulted in the issuance of 5,414,275 common shares, while 7,085,725 unexercised warrants were cancelled. The total outstanding shares post-exercise is now 48,759,122. The newly issued common shares are subject to a hold period until April 19, 2025.
CEO Bill Frain highlighted that the strong participation from both new and existing shareholders strengthens the company's ability to meet current market demand and execute its long-term strategy. The additional funds will be used to advance their pipeline, drive efficiencies, and improve performance metrics across their technologies.
Liberty Defense Holdings (TSXV: SCAN, OTCQB: LDDFF) has appointed Bryan Cunningham as its new President, effective January 13, 2025. Cunningham brings extensive experience as a lawyer, senior security expert, and former CIA intelligence officer. He currently serves as senior counsel and adviser to Palantir Technologies, where he is Executive Director of their outside advisory board on privacy and civil liberties.
Cunningham's background includes serving as Deputy Legal Adviser to National Security Advisor Condoleezza Rice, working with the US 9/11 Commission, and being a senior advisor to the Chertoff Group. He was awarded the National Intelligence Medal of Achievement and has been involved in aviation security since post-9/11, contributing to the Homeland Security Act.
The company emphasizes that their AI & HEXWAVE technology platforms enable walk-through scanning to detect various threats, including metal, non-metal, ghost guns, chemicals, and electronics in real-time, while maintaining privacy standards.
Liberty Defense Holdings (TSXV: SCAN, OTCQB: LDDFF) announced its HEXWAVE system has been selected for a critical trial in a Middle Eastern US ally country. The evaluation is co-sponsored by IWTSD (Irregular Warfare Technical Support Directorate) to assess capabilities for explosive threat detection, including metallic and non-metallic materials.
The HEXWAVE system, representing a $50 million technology investment, uses millimeter wave, advanced 3D imaging, and AI to detect concealed threats through a walkthrough portal. Potential deployment areas include border security, checkpoints, critical facilities, transportation, and military applications.
Additionally, the company granted 1,400,000 stock options to directors and officers, exercisable at $0.80 per share until December 30, 2029, with varying vesting schedules in 2025 and 2026.
Liberty Defense Holdings Ltd. (OTCQB: LDDFF) announced a licensing agreement with Battelle Memorial Institute to develop advanced checkpoint screening solutions. This partnership includes millimeter wave-based technologies such as the High Definition Advanced Imaging Technology (HD-AIT) body scanner, enhancing airport security. Funded by the Department of Homeland Security, HD-AIT aims to improve threat detection efficiency. The collaboration reinforces Liberty's strategy to innovate security technologies tailored for high-traffic environments, positioning the company favorably in the aviation security market.
Liberty Defense Technologies has secured a $1 million grant from the Israel-US Binational Industrial Research and Development (BIRD) Foundation, aimed at developing advanced concealed weapon detection technologies with its Israeli partner Levitection. The funding will support their collaborative project focused on multi-sensor, contactless public safety solutions. This initiative aligns with the rising threats of terrorism, and both companies will share the grant evenly.
Liberty aims to enhance security measures in high-traffic areas through innovative technologies, including its HEXWAVE product that utilizes active 3D radar imaging.
