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Liberty Defense Holdings Ltd. (LDDFF) is a leading technology provider of AI-based next-generation detection solutions for safeguarding secure locations against prohibited weapons and threats. They have recently received additional funding from the Transportation Security Administration (TSA) to develop a High-Definition Advanced Imaging Technology (HD-AIT) upgrade kit for passenger screening systems, offering greater threat detection and a lower false alarm rate. The company is committed to enhancing aviation security through innovative solutions like HEXWAVE, a discrete, modular, and scalable detection system that provides layered protection against metallic and non-metallic threats.
Liberty Defense Holdings (TSXV: SCAN, OTCQB: LDDFF) has appointed Jason Burinescu as Executive Chairman of the Board, effective immediately. Burinescu, a Managing Partner at Vision Equity Partner Solutions, replaces Daryl Rebeck who is stepping down after four years in the role.
Burinescu brings significant experience from his time at Fletch Equity, where he helped complete over $1 billion in transactions, and as a senior operating executive at several companies including Vera, which was acquired by Help Systems. Liberty Defense specializes in AI-based detection solutions for concealed weapons and threats.
The company has invested over $40 million in R&D to develop threat detection technology licensed from MIT Lincoln Laboratories. Their systems are designed to detect threats that evade traditional metal detectors, including ghost guns and plastic explosives. Current clients include the TSA, MIT, Los Alamos National Labs, and major airports in the US and Canada.
Liberty Defense Holdings (OTCQB: LDDFF) has announced a strategic non-exclusive distribution agreement with Isotec Security Inc. for the US urban security market. Isotec, a Colorado-based company with 30 years of systems integration engineering experience, will sell and integrate Liberty's HEXWAVE walkthrough people screening system.
The HEXWAVE system uses AI and machine learning to detect weapons and threats in real-time, including non-metallic explosives and 3D-printed ghost guns. This technology will complement Isotec's existing integrated platform security services, enhancing their ability to address emerging security challenges.
David Barnes, Isotec's President and CEO, emphasized HEXWAVE's selection as a perfect complement to their security services. Bill Frain, Liberty Defense's CEO, highlighted the partnership's potential to expand market presence and advance next-generation detection capabilities.
Liberty Defense Holdings (OTCQB: LDDFF) announced that Palm Springs International Airport has selected its HEXWAVE system for employee screening to comply with the TSA mandate. The mandate, issued in April 2023, requires U.S. airports to implement physical screening for employees accessing secure areas by April 2026.
Palm Springs International Airport, which serves over 3.2 million passengers annually with 30 nonstop destinations on 13 airlines, will implement HEXWAVE through security provider Veterans High Risk Security Solutions. The system uses millimeter wave technology, 3D imaging, and AI to detect both metallic and non-metallic threats, including liquid explosives, 3D printed ghost guns, and other contraband that traditional metal detectors cannot identify.
The HEXWAVE system offers rapid, automated screening through a high-throughput, contactless walkthrough portal. Liberty Defense CEO Bill Frain noted growing interest in HEXWAVE among airports of all sizes for meeting the worker screening mandate requirements.
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.
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