SCAN.V - Waiting for more proof.

Liberty Defence


Liberty Defense is bringing next generation, innovative security solutions to market to detect concealed threats in all verticals. Liberty Defense’s experienced management team is positioned to bring contactless security to public and private spaces to solve challenging problems of screening people for firearms, explosives and IEDs.

The challenge: efficiently securing high traffic areas with multiple entry points, such as hotels, schools, airports, public transit systems, places of religion, entertainment venues, and outdoor pedestrian locations in a secure, non-intrusive manner.

Our solution: Utilizing advanced imaging technologies along with automatic threat detection technology using AI and deep learning algorithms, Liberty Defense enables next generation of solutions to screen for concealed person-borne threats in real-time.

The Weapons Detection Systems market will grow from USD $5.3B in 2020 to USD $7.5B by 2025, at a Compound Annual Growth Rate (CAGR) of 8.2%. By 2020, USD $1.5B will be spent on urban security in North America. To date, Liberty Defense has signed on a number of high caliber partners to beta test HEXWAVE.”

Target markets:

Indoor: Schools, places of worship, shopping malls. Hospital and hotels.

Outdoors: Airports, sports venues, gov offices, subway, transportation, entertainment venues.

Current clients:

FC Bayern Munchen, Maryland stadium authority, Metro Toronto convention center, GTAA Airport authority, Utah office of the attorney general, Wisconsin university, Port Tampa Bay, Sleiman, Major Global Hindu organization

These contracts are all collaborative agreements meant to test the technology and are not re-occurring clients. Test is still in early stages.


a) HEXWAVE screens for all types of concealed weapons and other threats using 3D imaging and Artificial Intelligence for enhanced security to process people quickly and effectively, in all types of venues both indoor and outdoor.

b) AVIATION The millimeter wave-based, High-Definition Advanced Imaging Technology body scanner and shoe screener provide walk-through technologies for use at airport security checkpoints to enhance throughput and improve threat detection for fewer false alarms.


How it works.

A person walks through the scanner, it will:
- Emit low power signal to reflect off individual
- Capture the reflected signal
- 400,000 data points create an image
- AI will interpret the image and identify potential threats
- Take action = integrated smart functionality will allow it to take action as per clients wishes (i.e. make notifications, audible alarm, etc.)

Revenue streams:

Hardware sales 60%~ of revenue
Maintenance and updates – 35%
Implementation – 5%

Most recent private placement

Placment of 20,000,000 units at a price of 0.33
To me this means, I would not pay more than .33 for the stock at this time.

Key discriminators:

These include:
• Detects metal & non-metal threat objects
• Detects both indoor and outdoor locations including both overt and covert application
• Protects privacy (no personal data is collected or analyzed)
• ATD in real-time using rich 3D data and deep learning algorithms
Q3 - 2021 MD&A
(Expressed in U.S. dollars) Page| 4
• Smart functionality provides connectivity to existing security systems (VMS, door locks, networks)
• Routine software & AI updates
• Operationally agile (mobile and deployable across detection space)
• High throughput (over 1,000 screens per hour) with precise secondary screening

On a personal note, I recognize that the protection of privacy is pretty important in this context. Society is not willing to jeopardize more privacy, even seemingly at the price of personal safety, and if other competitors do not place an emphasis on this issue, it could be relevant.

Assets to liabilitys

The company has 25 % of liabilities compared to overall assets. The company is burning through money at this growth stage


These interim condensed consolidated financial statements have been prepared on a going concern basis, which assumes the Company will continue its operation for the foreseeable future and will be able to realize its assets and is charge its liabilities and commitments in the normal course of business. The Company incurred in a total loss during the nine months ended September 30, 2021, of $6,308,314. Furthermore, the Company has limited financial resources,
no source of operating cash flows, and there is no assurance that enough funding (including adequate financing) will be available to conduct further research and development. These factors indicate the existence of a material uncertainty that casts significant doubt upon the Company’s ability to continue as a going concern. As a result, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business.

Dilution of shares will keep going on (in my opinion)

I would not purchase prior to March 7th, and would be looking for more proof of profitability or re-occurring customers.

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