Princeton Security Technologies, Inc. (PSGY-OTC: BB)

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November 18, 2011 Issue

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Princeton Security Technologies, Inc. is Focused on Bringing to Market Radiation and X-Ray Detection Devices that are Smaller, Faster and More Functional Than what is Currently on the Market

Company Profile:

Princeton Security Technology (PST) is a publicly traded firm, specializing in Homeland Security industry field. PST’s growth strategy is available for investor review.

Princeton Security Technologies, Inc., through its subsidiary, Princeton Gamma-Tech Instruments, Inc., designs, develops, manufactures, and sells X-ray and Gamma-ray detectors and spectroscopy systems, portable radioisotope identifiers, and portable chemical analyzers worldwide. Its products include SAM Radioactive Isotope Identifier, a radiation detector for use in homeland security market applications, as well as for environmental, industrial, and medical purposes; and nuclear/gamma-ray detectors and spectrometers for the detection and analysis of radioactive samples in a laboratory environment used by federal and state governmental authorities, research laboratories, and large corporations. The company’s products also comprise X-ray detectors and spectrometers that address the research and industrial analysis need in the Microanalysis or XRF market. It also produces components used by other companies in larger detection units in multiple discipline areas. The company was founded in 2005 and is based in Princeton, New Jersey.

Juhani Taskinen, BSc, MBA
Chairman, President and CEO
Mr. Taskinen is the founder of Princeton Gamma-Tech Instruments, Inc., and Chief Executive Officer and Chairman of the Board of Princeton Security Technologies, Inc. Mr. Taskinen has a vast experience in technology M&A field and worked previously with Lehman Brothers (London) and Nokia Corporation.

Technology
Scientific & Technical Instruments
(PSGY-OTC: BB)

Princeton Security Technologies, Inc.
303C College Road East
Princeton, NJ 08540
Phone: 609-924-7310
 

Interview conducted by: Lynn Fosse, Senior Editor, CEOCFOinterviews.com, To be published – November 18, 2011

CEOCFO: Mr. Taskinen, would you tell us about Princeton Security Technologies?

Mr. Taskinen:  Princeton Security Technology in the homeland security industry. We design, manufacture, and sell analytical instrumentation for homeland security as well as the research industry. Basically, we have three different products. We have radiation detectors, which are hand-held units and are being used for identifying radioactive isotopes. For example, these types of units can be used if somebody wants to make a threat against the U.S. or some other nation. We have a way to identify dangerous nuclear and radioactive isotopes with that hand-held unit reliably and very quickly. The second product category is nuclear detectors and these nuclear detectors are systems including detector electronics and software, which are used by nuclear power plants. Recently, there was a problem in Japan at the Fukashima reactor. They have several types of nuclear detectors where they are trying to identify if there are leaks or if there is radiation in that area. The third product line is x-ray detectors and they are basically being used for research applications and x-ray detectors. We have a couple of different ones such as SDD (Silicon Drift) and SiLi (Silicon Lithium) detectors and they include a detector, electronics, as well as software. These are being used by the research entities as well as some industrial corporations that are doing a lot of research. These types of detectors can be used in the semiconductor industry as well as pharmaceutical industry, universities, and hospitals.

CEOCFO: What are you doing differently with your products?

Mr. Taskinen: Princeton Security Technologies owns 100% Princeton Gamma-Tech Instruments, Inc., called PGT, which has been there for thirty five to forty years and that is basically our only industrial entity. PGT and Princeton Security Technologies are both based in Princeton, New Jersey. Our expertise is that we have excellent product lines because we have been in business for forty years, and we are always investing money in R&D. We have very knowledgeable people. We are a small company, but we have been able to compete against big corporations like SAIC, Canberra (owned by Areva) and Thermo Fisher. If you take the radiation detection part of it, our strength is that we are able to identify radioactive or nuclear isotopes very reliably and fast. What that means is that we have a very smart software being used together with our products, so we are able with hardware and software to identify reliably these kind of threats and isotopes all over the world. That is really I would say one of our strengths; our core competence.

CEOCFO: Last week you shipped your first commercially available gamma neutron scintillator area monitor radiation detection solution; would you tell us more about that and what it does that is different from your other products?

Mr. Taskinen: There is a little problem in the world called helium three, because that is not available and the US government is controlling who is going to get and how much. That has been a problem the last couple of years. We are able to detect neutrons, meaning we are able to detect dangerous isotopes in our unit such as plutonium, quickly and reliably. We just cut around and developed a different way of how to detect those types of isotopes reliably without using the helium three; we are using lithium and some other technology.

CEOCFO: When organizations come to Princeton do they know what they are looking for or are they coming for help in determining a solution?

Mr. Taskinen: They don’t always know what they are looking for. They have a general idea of what they are looking for, but we most probably tailor a system or solution of what they will need. However, there are people that know exactly what they are looking for.

CEOCFO: How do you reach potential customers?

Mr. Taskinen: We have a big customer database. We have distributors and reps all over the world and then they will come to us and that is how we generate sales as well. We have been in business for a long time over thirty-five years, so word of mouth is where we are getting our referrals.

CEOCFO: Are there geographic areas where you would like to have a stronger presence?

Mr. Taskinen: Right now, we are trying to improve in Europe and we also are looking to expand in China and India. We are doing pretty good n the United States.

CEOCFO: What new challenges are you looking to make meet?

Mr. Taskinen: In every product category, we are looking to develop new products. For instance, in radiation detectors we are looking to create products that are smaller, less expensive, easier to use and basically providing the same service to the end user. Therefore, in radiation detection products, we are looking to make products that are customer-friendly and smaller than competitors’ products. In traditional nuclear detectors, we are looking to make a little bit more modern products where the cooling technology is state-of-the-art, meaning it will be easier to use for the end user as well. In x-ray, are looking to expand to the more high-end market segment where we really provide excellent solutions for the customers. They may be more tailor made, but at the end of the day not too many competitors are addressing those market segments.

CEOCFO: What is the financial picture like for Princeton Security Technologies today?

Mr. Taskinen: It is a lot better than it was two years ago. In 2010, we turned profitable. Our sales were about $2.6 million and then we were about $45,000 profitable. In 2011, we are estimating about $4 million in sales and approx. 10% net profit. The last five quarters have already been profitable as well as we have had a good growth. We are more focused than in the previous years and we look to stay in the more profitable product segments. We are looking to continue the same trend – growth and profitable. Therefore, it looks a lot better now than 2 years ago and at this point in time we will have no debt either.

CEOCFO: What do you see for Princeton Security Technologies in the next year?

Mr. Taskinen: We are looking to grow and stay profitable. We are looking to expand to the areas where there may be some synergy. However, we are looking to have internal profitable growth and that involves new products to be developed and brought into the market. I guess we cannot say how much we are going to be growing, but it will be significant.

CEOCFO: In closing, why should potential investors pay attention to Princeton Security Technologies today?

Mr. Taskinen: If you look at the financials, right now we have a low PE Ratio. We have no debt; we are growing and we are in the industry segment that is very interesting. If you consider the homeland security sector, we do not really need to substantiate the market existence because the governments are still generating a lot of inquiries in the homeland securities space. That is why the investors should be interested in our stock. We are a small company, but we are growing as well as considering paying dividends. If you look at the trends, you can see an upward moving trend for our company, which is a very good sign for an investor.

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We have no debt; we are growing and we are in the industry segment that is very interesting. If you consider the homeland security sector, we do not really need to substantiate the market existence because the governments are still generating a lot of inquiries in the homeland securities space. That is why the investors should be interested in our stock. We are a small company, but we are growing as well as considering paying dividends. If you look at the trends, you can see an upward moving trend for our company, which is a very good sign for an investor. - Juhani Taskinen