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Liberty Defense Holdings, Ltd. is an emerging leader in AI-based contactless security technology for detecting concealed metallic and non-metallic weapons and threats, offering two products: the flagship HEXWAVE™ walkthrough portal using millimeter wave, 3D imaging, and AI for urban security and aviation employee screening, and the HD-AIT Upgrade Kit for upgrading existing airport body scanners under TSA contracts. Incorporated in Canada in 2012 and headquartered in Wilmington, Massachusetts, the company generated HEXWAVE™ revenue of US$0.91 million for the nine months ended September 30, 2025 (US$1.01 million for year ended December 31, 2024) and total revenue of US$1.76 million, with gross losses and net losses of US$10.51 million amid ongoing commercialization. As an emerging growth company with less than US$1.235 billion in revenue, Liberty is filing an F-1/A to list Common Shares on Nasdaq under 'DETX' via an IPO of [redacted] shares at [redacted] per share, with net proceeds estimated at US$[redacted] million for working capital, HD-AIT commercialization, HEXWAVE™ sales development, and engineering improvements. The investment thesis centers on capturing a US$10 billion urban security market opportunity with HEXWAVE™ and US$100 million TSA upgrade potential, despite early-stage risks, going concern doubts, and material weaknesses in internal controls.
Offering Amount
$8.0M
Shares Offered
89,293,651
Issuer Type
Share Type
Common Shares
Exchange
Nasdaq
Ticker
DETX
Use of Proceeds: working capital and other general corporate purposes, including commercialization of HD-AIT Upgrade Kit, business development for HEXWAVE™, recurring engineering and cost reduction for next generation HEXWAVE™
Emerging leader in AI-based contactless security technology for detecting concealed metallic and non-metallic weapons and threats, offering HEXWAVE™ system and HD-AIT Upgrade Kit.