<SEC-DOCUMENT>0001062993-19-002927.txt : 20190716
<SEC-HEADER>0001062993-19-002927.hdr.sgml : 20190716
<ACCEPTANCE-DATETIME>20190716162500
ACCESSION NUMBER:		0001062993-19-002927
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190709
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190716
DATE AS OF CHANGE:		20190716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Security Devices International Inc.
		CENTRAL INDEX KEY:			0001354866
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				711050654
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-132456
		FILM NUMBER:		19957411

	BUSINESS ADDRESS:	
		STREET 1:		107 AUDUBON ROAD
		STREET 2:		BLDG 2, SUITE 201
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
		BUSINESS PHONE:		978-868-5011

	MAIL ADDRESS:	
		STREET 1:		107 AUDUBON ROAD
		STREET 2:		BLDG 2, SUITE 201
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
   <TITLE>Security Devices International Inc. - Form 8-K - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY style="font-size:10pt;">
<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B><FONT size=5>UNITED STATES</FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>Washington, D.C.
20549</P>
<P align=center><B><FONT size=5>FORM 8-K</FONT></B></P>
<P align=center><B>CURRENT REPORT</B><BR><B>Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934</B><BR></P>
<P align=center>Date of Report (Date of earliest event reported) <B><U>July 9,
2019 </U></B></P>
<P align=center><B><U><FONT size=5>SECURITY DEVICES INTERNATIONAL
INC.</FONT></U></B><B> </B><BR>(Exact name of registrant as specified in its
charter)</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B><U>Delaware </U></B></TD>
    <TD align=center width="33%"><B><U>333-132456 </U></B></TD>
  <TD align=center width="33%"><B><U>71-1050654 </U></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction </TD>
    <TD align=center width="33%">(Commission </TD>
  <TD align=center width="33%">(IRS Employer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>of incorporation) </TD>
    <TD align=center width="33%">File Number) </TD>
  <TD align=center width="33%">Identification No.) </TD>
  </TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="50%" align=center><U><B>107 Audubon Road, Suite 201 Wakefield, MA </B></U></TD>
  <TD align=center width="50%"><U><B>01880 </B></U></TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=center>(Address of principal executive offices) </TD>
  <TD align=center width="50%">(Zip Code) </TD>
  </TR></TABLE>
<P align=center>Registrant&#146;s telephone number, including area code <B><U>(978)
665-2721 </U></B></P>
<P align=center>____________________________________________________<BR>(Former
name or former address, if changed since last report.)</P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (<U>see </U>General Instruction A.2. below):</P>
<P align=justify>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</P>
<P align=justify>[&nbsp;&nbsp; ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<P align=justify>Securities registered pursuant to Section 12(b) of the Act:</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-TOP: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=left>Title of each class <BR></TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=center width="25%">Trading <BR>Symbol(s) </TD>
    <TD
    style="BORDER-RIGHT: #000000 2px solid; BORDER-TOP: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=left width="50%">Name of each exchange on which registered
<BR></TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-TOP: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=left>Common Stock </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=center width="25%">SDEV </TD>
    <TD
    style="BORDER-RIGHT: #000000 2px solid; BORDER-TOP: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=left width="50%">The Canadian Stock Exchange (CSE)
</TD></TR></TABLE></DIV>
<P align=justify>Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of
this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b -2
of this chapter). </P>
<P align=right>Emerging growth company [&nbsp;&nbsp; ]</P>
<P align=justify>If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. [&nbsp;&nbsp; ]
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=justify><B>Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers. </B></P>
<P align=justify>Dean Thrasher has resigned from the board of directors
effective July 9, 2019. </P>
<P align=justify>William B. Richards has been elected to the Board of Directors
effective July 9, 2019. He is expected to serve as Chair of the
Nominating/Governance Committee and as a member of the Strategic Planning
committee.</P>
<P align=justify>Beatrice Mitchell has been elected to the Board of Directors
effective July 9, 2019. She is expected to serve as Chair of the Strategic
Planning Committee and as a member of the Compensation Committee.</P>
<P align=justify>Herbert Hughes has been elected to the Board of Directors
effective July 9, 2019. He is expected to serve as chairman of the Audit
Committee and as a member of the Compensation Committee.</P>
<P align=justify>Stan Baumgartner, who holds an MBA and is a CPA, has been hired
effective July 15, 2019. It is anticipated that he will transition to be the
Company&#146;s full time Chief Financial Officer, following the filing of the
Company&#146;s financial statements for the quarter ended May 31, 2019 and regulatory
filings related thereto.</P>
<P align=justify>All directors and officers will be compensated pursuant to
proposed plans to be approved by the Compensation Committee and the Board.</P>
<P align=justify>See additional information related to these events in the
attached Exhibit 99.1. </P>
<P align=justify><B>Item 8.01 Other Events. </B></P>
<P align=justify>The Company recently reviewed the effectiveness of certain of
its chemical irritant self-defense projectiles in response to a complaint from
one user that he had received an ineffective round. The Company found no problem
with the Byrna Black rounds; however, the testing process led to refinement of
the Byrna Black formulation, and these changes have increased the effectiveness
of the rounds. </P>
<P align=justify>See additional information related to these events in the
attached Exhibit 99.1.</P>
<P align=justify><B>Item 9.01
Financial Statements and Exhibits </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><U>Exhibit </U></TD>
    <TD align=left width="45%"><U>Description </U></TD>
    <TD align=left width="45%"><U>Method of Filing </U></TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee ><a href="exhibit99-1.htm">Exhibit 99.1 </a></TD>
    <TD align=left width="45%" bgColor=#eeeeee><a href="exhibit99-1.htm">Press Release dated July 15,
      2019 </a></TD>
    <TD align=left width="45%" bgColor=#eeeeee><a href="exhibit99-1.htm">Attached as Exhibit
    </a></TD>
  </TR></TABLE>
<P align=center><B>SIGNATURES</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly authorized. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="50%">Security Devices International Inc. </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="50%">(Registrant) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD align=center width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Date&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;
      7/15/2019&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U></TD>
    <TD align=center width="50%"></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="50%">/s/Bryan Ganz </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="50%">(Signature) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="50%">Name: Bryan
      Ganz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="50%">Title:&nbsp;&nbsp; Chief Executive Officer
  </TD></TR></TABLE>
<P>2</P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
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   <TITLE>Security Devices International Inc. - Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
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<BODY style="font-size:10pt;">
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<!--$$/page=--><A name=page_1></A>
<P align=center><IMG src="logos.jpg" border=0> </P>
<P align=center><B>SECURITY DEVICES INTERNATIONAL INC. EXPANDS BOARD AND
FINANCIAL CAPABILITIES</B></P>
<P align=center><I>Company Reports Positive Results of Testing on the
Effectiveness of its Chemical Irritant Rounds</I></P>
<P align=justify><B>WAKEFIELD, MA / July 15, 2019 / </B>Security Devices
International Inc. ("SDI" or the &#147;Company&#148;) (OTCQB: SDEV)(CSE: SDZ), a
non-lethal technology company that recently began U.S. deliveries of its
breakthrough non-lethal personal security device, the Byrna&#153; HD, announced the
expansion of its Board of Directors and an addition to its management team. Dean
Thrasher, who has been a director since 2013, has stepped down from the Board to
pursue other ventures. &#147;The Company is grateful for Dean&#146;s years of service&#148;
stated Bryan Ganz, the Company&#146;s CEO. &#147;We will miss him and wish him the best in
his new endeavors.&#148; Three new independent directors have been elected to the
Board: William B. Richards, Beatrice Mitchell, and Herbert Hughes. &#147;We are very
excited that our new independent directors have agreed to join the Board,&#148;
continued Ganz. &#147;The addition of Bill, Bea and Herb gives us depth and breadth
of experience as well as independent guidance. Their financial expertise and
business backgrounds will help guide and support our entry into the consumer
market and what we anticipate will be a period of great demand and rapid growth
for non-lethal weapons and munitions.&#148;</P>
<P align=justify>Bill Richards, the Managing Partner of WBR Advisors LLC is a
seasoned investment professional with over 40 years of experience in the global
financial industry. He serves as an Independent Board Director and/or Senior
Advisor to a range of organizations, both in the not-for-profit and for-profit
arenas. His Wall Street career began in 1973 at Donaldson, Lufkin and Jenrette.
He has a long-history of involvement within the hedge fund community, which
began in 1983 when he met Julian H. Robertson Jr. of Tiger Management. He has
lectured at the University of Virginia, Yale University, Harvard University and
I.E. University in Madrid, Spain. Bill serves on the Board of the Jamestown
Foundation, which is widely considered one of the best resources on Terrorism
and Russia. Bill was a U.S. Army Infantry Lieutenant in Vietnam and speaks
Vietnamese. He is Co- Chairman of the Governors&#146; Council of the Cerebral Palsy
Alliance Research Foundation in New York City and an " Honorary Angel " of 100
Women in Hedge Funds. Bill was a Trustee of the Episcopal Academy in Newtown
Square, Pennsylvania. </P>
<P align=justify>Beatrice Mitchell is a Co-Founder and Managing Director of
Sperry, Mitchell &amp; Company, one of the oldest and most active independent
M&amp;A advisory firms in the United States. She also co-owns Percival
Scientific, a leading Iowa-based manufacturer of biological incubators and plant
growth chambers. Bea is a graduate of Yale University and the Columbia Graduate
School of Business, and has been a regular lecturer at the Columbia Business
School, New York University and the University of Virginia. She has been widely
quoted in the financial and business press and is the co-author of The Complete
Guide to Selling or Merging Your Business. Beatrice was recognized in 2016, 2017
and 2019 as one of The Most Influential Women in Mid-Market M&amp;A by Mergers
&amp; Acquisitions. She is also on the Board of Managers at Haverford College
(Finance, External Affairs and Nom and Gov. Committees), and serves on the
Boards of the InterSchool Orchestras of New York (Executive and Finance
committees), The Institute for Career Development (Executive, Finance, Audit committees), Off The Record and The
Cosmopolitan Club, and has been involved with many capital campaigns.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_2></A>
<P align=justify>Herbert Hughes has over 30 years of experience in the financial
industry as well as advising and running companies in a diverse range of
businesses. Herb began his career as a trader at Kidder Peabody, then ran his
own hedge fund, and served as the head of derivatives and risk management for
the Bass brothers, among other positions. Currently he is the CFO of Wormhole
Labs, a tech company in the augmented reality, esports, and gaming industries
that combines elements of Augmented Reality, Global Commerce, Crowdsourcing,
Augmented Search, Live Interactive Streaming, Messaging, Location Based Services
and Integrated Social Networking with an integrated payment system. He is also a
Managing Director of HHM Capital which provides bespoke investment banking and
advisory services to ultra-high net worth individuals and families. Herb is a
graduate of Harvard College. &#147;I&#146;ve known Herb for over 30 years,&#148; noted Ganz.
He&#146;s the smartest guy I know, and I&#146;m thrilled that he&#146;s agreed to join the SDI
Board.&#148;</P>
<P align=justify>In addition to the new Board members, the Company announced
that it has hired Stan Baumgartner, an MBA and CPA with over 30 years of
experience in the finance and accounting departments of public and private
manufacturing companies at various stages of their growth curves. It is
anticipated that Stan will transition into the role of full time Chief Financial
Officer as soon as the financial statements and related regulatory filings for
the quarter ending May 31, 2019 have been completed and responsibilities can be
transferred. Stan most recently served as the Chief Financial Officer of SIG
Sauer, a preeminent defense and commercial markets enterprise which supplies the
US Army, the Navy SEALS, the Department of Homeland Security, and law
enforcement and military agencies, both domestically and internationally. Prior
to working at SIG Sauer, Stan served as CFO of the Pall Industrial Group and at
Henkel, a German based multinational chemicals producer, where he served in a
number of progressive roles including VP Finance Asia Pacific, stationed in Hong
Kong. Earlier in his career Stan served as a Captain in the US Army Corps of
Engineers, as an auditor with Deloitte &amp; Touche, and as a strategic
consultant with Booz Allen &amp; Hamilton. Stan&#146;s undergraduate degree is from
Georgia Tech and he received his MBA from Harvard Business School. </P>
<P align=justify>The Company also announced the results of recent tests on the
effectiveness of certain of its chemical irritant self-defense projectiles,
which testing was undertaken following a complaint from one user that he had
received an ineffective round. &#147;As soon as we heard there was a possible issue
we advised all customers not to rely on the rounds for self-defense pending
results of an inquiry and shipped free replacement rounds to all customers,&#148;
explained Ganz. While the Company found no problem with the Byrna Black rounds
originally provided, the testing process led to some refinement of the Byrna
Black formulation. These changes have made the rounds even more effective. &#147;They
are faster acting, longer lasting, and have an even greater deterrent effect,&#148;
Ganz elaborated. &#147;I personally witnessed some of the testing and I would not
want to be a would-be assailant hit with our rounds.&#148; The Company sells the
Byrna HD in the United States on its <U><FONT color=#0000ff>e-commerce site
</FONT></U>and in South Africa through Dave Sheer Guns. </P>
<P align=justify><U>About Security Devices International</U></P>
<P align=justify>Security Devices International, Inc. (CSE: SDZ) (OTCQB: SDEV)
is a technology company specializing in the areas of Personal Security Devices,
Military, Law Enforcement, Corrections, and Private Security. The Company
develops and manufactures innovative, less lethal equipment and munitions. For
more information on SDI, please visit the corporate website <U><FONT
color=#0000ff>here</FONT></U> or the company&#146;s investor relations site here.
</P>
<P align=justify><U>About the Byrna&#153; HD Personal Security Device</U></P>
<P align=justify>The Byrna&#153; HD is a disruptive new non-lethal device aimed at
the home defense and personal security markets. Its small size (similar to
popular lethal handguns on the market today), ease of obtaining, ease of carry,
effectiveness in deterring or stopping an intruder, and accessible price point
should be appealing to individuals who want protection, but either don't want
the hassle of obtaining a gun license or don't want the risk of having a hand gun in their home, as well as to gun
enthusiasts who appreciate a precision piece of equipment and want something in
their collection that is both effective and non-lethal. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify>The Byrna&#153; HD comes with multiple easily reloadable magazines
that can hold five .68 caliber highly effective payload rounds designed to burn
an assailant&#146;s eyes and respiratory system upon contact. The Byrna also comes
with inert and impact rounds that can be used for training. Accurate up to 60
feet, the Byrna&#153; HD is fitted with a picatinny rail that allows owners to mount
either a laser sight or flashlight making it easy for novices to fire it
accurately. The Byrna&#153; HD provides homeowners, women, retirees, and others whose
work or daily activities may put them at risk of being a victim with easy access
to an effective, non-lethal way to protect themselves and their loved ones from
threats to their person or property. It also is ideal for boaters, truckers, RV
owners, campers and gun enthusiasts around the world. For more information on
the Byrna HD please click <U><FONT color=#0000ff>here.</FONT></U> </P>
<P align=justify>The Byrna HD is not a &#147;firearm&#148; under federal law. State laws
and local ordinances may regulate its possession, use, and carry in certain
localities.</P>
<P align=justify><U>Forward Looking Statements</U></P>
<P align=justify>This news release includes certain &#147;forward looking statements&#148;
reflecting management&#146;s current expectations of future events including, without
limitation, management&#146;s expectations concerning the consumer market, demand
for, and growth of the non-lethal weapons and munitions industry, the
contributions of its new directors and officers, the appeal, market, ease of
obtaining, marketability, and effectiveness of the Byrna HD and the Byrna Black
projectiles, and the Company&#146;s upcoming financial filings and implementation of
the management and board changes. These statements involve risks and
uncertainties, and actual results may differ from current expectations. Risks
and uncertainties include without limitation: design flaws; implementation of
design changes, production problems or changes that cause manufacturing or
shipping delays, quality problems, cost overruns; the transition of production
to a new facility and training of new personnel, the testing process and reports
of testing on the Byrna Black rounds, other issues related to the formulation or
effectiveness of the Company&#146;s rounds, the Company&#146;s dependence in part or in
whole on the performance of third parties including those located outside the
United States in connection with sourcing of components, distribution and
resale, and logistic and assembly services; the dependency of the Company on
proprietary and other intellectual property, which may not be available to the
Company on commercially reasonable terms or at all; the impact of unfavorable
legal proceedings, including intellectual property disputes; the impact of state
and local laws and regulation or changes to laws and regulations including
licensing, registration, and certification laws related to sale, possession or
use of Byrna products or pepper-based defense products; the ability of the
Company to manage risks associated with its activities at a manageable cost,
including complying with applicable laws and regulations, and renewing and
maintaining adequate insurance; implementation of the company&#146;s new accounting
software, integration of new personnel, and competition from less expensive or
superior products that may be developed. Except as required by law, SDI
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in factors affecting
such forward-looking statements or otherwise. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Contact </B></TD></TR>
  <TR vAlign=top>
    <TD align=left>Bryan S. Ganz </TD></TR>
  <TR vAlign=top>
    <TD align=left>President and CEO </TD></TR>
  <TR vAlign=top>
    <TD align=left>781-420-1428 </TD></TR>
  <TR vAlign=top>
    <TD align=left><U><FONT color=#0000ff>bryan@byrna.com
</FONT></U> </TD></TR></TABLE><BR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
