Suspect Detection Systems Inc. (OTCBB: SDSS) signed a share purchase agreement to acquire 27.2% stake in Suspect Detection Systems Ltd. from Shabtai Shoval for $1.2 million on June 27, 2011. As per the terms of the deal, Suspect Detection Systems will pay Shoval $1.17 million which shall be paid in 35 installments. Shares of Suspect Detection Systems Ltd. shall only be transferred to Suspect Detection Systems upon payment of 50% of the purchase price plus any and all accrued and outstanding interest as of the date of payment and/or passing of 5 years from the date of closing provided that prior to such time, payment of no less than $0.23 million on the account of the purchase price shall have been made to Shoval, plus any and all accrued and outstanding interest. The transaction is subject to approval by Israeli Office of the Chief Scientist and Israeli Tax Authority. Ari Fried of Gornitzky & Co., Advocates and Notaries acted as legal advisor for Shabtai Shoval. Suspect Detection Systems Inc. (OTCBB: SDSS) cancelled the acquisition of 27.2% stake in Suspect Detection Systems Ltd. from Shabtai Shoval in July 2012.