Liberty Defense (NASDAQ: DETX) appointed Steve Karoly to its Board of Directors, effective immediately, replacing outgoing CEO Bill Frain.
Frain is leaving the company at the end of October. Karoly is executive vice president of K2 Security Screening Group and has more than 30 years of government, transportation and technology industry experience. His previous roles include acting assistant administrator for Requirements and Capabilities Analysis at the Transportation Security Administration, where he oversaw a $1 billion budget, and senior positions at the Department of Homeland Security and U.S. Customs and Border Protection.
Liberty Defense Holdings (NASDAQ: DETX) announced that Bill Frain will resign as chief executive officer effective October 31, 2026.
Current Chief Operating Officer Keith Teichmann will assume the interim CEO role. Frain also stepped down from the board effective October 13, 2026, and will remain with the company through month-end to support the transition. Teichmann previously held chief technology and product leadership roles at EdgeEnergy and Delta Energy & Communications.
Liberty Defense Holdings (NASDAQ: DETX) appointed John R. Percival as Chairman of its Board of Directors, effective immediately. Jason Burinescu has left his Executive Chairman role to pursue other business opportunities full time.
Percival most recently served as President of SureScan EDS, an X-ray explosive detection systems manufacturer, from 2016 through January 2023. During his tenure, SureScan moved from a laboratory-stage organization into commercial production, with revenue rising from under $2 million in 2016 to $26 million and positive cash flow. His earlier roles included engineering and management positions at Brooks Automation, Analogic, Fluke Biomedical and Philips Medical Systems.
Liberty Defense (DETX) announced initial awards for four HEXWAVE units from a state court system and a state corrections department. Deployment is planned over the next few months. The court system will install HEXWAVE at an active courthouse in a first phase whose results could lead to consideration at additional facilities. The corrections award covers three facilities.
The selections follow a September 16 multi-site agreement with a third-party logistics, warehousing and manufacturing provider that marked Liberty’s entry into commercial loss prevention. HEXWAVE is deployed at approximately 20 sites in five countries, with more than 40 units in the field.
Liberty Defense (DETX) and Wadsworth Solutions announced the sale of two HEXWAVE systems for deployment at Cleveland Hopkins International Airport.
The systems will support the airport’s Aviation Worker Screening program at designated screening locations. Wadsworth is the prime contractor and will install the systems, train operators and provide ongoing support. Liberty expects the Cleveland deployment to bring HEXWAVE’s airport footprint to nine airports. Cleveland Hopkins serves approximately 10 million passengers annually. HEXWAVE uses millimeter wave technology and AI-powered detection to identify metallic and non-metallic threats.
Liberty Defense (DETX) signed a non-exclusive U.S. distribution agreement with VMI Security on September 24, 2026, for HEXWAVE. VMI will offer the walkthrough screening system in its security solutions portfolio. HEXWAVE uses active sensing and artificial intelligence to detect metallic and non-metallic weapons and explosives. Liberty expects VMI’s customer relationships and sales network to help introduce the system to new customers.
Separately, Liberty granted 43,888 restricted share units to certain directors and officers on September 24, 2026. Of those units, 23,888 vest on September 24, 2027, and 20,000 vest on September 24, 2028.
Liberty Defense (DETX) announced a multi-site agreement under which a third-party logistics, warehousing and manufacturing provider will deploy two HEXWAVE concealed-threat detection systems at a U.S. facility in 2026, with additional systems projected for a second facility in 2027.
The customer will acquire the systems through a financing option that allows deployment without an upfront capital request, and the units will be supported by a service and support agreement. HEXWAVE uses millimeter wave technology, 3D video-rate imaging and AI-based algorithms to detect metallic and non-metallic threats and contraband, while presenting only a generic body outline and not storing images or personal data.
Liberty Defense (DETX) will give its HEXWAVE I-Configuration concealed weapons detection system its first public showing at the GSX 2026 conference in Atlanta from September 14 to 16. The I-Configuration uses a single panel where an individual walks up, turns once in front of it, and then proceeds, enabling deployment in hallways, doorways, and other tight entrances where multi-panel lanes do not fit.
The company said this setup maintains HEXWAVE’s detection capabilities while giving security operators more flexibility for constrained facilities. HEXWAVE uses millimeter wave technology and 3D video-rate imaging, with AI-based automatic detection of metallic and non-metallic threats, and does not store images or personal information. Liberty Defense will demonstrate both the S-Configuration and the new I-Configuration at booth 4268, where visitors can review evaluation findings and schedule follow-up discussions.
Liberty Defense (NASDAQ: DETX; TSXV: SCAN) announced that President Bryan Cunningham left the company effective July 22, 2026 to return to his privacy and advocacy work. CEO Bill Frain thanked Cunningham for his contributions. Liberty does not plan to immediately fill the President position and states that its leadership team remains focused on executing strategic priorities and serving customers, partners, and employees. The company highlights its multi-technology concealed weapons detection solutions, including its HEXWAVE product licensed from MIT and recently licensed HD-AIT body and shoe scanner technologies.
Liberty Defense (NASDAQ: DETX, TSXV: SCAN) has closed a shares-for-debt transaction related to its U.S. IPO and Nasdaq listing. The company issued 23,306 common shares at a deemed price of $4.55 per share to settle CAD$117,000 of accounts payable owed to a service provider, extinguishing this indebtedness. The new shares are subject to a statutory hold period of four months plus one day under applicable securities laws.