Stock covered in Under the Radar Report, page-8

I believe what the Chairman was alluding to is "Explosive Residue" the type detected at Airports.

Either way, such detection requires dedicated sensors. Apparently the fasteners have a range of sensors - however, the question is: what creates value?

One past application was a locking of 'Coat Cabinet' in First class area of an Aircraft.

They (the fastners) created value by reducing the weight of existing solution. - a electro-magnetic lock, whose multiple windings of copper wire is heavier than the single loop of Shape Memory Alloy used in the ITF.