“Biometrics is one of the fastest-growing areas of homeland security,” Jim Cramer said on Friday’s “Mad Money” TV show. Cramer said that no area of securing the homeland is more exciting than biometric, the art of identifying a suspect from their fingerprints, faces and physical characteristics. With this in mind, Cramer gave out to speculative plays that could be huge winners off the biometrics field: Cogent Inc. (NASDAQ:COGT) and L-1 Identity Solutions Inc. (NYSE:ID). Cogent and L-1 are spec stocks, trading under $10, the former a pure play on finger print biometrics and the latter a hybrid of biometrics and other security technologies. Cramer said L-1 makes a biometrics recognition device that helps to identify the bad guys in Iraq and Afghanistan, plus other hot spot countries are testing the system. The company is also working on securing business for driver’s licenses in the state of New York as well as the Mexican national ID program. Its also partnering with Tata Motors Limited (TTM) in India on a biometrics program. Cogent on the other hand is a pure play on finger-print technology. The company won a contract to supply a fingerprint ID system to the state of Ohio and another for the US Census. Cogent also administers the U.S. Visitor’s Program, which helps get frequent fliers through customers in a timely manner, and identifies foreign visitors. “This company had a lot of room for growth as it competes for contracts from the U.S. Army, the U.K. Post Office and the Belgian Police,” Cramer said. Between the two, Cramer thinks Cogent is the safer bet, with $350 million in cash on the balance sheet, or about $5.86 of chase a share and no debt. L-1 has $16.9 million in cash and $463 million in debt, but both companies trade at around 18 times earning and have a 20% growth rate. Cramer pointed out that L-1 expects significant cash flow in the second half of 2009 and plans to accelerate its debt repayment next year. He told viewers that there could be some serious upside for both stocks, but there’s no hurry to buy either. Cramer said wait for a market pullback and do some homework before you buy. Get the scoop on tomorrow’s hottest trade ideas – TODAY! BeaconEquity.com PREMIER PICKS have an amazing track record. Join this select group and ride the profit wave!