Is this a joke detector?

[Chris2]

Hi Forum,

Recently I have seen at several places a funny looking antenna detector device (see picture)
with security guys in front of big bank buildings and also at 5 star hotels in the Philippines.
I asked the security guys what it is....Here the answer.... the security company claims that
with this "super detector" you can detect all kinds of explosives (dynamite, C4, TNT, black powder etc..).
The detector model name is "GT 100" and costs PHP1.500.000 (USD 35,000).
Inside the rectangular compartment is a kind of credit card size sample card of the explosives type that
the device can detect.
The security guys really believe that this detector works. At least the cards are label with what it "should" detect...

What kind of security joke device is it? Has anybody have seen a similar detector?