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It's an interesting idea, and it would certainly beat not having a gun at all. However, it seems to me that most self defense situations happen very quickly. I carry with a round in the chamber because I'm afraid I would not have time to rack the slide. I'm certainly not going to put myself in the position of having to get that thing out of my pocket, pull the mag out, insert the mag, and rack the slide before being able to use my weapon. If I need deep concealment, I would far rather carry my LCP and a spare mag. I can deploy it quicker, have almost as many rounds, and be far more concealed. That thing may be just a bit bigger than that cell phone from that angle, but it's way thicker. As others have said, this is a solution to a nonexistent problem.