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Thursday, September 13, 2012 12:18:23 PM
People may not get that excited at the press releases put out but it's because they don't see the bigger picture. One year ago they released the 2d Apple Certified scanner. 5 months ago they released the 1d version. Right now they have close to 100 companies with software that use these scanners and it just keeps building and building. What people don't realize fully is that these partners will do all the marketing and selling of their software (with the scanner added in) and we have zero expenses in that area. Socket just has to deliver the units. Not every partner is big but they add up. It's an incredibly profitable leveraged business plan. We just need to reach "critical mass" of partners and after that all revenue will just hit the bottom line big time. Tablets are becoming a HUGE growth area in businesses. Socket is not going after the customers----they are going after the developers! It makes it so a small company like Socket can compete with Motorola. You control the developers, you control the market.
On the Somo side, the new unit 655 model is where the scanners were partnership wise 6 months ago. We have established customers already but there are a slew of new partners demoing the units and planning on incorporating them into sales in the future. It should start playing out in the 4th Q. I do know the new SDK software package to help developers is coming out around the end of September. (ex. Good Sam Hospital wrote their own software for the hospital in conjunction with Ingram Micro. They later bought 3000 units from Socket). Plus, there are a multitude of former HP iPaq customers looking to run their software on the units too. This side of the business hasn't gotten a lot of good press in awhile but it is coming.
6 months from now people are going to shake their head at why they didn't buy when it was in the low $1s. I don't think you could get it there anymore even now. If you talk to the company they will readily admit that in 20 years they have never been more excited going forward than they are now! They let the stock drop from the Nasdaq to the OTC market because they spent too much in developing their newest products (and their biggest customers decided to hold off in purchasing the older ones as a result). It's better than them having diluted the shares 20% to a vulture fund just to keep shareholder equity up to stay on the Nasdaq (they will tell you they would never have done it at the current prices when they are so close to seeing the turnaround occur). They did do a small internal capital fund raising just to make sure they can go after large orders.
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