Sequiam Biometrics (fka SQUM)

[WayneC777]

No! WAY lolo ... I was looking and that was it. I am learning about flipping and what to do when holding.

I live behind Benny Henn's old church on Forest City Road. Maitland Blvd. and Forest City Road.

[knowlesmsncom]

Quoted by some as the stock of 2008!!!!!!

Burned to the ground on On April 17, 2008, when the Court entered an order granting relief from the automatic stay to the Company’s secured lender, Biometric Investors, LLC. (“BIL”). The order further allows BIL to exercise all available in rem possession against its collateral and foreclosure against all stock pledged and all Trademarks and Patents owned by the Company.

http://www.secinfo.com/d1298p.t1.htm#1stPage

"Its rival bioMETRX Inc. argued, however, that Sequiam has burned through too much money without producing enough results. "The reality is Biometrics Investors has loaned Sequiam all that money, but Sequiam has no real means to pay them back," said Lorraine Yarde, chief operating officer of bioMETRX, which is based in Long Island, New York."

http://hsdailywire.com/single.php?id=5818

All assets of Sequiam are now transferred to its rival bioMETRX Inc.

Sequiam is now the toilet stock of 2008.........

[swaguy]

I hope you did not get involved with SQUM. Where in Orlando do you live?

[WayneC777]

A LOP is the same as a R/S except that in money they have to reprint the currency. The Lop also causes problems for the country as a R/S causes problems for the Company.

Be very careful who you listen to on that other board. Although I agree with, Rasica, tmcc, there is a number of guys on that board that have a hidden adjenda's.

swag - meet me here and I will explain
http://investorshub.advfn.com/boards/board.aspx?board_id=12982

BAD =
Aerospace

Buy the way, I live in Orlando also. I was looking into your Stock but found your post.

[WayneC777]

swag - mete me here and I will explain
http://investorshub.advfn.com/boards/board.aspx?board_id=12982

[protouch]

Federman & Sherwood
Sara Collier, Esq.
10205 N. Pennsylvania Avenue
Oklahoma City, Oklahoma 73120

[knowlesmsncom]

Anyone know of any.......

Investor lawsuits that are filed against this scam? I can provide some of the documents the company produced and posted on there web site that projected $10 million dollars in sales revenue. That was a pretty over the top projection, ya think? How many shares of SQUM.OB did that little tid bit of false and misleading information sell?

BTW - Someone is getting paid on that Black & Decker Royalties asset on the SmartScan, correct? Ever think that this is an Investor Asset that was either sold or slid into someones back pocket for protection? If done for protection, it would have been done under false pretenses and could be sought after when filing for relief because this asset belongs to shareholders and the sale was never made available to shareholders, outright fraud.

[knowlesmsncom]

It's not in my store either......

Just on the internet

Like I was saying all along, for me, this lock was a piece of junk! The competitors lock that is on my front door looked better and is still working and outperforms the Kwickset lock listed here. The Kwickset lock is on my back door, good thing because it is never used.

Overall Rating: 1 out of 5 1 out of 5
Never go for this one., October 3, 2008
By CustomerNJ from NJ (read all my reviews) (read all my reviews)

"I bought this set from HomeDepot and it stopped scanning in less than 2 months. Called Kwikset and they were quick and efficient to sent a replacement. Howerver, the replacement was dead within a month. I am glad that both sets were failed within the 180 days of its purchase and I have happily returned it to Home Depot. Home Depot and Kwikset customer service is outstanding, however this product is a mistake of Kwikset. I am glad that Home Depot has recently removed its entire stock from its shelves - atleast in my area store. Stay away from this product.!!!"

http://www.homedepot.com/webapp/wcs/stores/servlet/ProductDisplay?storeId=10051&langId=-1&catalogId=10053&productId=100588401&N=10000003+90401+1107

[knowlesmsncom]

Sequiam files for Chapter 11

http://hsdailywire.com/single.php?id=5818

Published 25 March 2008

Orlando biometrics company claims its lead investor reneged on as much as $3 million of the firm's $11 million loan commitment; late last week this investor announced plans to become the lead financier for Sequiam's rival

You win some, you lose some. Five years and more than $30 million after its inception, electronics maker Sequiam Corp. has declared bankruptcy and is mobilizing to fend off an attempted takeover, a lawyer for the company said yesterday. The Orlando-based maker of biometric fingerprint identification devices cited accumulated losses of more than $30.5 million, existing debt of more than $10.5 million, and assets of $2.57 million, in its filing for Chapter 11 reorganization last week. The Orlando Sentinnel Richard Burnett writes that Sequiam blamed its ills largely on its lead financier -- New York-based Biometric Investors LLC -- which Sequiam accused of defaulting on promised financing. Overall, the New York firm has reneged on as much as $3 million of the firm's $11 million loan commitment, said Scott Shuker, an Orlando lawyer for the local company. "We had started negotiations with them toward what we thought would be a resolution," he said. "Instead, the next thing we received from them was a proposal that would essentially sell Sequiam's assets to our competitor, which we consider unacceptable." Sequiam expects to file suit against its lender within a week, according to Shuker. In its bankruptcy filing, Sequiam said Biometric Investors "has engaged in a series of tortious acts designed to transfer Sequiam's assets to its competitor."

Late last week Biometric Investors announced plans to become the lead financier for Sequiam's rival -- a New York company called bioMETRX Inc. The move would involve the takeover of Sequiam, according to Biometric Investors, which cited its $8.5 million secured investment in Sequiam's assets.

"We believe that these assets combined with the resources of bioMETRX will have significant contributing value," said Robert Hoyt, managing partner of Crestview Capital, majority owner of Biometric Investors, in a statement. "Crestview has agreed to take the lead in bioMETRX's next round of funding between $11 million and $15 million."

Both bioMETRX and Sequiam claim to be on the verge of major sales breakthroughs in the sale of biometric products for consumer products such as residential security and computer electronics. Despite deals with some big-name companies in recent years (Black & Decker and Fujitsu, among others), Sequiam recorded sales of only $3 million in 2007, company officials said. Its key products are fingerprint ID security-access devices for door locks, personal computers, Web applications and other electronics. "Like a lot of technology-intensive companies, Sequiam has incurred some big startup costs," Shuker acknowledged. "But it was really only toward the middle of 2007 that their products became widely available. We believe we have cleared that hurdle now and are ready to go into the next phase." The company projects sales of $6.5 million in 2008 and $30 million in 2009, according to Shuker.

Its rival bioMETRX Inc. argued, however, that Sequiam has burned through too much money without producing enough results. "The reality is Biometrics Investors has loaned Sequiam all that money, but Sequiam has no real means to pay them back," said Lorraine Yarde, chief operating officer of bioMETRX, which is based in Long Island, New York. "We have worked with all of them to find a way to amicably solve this problem. We do see the benefit of consolidating with Sequiam's people and that's why we've established a relationship with Biometrics and Crestview."

[purrfectcalm06]

More than a few pumped it and did not bother to post information on the board when they learned of the BK. Depend on no one but yourself for your investment decisions.

[hbbus700]

Thanks, was just curious thats all. It was pumped by a few around here before it went belly up.
Thanks again

[purrfectcalm06]

No clue. I am not sure who owns the shell. If you still own shares you can call your brokerage and inquire about the status.

[hbbus700]

Thanks, any idea why a new symbol? Since it is a bankrupt company, any idea when all the shares will be cancelled?

[purrfectcalm06]

The new symbol is sgcmf, but there is no more information available.

[hbbus700]

Is SQUM even trading anymore? Ticker is not coming up at all. Did it go to a lower board then the pinks?

[knowlesmsncom]

Stock of 2008......

Or not......... Dang looks like a Colorado ski slope, tellulied......

Who slipped out with that "huge" Black & Decker royalty payment? I guess shareholder now own a worthless shell in a fulling reporting, oops scratch that, a bankrupt company.

At least shareholders can say the transfer Agent was never gagged!

Now I own a door lock that is a peice of junk with no possibility of warranty return.......







Pete Harding Winner Race # 1 ASA AERO Exhaust Northwest Tour
Pictured with his 200 MPH car in the most recent picture, along with AERO decal. WOW you can see the decal real good too......

[gabeh]

SQUM assets transferred to Biometrics for no additional payment.

bioMETRX, Inc. Acquires Assets of Sequiam Biometrics (Pty) Ltd.

Introduces new corporate product offerings and international distribution of smartTOUCH(TM) consumer products into South Africa and neighboring markets.

JERICHO, N.Y., Aug 18, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
bioMETRX Inc., (OTC Bulletin Board: BMRX), today announced that the assets of the former wholly owned subsidiary of Sequiam Corporation have been transferred to bioMETRX, S.A. at the request of their secured creditor, Biometric Investors LLC (BIL). bioMETRX paid no additional consideration to BIL for these assets.

Sequiam Biometrics (Pty) Ltd., now bioMETRX, S.A., is a leading provider of world class biometric software and hardware products, offering Time and Attendance and Access Control solutions to major Government and Commercial organizations. Key customers currently utilizing the company's products include the Bank of Uganda, Stellenbosch University, South African Revenue and Parliament, Shell Oil Company, Ford Motor Company, and General Motors.

bioMETRX S.A.'s flagship technology offerings include BioTime, an easy-to-use computerized access control, attendance and recording tool; and BioTools which simplifies the process of adding failsafe biometric security to any computer program -- in minutes instead of weeks. The assets have produced in excess of $1,300,000USD in revenue, 2007. The company expects that such revenues will triple through 2009.

"The company has spent several years developing this comprehensive technology suite and we are busy designing a plan with their management to increase sales in existing markets, as well as offering these solutions here in the US", stated Lorraine Yarde, COO at bioMETRX. "While consumer biometrics is starting to take hold, commercial biometric applications have been around for numerous years and enjoys high adaptation rates among corporations", commented Ms. Yarde.

"We are presently re-branding the bioMETRX S.A. products and will be launching a new smartTOUCH branded "EnterpriseID(TM)" product line into South Africa in the near future. We are also in discussions with potential strategic partners with existing presence and widespread distribution in South Africa, to further expand our distribution and support capabilities", added Ms. Yarde. To learn more about bioMETRX S.A.'s products, please visit www.biometrics.co.za.

"We are excited to work with bioMETRX and their seasoned management team", commented Shane Griffin, Managing Director of bioMETRX S.A. "bioMETRX brings a great deal of industry knowledge and experience to our group. South Africa is a growing market with a huge demand for cost efficient, convenient security devices. We are also very excited to include smartTOUCH consumer biometric products into our portfolio of offerings to address increased market needs here in this area of the world".

As the global leader in consumer biometric product engineering, development and sales, bioMETRX's technology has proven to be the most dependable and robust consumer biometric platform available today. Its smartTOUCH product line is just starting to make its way into the marketplace, and the company has several new and exciting products that are expected to hit the shelves later this year.

About bioMETRX, Inc.

bioMETRX, Inc. designs, develops and markets biometrics-based products to the consumer market under the common brand name -- smartTOUCH.

For more information on bioMETRX and/or the company's smartTOUCH line of products, visit the Company website at http://www.biometrx.net.

Safe Harbor Statement: This release may contain certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release with respect to bioMETRX's business, financial condition or results of operations, as well as matters of timing and the prospective terms of any transaction described are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond bioMETRX's control with respect to market acceptance of their technology and/or products, whether financing will be available, the effect of the application of acquisition accounting policies as well as certain other risk factors which are and may be detailed from time to time in bioMETRX's filings with the Securities and Exchange Commission.

SOURCE bioMETRX Inc.

http://www.biometrics.co.za

Copyright (C) 2008 PR Newswire. All rights reserved

[LoanStew]

Just a brief update that there is no new update to report at this time.

[purrfectcalm06]

What is your point? Everyone knows this thing is done. bmrx has to deal with those products now.

[hbbus700]

"Bankruptcy is the kind of thing short sellers crave" I guess someone made a lot of cash here then

[LoanStew]

For those who are curious about Sequiam's former reseller, Cyberkey, which was a frequent topic of conversation on this board, their CEO has scheduled to plead guilty on Monday according to several sources to at least some of the federal charges he and the Company were facing. It appears that the allegations levied against them were true.
Hopefully Sequiam's affiliation with that company didn't start the domino effect that caused the unfortunate result here.
But with this likely being the end of that company as well, I suppose we will never know.
IMO

[knowlesmsncom]

You heard it here first.

1.Rollout.
2.Royalties.
3.Product line.
4.No more defaults.
5.BLACK AND DECKER/KWIKSET.
6.FUJITSU.
Just some of the reasons this is a good company.
IMO/FWIW

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=22141284

[knowlesmsncom]

NOPE it's just a fake out.......

This is the stock of 2008......

Sorry I can't publish a chart from stockcharts because they don't follow bankrupt companies or shells.......

WWwweeeeeeeeeeeeeee

Does anyone know when Sequiam will be releasing there next fantastic press release on all those new multi million dollar contracts? How about that Black & Decker royalty deal, how is it panning out? I really bet Fujitsu is really hugging onto there relationship?

PS - That was a great Conference Call, wasn't it? real uplifting too!!!!!!!! Really heartwarming to those long shareholders that were taken or moved by it...........

[hbbus700]

I will agree with that.

[purrfectcalm06]

I think.0000 curtains for this one.

[hbbus700]

.0001 here it comes

[hbbus700]

813K shares todays so far. Looks like another down day.

[cappttenron]

depends but usually shareholders get little or nothing

[hbbus700]

Question for the board...When a company files for Chapter 11, does that mean all the shareholders lose their stock? I mean when a company comes out of BK they restructure leaving the shaeholders with nothing right? If yes, how is this still trading as the IBOX says it is?
OK, so there was a couple questions there.

Thanks for any clarity that may come

[cappttenron]

The chart would be equivalent of a black hole. Where even light itself couldnt escape and your checkbook would be ripped apart at the molecular level.

[knowlesmsncom]

cappttenron.....

Since nobody tracks Sequiam through any charts anymore such as stockcharts.com I can't show it pictorially, but a chart would show a down hill spiral right into the ole John D.

Even extreme snow skiers would refuse to go down the Sequiam slope!!!!!!

[cappttenron]

this site is a nuclear wasteland now. Cant believe squm was some peoples due deligcnce pick.

[knowlesmsncom]

They could PR it, spend it........

and sell it but when it came down to it, they couldn't pay for it!.

"SKI Engineering has been left with an enormous inventory surplus of bioVAULTS and bioBOX's due to the Sequiam bankruptcy."

Stock of 2008..........

http://stockcharts.com/h-sc/ui?s=SQUMQ&p=D&yr=1&mn=6&dy=0&id=p18152038514


BTW - They couldn't prove it either........always tomorrow or next week.

[knowlesmsncom]

Now this is funny........

Sequiam has gone bankrupt almost one year to the day of there PR announcement that CyberKey Solutions left there product on the docks at there California Warehouse for non-payment.

Hummmmmmmmmmmm what's this? Who's name was scratched off, Sequiam's or CyberKeys?

The company has also sold and delivered over $30,000 worth of bioVAULTS and bioBOX's from our California warehouse facilities into our channels over the last two weeks.

http://biz.yahoo.com/prnews/080519/nym059.html?.v=101

What a mess this was!!!!!!!!!!!

[purrfectcalm06]

What's the word on the squm shell?

[hitechwatcher]

Sequiam takeover company BMRX release horrific financials for 1st quarter 2008.

Cash in Bank: $622.00

Sales for quarter: $2,743.00 (my daughter sold more Girl Scout cookies than that!!!!)LMAO

Loss for quarter: $1,436,262

Dilution from previous year quarter:100%

Unlike the lies in BMRX PR a day campaign NO SQUM executive is an employee or officer of BMRX. Heard that Barrow was livid when he found out about press release. Henderson and Barrow not employees of BMRX.

Sequiam financials 10 times better than this BMRX 10Q when Sequiam went into bankruptcy. By this statement in BMRX financial just released looks like the will be needing Basile's bankruptcy experience very soon.

From BMRX 10Q today:
"The Company has incurred a net operating loss of $1,436,262 for the three months ended March 31, 2008 and has a working capital deficit of $4,011,505 at March 31, 2008. The Company’s ability to generate revenues continues to be impeded by the limitation of capital necessary to manufacture products despite having substantial purchase orders. The Company’s net cash used in operations during this quarter was $112,477. The Company though optimistic about internally generating cash flow sufficient to meet recurring expenses remains dependent upon raising additional capital These factors raise substantial doubt about the Company’s ability to continue as a going concern, though the Company has raised additional funds.


There can be no assurance that sufficient funds will be generated during the next year or thereafter from operations or that funds will be available from external sources as debt or equity financings or other potential sources. The lack of additional capital could force the Company to curtail or cease operations and would, therefore, have an adverse effect on its business. Furthermore, there can be no assurance that any such required funds, if available, will be available on attractive terms or that they will not have significant dilutive effect on the Company’s existing stockholders."

OUCH, GLAD I AM NOT LONG BMRX!!!!

[protouch]

Wrong. Just called the company. Barrow IS under contract and Henderson is in NY right now, and is on payroll.

[hitechwatcher]

Another phony PR submitted by BMRX today about Sequiam Executives. News to Barrow or Henderson neither have a contract with BMRX.

Read the release closely "we will be working with". Sequiam executives have are NOT employees of BMRX. BMRX tried to negotiate contracts but as of today Barrow and Henderson not BMRX executives....FACT.

Nor did BMRX get Black and Decker (suing BIL and Crestview), Fujitsu and/or bioBOX as that is still owned by Ed Chen.

"so all products, customers and top executives coming to BMRX) is a fantasy. And as always once again my sources better than yours...the patents in yesterday press release are worthless that is why Sequiam never filed them. BMRX just issuing press release a day to keep the obvious from happening. Stock tanking just like Sequiam.

[hitechwatcher]

On this point you are missing the mark just a little. Annes diary was not Fujitsu's main end user. It was Novell licenses and they did sell 28,000 in the 4th quarter of 2007 for this use.

The problem was that with the crooked hedge funds and incompetent management of Nick and Mark Sequiam did not have the ability to fund the size orders that Fujitsu wanted to have.
Reminds me of a company I saw about 10 years back that one best of show at Comdex. It was called the Qube', the first tablet computer ever invented. They booked $30 Million in orders at Comdex and went out of business because they could not fund the manufacturing fast enough and.....boom Toshiba comes out with a tablet computer 13 months later.

What I find amusing is posters who were banned here are now moderator of BMRX board and don't see the same thing coming. The turn a blind eye to massive debt and dilution. BMRX and Sequiam both have incompetent management and inadequate financial resources to stem massive debt.

More sales at low margins did not solve for Sequiam and it won't for BMRX either.

So the problem was not they could not sell enough of the ScanQ, the problem was as now with BMRX with pathetic finances and management combined with low margins it is a recipe for disaster.

BMRX actually got very litte in the "takeover" of Sequiam by BIL and Crestsewer. They should of focused on correcting the defects in their current product lines and deficient management and finances.

[purrfectcalm06]

I don't really expect anything. But it doesn't hurt to ask.

[knowlesmsncom]

Yea right.....

Fujitsu just used Sequiam stuff Fujitsu's product in boxes like a mailer does for it's clients....... The real problem with that Fujitsu statement, it's still forward looking as it was when it was first pr'ed.

By the way.... Annesdiary.com traffic rank is down 56% over the past three months, get real!

[knowlesmsncom]

No attorney will take this......

case on a contingency and Sequiam management has completely ran it's coffers dry hiring talent and paying out hiring bonuses.

Hind sight 20\20 and truth on the matter is certain individuals in ranking positions and individuals out of Sequiam were pulling the wool over investors eyes and hyping this company to no end while they tool advantage of shareholders and paying some to attract new fish. Deals were made on company buyouts giving cash payouts to several insiders along the way and as it turned out the buyouts were shoddy deals with little return to investors that funded them through dilution.

The Black & Decker, NRA, Bank of Uganda and CJCC Deals never produced any real revenue to Sequiam's bottom line just a forward looking hype and a way to further bleed.

As the hypsters began losing credibility it looks like some ranking investors stepped in making management changes and inserted the dream team which the company financial supports could not handle the payout requirements causing the company to further spin into bankruptcy.

Very transparent company and structure indeed..........

[purrfectcalm06]

Hi,

Looks like the lawsuit hit some kind of snag lot of shares sold today.

[purrfectcalm06]

Hi,

Little action on SQUM today any more info on lawsuits?

[StockNemesis]

Shorting is not the issue either betting with or against a stock doesn't mean anything to me. It's when you make statements and can't back it up. Like where is the lawsuit he claims. Then he disappears into the woodwork or just ignores the question. No proof not even a link nothing.

[purrfectcalm06]

Nothing I said was directed personally at you. My point is that hitech is up front and shorting a stock is a legitimate way to make money. I think Mark Cuban wrote an excellent piece on this. He is upfront, aggressive and more than a little obnoxious but you know where he stands. In the time I have been following stocks on Ihub I have seen some of the most underhanded deceptive practices on the part of some posters. They try to gain people's trust, friendship and confidence all the while running a scam. So despite all the noise I'll take a guy like hitech at least you have an idea what you are dealing with.

[Jungle_Trader]

hitechwatcher/Downs?

Partial email from IDWD CEO Patrick Downs from Dec 2007:

Note: This note is not part of the original email from Downs. The following is where Downs reply to me (crossbow IDWD board) begins:



John, very close to on point. Will not be quick but breakout news will
be

in 1st quarter of 2008. It will take about 90 days to complete what we
are

working on but it is much bigger than HLS deal.



In the meantime this stock will move before IDS. Sequiam Biometrics
(SQUM)

another biometric company here in Orlando. Recently both Microsoft and

Intel executives joined their board of directors. Read carefully the
last

couple of press releases. Their 4th quarter numbers will be
substantially

larger and 1st quarter of 2008 numbers will skyrocket.



Microsoft is pumping huge money into projects with them as well as
Fujitsu.




I can't tell you exactly what is going on with them because of NDA's but
I

believe it will make SQUM go to $1.00 followed very closely by IDS.



I am glad I have


gotten rid of all the dead weight like Yasar and other executives I had

depended on and now with product being manufactured in the US and
dealing

with powerful JV partners 1st hand I believe '08 will be what it should

have been for IDS all along. Pat

--------------------------------------------------------
You need to tell CEO Patrick Downs of IDWD not to use SQUM to try and pump IDWD.

http://investorshub.advfn.com/boards/read_msg.asp?message_id=25987951

[StockNemesis]

I just wanted a link to his lawsuit claim thats all. The moderators no don't understand either why. Hitech just wants to make money off others misfortune any way he can.

[purrfectcalm06]

I have no emotions when it comes to SQUME. That money is lost. I'm not sure what hitech knows, but he knows something. Only time will tell how much that is. Since our great moderators have chosen to abandon everything altogether and not even update the I-box I'll listen to what he has to say. I've got nothing to loose it is already gone.

One thing for sure I-hub is a treacherous place it definitely isn't just a friendly village of investors exchanging information. Plenty of people on here have some kind of angle. I like to see who and what they are.

If you have any influence with the mods tell them to do the right thing and update the I-box.

[StockNemesis]

He wont give you a straight answer he dances around it. Basically playing on Sequiam investors emotions. Cant believe anything he says. He's just here to short \or supposable short BMRX at any cost... that's it