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I did, and again, my prognosis is wait and see. Would like to see some more indicators via disclosures, thats always been my focus, but these things take time. Hopefully we can get some positive accretive news soon.
Hi Duke, decided to come back to see how things are going here? Any updates?
Wow, NEXT BIOMETRICS just came out with a flexible filament sensor that can be adapted in many things, like....a smart card.......http://www.powerstream.com/thin-lithium-ion.htm - this company makes a paper thin lithium rechargeable battery...........bet you RXSF can get a card developed and into the market in less than 12 months, and the best thing is, its Patent will protect it. Lorraine, this is a project you should consider doing ASAP! Probably wouldn't cost $25M to do it either.
That is not totally correct. The main reason of the R/S, as stated by the CEO, was to clean up the cap table and get millions of shares out of former ("Stratton-Oakmont") brokers hands who were "consultants" to the company when it was private, and whom the company beeves drove the stock down intentionally from .30 to .005 in an effort to accumulate stock cheap and take over the company. They didn't pay for stock, (i.e.: no basis -$0-in the stock they held), and brought absolutely no value to the company. The R/S was also to clean up the cap table to manage towards an uplift. It wasn't to do an actual uplift. There are other criteria the company needed to meet. The R/S just makes it easier to do.
Here is my 1 post for the day. GLTA
YD - I continue to enjoy your posts.
A simple reading of the companies 2015 disclosures show 2 things dealing with Coventry. That "note" was paid off by the company before its due date, and the Equity Line ($10M) was terminated and cancelled by the company with no penalty. So printing to that note, knowing the disclosures show its been paid off and the equity line terminated, is poor DD.
In one sense, you may be partially right, but success will NOT come down to dilution. ALL companies suffer some form of dilution along the way, especially when it has little capital resources to pay people and when raising money. But dilution is a factor most day traders look at because they think its a sign of future sufferance. Its a terrible metric that clouds what could become in a matter of months. They look at dilution because they are short-term, not longs. So let's really take a good look at dilution from the perspective of sufferance.
Not a single 144 Form filed in a year. NONE
Not a single Form 4 indicating sales. NONE
Form 4's indicating purchases and stock acquisitions.
10M shares converted into common, but ALL subject to 12 months LOCK UP.
Company has settled and taken out several convertible loans over the last 5 months.
Bonuses and pay issued in stock (worthless because they can't sell, and agreed not to)
Stock conversions........maybe a total of 90K shares since February - but leaked slowly into market
Any more stock issued by company (increases O/S and are all restricted for at least 6 months)]
Management is always the one to blame when traders feel there will be dilution because that assumes management is ready to jump in, sell, and screw the traders. Point to ONE FACT that shows this management team is about to sell.
So, when does dilution effect you? WHEN THAT STOCK IS SOLD! It doesn't matter if you own 20,000 shares, and the CEO owns 1,000,000 shares. Why, because your shares are worth $1.25 a share, and so are hers. If she gave all that stock back to the company, your stock would still be worth $1.25 a share, yet your market cap would go down. Your shares are your shares, and a company issuing more stock ONLY effects your holdings IF THEY SELL and that selling DRIVES THE PRICE DOWN.
So dilution here is more of a psychological myth here. It creates panic, and then it misdirects the progress of the company to potential new shareholders.
Now let's talk about raising money.......there will be some form of major dilution (don't be scared) at some point, when "investors" (those who put money directly into the company) will eventually be rewarded with stock based on some instrument. The real measure is AT WHAT PRICE would a deal be done at. If its above market, great, you just got a little appreciation above market, if its at a discount, doesn't mean that will be the new market price.
So now you have to consider support and when. I see a few different levels...the company needs to start generating some support now in order to slowly improve the PPS, to get it within reason so it closes in on that NASDAQ listing requirement. Not much should do it...last time 30K shares moved this $5.00 in a few days. I think the MM's smartened up and were caught by surprise last time. This time it will take more than 30K shares. Maybe 150K to move it that far up again, and thats still NOT a lot of shares. Will securing capital bring with it support to the company's market? If so, how much, where, when, how and of course........when can I sell as quickly as possible to make a profit. Again, a long will go through 1, if not 2 major funding cycles before getting out.
I am SICK of hearing everyone crying dilution - with 5,000 shares trading a day at slightly above a dollar - there is NO MARKET yet for this stock, no volume, dilution, etc..... is a waste to discuss until the company establishes a market for its stock. Is it time to get in now......... you decide.
And the lawsuit, CEO bonuses, quarterly pay (thats accruing) is nothing but a DISTRACTION from the signs the company is progressing. We may not see it yet, but ALL the signs are there if you know where to look.
Take a look at STRT (Strattec) for example. A NASDAQ Security company in the automotive industry for decades, trading at $57.00 a share, yet trading volume comparable to RXSF. STRT has hundreds of millions in stable revenues, but basically has NO MARKET for its stock. Its about awareness. They lack public market awareness, so it doesn't matter how much revenue you have, how big your float is, or what the CEO and management are getting paid, the market reacts to new and good things. And unlike STRT, RXSF is new and good.
This is why I always said, any analysis looking into the pockets of the insiders in this company is a waste because they haven't sold in years, and agreed to lock up for years. Looking at dilution is a fallacy, other than the two notes that converted and are slowly leaking into the market. If this were trading 10,000 shares a day, you wouldn't even point that out.
So how do you build awareness. You have two choices.........PUMP & DUMP OTC scams.....and then you can kiss ANY national exchange bye-bye, or you can get in front of guys who take a LONG hard look at the company, its products, its markets, understand the capital needs, and the company develops its market slowly. S L O W L Y. Then those guys help develop a LONG TERM plan on growing the several different areas in the business and the capital markets, so THEY can make money.....which translates into WE MAKE MONEY.
There is no magic PR that will change anything until people are watching this company. I wouldn't waste a single PR until the eyes or on this. Vedderman is right, the last several PR's allowed selling with little to no support, and you wonder why the CEO is silent. I think she is waiting for the right time, and is getting great guidance by her IR form ad well as bankers.
Interesting find, but seems like some points are not emphasized correctly.
According to Lorraine, The lawsuit has been refiled. It was originally kicked due to an administrative error by the court first, then the attorney. You need to read the complaint before you can actually comment on any of the substance because that case has nothing to do with the conversion, and everything to do with the massive fraud leading up to the conversion. The conversion in that case was compounded by the companies T/A, but DD would require to read the whole complaint in order to put surface facts into perspective.
All of the existing convertible notes have up to 135% pre-payment penalties, but only 2 have been converted out of 16 (how did that happen?). Sone of others have already been taken out. The two that have converted are subject to independent leak-out agreements, as well as the rest of them. Lorraine explained to me that the company needed to increase its public float, so this program is a responsible way to do that slowly. Lorraine explained it to me that since the company has gone out for traditional equity financing, that the remaining notes at the time of funding, will be retired upon closing. Up to that point, Auctus Fund is serving as a note take/out, liquidation agent by providing new money to pay off old, before those other notes have a chance to convert. That has the effect of rebooting the 6 month waiting period to age before the note can convert. This has been put in place until funding at which time I expect Lorraine has a plan for Auctus to convert its outstanding notes into the bigger deal. The company has seemingly done this several times already with Auctus, hence, after 16 convertible notes, 2 converted and under leak-outs, 7 paid off and retired, and 5 subject to the Auctus plan. That also explains the number of Auctus notes.
Seems she has that under control as well.
Yes, and I suggest EVERYONE invested here get a copy of that complaint to see just how underhanded KODIAK is. Its public record and the case is PENDING. Maybe your CEO is in bed on a death spiral $1,000,000 equity line. - Take a look at RXSF trading from end of December 2015, looks like KODIAK and BMAK took the stock from $7.50 down to $2.00.
MISINFORMATION coming from this company - RXSF has a pending case against KODIAK in the Federal District Court for the Southern District of New York. IN fact, just from a DD perspective, Cameron should have called RXSF CEO Lorraine Yarde instead of maybe relying on KODIAK'S representations. RXSF suing KODIAK BIG TIME for FRAUD ($5,000,000).
Go look to see who the Ruth Group is. They are not an OTC IR firm. They don't run pumps. They don't cold call investors off of BS lists. They don't print a newsletter and send it to penny stock traders. They are a REAL IR firm with only NASDAQ and NYSE companies. If you want pump, go to another OTC stock. There are a million To choose from
What about SMME's new biometric smart card it claims to have?. Seems like that company is gaining a LOT of traction in the card industry. Can anyone here explain the differences maybe showing the Wocket's superiority?
Actually you don't, so
let me fill in the blanks that some intentionally leave out -
I get one post a day, so bear with me on this:
Let’s talk Patents first: The company owns several, plus a portofilio of other intellectual property
RXSF’s exclusive rights to base patent has a variety aspects to Claim1 that the balance of the patent is based on. So let’s take a really good look at that before we dig further in to see what the patent really covers. This should be interesting.
Claim 1- This is taken directly from the issued certified patent at the USPTO
What is claimed is:
1. A biometric verification device for providing secure access to a unit connected to the device, the device comprising: a. a biometric sensor capable of sensing a biometric trait of a user that is unique to said user and providing a first signal containing information representing said biometric trait; and b. a processing unit connected to said biometric sensor so as to receive said first signal, said processing unit being adapted to compare said information with biometric data stored in said processing unit representing a biometric trait of an enrolled person, and provide a verification signal indicating whether or not said information corresponds sufficiently with said biometric data to verify said user is said enrolled person, wherein said processing unit completes said comparison and generates said verification signal within 20 seconds of when said biometric sensor senses said biometric trait, said biometric sensor and processing unit, together being configured to use no more than 1W of peak power.
2. A device according to claim 1, wherein said biometric trait is a fingerprint.
3. A device according to claim 1, wherein said biometric trait is an iris pattern from an eye.
4. A device according to claim 1, wherein said processing unit completes said comparison and generates said verification signal using no more than 400 mW of peak power.
5. A device according to claim 1, wherein said processing unit completes said comparison and generates said verification signal within 7 seconds of when said biometric sensor senses said biometric trait.
6. A device according to claim 1, wherein said processing unit stores said biometric data representing a biometric trait of an enrolled person using no more than 1 K bytes of data.
7. A device according to claim 6, wherein said processing unit stores said biometric data representing a biometric trait of an enrolled person using no more than 256 bytes of data.
8. A device according to claim 1, further including one or more batteries that comprise the sole source of power for the device.
9. A device according to claim 1, wherein said processing unit includes non-volatile (flash) memory for storing said biometric data representing said biometric trait.
10. A device according to claim 1, further including a wireless interface for connecting the device with the unit.
11. A device according to claim 1, further including a wires interface for connecting the device with the unit. (this was amended to say “wired”)
12. A device according to claim 1, wherein said processing unit performs said comparison with false acceptance rate of less than 0.5% and a false rejection rate of less than about 5%.
13. A device according to claim 1, further including an external unit connected to said processing unit, said external unit being operable independently of said sensor and processing unit upon receipt of said verification signal indicating said user is said enrolled person.
14. A device according to claim 13, wherein said external unit is remote from said sensor and processing unit.
15. A device according to claim 13, wherein said external unit is physically proximate said sensor and processing unit.
16. A device according to claim 1, further wherein said processing unit modifies said image to account for variations in said output signal from an absolute value arising from at least one of (a) manufacturing variations and (b) expansion and contraction arising from changes in pressure and environmental factors.
OK, seems pretty straight forward. A point has been raised that this patent ONLY applies to a “pill box”, which any patent attorney would tell you is absolutely ludicrous. To REALLY find out what all the above means, we have to go to the area titled “DETAILED DESCRIPTION OF THE INVENTION”. And here it is. I am going to “exerpt, those descriptions, that the Patent examiner APPROVED, in order to allow clearer focus on what this technology patent actually covers …….
DETAILED DESCRIPTION OF THE INVENTION
Referring to FIG. 1, the present invention is a low-power, standalone, fully self-contained, battery-powered fingerprint enrollment and verification device 100. As described in more detail below, device 100 permits rapid enrollment of multiple fingerprints and permits rapid verification that the fingerprint of a user corresponds to a previously enrolled fingerprint. These functions may be achieved using as a power source two conventional AAA alkaline batteries which, depending upon frequency of use, typically last for 6 months or more. As used herein, the term "fingerprint" includes thumbprints and toeprints.
AND HERE IS THE MEAT
Device 100 is designed to provide secure access to external unit 140 that is connectable with device 100 via an interface 150. Virtually any device or system may be used with device 100. Thus, for example and without limitation, external unit 140 may be any of the following devices: computing devices such as laptop computers, desktop computers, and calculators; PDAs; portable communications devices such as cellular telephones, beepers, pagers and PDAs; security systems such as those used in a home, business or automobile; weapons; and any other device where it is desired to restrict access to only previously authorized persons.
Interface 150 is used to connect device 100 to external unit 140 via connection 160. Connection 160 may be wired or wireless. In this regard, connection 160 may comprise, for example, a full duplex asynchronous serial bus standard similar to RS232, Universal Serial Bus (USB), Weigand bus, serial form, 1.sup.2 C, SPI, parallel, PS 2, Infrared Data Association (IrDA), Bluetooth and Palmnet, and any other wired or wireless communication protocols. In addition, connection 160 may be a custom communication protocol.
Thus, device 100 may be positioned immediately adjacent external unit 140 or may be located a substantial distance away from the external device. In fact, in some cases it may be desirable to integrate device 100 and external device 140. In this case, connection 160 may be simply a wire extending between device 100 and external device 140. When so integrated it is a misnomer to described device 140 as "external," and so this term encompasses devices 140 that are both separate from and intimately integrated with device 100.
So RXSF technology absolutely covers any device (including lock boxes, safes, cards (like smartcards), the company medical devices as well as the devices stated in the application – as long as RXSF’s covered technology operates within the stated parameters, using less than 1 watt of power, small template, less than 7 seconds to produce a result, etc……….
If you read the patent quickly and don’t look at the detailed descriptions, then you sometimes make mistakes. Now all of the specifications were actually designed to minimize power consumption, and no other company has come up with a more powerful patent when it comes to a non-networked biometric unit. This patent provides protection only to battery-operated biometric products, and that’s the point no matter who wants to spin it.
RXSF is obviously not a patent troll, or it would be spending all its money pursuing other bigger companies. Rather, the history here is to use the leverage of its IP to partner with bigger brands (like they did in the past) to develop innovative and cost-savings secure products.
Lets use a smart card or credit card for example. A smart card for instance, is a stand-alone external product/unit capable of providing sensitive financial and other information. It has its own functions within its own micro processing chip. Now if you put a fingerprint reader on that card, power it with a battery, and its internal matching components and processes meet RXSF IP criteria……uhhhh…you have a patent violation. It’s that simple. So when an “outsider” challenges the validity and scope of another company’s IP, and tries to “limit” its application by pointing to language that does not exists in the claims (like pill box), has am ulterior agenda. Any product that meets the power, matching speed and template sizes, and relies on that system to provide authentication, well, would violate RXSF patent rights.
The "toxic loans" are subject to strict leak out agreements. Its not a free for all for the holders. Thats the best you can get right now.
The convertible preferrers are a non-issue, because they are locked up from january for over a year, then further restricted by rule 144. So if your still holding this time next year, chances are you saw great progress and great accretion o your holdings, if not, you probably got out before any perceived threat from the preferred holders.
Past attempts to monetize the technology, were MORE than successful. In the home improvement and security market, this management not only innovated fingerprint products before Apple and Samsung did, they SOLD 40,000 garage door openers to Home Depot, having sold more than 20,000 gun safes to COSTCO, having 100 year old security brands such as Honeywell and MasterLock give them their brands - at no cash or upfront cost...... The ONLY reason why they had trouble last time was that those products were consumer high end tech products, and when the market crashed, they pst an $8M funding, their partners canceled programs as they were laying off 20% of their workforces, and consumers just were;t buying high end luxury security products at the end of 2008. Its always better to make sure the WHOLE story is explained rather than bits. It helps investors to understand the bigger picture and assess the risks for themselves.
Thank you for providing clarification on this companies patents. I had a chance to read the main patent again and its obvious that it covers a broad range of biometric devices. It doesn't matter if the patents lapsed, all that matters is that they are current, active and protecting this companies products.
Drawing attention to the patents having lapsed is not really relevant or productive. They are active and current, and thats all that matters. IN fact, the patent seems extremely broad and I decided to cut and paste some of the key aspects of this patent.
DETAILED DESCRIPTION OF THE INVENTION
Referring to FIG. 1, the present invention is a low-power, standalone, fully self-contained, battery-powered fingerprint enrollment and verification device 100. As described in more detail below, device 100 permits rapid enrollment of multiple fingerprints and permits rapid verification that the fingerprint of a user corresponds to a previously enrolled fingerprint. These functions may be achieved using as a power source two conventional AAA alkaline batteries which, depending upon frequency of use, typically last for 6 months or more. As used herein, the term “fingerprint” includes thumbprints and toeprints.
Device 100 includes a logic unit 110, which may be a microprocessor, a microcontroller, an ASIC device, an FPGA or other logic devices. The specific logic device used is typically selected based on performance, cost, power-consumption and other criteria. In one embodiment of device 100, logic unit 110 is an Intel microcontroller identified by model number 80C 251TB24. Logic unit 110 is connected via bus 112 to memory unit 120. The latter includes program memory 122 and dynamic memory 124. Program memory 122 provides persistent storage of data and may comprise a read-only memory (ROM) chip, optical memory such as a CD ROM or DVD and associated reader, magnetic memory, RF ID tag technology, inductive memory and other memory usable in a wired or wireless environment. In one embodiment of memory unit 120, program memory 122 is an Atmel EPROM identified by model number 27C256R. Dynamic memory 124 provides transient storage of data generated in connection with operations performed by logic unit 110, and may comprise a random access memory (RAM) chip, e.g., an SRAM or DRAM chip. It is preferred, but not mandatory, that dynamic memory 124 include non-volatile memory for storing certain data such as fingerprint templates previously enrolled in device 100, discussed below, and other secure information. Such non-volatile memory is designed to store such templates and secure information when power is temporarily removed from device 100, e.g., while changing batteries. In selecting the non-volatile memory to be used, it is preferred the memory be capable of storing such templates and secure information for at least 1-2 minutes. While program memory 122 and dynamic memory 124 may be implemented as separate devices, depending upon the implementation of logic unit 110, program and/or dynamic memory may be an integral portion of the logic unit.
Device 100 also includes a program 126 stored in program memory 122. Program 126, in cooperation with logic unit 110 and memory 120, is responsible for performing the various operations necessary for fingerprint enrollment and verification, as discussed in more detail below. Program 126 is typically implemented as firmware, although the present invention encompasses implementation of the program as software.
Also included in device 100 is fingerprint sensor 130. The latter provides the raw image of a fingerprint positioned proximate the sensor. The relative proximity of the fingerprint to sensor 130 will depend upon the type of sensor used. With some sensors, e.g., capacitive type, the fingerprint will need to be brought into intimate contact with the outer surface of the sensor, whereas with other sensors, e.g., optical type, the fingerprint will need to positioned within about 2-5 mm of the outer surface. Thus, as used herein, the term “proximate” includes both positioning the fingerprint in intimate contact with the outer surface of the sensor and positioning the fingerprint near, but spaced from, the outer surface.
In one embodiment of the present invention, sensor 130 may be a capacitive fingerprint sensor of the type having a matrix, e.g., 224-288, of metal electrode pixels, each of which provides a gray scale output signal providing a representation of that portion of the fingerprint contacting the sensor in a digital signal, e.g., 8-bit signal. A suitable fingerprint sensor that may be used as sensor 130 is sold by Infineon Technologies AG, and is identified as the FingerTIP sensor FTF 1100 MF 1. Other types of fingerprint sensors may also be used as sensor, including optical sensors, thermal sensors and e-field sensors.
In selecting a fingerprint sensor, it is preferred that the sensor provide gray scale information on a pixel-by-pixel basis where each pixel provides such information for a sufficiently sized portion of the fingerprint to permit performance of the various operations described below. These operations are used for fingerprint enrollment and verification. Sensor 130 is generally part of device 100. However, in some cases device 100 may be constructed such that sensor 130 is not part of the device, but rather is a separate element to which device 100 is adapted to be connected.
Device 100 is designed to provide secure access to external unit 140 that is connectable with device 100 via an interface 150. Virtually any device or system may be used with device 100. Thus, for example and without limitation, external unit 140 may be any of the following devices: computing devices such as laptop computers, desktop computers, and calculators; PDAs; portable communications devices such as cellular telephones, beepers, pagers and PDAs; security systems such as those used in a home, business or automobile; weapons; and any other device where it is desired to restrict access to only previously authorized persons.
Interface 150 is used to connect device 100 to external unit 140 via connection 160. Connection 160 may be wired or wireless. In this regard, connection 160 may comprise, for example, a full duplex asynchronous serial bus standard similar to RS232, Universal Serial Bus (USB), Weigand bus, serial form, 12 C, SPI, parallel, PS 2, Infrared Data Association (IrDA), Bluetooth and Palmnet, and any other wired or wireless communication protocols. In addition, connection 160 may be a custom communication protocol.
Thus, device 100 may be positioned immediately adjacent external unit 140 or may be located a substantial distance away from the external device. In fact, in some cases it may be desirable to integrate device 100 and external device 140. In this case, connection 160 may be simply a wire extending between device 100 and external device 140. When so integrated it is a misnomer to described device 140 as “external,” and so this term encompasses devices 140 that are both separate from and intimately integrated with device 100.
Device 100 is powered by power source 170 that is preferably connected to the device via interface 150, but may be otherwise connected to the device. Typically, power source 170 comprises one or more batteries, e.g., two conventional 1.5 volt AAA alkaline batteries of the type sold by Eveready Battery Company, Inc. under the trademark ENERGIZER®. Of course, lithium or other longer-lasting batteries may be used as power source 170. Power source 170 may also be an external source of power, e.g., line power with power conversion and conditioning, although this will reduce the portability of device 100, which is an important but not mandatory objective of the present invention.
Program 126 includes a group of program modules for capturing, processing, manipulating, comparing and storing fingerprint data generated by fingerprint sensor 130. Software modules include sensor data capture module 200, image processing module 202, minutia extraction module 204, template creation module 206 and template compare module 208.
Its nice for those of us interested in the technology and that the company has such broad patent protection.
Also, regarding the Preferred shares, another non issue. Those shares are held by those who actually put hard dollars into the company when it was private. Those shares are locked up now. If there was some evil intent, you would see Form 4 and Form 144 SALES over the last 12 months, as is with most every other OTC company. None here, so again, its a non -issue.
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We will see
Let me answer those questions for you, maybe you will understand:
The bank approval process, with testing and pilot program will take about a year before you see any substantial order. There is a tremendous amount of work that is needed, not only from the technology side, but training, marketing and distribution. And thats just on the bank. We don;t even get to SMME contract manufacturing yet.
I have over 25 years in biometrics and 10 of those years in a biometric/smartcard based system. A licensing deal is relative, because it still has to go through a process for approvals. No major bank will license something new, especially a new technology, until its certain it will perform within stated parameters that the banks need to comply and conform to. So again, maybe 3-6 months for a licensing deal, then another 6 months to implement.
I don't expect results in a few weeks. Not the results YOU seem to be looking for. I expect to see movement on a few weeks if the convention was successful. For instance, maybe some buy-side guys will have heard about SMME and our volume will increase along with PPS. Maybe some independent trade research will be done and SMME will get much needed coverage. maybe she will email or put out a PR that she is in negotiations with XYZ. Some movement. Thats exactly what I meant by a couple of weeks.
I agree, if true. It was a coming out party and hopefully got some attention. Thats all you can hope for from these things. Remember, there are other card companies, ZWIPE, Card-Lab, Card-Tech and others trying to do the same thing, and they are all at various stages of growth and technology development. SMME isn't the only one, but it seems close enough.....if the card works as stated. But you still need market adoption. Just because something does something what we thnk is great, doesn't mean it will be adopted.
That could be true, but there are other, more well funded companies tat are biting at SMME's heels that already have relationships with VISA and MC. Remember, suing MC for patent infringement may not bode well for SMME in the future. It may have no effect, but these companies have memories like elephants.
Not true. Card-Lab has a rechargeable on board battery as well. At least, thats what they claim, same as SMME.
The last 2 statements are opinion, which in your estimation, may or may not be compelling or true. They may be, but I am not sure what you're thinking.
I think that if Chaya can get this past bank review and testing, her then biggest challenge will be consumer adoption, and thats a whole other set of factors the banks will consider. I hope she does.
Actually, Chaya may have done herself and this company a good service. Look, I am not against SMME. I own over 25,000 shares. Not a lot but enough to voice concern like anyone else. After this weeks presentation, she has now got some attention. How much, I honestly don't know. But don't go around beating your chests just yet. She has a long hill to climb with many obstacles to overcome. She may, or may not do it. I hope she does, but since I know a lot about this technology and its industries, I look for more concrete signs.
Its the best outing for this company so far to date. Maybe she can gain traction. But I look at the metrics, from the technology to the marketability and adoption. Its a hard road. Can she pull it off, maybe....that depends. Does the card work as stated, and if so, is it within the requirements for consumer usage as the "Banks" see it. I know they are looking at a lot of other types of technologies to try to accomplish the same thing. It just depends if the card presents an overall value proposition. Right now, I say it might. Nothing more yet.
Agreed. Everyone needs to stop pushing and give her a few weeks to prove to the industry she is right. It is easy to tear apart the filings, but why waste time now. Now is a short wait and see. Now if someone doesn't like my assessment do your own DD. Then don't ask me. But if you want to challenge my knowledge in this field as well as the market, you will lose plain and simple. I'm not here to cast doubt. I pointed to facts and disclosures. I raised questions. I went out of my way to attend the convention and My assessment right now is wait. Didn't see it work. Just a fancy display with a card and a good presentation. I am saying let's see. If that's not good enough, or if you want to criticize my assessment better call your CEO to provide you with information.
Oh, I saw it In The case. No one saw it work. Not yet anyway. I am willing to wait and see, but if you want to push this, I'm ready to go. Are you counselor?
All well and good. Seeing is believing. Let's see it work and that will change the dynamic and make us all money.
Why isn't skepticism. You and your new friend are way off. I have a neutral assessment because I didn't see it work or demonstrated. Have you? If so, give us a review. When I see the card work I will believe it. There are technical issues for it to be commercially feasible based on how it has been described how to works. Do the jury is still out. If a bank buys it, it must work. Show me a contract. Until then, it's speculation. And the filings certainly don't support much by way of manufacturing and money spent on development. But I am willing to wait and see. I will buy lore stock if Insee a contract or a demonstration that it works. If you want to get into it, just open the door and I will be happy to oblige. But I suggest you back off and wait to see what the company does from here. That's what I said I would do.
No. She was busy and I know Inwould have posed a distraction. Without a card demo it wouldn't have mattered the questions I asked. Anyone can explain things. And they could sound feasible. It's more important to see it work. Then ask questions. I heard it all before anyway. But this was progress. That's why I am willing to wait some time. Any bank deal would mean they tested the card.
I wouldn't say she was amazing. She did a good job reiterating what the company has been saying all along. I think she has some challenges, but I am closer to giving her more time to see what comes out of the presentation because the company seems to be taking more action now, and driving forward in a more public and business way than it has in the past. I say give her at least 2 months to see if she gained traction. Even if she doesn't, it just may mean to change direction slightly - all this, assuming the card works as the way pitched, and meets all of the marketing and security expectations of banks - and that includes acquisition costs.
I don't think the banks will offer clients the option to "buy" this card for personal use as a higher form of security, but thats something that should be considered when marketing this to banks. Maybe get some of the banks insurers to cover some of the cost, as it could potentially reduce millions in fraudulent use. Just suggestions. Let's see what happens.
Its interesting that some traders focus on 2 things, dilution and management/insider stock issuances. Normally, these two items are at the top of any traders lists as....red flags....right? But knowledge and research are a wonderful thing, and while those 2 aspects of a public company are usually met with knee-jerk reactions when you first hear about them, its better to examine what and how they are for each company. Pointing to "some" aspects of filings" without pointing to "all" aspects of filings, affecting those issues, is like watching the farmer run into the old dried our barn with a set of matches, and yelling fire! without knowing the fact that all he did was light a candle to see.
Good thing Cheeky, Hokie and others have done their complete DD, because the filings also reveal:
That ALL of the notes up to Oct. 15th have been paid off and retired by the company. NO DILUTION up to then and when those notes aged. After Oct. 15th, 3 of those notes have been retired in full, and 1 has been allowed to convert under a strict leak-out agreement, and strict meaning it is controlled and monitored closely by the company and its counsel. The ONLY anomaly was Kodiak, that bought a 3rd party note behind the company's back, violated a leak-out agreement and dumped all those shares over a 2 week period. So what happened next - the company sued all of the bad players for $5,000,000 in Federal Court under Federal Rule 10b-5 Securities Fraud. The CEO even said that any award money will be returned to the market.
Now on to stock issuances to insiders/management. The disclosures demonstrate the stock issuances were done for 2 reasons, to get rid of bad players (former Stratton Oakmont Brokers and their affiliates) who received millions of consulting shares in 2012 when the company was private, and brought the stock down from $1.00 to .005 in less than 6 months after it became public, AND, to make sure the founders and shareholders that put hard money INTO the company, would never lose control. To that end, dilution is bad ONLY when the insiders sell. No FORM 4's, no Form 144 filings, no stock sales in OVER A YEAR. And to AMPLIFY THAT, The insiders recent conversion of preferrers were all voluntarily locked up for a YEAR and done solely to bring the company market cap to the levels to attract conventional equity funding.
The company has been very transparent with its process.
I think that was a very fair report from Chaya. Thank you.
I wish it were better, but it is what it is. I was neither impressed or dissuaded. If it works, and she cleans house, it could be a game changer. If not, its just the same ole, same ole.
I heard the regurgitation of prior press releases. There was some traffic around the booth, but there were no technicals and no demonstrations that I saw. The show was heavily attended, but the size of the convention hall allowed the people there to spread out. As a presenter, she did well, but didn't disclose anything new. So, the verdict is out. She presents well and knows her facts, but there was no way to see the card work. It may, it may not, so I can't comment. Card-LAB was not there but there were some other card-based companies that actually demonstrated cards. So, in theory, what SMME has would be a solution for this market, if its real and if its adopted. Some of the attendee's I spoke with (Banks and a few bank security consultants) said they were looking at other, network based security solutions that puts the finger scanner on a POS terminal, although that has been around for a few years and some other countries company's have adopted that. Systems like those are also intrusive.
I saw the card in the case. I spoke to a few people, and there was some interest. They wanted to see it work, so maybe Chaya will have private show and tells. I know any bank that would be interested would want this company properly capitalized, and in my estimation, thats about $50M to survive 5 years of manufacturing and customer service, at the levels Chaya expects. The banks look for financial stability in a company. Can she get there? She needs a serious reverse split, acquire a company with revenues, and uplift to get her the money and attention this needs. She is not going to do that, or even meet the banks financial requirements just on a few PO's if she gets them.
So right now, I am neither a strong supporter here, or a basher. I personally will give this 2 more months to see if this show provided any traction for her. If so, I'll buy more. If not, it was a gamble to begin with.
I understand that the company will be putting out a video presentation from the Sidoti Conference early next week. I watched the presentation live and feel after you see the presentation, a lot of your concerns will disappear. Most of you really have no idea the depth and breadth of this company from just the DD, but you will after the presentation is released. IMHO, everything will soon follow. I have to assume that the bankers are authorizing the presentation's release, or the company wouldn't be doing it. Seems to me that this company does things pragmatically. If they keep true to how they release information, and if the video presentation is any sign, we should be hearing soon about the banker. I am just as impatient as the next poster, but I see the bigger picture and that results come slowly. I've waited years, I can wait a little more.
Now of course some posters will see the video presentation as fluff piece, and based on what I saw, if your IHUB instincts tell you it is, take your own action. If you actually dive into the meat and listen and watch where this company is going, again, take your own action. Just letting you know no news, doesn't mean no movement and no progress. It just means they haven't told us yet.
And I am also convinced that once things are announced, that we will see action dealing with the raise and sales.
An S1 can be approved in 60 days provided, 1) the company already had an S1 approved in the last 2 years, and 2) the S1 is submitted within 3 months of the company filing its K. But they don't teach you that on IHUB.
Too bad the research report left out the largest manufacturer of rolling medicine carts....S&S Medcart - which BTW, I am SURE if someone here does their DD, will see that Lorraine already has a relationship with them - the company doesn't say things in a void, I know there is a method to their madness, hopefully others start seeing that as well.
Actually, the way I read the Tweet is that the company can't figure out some of the two-faced chatter. Great company, great DD, yet constantly slammed when things don't happen yesterday, or haven't you run a public company Dave? I think its actually running 2 businesses in one - you have the business side, and you have the street side. Are your company's public? It may feel like disdain to those who feel as I do, because you can't claim to be a company advocate, yet come here and raise every single negative nuance, quite frankly, as you have. Its obvious to most of us that you will have to join the board of directors in order for you to know ever fact you claim should be disclosed. I beg to differ. Almost every other public company does not get as granular as this one does with its shareholders. Thats just a simple fact. If there is something you don't understand, its been said numerous times to call the CEO.
In fact Dave, I mentioned you to her the other day, and she said if he has any questions, to call me instead of speculating, because his speculation has been interpreted wrongly. If he really wants answers, I am a phone call away. Her exact words. So now you have the CEO saying to you for you to call her instead of first posting up your questions here. So, here is where the problem is.......you, among others, assumed the company (or its lawyers) made a mistake with regard to the pending Kodiak case - never thinking I could be someone else that made a mistake. An administrative mistake does not need to be disclosed unless its final and effects the company negatively, which it didn't, nor does it seem to be a mistake made by the company. But the very first reaction on this board was the company made a mistake, and in your words (with regard to other issues), should admit to its mistakes.
I assume you like the company, but disagree with how they do things. And thats fine and everyone is entitled to their own thought processes, but if you disagree so much (which you do, let's face that) then why buy its stock and stay around. If they keep making mistakes that "dilute" other shareholders, (which is just a perception when you don't look at all the facts) you are simply throwing them in with most other OTC companies, so again, why stay if the ultimate goal is for the insiders to screw the shareholders. I think you actually see whats happening, hence your refusal to leave because you see an opportunity here to make money, as do others including myself.
How about before you continue your cat and mouse game here, you call the CEO to get the real answers instead of speculating, even though thats a lot of fun.
Lol. I'm retired. I would only consider helping to promote the industry. let's first see if they have a working card.
I'm aware of that, but the fact is NO CARD ISSUER is going to pay $50.00 for a card. Why? because I know the CEO of MasterCard and already spoke with him in general about the subject. He said most of his peers wouldn't either. So SMME needs something more compelling. If the card works I will get behind it and see if I can leverage my contacts to help. But not for free either, LOL
I had the pleasure of being invited by Lorraine to the Sidoti Conference in NY. Quite frankly, seeing the company present and the amount of attention Lorraine got, its only a matter of time now before this company is on the map. I was allowed to be a fly on the wall at something that was quite overwhelming to me. I can't even begin to explain what I saw, because it was mind blowing. A lot of NYSE CEO's said the same thing, they wanted to know who the only OTC company was at the show. I counted at least 5, but later Lorraine showed me cards from more than 20. If you think the company or Lorraine is impressive to begin with, you are doing yourselves a disservice by not meeting her and seeing her in action. She said she has an open door to all shareholders. Class act my friends.
I am only limited to 1 post a day, but I will leave you with this. There was only POSITIVE (actually, extremely positive) feedback that I heard from big Wall Street funds, bankers and brokers. They all saw the value proposition this company offers the market, Lorraine is both incredibly knowledgable and beautiful, and was by FAR the best, most dynamic, and empassioned presenter there. There was so much energy around the company, huge crowds trying to talk to her, and I met the bankers. I was asked to not disclose who they are until the company announces them. In fact, they didn't leave her side most of the day, at least when I was there.
Anyone here looking for the littlest negative innuendo to try to cast doubt really has both feet up their asses. She is so unassuming. I asked her about the IHUB people, she said we are a critical component to the success of this company and she doesn't understand why there is any negativity with such positive things going on. She said anyone trying to cast any doubts and looking for reasons to fail should just move on. She has much bigger plans for the company, which I heard talked about with some of the bankers, and it will blow us all away if she gets us there. She is focused like a laser beam but she doesn't expect instant results. Even the bankers said it takes a little time for the real market to respond, but they will. After meeting the bankers, I am 100% happy, and actually really really excited. I am quite happy for all us ones right now.
How about this. What if most of the posts today pointed to something positive since today is the first day real new eyeballs will be looking for this company.
Funny, now allowed one post a day due to my untimely suspension. I guess we are back to magic grits. While you are bitching it's taking too long your CEO took a red-eye and just landed in NYC because there are several pre- conference meetings the banker set up for the company today. She is making arrangements to video stream the presentation so YOU can be there as well to see for yourselves. Stop crying like spoiled babies. Sell now and get out of the way because I believe real investors will be showing up over the next 3 weeks. Who the hell said this was going to happen today or yesterday or next week? Those are your unrealistic expectations that were developed by investing in scam OTC pump and dump campaigns. I've explained this shit to you so many times you have most definitely lost your perspectives. You are dumping on this board where new interim traders are on the fence to get in. After reading your shit, I would t invest in this either. That's because most of you are not telling the whole story or simply don't understand what the company is or what the company is doing.
Everything starts this week. If you think this is Groundhog Day and you heard this all before- it wasn't from this fucking company. Probably OTC scan companies you have been involved with. The ONLY person you should attribute any truth based on the BS rumors you hear, should only be from the CEO. Not someone who whispers they have an inside track and they know. No one other than the company knows and those who call to find out.
Either you are an investor or a trader. You're both welcome but stop acting like soiled brats.
Yea, big problem. It assumes that Europe will be an early adopted, but I can tell you, at $50.00 a card, when they currently pay .20 a card, not happening.
1) The reverse worked and the stock is as stable as it can be - and got rid of a lot of bad traders that you have no idea what you were up against - they would have eaten this company alive, and your investments in it as well. They had already crushed the stock to .005 over the summer.
2) They retired 50% of their convertible debt and have all remaining convertible debt subject to "strict" leak-out provisions protecting you traders.
3) They voluntarily took a personal huge hit to increase the O/S shares to attract quality investment banking by locking ALL THOSE SHARES up for over a year - so traders can sell - NOT THEM.
3) They increased their revenues by 1000% in one test order, to determine the efficiency of their back end ordering processes making sure they can handle what they claim to be bigger programs from some of the 2016 sales programs they announced - including the doctor direct program.
4) The executives are accruing salaries while developing sales and marketing initiatives - NOT PAID
5) They waited for everything to be in place to maximize the value they created for the markets they serve, by waiting to bring the company out of the closet, and they just started - and they were specifically invited to present at SIDOTI - no other OTC company is even presenting.
The add all of the unquantifiables, such as a method to get to 1,000,000 share float without affecting the PPS - or YOUR HOLDINGS! They retained a real IR firm, not an OTC form for pump and dumps that would only serve traders benefits, not INVESTORS.
And to add insult to injury, some of you feel that the real investors, those who actually put hard dollars into the company, should be treated way worse than an unemployed bum, when YOU are in the position to sell and make money, and they can;t. Like they OWE YOU?
There has been a plan in place since the summer, and all I see is them taking slow and steady steps to reach that goal.
I am done with the lot of you. This is my last post, and unlike CHEEKY, I mean it. GLTUA those who see the value, I wish you all well. Those who don't, I hope you make out either way.
When is that a reward - you mean when they can sell them - NEXT YEAR? And just how locked up are the day traders? The note holders are also locked up - but they can leak out stock to retire debt, if the company doesn't pay them off first. Its only valuable if the company gets funding - then so would all of your stock here as well - only difference, you can sell. They can't. So its basically monopoly money - or do all day traders look into other peoples pockets from fear of past screwing's. They haven't turned on us or have given us 1 IOTA of a shred of evidence that they will sell - and now can't, so I don't get it, unless everyone just wants to to piss them all off. Makes no sense at all. I think everyone is focusing on the wrong things, we'll see if I'm right or wrong. Hopefully I am right.