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Is it confirmed that he succeeded in his quest for custodianship?
What exactly does Lazar do once he has control of a company? Does he fold it into a similar company; find a buy for the "assets"; sell the company to the highest bidder; revive the company and move forward with the business?
Given the history of such moves...is it better to hold shares until after the merger/folding into another company or sell shares before it?
After over a decade of hope and disappointment this is exciting. I was a young man when I started to accumulate shares in QUTR...now as an old man I'm hopeful to have a return on my investment.
And Form 15 is what and means what?
I would direct you to my comments on the ACCRUED METHOD OF ACCOUNTING.
View the Liability section of the Balance Sheet. You see the amount of Officer's Salary under the Liability section--Liabilities are amounts due to be paid but NOT YET PAID--increased by $130,000 year over year. (And given the amount due the her she has not been paid in years.) The remainder of the $60,000 the CEO is paid--which would be for taxes, possible health insurance, SS taxes--would be listed elsewhere.
THE CEO DOES NOT TAKE HOME THE AMOUNT OF HER LISTED SALARY...Very little of any goes to her.
See post #13031 for a logical and reasonable understanding of the CEO's financial situation in SMME.
The decrease of $105,573 or 15.4%, in 2019 compared to 2018 was primarily the result of a decrease in consulting expenses.
Our general and administrative expenses consist primarily of expenditures related to employee compensation, legal, accounting and tax, other professional services, and general operating expenses.
The above is from the MarketWatch website referring to, and perhaps copied from, the most recent SmartMetric 10-K.
REGARDING THE DOLLAR AMOUNTS FOR GENERAL AND ADMINISTRATIVE EXPENSES:
In the world of accounting there are two ways of reporting a company's financial situation: 1) the Cash Method--the company writes a check (a credit or reduction from a Balance Sheet item) and the account to which the check is written, let's say Salary, gets charged (a debit or increase in an Income item.) That seems to be your thought here.
2) the Accrual Method--here the company incurs an expense or cost to the company--such as salary. However, there is NO check written, perhaps there is no cash to pay the salary. Under this way of reporting a company's financial situation, which is required for all or many reporting companies, the Salary amount (General and Administrative Expenses in the case of SMME) gets charged as in the Cash Method. The Income statement thus shows an increase in General and Admin Expenses. But since there is no actual payment, the amount due for the salary becomes a Liability and is then Credited on the Balance Sheet as due to the employee.
BOTTOM LINE: SMME is NOT spending as you state. NO ONE is living on $1500-$1800 a day. And much of the amount stated as General and Admin expenses goes not to the CEO but to lawyers--you know what they cost-- accountants and other professionals.
You get my vote of logical and reasonable deduction of thought.
again...the card of 2015, is NOT the card of today.
This will be my last and final attempt to describe the distinction between what I hear you saying and what I am trying to describe with this issue:
You see a car dealership. It has hundreds of cars on its lot. They are ready to drive, completely finished in their development. What each car needs is to be purchased and driven away. The FACT that they sit on the car lot and have not yet been purchased and driven away IN NO WAY affects their status of completion nor availability for purchase.
It seems to me you are blurring the lines between availability; product ready and useable; AND the fact that no one decided to purchase the item at that time. AND non-purchase could be for many reasons other than disinterest in the product.
Enjoy the profit you make from your investment...I know I will.
I still trust you will enjoy the money you make off of your investment in SMME.
And though your words regarding "pennyland" and the money one can make off of selling shares may hold true for some it seems to me one can do much better and make more money building a company and reap the benefits of doing so.
I addressed this issue when it first came out.
Google the business definition of a SALE.
Three things need to take place for a sale to be complete:
1) An offer needs to be made. We did that by offering the SMME Card for the university's use.
2) An acceptance needs to take place. That also took place when the university agreed to the terms of the offer.
3) An exchange of value needs to take place and delivery of the item offered and agreed upon needs to take place. Don't know the details but either the university has not carried through with the value agreed upon; or the cards have not yet been delivered; or perhaps the university was given a heads-up on the future development of the SMME card and decided, along with SMME, to delay acceptance of the card.
Bottom line: The SALE was most likely never completed, only delayed.
I addressed your idea of "complete" in a previous post. But I'll try again: There could have been a 'completed" card ready for production...NOT the card of today but a useable card. What needed to take place was the OK of a network company which would allow the SMME card to be used on its system. That took more time to complete.
I really can't be more clear that this. The card could have been complete and ready for mass production. There is nothing false or incorrect about saying that. Perhaps you are hung up because no sales were generated...
It seems reasonable to see that a card could have been ready for use on our end needing only the OK for its use on a network.
That would be your opinion...and the opinion of others.
I choose to understand that in business success is not a straight line, but rather travels a curvy road. Decisions made don't always turn out the way one might believe they should turn out or are expected to turn out. (Case in point: the newly installed policy of China to have batteries certified before exportation. That UNEXPECTANTLY added over half a year to any time line projection.)
Nonetheless, I hope you are happy when your investment returns to you more gains than you ever expected.
NO...If you have ridden the "train" of SMME for the last 15 years as I have you would know that the completed card of years ago is not the same as the completed card of today. Years ago the card ready for production--but not yet authorized for use on a network--required a charger at home to build up the power to use the card. So, while the CEO was diligently working to negotiate the use of our card on a credit/debt network, there was also foresight on her part to continue to improve the card.
AND if anyone believes there were fraudulent statements made either on PRs or SEC filings then rather than taking to posting their views and criticisms on boards such as this one--and possibly making false statements themselves about the company and the CEO--they should have contacted the SEC and filed proper paperwork for an inquiry.
I have never tried to develop a biometric card that uses a fingerprint scanner to active the card, which is operated by a patented battery which will last up to 9 years, that fits into a credit/debt sized card.
My educated guess is that it probably would take up to 15 years of more...
How long do you say it should take??
I don't know why I do this to myself.
Again I ask the question: If all SMME did was to buy the Advantis chips why would ServiRed allow their reputation to be dirtied by associating with a bogus company which in no way benefits them (ServiRed) other than the sale of EMV chips?
NO, rather the relationship established between SMME and ServiRed via the use of the Advantis chip is more than a purchase agreement. It establishes a "partnership" like business relationship allowing any entity which chooses to purchase the SMME card with the Advantis chip to avail itself of the opportunity to use the Advantis payments network with the highest level of security available in a credit/debt card.
Your quote says exactly that: the chip allows use on its "OPERATING SYSTEM".
Perhaps to some having the Advantis chip embedded in the SMME card means little...but the truth is having the Advantis chip embedded in the SMME card means future sales of the SMME card are possible, I'd say highly probable.
How much time do you think it should take to develop what SMME has developed?
Time is a variable factor based upon the subject matter.
I guess Advantis is in on the conjob then. Invite someone to promote a credit/debt card at your Payments and ID Conference that does not exist. Make itself a fool and destroy its reputation before hundreds of industry people and involve the 100 or so banks associated with itself (ServiRed).
As for the need for an extra level of security: Articles have been printed for years stating that very need. Pins can be stolen and hacked--it happened to me; people I know have had their credit card information stolen out of the air from their "PASS AND GO" card. Most certainly a higher level of security is needed and SMME, I believe along with many others, has developed a credit/debt/ID card with the highest level of security in today's market.
Time will tell who has been telling the truth and who has been telling false informatio
That's my point! So much talk about payments via a phone and the belief that the credit card was going extinct. Yet here is APPLE entering the credit CARD arena.
Yep, it's confirmed. Saw it again last night on Monday Night Football.
If the store does not accept Apple Pay then use this...the back of a CREDIT CARD is shown, complete with 16 numbers and a picture of the card holder. The CREDIT CARD is then turned over which shows an EMV chip and the APPLE logo on the front of the card. One is instructed to visit the APPLE WALLET for the card.
What might this mean? Does even APPLE see a market in the CREDIT CARD MARKET??
Ignoring the incorrect comments to my previous post I want to say that I MAY have misunderstood the commercial. Stay tuned...I'll pay closer attention in the future
Watching one of tonight's football games did I see an ad from APPLE touting the use of APPLEPAY...followed by a picture of an APPLE CREDIT CARD with the comment: And if the store you are shopping at doesn't offer APPLEPAY you can use this. That's when the APPLE CREDIT CARD WAS SHOWN. Seems to bode well for the credit card industry of which SmartMetric is a part of.
Tell that to Ford Motor Company. Not everyone wants or likes vehicles made by GM.
Others ARE in the market to develop a similar card. Surveys show many will use such a card. The world is NOT a one product environment. AND if my memory serves well our card also has the capability to active, swipe and go...
Wondering, genius...how long does it take to create a first of its kind product? One that will be used the world over, made up of hundreds of components, one that will last years, and include newly created components as well?
If you could do it in less than 15 years you should have...
I only know what I read from the PR's and the company website. It is there that a joint announcement of the relationship was stated.
Well....those words came from the 1/30/2019, Form 10-Q of Apple--yep that Apple company. Would your advise be the same for investors of Apple as it is for SmartMetric??
EVERY public company that releases information to the public adds a disclaimer to the information released to protect themselves from liability due to a misprint or unintentional misinformation.
Those words DO NOT infer lying or investment advise.
The following description of risk factors includes any material changes to, and supersedes the description of, risk factors associated with the Company’s business previously disclosed in Part I, Item 1A of the 2018 Form 10-K under the heading “Risk Factors.” The business, financial condition and operating results of the Company can be affected by a number of factors, whether currently known or unknown, including but not limited to those described below, any one or more of which could, directly or indirectly, cause the Company’s actual financial condition and operating results to vary materially from past, or from anticipated future, financial condition and operating results. Any of these factors, in whole or in part, could materially and adversely affect the Company’s business, financial condition, operating results and stock price.
The following discussion of risk factors contains forward-looking statements. These risk factors may be important to understanding other statements in this Form 10-Q. The following information should be read in conjunction with the condensed consolidated financial statements and related notes in Part I, Item 1, “Financial Statements” and Part I, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Form 10-Q.
Because of the following factors, as well as other factors affecting the Company’s financial condition and operating results, past financial performance should not be considered to be a reliable indicator of future performance, and investors should not use historical trends to anticipate results or trends in future periods.
Are you saying that words like those above are a warning NOT to invest in the company or at least NOT to trust what is said in the PR?
Perhaps you missed the part about the "network" and the 100 banks associated with that network. A network which Visa and MasterCard allow to be used on their network. This was the needed piece to the progress of selling The Card. With that now established let's see how things develop.
Yep...guess they must just take the first 35 who apply.
SMARTMETRIC ADDING ADVANTIS CHIP AND OPERATING SYSTEM
1.3 BILLION ADVNATIS CHIPS IN ISSUED CREDIT CARDS
100 BANKS GLOBALLY
Chaya Hendrick, President & CEO of SmartMetric has been invited to speak at the Payments Summit in Phoenix, Arizona March 11 - 14
Talk Subject: Biometric Credit Cards
SPEECHLESS!!
You mention MasterCard...any mention of Discover? or Visa? or Am Exp? or any of the foreign networks?
Did you know there may be multiple networks out there which may be involved in similar product development and testing as Gemalto? Or perhaps these other network companies have a product in mind and will soon begin to test it. Stay tuned...
One does not have to be first to be the best...
Anyone know why the recent activity here?
One buyer spent $11,000 today on SMME stock....foolish or on their way to a fortune!!
No PR's for about 2-3 weeks. Wonder if something BIG is about to take place.....
Sales Accrual Journal Entry
Sales revenue is earned when your customer takes possession of the goods.
Google it...Sales revenue may not be reported by SMME until the university receives the cards....Payment may be at that time or after.
Reported in the footnotes....not a show of revenue, YET. Just pondering the possibilities...
I see it more like this: A person goes to buy a pair of shoes. He finds a pair and tells the salesman, "I'll take these." The salesman tells the customer to pay for the shoes at the cash register. The salesman tells his wife, "I made a sale."
ONLY after the transaction is complete, after the person pays for the shoes, is it truly a "sale" on the books of the company.
It could be the "sale" announced by SMME is at the "I'll take these" point in the transaction. Cards may not yet be delivered in the quarter the "sale" was announced so no revenue may be reported until later, cash or accrual method used. Value needs to be exchanged for a revenue to be reportable.
(I believe only expenses are "accrued", not revenue.)
I think visitors to this site need to know that each person speaks for themselves...as far as I know.
My comment to the "launch" is only my belief of what Duke wrote. I was responding to someone's comment regarding Duke's use of the word "launch".
The English language has multiple words to express one's thoughts. Some words are more descriptive than others.
Let's see what Sept brings.....
The "launch" is the availability of the newly developed "all-in-one" board for The Card. Appears buyers have been waiting for this development.
Hopefully this response to your inquiry will meet the standards to remain on the site so you will have an answer to your concern.
What is EPIC is the development of The Card as it was announced in the August 29,2018, PR.
The 'where' and the 'when' of the 'launch' I do not know. I believe the "what" referred to is what is stated above in my comment.
Well, maybe because "no-one actually reads the press release" could be the reason "no-one" is aware of the "launch/release" of the newly redesigned internal board for The Card.
EPIC !! Truly EPIC !!