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I have one. It works great and call the National Rifle Association. They endorsed and licensed the product and was made to their specifications. I personally sold 7 this past week. No complaints.
Hopefully the medical community catches on to this type of secure controlled access device. Also great for controlling who has access for narcotics.
For more info check out
http://www.nragunsafe.com/
TWO TEAMS started in 2005. Engineered, Tested and now ready for a NATIONWIDE ROLLOUT!!!!!!!!!!!
The companies assigned teams of specialists to the project.
On the Sequiam side, the team consisted of 15 people from the company's work force of about 60. Among them were 13 engineers specializing in the technology of using fingerprints and eye scans to control access to electronic devices.
The Black & Decker side was represented by its advanced development team — eight to 10 engineers from the 500 Orange County employees of Black & Decker's Hardware & Home Improvement Group.
Their specialties were locks and hardware, but their leader was Michael Maridakis, chief electronic engineer at the Lake Forest division, who was hired in April 2005 to spearhead the project. As a veteran of defense and medical-device industries, he was the liaison between the hardware experts of Kwikset and the biometrics experts at Sequiam.
"He could speak our language," says Sequiam's VandenBrekel.
The advanced development team for the local division of Black & Decker is responsible for planning and researching technology for future products. In 2005, that team's focus became the biometric lock.
"They look over the horizon, watching for something that no one else is doing, or something we can do better," says Eric Lundquist, director of brand marketing in Lake Forest.
CBS News features Sequiam Kwikset Smartscan!
http://www.cbsnews.com/stories/2007/02/08/earlyshow/contributors/dannylipford/main2448561.shtml
"They couldn't keep them on the shelves," Maridakis says.
Johnson, the trade magazine editor, says locksmiths are eagerly awaiting the new biometric lock.
"At the recent locksmith convention in Chicago," he says, "everyone was interested in it. Everyone was gathering at that booth."
Don't take my word for it. This info is coming from Black and Decker execs!
http://www.ocregister.com/ocregister/news/local/lakeforest/article_1631868.php
Ralphkaz: I agree and hadn't noticed Home Depot had the Smartscan on site at this point. HD must have added over the past few days as I check regularly.
The below site and link pretty much says it all. Coming soon and inquire and we will keep you up to date. If not for Knowles I guess we would not have known how far along we actually were in a nationwide rollout.
http://www.kwikset.com/
Good to see Smartscan on Home Depot website. The official date for rollout as announced by Black and Decker Kwikset was for June 1.
Would expect to see advertising on this in the coming weeks during May. Black and Decker spent huge amounts of money showcasing the SmartScan at the HomeBuilders Show in Orlando.
The manner they showcased the lock during the trial period has me very excited about what should transpire in the coming month.
Kwikset wouldn't have the Smartscan lock featured at the top of their homepage if they didn't have big plans for this.
http://www.kwikset.com/
Expect your Home Depot to know more about this product when product is made available nationwide. Expected in June. You are early to the party
The loan paid off the old loan which was with a Trust. The additional new money is for working capital. Actually it is a line of credit so the entire amount may not be drawn upon. However, the first $4 million refinanced the previous loan.
There is a difference between a loan an a line of credit. The entire loan may not be advanced. It is a line of credit. Do you understand the difference?
LaJolla is not involved with Sequiam. Why spread unnecessary lies?
LaJolla is not involved with Sequiam. Why spread unnecessary lies?
Pharmaceutical reps I've shown this too really like and one I talked to earlier this week with Pfizer is inquiring about becoming a reseller.
He feels several of the doctors he calls on would purchase one of these to secure prescription medication and he likes the idea he can control exactly who can get in the cabinet without worrying about a key accidentally getting into the wrong hands.
If you call Sequiam they will gladly explain to you the doors on the unit are made out of aluminum alloy.
I have one. Works great.
You overlooked something. You imply the only product that contributed to revenue was the Biovault.
Can you prove all of the sales you make reference resulted from Biovault sales.
Can you mount it in the trunk of your car?
"They couldn't keep them on the shelves," Maridakis says.
Johnson, the trade magazine editor, says locksmiths are eagerly awaiting the new biometric lock.
"At the recent locksmith convention in Chicago," he says, "everyone was interested in it. Everyone was gathering at that booth."
Don't take my word for it. This info is coming from Black and Decker execs!
http://www.ocregister.com/ocregister/news/local/lakeforest/article_1631868.php
NRA Product description.
And the below site is what?
http://www.nragunsafe.com/
They never removed it. Why start a bunch of lies.
Biovault featured on the NRA Home Page.
http://www.nra.org/home.aspx
NRA Website. Biovault featured on the NRA Home Page
http://www.nra.org/home.aspx
DeWalt Yellow. One of my friends bought the Yellow Black Biovault.
It is definitely DeWalt yellow. Like subsidiary of Black and Decker companies colors.
Biometrics could be added to DeWalt products very easily. A toolbox would be perfect with this technology.
Actually the word vault could be replaced with the word "safe". That might not be a bad idea as I consider it to be more like a safe than a vault.
The word "vault" I associate with a more heavy duty reinforced safe.
Safe and vaults vary in qualityon different individuals security needs.
Loan; My unit has sold 5 units. I'm not even a reseller. Maybe I should inquire about becoming a reseller?
It seems most of the marketing emphasis has been associated with handguns. There are additional marketing opportunities for the Biovault currently untapped for this type of safe storage device. I say the word "safe" as it is a convenient, controlled access storage device. More like a safe than a vault.
Actually the word vault could be replaced with the word "safe". That might not be a bad idea as I consider it to be more like a safe than a vault.
The word "vault" I associate with a more heavy duty reinforced safe.
Safe and vaults vary in qualityon different individuals security needs.
I'm glad you've done your homework. The Biovault I have has resulted in 5 additional Biovault sales in the past two weeks just to friends of mine after I demo.
A doctor friend of mine bought a white Biovault. Very professional looking on the wall and looks extremely high tech. He also bought the shelving kit. The markup on accessories to the Biovault are fairly high.
I think drug reps that call on medical offices could sell this very well.
It is alluminum alloy. The inside of the box that holds items is made of steel. If completely made of steel it would be too heavy to carry which is one of the benefits of this type of safe.
For the ones that question the functionality of the Biovault, I wonder if they also feel the National Rifle Association is not reputable.
Check this out.
http://www.nragunsafe.com/
Have you seen the Biobox Sequiam has coming out in June? The NRA has an endorsement on the top of the box?
Let me see what I can do.
Unlocking the future with a finger scan
Lake Forest team prepares for launch of biometric front-door lock.
http://www.ocregister.com/ocregister/news/local/lakeforest/article_1631868.php
"A concoction."
"Something like a doorbell."
That's how electronics expert Nick VandenBrekel describes his company's first attempt at constructing a door lock that opened with a fingerprint scan instead of a key.
The awkward contraption served its purpose. In 2004, it proved to his company, Sequiam Corp. of Orlando, Fla., and to its prospective partner, Black & Decker, that the idea of building a moderately priced biometric front-door lock was feasible.
"They had taken our Powerbolt and rigged it with their biometric sensors," recalls Dave Albert, vice president of brand marketing and business development for Black & Decker's Hardware & Home Improvement Group in Lake Forest. "We thought, 'Wow. They can do this.' As a concept, it had merit."
Such a lock promptly became part of each company's business strategy, so they teamed up to create a marketable version, combining Sequiam's experience in designing biometric scanners and the expertise of Black & Decker's Kwikset lock division.
Their shared development of the SmartScan lock, scheduled to go on sale June 1, is an example of companies acting decisively to prepare for what they foresee as the future of technology and the consumer marketplace.
VIDEO: Click here to see SmartScan in action.
"Biometrics we saw as strategically important for the future," Albert says. "It's not a question of if, but when mechanical keys will become obsolete."
TWO TEAMS
The companies assigned teams of specialists to the project.
On the Sequiam side, the team consisted of 15 people from the company's work force of about 60. Among them were 13 engineers specializing in the technology of using fingerprints and eye scans to control access to electronic devices.
The Black & Decker side was represented by its advanced development team — eight to 10 engineers from the 500 Orange County employees of Black & Decker's Hardware & Home Improvement Group.
Their specialties were locks and hardware, but their leader was Michael Maridakis, chief electronic engineer at the Lake Forest division, who was hired in April 2005 to spearhead the project. As a veteran of defense and medical-device industries, he was the liaison between the hardware experts of Kwikset and the biometrics experts at Sequiam.
"He could speak our language," says Sequiam's VandenBrekel.
The advanced development team for the local division of Black & Decker is responsible for planning and researching technology for future products. In 2005, that team's focus became the biometric lock.
"They look over the horizon, watching for something that no one else is doing, or something we can do better," says Eric Lundquist, director of brand marketing in Lake Forest.
NECESSARY FEATURES
The group's marketing and product management staff contributed its own advice, such as the new lock's recommended $199 price tag.
That puts it above Kwikset's standard $39 deadbolt lock and keypad-controlled $99 deadbolt, but far below other biometric locks on the market.
Competitors are offering "high-end commercial applications controlled by fingerprint and eye scans," says Gale Johnson, editor of the Locksmith Ledger trade magazine in Chicago. Prices for rival locks range from $500 to $750.
Black & Decker said the SmartScan lock needed to:
Fit in a door's standard deadbolt hole.
Be simple for a consumer to use.
Have no connection to household wiring. Making the system work for a year with four AA batteries required creating a "whole new power management system," VandenBrekel says. When it's not in use, the biometric system goes into a "sleep mode," with just a low-power monitor to wake up the system when a user touches it.
In October 2005, within six months of starting his new job, Maridakis, his team and the Sequiam team had developed what he calls "a working prototype with some functionality."
They could then debug it, improve it and test how well it functioned in different situations, including temperatures from 150 to minus 40 degrees Fahrenheit. During a year of testing, revising and retesting, the teams worked to make the system easier to use.
The control commands on the unit's LCD panel had seemed clear to the engineers, but the sales and marketing staff suggested changes to make them "more human," Maridakis says. The revised system allows a homeowner to name rather than just number the people whose fingerprints have been entered as authorized users.
Also, babysitters and housekeepers can be authorized to open the door only on specific days each week. Guests, contractors and others can be authorized for a specific period of time.
"If my teenagers aren't back by midnight, I can set it so they'll have to knock on the door and wake me up to get in," Lundquist says.
The scanner consists of radio-frequency sensors that are focused just under the outer layer of skin, so they work even with dirty or callused fingers
After that year of improvements, SmartScan lock was test-marketed last fall at 55 Home Depot stores in New York and San Diego and at 150 stores in Canada.
"They couldn't keep them on the shelves," Maridakis says.
Johnson, the trade magazine editor, says locksmiths are eagerly awaiting the new biometric lock.
"At the recent locksmith convention in Chicago," he says, "everyone was interested in it. Everyone was gathering at that booth."
Sequiam 10-K filed today; Paragraph concerning Biolock
BioLock
On September 13, 2005, we entered into a five-year, Exclusive Co-Operative Development and Supply Agreement with Black & Decker’s subsidiary, Kwikset Corporation. The purpose of this relationship is to develop, market and sell biometric enabled security door hardware and systems.
We, together with Kwikset Corporation, have developed the BioLock: a biometrically accessible door lock system to be applied to external and internal doors. Kwikset has since branded the BioLock the ‘Smart Scan’ for its introduction to the Home Depot chain of stores and other retail stores. The Smart Scan was introduced into Home Depot in a limited pilot program in November 2006 and is slated for nationwide release through Black and Decker partners in May-June 2007.
The system uses a Kwikset deadbolt and a biometric sensor with matcher developed at our laboratories in Orlando, Florida. When a valid finger is detected on the biometric sensor, it activates the remote control accessory module to open the lock.
The BioLock biometric module is a completely self-encapsulated device that incorporates advanced AC Capacitive biometric sensing technology. The technology can read through dirt and oil and overcomes many of the common ‘real world’ failings of previous biometric devices. The BioLock features a simple 3-step enrollment of fingerprints on the sensor and no computers or servers are required. The BioLock can hold up to 50 fingerprints and operates using either battery power or house low voltage power for at least 12 months average operation without the need to replace batteries. The BioLock features automatic detection of the bolt position and avoids the common issue of the consumer having to worry about the position of the bolt when they leave their home. The BioLock also features a user-friendly interface via an integrated LCD screen that allows users to be named and features such as automatic timing out of fingerprint records. The BioLock also comes with 2 keys for backup in case of battery failure, a low battery warning indicator and a lifetime finish warranty.
During 2006, we provided Kwikset with the biometric and electronic components of the BioLock and Kwikset performed the remaining manufacturing of the BioLock. Limited deliveries of the BioLock commenced during the fourth quarter of 2006. For the year ended December 31, 2006, revenues earned from the sale of the BioLock were $51,024. For the year ended December 31, 2006, revenues earned from the sale of the biometric and electronic components of the BioLock were $952,162.
In future years, we expect to earn revenues from the BioLock by selling the product, providing non-recurring engineering services and earning a royalty on non-Sequiam BioLock sales.
Fujitsu; From recent 10-K filing
OEM/ODM USB Fingerprint Scanners
We are currently working with Fujitsu Microelectronics, Inc. to develop OEM/ODM USB fingerprint scanning devices. These devices are designed to secure computer equipment that range from home and small office PC’s to enterprise level servers. Full production is expected to begin in July 2007. Sampling production began in March 2007. For the fiscal year ended December 31, 2006, we had no revenues from the sale of the OEM/ODM USB Fingerprint Scanners.
Been out of the office all day. SQUM is a sleeper. Nice to see for some reason several want to bring a little life to the board.
However, I see several that really don't know what they are talking about.
Heard the product was well received at the NRA Convention in St. Louis. 200 resellers is formidable for increased sales in the 2nd quarter resulting from the Biovault.
For the ones looking for the lock at Home Depot, the official nationwide rollout is expected to start in June.
I tried to order a biolock directly from Sequiam yesterday and they were on back order.
I feel everything is starting to finally come together.
Watching
House Money!!
Looks like another breakout coming. Be interesting to see how hearings unfold and deal on future financing.
Concerning the beat with a hammer and questioning quality?
The BioVault™ is constructed of heavy-duty 12-gauge steel.
Above from recent 10-K
My interpretation from the 10-K was the revenue numbers should begin to reflect in Q2 but should be full speed by Q3 and Q4 coinciding with Xmas which could be very nice especially with possible other new products additional to the Biovault and Biolock.
Also, the New version Biobox-007 is pretty impressive and should be available in June. http://www.sequiam.com/products/biobox/
I thought the 10-K pretty well explained a potentially good business plan going forward and expounded on the past as well.
Next couple of months should be interesting
Market for our Products and Services
From Recent 10-K filing
The year ended December 31, 2006 was the first year we had significant sales from our primary biometric products, the BioVault™ 2.0 and BioLock. During 2005 and much of 2006 our time was spent acquiring, developing and preparing these products for sale. Our revenues for the year ended December 31, 2005 were primarily derived from secondary products and services such as web hosting and collocation services, internet remote print software and web and custom software development. The National Rifle Association has agreed to actively market the BioVault™ 2.0 and Black & Decker’s subsidiary, Kwikset Corporation has agreed to actively market the BioLock, both at no cost to us. Market estimates for the sale of the BioVault™ 2.0 and BioLock were provided to us by the National Rifle Association and Kwikset Corporation, respectively. In addition Analog Devices, Authentec, Fujitsu Microelectronics, Inc., Arrow Electroincs, Inc. and others are actively marketing our technology using Universal Biometric Interface demonstration kits provided by us at minimal cost.
We are targeting sales of our biometric products primarily to leading suppliers in manufacturing and distribution of safety and security products.
Distribution of our Products and Services
Two of our biometric products came to market during the last six months of 2006 after a lengthy development period. We intend to sell our biometric products through “Value Added Resellers,” distributors and marketing alliances and through our own direct sales efforts. We will also license our technology to manufacturers who wish to incorporate biometric technologies into the products they make as we did with Black and Decker’s subsidiary: Kwikset Corporation. On September 13, 2005, we entered into a five-year, Exclusive Co-operative Development and Supply Agreement with Kwikset Corporation. The purpose of this agreement is to establish the business relationship between Kwikset and us in respect to the development, marketing and sales of biometric enabled security door hardware and systems, including our BioLock product.
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Table of Contents
Value Added Resellers. We plan to continue to form additional relationships with Value Added Resellers. Under a typical agreement, the Value Added Reseller will sell our products in conjunction with their own products. In some instances, a Value Added Reseller might convert our products to their own private-label.
Distributors. We plan to form relationships with distributors that have experience selling technology products in geographic areas where we do not have a physical presence. We currently have a rapidly growing distribution network for our biometric products that includes over 100 retail stores and a number of distributors. Some of the resellers include Sportsmans Market, Inc, Earthtec, Pacific Supply Group, Zurich Products, Keylock LLC, RDG Barcode America, SmartHome, Inc. and Lowry Security Group. The distributors include Davenport Sales, Fulcrum Biometrics, Arrow Electroincs, Inc., Sporty’s, The Artemis Group and RSR Group.
We have an agreement with the National Rifle Association to help distribute the BioVault™. The National Rifle Association acts only as a sales agent and will not purchase any of our products directly. The original BioVault™ price points were too high for the National Rifle Association to commit to selling the BioVault™ to the desired degree. BioVault™ 2.0 includes a 52% reduction in the cost to manufacture the product. This allows us to set the MSRP of the BioVault™ 2.0 to the level desired by the National Rifle Association. Shipments of the BioVault™ 2.0 commenced during the last six months of 2006. The National Rifle Association will offer our BioVault™ 2.0 in its online store and catalog and will market the product through its instructors. For the fiscal year ended December 31, 2006, we had little revenue from this relationship because the National Rifle Association had not completed or commenced its overall marketing plan. The National Rifle Association expects to accelerate its marketing efforts sometime in 2007.
More info from recent 10-K filing
USB Fingerprint Sensor (CMOS II)
This sensor is designed for integration into products such as notebook computers, stand-alone USB fingerprint pods and other products that require an added degree of security. The CMOS II is designed to be a low cost consumer oriented solution for mass market products. The CMOS II was acquired in an exclusive technology licensing agreement with Tacoma Technology, Inc. of Taipei, Taiwan in which our resources would be utilized to complete the product offering.
The devices will be offered with two fingerprint sensors, one from Tacoma and a version from Fujitsu Microelectronics America (FMA). These devices will be fully supported by our (and third party) SDK development kits allowing the ability for software developers to develop robust applications using these fingerprint devices. We experienced various engineering and pre-production delays with the CMOS II project. For the fiscal year ended December 31, 2006, we had no revenues from the sale of the USB Fingerprint Sensor. Small scale production of the sensor is expected in April 2007. Sample production began in December 2006.
Fujitsu; From recent 10-K filing tonight
OEM/ODM USB Fingerprint Scanners
We are currently working with Fujitsu Microelectronics, Inc. to develop OEM/ODM USB fingerprint scanning devices. These devices are designed to secure computer equipment that range from home and small office PC’s to enterprise level servers. Full production is expected to begin in July 2007. Sampling production began in March 2007. For the fiscal year ended December 31, 2006, we had no revenues from the sale of the OEM/ODM USB Fingerprint Scanners.
Sequiam 10K filed tonight after the close.
BioCareTrack (HCB)
BioCareTrack was specifically developed for the home healthcare market and allows providers to verify health care visits, track treatments and eliminate fraud. The system functions as described below, however, it can easily be modified to accommodate specific procedures and work flows. The system is entirely automatic and only requires the caregiver to enter a code and touch the sensor, once the patient touches the sensor confirming that care was given, the transaction is completed.
According to the National Association of Home Health Care, there were over 7.6 million Americans requiring home healthcare in 2005. This is a large market and growing larger each day as the baby boomer generation grows older. On September 13, 2005, we signed an exclusive distribution agreement with Kelimo Incorporated for BioCareTrack. For the fiscal year ended December 31, 2006, we had no revenues from the sale of the BioCareTrack. Production of the BioCareTrack began in December 2006 with first deliveries expected during the second quarter of 2007.