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I think you misunderstand the focus of the lawsuit. It is not about "the card" which SMME will produce. It is about the connection ANY AND ALL debit/credit cards now in existance make between the terminal being used and the network to complete the transaction. The basis of the damages is predicated upon MC/V using the patent to complete transactions without compensating SMME for it. Being a revenue producing company is immaterial. Had MC/V be honest, SMME would have been a revenue producing company....that is why the damages are being asked for.
It also, I think, has been make clear that the expense to produce the card is beyond the capability of SMME present day funds. Thus, going ahead with the MedicalKeyring, which is less expensive to produce and which an announcement will soon be forthcoming, IMO, about a distribution network for it, will give SMME the funds to proceed with the production of the card.
The three issues(litigation; keyring; card) now occuping Chaya's attention would give any regular person reason to drink...a lot!!! Thus I would hope, we DO NOT add a fourth issue to preoccupy her mind and attention with by constantly calling upon her to answer our questions to which she is well aware of and will deal with and will announce to us any and all information she is able to regarding those questions....
Let's all take a deep breath, have faith and trust, and enjoy the banter between fellowshareholders about their flirtaious relationship....really. Let's give Chaya some piece of mind and let her deal with the important issues at hand... Let's spend our time dreaming about what we will do with our newfound funds when they arrive.....I will be paying off most of my mortgage with it.....
Yes, you are correct. I stand corrected.
YES...I should have read your post before I posted the same thoughts....
I do not think 5 million shares added to 140 milllion shares (3 1/2 %) would effect much of a change in price.
Also, Chaya's comment re: sufficient funds to go ahead with the medical key seems incongruous with the balance sheet numbers.
Finally, on the conference call Chaya mentioned "being beat up" over the price agreed to...$.16. At that time it seemed "worth it" to do the deal. Now it does not.
My deduction: talks in the offering and it will include the bimetric card....
Fellow soon-to-be-richer people: One issue and piece of this litigation not yet mentioned nor included in the equation is the future biometric card. It is a money maker to all credit card companies because of its ability to protect them from HUGE losses. I think we, or they, would be dumb not to believe that along with the patent infrigment talk is included conversation regarding the future incorportion of this card into the credit card arena.
What dynamics would be different if, for example, VISA was able to acquire the card and M/C was NOT?
I cannot believe that V and M/C are not including talks about this issue along with litigation talks. If so, any agreed to settlements, be it cash or stock, would be agreed to be paid immediately and would not, as in standard cases, be appealed and received long down the road.
Seems to me if one has BILLIONS in the bank from an out of court patent infrigment settlement one DOES NOT need to get other people's money....what do you think??
Let me speculate....DON'T NEED THEIR MONEY. We'll be getting our own!!!
hope you read post ..57. Court rules FAVORABLY for SMME. NOW come the negotciations.....Price will move up from here.
Chaya...THANK YOU for the great news...looking forward to the days ahead.
Geth...Really?? Are you willing to risk 2000% gain (20x profit) for a 6-8 cent POSSIBLE, BUT MAYBE IMPROBABLE purchase price. Cramer says, get into a stock with some of your money. IF it goes down you can buy more. IF not, then be content with your gain. I would have you follow this advice.
When this stock goes from $.45 to $10 and you have nothing in it you will wish you had paid $2/share for it.
And remember, SMME does not react to the movement of the general market...only word, both true and false, regarding the company. SOMETIMES people have to sell at any price. But if you look at the history of this stock you'll see the price stays at relative levels. It stayed at $.20-.25 for a long time. Then the damage amount came out. It popped to $.43-.45 since then. It will stay there unless some HAVE to sell...but you may not be able to get it at $.37 even if it hits that price...others may be infront of you with limit purchases already waiting.
Here is what I told Chaya on the conference call...."I want to thank you for allowing poor people an opportunity for a nice retirement." $.45 cents is NOT a bad price to pay for this stock....do consider it SOON.
Price sat at $.25 or so for months. When the damage amount was made public it doubled in price. It has held around $.43 for weeks now and I doubt that the price will be much lower than it is now. Word is an out of court settlement could come before the end of June. Rumors of it will send the stock price up quickly. V/MC have stated they do not want their "trade secrets" made public. A trial will make them public....thus the idea of an out of court settlement. The judge has told all parties the trial will take place in Sept, 2013, if no settlement is reached before. Every Billion in settlement talks will give SMME $5/share...figure standard lawyer's fee is about 1/3 or so of settlement. With about 140 million shares O/S $600 million divided by 130 million is about $5/share. This stock could jump to $10/share or more over night.
If you are interested at all, BUY IT NOW. Financials are meaningless at this point. The litigation is what is driving this stock at this time. Once the settlement is complete, the products will certainly enhance the stock price. Winning the suit is about 95 to 5 in my humble opinion. In April of last year the Federal Appeals Court ruled in favor of SMME as to the use of cards and their infringment upon the "patent 464" which is owned by SMME.
The risk/reward is no better in any other stock than here....Good fortune!!!!
Geth...did you take some profit on the Geth runup? I agree, any price below .004 would be great....and don't forget to buy a little SMME...:)
Thanks for the personal info. But I wonder why Epic would be talking about developing a program to compete with QUTR and still be in the market of selling QUTR? Seems like cross purposes to me.
Don't understand your comment regarding Truth and not believing it. What truth are you refering to?
The fact that Visa alone, and not Mastercard, have an ongoing fund for future lawsuits has nothing to do with my comment regarding the non-reaction to the Wall Street Journal article. Just because they have a fund for such activity does not preclude shareholders' interest and reaction to a $13.4 BILLION litigation.
Hello Chaya...Always glad to hear from you. However, with all that is going on with SMME I am concerned that you are not getting enough sleep. Up at 1:30 in the morning to help your shareholders calm their fears is admirable...but do rest up. The days ahead will require you to be at your best. :)
I would call everyone's attention to Wall Street Journal, April 18, 2013, article re: this litigation. It is a reprint of Chaya's statement re: the damages in this suit. I am REALLY surprised that it caused NO response from the public, especially from V/MC shareholders who MIGHT have asked some quesstions of their boards....
Cant reply via private for some reason...not being a member maybe.
Seems Geth is doing quite well today!!
all my money, which is very little, is in Qutr and Smme. What is the time frame for Geth? Can't buy until either of the above make a significant move...
Soon is now to 6 weeks. Out of court settlement is the "talk". Once they begin, based on the same thing about January, 2011, the stock will pop. I'm guessing to over a dollar...then more once the final amount is known could be over $6/share....and after this, Discover and American Express, and maybe the big banks will settle or be sued. I've been in this over 3 years and following daily. This is real and explosive!!
Read up on SMME...and do it quickly. This penny stock could turn into a dollar stock very soon.
Add my name to the list of those who hope to put gains from one stock into this one....I bought some at the high of $.034 some time ago...but still expect to profit from that transaction.
Are you asking/inferring about the probability of an out of court settlement?
Chaya...thanks for the updates and responses. As people "not in the game", but sitting on the sidelines, I can understand some people's concerns as they read the defendants comments. But truth is truth, and your reassurances put the light on it. This stock is a once in a life time event. Thus the apprehension. Many of those I mention Smartmetric to shake their heads and walk away in unbelief...a penny stock going to a dollar stock in months....due to a fight against Visa and Mastercard. Don't believe it, they tell me. Their loss...I remain a believer!!
Thanks for the info. Always good to know what the other side thinks. At least now the silence is broken on both sides. I trust more "noise" to come.
As for the "outdated" product...recall Chaya mentioned issues that we have overcome and others have not in the production process. Others may be out there...but ours will be the superior product once we begin to produce them.
Time to buckle up!!!
So how would that affect SMME? or does it just open up Visa for some stockholder lawsuit?
What might that imply???
Thanks for the good news. I see this ending before then....:)
Thanks for the information
Hey, being young is to your advantage. You'll have a lot more time to add to your position and enjoy a longer "good life" than those my age...60+. I'm just hoping it all happens soon so I can pay off my mortgage and enjoy SOME of the "good life" in my waning years...and be able to hire someone to push me around in my wheelchair.
I have been into the market for over 40 years and SMME is the kind of stock one buys for pennys, holds for a very long time, watch as its stock splits and splits, and then live off the dividends which will come later. A handfull of stocks are in this catagory. They come along twice in a lifetime....
Few stocks have the potential to add to people's wealth in such a short time as SMME...the lawsuit; and the products. It all adds up to a very good life... starting soon. Take advantage of this time and buy more.....
It's long gone... It's now an industrial park. They paved over it some 8-10 years ago. If they had asked me I would have suggested they leave a small part of the track and put plexiglass over it for people to view and remember.....but they didn't ask me.
Do you complain about Christmas coming only once a year, too?
Some lawsuits take over twice as long as this one will take. Some companies don't even reach sales of $10 million in their lifetime. SMME has TWO products with potential for HUNDREDS of millions in sales for each product...and the possibility of a lawsuit adding hundreds of millions, and possibly over a BILLION dollars to its balance sheet.
SMME gives its investors a chance to go beyond the moon and reach the stars.........and you have "thin patience"? Sit back and buckle up....enjoy the ride because you will probably never get another opportunity to acquire wealth like you will in SMME.
And make sure when it happens to thank Chaya for the opportunity given you..... Now go back and dream of what you will do with your new found wealth.....
Why does everyone believe in the axiom: Buy low...sell high, but are afraid to buy low?? Obviously the risk is great here without revenue...only the hope of revenue. But it seems to me that in 6 months many will be wishing they had bought low..... If the trials are indicative of what this product can do then patience and stock in this company are the only commodities one needs....Let's talk again in 6 months.....
here's something to remember: alligators; swamps; humidity; BUGS; and oh yea, hurricanes....come to your senses!! :)
How long since you relocated? I will say that the best beach I ever visited was on the Guld side of FL, near Tampa Bay. White sand, powery, flat, and hundreds of feet of it before you got to the water.... No beach in CA compares... I've been 3 years into SMME, this is the year we will all know how much the wait was worth....
Buying this stock now, I think, beats buying a surfboard!! If all goes well, you may be able to buy your own surfboard store. :) Why would anyone move from S CAl to Florida???? Just a personal thought....
Was not aware taxes were paid on court settlements....
The Federal Appellate case was a split decision. The lower court had ruled completely in V/MC's favor. The appeal reversed part of that lower court decision. That decision, as I understand it, favored SMME regarding the activity of card users as they made the connection, when INSERTING the ATM/debit card, from the terminal being used to the account connected to the card. Thus saying: IF the Patent holds to be valid, this activity infringes upon it.
IF the patent is held NOT to cover this activity I would suggest to Chaya she ask for her money back which she spent on securing the patent.... :)
What went against SMME was the same activity but rather than inserting the card, the card is waved/passed over the terminal rather than being inserted.
My guess/confusion regarding this trial ahead is for the court to determine whether or not patent "464" is valid and covers the connection process between terminal and cardholder's account.
That's how I understand it. That's why I believe SMME will receive a summary judgement in its favor and the price will rise quickly with only a $ amount to be determined...which will be large. MY ADVICE: open a Roth IRA and buy SMME in it....all the profits will be TAX FREE when you reach age 59 1/2 and can take out the money without penalty!! :)
Any ruling in SMME's favor is good
My apologies to you. Did not mean it to be a slap in the face, only thought you'd be more explanatory regarding the info. I am one who does appreciate the pacer info... and hope that you continue to inform us with the up to the minute information. Sorry...
and your point?? I would expect MC/V to do what they did. If they had not done so we would be looking a done deal and out of court settlement talk...