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You still have no proof that an announcement that Fujitsu deal launches next week Monday (now it's next week...), care to state why you are so certain?
I deal in facts and data bc if not you are just gambling / hoping for a return based on faith. Show me a successful long term investor that doesnt base his/her investment decisions on data, trends, facts, i.e. tangible based evidence.
my comments below----
"FACT, there was a large company sniffing around back in August who wanted to make a strategic investment and could be back at the table "
MY RESPONSE... You use the word "COULD" this is speculation.... many companies do DD on companies they target for acquisition (which is something I do in my role, and many companies decide not to invest or acquire the company)...
FACT, there are 2.3M shares short from $1 who will likely get bought in soon and send this to $4
MY RESPONSE - Yes fact short interest is up.. http://www.otcmarkets.com/stock/IWSY/short-sales
however you have no idea what price this will drive to let alone $4 is pure spec.
I've sold 55% of my original position, and will see how this volume plays out and whether real news lands to prop up the price..
That is bs, you are speculating, it doesnt say first or second week in Jan... it say in first qtr... I work in facts, and data, not rumor... I hope it is announced soon as the volume would indicate something is coming but then again who knows.... many times these partnerships have been delayed time and time again..
"Finally, we are particularly excited about Fujitsu's announcement of a federated identity system. The implementation plan is being completed, and a proof of concept is scheduled to be delivered this month to a customer that, for the moment, needs to remain nameless.
Our expectation is that this project will go live in the first quarter of 2018 and have a significant positive impact on our company as it will involve, when fully deployed, millions of users with well known companies.
"So we are kind of looking at -- what I understood from Fujitsu just very recently was in the first quarter of 2018. And that appears to be the date that we are now working with, and nothing why that -- nothing as far as we know that doesn't make that realistic.
https://seekingalpha.com/article/4123965-imageware-systems-iwsy-ceo-jim-miller-q3-2017-results-earnings-call-transcript?part=single
Without news of a real revenue driving event, shorts will cover and we will be back in the 1.50 or lower.. we need a contract ... not a proof of concept bs PR
Yes correct this time it is run by Fujitsu on the dedicated sales and enrollment side but IWS will still play a huge part. Fujitsu leading gives some confidence to this but again Leidos has had IDHaystack that they have sold zip on and IWSY is in the background with Leidos in the lead
Where the hell do you get next Monday launch? That is pure speculation..
I'd read up on what a proof of concept is... a company could take many months to over a year evaluating the technology and at the same time competitors tech and then not decide to go with IWS. I hope that finally things are changing but same broken record has been playing since IWS tried to transition to enterprise / private sector.
"Jim Miller
Yes, no problem. Thanks for the question, it's a good one. Indeed, when it was first announced by Fujitsu, that was the working time frame, it was the Q3. I think we've said it before, in fact I know we have in a prior call, there's a lot of moving parts here, only one of which is us. So, there's a number of factors that have all had to come together. And when you've got a -- we've all seen it in our lives, when enough people are in one room, things tend to slow down because everybody's concerns need to be voiced and be heard and be understood and sometimes even acted upon.
So that's no different in this situation, but we are moving forward. As I said in the remarks before the questions, we are scheduled. There's an implementation plan that is now final. We are scheduled to deliver what we call, a proof-of-concept working product. So what that means is -- and again, not just us contributing to do that, there are number of other companies that are supplying product to it. But what that means is the ability for the people who are using it to kind of check it out. See that they're getting what they expect to be getting, and all those things take a little time as well. And a little more complicated because you're headed into that time in the world where there's holidays and all those things that, well, like it or not, need to be accounted for.
So we are kind of looking at -- what I understood from Fujitsu just very recently was in the first quarter of 2018. And that appears to be the date that we are now working with, and nothing why that -- nothing as far as we know that doesn't make that realistic.
FYi miller has not hit any estimate in regard to enrolling users... as much as i would like to see this it is a Proof of concept and will take years to enroll large numbers of users... it is just the way it works in tech, it isnt a on button, and will take months to get even hundreds of thousands of users enrolled.
"NOV QTR Transcript
Finally, we are particularly excited about Fujitsu's announcement of a federated identity system. The implementation plan is being completed, and a proof of concept is scheduled to be delivered this month to a customer that, for the moment, needs to remain nameless.
Our expectation is that this project will go live in the first quarter of 2018 and have a significant positive impact on our company as it will involve, when fully deployed, millions of users with well known companies.
"microcaptrdr24 Wednesday, 12/27/17 12:21:22 PM
Re: subslover post# 1695
Post #
1697
of 1705 Go
Fujitsu deal begins in january and starts enrolling people for new security product
Should do over $20M in revenue in 2018
I would hold the high fives a bit. Having owned shares in IWSY since 2010 I have seen this story play out time and time again.
It doesnt matter what partnerships, relationships, resellers, and app exchanges IWSY is on, it matters if any of this goes to contracts. To date nothing has gone to contract... not one contract despite many of Miller's comments on Transunion. customer is very close, IWS inside IDHaystack - Ledios , multiple iws products in Fujtsu services...
IWSY is extremely overvalued... highly recommend you reading CS post (listed below) on yahoo message board for IWSY.
AMD by the way has sales in the billions (range between 3-5B) and IWSY can't hit $12M for break even... IWSY / Miller have time and time again over promised and under delivered. IWS also has over 100m shares and continues to dilute investors like us bc they cant book revenue... Name one past partnership that has gone anywhere to contract and produced revenue.
My only hope is the fact that Fujitsu has taken an interest in the company and put their sales team on to selling IWS products as IWS/Miller cannot sell anything aside from preferred share raises to keep the lights on.
Be careful. as much as i would like to see this stock hit, the pattern of not achieving for the last 20 plus years is epic. Sure multi modal cloud biometrics are gaining traction but it is not clear IWS will gain any market share.
"
IWSY has a current market cap of $138 million.
It has a Price/ Sales Ratio of 34X.
(I like P/SR as I can easily compare profitable to non-profitable companies and get a comparable market metric).
The average software company (systems & applications) has a P/SR of 4X.
(from Stern School NYU Aswath Damodaran valuation guru)
If IWSY was "average" its Market Cap should be ~ $16 million.
The excess valuation of $122 million is speculation.
88% of IWS valuation is from speculation.
They have burn rate cash for about 4-5 more quarters (from Q3-17).
They have 2-3 quarters to post a significant win that could signal beginning of adoption for GVID.
If not, then they will face a daunting prospect of raising new cash.
It's not impossible that this could still work-- someone is going to make a lot of money with biometrics in the cloud-- but anyone who cannot live with the reality of the above situation should take advantage of the new found liquidity and better pricing. IMO.
i doubt it will be a priority with rep congress. Seems like this could hurt them if passed in the future if anything happened.
In regards to IWS I would like to see the start of enrollment of the Fujitsu Federated Id project... something
Posted the split below, I always read it as the total would be 0.40 - 0.50, I will confirm with IR.
"Jim Miller . Beyond that Fujitsu and we have agreed to just characterize it as a major Telco at this point along with a major financial services Company. Those folks might be joined by other people as this goes along and all this is we are scheduled to make initial delivery this quarter as Fujitsu said in their release and we are on-track to do that. So all these identities these folks will be revealed.
I don't think Bob that anybody has published the pricing on this that we are anticipating yet. So again I'm not going to go somewhere that our agreements with all the parties here prohibit us from going to. But you know it is a 50/50 revenue split with our partners at Fujitsu and folks should think in that $0.40 to $0.50 range that we have talked about often before.
Robert London
A month, $0.40 to $0.50 a month.
Jim Miller
That is correct.
"
https://seekingalpha.com/article/4098916-imageware-systems-iwsy-ceo-jim-miller-q2-2017-results-earnings-call-transcript?part=single
To start with grievances ......I have held this PS stock since sept 2010, and have reduced my position over the years. I find Ceo Miller to be ore fluff than substance and board to generally to add no value (aside from Goldman's capital injections). How Miller has survived, let alone received his bloated salary when not reduced and tied more to stock is beyond me....
That said the POSITIVE, if the Federated Project launches we can expect a slow enrollment period (it is natural and look at USAA as an example) BUT the behind the envelope math suggests that IWS's 50% split w/ Fujitsu for revenue could be a massive windfall for IWS.
It only takes $13m a year for IWS to breakeven and 5.5M monthly users to get to breakeven (see below).
i am holding for this pig to potentially fly....
Monthly sass fee ea user Users Monthly Revenue Split Monthly Revenue Months Annual revenue
$0.40 5,500,000 $2,200,000.00 50% $1,100,000 12 $13,200,000
the federated id project could result in a large revenue split for IWS, question has and will always be is if it happens... It was interesting to see fujitsu provide the pr and timeline as i do not trust Miller/IWS timelines..
Using 2m users (low end of millions) and $0.40 per user monthly fee (low end)
Monthly sass fee per user Users Monthly Revenue Split Monthly Revenue Annual revenue
$0.40 2,000,000 $800,000.00 50% $400,000 $4,800,000
Subs,
All noise no substance. The PR's IWS issues are fluff and always have been. I listened to the call and it was one more of many pointless calls showing absolutely no fwd progress.
Dilution coming, even Goldman started to sell... not a good sign..
I see no positive news / trends, let me know if you see something I missed.
Would appreciate a silver lining, but after three years of IWS
shifting to a commercial platform with no large contracts (Femsa is a small post pilot and the AK airports are insignificant)...
drop is starting... below $1 imminent, unfortunately
My bet is IWS has nothing to report for next qtr cc and the stock is going to bottom at $1 soon. Let's come to grips, Miller is a bs artist and has yet to gain one commercial contract in all the years since IWS rebranded...
Needs a contact or two behind it to make the stock move. Heard miller touting this at the Nov QTR CC... Fact is IWS relaunched to a commercial focus in 2014 and three years later they have nothing to show. This is his next distraction b/c now it's the fact they didnt have this product to protect the clients / partners... sure....Miller...
How many partners have they "secured"... 8? And no contracts.. Just is a sign that these partner relationships go only as far as the PR / paper...
Subs,
Thank you for the info, I've heard that chatter on Yahoo MB also.
If the player wanted in, why not put a few bids for 10k or 20k blocks? I guess I am just a little tired of the Miller BS and his constant over promise / under deliver. I just don't see anything changing.
I'd be much more positive if this company ever signed a real contract.. OnlineAuction doesnt count...
Subs -
As much as I would have thought some sort of contract would have been announced... as you stated two years later with nothing to show...
I have started to sell some shares, not majority but I want to protect myself. It's been too long for one of the partnerships not to sign a contract. I just think Miller is stalling, and with the latest preferred shares bs 2017 appears a waste too. This company should have sold itself at $2 long ago...
contract news needs to occur in Feb or this company is dust... not confidence inspiring to date...
Heard Miller on the CC blabber on this new offering..
Ill believe it when I see a contract...
IWS needs to sign a contract with one of their partners and with one of their products...
Maybe 2017 will bring us something...
still have majority of my shares, sold 20k worth last year at a similar profit but likely to sell remaining chunk if by March cc they havent signed a contract..
You?
They also did a preferred shares swap to raise more capital. Same old tricks by Miller and no new sales.... Gets old... I sold 2k of shares on today's top, might as well make a modest profit as unless we get a miracle the stock is headed back to $1. Miller and Co do not have a sales team to bring forth contracts, the whole bs partnerships have to weight to them unless someone within IWS is selling them and or working directly with the partner's sales forces on a daily basis...
Hoping Fujitsu takes mercy on IWS and buys it for $2...
have faith, still think something will come through, too many partners investing time and resources to market and bring these joint products to market. Something will hit...
Shelf filing - likely going to issue shares to the 3rd party, hopefully it is a VC / PE company or a company that is already a partner... something positive other than another cash run and dilution
Agree with comments on Yahoo finance that without an executive from SAP making a comment that is part of the PR this announcement is relatively weak.. Let's see some of those deals in the pipeline get signed Miller!
Yeah - the seeking alpha piece was mixed, the authors were way off on the technology - I'd take all the partners decision to integrate their products with IWS over some short authors but Miller is horrible at his statements... he needs to learn to say less on timing
I am optimistic with where the industry is finally at, still dont trust Miller but also think Goldman is moving fwd with Dana and Crocker.
Listen to the update call
https://iwsinc.com/about-iws/investors/
Miller seems confident they do not need additional capital - have enough on credit line. For some reason I believe him....
Subs - yes Miller has over promised and under delivered for years -but let's be honest about the industry and where it is. The commercial biometric industry - esp multi modal biometrics on the commercial side is just getting buy in from customers. In fact only Doan and a few others have waded in...
Apple Pay came out within the year, just now other phone makers are following suit and these are single modal biometrics. The CC - Miller -Q&A stated they did 3 proof of concepts last year and to date they have done a few dozen. That is a direct sign of where the industry is heading.
That is my case why I am staying in. The Mex pilot started - they are a few months in, the German healthcare pilot needs only the PO order from the German gov. All partnerships are online - he mentioned no delays or hold ups. There are no excuses for the integration aspect.
I am usually a naysayer but there were a lot of signs in the call that positive events are progressing in the background. For now I hold. One contract will set this stock on fire. It isnt a high number they need to reach for breakeven... Just add that to the list.
If you listen to the conference call it seems that they are not conerned with working capital. Miller seems confident if any number of deals in the pipeline go through they will have sufficient cash for breakeven. I am staying in. No company makes this many partnerships with a bs product or service. I do believe that the S curve for this technology is reaching the substantial jump off portion. Time will tell
don't hold your breathe - lack of any revenue announcements today isnt a good sign
What I am looking for in this report:
Revenue from:
-Mexico bottling pilot start - they stated at last QTR it was to start week after they gave report - looking for some revenue albiet small
- German Healthcare pilot start, last qtr update IWS had approval to proceed (hoping that there isn't another Millerism on why it hasnt started)
-Extenua -Any revenue from this partnership customers that have been announced (even if tens of thousands)
Updates:
-Agility - some agreement or cancellation - not this drawing out any longer
-update on TransUnion joint product, Amazon could services, Aruba (Telos licensing), Leidos (former Lockheed)
Tired of excuses and looking for some new customer product revenue to hit balance sheets
09 Aug - Quarterly Report - IWS day of reckoning .... will Miller blow more hot air or will they turn the corner with some commercial revenue?
Lets hope this relationship / offering has legs
ImageWare Systems and Fujitsu RunMyProcess Bring Biometric Authentication to Digital Process Flows
RunMyProcess Partners with ImageWare to Deliver Multi-Modal Biometric User Authentication, providing seamless integration of GoVerifyID® for solutions developed on the RunMyProcess Digital Business Platform
SAN DIEGO, CA – July 19, 2016 – ImageWare Systems, Inc. (ImageWare or IWSY) (OTCQB: IWSY), a leader in mobile and cloud-based, multi-modal biometric identity management solutions, and RunMyProcess, an innovation subsidiary of Fujitsu (TSE: 6702) and multi-award winning cloud platform provider, have partnered to provide turnkey integration of ImageWare’s GoVerifyID for solutions developed on the RunMyProcess platform.
RunMyProcess offers a cloud platform to quickly and securely build applications that connect enterprise systems and processes to the people, clouds and devices of the digital world. By making digital connections RunMyProcess helps enterprises safely evolve towards new digital business models that make a real difference to the lives of their customers and employees.
ImageWare’s GoVerifyID is an enterprise-ready, turnkey biometric authentication SaaS that verifies a user’s identity prior to granting them access to applications, systems, or networks.
“Our partnership with ImageWare enables us to make it easy for our customers to integrate the most secure, flexible, and scalable biometric authentication solution in the market,” said Dr. Yuji Takada, CEO RunMyProcess. “By adding out-of-the-box integration connectors for GoVerifyID, we provide our customers with additional convenience and security for their authentication processes.”
With an easy-to-use, drag-and-drop development environment coupled with an extensive library of integration connectors - including Office 365, SAP, Oracle CRM, SalesForce and Blockchain – RunMyProcess customers can rapidly build and deploy highly-customized business applications that integrate people, software and things within end-to-end digital process flows.
ImageWare’s Chairman and CEO Jim Miller commented: “RunMyProcess is enabling digital transformation for hundreds of leading companies in over 45 countries. We’re excited to provide our industry leading solutions to this ecosystem and look forward to delivering our patented, multi-modal biometric authentication solution to RunMyProcess customers.”
About ImageWare Systems, Inc.
ImageWare Systems, Inc. is a leading developer of mobile and cloud-based identity management solutions, providing biometric secure credential and law enforcement technologies. Scalable for worldwide deployment, ImageWare's patented biometric product line includes a highly scalable, multi-modal biometric engine capable of working with a wide array of sensors, modalities, and algorithms. ImageWare's identity management products are used for secure credentials, national IDs, passports, driver's licenses, and smart cards as well as both application and physical access control systems. ImageWare products support a wide range of biometric modalities including, but not limited to, face, voice, fingerprint, eye, DNA, and more.
ImageWare is headquartered in San Diego, CA, with offices in Portland, OR, Washington, D.C., Ottawa, Ontario, and Mexico. For more information on ImageWare Systems, Inc., please visit www.iwsinc.com.
upgrade on a joint offering that hasn't sold anything since it launched in 2013, albeit give delays to the org. configuration of a year and still nada. I see this and the White paper associated with it as nothing more than smoke and mirrors. Show me a contract with stated revenue per year, not bs PRs and fictitious pie in the sky PRs....
so no news.... somehow Miller thinks they will be breakeven this year...
losing confidence as Daon and other competitors move rapidly fwd..
ha - I am still here and somehow waiting for IWSY to do something, not sure that will ever occur and starting to think I have stockholm syndrome as I keep giving Miller more latitude on his excuses...
How are you? Still hold a position within IWS?
a good sign, maybe he can light a fire under Miller....
One damn contract worth a $1M or more would kick this stock into $2... just a proof of concept on the commercial side.
IP is worth at least $1 if the right company buys the co. and defends the patents.
The appointment of the former Hill CEO to the board is a good sign, shows Goldman is making plans to exit.... and he cannot exit in small share counts, he can only exit in full through a buyout...
listening to the call, not impressed...
more wait and see. This story is getting old...