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Government heads (management here) really know absolutely nothing about money management. They come from a culture of professorial theory with a never ending source of money (taxpayer funds) with little to no accountability. Instead of going out and securing people who have done this successfully, and there are about 3 of them out there, they try to do it themselves because they have a bloated sense of self confidence. Its a formula for disaster. MC's new ZWIPE card that puts fingerprint technology on the card itself is the NEXT step to get consumers acclimated to the technology. Smart phones help with that as well. even IF the Wocket is a good device when its able to work, its just too early. This company should look at BioMETRX from the mid 2000's. They developed multiple fingerprint consumer security products like garage door openers, front door locks, etc......developed partnerships with Master Lock, Honeywell, and sold through Home Depot, Lowe's and SEARS. Now they are doing the same thing, but only in healthcare at RXSF. That is the footprint for NXTD to use now. Not on their own. Acceptance at the levels necessary will make it virtually impossible to meet realistic financial goals. Good idea for the future, just bad timing, and that goes directly to the experience of the management team. Or lack thereof.
IMHO, the R/S is a gift, you just can't see it yet.
Look, if they didn't disclose things, then they probably don't exist, and then they would have no legal reason to disclose something that doesn't exist. The PR's are mere "puffing". If it does exist, and falls into the material requirements of the SEC, its up to the SEC to enforce that. Anything else is civil in nature, and I am sure the parties who are interested are very aware. There's nothing wrong in manufacturing things and using the ideas and technology of others, provided you disclose that and get permission for that. There are no shortcuts in business, especially in technology. You would think CHAYA would be most aware of that.
Like I said before, I HOPE they have what they claim. If they do, I will eat my hat. If they don't, don't say I didn't warn you. Seems to be a pattern here.
WAIT - JUST ONE MORE!!!!! The Medical Card Developed by SMME
This one is from 1998, same guy who created the real "MKR" 6 years earlier, LOL!
http://www.siliconinvestor.com/readmsg.aspx?msgid=3970579
And there you have it. And there is a broad patent on this as well. COLIN/CHAYA must have known about this guy and that company and decided to go into that market as well......I just guess they bypassed asking permission.
And lets further face the TRUTH
SMME could not have brought the MKR to market AT ALL because this company holds the broad patent on biometric security, retrieval and access to electronic medical records. Again, SMME would have needed permission from this company and license their technology to even consider bringing that product to market legally.
http://www.secureidnews.com/news-item/biometrx-acquires-medical-biometrics-system-patent/
Almost seems that everything that company has done, CHAYA has mimicked and taken credit for.
WOW and OUTRIGHT LIE HERE in this PRESS RELEASE from 2012
http://findbiometrics.com/smartmetric-brings-to-market-the-worlds-first-biometric-activated-and-protected-electronic-medical-records-storage-device/
Lets look at THE TRUTH:
http://www.biospace.com/News/smarttouch-medical-inc-introduces-smartstik-mdtm/38974
How many of you fell for the MKR? Pretty much says the same exact thing as the people who actually created and sold it 6 years earlier.
This is exactly what I mean. Everything I have posted is true and verifiable. What have YOU verified about SMME?
AGAIN NOTHING ABOUT SMME - Just other REAL COMPANIES
http://findbiometrics.com/biometric-capabilities-cardlogix-28274/
BIOMETRIC TRADE PUBLICATION - NO SMME COVERAGE AT MONEY VEGAS SHOW
http://findbiometrics.com/biometrics-at-money2020-210294/
This is the "premiere" biometric trade publication that covers ALL biometric companies and their products. No mention at all about SMME. Maybe they were covered in the past and the guys at that publication felt its was BS too. Maybe CHAYA was actually hiding from people who really know about the technology.
Looks like CSTI needed to cover and NITE jumped them on the bid. Its been NITE and CSTI playing this R/S for the last 3 weeks. Not enough yet to drive through them. I still think BKRT knows something we don't. They must think thats the pre-split value, which means post split it should be $30.52 - market cap $40M. Thats about right. -MONKEY WRENCH THROWN IN FOR GAMES AGAIN
Talks with banks. Guess that translates to some as a $20M contract. Really. You guys promoting this POS need to go away and stop helping this company. When I start seeing 8K's and proper disclosures (if there are any) I will change my tune. Right now, this is just another OTC typical company that has gone on too long.
The SEC sets the rules. You can look them up at the SEC site. The main one is what is considered material information. And that MUST be reported in an 8K public disclosure filing.
Form 8-K is used to notify investors of a current event. These types of events include:
Signing, amending or terminating material definitive agreements not made in the ordinary course of business (SUCH AS MANUFACTURING, ASSEMBLING, PATENTS and DISTRIBUTION and SALES)
Bankruptcies or receiverships
Consummation of a material asset acquisition or sale (PATENTS)
Results of operations and financial condition
Creating certain financial obligations, such as incurrence of material debt (WOULD ACCOUNT FOR STOCK ISSUANCES, MANUFACTURING CONTRACTS, COMPONENT ACQUISITIONS, ETC)
Triggering events that accelerate material obligations (such as defaults on a loan)
Layoffs
shutting down a plant (WHEN YOU STOP MANUFACTURING AT ONE LOCATION)
material change in services or outlets (WHEN YOU SIGN A SALES FORCE)
Material impairments (WHEN YOU LOSE A LAWSUIT, GET A CEASE AND DESIST ON PATENT INFRINGEMENT)
Delisting from a securities exchange or failing to satisfy listing requirements
Unregistered equity sales (private placements) (WOULD ACCOUNT FOR INCREASE IN O/S)
Modifications to shareholder rights
Change in accountants
Determinations that previously issued financial statements cannot be relied upon
Change in control
Senior officer appointments and departures
Director elections and departures
Amendments to certificate/articles of incorporation or bylaws
Changes in fiscal year
Trading suspension under employee benefit plans
Amendments or waivers of code of ethics
Changes in shell company status
Results of shareholder votes
Disclosures applicable to issuers of asset-backed securities
Disclosures necessary to comply with Regulation FD
Other material events (ANYTHING THAT HAS A MATERIAL EFFECT such as PATENTS, PRODUCTS, ETC)
Certain financial statements and other exhibits
Joker, as bad as things are here, I have to agree with CHAYA. You need to do what you can with what you have, and she only has stock left. The problem is there is nothing disclosed to quantify who and where the stock is going to. If it was for a downpayment on manufacturing, thats good. If its going to corrupt IR firms, not good. If it was to secure electronic component supplies, thats good, if its going to be liquidated off market and pocketed, not good. Lot of businesses use stock based consideration, the question is again, for what and to whom. Thats required to be disclosed.
I bet there is a big block up for sale that's not showing yet.
This is called "puffing". There is absolutely no substance in the release. In fact, it's a Hail Mary, pathetic attempt to try to get noticed. They attended a trade show. Didnt even exhibit. They probably set up some coffee meetings to try to pitch the card idea. We're is the 8k? Because it's nothing but talk.
Obviously the company is not putting too much effort in promoting the company and hasn't concentrated on sales in months. Instead it decided to get everything in place for a BIG push which obviously is set for after the split. This is just noise and stock manipulation by the MM's and flippers taking advantage of the upcoming news of the split. There has been enough news out to see the new path as well as the amazing progress this company is making. Marketing and sales initiatives, cleaning out and up the cap table, shedding negative elements and I am confident this team has some big things they will announce in the near future. Old facts painted in a negative light already cleared by the SEC and personal attacks against management is all they can come up with.
Lots is frustration by those who cannot manipulate for too much longer. This will be a very volatile week. I'm holding. And then afterwards, I will be buying. Beat me to that if you can.
They want the reverse split to look like it will fail so they can pick up cheap stock post split. They pound it down now and then afterwards they can pick up more and play the same games. Only there will be not be enough stock to play those games. New investors will be driving right through them.
So far, the facts point to nothing other. Show me a dollar they have earned, show me a product they have made, show me disclosures that would lead a normal investor (not Jo Jo the circus clown jumping into the clown car) would invest in. Show me their manufacturing facility. Where is proof of all of the progress? Where are the patents THEY claim to have? Where are the biometric products they claim to have "developed"?
I see absolutely nothing other than what I have pointed out. This isn't/was the only company I was invested in, but even my broker got caught up in the hype. And thats all it is....hype.
No, but what IS relevant is that every issue you bring up has been fully disclosed and explained by the company, especially to the SEC that APPROVED its disclosures and filings. Let's go over that again - the SEC APPROVED its disclosures after initial comment before it went public. Not a single comment since the S1 has been approved, and that includes the company's K this year. So whats the end game here? To keep hammering a company that is one of the most transparent companies because YOU disagree with how they do things? Thats called an opinion, not a fact, no matter how hard its laid out. Its the same story, 5-6 times a day, everyday, including sunday by you. Facts are facts and this company has disclosed them, not for you to pound on them AFTER THE FACT, but so people like you can determine if you want to invest.
What you posted is considered a SHAREHOLDER update that is required to be posted in a Press release to the entire market. Thats the rules. You would need separate permission to repost that passage from the CEO publicly.
SkiLuc - isn't that more than 2 years ago now? Maybe they determined that they made enough progress with establishing the initial relationships to let the company breathe on its own. Thats what I get out of that. And it tells me that they worked for the last 2 years for no compensation. Someone had to build the company. To me, it doesn't make any difference if they accrued all that in salary, or accrued that through a consulting agreement. They decide how and when they should get paid. Just like any other person who starts their own company. And I don't disagree how they did it either. Without them, we wouldn't have had this chance to invest and go on the ride.
And the point here is that the company and its founders have NOTHING to hide. They fully disclosed this information because they do what is required. Could only ask this of all OTC companies. Thank you Dave for finding this and pointing this out. It definitely reveals to shareholders that this team is honest and above board. They told you exactly what they did so you can make an informed decision on whether to invest in the company or not.
I still believe though people willfully ignore all of the progress of this team and just focus on negative innuendo. If you think they are bad people just say it. If you disagree with their decisions, say it. Because what you are doing certainly implies that. From what I see, they have been transparent and up front - allowing people like you to pick and choose certain facts to hang their hats on in an attempt to discredit them - and lets face it - thats ALL your posts are designed to do.
This seems like an ILLEGAL public disclosure of confidential information that should ONLY be introduced in a Q or an 8K. I hope this isn;t an email from Chaya or another officer of SMME to a shareholder or even a crooked IR firm.
Those shares are ALL legally locked up for several months and are held by longs. So those shares are a non issue to real investors and real investment firms. Only small minded businesspeople who trade stocks watch the pockets of others.
Yes, thats how actual businesses compensate their leaders when the company doesn't have cash resources. Kind of like business 101 at Community College stuff.
And for a company so filled with brilliant minds, this is all they could come up with? The Wocket? I give them an "A" for effort though, because I like and KNOW about biometric technology, both in the network as well as the embedded spaces.
No there isn't. Its just a bunch of former government tech heads with absolutely no idea what the biometric market really is. They started in 2011. No real enterprise technology, not even any proprietary silicon, processing or basically anything else thats actually useful. They are glorified aggregators,nothing more. They were lucky to get the funding they did, and get listed on NASDAQ. And to rely on the WOCKET, just shows how out of touch they are with consumers. This is exactly what happens when engineers start and run a company. Just look at what happened to SEQUIAM in the early 2000's. Bunch of tech heads got together and wasted $36M on nonsense. IMHO, worse here.
OMG - REPUROPSED OLD VIDEO in press release, basically an animation! Let's see who falls for this now.
LOL - ROFLMAO - last line in video...."experts in biometrics".
Just saw todays news....ROFLMAO. What a joke this is now. She spends $400 for a press release to try to tie in the 20/20 show with "presenting" the card to issuers". This is not a release regarding the debut of a product. Its a soft side story, "hey. I just pulled this guy over from the Bank of Batswana and showed him what i have in my pocket". Get real already. Just so unprofessional.
NEW YORK, NY--(Marketwired - Jan 10, 2014) - SmartMetric, Inc. (OTCQB: SMME), a developer
of patented biometric products,
This says it all. NOT A SINGLE PATENTED BIOMETRIC PRODUCT. Thats should of been your first clue.
Who knows the game afoot. But I would say that she wanted to keep the price of the stock artificially inflated so she can borrow personally against it, sell it privately and not disclose it, or whatever. The higher the stock price is, the easier it is for her to get money by leveraging it. Thats just a guess. Why would they pay IR to tout this if that wasn't the plan. Not sure, but it sure looks that way to me, especially without any substantive announcements of partnerships, actual manufacturing, etc.... The filings disclose NOTHING but more rhetoric. I wish i could tell you otherwise, but I just don't see it. The ONLY thing that warrants such secrecy, is the cure for cancer. Everything else is REQUIRED by LAW to be disclosed. And they have disclosed....a lot of NOTHING.
Guess you don't read the filings. The former consultant screwed that up completely. The company wasn't properly qualified for the grant by the consultant to begin with. The company has put one of its directors in charge of that program. (See the filings). But the company is off to bigger and better things, like the GSA schedule and CVS, or don't you read the filings and press releases?
There's no real stock when those big asks show up. They will try to sell it high, the pound down the stock to fill. Happens every day with this company.
This company was originally built on medical dispensing machines utilizing fingerprint recognition to dispense and retrieve medications at pharmacy's. The hard right turn into "cannabis" was a waste as those initial investors did not buy into this. I spoke to the former CEO, what a putz.
LM - this is even WORSE for SMME. ZWIPE and MC obviously have a LOT of IP protecting their card and system. SMME shot its wad (at least some time in the past it could) in the lawsuit which had nothing to do with biometrics. ZWIPE did it the right way, partnering with MC and testing the technology. POS terminal manufacturers will completely block SMME's card UNLESS a very valuable distinction can be made to warrant eating crow....and MC....NEVER eats crow. In fact, I have been to MC's Purchase, NY headquarters in 2001 and their entire facility uses biometric door access. Pretty simple. Register when you arrive as a guest, and off you go. Their system has the ability to know where your meeting is and lock you out of areas you are not suppose to be in. Just an example of MC's EXPERIENCE in biometrics. SMME's experience. ZERO
I have been saying this for a while - for CHAYA to do this, she needed permission from the patent holders. I know for a fact she doesn't have permission from one of them. She needs a contract with a major card issuer, or an endorsement from a POS terminal manufacturer. She hasn't disclosed that in her filings or PR, so I can only assume, NOT.
Its going to be a HUGE race to grab up those shares right before and right after the split.
Because POS biometrics (I'm into biometrics - I couldn't care less about payment systems) can only be implemented 1 of 3 ways. A major card issuer (and ONLY MC, VISA and AMEX), a major POS Terminal manufacturer, or a Major bank such as BofA, Citi, etc... It cannot - and I will repeat that, CAN NOT be done through a pilot at a local small bank, cannot be done even with DISCOVER CARD and certainly cannot be done without POS terminal manufacturer approval - because even though the card (if it exists) may work with its equipment, they will NOT ALLOW its use because they would run the risk of losing MC and VISA as clients. Thats just how THAT industry works and thats why I don't care about that industry. There are better uses for the technology that cost less to enter a different market.
This is nothing but a slap together business, promulgated by a wannabe in this particular fields, that appears to have pulled the wool over a lot of peoples eyes. But that my opinion, and I could be wrong.
Nope - the financial institution shows do not impress me, Mostly smoke and mirrors and a lot of wannabe technologies. But one of my colleagues went and guess what? NO SMARTMETRIC. NADA. Nowhere, none.
Actually they do, with over 200,000 cards in the field. And with Master Card leading the charge, it will be a success. Now why do you think MC didn't go with SMME? Maybe because SMME sued MC - thinking - hey - we'll get their attention then they have to use our card? Very bad strategy from Chaya/Colin. You alienated the worlds largest card issuer. VISA is lockstep with MC. AMEX? Not after you sued MC - its an old boys club there. Or could it be Chaya yet again tried to steal an idea from another company, easy to raise money with a public company from uninformed investors, and continue this charade for over a decade?
I have seen the ZWIPE card in person and it working - seamlessly. Haven't seen SMME's card yet do anything. Actually, haven't seen it at all. Maybe non-disclosure means non-existent.
LOL, did you plug it into a POS terminal? Did you register your finger on it? I have seen dozens of mock up type biometric cards. I saw one that worked in 2001 as well.
Seeing it work and ADOPTED is believing. Make me a believer and I'll stop.
Hush hush on IP? Really. Legally, that CAN'T happen. As soon as you file with the USPTO it becomes public record. When you file, the law REQUIRES you to disclose that when you are a public company. The same goes for assignments, licenses or contract vendor relationships with ANY IP.
There is NO BIOMETRIC - let me repeat that - there is NO BIOMETRIC IP associated in ANY way with SMME. No patents, no patent applications, no assignments and no licenses. NOTHING
I have presented the absence of enough evidence to dispose almost everything this company says and does. But lets see tomorrow. Maybe MAD Magazine will pick up SMME's introduction. Yea, Chaya E. Newman. GLWT