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Welcome to penny stocks Bail. I wonder if she has took flight.
User, it is almost comical that you feel you were misled by the ceo who w able to look you in the eye and continue this amazing misuse of the fundamentals of a public company.
BadBoy, One could drive a bus through the holes in that story.
seems a bit different than the disclosure in the annual report. It is hard to believe that the CEO can get away with this for so long
Sales of our products depend on the development of emerging applications in their target markets and on diversifying and expanding our customer base in new markets and geographic regions, and with new products.
Our intent is to market and sell our products primarily to the private sector while addressing emerging applications that have not yet reached a stage of mass adoption or deployment. The market for some of these solutions (electronic biometric fingerprinting) is at an early stage of deployment in the private sector compared to other forms of services that try to identify a person by their name and social security number. Additionally, we have a strategy of expanding sales of existing products into new geographic markets. Our target market initially will begin in South America and Australia.
Trader, you are reasonable in your assessment and very much not alone. Follow this board back and read some of the "articles" written by the CEO.
If buying a ticket as an individual at the ticket booth at money 20 20 in Las Vegas and passing through the turnstile and wandering through the various displays of companies like Zwipe constitutes a "Release" I guess I am not surprised.
So what's next.
KeepReal, so what you are saying is showing up at a trade show is the launch of the fingerprint credit card? Really.
Like I mentioned 30 days ago it won't be what most expected and I am sure there are some disappointed investors on this board.
I guess we just got it all wrong.
KeepReal, you are right the 20 20 does not sell a list of the individuals who attend but does supply a list of exhibitors and it does not appear smartmetric is a valid company that is on display at this event.
Funny, when I checked the sponsor and other lists on the 20 20 convention in Las Vegas I can't find smartmetric, but find everyone else. Maybe our CEO bought tickets to get in the door.
I don't often see sec forward looking warnings in unbiast tech info publications or blogs. I just don't know.
Shiner, unless I read the article Duke posted wrong, I thought I read a sec disclaimer following the description of smartmetric.
Odd sort of I think. I thought those were to follow company press releases as per sec rules.
Just thinking out loud.
Version 2 card ? ? Give me a break
Bail, no kidding! If one adds up and keeps reading it is truly amazing.
It is almost not possible to make any sense of this whole deal. I know several people who were almost retired 15 years ago who can't now and that breaks my heart.
I luckily could afford, unlike many who were talked into this scheme.
I simply do not want this to continue.
Bail, read pages 12 through 21 in the annual report. It is basically in my opinion a 10 page disclaimer that comes out of a copy and paste stay out of jail manual.
Disclosures mentioned in the annual report are what count. Not press releases
Bail, pretty much boils down to...
If you disclose... anything goes.
Pages 12 through 21 cover off the story. Even though it comes from a cut and paste stay out of jail manual,
Joker, the B shares that the CEO paid himself with have more rights than common shares and that is unusual.
When reviewing the pay package that the CEO decided he would pay himself with including his own "incentive" bonus of $50K that goes up by 25 percent per year over and above the $190K. Plus a new car every 2 years worth $60K. Plus all living costs $??K per year. Plus Plus!
And then to add another 200000 class B shares (really 10 million common but with more rights) he just added tht extra shares this last Q10 for rights of some other smartcard.
To look at it all is truly quite incredible not to mention greedy.
Can someone name the specialty trade magazines that are talking about smartmetric and the product.
I would really like to find just one independent article in any format, print or electronic, that supports the product or company
I simply do not believe this dude should be able to continue this amazing spoof.
The end of the month will be a disappointment for many once again. Guaranteed it won't be what anybody expects. Once again.
The CEO response will be nothing, or possibly we the investors just got it all wrong, once again.
A legit company for example would publicly introduce a marketing person listing credentials etc. Not simply mention some secret sales force has been set up.
And I will have a continued chuckle reading the excuses posted by the infected.
It is a certain person who puts up a
"Bridge Out" sign.
Different from the person who takes down a "Bridge out"sign.
The Future of Credit Card Technology
Tom Kerr
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As banks move quickly to digital and wireless communication platforms, they are also rapidly developing innovative tools to help customers access their accounts and perform purchase and debit transactions. Here are a few cutting edge ideas that are already in the financial industry’s pipeline:
MasterCard Display Cards
Although they have not yet reached North America, MasterCard started issuinghr
its so-called Display Card in Europe two years ago. The next-generation card is described as interactive because the cardholder doesn’t just use it as a static piece of plastic. The card has a display window built into it, plus a touch-sensitive button.
Development of the card’s functionality is ongoing, but includes features such as the ability to view in the display window numbers and text that give you information such as your account balance, rewards points earned, recent transactions, and your available spending limit.
Another impressive feature of the Digital Card is that when the technology is used on a prepaid card, you get to see how much of your credit is available. That same feature would also work well on gift cards, since it can be especially annoying to not know exactly how much credit is left on the card without asking a merchant to swipe the plastic and tell you.
The Coin Card for Credit Card Consolidation
A new mobile gadget called Coin, which looks like an ordinary plastic card, also has a display screen similar to the MasterCard Display. Instead of carrying several different credit cards, though, you simply load them onto the Coin device so that it becomes the only plastic you need to take with you. The Coin card’s display screen shows a menu of all the credit cards stored on the device. Using buttons, you can toggle over to the particular card you want to use, hand the Coin to the merchant, and they swipe it to complete your transaction just like you normally would do.
asdfA handy Coin smart phone app also notifies you if you accidentally leave it behind, and then will automatically disable the card until you have a chance to return and retrieve it.
The practical viability of Coin has not yet been fully tested in the consumer marketplace, however, because Coin is still a start-up venture and not yet available to consumers. The founders of Coin hope to launch it soon as a tool for helping consumers consolidate all of their credit cards into one single unit.
My hunch is that by the time Coin gets off the ground the mainstream banking industry will have already introduced credit cards that include wireless connectivity features that will at least let you access multiple credit cards issued by the same financial institution. That may undercut the novelty and uniqueness of Coin, but for those who carry different brands of cards, it may still be an attractive way to consolidate accounts and lesson the number of cards you carry around on-hand.
One-Swipe Technology
For the first time last year, some banks in the USA that offer mobile apps for customer account access introduced a feature called “One-Swipe” or “Quick Balance,” which lets users see their balance without having to log in to their account. The consumer simply swipes on the sign-in screen to reveal account information in a scroll-down menu across the screen.
What may be almost as cool as the One-Swipe feature itself is the clever way that the app is demonstrated on the website of First Niagara Bank. As you scroll down the page the app’s capability is presented with moving graphic images of a smart phone going through the motions of each feature. Check it out for yourself to see exactly how one-swipe technology works.
One-Swipe may not change where you bank or shop; however, it is a feature that could win over future customers from a bank that doesn’t offer this convenient feature.
Pulse Wallet
The field of biometric security is rapidly expanding with cutting edgesdf innovations such as fingerprint identification on smart phones. Another kind of biometric technology that was recently unveiled during the annual International Consumer Electronics Show in Las Vegas involves palm prints.
The Fujitsu Company presented a kind of biometric reader, called the Pulse Wallet. The key to this form of identification is 3-D reading or mapping of a vein located in the palm of your hand. While it might sound a bit like going to your local fortune teller, the Pulse Wallet links a user’s unique palm print to their stored credit card information. Not only is a PIN no longer necessary, but you don’t even need a credit card -just “swipe” your palm instead.
Voice-Activated Account Access
Sharing fingerprints, palm prints, or eyeball scans with your bank might make consumers feel less comfortable and raise privacy concerns and questions like “What’s next, a blood sample?” Let’s face it, everyone wants a secure bank account, but nobody wants to sacrifice privacy in ways that can be construed as creepy – that’s why U.S. Bank is working on a voice-activated biometric alternative.
Voice activated biometrics will use individual voice recognition as a form of credit card identification in lieu of traditional passwords, security questions, PINs, or even palm prints. Since February of 2014, employees at U.S. Bank have been using the new technology as part of a pilot program. Instead of typing a password they just say it. That gives them secure access to their account balances, allows them to search transactions and enables them to make payments on their account.
U.S. bank hopes to launch the feature for all of its customers so that they can use voice biometrics to log in to accounts via the Internet, mobile app or when calling customer service. “Voice biometrics is a unique identifier,” the head of innovation at U.S. Bank Payment Services explained in a press release. “Customers are becoming accustomed to using their voice to interact with their smart phones and can become frustrated with manually entering passwords. Exploring a spoken passphrase login through this technology is a logical next step.”
Biometrics vs. Privacy & the Creepy Factor
I would argue, however, that the average American is less concerned with the frustration of entering passwords and much more concerned about personal rights to privacy. That may turn out to be a much more compelling reason for banks to follow in the footsteps of U.S. Bank and develop voice-activated security protocol technology. Many experts agree that biometrics can help to solve many of the current credit card and bank account security vulnerabilities.
The whole idea of using biometrics is still new though, and many consumers find it unsettling. That’s only natural, because up until now fingerprinting often had a negative connotation associated with being a criminal booked into custody by the cop. Then the TSA introduced body and eyeball scans when going through airport security, and that has generated a firestorm of resistance and feelings of distrust amongst the traveling public.
Since using your voice is not perceived as an invasive process, voice-activated biometrics lets the consumer feel that their privacy -as well as their personal space- is still protected. We are already accustomed to using our voice when responding to automated voicemail questions or when asked to provide a secret answer or account number.
The Bottom Line
We’ll have to wait and see what the future holds in terms of banking and credit card innovation, but for the time being if you do your banking in the USA you can expect a longer wait. Currently financial institutions here are playing catch-up to much of the rest of the world. The real game-changer will be felt once American banks have transitioned over to computer-embedded cards like Pin-and-Chip that’s already in widespread use across Europe.
*Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.
MasterCard's new interactive Display Card packs an LCD and a mini keyboard into the thin form factor of a traditional credit card.
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Facing ever-mounting pressure from the likes of Square, Paypal, Google Wallet, and others, traditional credit card companies like Visa and MasterCard are facing technology-driven challenges unlike any they've seen before. And while the Internet appears to be the primary disruptive element powering those new challenges, MasterCard has decided that its strategy for competing with payment service upstarts lies in creating an innovative new card that is fully interactive.
MasterCard's next-generation credit card is called the MasterCard Display Card and features a tiny display, a touch-sensitive keyboard, and even an on/off button, all packed into the thin credit card form factor with which consumers are familiar. Recently launched in Singapore for Standard Chartered Bank Singapore customers, the device was developed in collaboration with Switzerland's NagraID Security.
The MasterCard Display Card is designed to offer another layer of banking security for users, particularly during instances when remote transactions are made. Using the keyboard and display, the holder of the card can create a one-time password and use it for authentication when purchasing goods and services online, a measure that raises the bar for remote two-factor authentication procedures.
"MasterCard continues to be at the forefront of payment technology. From launching the first 'paper' card in the 1950s, to introducing magnetic stripes and EMV chips for secure, digitized payments," MasterCard's South East Asia president, Matthew Driver, said in a statement. "With the continued growth in online and now mobile initiated remote payments, consumers are naturally demanding increased security. The innovative features of the Display Card serve to address this need, whilst empowering consumers to do so much more with their payment cards."
MasterCard's new interactive card will work for traditional bank accounts as well as debit and ATM cards. Although the company has initiated limited launches of the Display Card in other international markets, the Singapore rollout is its largest to date. Future versions of the Display Card will allow users to access account balance information, transaction histories, and special promotions such as reward points all via the tiny LCD display
Stockdoc, on top of not inventing the thumbdrive you could attach keys to, he paid himself 10 million shares for.
I still maintain caution. I will bet it won't be what you expect BooBoo.
Duke, with Australia having the highest acceptance of NFC in the world, we can't forget about the partnership Mastercard has with Zwipe. Mastercard has made it public they will cover any NFC fraud.
Trackmind, if you read all the "sub"articles contained in the post that Stockdoc included a link to youwill read where Zwipe and MasterCard had very successful trials and moving into the UK this year. It also mentions that Australia is the country with the most highest rate of contactless card adoption.
It is somewhat incredible to read posts that in the face of continued broken promises made by the company. The most recent that one made regarding the end of July. Those that defend this rubbish must be really in over their heads in this one.
How much out of the ordinary does the company have to be? Or how many facts have to be presented to raise suspicion.
Some posters " went all over it" when the end of July was announced as pay day with claims of " 20 cents by end of week"
Well... Nothing happened. Again.
Penny's, Stock Doc does point out some of the peculiarities of this company in his posts. Simply searching patents relating to biometrics and credit cards brings up several patents.
KeepReal, please read the following excerpts from the Q10 and please comment on. I would be interested to know your thoughts.
Each share of Series B Convertible Preferred Stock has a par value of $0.001, and a stated value equal to $5.00 (“Stated Value”). Holders of the Series B Convertible Preferred Stock are entitled to receive dividends or other distributions with the holders of the common stock of the Company on an as converted basis when, as, and if declared by the directors of the Company. Holders of the Series B Convertible Preferred Stock are entitled to convert all or any one (1) share of the Series B Convertible Preferred Stock into fifty (50) shares of common stock
Patent License Agreement
1. Effective August 1, 2004, the Company executed a license agreement with Applied Cryptography, Inc. (“ACI”), a corporation controlled by the Company’s president and the owner of certain technology. Pursuant to the license agreement, the Company has the right to make use of this technology for the purpose of developing software and systems to be used by the Company to provide any or all of the following: 1) secure transactions over the Internet from home and office computers; 2) an automatic method for connecting to remote computers; 3) a method of developing targeted advertising to home and/or office computers; and 4) identity verification and access control as provided for in the patent. Pursuant to this license agreement, ACI is to receive 2% of all revenues generated by the Company on products which utilize this patented technology. The license fee is to be paid within 45 days of the end of each quarter. In the event no revenues are generated through the use of any of the licensed patents during a given quarter, no money shall be owed ACI for such quarter. ACI has the right to rescind the license agreement and reclaim all rights and interest in the patents if certain events, such as the Company’s filing for bankruptcy protection or reorganization, occur. The license agreement remains in effect for the lives of the patents. The Company may utilize the technological applications anywhere in the world without limitation. Upon execution of the Assignment and Assumption Agreement on December 11, 2009 (see Note 6), the Patent License Agreement was terminated.
During November 2012, the Company acquired license rights to ACI's Medical Keyring Device technology in consideration of the Company's issuance to ACI of 200,000 shares of its Series B Convertible Preferred Stock.
During September 2013, the Company acquired license rights to ACI's BioCentric Cloud Device technology in consideration of the Company's issuance to ACI of 200,000 shares of its Series B Convertible Preferred Stock. Effective November 5, 2014, the Company increased the number of preferred shares designated as Series B, and accordingly, the shares were issued to ACI on
November 10,2014
2.
In the last quarter of 2013 the Company released on a small release basis, its MedicalKeyring product. The release was marketed using limited radio advertising in New York with the focus on testing the market for the product and radio advertising directing interested consumers to the Company website for information and product purchasing. The Company received interest from the advertising with orders placed on its website. The numbers of orders placed however were insignificant but did show that there was interest in the product.
Bale, I so much agree with you on the merits of the concept. I have to say though that was exactly why the CEO used the key ring idea to appeal to some for investment outside of the regular market.
Reality today is that info should be attached to the body. The good old diabetic wrist band saved lots of lives. That same wrist band is now a watch that can handle and multi task much more. There are dozens of companies offering the same theory in the wearable market. The key ring left possibly in your car after the accident does not offer the same security as the good old wrist band/ smart watch.
Your phone can also hold the info now today. You just need a tattoo to tell the paramedic the pass code.
The MKR was an appealing gadget for its time and still never got off the ground. It is now really old thinking compared to what's out today
As far as paying for something, it might be a wearable ring that confirms identity. Cards might be on the way out.
Also Bail, please re read the Q10 and read what the License agreement with ACI, the company owned by the CEO, the workings of the 464 patent are described there and no mention of fingerprint reader or biometrics.
The 10 million shares is shown as 200,000 class B shares, that the CEO decided could be converted to common shares ( 50 to 1 conversion) that have more rights than us common shareholders.
In addition, ACI, the company owned by the CEO was paid another 10 million shares for some Cloud Storage system.
It is made to look that the CEO gave the Patent (464) in 2009 to the company. But in reality the CEO has actually paid 20 million shares to himself in 2012. 10 million for a thumbdrive you could attach keys to, that never hit the market.
It's all there. Again... if you disclose anything goes... in the OTC pennyland.
Bail, the 464 patent that went to court with MC and VISA has nothing to do with a fingerprint reader implanted in a credit card at all. Tha 464 relates to a process. Yes there is a valid patent that is owned by SMME, but does not relate to biometrics.
Incidently, the CEO has put a lein on the assets of the company, including the 464 patent that he paid himself 10 million shares for. So really the company does not really own it any more technically.
It is very simple to Google " credit card security patents" to get a feel for what's out there. SMME does not come up anywhere in the search.
In a previous post I referenced a simple description of IBM's patent that seems to be the wording in PR's issued by smme.
I think it might be time for some to consider their positions with this company. Mid September and have not heard of the announcement and whatever was planned for the New York roll out.
Bale, I don't think there is any wording within the patent description that SMME holds that mentions anything about biometrics contained within the card.
Stock Doc brings much needed knowledge to this board.
One of the many patents
Patently Great: the credit card that uses your fingerprint as your pin
A new batch of patents recently registered promise fingerprint readers in credit cards, better scar healing, and the end of headphones
Richard Gray
By Richard Gray
12:54PM BST 24 Oct 2013
A human touch is priceless, for everything else ...
Contactless credit cards are a quick and convenient way to make payments in shops.
However, they have been criticised for not being entirely secure – a thief could easily use your card to pay for items without needing to know your pin.
There are also concerns that the cards can be skimmed while still in your pocket by someone passing by with a powerful enough reader.
Happily, a new patent suggests an end to the problem may be in sight. The patent, submitted by International Business Machines Corporation in New York, proposes the use of a biometric sensor like a fingerprint reader in credit cards.
Their design places the sensor in one of the card's corners, so it will automatically read the print from thumb or forefinger when the card is held by the owner.
If the fingerprint on the sensor matches those held in the card's memory, it will unlock the contactless payment chip allowing it to make a payment.
If a thief does get away with the card, not only will it not work for them at the point of sale, but it will also lock permanently after a certain amount of failed attempts.
There are already 177 million shares out there. Look back and see what the company started out at.
Trader, 177 million shares and growing.
A refreshingly candid perspective from an external source other than uninformed and useless PR's is welcome in my opinion. In some ways it may open some eyes as to the true nature of the CEO and to put into check the ability to carry on a possibly borderline legal entity.
Stockdoc, for an interesting read check out post # 6062.
In other words Shiner, the CEO paid himself 10 million SMME shares for the key ring patent.
Shiner, the company you refer to was paid 200,000 shares that were convertible at a 50 to 1. This was for the thumb drive that had a place you could put keys on that were never sold.
This is information that is available on the Q10.
Stockdock, you describe the peculiarities of this float well and look forward to your comments about the CeO's posts made a couple years ago.