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Cals Sporting Armory; The resellers continue to add up
http://www.calssportingarmory.com/Gun_Safes_Gun_Locks_s/108.htm
Loanstew: We have two Biovaults and just ordered a Biobox. Noticed a guy on E-Bay by the name of Kimsey that is selling the Biovault and Biobox. I talked with him the other day and he said he was having great success selling these products. I hope that is the norm with Sharper Image etc as well.
The Sports Authority now offering. Let's see in just past month. Sharper Image, Dick's Sporting Goods, and now the Sports Authority. Could Costco and Walmart be next?
http://www.sportsauthority.com/product/index.jsp?productId=2817513&cp&kw=biovault&origkw=biovault&sr=1
Thanksgiving holidays are now over and just a few more weeks before Christmas and End of Year comes to a close.
It is amazing that some individuals spend their time over hoidays trolling message boards. Most normal people enjoy time with their families.
Having said that, Let me apoligize for my absense over the past few days. However, I am more than dedicated over the next few weeks in following the marketing and hopefully adoption of Sequiam's products. Product awareness is the main objective at this time.
Now that we have a new full week I'm very interested in following the retailers information especially concerning sales of unique products.
The Biovault, Smartscan, ScanQ, and Biobox are getting lots of exposure as a result of the partnerships they have in place. Sharper Image, Black and Decker and numerous retailers and websites which were non existant this time last year are giving Sequiam's products mass exposure. Compared to last year I feel this is a major accomplishment.
AEROX: What do they mean by the language included in the share exchange agreement was drafted long before the stock structure of the post acuisition public company was known? Did they not do proper due dilegence on this?
There may have been an insufficient amount shares to consummate a share exchange?
This sounds shady to me. What is the deal?
Franchise Capital Corporation (PINKSHEETS: FCCN), which recently closed its acquisition of Aero Exhaust, Inc., a world leader in performance exhaust airflow technology and NASCAR Performance Partner, today issued a brief statement from management addressing language that was included in the share exchange agreement between Aero Exhaust and Franchise Capital regarding a potential future reverse split.
"The language included in the share exchange agreement was drafted long before the stock structure of the post-acquisition public company was known," stated Bryan Hunsaker, chief executive officer of Franchise Capital and Aero Exhaust. "It allowed for the fact that there might have been an insufficient number of shares to consummate the share exchange transaction, so language was included that indicated that management intended to pursue a reverse stock split soon after the acquisition closed. Given the current structure of the company, management has no plans to pursue a reverse stock split in the foreseeable future.
AEROX, Your input on another board and your concern for fully dilutive and outstanding share questions caused me to look into other companies you have chosen for discussion. Concerning the fully dilutiive and outstanding shares on FCCN. Doesn't this amount and past delayed reporting of FCCN cause you to become concerned?
I mean after looking at the delayed reporting and lack of news on FCCN this does not look to be a fully reporting company to me.
What is the share structure concerning fully dilutive, outstanding and authorized shares on FCCN?
My concern would be if all warrants had exercised and converted which they have not at this point. However, If so then I do understand what the fully dilutive amount would be at that time.
As you stated, you should do much more due dilegence as you don't fully understand Sequiam's products, the partners they have in place, nor the management team.
However, Lets examine your point about all of the warrants being exercised and use the fully dilutive amount which seems to be your primary concern.
If all warrants were exercised and converted the outstanding shares would be approximatley 168 million. Currently the outstanding is around 93 million. At the current share price of .12 the fully diluted would equate in a market cap for Sequiam of approximatley $20 million.
If Sequiam were to generate approximately $10 million in revenue in 2008 then the company would be trading at 2 times projected revenue which in my opinion is very low considering the expected growth of this company as compared to other companies involved in biometrics. What other companies are you comparing to Sequiam?
In looking at past 10-Q's you are not giving any credit towards cost reduction and non-recurring R&D expenses. The royalities from Black and Decker will flow immediately to the bottom line as R&D for the product has already been expensed. Also, the fourth quarter will be the first time an entire quarter of royalties will be recorded as revenue so there is no logical way to look at past financials and conclude your basis for margins going forward in my opinion.
New products in addition to the Smartscan are also being deployed in mass. Biovault, Biobox, ScanQ just to name a few. I.E. Sharper Image which has what appears to be a very aggressive marketing campaign which just began and Sequiam's products are displayed on page 18 as Exclusive. Will be interesting to see how well they are perceived by the consumer, then again we won't know for several more weeks.
Also, with the recent appointment of high level execs from both Intel and Microsoft on board I feel these individuals can contribute a great deal of knowledge which should translate in to success for controlling costs in the future while increasing revenue due to contacts they may have.
I'm not trying to convince you this is the place you should invest and if as you said you don't feel this is the best opportunity to explore as an investment than I would find other investments which would better take up your time.
Sequiam is a penney stock and speculative investment. You should take that into consideration as well. It is not a perfect world but then again. It is not like the fully dilutive shares outstanding is in the billions or astronomically high compared to other penney speculative investments.
What have you learned about other Biometric companies that has sparked your interest? Can you name some other companies involved in Biometrics?
I don't seem to remember reading where it was ever mentioned or implied that Sequiam's 3Q 07 was a blowout quarter. Most that have done proper DD on this company realize year over year comparisons look extremely good as Sequiam has emerged out of R&D and now revenue is growing exponentially.
If you understand the speculative nature of penney stocks then you should also understand you can lose 10%-20% and gain 10%-20% and many times greater in a few trading days.
Again, Loanstew or no one ever stated 3Q was a blowout quarter as Sequiam is still losing money. Profitability would be a blowout quarter. You are incenuating something said that was never said or implied
Current outstanding shares if you spoke to Transfer Agent should be approximately 92 million. Authorized shares is 400 million and Fully Dilutive if all warrants were exercised and converted is approximatley 168 million. We have covered this numerous times and all of this information is available and nothing hidden.
Do you have any information about other biometric companies in which we can compare proper market cap and revenue?
What brought your attention to Sequiam? Are you interested in Biometrics, penney stocks? Why the sudden interest?
Pay By Touch was one I was looking at the other day and Sequiam beats them hands down on all comparables. If you want to see how a biometric company didn't make it then please do some DD on other companies involved in this industry.
Keep an eye on Black and Decker, Fujitsu, Sharper Image to name a few and you can see Sequiam has now turned the corner.
Facehair. I received your PM but unfortunately I don't reply to PM's on IHUB. 3Q financials are out. As most of us have been saying over the past year. Fourth quarter should be the tell all concerning Revenue.
It appears everything is finally coming together. I'm hoping this Christmas season Sequiam's products gain major recognition. It is put up or shut up time if you know what I mean.
Sequiam is now out of R&D phase. Now we need to see if Sequiam products i.e. Smartscan, Biovault, Biobox, ScanQ are accepted by the consumer. Black and Decker as well as Sharper Image are good partners to have concerning exposure and it seems they are coming thru now as the advertising just seems to be starting.
It is time for Sequiam to execute!
Up until recently Sequiam has been completely in R&D and spending money. However, they just began deploying products in mass with very big name companies/partners. Up till this point they have been burning cash and serious investors understand R&D and the huge amounts of cash that is required from companies that manufacture as well as sell their own product.
Continue to do DD on this company and I hope you will be impressed.
If you have any questions we will be glad to answer appropriately. Hopefully you understand penney stocks and speculative investments.
You do understand the current outstanding shares?.
Fully dilutive shares and authorized shares?
A few on this board only want to discuss dilution which many of us understand especially when a company is issuing stock in the appropriate manner with a solid business plan.
At this point, the company should be at the turning point with sales forthcoming that will justify a market cap based on comparable companies. Hopefully breakeven results will be reported within the current quarter i.e. 4Q 08.
The Christmas shopping season is very important to Sequiam at the present time. They have alligned themselves with some big names and the products are accepted by the consumer 2008 could be one heck of a year for this company.
Pay by Touch just recently announced they were getting out of the biometric business after spending $450 million over the past year. As a comparable to Pay By Touch Sequiam has been able to accomplish this for basically nothing.
Sequiam at this point based on current debt and capital structure looks very good to me but then again we need revenue to back this up. From the trend they have set over the past two quarters it seems to some of us we do see the light and it is not a train.
CBS Sports Store now carrying Sequiam Biovault
http://www.cbssportsstore.com/product/index.jsp?productId=2817513&cp&kw=biovault&origkw=biovault&sr=1
Biovault now available at Dick's Sporting Goods
http://www.dickssportinggoods.com/product/index.jsp?productId=2817513&cp&kw=biovault&origkw=biovault&sr=1
Sequiam Biobox on Sharper Image
http://www.sharperimage.com/us/en/catalog/product/sku__SQ151BLK
Sharper Image Sequiam Fingerprint Scanner
http://www.sharperimage.com/us/en/catalog/product/sku__SQ150WHT
Notice the scanner on Anne's Diary website
http://www.annesdiary.com/?v=register
Check out video presentation as well on home page. Figerprint to get in ?
http://www.annesdiary.com/?
Correct, The $17K received in June seemed like a good indication of how well the Smartscan is being received. The Smartscan was rolled out in late June so the quarterly royalty payment due in the current quarter should be good.
They are not exercisable and are restricted.
A great buying opportunity has once again presented itself. I'm about to take advantage of this once again.
Loanstew correct. Biometrics Investors is no longer involved. It is comical that the select few want to continue to try and control the flow of info and dialogue while not properly understanding the fundamentals.
When corrected it just adds more fuel to the fire as they are argumentative.
Best advice I have is to ignore them. Maybe they find another place to entertain themselves. It really is sickening!
Dr. Gas what a Joke. They can't even get the exchange ratio calcualted due to manipulation. They overstated Goodwill but didn't adjust the share exchange! Fraudulent!
"In the case of the share exchange between Aero and Franchise Capital, the exchange rate was negotiated at a time when Franchise Capital's stock price was considerably lower than the price per share on the date we closed the transaction. This resulted in an overstated amount of goodwill being recorded and an overstated amount of settlement cost of debt that was retired through the issuance of stock at the time of the share exchange. We therefore elected to reduce the amount of goodwill to the value of the stock on the date the final share exchange terms were negotiated, since we believe that price represented the fair market value. While this treatment more accurately reflects our asset value, it also resulted in a considerable non-cash loss, which is in no way indicative of the actual operations of the company.
"We anticipate that being able to produce Aero's cat-back kits through the merger with Dr. Gas will allow us to substantially increase the supply and the current demand for Aero products and allow it to achieve break-even cash flow in the near term."
Franchise Capital recently entered into a preliminary agreement with Dr. Gas, Inc. to acquire 100% of the common stock of Dr. Gas, Inc., a producer of the finest racing performance exhaust systems for street and pro-race performance exhaust applications. Dr. Gas produces 90% of all exhaust systems used in NASCAR, Nextel Cup Series, Busch Grand Nationals, Craftsman Truck Series, and many more. In addition to its racing applications, Dr. Gas, Inc. also manufactures for Original Equipment Manufacturers (OEMs) such as Freightliner.
The acquisition of Dr. Gas, Inc. is expected to provide the company with multiple benefits due to its significant synergies with the operations of Aero Exhaust. Once the planned acquisition is consummated, Dr. Gas will contribute to increased revenues and asset valuation for Aero. Possibly even more significant for the business of Aero itself is that Dr. Gas, Inc. is expected to contribute to the growth of Aero through the fabrication of components for Aero products, including recently launched full exhaust systems. Dr. Gas, Inc.'s fabricating capabilities are expected to increase the availability of Aero's new line of full turbo and cat-back systems diesel exhaust systems, referred to in marketing documents as "kits," which include all parts from the catalytic converter, turbo charger or muffler back to the tailpipe. Improved supply will help Aero to meet the demand for its products in the automotive supply market.
On October 4, 2007, the Company and Aero concluded the Share Exchange. As a result of the transaction, the Company agreed to issue a total of 1,114,285,700 new shares of restricted common stock, bringing the total number of shares of issued and outstanding common shares to 1,714,285,700. The shares are being issued in exchange for 6,745,456 shares of Aero common stock, representing 100% of the total issued and outstanding shares of Aero, and the satisfaction of Aero debt of $4,458,519. As of October 11, 2007, 1,977,814 shares of Aero (representing 15%) had not been tendered for exchange and continue to be held by minority shareholders. This resulted in 166,407,263 shares of the 1,114,285,700 new shares of the Company’s common stock being placed in an escrow for the future exchange of the remaining Aero stock. As a result of the Share Exchange Agreement, the shareholders of Aero presently control approximately 65% of the total issued and outstanding shares of the Company. Aero elected to become the successor issuer for reporting purposes for all periods subsequent to September 30, 2007.
Copyright © 2007 QuoteMedia. All rights reserved. Terms of Use.
Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.
FCCN Management bailing for the exits with Golden Parachutes!
On October 4, 2007, FCCN accepted the resignations of Steven Peacock as the Company’s Chief Executive Officer, Chief Financial Officer and Secretary, Robert McCoy as the Company’s Chairman of the Board of Directors, James Bickel as a member of the Board of Directors and Gary Nerison as a member of the Board of Directors. These resignations are in connection with the consummation of the Share Exchange Agreement with Aero and the appointment of new directors do not arise from any disagreement on any matter relating to the Company’s operations, policies or practices, nor regarding the general direction of the Company. None of these directors served on any subcommittees of the Board of Directors. Effective as of the same date the Company elected and appointed Bryan Hunsaker as Chairman and Chief Executive Officer of the Company, Shane Traveller as Interim Chief Financial Officer and Secretary, and Robert McMichael as a Director.
This says it all. Over 1 billion shares!
In November 2006, the Company agreed to settle litigation with Golden Gate Investors on a past-due convertible debenture. Under the terms of the settlement, the Company placed 843,818,400 shares of its restricted common stock into an escrow account for satisfaction of the debenture. Golden Gate is allowed to withdraw the shares from escrow provided that their overall holdings in the Company do not exceed 4.9% of all issued and outstanding common stock. The debenture obligation is reduced by 80% of the average of the five lowest closing bid prices of the Company’s common stock over a 90-day period prior to the share withdrawal multiplied by the number of shares being withdrawn. Under the terms of this settlement, as of October 23, 2007, 455,333,490 shares have subsequently been released from escrow and the debenture balance has been satisfied in full. During the quarter ended September 30, 2007, 531,221 shares were issued.
In connection with the debenture settlement with Golden Gate, Golden Gate entered into a stock purchase agreement which required Golden Gate to purchase $100,000 of the Company’s restricted common stock for every $10,000 in debenture redeemed through the escrow. The Company previously received $2,206,501 from Golden Gate as an advance on future stock purchases under the agreement. As of September 30, 2007, the Company had sold 1,862,349 shares of restricted common stock to Golden Gate for $1,862,349 under the agreement, which was offset against the advance. The remaining advance of $344,152 has been recorded as Stock Payable in the accompanying financial statements.
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During the three months ended September 30, 2007, the Company satisfied back salaries amounting to $127,048 due to former employees and management through the issuance of 14,946,830 shares of common stock issued pursuant to a form S-8 registration. In addition, 7,058,824 shares were issued under Form S-8 to consultants for services valued at $60,000.
During the three months ended September 30, 2007, the Company issued 1,125,000 shares of restricted common stock as consideration for $11,250 in services rendered valued at $0.01 per share.
During the three months ended September 30, 2007, the Company issued a total of 17,500,000 shares of common stock to satisfy debt obligations of $31,495. The shares were issued under a settlement agreement filed with the 12th Circuit Court in Sarasota County, Florida, pursuant to Section 3(a)10 of the Securities Act of 1933.
Nine Months Ended September 30, 2007
2007 2006 % Change
Product sales $ 1,568,355 $ 442,565 254 %
Product costs 1,108,073 273,513 305 %
Gross margin 460,282 169,052 172 %
Deprec and amortization 243,848 215,366 13 %
Other product related costs 156,327 23,994 552 %
Gross profit (loss) $ 60,107 $ (70,308 ) -
Product sales increased by $1,125,790 or 254% to $1,568,355 in 2007 from $442,565 in 2006. This increase was due to:
· Our BioVault™ and BioLock products coming to market during the last six months of 2006. Sales of the BioVault™, BioLock, and related components and accessories during 2007 were $1,106,503 compared to 2006 sales of $133,763;
· 2007 sales from Sequiam East, Inc. of $147,165, which we acquired in January 2007. Sequiam East’s sales consist primarily of sales of parts used to manufacture biometric security products; and
· An increase in sales from Constellation Biometrics Corporation from $278,237 in 2006 to $318,201 in 2007, an increase of $39,964 or 14%. Constellation’s sales consist primarily of sales of biometric products other than the BioVault™ and BioLock to customers in Africa. We believe that Constellation’s sales increased as a result of improvements made by the new management team that was put in place subsequent to the acquisition of Constellation in May 2005.
Dramatic Reduction in Interest Expense!
During 2007 we recognized a loss on extinguishment of debt of $1,364,216 that resulted from a modification of an interest rate included in our loan agreement with Biometrics Investors, LLC., our primary lender.
Interest Expense
Interest expense was $311,870 in 2007 and $846,927 in 2006, a decrease of $535,057 or 63%. The decrease was due to a decrease in the non-cash charge that resulted from the accretion of the debt discount related to the fair value of warrants for common stock issued in connection with the various loan agreements and mandatorily redeemable cumulative convertible preferred stock.
Wow!
During the last several years we spent significant time acquiring and redeveloping our biometric technology products. As a result, we expect more significant sales of our biometric technology products during 2007 and thereafter. In addition to our own sales efforts we are looking for other companies in the industry to whom we can license our biometric technology products. We believe that this will result in an increase in the number of outlets in which these products are made available.
We believe that the following developments will have a positive impact on our future revenues:
On May 16, 2007, Sequiam Biometrics, Inc. or Sequiam Biometrics, one of our wholly-owned subsidiaries,, and Kwikset Corporation, a subsidiary of The Black and Decker Corporation, amended that certain Cooperative Development and Supply Agreement dated as of September 13, 2005. The amended agreement provides for: (a) current payments to us for non-recurring engineering costs and test equipment; and (b) a fixed royalty payment to us for the BioLock product over a royalty term that began June 1, 2007 and is extended to May 31, 2012. The amended agreement also grants us full reseller privileges for the BioLock product based on terms and conditions set by Kwikset. Kwikset and Sequiam also further agreed to conduct a two phase cost reduction project for the BioLock product. Kwikset agreed to pay us 50% of the Phase 1 cost savings achieved for a period of twelve months following the first delivery of the cost reduced product. Kwikset also agreed to pay us 50% of the Phase 2 incremental cost savings achieved for a period of twelve months following the first delivery of the phase 2 cost reduced product. We may also sell our proprietary technology to Kwikset for use in future versions of the BioLock product.
On May 7, 2007, we announced we signed an alliance agreement with a global Fortune 100 corporation in the electronics industry.
On April 27, 2006, Sequiam Biometrics entered into a Joint Venture Agreement with Changjiang Computer Group Corporation and Magstone Innovation, Inc. The Chinese and English names of the joint venture are Shanghai Changjiang Intelligence Information Technology, LTD, and New Era Biometrics, Ltd., respectively. The joint venture is headquartered in Shanghai. The purpose of the joint venture agreement is to develop and market biometric and other information technology products and applications in China and other regions and to support Sequiam Biometrics by providing research and development for new products. The joint venture agreement grants Sequiam Biometrics exclusive rights to distribute those products in North America, Europe and Africa.
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On April 23, 2007, we announced we added our 200th reseller location. The majority of these sales locations were added within the 60 days prior to April 23, 2007 as a result of the recent expansion of our sales and business development department.
Effective April 15, 2006, Sequiam Biometrics entered into an Exclusive Distribution and Manufacturing Agreement with CJCC (China Jiangsu Construction Corporation). The purpose of this agreement is to provide the conditions and terms for the distribution of certain biometric products and services of Sequiam Biometrics, including a biometric personal digital assistant. The term of this agreement is five years and may be renewed for additional 24-month terms unless either party provides the other with written notice of termination at least 90 days prior to the expiration of the then current term.
Effective April 10, 2006, Sequiam Biometrics entered into an Exclusive License Agreement with Tacoma Technology, Inc. The purpose of this agreement is to provide the conditions and terms for the manufacturing and distribution of certain biometric products of Tacoma, including all of Tacoma’s biometric sensor modules. The term of this agreement is six years and may be automatically renewed for additional 24-month terms unless either party provides the other with 30-days prior notice of its desire not to renew.
Kwikset Smartscan Agreement:
Note 12 – Commitments and Contingencies
On May 16, 2007, Sequiam Biometrics, Inc. (“SBI”), a wholly-owned subsidiary of the Company, and Kwikset Corporation (“Kwikset”) amended that certain Cooperative Development and Supply Agreement dated as of September 13, 2005 (the “Agreement”). The amended agreement (the “Amendment”) provides for: (a) current payments to SBI for non-recurring engineering costs and test equipment; and (b) a fixed royalty payment to SBI for the BioLock product over a royalty term that begins June 1, 2007 and is extended to May 31, 2012. The Amendment also grants SBI full reseller privileges for the BioLock product based on terms and conditions set by Kwikset.
Kwikset and SBI further agreed to conduct a two phase cost reduction project for the BioLock. Kwikset agreed to pay SBI 50% of the Phase 1 cost savings achieved for a period of twelve months following the first delivery of the cost reduced product. Kwikset also agreed to pay Sequiam 50% of the Phase 2 incremental cost savings achieved for a period of twelve months following the first delivery of the phase 2 cost reduced product. Sequiam may also sell its proprietary technology to Kwikset for use in future versions of the BioLock product.
The Amendment removes a development project called BioSystems from the Agreement so that it, and all future projects contemplated by SBI and Kwikset will be governed by separate agreements. SBI also agreed to deliver to Kwikset all information necessary for the manufacture of the BioLock product exclusive of trade secrets and source code, which remain SBI’s property.
Goldenstar: Fourth quarter which is underway has always been the topic of discussion concerning revenues.
I don't understand why these guys want to change the topic of discussion to try and support the issues they bring to the table which are easily rebutted.
Funny; How every lie you post is thrown in your face and you continue to be in denial on the absurd allegations you dream up concerning Sequiam.
Did you notice 10-Q which you emphatically stated would be delayed was filed a day earlier than the deadline?
California DOJ listed Sequiam product on website which you repetitively posted would never happen. All the while you fabricated a phony video in your flip flops beating it with a sledge hammer.
Some people are in denial but when caught in a lie they generally politely surrender.
You have alterior motives!
I see your Todd friend has now been released again while being banned on this board and is again on an all out agenda to slander Sequiam and now Sharper Image as well.
Hanging out with The Sharper Image CEO in a gym? Give us a break and start your own board.
We believe that the following developments will have a positive impact on our future revenues:
On May 16, 2007, Sequiam Biometrics, Inc. or Sequiam Biometrics, one of our wholly-owned subsidiaries,, and Kwikset Corporation, a subsidiary of The Black and Decker Corporation, amended that certain Cooperative Development and Supply Agreement dated as of September 13, 2005. The amended agreement provides for: (a) current payments to us for non-recurring engineering costs and test equipment; and (b) a fixed royalty payment to us for the BioLock product over a royalty term that began June 1, 2007 and is extended to May 31, 2012. The amended agreement also grants us full reseller privileges for the BioLock product based on terms and conditions set by Kwikset. Kwikset and Sequiam also further agreed to conduct a two phase cost reduction project for the BioLock product. Kwikset agreed to pay us 50% of the Phase 1 cost savings achieved for a period of twelve months following the first delivery of the cost reduced product. Kwikset also agreed to pay us 50% of the Phase 2 incremental cost savings achieved for a period of twelve months following the first delivery of the phase 2 cost reduced product. We may also sell our proprietary technology to Kwikset for use in future versions of the BioLock product.
On May 7, 2007, we announced we signed an alliance agreement with a global Fortune 100 corporation in the electronics industry.
On April 27, 2006, Sequiam Biometrics entered into a Joint Venture Agreement with Changjiang Computer Group Corporation and Magstone Innovation, Inc. The Chinese and English names of the joint venture are Shanghai Changjiang Intelligence Information Technology, LTD, and New Era Biometrics, Ltd., respectively. The joint venture is headquartered in Shanghai. The purpose of the joint venture agreement is to develop and market biometric and other information technology products and applications in China and other regions and to support Sequiam Biometrics by providing research and development for new products. The joint venture agreement grants Sequiam Biometrics exclusive rights to distribute those products in North America, Europe and Africa.
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On April 23, 2007, we announced we added our 200th reseller location. The majority of these sales locations were added within the 60 days prior to April 23, 2007 as a result of the recent expansion of our sales and business development department.
Effective April 15, 2006, Sequiam Biometrics entered into an Exclusive Distribution and Manufacturing Agreement with CJCC (China Jiangsu Construction Corporation). The purpose of this agreement is to provide the conditions and terms for the distribution of certain biometric products and services of Sequiam Biometrics, including a biometric personal digital assistant. The term of this agreement is five years and may be renewed for additional 24-month terms unless either party provides the other with written notice of termination at least 90 days prior to the expiration of the then current term.
Effective April 10, 2006, Sequiam Biometrics entered into an Exclusive License Agreement with Tacoma Technology, Inc. The purpose of this agreement is to provide the conditions and terms for the manufacturing and distribution of certain biometric products of Tacoma, including all of Tacoma’s biometric sensor modules. The term of this agreement is six years and may be automatically renewed for additional 24-month terms unless either party provides the other with 30-days prior notice of its desire not to renew.
As a result of these developments, we expect that revenues from our Safety and Security segment will continue to increase during 2007 and thereafter as we continue to focus our efforts on our biometric products.
You and the CEO of Sharper Image hang out together? Pretty bold statement that he supports your efforts to slam this company.
Knowles, You were the one incenuating Sequiam would delay filing the 10-Q last week.
Looks to me like you have some explaining to do.
Who stated Sequiam's 10-Q was going to be delayed and indicated fraudulent activity?
Wasn't a particular poster making an issue last week about Sequiam delaying reporting the 10-Q.
Filing today looks to me like a day earlier than deadline. Who started this rumor?
Full 10-Q filing in link below
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5279797
Product sales increased by $178,866 or 77% to $411,237 in 2007 from $232,371 in 2006. This increase was due to our BioVault™ and BioLock products coming to market during the last six months of 2006. Sales of the BioVault™, BioLock, and related components and accessories during 2007 were $273,229 compared to 2006 sales of $123,818. The increase in product sales during 2007 was also a result of sales from Sequiam East, Inc. of $100,432, which we acquired in January 2007. Sequiam East’s sales consist primarily of sales of parts used to manufacture biometric security products. The increase in product sales during 2007 was partially offset by a decrease in sales from Constellation Biometrics Corporation from $98,277 in 2006 to $14,972 in 2007, a decrease of $83,305. Constellation’s sales consist primarily of sales of biometric products other than the BioVault™ and BioLock to customers in Africa.
Gross margin increased to $123,610 in 2007 compared to $73,106 in 2006, an increase of $50,504. This increase was a result of the increase in product sales during 2007. Gross margin as a percentage of product sales remained fairly consistent at 30% in 2007 compared to 31% in 2006. We plan to reduce the costs to produce the BioVault™ and BioLock, and thus increase each item’s gross margin, by reengineering these products. The increase in other product related costs during 2007 was a result of the significant increase in sales of the BioVault™, BioLock, and related components and accessories.
10Q was in line with what I was expecting. Basically Biovault sales which was consistant with last quarter. Year over Year comparisons look great.
Expecting 4Q revenues to exceed 1.25 million and hopefully another big name contract closes in this current quarter.
If so, then 1Q 08 could be really big .
Gross margins improved and I'll dig out more later after rereading.
Royalty payments with Black and Decker as we all are aware didn't hit until $Q 07.
Biolock wasn't relaesed until end of June last month in Q3. So not sure what to make of royalty payments received.
Don't have a link but heard it will be out Wednesday and Sequiam products featured on page 18. Entire page
Sharper Image Catalog. Page 18 Full page devoted to Sequiam products.
Probably a little too optimistic but if Sequiam management can EXECUTE on the deals they have in place that would be the next goal to accomplish for all shareholders concerned.
It is unfortunate when one wants to use the IHUB TOU violations to circumvent a personal vendetta to post and try to create confusion.
If I had so much time on my hands I believe I could find other avenues to express my feelings. That is unless I had a personal issue with some company or somebody.
It is called credibility. Credibility as a small cap company just emerging out of R&D.
The next few months should be very interesting. Sequiam could be on the Nasdaq this time next year if they execute on the current deals in place.
Thank you for noticing. Some can't see the forest for the trees.
This ia a major milestone for Sequiam. All the while some do not want to understand the credibility of this product and the many uses besides storing firearms.
They got listed on Ca. DOJ website!
Big endorsement! Sequiam is alligning themselves with retailers with marketing muscle. Good move!
It is called Credibility