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SEC requires you to disclose ALL MATERIAL CONTRACTS and frankly, manufacturing is a MATERIAL CONTRACT.
Wrong. I have no ties to any foreign country, but am very easy to find if you know how to search. I am not tied to any manufacturer. Like I said, I have been in the position to not only "know" whom all the players are, but have tested and dealt with ALL of the finger scanning technology out there. I know all the manufacturers in Asia and India, as well as some of the integrator's whom really do not know what they are doing. If CHAYA has actual proprietary technology (probably not if the engineers are overseas because the Chinese do NOT give up their designs and IP), and she has a power management system that will run the matching and other transaction on the card - this COULD be worth a LOT of money. I would like to be proved correct on THAT statement, but I doubt it. We will see I guess. Just one question - has anyone actually seen and really tested this card? because you don;t go into "mass production" unless it passes US and Foreign certifications, whig means publicly filed applications and public approval designations. Just food for thought.
There is nothing you can point to that shows that anything I have said is false, or anything I asked to be proved, improper. You are doing actual shareholders a disservice by defending a company who is as secretive as the government. I may, or may not tell you my real name at some point in the future, but take it from me, someone who knows this industry and all of its players, I have more credibility than this board does combined, and I mean no disrespect. I say that because I have 20 years in this market, I have taken 3 companies public, I hold several biometric patents, I have designed and sold tens of thousands of biometric products, and I am an investor in this issue as well. Let's see if you can guess. At least it will bring some life to the rather dull and obvious path of this company.
Another Press Release that says nothing, and a LATE Q. And you guys keep buying and supporting the stock. Amazing.
Yesterday was the deadline AFTER the extension to file the company's "Q". Did anyone else on here notice that as well? Can YOU find the "Q" so us shareholders can see all the wonderful revenue the multi-billion "mass-production" card order is raking in? Maybe it includes a sub-license agreement with the company that actually holds the patents before they put out a biometrical enabled card? I can't wait. Point away.....
I have been trying to reach someone at Bioject to discuss a game-changing technology to improve the companies product. I have emailed and called, and got nothing. The technology I am interested in introducing to this company is already in the market and will set this companies product light years ahead of PharmaJet, Injex, Zogenix, etc...... So whats going on?
Bilboo, I am still watching, but you are on your own now. I have raised enough legitimate questions with absolutely no answers. None from shareholders, the company, SEC and USPTO filings. None of you know anything, except what you are spoon fed, with absolutely no documentary back up. None. I don't care about SMME's suppliers, but only to answer the question on whether they have "The worlds smallest fingerprint sensor" in a card. I know ALL of the manufacturers, and almost ALL of the engineers who develop fingerprint sensors. It would take almost $40M to actually develop a sensor, and thats just engineering costs. So stop blowing smoke up everyone butt.
I am not from Authentec, but I know the former execs from there VERY WELL, as I know the people at almost ALL of the biometric companies and parts suppliers.
M/C and V won't waste their time, not because SMME has a valid patent, its because the patent is too narrow and does not apply to the world of POS transactions in a way that would affect how they do business. The court said the presentation to it was a joke, and that basically says it all.
Also, I wonder how many here are paid stock promoters. I should have remembered where I am.
I was willing to introduce a path and a market for this product, but until I see it actually exists, I won;t bother. There are other companies right now in Singapore, Italy and Belgium developing this exact same technology (a biometric payment card), and I will just refer the CEO I am helping to them. Thats all.
You guys are on your own now. I am sure whatever will be done will be well publicized and you will have to read it for yourselves. Good luck to all of you in all of your endeavors.
The CEO has a fiduciary duty to the shareholders, and the SEC requires that the company fully disclose material events, almost all financial events, as well as current financials. The problem is that there has been no substantive disclosures for a long time, and you are not allowed to hide behind, "I'm keeping all the great things I am doing a secret until they actually happen", or in other words, translated to "we really don't have anything going on".
Thats true, but shareholder frustration, and the reasons for it, are indicative as to the quality of the company leadership. If invested stakeholders don't know, how is anyone else supple to?
Searching US Patents Text Collection...
Results of Search in US Patents Text Collection db for:
"Applied Cryptology Inc": 0 patents.
Yea, great attempts at misdirection based upon what you may think instead of what actually is. I became interested in this company last month because one of the biometric companies I am invested in asked me to to look into 1) if any other company is violating their IP, and 2) potential partners for the market it serves. I found out last night that CHAYA blew off this particular CEO (big mistake, because that company holds THE patent rights that covers the use of biometrics on the card, basically protecting THAT company from potential infringers, such as SMME.) This CEO told me CHAYA was arrogant, a know it all, and also has no clue. In fact, CHAYA probably blew off the only person and company that could actually help SMME. THATS WHO YOU ARE TALKING WITH.!
I ask the hard questions and I do dig, because business is not a game, its not "let's throw crap against the wall and see what sticks", whether your dabbling in technology you know nothing about, or laying up BS PR for shareholders. Most people appreciate my asking the questions, but just like politics, some of you guys want to go down in flames with your candidates.
Since this company is secretive, I came on here to ask questions, and yes, I do hold an investment in this company because I jumped the gun, and at first, thought this company had something that could be used by another company. However, the more I found out, the less I found out, and thats NEVER a good sign. Keeping this stock at a market cap of $25M is hurting you guys big time, because eventually, the market makes corrections on all companies. The CEO, carefully floating out hope for a better tomorrow, without substantiated proof in the form of actually executed agreements and 8K's, is just bad.
And thank you for the apparently attempted condescending post. Obviously, while I may be fairly new to this issue, the fact is that makes me no less informed than you apparently are. Its a shame that an explanation of this patent is coming from a shareholder rather than the company itself, but thats to be expected I guess, especially when this company has been riding on a magic carpet for so long. For investors who know nothing about biometrics, whenever a new company decides to play in tat field, it woos shareholder interest without knowing salient facts about the technology, its prior uses, its protected IP, etc........it just tells a great story that shareholders latch on to.
Personally, I see a huge problem here - misinformed or uninformed shareholders, possibly disclosure failures by the company, as well as a lot of hype about a product that was suppose to debut early last year. A lot of "its coming" and "mass production", etc........which as you must know, are nothing but red flags. PR news is suppose to be about material achievements, like filing and being awarded patents, sales orders, especially in the company's early stages (I think we are well beyond that already), strategic partnerships that will help grow the company in its targeted market - not "we are talking with a globe card issuer" - because that does't say anything. An agreement with that card issuer is though, and that would be newsworthy. To me anyway, it appears all of the PR is designed to try to keep this companies market cap up, on the hopes of the shareholders invested in this company. When a CEO fails to communicate to its shareholders, and decides to keep things secretive (thats if there really are things going on), it violates not only that positions fiduciary duty, but also compromises shareholder support.
If the company needs a reboot - say it. If the company is working through problems - say it. If the company needs to regroup and restratagize - say it. Just don;t come on here and try to paint a picture that does't exist, whether or not you are getting paid to do that.
I have read as many K's filed by this company as I could. I am pretty good at reading detailed documents and can't find where the value is in this company. It has worthless IP, is allegedly developing biometric integrated products (without the proper licenses from the companies that actually hold patents on them) that it incessantly hypes, it puts out PR's that basically is business plan info 101 and doesn't actually say much, has no sales, not for years, has a secretive CEO that appears to be withholding a lot of information that the investing public needs, and is sustaining a very artificial market value of $25M, again, on nothing but air.
The keychain technology is light years ago, and in fact, I know the US company that holds the patent on a USB thumb drive for medical records, and its a broad patent.
And so you know, I became interested in this company, and invested several thousand dollars, because I see where this card, if it really exists, can be useful. I know a CEO of another public company who can monetize this card in a different marketplace and industry, but I understand now, that my CEO friend is now negotiating with the actual patent holders of this technology, and I know she will cut a deal with them, like she has been doing for years.
If the card SMME claims it has does in fact exist, then you shareholders have a lot of work cut out in front of you in moving your CEO. Good luck.
Been released by the SEC? Wow, of all of the corporate information over the years I have read, this piece is a PIECE that says nothing at all, basically like everything else I have read from this company. And it still maintains a market cap of $25M, on what? air? This is becoming more of a joke and a bust than I first suspected.
Well then why all the misplaced HYPE about putting biometrics into a credit card, as well as claiming proprietary technology when in fact there may not be any IP protection for it, as other companies, years ago, patented that use.
Thanks. I found nothing at the USPTO patent search site, nor at the IBM Patent search site. If there was anything smart metric owned rights to, there would be recorded assignments, and definitely an explanation in their annual filings. Nothing.
I am more interested in clearing up the patent claims. Obviously the patent the company is relying on has little to no value. Thats why I asked if someone on this board can point to other patents they filed, because right now, the 2 patents I cited earlier aren't owned by SMME
You mean she/he did a Kaitlin Jenner?
OK, I read through the last 10K filed for 2014. I also read the "patent '-464" this company seems to be resting its hat on. I can tell you this:
The patent has absolutely NO PROVISION for ANY biometric technology - none at all. So when this CEO says it has patent protection o that - it does not. At least not according to the USPTO. I will tell you who does.
USPTO Publication No. US 6325286 assigned to AT&T. As well as USPTO Publication No. 6816058.
BOTH of these Patents were issued covering biometric integration into credit/smart cards.
I could't find a single stitch of an awarded patent, or even a patent application filed by, or even on behalf of SMME indicating any IP protection for a (biometric credit card). Even any filed applications by Colin Hendrick, obviously a relative of this CEO.
I don't intend on panicking anyone, but when the CEO is touting a biometrical integrated card and that the company has patent protection, but fails to make sure investors know one has nothing to do with the other, while there exists several other patents already issued, years ago, covering this technology, then its time for answers.
Hmmm....out of curiosity, I checked up on patent # 6,792,464 which was the subject of the lawsuit. Its one of several patents filed by individuals covering electronic payment systems. I get that, and it was to narrow to make MC/VISA liable. OK, but I can't find ANYTHING regarding any biometric patents? If you guys have information on issued patents, please provide those patent numbers here. Thank you.
Why all the cloak and dagger just to talk with her?
What are you referring to? Please provide your details.
Thank Bilboo. I will reach out to her and would be happy to connect her with that company in Vegas. I am sure a good MDNA would make everyone feel better. Also, if you have Dukes email, PM me that as well. I will tell you off line who I am. Then you will understand.
BILBOO, if she refuses to answer emails and return calls, why bother. The CEO I am referring to has called and emailed several times. And the worst thing is her office is in Las Vegas as well. And QUALCOMM's sensor is just a science project. It is hedging its position in the PDA/smartphone market because its behind the times. They are a GREAT BIG company, so I am sure they developed something....but the practicality of using "sonar" type technology makes the product less than marketable, because it would suck all of the power out of the power source that can actually fit on a thin card.
If you look at an earlier post, I am not trying to kill the enthusiasm here, but this company seems to put out releases without any real substance that investors can rely on, and she is basically a one woman operation which will not do it in this male dominated industry. Trust me on that as well.
You need a real BOD to keep her in check, to keep her accountable, and to help her guide the company into a market better suited for her technology that she can enter TOMORROW and be the sole operator in. But she needs real partners in those areas to do so. As a shareholder in SMME, and as eel as several other biometric technology/products companies, I tried having this particular CEO, who lives in Vegas, contact Chaya. But it seems CHAYA is smarter than all of us.
It's not a criticism per se of her, but it could easily go there. If you are going to play in this market, there is opportunity in the right market segment with the right technology. If she refuses to even talk to other CEO's of publicly held biometric companies (especially one who has established the fingerprint product market here in the states), then she is doing a complete disservice to her shareholders, and when you are the CEO of a public company, thats who you work for. You reap the rewards, as well as answer to the base that supports you. You need a real Board of Directors to keep the CEO in check.
The blind faith approach needs to stop, and when you put out a press release in 2013 that says the product will be in the market in 2014, it better be. I don't begrudge BilBOO and the others who "hope" this stock goes somewhere, because it could. When you lose a major lawsuit, and your competitor starts to corner the market with its technology, its time to take the side blinders off and move the company into a different direction.
Also, having a LOT of biometrics design and manufacturing experience myself, if she didn't spend at least $4M on direct R&D, then I have to ask what does she actually have? Biometric engineering costs a lot money. Miniturization of power consumption/sources, boards, chips, memory as well as writing proprietary algorithms all cost a TON of money. Realize that Apple has cornered 85% of the worlds flash memory, and you need flash memory to store the initial enrollment code off the print. None of this companies resources seem to be in house, probably almost all outsourced, where the company controls less and less, especially if using overseas resources. Yea, stock promoters and funds will say it cuts costs, but you also get what you pay for and in my experience, takes many more months to complete.
This company could do something with its technology (provided it actually works as claimed) but not in the POS market, not anymore, and certainly not now. IMHO
Oh, and one more thing, THAT WON'T HAPPEN. I know for a fact the CEO of the company that OWNS the IP and that is IN the RIGHT market for this product tried contacting CHAYA numerous times, and she refused to respond to talk about anything. This is how I know this is all a non starter. What CEO refuses to talk to another CEO, especially one that has almost single handedly BUILT the biometrics market from the standpoint of integration and having a track record of selling $10's of MILLIONS of dollars worth of biometric products that SHE developed over the years at other companies.
The rabbit hole is deep, and I suggest you bring a backhoe!
OK, BILBOO, lets take a look at this practically, because you "think" you may know this industry via press releases. In reality, QUALCOMM's sensor uses almost the identical technology AUTHENTEC used, and now apple. Over 250 RF antenna are embedded into their chips that measure the ridges, valley sand swirls several layer deep, so if you think sensor are capacitive (reading only the surface of the skin) you are 15 years behind the times.
I also assure you that QUALCOMM's recent release is really no news at all. First, they have not actually manufactured these, and they are impractical because of 1) power consumption usage in order to capture the image, and 2) if they were to manufacture these sensor, they would cost in the neighborhood of 4X as much as a plain RF silicon swipe or area sensor.
Guys like you are very dangerous to investors, almost like a politician, half truths behind half facts. You take something you read and spout it off as truth, then spin it as if QUALCOMM would want to buy SMME - in your wildest dreams. In fact, now that I understand CHAYA's card uses a battery to operate the capture and processing of the biometric sample, thats in direct infringement of a patent held by one of the other companies I am invested in.
Instead of defending this CEO and the company's product, all I say is prove it instead of relying on what could be. Test this product side by side to the ZWIPE product and publish the results. Show a side by side comparison focusing on the difference of the technologies in each product from finger sensor, cost to manufacture, processing speeds, battery life, etc........
If this product is as GOOD as YOU think it is, it would behoove CHAYA to demonstrate its superiority - and as long as she licenses the technology patent from the other company I am invested in, then I will buy a BOAT LOAD more stock - a BOAT LOAD!
If CHAYA's card uses a battery, then her entire system is violating another US companies patent.
From SMMe Website:
"SmartMetric, Inc. is a technology engineering, research and development company that has developed miniture electronic systems and software for use in the field of Biometric identification and validation for the payments industry as well as the Corporate and Government sectors."
Where is the quality control here......look how they spell miniature! Really, this is a rinky dink outfit to say the least.
How about the CEO proving what she says is true? Proprietary? miniaturization? Is that what she told you? And you believed her? Biometric cards have been around for more than 10 years, in various prototype stages, and she certainly is NOT the first one to our biometrics on a card. That was first done in 2004. This is the problem that well intentioned investors have, because a technology and its application appears novel, they wishfully believe what the company says as true. Like I said, there are only 2 CEO's who have done this, and brought actual products to market. This one is incapable because I know this industry, I know every player, every manufacturer, I know every component supplier, and I have been investing in this industry for more than 15 years.
If she had proprietary technology, one of the big tech companies would have offered 100's of millions of dollars. She is nothing more than a technology integrator. I doubt she developed the silicon sensor, because if she did, everyone would be knocking down her door since Apple bought Authentec.
So spin misinformation any way you need too, but you can't BS or sugar coat someone who knows this industry inside and out. Sometimes the best CEO's know when to get out of the way.
Sorry, I didn't see this post. Allegedly, its "proprietary" according to the CEO. She is VERY vague when it comes down to disclosures
Actually, I gave you the best answer and a pathway to ask questions, unless you are a company plant.
I am not saying it can't happen, but a duck is a duck, and I know a duck. She should have partnered with a sensor company, hired in house engineers to maintain control over the integration of the sensor into the card, concentrating on power management and matching speeds, partnering with card reader companies, launching a test pilot with some local community bank, do that for 6 months, take your results, then raise serious money, because only a well funded company, in the POS space, can survive, and sorry to say this isn't. Yea, she got the name of the company out there with the lawsuit, that did nothing. she may of that that could have been used as a marketing tool. I have personally called her office, and can't get anyone on the phone.
ZWIPE has HUGE contract with MC. SMME has nothing. ZWIPE is using sensor technology supported by a company that is well funded and has sold more than 300 million sensors worldwide. SMME cannot possibly support any large real orders, production, manufacturing or otherwise with relatively no money and can't raise money until 1) they get a very large order, and 2) SMME sensor technology is proven. In fact, while the CEO claims its sensor was developed and proprietary to them, I haven't seen any reports or testing to determine if it is in fact proprietary or Chinese knock off sensor. In fact, I know biometric CEO's, and they do a LOT of puffing, going back to the Sequiam days (2004-2007).
She tells a good story, picked a huge market, but no one on here has any idea how hard it is to develop this technology, test it in real focus groups AND in the field, and deploy it into the market. There are only 2 CEO's who can, and have done that. This one, I doubt it strongly. I was at Authentec, Identix, Atrua, Fingerprint cards, Next Biometrics, as well as most of the Chinese knock off companies. She has chosen the wrong market because there is just too much scrutiny and it will cost $20M just to break into. And if you, as investors don;t know those names, then what the heck are you doing in this stock?
Just curious, based on what? Antiquate technology that another, well funded global company has already implemented with the largest card issuer in the world? Or the twenty some odd press releases that basically hype absolutely nothing except that "its coming". So is Christmas. This company is so behind, and all because this CEO has no foresight and absolutely does not understand this market at all. She is waiting her time chasing ghosts, this company is woefully undercapitalized so big companies that may be interested, will not bother because SMME could't support real manufacturing based on real orders. I hope I am wrong, because I don't like throwing away thousands, but having been invested in over 7 biometric companies, I see the writing.
Thats why she should go to AMEX. Also to note, her saying that the company is talking to a global card issuer probably violates all sorts of SEC and FINRA regulations. The only practice a CEO should do is comment after an 8K is filed, not before. This is what I mean. I know this company is out west, but you can't run a small public company like the wild west. All these no substance press releases scare away real investors, not people interested in the short game, and if this company really wanted to grow up and be a big boy company, then it would seek out $20M for operations to implement its roadmap. All the no substance PR just fuels the fire for criticism. But the POS market is the wrong market for this card because ZWIPE is leap years ahead. Also, there are some biometric companies that hold very strong patents that may challenge SMME's use depending how SMME's technology actually works. Do your own DD on this.
I am a shareholder, and I know this industry. But if this CEO is incapable of identifying the right market in which to use this product, she does;t deserve to continue to run the company, and spend investment money. Mass production of cards without a single order, or even a collaborative contract with one of the large card issuers is absolute suicide. Period.
Looks like ZWIPE is way in the lead with a MC contract. I watched its' video, and it seems a very good product that actually may gain some traction. Unfortunately, the way this works in the market is that, VISA always follows MC and then so does AMEX. Instead of announcements with no value, take the $400 the release costs the company and hightail it to AMEX offices because that money is better spent on airfare (thats if SMME's technology is as good or better than ZWIPE) and try to sell them. Unfortunately, ZWIPE uses a sensor whose manufacturer has already sold more than 300 MILLION sensors into the market, SMME sort of claims proprietary fingerprint technology, but I seriously doubt they manufacture the silicon, because that would require a real investment of about $100M to set up that kind of manufacturing.
I would also suggest looking for a CEO with actually biometric market design and sales experience, and there are really only 2 who have the right credentials, but I have no idea how to find them
And don't get me wrong, I would love to see this company do well, as I am invested in several biometric companies, and have been for over 12 years, so I actually do know something about this market, from home security, POS and health care. I just don't see without a major adopter like MC, AMEX or VISA, this is going to go anywhere, and there have been other companies who developed the same types of cards years ago (biometric payment cards), that failed that route. Just take a look at the Smart Card route, Burger King was one of the earliest adopters in the US, and it was basically relegated to a rewards card until AMEX picked it up (after 10 years) and is using it more for marketing purposes than secure transactions. When Apple bought Authentec, it was game over for these types of cards, and as the younger generation gets older, even plastic credit cards themselves will fade away.
Yea, this is innovative, but the resources and the direction need to change IMHO.
Bid .1101 Ask .129, trading volume 20,000 - That IS trading at .11 cents my friend. And mass production means absolutely nothing, this company and its technology is behind the market by 5 years. Unless there is an ORDER for those cards, its just throwing corporate resources down the drain. It happens when you have "professors" running a company who "think" by mass producing product, it will work its way into the market, develop traction and become accepted. This technology WAS accepted, via the smart card, but that cards time has come and gone as well. There is only 1 market for a card like this, but I am not going to give this CEO any ideas, let her figure this out.