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Yes we did read it.
We understand exactly what you mean when you ask questions on this board about SMME and the CEO. We also note how you ask those questions, and thus we also infer other things about those questions.
The answer to your question is No.
BO
I am not a blind follower either..
Seriously, if you think we minnows can dictate terms about announcements to the world, to banks or card companies or any other entity with whom we wish to do business, you are way off the mark.
Do you not think that those companies would ensure nothing is mentioned to the world until they were confident their own reputations would not be scarred and that the product was all they hoped for?
I cannot say who SmartMetric is engaging with. How would I know? But if the company is in discussions then it is surely up to those companies and their timelines, not ours.
If I owned such a company I would not allow SmartMetric to say a word to the world Until I was ready to sign up, and that would take a whole lot longer than it has taken the majority of shareholders on this board to part with their cash and invest in SmartMetric.
Do you really think its up to BB or Nuts or Duke or Penny to make you aware of stuff on this board...?
If they know, they shouldn't know. And if they know, they shouldn't say!
to be fair
I am not concerned about secrecy. I think that, IF we are embroiled in negotiations with a major card company or bank or other entity worthy of note, it would be imprudent to divulge that UNTIL that other company has done its 'sea trials' and has done all of its (dare I say it?!) Due Diligence and is completely happy with it. Only then should an announcement be made, jointly, for maximum impact. Now if I was to lead a major organisation with its huge ego and reputation I would not want the world to know I was dealing with a minnow who had a product so sketchy. I would keep that to myself and tie up the company (SMME) with all manner of NDAs until it suited me. And then there is the challenge of keeping the two major card companies, with whom we have been court battling recently, out of the picture for fear they would attempt to sway any likely partners for SMME.... at least until the deals are done.
As for the shares....well I don't know how to address those concerns. I note that it offends many.
My position is this: I have been accumulating for nearly 16 years, over three different iterations of the company as it morphed over time. I am fed up too. I have shares that will be worth a dollar when they are worth a dollar, or 20c when they are 20c. That means that when I sell them I will get "X" amount of my shares x that dollar or 20c. And if all that happens I will be a very happy boy.
As for the delays and broken promises...again, I don't know how to address those concerns. What I do believe is that there have been some strange goings-on, and some situations where I do believe our CEO has attempted to protect us all. What do I mean? All those alleged deals with brokerage companies in past years for example, where deals were done and then supposedly changed by the other side at the 11th hour. If that reasoning is to be believed, and surely you can imagine it happening can't you, couldn't we be worse off than now? I can imagine that other companies would want to dominate a minnow like SMME (assuming there is a product... Yes I Know what you're all saying) in negotiations to get a better deal for itself. We are to believe that has happened severally over the years.
NB: I am not a sycophantic fan of our CEO. I make no comment about why the assets have been moved to and fro, or about financing medical events, or travel and car expenses etc etc...none of it. I choose not to waste any more energy focussing on those issues as it has caused me far too much angst to now. My only concerns are about getting this thing to market.
Whats your B share issue? The issue is around how to value the company when the shares are diluted.
Is that Right? I am comforted by knowing the value a share does not always match up with the value of a company. In any case, like you I represent a cohort too. Our agreed position nowadays is that 100% of anything (vastly diluted or not) is better than nothing.
GLTA
Joker & Bull
I agree with your cautionary notes, completely.
I am not advocating that the CEO is wonderful or that things have gone satisfactorily.
There may well be a few more surprises we are not happy about.
The whole thing is a minefield and our investments are fraught with danger on a number of fronts.
My complaints on this board have been about people commenting on news and developments they know nothing about, or shouldn't, and about their continual complaining on this board. No-one here can change anything and the CEO doesn't care about anyone's complaints here or on her website. You may as well do it in front of the mirror. Therefore, let's let it ride or take to an arbiter.
actually she can,
I did qualify my original comment by saying that it must be legal and compliant with SEC guidelines.
Where these are concerned she needs to be careful.
However, there are many things she can do with the company without consulting you or me Joker.
She does not need your permission or mine to take the company in a particular direction, and she doesn't need to answer your specific questions if she believes it to be inappropriate to do so.
not a blast
but very gentle words from me actually BO. My aggressive nature is completely different. And it wasn't childish at all. Yours however, is very childish. What a moaner you are! What a whinger!
We all agree that those things you mention will stop all the negative comment, but you need to take some responsibility for yourself and realise whats what.
What you fail to acknowledge is that the CEO of this company owns the vast majority of the outstanding shares and therefore can do as she pleases pretty much...as long as she is compliant with SEC and law.
It does not matter what you or I believe.
And there is absolutely nothing you and the rest of us can do about it. That is the truth of it.
Would we like it to be different? Yes.
Does she have to do as you wish? No.
Would we like her to answer all our questions to our immediate satisfaction? Yes.
Does she have to? No.
Would we like to have our CEO making things happen quicker? Yes.
Does she have to do that? No.
Yes / No
Yes / No etc.
We have all tried to get answers here and on the SMME site; questions we also thought were appropriate and relevant and hard-hitting etc.
We are all pee'd off BO. I have been ignored here and deleted from the company site too, so I know what you are speaking about. But again, thats her privilege. She owns the company and the smme blog too.
Now you can keep on bleating about it here or elsewhere but she will still ignore you. You may as well suck it up.
If you don't want to suck it up anymore, then leave us alone, go and complain to someone who can actually do something for you - like the SEC or lawyers, 'cos we all can't help you, and your moaning is just plain annoying and churlish.
It is not the role of investors here or elsewhere to inform you or anyone else about where the company is up to with its plans or development. Nobody outside the company should. And if they do, they shouldn't. You know that. So why ask?!
wake up BO.
none of us know if this is going to work out or not. I'm coming up on 16years and I'm annoyed too. Very annoyed. But what am I gunna do? Whinge on a public board to everyone who is looking on? Cry like a little baby or girly-man? If I get to the point where I have had enough, where I think they are doing something illegal, where I think I am being scammed...then I will do something about it - SEC , legal action, whatever. But I won't cower and cry on this board like so many do here. This ain't the place for it. And it ain't the pace for investors to reveal information to others who present themselves and ask questions here. That ain't the job of posters here. Thats the job of the company alone, and if you or anyone else feel they are not getting satisfaction through that avenue - bad luck I guess.
As for the constant whinging about secrets. Goodness me! Why on earth would a company reveal specifics about the way it intends to do its business until there is final agreement between the parties?
There is so much to these sorts of agreements, including NDAs and trials that can take ages. And if we are indeed dealing with major organisations who may want to take our product (yes, if there is one...) there are many wheels with many cogs before sign off. No major organisation is going to want to expose itself prior to the final decision by its puppet-masters. As for secrecy about locations and partners in production. Again, why expose themselves prior to the big day? Why expose themselves to the major entities that we have fought over recent years? Do you really think there would be no reprisals or attempts at reprisals?
Think about how many times people on this board post about information they have heard, or think they know. I've done it too, but no more. It shouldn't happen and you know that, or should know that.
Go to the company representatives, or be patient, or take appropriate legal or SEC action if you are not happy, or go away and forget about it.
But to all the whingers - stop whinging. Its pathetic and childish.
I hope so too,
I really do. But you know I am sure I am not alone when I say that I have been told this before.
I am coming up on 16 years. Every time christmas approaches I get the same news story from someone in the business that sounds exactly the same...."this christmas.... blah blah blah."
And that has been part of the problem I reckon...too many people talking about stuff they shouldn't.
Too many putting out stories and half truths, pretending they know stuff. Many of us have fallen for it.
GLTA
Such a giver!
I've never known anyone who gave us so much.
You are truly remarkable.
Amazing insight
of course you are so correct LNM. Thanks once again for putting us straight.
thank you
for pointing that out LNM. I am sure we all appreciate your insight.
FINALLY
Finally I congratulate our CEO for the content of last night's press release.
How hard was it? .. to get the facts out... that it will be a limited (yet large) first round production for the purpose of trial an testing for financial institutions... with a scale up of production once....
and some details of the funding was managed.
This, surely, is all we ever wanted. Its what many of you bleated about. Its all I wanted!
It seems one of us sacrificed himself on the smme blog to get this info, so I'm sure he'll be feeling a bit better.
following up your comment Joker...
I have been in contact with that member you speak of Joker (ActOn), who has since been dumped from the smme site - can't access the site at all - for asking what some might consider to be hard questions. ActOn was asking questions of the CEO that many were asking only of themselves.
Questions such as:
how many units is "mass production"?
how much of the money raised will actually be spent on production, and what amount on other things?
how much money was raised exactly?
These questions were asked because we are all sick of appearing like fools, trusting the actual words written in press releases, and then later being told we all misunderstood the words - as if we don't understand English.
Anyway, that's that and ActOn is off the radar, but I am still here and I won't go to the smme site. That place is supposed to be for "sharing of ideas and thoughts" but really its only for those who want to suck up to the CEO. Anyone with a contrary opinion is criticised, told they don't understand the machinations of the SEC; all by a person who can't be bothered to correctly spell the names of contributors (shareholders who have written in) or write a series of sentences without error. God help us.
Wanna bet on the outcome of this recent event?
My bet is "mass production" means 500-1,000 cards, produced in a mass production facility, for marketing purposes.
My bet is the money amount is about what they wanted to raise, and more will be needed.
My bet is that they will succeed in making these cards and will succeed in marketing them - to our collective satisfaction. Given the lag time for parts to arrive as stated...how long...?
And if I'm right this time, and it all goes according to Hoyle, I'll apologise for ever being a nay-sayer.
And the rest of you.... getting excited 'cos we are at 10cents ???
we only need a bit more money Mool.
let it be yours.
surely you are so very happy with the way things are going, and you can be our saviour.
go on...
BaleOut
I don't think for one minute that you need or crave a supporter, or that you care too much what some others think about your opinions. But I'm gunna tell you anyway that I agree with you. And while I cannot remember all of your posted comments, those of recent times resonate quite significantly with me, and with my prior rantings.
Nobody needs to feel sorry for me but I am one of those who has scurried on down to the bank many times over 15 years, from the $1.50 US and all the way down, sadly.
I think that, even if Smartmetric does succeed, and I now doubt it will, it will never excuse our CEO for her behaviour toward investors, nor those 'sleepers' who have continued to trot out the absolute rubbish we have seen in past years. With all the false promises, lies (there can be no other word for some of it) and smoke and mirrors designed to mislead or at least enable folk to misconstrue the true intent of the wording, we should indeed be angry and unforgiving.
Even if Smartmetric does in fact get off the ground and make a dollar, or God willing heaps of dollars, the way this mob runs this outfit is inexcusable. Companies make announcements all the time, about what it plans to do or with whom it is negotiating - but not this mob. CEO hides behind alleged ASEC rules. CEO does not like anyone having a negative comment or challenging and does absolutely nothing to quell the hubbub. CEO treats shareholder dissent with disdain...not appropriate - pathetic really. And who on earth would make an agreement with other entities to raise funds, only to ditch it last minute because the other side wanted too much for the agreement? Surely this should have been nutted out in the first meeting, not come as a surprise last minute. And on and on it goes....
Best not even talk too much about our most highly regarded legal rep - champ!
Now I have written off my investment, significant though it is, and I am hanging around for a bit. For those smarties who think I should sell in this case should perhaps have a good think first - its worth next to nothing now so may as well ride it all the way rather than give it away. Now I'm sticking around to poke those who need it - those who trot out the rubbish, those 'sleepers' and others. I struggle to imagine the subject of the next round of requests from our illustrious leader - what "amazingness" is just around the corner.
And I will keep some happy if it gets off the ground - I will admit it if I'm wrong, but I reckon we've been had. To those eager supporters who always want to think the best, without making it personal, I'd like to hear less from you. For those who have 'seen' a card, you haven't used it have you? Its not a production version is it? Its a hand-made prototype isn't it? It has a representation of all the working bits, but it doesn't have all the real working bits does it? That won't happen until we get the funds and commence production of trial cards to disseminate to potential clients - will it?
PoorP-S
to answer a few questions..
the breakout point if no funding = zero of course. No funding = no company.
funding this quarter I'm hoping - another one hoping for the best. We have had 60 such hopes.
60 quarters = 15 years - and counting.
don't worry about the $300,000 owed to CCH. If this thing doesn't come off she has what is due to her.
If it does come off then $300,000 will not matter one iota, 'cos there will be so much money in the bank you will be very pleased to double her share.
I agree Potts.
this goes to the points I have been labouring for ages now - ever since I lost heart.
Many of us have listened to the ramblings/propaganda spewed out by a select few.
We've been 'sleeping' instead of really concentrating.
So lets not have the continued rubbish being spewed out by some 'sleepers' that think they are so close to the centre that they can influence us or placate us, or even tell us something new.
I have fallen for that several times too. Lets wait for the proper press releases at the appropriate time by the appropriate messenger.
We were always led to believe the lawyer work was to be sorted by 'old whats his name' - best forgotten that guy. So why we were to even have to contemplate picking up a tab is beyond me.
Another example of being misled.
I used to believe and now I don't, but I'm willing to admit it if I'm ultimately wrong.
PoorP-S
Well it is Joker!!
Thats exactly whats going on, and slowly.
And this time folks have short arms and long pockets it seems.
And this time folks have a little more wary of rubbish statements.
And thats the problem. We all seem to agree that there is money out there, even in the pockets of those who have coughed up before. But because of all the rubbish statements, lack of progress, doubt in the collective minds about how the company is being managed and more, we ain't so forgiving and giving this time around.
So the funding that should really be very very easy to raise isn't this time around.
GLTA, including me.
Where do you get your information?
We would all be very interested to know where you get this information Mooloolaba.
You wrote..
"I understand that once SMME finalise the current shareholder raising which is close to being finalised , they will be moving directly into production to meet current enquiries from Banks and other institutions.
it is my understanding that SMME has been approached by range of banks and other institutions to produce a card for there respective customers."
Gee thats amazing. How do you know it is close to being finalised, and how do you know certain entities are calling us?
We've all fallen for this many times before, so: Serious message to all - best to keep this sort of rubbish to yourself and let the company release proper information in the proper way at the proper time.
I'm still waiting to be impressed after 15 years.
PoorP-S
Thanks for the pep-talk J.
Wow, you sure are 'in the know', aren't you?
I don't recall if I have ever heard such positive talk from people so close to the Smartmetric power base before. And remember, I've only been around this lot for 15 years. Oh yes - I have - only about 20 or 30 times J. Whats your count?
Pardon me for asking, but just how long have you been in this mob? You speak with such passion, it leads me think you haven't been lied to yet. Have you heard all the positive talk from Smartmetric power-brokers before? I've only been hearing the same rubbish for 15 years J, so forgive my scepticism won't you.
The real issues are many, and they include but are not limited to: the lack of funds in our account right now, the lack of communication between the CEO and the shareholders (don't bother with the rubbish about compliance as companies often communicate with shareholders - so if you or anyone else wants to come back with that argument, keep it to yourselves), and the biggie - why is it taking so long for a very small amount of investment money to come in when this product is supposed to be world's banking and finance and security saviour? Seriously, there are squillions of rich people and institutions out there looking to invest.
I reckon I'm right, and we're now on a joke. But I hope I'm wrong.
PoorP-S
Happy Birthday to me.
Yes – its my birthday. I am nearly all grown up and wearing long pants now. And I am nearly old enough to get my driving licence. Today I turn 15.
15 years ago, on the 22 February 2000, I first went to the bank to invest in this company. Well it wasn’t exactly this company back then. It was FastEcom, a company that wanted us to invest in a booth that operated much the same as many now seen in post offices, where you can make all manner of transactions and pay bills etc. These were to be set up in major shopping centres across the USA. Then there was SmartMicrochip, the precursor to Smartmetric. Bygones!
So here we are, on my birthday, and I have been to the well many more times since that first time, and invested a bucket load of money for a company and product I once believed in. Many of you will think I am nuts for doing that, and there are plenty more too that wonder why you did it also. Perhaps we should all have a good hard look at ourselves.
And after all this time I can say I truly believe we are no closer to world domination through our credit cards, other cards, medical key ring , bitcoins, all those products allegedly just around the corner. You can argue with me on this point if you like, but unless we get funding for production we may as well be at the same point we were 15 years ago – nowhere, dreaming. Now, though, we have all those people working in factories all over the world. We all know someone has had a dream ride though don’t we?! Livin’ the dream… I think back to the poor person who invested a vast sum a few years ago to get us over the last hurdle. Did First Class Travel burn that inject? Now we need to invest more again, and again, and again...
Is anyone to be believed? We have all those clients waiting, all those contracts in folders waiting to be signed, all those phones calls each week from prospective buyers. Uh-huh. Right! It matters not what our illustrious leader says, or any of the self-appointed Smartmetric gurus on this and other boards, or those supposedly “in the know” both in Oz and USA. There has not been a whole lot of truth evident thus far. I used to believe we were on a winner, and now I don’t, but I hope I’m wrong.
Join with me if you will, and celebrate a wondrous 15 year ride that has gotten us to this point. What a joy its been eh!?
I hope I’m wrong, and if I am I will certain admit it.
GLTA
PoorP-S
More rubbish over and over.
Phinx - its not for you to say who is welcome on this board. Its not just for those who support smme or think its doing great job
Glenc - I agree with what Phinx had to say about your post, and even though you are a moderator you will be getting complaints. Some content of your recent posts are impacting, or have a serious potential to impact on, privacy laws. I note that the author (Colleen) sent those emails 'way back when', and I got a truck load of that rubbish back then too. But I don't agree that because they were sent by someone else, and even though written exactly as they were back then, gives you a lawful defence against naming certain people. Some of these people have a lot to lose, right now. Some of those people were never copied into the original emails from Colleen or even had knowledge that they were to be named in them. Your actions could be causing innocent individuals a lot of grief, simply because of the ramblings of Colleen.
Now we have another waste of time - a smme site blog - where nothing can be said by management, the same again. Whats the point of it?
In the meantime, let's just leave the innocent people alone and not name them unless we at least know they were willing participants in prior ramblings.
I'm coming up to my 15th anniversary of being told this is going to be our year. What a load of rubbish. I used to think I was on a winner but now I don't. But I hope I'm wrong, and if I am I'll admit it.
PoorP-S
Nuts & R43 - Rumours are not news.
Don't get carried away with yourselves. As soon as someone on this board puts out a rumour saying he/she (??) heard something from someone who knows you are all tongues out and salivating.
While LMU is trying hard to maintain positivity and interest, private conversations between various of us and those allegedly 'in the know' has what's gotten us all into difficulty over many years; financial difficulty, family and relationship difficulty, and arguing between each other and management on this board. How about you all keep these rumours to yourselves, as time has shown, over and over and over, that they cannot ever be trusted. Why on earth would anyone think that this time is different?
You wanna make another contribution, go right ahead, but keep rumours and private conversations between you and your mates to yourself. We know those people can't say it themselves so others do it for them....fallen for it myself once or thrice. It could be unfortunate if people invested any more of their hard earned money on the back of rumours seen on this site. It'd be more prudent to invest on the back of real and supported information or actual results being seen. Gee, wouldn't that be a nice change up? Results...supported info..?!
I hope I'm wrong.
GLTA
PoorP-S
there is no reality at this time..
..not until the people who really matter - the owners of this company - get to see the card used in the manner it is supposed to.
So far we have seen a C-grade home movie of a card stuck into a reader and a piece of paper spewed out when a button was pushed. Big deal. As others have since suggested, we do not know the test conditions and we haven't tested a different card. So, sampling is not sufficient proof up to now.
You sound so positive, and I am glad there are some like you, to be positive at this time. Perhaps you can be positive enough to put in the 500K we all need, again, because those of us who have been hearing the rubbish for far too long aren't going to on the face of what we have seen, and because of the way we have been ignored.
You seem to think CCH is some kind of messiah the way you laud her. You seem to forget that she and her dreams would be absolutely Nowhere without Our money and support. She has been well supported by money offered by people like you and me. Now its our turn to be supported by our CEO. Sadly it takes only personal comments against her ability to sing, dance and do other things that illicit any response from her. Sadly she won't respond to any questions about This business, the one we are interested in.
Tell us what we want to know, and guess what - that 500K might just appear.
Here's a few Qs for those in the know...
1. how much money do we have at bank right now?
2. where is our other messiah (the great hope brought into the fold last year to advance our cause)? He is very quiet.
3. what is our CEO doing right now to get the funding? (hopefully she is setting up the details of the agreement with whomever prior to work being done, so we don't have to shut it down last minute when we find out they want too much - per the last two entities).
4. I asked previously if anyone knew if this funding was for a sample or for mass production. I take it the silence means either no-one knows, or those that know don't want to say (so they can have deniability later, again.... remember, we don't understand plain English, evidenced by us all misunderstanding earlier messages).
I hope I'm wrong, but it ain't looking good. If I'm wrong I'll admit it.
GLTA
PoorP-S
What is there to say...?
yes a new website. But is same old information in a new format.
What is the same is this - spelling mistakes and poor layout.
Is anyone feeling re-assured? Does anyone think we've reached the point where we are ecstatic about the design and content of our website?
What is also the same about your attempt to meet the CEO is this - a friend of mine made arrangements late last year to meet the CEO in Las Vegas in early January. Yep - the CEO agreed to meet my friend (also an investor). Guess what? No show, no contact from the CEO, and no reply to attempted contact.
Bit sad really. Good luck to you in your efforts though Duke. I mean that.
I know the CEO is the one who is the designer of the science we've invested in, but we are the ones who have allowed her dreams to get to this point. Without her we'd be where? Nowhere, but a lot more financial than we are now, and less stressed than we are now.
But without us, she'd be where? Yet we still hear nothing.
Of course if you want to get snippets of attention you can do the Facebook thing with her - she seems to be happy to wax lyrical on Facebook to all and sundry about all manner of things.
And if you want to say nice things I'm sure you'll get a response, but if you dare challenge.... what will happen? Maybe someone else will come to her side and respond in her stead.
I still hope I'm wrong. If it turns out I'm wrong don't worry, I'll make it public.
GLTA
PoorP-S
Not So - The world is bigger than You can see Nuts.
You are the one who seems to have a narrow minded view, not those who question smme.
You are always positive and we have heard it and heard it. Perhaps you are the one who should be mindful of your own advice. There is no further need for you to keep up the pumping of this stock.
It is not bashing that others are doing. It is simply demonstrating skepticism, by those who have invested heaps, over heaps of time, being suspicious of so many things - much of which have been clearly articulated through this and other media. in fact there is a need to read between the lines (that appear to be constantly blurred and changing). Like many, I have been in this mob for many years; in fact I'm coming up to my 15th anniversary. Yep, 15 years of being told the same old rubbish about being so close, and this Christmas will be the one. I have gone to the well eight time over that period, again like many of you all. We have only ever been told good news by smme. But how much has there actually been? None that has been of note or has been actually substantiated in a manner that indulges an open and enquiring mind. It has only ever satisfied the minds of those who hope like hell that wealth is just around the corner...those who believe what they have been fed without questioning too hard. Yes, like so many, I have always been one who hoped I was right - for I had very high hopes and expectations for smme and my huge investment. Now, I hope like hell that I am wrong - 'cos I have little regard for where we are at. But I hope like hell that I am wrong and all will be well, that we push through the awful place we are in right now and get this thing to market in the ways we have been promised for so long. No-one expects unreasonable timeframes and that it will all happen overnight. Thats not what people are complaining about Nuts. Its the rubbish and the unprofessional appearance and behaviour, and the unconvincing publicity and marketing, and the crap we go through to get certificates, and so much more.
If you want to believe in our CEO then go right ahead. But don't think you own this blog site, wherein you can tell folk to shut up or go away, or welcome them or not. My request to you is thus: If you have some sort of "in" with those in the know then you should perhaps stay your comments - you don't want to get them into strife with regulators.
My question to those in the know is this.... if we raise the funding for production, the 500K, will that be for mass production? or just for production of a sample amount, say 200 units, to use as marketing or testing? and then will we require further funding for mass production? Yes, I know certain things have already been said about his, but as for the truth...? Can someone who actually knows identify him or herself and state the truth.
hoping I'm wrong. GLTA,
PoorP-S
Funding and other matters..
a poster recently stated, inter alia,
"I was pleased to learn last week that a proportion of the funding required has already been received which has been set aside awaiting final funding subject to due diligence being performed where its anticipated it will be concluded by mid November."
Again?! Gee, that's how many times in 14 years?
Where did you get that information? Same place as all the other rubbish comes from? Same person who tells each of us little bits over the phone from time to time? And then it all changes doesn't it? Has done for over 14 years now. If you got it from a PR, great. Please direct us all to that specific insightful PR.
Another recent poster has just been posting with all manner of "stuff", obtained from who knows where. This from a person we don't know, and you are all buying in... clever.
And yet another recent poster spoke to the issue of smme producing several thousand cards for marketing, trials and demos etc, to be achieved 'soon'-ish. Aren't we supposed to be quiet about these things? Second and third hand information being spread by unknown sources, or known sources who have no legitimate authority to be putting this onto out, should perhaps shut it. Our esteemed leader has warned us all many times that all pertinent info has been, or will be, contained in PRs (I wish that were true). To whom it may concern - you are not doing us or smme any favours by speaking outside SEC guidelines.
And thanks for staying on topic Ranger, per usual. Blah blah.
Balders was right last week when he/she said something like ... we are told all manner of stuff and put our own spin on it, usually in the context of common conversational understanding of words, only to be told later that we had it all wrong, and we all misunderstood the meaning of the words.
Silly us, clever smme.
But hey - if ya got some more $$$ we all know where to put it
Give us the real info Chaya. For a change...
anyone out there want to rely on mobile phone coverage across the country and across the planet to ensure you can pay for something?
ABC last night - credit card fraud
7.30 Report on ABC
go to 13/02/2014 and scroll down right side to heading "US government grapples with credit card fraud"
watch the video and ask yourself "what are they waiting for?!"
Release of cards
Mattski, you remain ever so optimistic. Its good to see some of us are. Do not hold your breath. We've heard it all before, again and again. Having said that, it was good to see some variation of the themes in recent releases..... at least there was commentary about the 'limited' MKR release and information about production costs being significantly reduced. That's great news! A shame it was at the bottom of the release and possibly missed by many who grew tired of reading the same stuff written above it.
Anyway - you are right in respect of your comment about the release of the cards. I looked back at press releases and found one from 9 October 2013 that speaks to the point, and while I'm confident there may be others this one states, inter alia,...
"The company is positioning itself to issue directly its biometric card product to consumers in the United States through a strategic alliance with a card issuing bank. The fingerprint activated EMV card will be offered as an "ID and transaction safe" alternative to existing payment systems such as PayPal. With the SmartMetric cards ability to provide absolute identity verification along with in card encryption of a card holder's information, such as shipping details, the new SmartMetric biometric payments card provides an unbeatable solution for consumers and merchants alike.
SmartMetric is in discussion with Banks in Asia and Europe concerning partnered role out of its biometric card planned for the early part of 2014. The company is planning limited release for trials in the later part of 2013."
But of course we only see the words "the company is planning", not the company will...on such and such a date - not yet anyway.
Let us hope the 'quiet period' in the USA closes soon and big boys over there come in with their money so we can get all the funds we need to finalise everything to do with marketing and production (as we have been assured so many times this should be the very last rising required). As usual, I am not concerned about current share price as the company has not properly produced anything for market yet, and am more interested in trading volumes. I suspect we will see a small spike immediately prior to the end of the 'quiet period'.
Again I say to those who live in Melbourne - get in touch with the smme rep there and try out the MKR.
glta PPS
I think I know...
with the greatest respect potts, I think that it is a case of either you misheard or misunderstood, or that the rep referred to was speaking about 5,000 units of MKR in a different context. Others I know have had discussions with the smme rep and no such figures were mentioned; in fact that person was very cautious and refused to comment about the numbers of MKR offloaded in the limited release. I don't wish to appear dogmatic, but perhaps in light of the below information it may well be best that we all leave this one alone...
That does not mean I know anything you lot don't, or that I'm not frustrated as well. I'm just showing my calmer, more rational side.
I think... and perhaps the wiser or better informed among you can correct me if I'm wrong, or confirm if I'm right....
1. IF there is a capital raising being currently undertaken it is not prudent, nor permitted under SEC guidelines, for the company to announce information such as how many units of this or that were sold and at what price, as it MAY be seen as improperly influencing future investors to get into a good thing, thus influencing share price and market moves. Would that be called 'collusion' or something else? Maybe this is what is going on or not going on as far as revenue announcements is concerned. And let's not forget smme is being carefully scrutinised by legal opponents as well as what SEC might be looking at.
Also,
2. IF there is a capital raising being currently undertaken we should be mindful of slow process in some respects. That is, it might be difficult to raise capital in the US at this time because of a 'quiet period' (is that what its called?). I refer to a SEC enforced period where a company is not permitted to raise capital within a given period since its last capital raising there. IF I am right, capital may be obtained elsewhere but the US fund managers etc can only come on board when that quiet period expires - hopefully very soon.
I look forward to a reasonable amount of funds coming into smme coffers soon so that MKR (at least for now, prior to the cards) production can kick off in reasonable numbers, and maybe even get some shipped over here to offload in quick time. Strangely - nobody living in Melbourne has taken the opportunity to visit the only person in country with a real live MKR to have a play with it. Why not? Then you can post that you've seen it and whether or not you like it.
best PPS
LMU,
representing the frustrated, tending to angry.
While so many applaud the intellect, determination, insight and methodologies apparent in and used by our CEO, there remains so much that is in need of clearing up.
The small few in the so-called management team own much of the shares, followed I guess by you, LMU. My name will be on page 1 or 2.
Then there are those who have invested much of their life savings. Refer to Mr Nuts' post #4513 wherein he states he used nearly 80% of his retirement money - 13,000 shares @ 40c = what!? I'll tell you what it equals. It equals just enough to pay for a flight for someone to travel from US to UK to attend an IT conference earlier this year. And what was the outcome of attendance at that conference? Agreement that global fraud is excessive? Nice to now that Mr Nuts's contribution was well used. I truly hope it pays off for him and the rest of us.
Yep - we wonder at the brilliance of 'our' company's technology, the one WE ALL invested in, large amounts and small amounts - it all counts. While the intellect and brilliance of our CEO and inventor/leader was so instrumental in bringing to the world some great technology, it was and is the hard-earned money of paying shareholders that grew Chaya's dream over 13 years - without which she would be somewhere else right now. Her dream was realised by our money, and now we hope its our dream too. But to see so many still use the word 'trust' so readily is of concern to me.
Other companies in which I invest often release information to the world about all kinds of developments. Why can't smme do the same? We all know global fraud costs - sick and tired of hearing about it quite frankly. We all know smme has developed something that will be great to reduce such fraud and make medical records portable etc. Heard that so many times too.
smme should get some runs on the board and release some real value information instead of releasing the same old drivel. Here's an idea that many have mentioned before....send some MKR over here and we'll sell 'em in a heartbeat. Or sell 'em to all those who have registered their interest on that really worthwhile website. That'll put some money in the bank. Then smme can report that to the world.
PPS - glta
MEALY-MOUTHED PRESS RELEASES
I remain positive on smme - but then I have to don't I ?!
Surely I can't be the only one who thinks this, and why shouldn't it be said?
Wouldn't it be nice to read something new?! How many times must we all read the same old junk about how smme has made this and made that? ...about how much the world has to pay for global fraud. All we ever see is big $$ cost of global fraud and how smme can save us all. Have a look at the last 20 or so press releases, remove the ones about court, and note my point.
How about some worthwhile information and real numbers? ...like how many MKR were sold in the (after the fact named) 'limited' release and how smme has improved the product since, like how the negotiations around production costs and rates have been improved, and what contracts and heads-of-agreement have been negotiated, and when these products will be released. Instead of use of the word 'intends to' we could see the words 'will, on a given date' do something.
Releasing something like this - yes I know, as long as the information does not breach any codes - is more beneficial than the junk we often see, particularly if smme expects shareholders to dip in again.
No wonder the share price is where it is. smme has not done much to reassure current shareholders or entice prospective new ones other than by jawboning.
sincerely, and hopefully,
PPS
Capital raising and other matters…
I am not known for political correctness or for going out of my way to appease. On this occasion I did remove my own post (#4498), but not because you asked me to Duke – not at all. I have not used the term Private Placement – Who did?
You all say you are Long. You all say you want more done about raising the money that Smartmetric needs to complete the factory set-up and for manufacturing the cards and keyrings, and for proper marketing. But it ain’t happened yet has it?
I am certain that many of you have invested what you can up to now, and maybe some are holding back a little more for a later time – perhaps a time when there is real traction giving further confidence in investing more of your hard-earned cash. But until you see that movement from Smartmetric you’ll hang on.
Well then – it ain’t going to be your cash that Smartmetric gets right now is it? So whose is it? Obviously we need new cash from new investors. And I’m not so arrogant that I think only me and my friends and relatives should be entitled to get in on these opportunities, just because I’m already a long-suffering heavy investor of Smartmetric. I couldn’t believe it when I read that one…
The company owes me no other debt or promise than the share certificates for those I've bought.
Maybe there is a better way for the company to get its cash than has been occurring up to now, and maybe there is a better way to speak about capital raising than through sites such as this. However, I am not apologizing to any of you for my (now deleted) post. Wouldn’t it be great if it worked though? Shares bought on the market makes the market richer. Shares bought through capital raising puts funds in the company’s accounts.
As for my post affecting share price. Goodness me! What relevance the current share price!? The share price will look after itself once Smartmetric completes its factory set-up, manufactures the product (rather than speaking about development), signs the contracts and heads of agreements, markets its products and sends out meaningful press releases (IMHO), fills its contracts and expands as it hopes. I’ve deliberately left Court out of this post.
As for the MKR video furor… Post #4473 first mentioned the video, followed by wails of excitement by some. Suggestions by some about getting it up on Youtube were made also. What did I do? I found out who the person was in the video, thinking you’d like to know; and as it was someone from Smartmetric seemed to add credibility to it. If any of you are upset about how or why this video came to be – send your complaints to the company, not me.
Lastly for today. I do not respond well to innuendo or veiled threat suggestions, but I’ll give you this one for free. For those who suspect me…. I am not now, nor have I ever been, nor am I likely to ever be, an employee of Smartmetric or other company affiliated in any way with Smartmetric. I am not paid in any way for things I do or say in relation to Smartmetric. Therefore I am not the person some of you allege I am. I told you all in one of my first posts that I bought in many years ago (13yrs) when CCH's company was called FastEcom, then through other iterations including SmartMicrochip and Smartmetric. I am very Long on this company and have invested heavily.
Have a great day...
Capital Raising...
we can only guess or assume that the post had anything at all to do with overnight market moves.
Understand that I did not post the information without the knowledge of the smme rep mentioned in it.
As for the video seen here and uploaded onto YouTube recently. We remember it is not a marketing product, and the person seen in the video is smme Chief Engineer. Agreed there could/should be strong marketing strategies.
PPS
GOOD QUESTION - WELL ASKED LMU
...especially as he did so Prior to taking any submissions from either side.
And while it would be nice to know all about these matters I am still only mildly concerned.
We have a good team looking after our legal interests and we have the benefit of prior rulings in our favour.
Like so many others, I do not believe this judge can preclude smme from advancing matters back to Appeals or indeed a jury trial.
Perhaps it will require a judge with greater fortitude, or a jury panel, to make a ruling of this magnitude against heavy-hitters like V/MC. That is: courage, bravery, endurance, resilience, mettle, moral fiber, strength of mind, strength of character, strong-mindedness, backbone, spirit, doughtiness, steadfastness; informal guts.
good question TT - well asked.
only the gods know, and the judge himself.
Being so full of opinions - here's more.
I agree with so many of you that smme is and will be an amazing stock to hold, regardless of the court matters, although I hope we get through that in a positive way too.
I agree with Fidel in that we just got rid of the shorts, leaving longs like me to pick up more.
The legal system can be a terrible as well as a wonderful thing but it takes time to navigate through all the processes available to smme as well as V/MC. I don't like the wait but for me it has been 13 years - even as far back as when Hendrick's first model was costing us $1.50 USD at an exchange rate of 60c. No-one is to feel sorry for me as I have averaged out very well over the years; and in the same breath I don't feel sorry for anyone who bought in too high and is now having a moan about where we are up to - should have done your DD at the time! I reckon if you are in and have shares, whatever you paid, you will see amazing dividends over time - just be patient and long and supportive of the company.
This is what happens when one deals with an emerging company going through the throws of R&D, T&E, opening markets, as well as other setbacks.
I believe we are in good hands. I eagerly await the final D, the response from smme legal team, and the near future announcements from Hendrick on a wide range of matters.
GLTA
PPS
NO APPEARANCE OF THE FAT LADY
OPINIONS - everyone has one or more.
My take is that it would be a very brave judge to rule against V/MC, even if the evidence is substantial. I am happy though, that those who ruled in previous Markman and Federal Court of Appeals decisions have provided reason for smme to continue to battle on.
Tech - I think you are correct not to be concerned about either the share price or the volume, for a few reasons.
1. we saw 545K shares traded as the price fell. That does not infer, but clearly demonstrates, that for every time someone wanted to bail out last night there was someone wanting buy in.
2. the above indicates to me that the shorts lost faith in making a quick buck through legal proceedings, and the longs that see real value in the company and its technology wanted to get in at low prices. I can understand that as many of us have done similar; we've bought stock based on some information and hope of making a quick big-buck turnover, then bailed when it looked bad, not wanting to ride the waves and hold for long. Fair enough.
3. what was it..? half of 1% traded means that 99+% were not traded because.... well there can be a number of reasons including laziness, or misreading the situation - thinking smme was going to win last night - or because the majority of stock holders are in for the long haul and the smme technology.
4. as for share price...I have continually said that its not an issue right now. Why would the share price be high when the company has only recently moved from an R&D situation to one of producing an item for sale/market? It should only be once the company announces it revenues and contracts and the like that the share price should rise, other than speculation attached to legal proceedings etc.
5. Its not feasible or realistic for a company to report its sales to its shareholders each week. That information shall be forthcoming when smme next reports to SEC, or through near future media releases. Show me a company that tells the world every time it sells some stock, outside the usual reporting periods.
6. court issues - well I do not presume to know better than either the judge or our legal team. But as you clearly stated, surely if V/MC had a negative result they would be moaning and banging on doors to have the matter revisited. And I'm confident the smme legal team will if the judge confirms the "error" in written form within his "final" judgement.
Congrats to all those you bought cheap last night, and farewell to the shorts who may well miss out.
OBP - you are right as usual.
the first advance Smartmetric made and took the matter to court it bundled the Contact and Contactless usage in the one approach. The patent court judge ruled then, way back, that both issues had to ruled upon as one...ie, although it agreed Smartmetric had a proper claim for Contact use but not Contactless use the court had to rule against Smartmetric. It could not rule in Smartmetric's favour at that time as part of the claim was not upheld. We all agree on that. That is very dated information and of no relevance to what is about to take place in court in the near future.
Following that court ruling Smartmetric separated its claim against V/MC to consider Contact use of the cards alone. And so it goes....
Since that time there have been the several court appearances including the Federal Court of Appeals, wherein the judge has made comment favourable to the Smartmetric claims against V/MC for Contact use.
So we'll see how things go tomorrow and the days following.
As for me - I'm long on SMME - have been for as long as it has existed !!
With due respect to Ranger - who usually posts this type of video - hopefully we will be dancing soon...
We win
WABC ADVERTISING
the ads are running during the usual talk time - about 0830 - 1200 hrs weekdays. And each of the two ads being played four times each...
I don't know about weekends...