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I'm hoping that many questions which have been asked concerning the Smartscan will be addressed next Tuesday
I feel SQUM has the financing issues which had been the primary problem now under control. Finally with products hitting the shelves revenue in the very near term should justify a nice move into the end of the year.
Keep a close eye on it.
Just thought of a possible product for sequiam, Think about conventional gates for residential homes, the wood picket type.....
The Gate handles and latches have pretty much stayed the same for years and years and some folks lock their gates with padlocks on the inside to prevent people from entering their back yards........
This prevents the owner as well from gaining easy access to his or her backyard, some folks have gotten creative over the years and removed the latch mechanism on the front side of the gate and attached strings and placed the string in hiding places to activate the latch and gain access from the front side........those that have locked the gates with pad locks
now have to find the key and unlock the gate.......very time consuming and inconvenient.
The solution..........a Gate Lock mechanism that is water/weather proof that operates in a wide range of temperatures would be nothing short of AWESOME
and revolutionize Gated Fences.......similar to the Smartscan lock it would provide ease of access from both sides of the fence to the owners of the property, no more keys to padlocks and no more rigged up and altered gate latches with wires through the latch mechanisms etc.........
Every Fence Builder across the U.S. would be banging down the doors to provide this BIO GATE LOCK, not to mention people retrofitting existing gates, needs to be a simple installation procedure with bio access from both sides of the fence....
Some might think that not many people secure their gates..........go talk to some cable t.v. installers and see what they say..........a fair amount do secure these gates in one way or the other..........those that do not is probably because there is not a decent solution to securing them............this could be a use for the $40 product Pr'd today.
Yes, I am expecting sales will be higher in the third quarter versus 2Q 07 with cash flow breakeven obtained in the 4th quarter due to additional products besides Smartscan being fully deployed.
Keep in mind royalty payments from Kwikset are paid quarterly and third quarter will be the first indicator as the products were rolled out initially to Home Depot and by 4th quarter I would expect Lowe's and possibly Ace Hardware to be carrying as as manufacturing capacity increases and the retail rollout continues.
By 4Q 07 I feel more color on Fujitsu should also be made public by then and if Fujitsu began shipping as they stated beginning in September this could be a big eye opener to the naysayers about Sequiam's technology as it becomes clear they are more than just a one product company. I would love to hear more about Fujitsu rather than speculation.
I'm not a PM'r on IHUB anymore. Generally prefer E-mails. I think you have mine.
Yes, I made money on this and never got back in but have looked at occasionally as it finally did what was expected. I was suprised after the news last spring it held up as long as it did. Plenty of time to get out above a dime.
Agree exactly. And as prevously stated at the end of the quarter which is less than 30 days now when revenue is booked Smartscan sales will be reported with number of units sold.
I would expect an announcement concerning Kwikset Smartscan Sales to be formally announced in early October right after the end of the third quarter.
Look at SCUM sounds like SCUM but you spell it with a Q.
Look at the chart. Charts don't lie
Jersey Joe; Check out SQUM. Chart setting up nicely
I like to see people make money!
Good Luck!
Yes, Networking it the best way to gain ideas.
More Insider buying!
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5145622
OK so SCUM goes down and this goes up correct? Just making sure I know what is expected to float next.
Thanks but today is Thursday.
Nice, I missed it as was following the White Rabbit. LOL!
Scum not going down, I disagree
Royalty payments from Black and Decker on per locks are paid to Sequiam on a quarterly basis. The first royalty payment will more than likely be received in October.
You can go back and see where they collected some non-recurring engineering fees in prior quarters but the royalty payments are paid quarterly and as the locks began shipping in the middle end of June not a dime of royalty payments will be received until end of quarter.
We already addressed this in a prior post.
Posted by: analystslie
In reply to: LoanStew who wrote msg# 6432 Date:8/26/2007 9:18:31 PM
Post #of 6447
Fixed Royalty payments:
Loanstew; FWIW, Royalties payments from Black and Decker are paid to Sequiam on a quarterly basis to Sequiam. Therefore, as the product was launched at the end of June the first royalty payment from BDK will be paid in the 4th quarter.
I find it amazing that someone would try to incenuate royalty payments would appear in the second quarter when the product was not launched until the end of June 2007. Sequiam is on a calendar year reporting schedule.
Just would like to make this clarification before someone tries to distort factual reporting.
The defaulted customer who forfeited the deposit was Cyberkey. Cyberkey defaulted on the contract.
Then again this happened in the first quarter of 2007. Sequiam made a public announcement concerning the Cyberkey scam company as Cyberkey defaulted on the previous agreement publicly announced.
This is old news and I find it amuzing that someone wants to bring this up at this point 6 months later.
Fixed Royalty payments:
Loanstew; FWIW, Royalties payments from Black and Decker are paid to Sequiam on a quarterly basis to Sequiam. Therefore, as the product was launched at the end of June the first royalty payment from BDK will be paid in the 4th quarter.
I find it amazing that someone would try to incenuate royalty payments would appear in the second quarter when the product was not launched until the end of June 2007. Sequiam is on a calendar year reporting schedule.
Just would like to make this clarification before someone tries to distort factual reporting.
Was Nina the maid, janitor, secretary or answering service?
Nina Who? ToddWho? Does Nina have a last name?
Is Nina an executive secretary or was this just a person that answered the telephone? I try calling in normal business hours and I get an answering machine.
Please give me the direct number where I can call Nina that works for Cyberkey. I will report back after we talk on the phone.
I don't understand your comments that Nick received control of Biometric Investors position. You do not understand who bought out this position do you?
Can you provide the reference to the bank accounts these funds are being deposited?. What funds are you talking about? Sequiam reported a loss.
Is his bank account overdrawn?
Sequiam's 10-Q has been available for over 4 days. Why wait and post this weekend?
Royalties from Smartscan sales are paid to Sequiam by Black and Decker on a quarterly basis. They just began shipping approximatley middle of June as contract started June 1, so no royaties were recorded in second quarter on Smartscan sales.
I'm pretty sure royalties are based on on a per lock basis but not sure on the actual royalty per lock. This should be expanded upon by Sequiam management.
You really thought SCUM with a Q was going down?
Gallery views are nice. Give me a tooter! Just one is all I ask
I agree exactly. Everyone has been concerned about default and other issues which never were a concern of mine all the while the circumstances were due to significant majority control investor's desire to control this company. All of this in my opinion was a Power Play. During all of this nonsense the fundamentals of Sequiam continued to improve.
Although unfortunate in the way this was handled, I do feel the entire issue of someone wanting to fight over control could be perceived as being a positive. Evidently, the fundamentals which many ignored concerning Sequiam's technology places a a value above and beyond the current price of the stock.
Financing is the primary issue with Sequiam going forward as their products speak for themselves and are being endorsed by Fortune 500 companies.
Now all we need is confirmation of a deal which could solidify the sustainability of this company to not dilute the stock price in the future.
That is what investors want to hear. Sequiam's products have credibility. Now we need management to regain their credibility.
I'm hoping that is now taking place. Again, the ball is in Nick's court. The announcements this past week gave him the ball again while all the announcements were basically damage control on an issue he brought upon himself which resulted in another question about management's credibillity.
I'm looking forward to an announcement that gives him a reason to justify placing the company in this position. At this time, all that has taken place has put him back in conrol. The ball is in his court again. Surely he doesn't double dribble again or fumble the ball.
When a company initially rolls out a new product are SG&A expenses higher at the beginning of the deployement or the end? If you have a new product being deployed aren't the engineering and marketing expenses to rollout the product higher at the beginning of the cycle or later when deployed in mass?
Of course the Black and Decker Kwikset Smartscan was more than likely initially set up with low margins. Black and Decker provided Sequiam credibility and name recognition.
Bottom line is other manufacturers looking to make products biometric now understand that Sequiam's technology works. If not then Black and Decker would have worked with another provider. Black and Decker opened the doors for Sequiam.
For the most part it is too early to analyze margins on the Smartscan as the nationwide rollout just began in the last month of the second quarter. Third and Fourth quarter should be more indicative of Sequiam revenue attributed to the Smartscan.
However, there is one thing that some are not focusing on. There are millions of products that could utilize biometric technology. Black and Decker placed Sequiam on the map as being a leading provider to make products biometric.
Tool boxes, cigar boxes, garage door openers, jewelry boxes, computers, and complete high tech security systems could add Sequiam's technolgy to their product offering. Just to name a few.
Sequiam doesn't necessariy make the product, they make the product biometric.
I feel the company is on the right path now for huge revenue gains by alligning themselves with other Fortune 500 companies in the future.
This company should be exciting to follow in the coming months and years to come.
Issuing warrants versus issuing shares of common stock? Is it necessary that we take the time to educate someone on the difference between issuing a warrant and issuing shares of common stock? I find no evidence that new shares have been issued or have been calculated in Sequiam's outstanding shares at the present time.
Until the outstanding shares of Sequiam increases by 65 million this is a non issue at the current time. It is something to keep in mind but not an issue until the warrants convert.
We have covered this issue already haven't we?
Agree CJCC seems to be very friendly strategic partner.
However, I haven't seen any filings concerning an increase in their position. However, a new investment group has taken Biometrics Investors position per info from the 8-K filed Friday.
Maybe we will hear more about new investors of Sequiam in the coming weeks.
Loanstew: I agree on watching the share count thru the Transfer agent. That is the best way to judge dilution and Sequiam's transfer agent provides up to date info concerning the outstanding shares.
It is public knowledge and was made very public during April 2007 that Biometric Investors received 65 million warrants for taking the role of financier and committing to a $11.5 million credit facility.
Much progress has been made over the past 4 months. Hopefully now that the control issue has been resolved we can again concentrate on the fundamental improvement of the company.
The greatest growth we are seeing is in China right now and the reason for that is that China has no real incumbent security technology -- similar to South Korea where -- if you take an example like telecommunications, they went from having no access to full access. In China, with this tremendous migration of three hundred million plus people from the agricultural regions to the lowlands and the industrial regions -- what is happening is that China is building an infrastructure that is very sophisticated and they have really embraced Biometrics. Our subsidiary in China, which is called New Era Biometrics, is already one of the largest Biometric companies in China and we are partnered with the largest IT company in China, a corporation named CJCC and we are seeing a market growing at an absolutely staggering pace. We are making applications in China and to mention one specific example -- it is the ability to verify yourself on any credit card and ATM transaction biometrically. Now that is something that in the United States is starting to take off slowly -- it is getting some exposure now. We actually have tried to introduce that system as early as 5 years ago as a concept to verify credit card transactions but in China there is no resistance at all. So we are working with the largest bank in China on creating a pilot project in the first quarter of 2007 to do exactly that. In addition we are working on health care products that are Biometric, we are working on telecommunications projects that are Biometric. So in my opinion China will have the largest growth. That not withstanding, America, of course, is growing very rapidly also and I think, because of these alliances we have with Black & Decker and Arrow Electronics and ADI we are going to see our market growing very rapidly in the US also and we will have tremendous awareness of our brand name in 2007.
Full interview concerning info copied above in link below with additiona comments about BDK Kwikset and UBI Biometric interface.
http://www.findbiometrics.com/Pages/feature_sequiam.htm
Mojo: More info concerning China Sequiam ?:
http://orlando.bizjournals.com/orlando/stories/2007/01/22/story5.html?jst=cn_cn_lk
Biometric buyout
Sequiam snaps up Chinese firm in $330,000 deal.
Orlando Business Journal - January 19, 2007
by Chris KauffmannStaff Writer
ORLANDO -- Nick VandenBrekel has just taken the next step to becoming the master of his own biometric universe.
The chief executive officer of Orlando's Sequiam Corp. bought out one of his joint-venture partners in China earlier this month in order to gain his own manufacturing facility.
And as VandenBrekel readily admits, he acquired 80 percent of Magstone Innovation Inc. in Quang Zhou, China, for a "pretty deal" of only $150,000, plus the assumption of Magstone debt of about $180,000.
In turn, Sequiam gets a 50,000-square-foot manufacturing plant with 80 employees that exclusively will produce Sequiam's biometric security product, BioVault, as well as act as the company's "toy shop" as it develops new products.
Sequiam previously controlled everything in its production process except the manufacturing, which was done by Magstone for more than the past two years, says VandenBrekel. "Now everything is under our control, and we can turn out product much faster and more cost effectively."
Further, Magstone, now dubbed Sequiam East Inc., no longer will make consumer products for other companies. The relationship with those other firms will be phased out this quarter.
Bigger joint-venture stake
As part of the deal, Sequiam also gets Magstone's 30 percent stake in the New Era Biometrics joint venture the two companies have with Changjiang Computer Group Corp. in Shanghai, which was approved by the Chinese government last year.
That leaves Sequiam with a 60 percent stake in the joint venture. Changjiang Computer Group holds the remaining 40 percent.
Under the joint venture, Changjiang Computer is the exclusive distributor of Sequiam biometrics products and services in China and greater Asia. For its part, Sequiam is the exclusive biometric designer and manufacturer of biometric products for Changjiang Computer in that part of the world.
The first products under the joint venture, a biometric health product for the Chinese market, is well under way, says VandenBrekel.
Concerning Sequiam's space in China question. I'll try to dig more but we can start here. The upcoming 10-Q should shed some more light regarding progress being made concerning this venture.
Below information describes this relationship and is contained in 10K filed April 16, 2007
Effective April 10, 2006, Sequiam Biometrics, Inc., a wholly-owned subsidiary of Sequiam Corporation, 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.
· Effective April 15, 2006, Sequiam Biometrics, Inc. 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, Inc., 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.
· On April 27, 2006, Sequiam Biometrics, Inc. , a wholly owned subsidiary of Sequiam Corporation, 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, Inc. by providing research and development for new products.
The joint venture agreement grants Sequiam Biometrics, Inc. exclusive rights to distribute those products in North America, Europe and Africa.
Effective April 10, 2006, Sequiam Biometrics, Inc., a wholly-owned subsidiary of the Company, entered into an Exclusive License Agreement (the “Tacoma Agreement”) with Tacoma
Technology, Inc. (“Tacoma”). The purpose of the Tacoma 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 the Tacoma 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.
Effective April 15, 2006, Sequiam Biometrics, Inc. (“Biometrics”), a wholly-owned subsidiary of the Company, entered into an Exclusive Distribution and Manufacturing Agreement (the “Agreement”) with CJCC (China Jiangsu Construction Corporation). The purpose of the Agreement is to provide the conditions and terms for the distribution of certain biometric products and services of Biometrics (the “Products”), including a biometric personal digital assistant.
In connection with the Agreement, CJCC will act, during the term of the Agreement, as the exclusive distributor of Products in Asia for Biometrics. In addition, Biometrics will act, during the term of the Agreement, as the exclusive biometric designer and manufacturer of the Products for CJCC.
As part of the Agreement, CJCC purchased 483,871 restricted common shares of Sequiam Corporation common stock at full market value during the year ended December 31, 2006.
The term of the Agreement is five years, expiring on April 15, 2011, 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.
Yes, the lease was reduced. Add in the 0% interest rate on the loan and it all adds up to increased cash flow. In addition, the balance sheet should reflect an additional reduction in liabilites as well although this won't be reflected until 3Q 07 as this has just now occured.
All of this contradicts your earlier statements and predictions which you based on looking at financial statements over 1 year old.
Lets see, so far your interest payment comment has been proven to be misleading, the lease payment calculation you made was proven to be wrong, the interest rate set at 12% (which you implied was excessive) has been reduced to 0%, and the high level of debt has been reduced by another $1 million.
Not a bad week not to mention where the stock closed today.
Blue: Very much appreciate the pickup and mention of SQUM today. We've been waiting for closure concerning the news announcement for a couple of months. Seems like we are no headed in the right direction.
I'm assuming the new investor received the same deal which was placed on the table back in April which Biometric Investors received. Although the new investor will not be paid interest on the loan which is a better deal than previously negotiated. This transaction was between Nick V and the new investor not the company so any concern for additional shares to be issued is of no concern. No more than 65 milion and who knows it may be less
Also, the new investor could possibly be even more reputable than Biometric Investors. At this time we don't know and need to see the filings which should answer many questions.
At the present time we know Nick V paid Biometric Investors in full. Additionally, the new investor is supposedly not requesting interest on the loan.
The SEC filing should be forthcoming very shortly.
Loanstew: The entire deal between Nick V and Bio Investors is spelled out in the previous 8-K which was filed back in June concerning this deal. Some people don't want to understand the facts and continue to fabricate false and misleading statements which become obvious in their attempt to control the topic of discussion.
If Nick V hadn't come up with the money he would have forfeited his investment in this company. Evidently a new investor saw something in this deal and wanted in willing to provide better terms than the previous deal on the table.
It is not a shell game. It is called business 101. It is like moving business to another bank when a more lucrative interest rate is offered.
Thank you for pointing this out. I remember negative comments about the interest payments being a concern to somebody.
It seems that now this has not only been reduced but completley eliminated, this issue needs to be exanded upon.
This looks to be huge based on the numbers we have to reflect upon.
Product sales and relationships with partners should take the company to the next level. Sequiam's customers via purchase of products and partnerships will fund the company going forward.
Much has changed over the past 6 months. My advice is to set back and watch what unfolds. Investors will be handsomely rewarded. Skeptics will eventually banish.
The CEO could not have pulled this off unless something drastically changed.
Are you familiar with Fujitsu?