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Wow, this is really entertaining......her ideas? I already proven that she "borrowed' the MKR idea from a US company that had that device in the market several years before him/her. And biometrics securing cards have been in the market for years, in separated forms. And FYI, in the US, putting biometrics on the card is probably not patentable in itself, because that falls under an "obvious" use doctrine at the USPTO, no matter what she/he or its "counsel" says. So show us the "biometric IP" for this product owned by SMME or the CEO? N O N E. $25M should buy MANY patents and applications.
Hs/She latched onto an idea, and seems to have taken advantage of the US public markets, but may be selling shares to Aussies that don;t know any better about this technology and banking, but it.....sounds innovative and true.
Because YankeeDave is one of the best DD analysts out there. He dissects public company disclosures to tell the REAL story, not hope and change over a 15 year period. You don't like his research, then complain to that egotistical failed CEO about it, not him. Its all there for everyone to see in the filings. Those are HER/HIS words, certified by HER/HIM. Paints a truly horrific story, and whats more entertaining , is you go back before SMME and take a look at some of the other "projects" HE/SHE was involved with. Lots of wool being pulled here.....
Right, probably another failure to properly disclose.
Actually, those statements are FAR from slanderous. They are based on facts and historical statements by the company, and no proof whatsoever that the company statements are true. Plus, it's his opinion that this is a scam and he is protected both here, and the 1st Amendment to voice his opinion. Al LOT of YOU don't like that the disclosures tell nothing except huge stock issuances, an egocentrically failed CEO using the companies stock as a pocketbook, and hasn't produced a single cent of revenues in 15 years or a working product. There comes a time that when it walks like a duck, and sounds like a duck, and looks like a duck......its a DUCK!.
And this is the issue I brought up months ago.....the disclosures haven't been questioned and are really vid as to the "indications" of actual progress.
Dave, it may be to late. Seems that the banks and card issuers really want the consumers to get away from the actual cards and use their smart-devices "pay" systems instead, because those devices only provides a "token" for a particular transaction. Seems much more secure than a chip card thats activated biometrically. Plus, most of the 'fraud" happens online, where the biometrics would be worthless.
https://www.yahoo.com/finance/news/chip-card-change-still-faces-nagging-holdups-192405343.html
Too bad too. it was a god idea, 10 years ago.
Last time I looked Cain erosion of debt to equity is not a reportable event. No company is required to report those events unless the conversion is greater than 5% of the outstanding. I think you need a bigger brush because your canvas is getting quite large and you will need more bristles to cover that fake talking point.
Another set-up question. I'll handle this. I think that this experienced management team has already proven that it acts responsibly and that any raise will be done that is in the company AND its shareholders bests interests. Doesn't matter what the stock price is, or the pricing of the deal, especially if it will start trading on the NASDAQ via an S1 in connection with the raise. Thats my guess. Now in a better world, whatever the level of the raise, we don't know how it will be structured. We do know that once completed, a check is being written to take out all of the convertible debt and that stupid talking point will be history. According to their projections, a capital raise of $10M gets them to $100M in revenues in about 3 years. Their first contract is $500K for one of its consumer products so I think they have already proven the point to its bankers that its products address multi-BILLION dollar problems domestically and in healthcare environments and people and healthcare systems are willing to pay for them. ........... any banker worth its salt can see how thin the float and trading has been here and will use other metrics to value this deal, not the PPS. I am MORE than comfortable with a management team that has made over 30 biometric WORKING products that produced millions in revenues in the past, and those were luxury items, not even dressing the rampant controlled substance diversion market. Our CEO has a proven track record of getting things done, thats her history, and she has been able to do that here with less than a $1M over a few years and has several working products, some of which are already creating revenues. So lets sit back and be entertained by ridiculous speculation when we have history, proven leadership and working products driving real revenues, and they are only getting started
And TRADEALLDAY - the short report is right, and proves the POINT - you were sold ELECTRONIC SHARES that they now have to go to the bid and cover!. The short report only reports on trades that are NOT in the MM's accounts and they have to cover. Thats the whole point of the short report.
Yes, that's right. Shareholders STUPID[/b] to support with funding when required. Not long until it will won't be required anymore though. Cards ready and negotiations in place. Good times ahead
15 years, not a red dime in revenue,.....and an accumulated deficit of $21,404,205 at September 30, 2015. ROFLMAO! And thats directly from the filings.
I follow the DD. YankeeDave presented the entire terrible history of SMME both from a product development perspective to its terrible stock perspective. Unfortunately, I still own 25K shares, but not for too much longer. I will take small losses but will make sure I dump it at the right time. My motivation, was as a shareholder and someone in the industry. 1) Shareholder and 2) knows the industry. Those are the only 2 criteria that I need to comment here. Everything else is opinion based on facts and disclosures by the company. Nothing more, nothing less. You don't like it, I get it....but please, show me and the rest of us YOUR DD that paints another picture and better make sure your DD is =based on verifiable disclosures and facts, not speculation.
You should tell Kezzek about this stock. He would have a field day here.
SMME is an OTC pig. It's a POS company and a POS stock. Nothing more. It's failed and its pulled unsuspecting shareholders along with it.
Lol. SMME - no working products in over 15 years. - no commercialized products in over 15 years - not 1 cent in revenues over 15 years - inexperienced failed CEO in numerous businesses - $25m raised to go where? - failed to pay payroll taxes - no banking clients - no IP - false PR - false statements regarding card completion. Just the exact opposite of RXSF. And $400k in converts under leak outs are not "smothered". Lol.
Toxic debt? Not toxic. Daily PR's? Not coming. Speculation at its worst.
To talk about "Toxic Debt" that way would
make me scream. Good thing I have invested in companies that both had toxic debt dumped into the market and companies where it was leaked into the market. Reading all of the focus on toxic debt here leads me to believe that others need read more. There is no dumping. There is controlled selling that is being monitored by the company and its attorneys. You can't ask for more under the circumstances but to try to create panic is irresponsible at best. Evidently the words and process of leak out escape some of the sharper minds. I'm fine with it. Stock still around $1.00 with 175k in actual trading shares. Not an issue. Not at all.
I look at tech and leadership first both of which are absent here. I happened to look at the PPS here and realized how bad it is here. My other investments will work out just fine. Can't find leadership nor tech here. Seems like one big wool blanket. Talk about being had. LMFAO. Try focusing on the DD here to put things into perspective instead of blind faith.
That EOD trade looks like it was a paint job on the bid side - never bothered to watch the stock here but now will watch it more carefully. That extra 100M shares can buy some time, and then they can just print some more. How about all the insiders and affiliates here voluntarily lock up their shares for a year to show solidarity with the shareholders. With the amount of "news" out there, don't believe anything about bankers throwing money at SMME and the CEO turning it down. Thats just fluffy nonsense.
Wow, all I see is selling with ZERO market interest. Maybe that PR was the straw that broke the camel's (or Kangaroo's) back. More fluff with no stuff. Pretty soon, the MM's will get in with that 20% spread and really take it down.
Expecting an end of day paint job!
Ask the CEO the same question. Thats more appropriate.
There are "off the shelf" products that are available including a "miniaturized finger sensor" a "wafer thin lithium ION rechargeable battery" "miniature processors" and "miniature memory" - oh, and a connector in some form to connect the biometrics to the external device (the chip) that are both INTEGRATED on the card itself, thats ALL you need before adding in whatever matching and other software you need, which ANY engineering firm can do. Its NOT rocket science at all. I already provided links to other products. Those who choose KoolAid over facts have their own agendas. Thats why YankeeDave's DD is so valuable, it matches up the lack of progress, prior false statements of a "completed card", spending $25M with no demonstrated working product and a history of failures. Show us a working card and SMME will get kudos for at least putting some parts together to show it working. At this point in the science project, SMME should be able to demonstrate a working biometric card, because separate components are now available to demonstrate it, notwithstanding the money they already spent on engineering. FACTS
WOW, SMME NEWS OUT TODAY!!!!! Breaking news......oh wait......more of the same. Where did this CEO get her marketing degree from? An airline? A land development company?
Engineers? C'mon Duke, a card can no be created via off the shelf available components. I already provided links.
Whats in your wallet? Thats the question we all should be asking here......"Whats in your wallet?" After 15 years and $25M hard cash dollars selling stock and diluting shareholders, .....ask yourselves the question......."Whats in your wallet?" The card could have EASILY been demonstrated at the show, but it wasn't. YankeeDave did a brilliant job highlighting the disclosures.
According to the PR's and a few posters here, the entire biometric platform resides on the card. That means everything is done at the card level, and if passed, activates the chip on the card that can process the financial transaction. Basically the biometrics is separate and the "chip" is an integrated, "external" device that is activated once the biometrics is passed. The way it has been explained by the company is that a persons biometric is NOT stored by the bank issuer and the back end system only processes the financial transaction via the "chip"....the biometric on the card is a glorified PIN code, so to speak. Thats why it could have been demonstrated in Orlando, but for some reason, wasn't. Even though the biometrics authentication and the financial chip are both integrated into the card, they each perform separately.
http://www.chayacoleena.com
This explains a lot to me.
Again, this is the product of an incapable, secretive and inexperienced CEO conducting a science project for numerous years, spending millions of dollars, and never getting anywhere. Right now, there are off the shelf components to do what she paid $25M and 15 years to do. I can't wait to see the "patent" applications for the "technology" they developed. Its always "completed". just at what stage is it completed. Maybe it actually works, but I do know it could have been demonstrated to show the biometric function because allegedly the biometric "data" and all matching happens on the card, and the biometric data is NOT on the back end card processing system. And as far as VISA and MC talking with the company, lets hope so, because that would be a HUGE FAIL if proven she isn't.
Wow, Kezzek, who said anything about a bank "lending" the company money. The CEO said she is looking for more traditional funding. I think they have enough loans already. I would think they will be doing a different kind of funding. And I think your historic angle on revenues is correct, but not current. They just got their first order of $500K and I am sure we will read about more orders as time progresses. The companies net liabilities (real liabilities) is less than $50K. I don't think they are trying to set aside its toxic debt, but the company has in fact retired (paid off) at least 5 prior notes, and is attempting to manage the remaining debt until it gets to funding, according to the CEO. Not every death spiral ends up in a crash, but most scam OTC companies do. And usually those death spirals are by design, created to allow management to sell into the spiral because OTC companies usually pump and dump hard to try to clear out the conversions. That doesn't seem to be the case here. No Form 4's or 144's and actually, all of the affiliates have agreed to min. 1 year lock-ups. I think if you look at other companies management teams and affiliates, they would be dumping hard during this time, so I have to assume they know much more tan we do right now.
You can't have any pudding unless you eat your meat? I see the company chomping away right now.
My one post too.......chirp!
Well, no one knows any exact timelines, and I think that will be determined by management and those working with management to get various things done to move the company forward. Lorraine said an uplist in 2016, I can see signs of getting there all around. I don't look at the PPS like most of you do because here its irrelevant for now. Once funding is secured, then I will watch and be concerned about the PPS, but really? The company has about 500K in public float, 25% owned by insiders so they can't sell, another 50% probably owned by IHUB and other traders, leaving what, 175K shares, and you're worried?
Thinly traded, thinly watched, VERY thin float. Doesn't matter much all of the speculation, because thats all it is. And trust me, there are MANY different reasons traders come here to "speculate". Current facts...DD hasn't changed because the markets and problem hasn't changed, other than getting worse. $500K order, and its their first one? Oh my, how bad is THAT!. New NASDAQ compliance elements at website....Jeeeez, that must be horrible, right? Visibility at high end conferences.......OMG, they should just stay home........did I mention a $500K order already? Bankers to be announced soon.........guess that doesn't matter, they all suck unless they give the company free money, right? Float slowly growing....wait until the conversion onslaught by note holders.....what?, leak outs? Why bother having them, those shares are coming anyway. Maybe they should ignore them and deal with the company afterwards, yea, lets all try to push them to do that!, and who knows about shareholder count, about 100 of record, but there are probably another 100 held in street name...........oh, and new sales program targeting doctors who can make money with the company's products being launched to 10,000 doctors in person (yea, with demo's of work products) next week.........what is management thinking?
I want my PPS, PPS, PPS, horrible, bad, disgraceful, appalling, terrible, .............., and YES, IT IS!. I agree, but If you are here solely based on PPS, you have come to the wrong stock I am afraid. I see the company doing what everyone was crying about last year, sales, revenues, partners and exposure.
If this stock was $15 a share, none of the underlying fundamentals would matter to most of you, and thats a problem in itself. Guess the company was aligned with YD's philosophy all along of building the company from the ground up through sales and sales initiatives, while pushing other market opportunities. I see progress, others see PPS, just two completely different perspectives.
Well what else can you hope for. If its true, and if its real, then maybe. Its all a GREAT idea, but this CEO had great (other peoples) ideas for 15 years, never really finishing any of them. Is she a poet, a real estate developer, looking at her self proclaimed web bio, no one can tell what the hell she or he is. All over the place, just like with all the science projects. promises, releases, etc........I think YankeeDave is right, the devil is in the details........and they aint good up to now. How many times have we seen "card is ready to manufacture", "ready for mass manufacturing", "card will be demonstrated", "we are talking with banks....." so on and so forth, for years. Again, an inexperienced CEO without any prior successes at any meaningful level that shareholders can rely upon. So far, just a cry'n shame.
The same management "team" that gives themselves sole voting power over everything the company does too? Thats NOT a public company, thats called a cash register NUTS, and its absolutely NUTS you don't see that. $25M invested? $245K owed to CEO so she decides unilaterally to grant herself sole voting rights? WOW. I hope for all our sakes she can pull this off, but based on history, its seems like it will be a HUGE struggle. I guess those who invested 15 years ago have no choice but to pray, I'm with you on that.
It shows a lack of innovative thought, expertise and a waste of resources and direction by a CEO who has NO EXPERIENCE at all in this market other than a 15 year science project.
YDave, SMME did nothing but COPY another company that actually innovated biometric technology into a "Medical Key Ring" several years before.
http://www.biospace.com/News/smarttouch-medical-inc-introduces-smartstik-mdtm/38974
Its so easy to copy other companies products and ideas and claim them as your own innovations.....just more of the same here.
Thats the 181st month, haven't us shareholders here had enough already?
Well, RXSF investors know exactly what this company is doing, and when they are doing it. Our CEO is extremely transparent, and certainly not secretive. Most scam OTC CEO's aren't transparent, and we all know the losing proposition of some other companies. In its first 3 months of actually selling its products, it secured a deal with CVS, and also received a $500K order from a separate industry. It hasn't taken 15 years with ZERO revenues like others. Lorraine is one of the most transparent CEO's on the OTC, not one that is secretive and can't even demonstrate a working product, nor spell. This company is not surviving or dying based on its PPS, because unlike other companies, it really hasn't put itself out there yet. The PPS doesn't seem to be effecting its progress. Not like other OTC companies that put out incessant, repetitive PR's about market studies without a single iota of proof they even have a working product. Our CEO did not grant herself sole voting and controlling interest over this company, while other CEO's need to do that to hide fraud and scams.
I am not another OTC company Kool Aid drinker. All YankeeDave does is focus on filings and matches up the facts. Nothing more. There isn't a lot to worry about here other than when it will happen. In the meantime, the company keeps chugging along, demonstrating its products, selling its products and ALL shareholders have a direct line to our CEO. Again, falling PPS with a miniscule actual trading float is not an immediate concern of the company since it doesn't fraudulently put itself out there as some other OTC companies do. Building a strong company based on leadership with experience (which other OTC companies do NOT have), generating sales, and taking steps to raise non-dilutive financing all takes time......but not 15 years. THATS called a scam, and unfortunately you are here, because you know it.
Its good to know you are only here because you don't like YankeeDaves' DD on other companies. I do though.
BIGCUT - DUKE own no position in RXSF. He is upset with YD.
Actually he is bringing to light 15 years of horrid management, a never ending science project, $25m wasted and the most astounding aspect - ZERO revenues. Yea that's right DUKE, from what I can read in the filings this company has done absolutely nothing in 15 years except dilute its shareholder base and kick the product can down the road for years. And it traded at .10 if it's lucky. With all the regurgitated press releases week after week, month after month, year after year, there really is nothing in the filings that support much of what's hyped here. Lawsuits against the company's that you would thing would partner with SMME. That's just called inexperienced management with no real path or clue. YankeeDave is right. Nothing but a big piece of wool over investors eyes. YankeeDave has done the diligence you failed to do. You just keep drinking the Kool Aide. Dino away.
The sad thing is that the ounce of speculation YankeeDave has is based on 15 years of disclosures.
So they screw current shareholders by reverse splitting the stock, instead of taking their lumps and falling onto the OTC.
Makes a good case for the SMME card:
http://www.cbsnews.com/news/beware-of-scams-targeting-the-new-chip-cards/
OK, lets discuss each point separately.
Most OTC companies that put out a lot of fluff PR's, usually combines with a typical OTC "IR" email, newsletter blast, in an effort to pump a stock in order to either raise the PPS, or to cover large note conversions. Not here. And your analysis of toxic debt is pretty much correct, except that toxic lender will continue to provide toxic loans to OTC companies even if they are trading at .02. So we have 2 issues lumped together in your first paragraph. PR's that "suggest" good things. The PR's I see are all consistent with what the company had announced months ago, that it would start undertaking sales initiatives in 2016, it was going out to raise $10M, it was going to announce a deal with a major pharmacy retailer.......what? Not all of that happened yet? If you used the word "yet" I would agree 100% with that first paragraph. Just because it didn't happen yet, its not safe to assume it won't. But we do know that the toxic note conversions have been very limited. Several notes have already been paid off by the company, and there were maybe 2 notes that converted, but are being leaked out, not dumped out. So the effect on the market is softer than what your statements imply. Without much awareness in the market, if those notes were allowed to convert without a leak-out, this would be at .05 again. So its fair to say the company is doing a good job managing its debt until its raise is completed.
The CEO clearly stated that a buy-back would be based on any award from the Kodiak case, to return the money that was lost in the market, back to the market. The "liability hole" you are talking about is not $5.8M, its only about $500K in actual debt, not a huge amount to overcome, even without financing, if you consider the recent $500K purchase order, and its their first one. The insider issues were done for a purpose that the company already explained ad naseum, and most probably, will be used as leverage to secure a better financing deal for the company. If they actually posed a threat, they would be selling instead of agreeing to lock up those shares another year.
I agree, death spiral loans can ruin a company if not managed. And thats the key point, managed. This company is managing its toxic debt as responsibly as it can, while working on a raise that will probably take the remaining toxic debt out. Some companies have been successful, its the scam companies that aren't successful. But if you read the debt docs, its 30-35% discount to market, not 50%, and thats still not good, but again, it looks like its being managed better than most.
Again, the balance sheet does not reflect the real picture. Its an artificial picture required by SOX. The actual total debt against the company is about $550K, not $5.8M. CEO, as well as any PCOAB accountant will tell you those are mostly paper losses attributable Black-Shoals accounting requirements made up by some liberal Senators who have never been in business before.
I agree that the company needs a continuous supply of cash to keep the doors open, and so far it has, albeit crappy initial financings. I think as we watch this progress, you need to match up the PR's with accomplishments, and some of them haven't happened but there is no REAL indicator that they won't......YET.
I too agree with your assessment in looking at the filings, and historically, for a company in full operations that already has products in the market, you are 100% on the mark. But for a start-up or market entry, the metrics are different, and its like a puzzle, you need to know where to find the pieces and how they all fit together. This CEO has been very good at telling shareholders what she is doing, and what she intends to do. I think some over exuberance created accelerated timelines that couldn't possibly be met, but that doesn't mean the company isn't doing what it needs to do to get there. I see the glass half full......my 2 cents.
Yea, but you really need to do more DD. Assuming the sensor SMME uses is accurate, tested (may even be someone else's, I really don't care), the whole notion that SMME has something no one else has is just a click away. For instance, this company..http://www.powerstream.com/thin-lithium-ion.htm makes paper thin long lasting lithium polymer batteries specifically for card type applications. So someone else already developed the battery needed for a card application (to conform to industry standards). The processors are so small now, you can take your pic of manufacturers, same goes for memory. The ,matching software is nothing to load, doesn't require real estate, so it appears off the shelf parts are available for any card manufacturer to put together a biometric smart card.
With that said, not too many have done so yet, so if SMME has one, hopefully they will get it out before others slap together the technology for themselves and do it. Thats usually what happens with a very long development/science project, the market usually overtakes you with newer, improved technology. Hopefully, SMME is there already and will lead.