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Quarterly report out.
Quarterly report out.
Nine tenths of FA was said, the most noteworthy was "For the three months ended September 30, 2013, there was no revenue and a net loss of $1,019,463" What happened to the revenue from the sales of the MKR's?
Capital raising can cause price fluctuations. So what?
The important issue is that the company raises the money for the reasons stated.
Personally I don’t see the issue with the capital raising being mentioned on the board here. While investment firms are able to drop in bucket loads of cash (and I have no doubt Chaya is out there hitting them up too) I know that a few small investors can make a substantial difference – enabling Smartmetric to complete its factory and production – what we’ve all been begging for. I have just shy of 400,000 shares in my name and I had lunch last week with some friends and we joked there was well over a million shares sitting at the table. The fund raising through individuals has worked well to date and there are many out there, myself included, who have joined this adventure in that manner. If others do so too then good on ‘em as there will be enough there in the end for all of us.
I am amazed that some might view capital raising offers at this point as just for them and not anyone else, just because one might be an existing shareholder - that’s very restrictive as it severely limits the ability to raise funds and possibly illegal too.
Re the share price: Yes a few people may have sold last night to buy in to the offer. Big deal. If anything it’s a bonus as SMME will have a few extra dollars in the bank once the new offering is bought. But I don’t even know that that the mention of the offering had anything to do with last night’s trading. Just over 75,000 shares is hardly the rats deserting a sinking ship but rather just a normal night’s trade with the average price at .1818 a share.
As I have said before, prices go up and prices go down. Before product is released it will happen again and again and a four cent drop on 75,000 shares is not worth losing sleep about. I am here for the long haul and believe that these oscillations will continue until product is released in a serious way and earn us some revenue, and then it will go vertical.
Just as an aside, if anyone thinks that PoorP-S is the alter ego of any Smartmetric employee or representative you are mistaken. I know PoorP-S and he is just another long term investor.
OBP.
Pottsville, are you back again??
Just noticed you were off the banned list.
OBP
DO YOUR OWN DD - I'd agree with that
Talk about abusing the court system .what a joke. !
How many times do you have to LOSE ?"
SMME has not lost, the case is ongoing. Various Judges have heard the Case as well as the Markman hearings it has been through. The breach of Patent has been shown to have occurred by the Markman hearings for contact transactions. My understanding is that Fitzgerald has determined that a breach has occurred but that it was by the companies that made the cards not Visa/Master. That is the current appeal. So yes there is a breach, but who is responsible for it?
"NO PUBLIC PRODUCT RELEASE !!"
"NO PROVEN REVENUE !!"
"NO ADS HEARD !!"
The release is public knowledge. The ads have been heard, product has been sold and revenue has been made. Saying that it is not so is as logical as me saying that the US does not exist because I have never seen it.
"NO CASE !! PROVEN OVER AND OVER AGAIN !!"
See my comments above.
"They seem to think the only way to make money is by Suing people !!! LOL !!"
Personally I think that all the cases SMME are currently involved in are justified, and winnable. The fact that Chaya has pursued the 464 breach as hard as she has would tend to indicate that she will pursue all cases with maximum doggedness, which for me is a good thing.
"DO YOUR OWN DD !!!" - Yes, I would agree, do your own DD.
OBP
SMME legal cases and effects on production
I don't think that Chaya's decision to sue Visa/Master and others reduce her ability to bring product to market. While she may drive the lawsuit it is the lawyers who devote the time and effort to gain a result from the cases at hand.
The companies willingness to defend it's patent and it's reputation for me is a plus.
If the patent violation were not challenged it would mean not only a loss of potential revenue from any award, but potential losses from others breaching the 464 patent in the future knowing SMME would not pursue it.
I am pleased with the outcomes of the legal actions to-date. While it would have been nice to have had "money in the bank" from the 464 breach already, the case is still on track. Fitzgerald's ruling has not scuppered us, in one way it has strengthened our case. By stating that there has been a breach but it wasn't by Visa/Master but by the issuing companies he has indicated that the breach of Patent is real. It is now up to Bright and Co to once again direct that back to Visa/Master and show that they are in fact responsible for the issue of the breaching cards and had received the bulk of the profit not only from the release of the cards, but from the increased revenue (through reduction of losses) from the issued cards.
This is also the case with any other cases that the Company takes on. If any other Company or person is allowed to slander the Company or spread untruths it has two effects. Firstly reducing the share price of the Company and secondly reducing confidence in the Company and it's product. Both of which I am glad the Company is guarding against. I think that they will do just as well in these cases as they have in the 464 breach.
OBP
Advantages of SMME cards
The disadvantage of the system shown is that the biometric device that verifies the owner is using the card is attached to the Point of Sale/ATM device.
For this to be implemented internationally a reader would need to be installed on every POS/ATM device worldwide.
The SMME card has the biometric reader built into the card so the card is not "active" until the owner swipes their thumb over the card. No external reader is required as it is already on-board on the card.
Having a seperate reader to verify the owner would also slow down the pay-wave or contactless transactions even if Visa/Master were to install these readers worldwide.
One point that hasnt been mentioned is the increased losses that Visa/Master must be experiencing through fraud now that Pay-wave or contactless transactions are more common.
If Visa/Master wish to keep the speed of transactions that Pay-wave or contactless allow while at the same time maximising security it would seem that verification of the card holders identity prior to the "wave" would be preferred which would be ideally suited to a card that has on-board verification, such as the SMME card.
OBP
Tentatively...........
As per the statment from the press
"*U.S. JUDGE TENTATIVELY GRANTS NON-INFRINGEMENT MOTION BN 09/25 18:37 *VISA, MASTERCARD WIN TENTATIVE RULING IN SMARTMETRIC LAWSUIT "
Visa and Master have not won it is only a tentative ruling, and tentative means "not certain or fixed; provisional."
The fat lady hasn't sung and the trial isn't over.
OBP
Bits of an unreferenced document again.
To read the entire article go here.
The point that is relevenant is that the Court excluded contactless cards which Smartmetric has never denied. Both Visa and Mastercard have stated in the article:
"Visa is pleased the Federal Circuit unanimously affirmed the district court’s ruling that Visa contactless chip products do not infringe upon SmartMetric’s patent.” (Underline by OBP).
"MasterCard is pleased that the Federal Circuit Court of Appeals has unanimously affirmed the decision of the District Court that MasterCard’s PayPass contactless chip products do not infringe on Smartmetric’s patent". (Underline by OBP).
Contact or insertion use of cards was deemed to be covered by the 464 patent.
To look at what the results of this decision you need to look at two things, the past breach of patent and reasonable compensation for Smartmetric and the future use of cards by Visa and Mastercard.
The $13.4Billion dollar claimed in the suit is calculated on 25% of the savings that Visa/Master made in decreased fraud from the use of chipped cards. The fact that they saved that number of dollars comes from their own documents. The fact that the patent covers contact cards came from the Court. The only thing left to decide is what the Judge or Jury thinks is a reasonable settlement.
The future is more difficult to foresee. As the patent only covers contact card use if Visa or Master want to step away from the Smartmetric patent they can. All they need to do is have cards that only operate in a contactless environment, and cannot be operated in a contact manner. While such a thing is possible, is it practical? What about high value transactions? Will Visa/Master make arrangements for every store and ATM in the world to use only contactless transactions? Probably not.
Now I am aware that the 464 Patent only covers the US but they will still make these changes internationally, as their cards are used internationally. Alternatively, one of them may approach Smartmetric to have exclusive use throughout the world. That would leave one company with contactless cards for US use only and one card that can exclusively be used worldwide which would be a coup for the company with worldwide use.
The other issue that comes up is where does the Patent end? Yes it's a US only Patent, but the card that is swiped in the UK by it's US owner hooks into a US based network of a US based company for processing in the US. Is it in breach of Patent? That's another one for Mr Bright and Co.
The biometrics on the Smartcard make it leaps ahead of the current standard and something the industry would embrace just to save money from fraud.
Either way, the document posted is the journalists view, eighteen months old and not up to date on the current situation. Tomorrow the Court case continues.
OBP.
From the other board
Alanscorner on the other board just posted this.
"Citation for The US Court of Appeals (Federal Circuit) Decision in prior case
I just reviewed the US Court of Appeals Decision from the earlier case.
Correct citation is
Smartmetric V. American Express, et al
476 Fed Appx 742
Parallel citation is
2012 WL 1367398 (C.A.)Fed.(Cal))
As most of you know, the US Court of Appeals for the Federal Circuit is the ONLY US Court of Appeals that hears patent appeals.
The decision is easy to read.
To find this case, you can use most law libraries who have access to West Law."
I can't access Westlaw at the moment but will try form work tomorrow. If I can get access I will post the results.
He also provided advice on how to get to Judge Fitzgeralds's calendar. The Judge is attending tomorrow so I guess there really is a case after all!
OBP.
You should post a link to the article
That way everyone can read the entire thing.
Rather than posting up too many points the author starts off by saying he has "been able to gain the contact of an industry authority on biometric technology devices, Chaya Hendrick, CEO of SmartMetric" (Underline by OBP)
It looks like the author has done his DD, as he ends the article by stating "At this time I would like to purchase shares of SMME.ob before September 25th."
But in the interest of DD, readers should take the time to read the entire article as it is quite interesting.
OBP.
Some "interesting" stats there Mike.
I can't seem to find any figures that agree with them online. Could you possibly post some links so that readers doing DD can verify that they are accurate?
"NORMAL VOLUME 15,000 OR UNDER !!"
According to IHub the 30 day average is 59,411, Yahoo states the three month average is 60,697 with the year to date average taken from Yahoo at 58,639.
"Days with less than 5000 common !" "Proof is easy to verify through historical data!!"
There have been less than ten days this year with trades of less than 5,000 of which a couple were days adjacent to Trading Holidays in the US. In fact, the 100,000+ days outnumber the <5,000 days five to one with 27 days being 100,000 or more. This is also available from Yahoo.
"20 trades per day with current hype !! ( a joke ) ." "10 trades per day common or less between short lived hype spikes ."
Unfortunately I cannot find any data on this, perhaps when you are providing links to support your other claims you can include these as well.
"NO PROVEN PRODUCT RELEASE !!"
Once again, the MKR is available online. It is advertised on WABC and if a shareholder cannot hear the ads they are being streamed as well so they can be heard internationally. There have been numerous posts on various sites including Yahoo and several on IHub, I have even heard it online in Canberra. Posters on Yahoo have indicated they have bought the item and have gone so far as to provide invoice numbers.
"NO PROVEN REVENUE !!"
The sales of the the MKR have generated revenue, with orders in advance ready for the next shipment of product.
"NO CASE !!!"
Court transcripts indicate the case is due to be back in Court this week. The fact that positive results have come from two Markman hearings, and that both Judge Nguyen of Judge Fitzgerald have continued hearing the case indicates the case has merit. It should be remembered that this is the largest dollar value patent claim in history at US$13.4BILLION.
"DO YOUR OWN DD !!"
Yes, I would agree with doing your own DD.
OBP
Court case being noticed by the major players
Even though Visa/Master haven't officially informed their shareholders of the case it appears word is getting out.
A recent (October 2012) document from ECPI, a European based investment company, has mentioned the Court case in a document where it states "MasterCard has been downgraded to an overall ECPI ESG rating of "F"".
Along with other issues, the review goes on to state:
"September 2011 : SmartMetric, Inc. announced that it has filed a patent infringement lawsuit against smart card issuers Visa and MasterCard in California Federal Court. SmartMetric filed the lawsuit in defense of its U.S. Patent 6,792,464 ('464 Patent) which provides patent protection concerning both 'contact' and 'contactless' smart card technology specifically when used to automatically access a credit card company network via such contact points as ATM machines or Point of Sale (POS) machines. SmartMetric is seeking preliminary and permanent injunction against both Visa and MasterCard to prohibit them from further infringements along with a cash award for damages and a royalty payment.
November 2011: The court gave the ruling that the patent doesn’t cover 'contactless' cards. The patent suit would still be applicable to 'contact' cards. (Bold by OBP)
September 2012: Court announced its decision to set down the trial date for the case of Patent infringement against Visa and MasterCard."
Goes to show, even though the shareholders haven't been told, the big boys in the industry are starting to look!
OBP
By the way, I neglected to mention
The article quoted by you is over two years old. The information provided in September of 2011 by Mr Barrow has little relevance today.
To ensure the accuracy and relevence of posts, and to allow readers to check the bonafides of statements a reference to the original document should be provided for readers doing their DD.
OBP
Accurate information here........
SmartDatatel was formed in 2010 which is hardly recent.
Look at this post for correct information about the 464 Patent from Chaya back in July.
"I transferred ownership of one of my Patents to SmartMetric. I had no obligation to do so but I chose to do this for the collective good of all the shareholders. I could have easily just given permission to SmartMetric to use the "464" for its fingerprint biometric smartcard and retained the ownership of the Patent. To put it simply I could have owned solely the Billion dollar lawsuit and engaged Pat Bright outside of SmartMetric. I didn't. So instead I CHOSE to put this into SmartMetric."
You forgot to add "DO YOUR OWN DD"
OBP
Advert just heard in Canberra Australia on WABC!
Streaming radio on the net and I heard the advert.
Medicalkeyring adverts, now being heard INTERNATIONALLY!
OBP
This article is dated and irrelevant
The article was published two years ago, since it was published the Markman hearings have verified breaches of the 464 patent.
The fact that the case is ongoing would seem to confirm its merits.
OBP.
Happy Birthday to that article.............
You do realise that the article you are referring to is two years old as of Monday, so the SEC filings that are referred to are well and truly out of date.
Since then product has been released, and the revenue will be reflected in the next SEC filing.
Perhaps if documents are quoted a link could be provided so that readers can judge their relevance, or lack of.
OBP
Getting a lawyer acting on contingency is harder.
If you are paying for the case yourself any lawyer will take it as he knows he gets paid in the end whether he wins or loses so they never say no. Win or lose its money in the bank.
If he takes it on contingency he only gets paid for a win so they tend to say no quite often. If he doesnt think it will win, he won't touch it. Losing a case on contingency, especially a case like this, could lead to bankruptcy for the lawyer and his firm due to the ongoing costs so they tend to be extremely selective and only go for a sure thing.
Given Mr Brights credentials I don't think I would second guess his faith in the case. I don't believe anyone that posts here would know more about the law, or the case in hand, than he does.
Once again, the case has gone through two Markman hearings, the Court of Judge Nguyen and is now with Judge Fitzgerald. The Markmans were positive and neither Judge Nguyen or Fitzgerald has thrown out the case so they must believe it has merit.
Either way we find out on Wednesday. By the way, did I mention that it was for 13.4 Billion, the largest patent claim in history?
OBP.
A more balanced look may be warranted
"HOW MUCH SMME HYPE WORTH TODAY ? A PENNY LESS THAN YESTERDAY !! ROFLOL"
Yes the closing price was down a cent from yesterday. It should be noted that this was as a result of the last trade where the price dropped from .40 (yesterday's close) with a final trade of 6,000 shares at .39. The total shares traded yesterday were 106,719 for a total dollar value of $42,811.74 or an average of .401163, so the average was not down on the previous day.
As I have previously stated though, the market is by nature made up of peaks and troughs. Perhaps it is more realistic to look at a longer period such as year to date which has the price going from .17 on 2/1/2013 to .39 on 17/9/2013.
"NO PRODUCT RELEASE !!
Verified on this board many times !!
Chaya even avoided comment with Seeking Alpha !!"
Chaya did not avoid comment, her statement was "Very happy that we have been able to make sales after two weeks of radio campaign marketing with WABC in New York."
"NO PROOF OF RADIO ADS !!
Chaya could've proven that with seeking alpha also .
Provide Network , Stations And time slots !!"
Just to reiterate her comment about the network "with WABC in New York". She wasn't asked for time slots and such information would be superflous to the interview anyway.
The release of the product, proof of sales and proof of adverts have been covered numerous times before both on this site and other sites by myself and other posters. A review of my previous posts will provide links that can confirm the product, it's release and advertising do in fact exist.
"NO REVENUE !!!"
The product was released and it sold, thereby creating revenue. There is more product becoming available which will increase the revenue and create a continuous revenue stream.
"NO CASE !!"
The case is ongoing, it is due back to trial in a week. It should be remembered that it is the largest dollar value patent claim in history and has been ongoing for a while. It has had positive results at the two Markman hearings, been through the Court of Judge Nguyen and is now with Judge FitzGerald. Both Judges have had the opportunity to dismiss the case but haven't which would indicate our claim has merit.
I would like to add though that anyone doing DD on the company should take a far broader view than has been covered here.
Most companies at the stage of life of SMME have possibly one asset, idea or product. Smartmetric is well above the curve in that they have:
> The Medicalkeyring which has already generated sales, has product on order even before it is produced and is generating revenue. Other variants are indicated as coming on line which will increase the product base and revenue still further.
> The 464 patent claim which is currently going through the Courts.
> The Smartcard which is due to be produced shortly.
This list is not complete though as the myriad multiple uses and markets for both the MKR and the Smartcard should allow a huge diversification in the markets they can be used in.
I am a sharehloder in SMME and am heavily invested in the company. I am not overly concerned about past share prices, volume of trade or the time taken to develop the product. I am looking toward the future as I can personally see huge markets and revenue for the products that SMME has.
Don't take my word for it and do your own DD.
OBP.
Welcome home Potts
I agree Mattski
Most companies at this stage of their life have perhaps one tenuous string to their bow.
SMME is in a much better position in that it has the MKR, the 464 patent trial and the Smartcard going for it.
The other bonus for me is the diverse uses that are there for each of the products.
The MKR can be used as intended to store medical files. I personally would use it for sensitive data such as wills, financial data and similar. I can also imagine changes in the software that would enable it to be used as a "key" to enable proprietary software to run on a computer, but only for the person who licenses to software. If the MKR can be made to operate using one of two fingerprints it would be useful for moving sensitive data between two people and avoiding the internet and possible third party snooping.
The smartcard uses boggle the mind. National ID cards, health insurers and such seem like obvious uses. How about access control? At present my swipe card at work operates for me, or anyone else holding it. If it had a fingerprint reader in it it would only work for me. For handing out welfare a card that could only be used by the recipient means the dollars go where they are supposed to rather than to the spouse or whoever is holding the card.
There are many others and probably more that someone from SMME will be developing for many years to come.
OBP
Facts that are verifiable - with links.
"SMME - NOTHING PROVEN !! NO FACTS !!" - To be as thorough as possible I will attempt to cover each of the points raised individually. In the interest of accuracy I will include links where possible.
"STILL NO PROVEN PRODUCT RELEASE !! AS PER PR. !" - The product was released last month on the Medicalkeyring site and was sold out in two hours. Posters on Yahoo Finance SMME board have confirmed that they have successfully ordered and been invoiced for the MKR.
"STILL NO PROVEN RADIO ADS !! AS PER PR !" - The radio ads are listed on the press release as being on WABC which "covers the Tri-State area of New York, New Jersey, and Connecticut, and can be heard in 38 states and Canada at night". Listeners on Yahoo Finance Board have confirmed hearing them. Alternatively they can be heard on the Medicalkeyring site.
"NO REVENUE !!!" - The poster on Yahoo Finance indicated that his invoice number was 1120. If we assume that this was the last one sold it would indicate income of approximately $100,000 within the first two hours of sales. Given that production runs are not generally done in such random volumes it is likely that the revenue was considerably higher when the MKR sold out. The bonus of the mode of sale being through our own website, with no wholesalers, retailers or shopfronts involved is that the entire profit goes to the Company and is not diluted or passed on to others.
"PPS A JOKE !" - On 2/1/2013 the price was .17, yesterday at close it was .40. This is 235% up for the year to date.
"NO CASE !!!" - The case is based on the 464 patent. The Markman hearings have declared that our patent covers "contact" use of the card as well as other points. Judge Nguyen had the opportunity to dimiss the case and chose not to, neither has Judge Fitzgerald. The case is ongoing and is due before Judge Fitgerald once again on the 25th of this month, two weeks from today. As the largest value patent case in history it is worth watching.
"VOLUME A JOKE !!" - Yesterdays trades totalled 38,558 which is down on the 30 day average of 62,407, the 13 week average of 63,825 as well as the year to date average of 58,000+.
"TRADES PER DAY A JOKE !!" - I would not say that the trading volume and trades per day are indicative of lack of interest from the market, but that shareholders are here for the long term.
"DO YOUR OWN DD !!" - Yes, I agree with this statement. Do your own DD.
OBP.
Just to clarify some details.
"LOL -STAGNANT PPS" - On the 2/1/2013 the closing price was .17, last night it was .45. That is 264% up just in the year to date. While it has been significantly higher in the past this was due to the possibility of a settlement which did not eventuate. With the Court case approaching it's end a settlement is once more a possibility with an appropriate rise in share price also.
"NO PRODUCTS !!" - The MKR was released and has sold out with orders outstanding for the next production run. Go to MedicalKeyring to view the product.
"NO REVENUE !!" - The sales of the MKR have generated revenue.
"NO CASE !!!" - At the present time SMME is engaged in the largest value patent case ever. It has gone through two Markman hearings, through the Court of Justice Nguyen and is currently in the Court of Justice Fitzgerald. All have had the opportunity to throw it out but owing to the merits of the claim it is still ongoing and back in Court in two weeks time.
"NO RADIO ADS !!!" - The adverts can be heard on the MKR website and people have commented on them on other forums such as the Yahoo Finance Boards.
"NO PUBLIC INTEREST !!" - The release of the MKR and the Court case has been covered in The Wall Street Journal, James Timothy White, Bloombergs, CNet and most recently on Olmstead Williams.
"VOLUME / TRADES A JOKE !!!" - The 30 day average is 62,779 while the years average is 58,000+ per day as referenced at Investors Hub. Both figures are quite respectable.
As a shareholder I am more concerned with the future than with the current share price or trading figures. The things that I find most relevent are:
> At the present time SMME has a newly released product that is without comparison in technology and scope. It sold out quickly with orders outstanding for the next production run. In addition, other variants are listed as soon to be available.
> The Court case is proceeding well and we go back before the Judge in just over two weeks.
> And, production of the Smartcard is due at the end of the year.
"DO YOUR OWN DD !" - Once again I agree with this comment, do your own DD.
OBP.
Let's look at documented trading statistics.
The plus 60,000 per day previously quoted was an average taken over 30 days. The 30 day average is an industry standard, this length of time allows averaging so as to level out peaks and troughs. To view the figure yourself, go to http://ih.advfn.com/p.php?pid=squote&symbol=SMME and you will see it.
For a more accurate and comprehensive view, go to http://au.finance.yahoo.com/q/hp?s=SMME. Down the bottom you will find a link to download all the trading details (including volumes and prices) in a spread-sheet. Once you do that, you can then do an average yourself and see just what the average sales were for any period in the past.
I have run the figures for the year to date. So far SMME has traded 10,007,100 shares this calendar year. This year there have been 172 trading days including Fri 6 Sept. Now that averages to 58,180 shares traded per day.
As for the share price, yes it has gone up and down. I am aware that the price has fluctuated in the past but that is what shares do. I am not at all concerned with historical prices and I am not overly concerned with todays prices or even the volume.
As a shareholder I am more concerned with the future. The things that I find most relevent are:
At the present time SMME has a newly released product that is without comparison in technology and scope. It sold out quickly with orders outstanding for the next production run.
The Court case is proceeding well and we go back before the Judge in just over two weeks.
And, production of the Smartcard is due at the end of the year.
Once again, do your own DD.
OBP.
Proof of the company's success is..............
Proof is able to be shown in the share price not being stagnant but being over 100% up on last year.
Proof is an average volume of 60,000 plus per day.
Proof is the release and selling out of the MKR in two hours.
Proof is additional product due by end of year.
Proof is the fact that we are now being mentioned in the Wall Street Journal, Bloombergs, Cnet and other online publications.
Proof is the largest patent case ever that is proceeding quite well.
OBP.
Saying something doesn't exist isn't proof either.
Confirming the existance of the MKR we have:
The website that says it exists, along side PRs from the company that say it has released it.
Adverts that are available on the MKR website, aired on a major radio station and that have been heard by other posters on the board.
Posters who have confirmed that they have ordered the product, and have supplied invoice numbers.
What more proof is required?
OBP.
Maybe it was someone adding to their portfolio!
If proof exists of someone painting the share price then proof should be posted. The more realistic option is that someone had a spare $100.00 and decided to add to their portfolio.
If you average out the day there were 26,815 shares sold at an average of 40.11 cents a share.
It should also be noted that the average sales for the past month is just over 63,000 shares per day before someone complains about volume.
Either way, I am not overly worried. The MKR is out, Court case is less than three weeks away, and Smartcards and it's varients are due out by end of year!
The price will go up and so will the volume, not by a little but by a lot!
OBP.
Some will still argue, but here’s the facts…
Product was released http://www.medicalkeyring.com/
Product was sold, as supported by customer statements http://finance.yahoo.com/mbview/threadview/?&bn=244b45ed-436c-3b58-8a34-ca2770eca240&tid=1377658991744-817fc143-6e3f-404c-be94-558345f49cf0&tls=la%2Cd%2C0%2C3 which even included invoice numbers!
The station advertising the product is WABC. It is hardly a station that nobody has heard of. "77WABC's 50,000 watt clear-channel signal covers the Tri-State area of New York, New Jersey, and Connecticut, and can be heard in 38 states and Canada at night!" http://www.wabcradio.com/page.php?page_id=121
If you wish to hear the advert, listen to the station, (they also stream worldwide) alternatively they can be heard on the MKR website.
SMME has not postponed the Court dates. Look at the documents from the Court and you will see that the company has pursued the case vigorously since it’s onset.
No, there haven’t been a lot of shares sold. Perhaps it is because the price offered has not been anywhere near what the shares are worth, or will be worth in the future.
This would be a good time to recap the company’s position. I think another poster summed it up quite well.
13 years = 1 product release + more on the way
MKR = thousands sold and more in production
Advertising = radio 77 WABC & websites = successful
Court case = pending - if ever the defendant counsel returns from his holiday! Maybe he'll stay away to protect his reputation.. Anyway - we will see in a few weeks..25th?
Shares traded = who would right now, when we are so close?
DD = done = thousands of happy shareholders.
OBP
Previous extract from “Defendants statement of uncontroverted facts”
Once again, a snippet from an old Court document which as previously stated is the “Defendants statement of uncontroverted facts”.
The complete transcript can be found here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87764506
For the sake of your own DD, read the entire document and take note that the snippet mentioned in the previous post is what the Defendants have claimed and not necessarily what will be deemed to be correct. It is not what the Judge has stated.
Better yet, read all the documents including the findings from the Markman hearings to get an accurate view of the proceedings to date.
In three weeks the Case goes back to trial. At that time the Judge will make a decision. It's his opinion that matters.
OBP
Perhaps people should read the ENTIRE document
Once again a snippet of a Court document that does not include a date, source or link for verification purposes. For the entire document go to http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87764506 You will see the quoted text in section five.
What is not made clear in the previous post is what Court document it is part of. The document is in fact the “Defendants statement of uncontroverted facts”. Now the operative word here is “Defendants”.
It is not a statement by the Judge of what his opinion is, it is what the Defendant wants. They want the case to go away and this is one of their arguments.
Now this document was filed on 5/6/2013. It is not the most recent document by any means. Perhaps the most relevant document to examine is in fact http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91006566 This document that comes not from the Defendants or Smartmetric, but from Judge Fitzgerald himself.
When you read it, pay particular attention to the bottom section which are the Judges own comments, and in reality the only ones that really matter. They read:
The Court does not expect Defendants to be bound by the current state of expert discovery. The issues to be discussed at the scheduling conference on June 24, 2013 are as follows:
Would it be an appropriate exercise of the Court’s discretion to strike the Gussin and Hendrick Reports, precluding use of their testimony in support of motions and at trial pursuant to Rule 37(c)(1)?
If it is not an appropriate exercise of the Court’s discretion to strike the reports, what other sanction would be appropriate?
Should the Court decline to exclude the reports, what would be an appropriate schedule to allow Defendants adequately to conduct rebuttal discovery?
Basically, we were late in submitting documents to the Court. Smartmetric’s lawyers claim that this was as a result of having a million pages of documents dumped on them at the last minute.
The Judge will now decide what action to take regarding our late submission of documents. It may be one of many actions, or none at all, but none mean the end of the Case.
Finally, Smartmetric is not avoiding Court. The Company started this case knowing it would be a David and Goliath fight and has fought it this far. Visa/Master want to avoid the case and would like it to disappear, Smartmetric has fought it as there has been a breach of their Patent for which they are entitled to receive appropriate compensation.
Do your own DD. Read ALL the documents.
OBP
Can we have a link to the entire document?
It seems that most of the document has been missed. Can we have a link to the entire document rather than just one snippet of Defense claims?
Either way, a claimant does not need to have competing product or be required to show a share of the market to file a claim for damages for breach of patent.
OBP
Thoughts from another board.
I read this on another board and it is worth quoting here.
Let's Update Reality
1. SmartMetric publishes financials- Right???, Right!!!!
2. SmartMetric officially began Product Sales of its first product.
3. C Hendrick seems to have Gifted that Product to SmartMetric which allowed it to have revenues.
4. When SmartMetric next publishes financials the P&L will show Product sales and margins; the Balance Sheet will show Cash and Inventory; and the Cash Flow Summary will show what has occurred in that aspect.
5. Investors are interested in FUTURE SALES/REVENUES. They are for every other publicly traded company on this planet.
6. SmartMetric is a manufacturer that's now selling its products. Future Sales are dependent upon expanding sales of current products and also inventing new products.
7. SmartMetric has the Biometric Credit Card, Manufacturing methods, and presumably credit card reader to be introduced in last quarter of the year.
And
8. in less than 4 weeks The US District Court Judge will rule on the Motions for Summary Judgment (from both SmartMetric and the defendants).
9. I recall The US Court of Appeals for The Federal Circuit has already ruled that SmartMetric's patent "464" applies to uses when the chip and pin credit card is swiped in readers, and that information is transmitted over ANY TYPE OF NETWORK (whether the network is public or private, general or special/specific).
That ruling came in prior case where SmartMetric was plaintiff and both current defendants were also defendants.
10. Trial courts are Required to follow the rulings of the court's Direct Appellate Courts.
And the US Court of Appeals for The Federal Circuit is a Direct Appellate Court for Patent Cases.
The Ruling applied to SmartMetric and in a case with the SAME DEFENDANTS.
11. Patent holders are entitled to Reasonable Royalties.
End quote.
OBP.
Five days after release of the MKR recap.
With the MKR having been released for a week perhaps it is time for a recap on the company’s position and it’s product.
On the first day of release the MKR sold out within two hours. While we cannot quote precise figures invoices suggest at least 1,100 sales at a minimum invoice value of $89.99. This equates to sales revenue of approximately $100,000. This is just based on 1,100 units sold by eleven am. 100% sales in two hours is any retailers dream. The fact that there are still orders waiting to be filled means guaranteed sales and money in the bank as soon as the next production run is finished.
These figures by themselves are good. The fact that the company has chosen a direct marketing method increases the nett profit immensely. With this marketing strategy the company removes wholesalers and retailers from the supply-line and keeps all the profit.
Competing, old school, products show that there has always been a market for products that advise first responders of medical issues a person may have. MedicAlert bracelets have been around for twenty years. They have however been limited in the advice and warnings they can provide, being limited to a few words: diabetic, penicillin allergy and so on.
With the introduction of the MKR the advice that can be given immediately is increased to a string of text that can be programmed by the user. It would seem obvious that the MKR will now be one of the first things first responders look for, along with MedicAlert jewellery.
But it is there that the similarities end. The MKR now allows a patient that is being transported to provide first responders, ER’s and MD’s with their full life’s medical history. This has not been possible before. If you were to visit an ER there is only a thirty percent chance your records may be available digitally. At your MD the odds raise to fifty percent. But even if they were available the varying software used may mean that they may not be readable.
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/11/why-electronic-health-records-failed/
As the MKR is a plug and play unit it is able to be used in any Windows based PC and it will give access to your medical records immediately, then and there. This can’t be done with a MedicAlert bracelet and it can’t be done with a thumb drive.
To gauge the size potential you just have to look around you. Think about the people you know who wear a medic alert bracelet, add in the population who are not covered by MD’s who digitise their records, tourists who visit the US as well as US citizens who travel abroad. And that is just the US. There is a whole world out there that is a bonus market as well!
As for the trades, yes it’s been a slow week. We have had them before and we will quite likely have them again. But the price is steadily increasing and the average 30 day sales figure is increasing.
Given the uniqueness of the product and the demand that is likely for it a rise in share price is assured based on sales of the MKR alone. If we combine this with the approach of the Court case and the increasing interest from the media (Wall Street Journal, Bloombergs, CNet and other internet sites) as well as the imminent production of the Smartcard then a sharp rise in share price is inevitable.
OBP
Welcome Techn0phobe!
Welcome Techn0phobe to the Ihub SMME soon to be wealthy club.
OBP
Not so much unhappy with trading, as unconcerned.
While the present volume of trade is low it is not concerning. I personally have been an investor for just over a year and have seen the price rise from 24 cents when I entered to just over 40 cents yesterday. During this time there have been quiet periods as well as high volume days, with the average over the last 30 days at 67,170 per day. As most of the posters on the board are here for the long term a period of low trading is not that much of an issue. We are here for the long term.
Before deriding the company for low volumes it would be prudent to examine the long term outlook of the company.
1/ We have just released the MKR. The product has sold out in short time with orders preceding the next production run. The MKR is nothing like any product currently on the market and has possibilities for use that are far beyond the current advertising.
2/ According to the MKR website other variants are coming on-line.
3/ The release of the MKR has taken us from a R&D company to a company with a revenue stream.Owing to the sales structure which does not rely on outside vendors, wholesalers or middle men we keep all the profit on the items sold.
4/ In just over three weeks the company will be going back to Court to continue litigation with Visa/ Mastercard for breach of Patent. Just as a reminder, this is the largest patent claim ever. The Markman hearings have stated that the Patent does cover contact use of the cards so we have a claim. Neither Judge Nguyen or Judge Fitzgerald have dismissed the case which further supports it’s merits.
5/ The company has built a factory in BA that will be producing Smartcards that have unprecedented security features and should be commencing production by years end. As an aside, the Smartcards will have a much broader scope of application than banking with uses in a diverse range of areas such as Govt ID’s, drivers licences, access control and others.
6/ It is also reasonable to assume that once the current Court case is over that litigation may be entered into with other companies who may have breached our Patent.
So yes, we had a few quiet days. But I am looking forward to a few brilliant years.
OBP.
Lets look at "Facts"
"Odd how the overpriced thumb drive could sell Out with a website that's not working .." - It is working, just look at the site.
http://shop.smartmetric.us/
"If there are ANY SALES it would be easy enough to prove." - Proof in the form of a customer with an invoice number.
http://finance.yahoo.com/mbview/threadview/;_ylt=AsczQMMWSV5RzRj4EOfER.veAohG;_ylu=X3oDMTB2Y252cDRkBHBvcwMxOQRzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=244b45ed-436c-3b58-8a34-ca2770eca240&tid=1377658991744-817fc143-6e3f-404c-be94-558345f49cf0&tls=la%2Cd%2C0%2C3
"FACTS ARE !!!" - Quite often quoted incorrectly! Lets look at the next seven "facts" and see if they are able to be supported and correct.
"10 YEARS !!!" - Its actually 13 years since the company was founded.
"NO PRODUCTS !!!" - We have one out there, soon to be more!
"NO REVENUE. !!!" - With over 1,100 invoices at a minimum of 89.99 each that is at least $100K within two hours of release.
"NO CASE. !!!!" - Once again, we are back at Court in September.
"NO PRODUCT RELEASE !!" - Covered above.
"NO RADIO ADS !!!" - They are there, turn on your radio.
"VOLUME / PPS. A JOKE !!!" - Average volume over last 30 days is 67,606. Price could be better but it is early days.
As we have all said before. Do your own DD as a lot of the statements here and elsewhere are not correct.
The fact is that we are on the cusp. Last week we were an R&D company only. We have now had mentions in the Wall Street Journal, Bloombergs, CNET and other minor web-sites as well as national radio advertising in the US.
Our first run of product sold out quickly and there are orders outstanding for our next run of product.
The Court case is ongoing and the Smartcards should be out by years end.
I am very positive about the company's future and my investment.
OBP
Online records-storage article.
Having a wander through the internet and came across an article relating to online storage of medical records from the Washington Post.
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/11/why-electronic-health-records-failed/
As this is cited by some as being a major drawback to the sale of the MKR it is worth reading.
It is interesting in that it states the percentages of hospitals and doctors in the US that are actually taking part in online storage of patients data. The article indicates that only half of the doctors and less than a third of hospitals have digitised their records. According to a survey seventy percent of doctors are frustrated due to differing software packages making digitised records unable to be used across all locations.
So as of the writing of this article (Jan 11 2013) if you visited a doctor there is a fifty percent chance your records would be digitised and less than one in three chance at a hospital. And even if they were digitised there is a good chance that due to software issues they would not be able to use them.
This is what makes the MKR an asset in the US, and around the globe.
That's probably why its selling so well!
As to it being sold out, I was also a little disappointed. However, it happens. A production run is scheduled and a quantity is made based on expectations. Sometimes sales exceed expectations and it is not something we as sharholders should be upset about. We can always make more!
It is better to do it this way than to overorder and have stock sitting in warehouses that have been paid for. It costs us money in a lot of areas including overdraft and storage. The way of retail today is "just in time" ordering/supply. Sometimes you get it wrong but it is a money saver, and we can always make more later.
OBP
A brief mention of SMME
An article released today highlighting biometrics includes a (very) brief quote from a SMME person. http://www.freenewspos.com/news/article/a/701604/today/apple-iphone-rumor-boosts-biometrics-companies
What is more interesting though is one of our soon to be competitors that are mentioned shortly after. "Morpho" currently produces a number of chipped cards for assorted Govt departments.
Their website is worth a look as it mentions the scope of use of their product which are no doubt some of the areas that the Smartmetric card will be able to be used for. Ours however will have the fingerprint biometrics in the card which should make them more versatile and saleable.
http://www.morpho.com/?lang=en
Another one mentioned is "Gemalto" which is also has a division with products in them similar to ours.
http://www.gemalto.com/govt/sealys/id_solutions/index.html
OBP
Nice one PPS
Will be keeping my money in the bank,
accessing it only with a Smartmetric biometric protected smartcard.