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The excerpt further below was on their last 10k from a month ago. Does Chaya actually read what is communicated?!
Rubbish like this is probably why theyve replaced their accounting firm. The last one, like the ones before them, have probably picked up on the fact something fishy is going on...
Sales and Marketing
SmartMetric has engaged distributors and dealers in both North and South America. SmartMetric has entered into an agreement with RedSys the owner of the ADVANTIS credit and debit card chip that is used in over 1.4 Billion credit/debit cards globally. RedSys/Advantis is owned by card issuing Banks. Five hundred (500) card issuing banking organizations around the world are issuing credit and debit cards with the RedSys/ADVANTIS chip.
SmartMetric has added the ADVANTIS credit/debit card chip onto the SmartMetric biometric card thereby allowing the existing RedSys / ADVANTIS banks already issuing credit and debit cards with their chip on board to now issue seamlessly the SmartMetric biometric credit/debit card. RedSys/ ADVANTIS have agreed to work closely with SmartMetric in promoting the SmartMetric card globally. RedSys/ADVANTIS is owned by some of the largest Banks in Europe and Latin America.
I bet they've stumbled across a brand new way to post items internationally. Patent-pending, I'm sure... What else could possibly be holding up the cards since certification was given? That is besides of course there is no card.
The blokes that just rowed across the Atlantic would be able to transport these faster.
"Do not try and find the card, that's impossible. Instead, only try to realize the truth... there is no card. Then you'll see that it is not the card that's cost you your money, it is only yourself."
?Spoon Boy to Neo
No there isn't except for what a court might accept as hearsay.
In any case, I am still hopeful that something good will come of this. The alternative option is that I am quite simply delusional.
The below snippet was taken from their last rubbish press release, which talks to a problem that a biometric card can't resolve.
"The SmartMetric biometric credit card is planned for release early in 2020 incorporating the operating system and payments chip of a major global payments card chip supplier. The credit card integrator provides chip and operating systems to more than 500 card issuing banks worldwide."
Rather than complaining about that guy in Melbourne, why doesn't anyone just lodge a complaint with ASIC or the AFP?
Yeah, sadly I'm still optimistic.
I wouldn't trust our mobile phones either. They're about as safe as swimming in shark-infested waters - I've worked for the Telcos.
You would hope that with this much scrutiny the card and the company are the real deal, otherwise, how else would they have made it this far.
The CEO owes it to everyone, including herself to start communicating openly and honestly with her employers, the shareholders.
On the point of online protection, there are a number of companies out there that have come up with a solution to this which will help considerably reduce online fraud. Their processes include the use of a mobile phone that acts as an intermediary between the card and the merchant, or the use of a dynamic CVC which generates a new 3 digit code each time the card is turned on.
Not that these any or all of the companies here do the all or any of the above, but it shows there is a heap of competition out there. We have Gemalto, Zwipe, Idex, NextBiometrics, KSID and Idemia just to name a few. I'd like to add all of which have professionally designed websites.
If Chaya can spend ridiculous sums of money each month on pointless press releases, then I'm confident she could pay someone with some skill to develop a proper website.
No one can get set their eyes on a card from Chaya/SMME, which is extremely concerning.
I really hope this is the real deal but I am starting to believe it isn't.
Good to see our cash is being extremely well spent.
Unless it's necessary, and I don't see how, why can we blow money on rubbish like that, but cannot keep the people that provide said money updated with what is going on!
Can the company provide an update on the status of the cards? Have they been shipped yet?
All, Ignore that last post.
Upon actually going through it, it reads as if manufacturing or assembling at least some components of the occurs in Asia and not entirely in Argentina as I thought may have been the case.
Last time I checked Spain was on a continent named Europe.
Are we to presume that not one Bank in Europe is interested in the card?
While SMME could very well have approached Advantis to use their card, it is just as likely that Advtantis approached smme asking to use their chip in what is allegedly a world first battery on board biometric card.
In any case, Chaya and that not so honest bloke in Melbourne owe it to investors to show them something more than they have to this damned point.
This is brilliant!
Fingers crossed something more follows soon.
That's an interesting question. What is the timeframe? If we look back at just the last 12 or so month's of news releases, you'd be forced to assume it is at least 12 months away.
Let's take a look.
May 25 2018 Sale of the Security and Identity card to a mythical university in Argentina.
July 13 2018 "After many months of secret product development, SmartMetric has now under manufacture its new Biometric Credit Card"
Aug. 7 2018 "SmartMetric Develops A Biometric Portable Health Records Card That Stores Your Medical Records Inside the Card That Is Secured By Your Fingerprint"
Aug. 21 2018 "SmartMetric Continues To Build Out Its Sales And Distributed Manufacturing Base With A Distribution And Sales Agreement With One Of Argentina’s Largest Credit Card Manufacturers"
The below was released on Nov 15 2018 and then again Apr 4th 2019.
"SmartMetric Introduces Live Finger Detection For It’s “In The Card” Fingerprint Reader For The SmartMetric Line Of Biometric Credit/Debit and Security Cards"
followed by,
"SmartMetric Brings Live Finger Detection To Its “In-The-Card” Fingerprint Scanner For The SmartMetric Biometric Credit/Debit Cards"
Back to Aug 24th 2018 "SmartMetric Announces Successful Completion Of Its New Multi Biometric Card Electronic Board Allowing For Just In Time Card Manufacturing For Five Different Types Of Biometric Cards From The Same PCB..."
Aug 29 2018 "SmartMetric To Release It’s New Advanced Biometric Credit Card And Security Card In September"
Sep 20 2019 "SmartMetric To Release World First Combined Cyber Security And Access ID Biometric Card"
Sep 28 2018 "SmartMetric Shipping Cards to Distributors for Card Lamination and Customer Personalization"
Oct 29 2018 "SmartMetric Finalizing Enterprise Systems Software Integration For Its Biometric Secure Access and Credit/Debit Cards"
We could do go on...
Each of these press releases should have been followed up with what came next. But we have nothing!
Based on company's statements the card has been "under manufacture" for the better part of 10 months.
Sadly all this paints quite the grim picture.
Flaflyersfan, business is business.
Look at Samsung and Apple for example. They've been at one another for years and have taken each another to court for various issues, yet Samsung still manufactures many components for iPhones being sold to this day.
Why would VISA care if smartmetric actually has tech they'd like to use? - Yes, yes. Big if...
@Hempqueen, I am not sure we've inferred via the bsmartgroup article that Servired is licensing from VISA or others a biometric card?
As to why Visa would need SMME, it seems not all that is available from VISA is their technology. Looks like anyone and everyone can build tech for use on their global network, but have to go through a lengthy testing and approval process. See https://technologypartner.visa.com. Let's hope this has been ticked off by smartmetric and VISA for that matter.
Someone must also be reading your posts. If you now go to smartmetric.com you're presented with a pop-up referring to Servired/advantis.
As always, we need more information from the CEO!
Clarity and transparency is required from Chaya period!
This is my first post on this platform and I must say I find the posts to the SMME board quite entertaining. I share much of the pessimism as many others here, while at the same time am trying to remain as optimistic as possible about this company and what it might be able to achieve. Alas, my optimism has limitations.
On Chaya
We all agree Chaya needs to come forward and provide more information about a number of things she has stated to investors.
Firstly, this sale to a university, in Argentina for an undisclosed sum of cards... Surely Chaya's legal counsel, who she tends to refer to when questions get tough, would have told her a press release of this kind is not legal... It couldn't be legal? It has about as much substance as a that guy in Melbourne...
Secondly, on the 22nd October they said they were finalizing integration of the card using MIFARE software. 5 months on and nothing more about this?
Finally on this point, Chaya has to release real news to the market, as we ALL agree. Chaya please stop with the rubbish press releases.
On ServiRed
As far as I can tell ServiRed is a privately owned company. So they probably won't ever put out a press release or anything of the sort to the general public.
On the other Resellers
What is going on with this lot? Which of them had cards sent to them for lamination and personalization per a press release in September?
We need more information here.
Is this all BS?
I would bloody hell hope not. I am hoping that it isn't BS for the below reasons.
Firstly, could Chaya continue to promote the card at exhibitions and the like if it were bs? What would she have on display?
Secondly, I find it difficult to believe that Geneva Roth Remark Holdings, would invest in SMME without seeing real evidence of where SMME is truly at with the card and possible sales?
https://www.otcmarkets.com/filing/html?id=13161675&guid=DgP3UHFvU4f3WZh
It's these couple of things that keep the optimism alive.
It is Chaya's lack of transparency that unfortunately keeps the pessimism kicking on.
For the sake of investors, Chaya must begin to release open, honest and transparent news. No more trash! We might find that some honesty could have a positive impact on the price. There goes that optimism again...
In any case, here's hoping...