SmartMetric Inc (SMME)

[1NVEST0R]

I'm not convinced that this is a "no brainer"
A quick Google reveals there are 232m American adults with an average of 2.6 credit cards each.
That's around 600m cards with a monthly cost of 5-10 dollars?
That 36-72 billion a year. I believe CC fraud is around 7 billion in the U.S. annually.
Unless someone can show me where I've made an enormous error in my calculations, I just don't see a market at that price.
You might find the 1% will pay the premium, but that would still leave 99% vulnerable to fraud.
To put it in perspective, $7b in fraud divided by 600m cards = $11.67 in fraud per card per year.
Surely the cost of preventing fraud must be lower than the cost of the fraud to make it viable.
The Ford Pinto case highlighted this sort of cost-benefit analysis decades ago.