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Alias Born | 11/29/2016 |
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Friday, December 08, 2017 12:01:17 AM
Our software application is completely built and tested. A top six US credit card issuer has tested our software application, a test in which we reviewed and scored Chapter 7 filings under real-time market conditions. We initially filtered 250,000 accounts resulting in the scoring of over 125,000 accounts containing approximately 1.5 million transactions and encompassing a total account balance in excess of $525 million.
On July 6, 2011 we submitted two non-provisional patents-pending - #61361594, covering pre-bankruptcy fraud detection apparatus and method, and - #61361599, covering post-bankruptcy fraud detection apparatus and method. From our existing modules and tools, we have as many as an additional two dozen patents to be filed.
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Our software is commercially ready. Converting the technology into revenue requires a significant investment in sales and marketing. In the year following the close of this offering, we intend to invest in our California subsidiary to begin actively marketing and selling our products into the financial and government sectors.
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