SmartMetric Inc (SMME)

[John_Vallay]

The company issues a press release on friday regarding their biometric card.

Not ONE card has ever been sold.
Not ONE card is even in the market.


The company filed a 10Q. It would appear as if the company raised over $900,000 recently. That was raised at a discount to market based on VWAP, which means a couple hundred million shares with be sold into the market by the investor (Mast Hill Fund Company) that gave Smartmetric the $900,000. The share price will go down because the investor will sell at 10% discount to market in tranches. As the investor sells, he gets more shares,all based on the VWAP which means he bets shares cheaper and cheaper for every tranche the company gives him.

It's Like a Death Spiral for the stock.

The beauty is that the company spent about $285,000 for the 3-months ended March 31 on salaries and expenses. Salaries go to Chaya Hendrick.

The expenses, other than costs of press releases and accountants, are business expenses (travel, meals, etc) all benefitting Chaya (man, woman or other)