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Friday, June 20, 2008 4:22:31 PM
Identa is dealing with large bureaucracies - it will take a long time for Identa to get to the point where their products have been tested, then are approved for purchase, then are purchased in small quantities, and then finally some day are purchased in large quantity with repeat orders.
The PRs we frequently see from Identa tell me that the company is still in the "get the foot in the door" phase with many governments and police depts, and in the "small test orders" phase with others.
I have no idea if Yaacov has been overly optimistic with the promises he has made, or whether he has been shrewd in stringing the market along to give Identa time to make the progress mentioned above.
Either way, from a small investor's perspective, I think it is folly to expect anything different in the near future than what has happened in the past with Identa.
I do think it's smart to keep Identa on one's radar and hope that someday the company gets traction and starts growing - and buy back in then.
For now, I'd be fearful of how long it's going to take Identa to start bringing in sustaining revenue, and I'd wonder where Identa is going to get the money to keep running until the revenue starts flowing, and I'd wonder how low the pps can go and when a reverse split is going to be done. And I'd know that there's not going to be official trust-worthy answers to those questions, so we'll just have to guess at them and perhaps sit on the sidelines until the answers become clear enough to attempt to make good investing decisions.
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