SmartMetric Inc (SMME)

[mrnutsandbolts]

The short story is that since the issuance of patent "464" ALL 4 major credit card companies have infringed on the Smartmetric patent.

The part of the appeal to the Markman hearing which Smartmetric lost covers only about 5-10% of the transactions since the issuance of the patent.

Therefore, the 90-95% of card transactions which have ALREADY taken place have infringed upon the patent....and the 4 major credit card companies will have to compensate Smartmetric for that infringment... How much is the next step.

Note in Mastercards annual report the year the first lawsuit was filed--2009?--they set aside $400 million for lawsuit loses.

You can do the math...but remember to take out attorney's fees!!:)