Replies to post #5616 on SmartMetric Inc (SMME)

[billybobski]

Also just whizzed through it....

The 2014 figures for R & D shape a bit better at ~30% if you add in value of shares taken for services. Still a bit low to my mind.

page 4: ".... production will commence within 90 days following the closing of the current instit'l round of funding ...."

page 7: "We will need approx. $3M of the net proceeds to be used to complete the production of machinery ...."

page 9: "Software engineering is undertaken primarily in Argentina ...."

page 10: " .... plans on releasing (card) .... within 90 days from completion of funding for its manufacturing."

page 17: " .... exited its Argentina offices in Feb 2014."

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So, we're to have the cards manufactured under contract but we need finance to purchase/build machinery (?)

Software development now to be carried out somewhere else, not Argentina (?)

bb1