Progress is taking $25M and turning that into a products that drives revenues in 3 years. Sorry, it doesn't take 15 years - and now, you can simply get off the shelf parts made in China, Taiwan and Japan (even Germany and Italy) and create something that does the same thing. I think the idea here was to develop the technology first, before ANYONE else can, and get it into the market. There is no unique software or back end integration needed, because the Chip itself already has a standard platform within which it is required to operate, and all biometric chipsets come with matching algorithms. The BIG claim to fame here was, that the CEO (laughable) miniaturized all of the necessary components to fit within a standards cards physical dimensions..... and that took 15 years? SMME claimed that it developed the "worlds smallest finger sensor" years ago. The disclosures don't show the money necessary to dedicate to the engineering, and thats why I suggested last year, she is using someone else's sensor. Haven't been proven wrong yet. Authentec took 3 years and $120M to develop its finger sensors before Apple acquired them. Same costs and development time with Atrua. I already supplied links to companies that now have all of those component technologies you can piece together to put a biometric scanner on a card. Prove me wrong. This is what we get with an inexperienced CEO who has funded a 15 years science project on the backs of shareholders while living the good life. Go figure.......
I want to see a working card, but when given the right venue and opportunity to demonstrate it, SMME "chose" not to, but they did "show" the card. Its all smoke and mirrors unless we see a card working, and even now if it does, the card issuers will be doing a cost analysis on whether they can just hire an engineering form to slap them together, or SMME would supply. But another huge obstacle......VISA nor MC will allow SMME to fund manufacturing based on their orders. No, SMME will have to raise about $40M to guarantee back the ability and quality of the product if SMME even gets that far. Based on how this CEO pirates, its doubtful to me at best.
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