Jack of Stocks,
I would say 1.25 million is reasonable. Here's where I factor it:
1.Start with this quarter, roughly 450K.
2.Add 500K for Sharper Image contract. Unlike Cyberkey, Sharper Image won't default because they're broke and never had the money to afford the contract.
3.Royalties for June of 07 are reflected on the 10Q as 17K. Everyone here knows that the rollout may have begun in June 07, but was not completed and really out there until July of 07. Looking at Black and Decker's numbers on the 10Q, I'm willing to believe that the revenues they are generating on the SmartScans is way more than 3 times what it was in June of 2007. Therefore, I believe the royalties are much higher and will be reflected in the 10K when you do the math on the 4th quarter.
4.There is no toxic financing here.
5.Sharper Image is well known. Brookstone is a similar kind of company, always looking for cutting edge products. I wouldn't be surprised if they latch on later seeing what SI does with sales. That's just a guess, of course. But it isn't like putting up pictures of products that aren't Sequiam's or anything. This company doesn't do things like that or have anyone do things like that.
6.International sales. Clearly Sequiam is attracting business away from the US, and we know it's selling in Canada as well, as has been mentioned by some here I believe in the past. Long as Home Depot is selling SmartScans, they're more than just the US, and that bodes well.
7.Don't forget Fujitsu. There's got to be a good reason why they like Sequiam's technology. Otherwise they wouldn't waste their time.
8.California DOJ. There is no reason to get approval by them if you don't have something in mind. It would not surprise me in the next 6-9 months if some sort of initiative was taken where BioVaults were used in lockers around the state to store officers' guns when not in use. Considering the crime rate in CA, they could use all the protection for firearms that they could get.
9.Warrants. Between restrictions on the ones Nick sold after purchasing Biometrics LLC to prevent the power struggle, and the fact that all the warrants that are out there at .21 and above end up bringing funds into the company, I don't see a majority of dilution coming from those warrants anytime soon. Should buyers take out the overhang to .21, I could see this going to .30-.35, hitting a wall next year at some point due to some of the .01 warrants being sold, depending on the % growth of the company by that point. But from these levels, gains of anywhere from 50-150% are not unreasonable to foresee if continued growth is achieved.
10.Transparency. We know everything going on. What is the sharecount, what are the sales, what is happening with the company. It's there for all to see, no gagged T/A, no legal issues facing Sequiam. Power struggle gone. Great leadership in the new board members. Powerful names linking in with Sequiam.
IMO/FWIW
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