Wow! The company must be doing awesome. Officer leaves "to pursue other interests" and he gets paid for the next year to pursue those other interests. Wished I could work at a company like that!
Anyone have thoughts on sales staff leaving? Bob Williamsen, Chief Revenue Officer, left according to 8-K on May 19th. Larry McGonagle, their top sales person recently left and now works for Equinox. Bob Sanfellipo was their VP of Sales and on their website was demoted to regular sales person, but on LinkedIn shows he left IDN in April. Competitor SureID announced about a month ago they won all US Marine Corps bases
I listened to last conference call and they appeared to be positive, but when caller asked Roof how many sales people the company had, Roof hesitated and told caller (AMW their top investor?), he didn't want to answer that on the call, and would give AMW the information "off-line." Why?
Their last Q revenue was under $1million, perhaps the worst quarter in terms of revenue in over a decade, and worse revenue was down from even their worst quarter a year ago. Why?
Only press they are getting are from little bars for AgeID for about $12/month. This is essentially the same product that was called Barzap before, and that Roof stopped selling on Apple and Google as he indicated their was little revenue there. Now he brings it back?
What happened to their military sales? (dried up? competitor SureID?) TWIC Sales? (not mentioned since last management team)? Wireless? (he sold that group off for peanuts?) Hotel Industry? (nothing?) All the retail deals their CFO mentioned were mentioned by the last management team on their calls.
What's different? One thing is hugely different is new management team has significantly increased costs. Costs, burn of cash, and net loss are all much worse. I am worried that it is just less and less revenue, higher and higher costs, and this last couple months much of the sales team either quit or was fired. Why?
Roof took over 20 months ago, and all indicators seem much worse. Time for new CEO not new sales team?
Just one person's opinion. Maybe the board of directors will act soon before its too late.
Judge released CLAIM CONSTRUCTION ORDER today and effectively rendered their patents worthless.
"The court agrees with IDScan and CONSTRUES this term as a means-plus-function limitation in which the function is “reading both human recognizable information and machine recognizable coded information from the document into the apparatus” and the structure is “a digital scanner or its equivalent, and one or both of a magnetic reader and a bar code scanner, or their equivalent.”
Guess what - Neither IDN nor IDScan do what the patent now describes. Neither company scans human recognizable information - IDN does not compare the human recognizable information captured from a digital scanner to the machine readable information captured from the barcode scanner.
So the base patent - 623 - which ALL the continuation patents are based on is Kaput!
OK... read more into it than was implied...
Joe investor wants to see his filings within 45 days of the end of the Q.... he really doesnt care about weekends and extensions (which would be a kiss of death)
The 13th is the day investors consider the last trading day before the 15th
when the above is the defense of the late filing.... we know that the #s are gonna suck... only hope is thatr whomever stepped in after last Qs(K).... the powers that be will step in again... however cash will have taken a huge hit this Q with the Ludlow payout and operating costs...
It will be difficult to try and say that yet another significant round of dilution isnt on the near term horizion
Timing- trying raise money before disastrous Q2 results are made public? No PR of sales of any type for over six months, poor results Q1, Chief Revenue Officer left last month, all numbers worse since Roof took over 6 quarters ago, costs way up, and NOW they are running out of cash. Board, Fire that loser Roof before you raise more money. The guy has been a disaster. Enough is enough. FIre him NOW!
Over the past 4 years I've held the stock and traded in it...I firmly believe in the idea...and I am thankful for the recent run up. I am out. after the Run up from $1 to $2.00 I have chosen to diversify my holdings. I will continue to monitor the stock and on a major pull back choose to re enter..
I often observe the messages and it sometimes frustrates me when inaccurate statements are made by individuals who represent to have full knowledge of various laws and deadlines. Just for the record the last "legal" filing date for a company with capitalization below 75m for this corresponding 10Q is May 16th or May 23rd based on a 5 Day Extension with Filing of NT 10-Q - Not May 13th... Just stating the facts. Have a great day!
The only thing management is good at selling is company stock. You accurately cite recent failures but these are just the recent ones. The company has a long history of failing to make money. Here is a summary from a 2003 short seller report - Bushido Equity - This was in 2003 - and it still is accurate today.
Summary: Our overall opinion for the near, intermediate, and long term performance of IDN shares is negative. IDN produces a device which reads bar codes found on the back of identification cards. Numerous competitors sell similar or superior products at lower prices. During its nearly 10 years of existence IDN has never shown a profit and its sales have been insignificant, yet IDN has enriched its managers and other insiders by creating and selling shares to outside investors. IDN does so through the frequent issuance of press releases which imply that the company's future prospects are bright. IDN focuses its operations on creating alliances and agreements with other organizations and individuals in order to provide material for its press releases, and none of the alliances or agreements have ever resulted in any but token sales. IDN has an extensive network of brokers and agents who assist it in selling its shares to the public and maintaining its stock price. In our opinion, IDN is a stock promotion scheme intended for the sale of stock rather than sale of a profitable product. In our experience and research in modern stock markets, we have never seen a company with these attributes which has ended well for outside investors.
I understand that the lawyers for IDN have asked Yahoo to help for you posting this lie. Don't think for a second that you cant be sued for this. You can say you like or dislike th company but when you say a Judfe released a construction order you have a BIG problem. Why don't you post something again they can then find you that much easier
but a $10.00 price is not hard to believe after reading so good luck Tommy
Yes but he 'neglected' to mention that IDN prevailed in seven of the nine claims and the case goes to trial on May 22nd. This is a long way from being over.
Brilliant. An exception in the sordid history of this stock. Still selling at less than two percent of its issue price when it went public almost two decades ago.
This reply from berryhater makes no sense. Take a deep breath. Cool down and edit the message again.
That's not the word at all. Why troll these boards. I happen to know how things are really going and your story could not be further from the truth. But that is what these boards are for right to make up stories