I was told LaserLock Technologies (OTC: LLTI) has signed an agreement with Citigroup Credit Card Division for use of Laserlock's patented ink changing technology. Citigroup negotiated for exclusive rights to utilize the process in exchange for a payment to the company of $346.96 per calendar quarter.
LaserLock commented that this will result in a substantial leap in revenues and therefore intends to introduce to shareholders present at the annual meeting a motion to grant management additional options at a cost basis of zero.
The guy also said that LaserLock was so overjoyed that they seemingly overlooked a provision saying that LaserLock would be liable for any allegations of fraudulent activities Citigroup might face in the event use of such credit cards might be involved with questionable mortgage backed securities or similar types of issues Citigroup faces in the normal course of business.
drac444 - I was mistaken when I said $346.96 per calendar quarter. It is actually $3469.60 per calendar quarter according to this person A ten-fold increase.
If what this individual told me in a bar around 1am when we were both completely sloshed is correct, he emphasized that this contract marks an entry point with the "big players". That it represents an investment in the crucial expansion of LLTI's recognition within its market. Maybe gambling industry accounts will be next.
Anyway, I'm thinking of putting in a limit order for a couple of thousand shares at 8.5 cents If it is filled, I hope to get a ten-bagger on this one.
Gee Mr. hank- somehow you seemed to have broken the "cloak" of secrecy surrounding this company as it relates to revenues. You have a sort of Van Helsing-like aptitude to break thru the nonsense and discover where the real revenues- and associated risks- might lie.