Read someplace where many of the smaller players in biometrics being bought up by larger organizations. Wonder how much more runway IWSY will have before they are tempted by same. (and of course, at what price?). I do think what is reported here is VERY valid point...and may be one of the things that has ironically held back adoption. It just has so many dramatic consequences on supporting relationships, current industry structure, partnerships, etc.
Encouraging that they are looking for a Financial Analyst (even a junior one). Hopefully this means they are anticipating business...
Carp...seems approach of American Cyber/Extenua/IW is very similar to LM IDHaystack (including IW)...difference being hosting by AWS vs. LM....and whatever additional value add, of course, each platform is providing as part of their overall solution. I like that it DOES sound like there are multiple paths for IW to be part of larger government deals...and perhaps something that we will not necessarily learn about via traditional public PRs?
Irony is that if they get one good private, sizable contract, then maybe others will fall? I am very concerned that these guys haven't been able to close something. With their various partnerships and initiatives, I would think Lockheed represents the best shot...especially given that IW is INCLUDED within IDHaystack offering. I also like int he LM interview when they discuss using biometrics as a service within existing legacy as well as new workflow applications...given LM presence in government...that opportunity SHOULD be signficant. All that said, this has gotten very tiresome waiting for progress. And the German Healthcare thing?...Miller seems to have spoken about this in such vagueness such as "the German government has approved regulation now that would require the implementation of our project"....I am paraphrasing there...but what is the "real deal"?...and IS there a real deal?
Since it's LM product suspect mention of additional features would be listed there. You can get cc transcript on SeekingAlpha.
fyi, believe Miller made a comment on last call that LM was adding some things to the IW offering...which could be one of reasons for delay with LM in announcing any order. Also, I believe that IW is/will be a part of their product offering (aka bundled in)...not just an option.
They did the Q4 call last year mid-March. If they have something "material" to report then they have to report it. Although I am with you....would be great to hear some report of progress....
Realize I am playing "Linus" from Peanuts gang here, but....lack of deal may also mean IW playing some hardball with Agility based on not wanting to compromise their licensing value and feeling confident enough that other deals will be coming in...hate to stereotype, but Middle Easterners are brutal to negotiate pricing/deals with....
Well, nice to see it end year at 1.30 (at least from the perspective of the last few weeks). Someone still believes, or is covering shorts, or is making a bet on a better 2016, or "knows something"....or whatever.
Wonder if there is an actual transaction that was being contemplated to drive this joint venture announcement in March in the first place? 9 months to consummate an agreement should be enough...or if not, should probably stop talking about it and/or walk away.
Worth checking out Mitek Systems - about $25M in annual revenue and ironically, also HQ'd in San Diego. Wonder if there is an opportunity for collaboration with IW? Interesting that Mitek focus appears to be also capturing pictures of secondary means of ID such as driver license, passport, etc. as additional verification of ID on mobile devices. Also capturing check images as means for making deposits. Kind of a blend of new and "old world" but capitalizing on huge move to mobility in general.
tem 1.01 Entry into a Material Definitive Agreement.
On December 16, 2015, ImageWare Systems, Inc. (the “Company”) entered into amendments to the employment agreements (the “Amendments”) for Messrs. S. James Miller, Jr., Wayne Wetherell and David Harding, the Company's Chairman of the Board of Directors and Chief Executive Officer, Chief Financial Officer, and Chief Technical Officer, respectively. Effective December 14, 2015, the term of each executive officer's employment agreement was extended until December 31, 2016. A copy of each of the Amendments is attached to this Current Report on Form 8-K as Exhibits 10.1, 10.2 and 10.3, and are incorporated by reference herein.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
See Item 1.01.
Item 9.01 Financial Statements and Exhibits.
hope you are right...but I would think IW would be approaching companies like Cerner, McKesson, Allscripts, etc. Haven't seen any evidence they have or are doing so...doesn't mean they are not. Seems like the biggest healthcare 'presence" has been the stalled healthcare initiative with German government and the Pill phone app.
Lots of levels on features here...Carp, how sure are you that Daon doesn't:
Support fingerprint on device match with simultaneous match in Cloud with face or voice?
Support fingerprint on device match with simultaneous match in Cloud with face AND voice?
I suppose the performance, speed, scale with which IW can do these things (including other modalities, algorythms) is really the "secret sauce" that would differentiate IW from Daon and others.
Walk, agree with you on the "let's see a contract" comment. Obviously, what we are all waiting on. Would be interesting to also understand whether Daon is potentially in violation of IW patents. Even if they are, I suspect that IW rightfully chooses to ignore it (for now) given the lack of funding and some recognition that this is a nascent market still. Doesn't mean they can't go after them later. I suspect this might have something to do with why Fujitsu, LM may have partnered with IW vs. Daon. Of course, it's hard to know how superior, fast, etc. IW solution is vs. Daon and other competitors....
I think this is REALLY good news for IW. (would of course be even better if IW was the technology being deployed vs. Daon...but even that could be debated if IW ends up becoming part of solution chosen by traditional, large existing banks.). Atom is not even doing business yet (slated to "open" early 2016). They are using biometrics as a differentiator and profess to want to become the "Uber" of banking. That is success and growth spread by consumer word of mouth. You can bet that if this is successful, traditional banks will be running to ensure that they are doing everything possible to compete. It's great additional credibility for biomet multi-modal biometrics adoption. Love that Daon also mentions that USAA customers (also using Daon technology) using biometrics 4 out every 5 vs. traditional passwords.
Interesting perhaps that Unisys is not listed as a partner on IW website (I believe they were at one time) while IBM is listed there.
I would also add that due to the number of partners that IW now has...it is very possible that each customer implementation may even have nuances that change the look/feel/performance of the system. Clearly, Fujistus and Lockheed Martin, in particular may add their own value and proprietary expertise in the area of biometrics, etc. Also, Cloud2drive a unique solution...and I did get clarification that IW participates in EVERY sale of Cloud2drive product from revenue perspective...not just when GoVerifyID is more demonstrably/obviously being used.