Sirius you are way off base here. Every time I talked with Gersten he was patient, concerned and as helpful as he could be considering his position representing the company..
This vendetta against him is ridiculous and erodes any credibility you have left especially after your wildly bullish predictions on ETAK as well as HIPP (gone) and SPDL none of which to date have panned out. GROW UP.
I think a lot of us, (me included) were at least encouraged to seriously consider investments in HIPP, ETAK and SPDL because Sirius recommendations of these stocks were supposedly based on his proclaimed superior credentials and knowledge in the space, his great success with these kind of investments and his sky high predictions for their futures. As we now know, HIPP is gone, ETAK is struggling mightily to stay alive and SPDL is on life support. I mostly blame myself for investing in companies I really didn't thoroughly understand. But as far as I am concerned, Sirius has lost all credibility and for that reason I am belatedly ignoring anything else he has to say.
My experience with Steve Gersten was very positive. He was always available and answered his cell phone jmmediately ever time I called. He gave honest answers and seemed genuinely interested in my concerns. I for one will greatly miss his accessibility and transpaarency.
Several shareholders have apparently individually written to SVV about stepping down. This obviously has had no effect. I would like to suggest that a letter be addressed to each board member signed by a large group of shareholders expressing in a respectful but firm manner our dissatisfaction with the performance of our CEO and, as a result, the continuing under performance of our stock price. We can cite the various missteps that has contributed to this result. We can also praise his monetary contributions, but suggest perhaps a Chairman of the Board position is more suited to his talents.
It seems to me that perhaps a strong and coordinated effort by a significant number of long term shareholders expressing a view that the board members may be coming around to themselves may provide the impetus to get the job done.
How about Validsoft's solutions including biometric solutions?
The list of U.S. retailers hit by hackers in recent years is too long to list here but includes Neiman Marcus, UPS, P.F. Chang's, Michaels Stores and, most infamously, Home Depot and Target. The attacks on just those latter two retailers exposed more than 90 million credit card accounts combined and helped finally push the U.S. to adopt card-chip technology.
Long used in Europe and the standard in myriad countries around the world, card-chip technology creates a unique code for each transaction. Because the codes change with each transaction, criminals can't use them to create a counterfeit card, a major improvement from magnetic strip where all the account information is permanently stored -- and thus vulnerable to theft.
The U.S. reliance on magnetic strips is a key reason why roughly 50% of credit card fraud happens in America even though only about 25% of all global credit card transactions occur here, The AP reports, citing Barclays.
Widespread use of card-chip technology has been shown to reduce fraud by over 70% two years after adaptation, Stephanie Ericksen, vice president of risk products at Visa, tells me in the accompanying video.
The move to card-chip technology in American is accelerating because, starting in October, retailers that haven't upgraded to use them and banks that haven't issued them will be liable for any fraud that occurs as a result of theft. The American Bankers Association estimates fraud cost the industry over $1.7 billion in 2012, so the financial services industry is highly motivated to get chip-enabled cards to its customers. Ericksen estimates over 60% of American credit cards will have the embedded chips by the end of this year. (Often referred to as chip-and-PIN, the chip cards often require a PIN but can also be authorized with a signature or even just a swipe, depending on the transaction, Ericksen says.)