Why would the board members or Debello purchase on the open market when they hand out liberal stock options every 2 to 3 years. By the way, Debello is overdue for his next large stock option. He does receive a huge chunk about every 2-3 years. Check it out.
Realize short interest is somewhat high. However, can you explain the relatively high call to put ratio on this stock.
Fidelity has sent out the notificaations to account holders today. I received mine by email this morning.
"It’s here: the new Fidelity BillPay® 2.0 for 529 accounts
If you haven't already activated the new Fidelity BillPay® for your Plan account, it will be ready to use the next time you log in. Your existing information will appear in the new view and no action is required. Click the link below to explore the new BillPay."
1. Motion to compel
2. Disclosure of Infringement Contentions
And you will have a good grasp of what is going on.
PS: Kinda like a local poker game where ones wants to show there cards first.
Mitek offers photo bill pay apps support to banks. One bank already offering the service is U.S. Bank Mobile app. This service will
1. Snap a Photo of the bill stub.
2. Capture the biller and account information.
3. The biller is added to save or pay.
Now the save or pay option seems to be important. Does anyone know if the Mitek contract/license receives compensation for both the "save or pay" option?
Question is? Does Mitek receive compensation for all usages or just the initial setup (capture)?
Jor, 10.2 trillion seems to high. That would have the amount being about equal to the Federal Reserve number for M2. Seems way to high.
Gold, Understand that the article was old. I was just responding to Whey2play mentioning that he had seen " a penny a pop". That is all. There could be some validity to the article since Mitek sued USAA for disclosing confidential info concerning contracts and pricing. .
The pricing policy for the flagship product is questionable. And, it has been mentioned that the pricing model may change for future products.
Hello Jorlev, I appreciate your updating of the financial institutions beginning to offer mobile apps including mobile deposit software. They definitely are falling in line to offer these bennies. Unfortunately, Mitek needs about 2,000 to 3,000 just to come close to matching Chase alone. I would offer one suggestion, only because you have the data. Could you include a running tally of the total deposits going forward. Is that possible with your data? Or, do you have a list of the institutions offering mobile deposit apps and I will tally the numbers.
Hello whey, Found the article.
Here is the quote..............
"The investor community, prior to this disclosure, had been under the assumption that MITK was receiving $0.10/deposit, however, USAA has revealed a much lower number, closer to $0.01. In addition, a recent Wall St. analyst covering the company pointed out that Chase (one of their largest top 10 bank clients) is not paying for blocks of transactions either."
What is bad for Mitek Systems is Good for Top Image Systems by Neil Cataldi
by disclosing confidential pricing and other...............
"On April 12, 2012, Mitek filed a lawsuit against USAA for patent infringement and breach of contract. Mitek believes USAA is infringing upon five of Mitek’s patents related to its Mobile Deposit® product. Mitek is also alleging that USAA breached the parties’ license agreement by using Mitek products beyond the scope of the agreed-upon license terms, and by disclosing confidential pricing and other confidential information for a Mitek legacy product installation"
whey, I have also seen that written comment and it mentioned that is part of the lawsuit (usaa released confidential information). however, have not been able to confirm it with any other source.
Gold, your correct, I do not own any at this time. Watching and waiting for some good news with other products and lawsuits. Like the product.
Still, you have to admit the numbers and estimates I am using are really close to actual quarterly results.
Correction. First of all, the last quarter revenue for software was approx. 2.7 million. Now that equates to about 108 million transactions during the qtr. That would put your 400 active bank average at about 270,000 per bank for the quarter. Also, one should estimate 70 bank business days for the qtr. Using these estimates there are about 4,000 transactions per day per bank (on the average). Averages are tricky stuff. Now you have to remember that BoA is up to about 160,000 per day. That alone significantly distorts the average value because at 160,000 per day BoA is like having 40 to 80 small banks in the average. Then you have to consider Chase, Wells Fargo, etc. I think you are ignoring the fact that there are very dominate players in the financial industry.
Now, 4000 per day times 70 business days is 280,000 per bank times 400 banks (your number) is 112,000,000 million transactions for the quarter times .025 equals 2.8 million.
I truly wish Mitek was receiving 8-10 cents per transaction or even 5 cents. Then, I would definitely be buying. Keep working on the estimates and you might consider that 8 to 10 cents is a dream number