Thinking that one of the distinctions vs. IWSY is that EyeVerify involves "doesn't leave device security". As opposed to IWSY which involves anonymous match in Cloud. Below from EyeVerify web site. I am "over my skis" here in terms of in-depth knowledge, but guess would be that EyeVerify would say that being "revocable" provides an extra layer of protection...but this is different from IWSY real-time, anonymous match in Cloud. May speak to one of the challenges for IWSY...even "on the device" is much better than current password system...and if banking, other institutions see it as a more expeditious path to an end...they may go for it even if not as robust, flexible in the end as IWSY solution. Would like to see CARP weigh in.
User data never leaves the device
Encryption key = 50 character complex password
"you didn't do your homework" with respect to your comment about being "embarrassed"...or with respect to your buying without understanding the risk/reward of investing in a startup biopharma in the first place? Not trying to be smartass, just trying to understand the point.
Thanks Carp. Yes, I had looked that up as well. Also noted that ValidSoft relatively small themselves and have "going concern language" in their financials. To be clear, not a show-stopper in and of itself to me, but also the reason for my comment about the benefits of IWS being agnostic.
Thanks. Same here on transcript. I was surprised at how just about everything Miller mentioned was to be completed/done by end of Q2. Would think if not the case, he would have hedged his bets a bit more. The German initiative about having to convert to Linux also seems to be reasonable explanation of delays there....
I will need to go back and re-listen. But a few things that stood out to me as postives that were not specifically mentioned in the PR:
Miller predicting cash flow positve by end of 2015 (the analyst with question kept confusing Miller statement by saying end of 2016).
Said they have submitted application for Nasdaq listing.
Provided a status with respect to ALL of their partnership deals, including decent amount of detail. Spoke to the fact that the TransUnion deal included a hybrid structure...some transaction oriented, some per person oriented.
Said joint venture with Middle East partner would likely kick off by end of Q2...with payment to IWSY happening this qtr.
Attending Fujitsu Conference in Japan later this week...one of Fujitsu's 6 "groundbreaking" (not sure what word was used) partners.
Additional significant partnerships to be announced in the short term.
Others confirming that multi-biometrics adoption very close to inflection point.
Again, just quick notes above...may have mis-heard some stuff.
"We have also recently entered in to advanced discussions with other large, private sector organizations that would build on the seven commercial partners we have signed currently. The size of many of our partners, and their ability to touch hundreds of millions of users around the globe, is what drives our strong outlook. As such, we remain undeterred by the pace of the rollout and steadfast in our goal to transition ImageWare in to a commercial-based provider of biometrics-as-a-service -- a transition we expect to drive significant shareholder value."
First Quarter 2015 Financial Results
Total revenues in the first quarter of 2015 decreased to $1.0 million from $1.1 million in the first quarter of 2014, primarily due to lower hardware revenue and lower royalty revenue from the company's channel partners.
Gross margin in the first quarter of 2015 decreased by 530 basis points to 71.1% compared to 76.4% in the first quarter of 2014. The decrease was primarily due to lower high margin software and royalty product revenues, and higher services revenue, which have inherently lower margins.
Net loss in the first quarter of 2015 was $2.3 million or ($0.03) per basic share, compared to a net loss of $1.7 million or ($0.02) per basic share in the first quarter of 2014.
At March 31, 2015, cash and cash equivalents totaled $8.4 million compared to $0.2 million at December 31, 2014. On February 6, 2015, ImageWare completed a registered direct offering of convertible preferred stock for $12.0 million. The company used approximately $2.0 million of the proceeds to repay all outstanding debt, and will use the remaining net proceeds of approximately $9.9 million for research and development, and other general corporate purposes.
ImageWare will hold a conference call today at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss its first quarter 2015 results. The company's Chairman and CEO Jim Miller and CFO Wayne Wetherell will host the conference call, followed by a question and answer period.
Date: Monday, May 11, 2015
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 1-888-208-1427
International dial-in number: 1-913-312-0672
Conference ID: 8766137
Only missing the financial statements:
ImageWare Systems Issues Corporate Update
Kicks Off First SaaS Biometric Installation With the Baja California Driver's License Program
SAN DIEGO, CA--(Marketwired - May 11, 2015) - ImageWare Systems, Inc. (OTCQB: IWSY) (ImageWare), a leader in mobile and cloud-based, multi-modal biometric identity management solutions, has issued financial results for the first quarter ended March 31, 2015.
"ImageWare's strategy to target large IT service providers and deliver security for their cloud customers remains on track," said Jim Miller, chairman and CEO of ImageWare. "Ultimately, our model is dependent upon our partners and we have formed very significant relationships with Fujitsu, TransUnion, CA Technologies, IBM, Deutsche Telekom and, more recently, with Agility and Extenua. All of these partners remain in the testing and implementation phase, and they have reiterated their commitment to ImageWare.
"While we certainly expected some of these agreements to be producing revenues today, it is important to note that we are dealing with large organizations that are thoughtful and methodical about the rollout of our transformational software. In some cases, they are building and refining their sales and marketing strategy, which will serve as the basis for product rollout. And in other cases, they have a plan to incorporate our software into new products that they need to still develop.
"During the first quarter, however, we completed our first SaaS installation and began to generate revenue on a per transaction basis with our on premise production version of GoCloudID. This system was deployed for the Baja California Driver's License program, providing fingerprint and facial recognition biometrics for over 80,000 current users and supporting production of additional users at the rate of 15,000-20,000 per month.
"We have also recently entered in to advanced discussions with other large, private sector organizations that would buil
Nope...I am still in...starting to feel like Linus in the pumpkin patch. HOPING to hear some encouraging signs of life on call...
Most concerning to me is that executives at the company seem to be compensated largely via salary....only options are big time under water. I think this company can succeed...but they might be inclined to declare bankruptcy/reorganize and start fresh based on their lack of incentive to avoid bankruptcy. This biggest to lose are of course common shareholders and those that have provided private financing source up to this point. The fact that previous private finance source not willing to pony up more money is concerning...perhaps a problem with new management relationship with these sources?
While I want to agree with you...and will continue to hold...and have added all the way down...I have been "connecting the dots" all the way to the poor house. Perplexing to me still that pharma (who has plenty of reputable scientists on their staffs)...have not also been able to recognize the science behind inflammation and benefits of AC....based on studies alone to date. They could partner with RCPI on the relative cheap...so what's the scoop?
Who is Ed McDonnell? From Zoominfo:
Mr. Edward J. McDonnell, MPH has a long, distinguished career in both the private, public and government sector. Most recently, Mr. McDonnell serves as President at Compliance Management Consulting, an independent consulting service, that provides expert advice, regulatory vulnerability assessments and compliance management know how to FDA regulated industries since 2000. Previously, Mr. McDonnell spent 5 years at Quintiles Consulting and Quintiles Quality Regulatory Alliance, (formerly BRI Quality Regulatory Alliance, where he was President and Chief Operating Officer), providing expert quality and regulatory services to the biomedical industry. Throughout this time Mr. McDonnell managed oversight of products, services, contracts, internal procedures, including U.S., European, and Pacific Rim requirements for GLP, GCP, GMP regulations and ISO 9000/Quality Systems Standards.
Mr. McDonnell's government experience includes a twenty eight year career with the Food and Drug Administration (FDA). He spent the last seven years of his FDA career as Director of the New England District Office, where he provided executive direction to consumer protection and enforcement programs throughout the New England States and earned the FDA Award of merit for precedent enforcement actions. During his ten years as Director, Division of Compliance Programs at the FDA's, Center for Devices and Radiological Health, he was responsible for the development and application of Good Manufacturing Regulations (GMPs) for the manufacture of medical devices and for the implementation of new medical device legislation. . McDonnell started his FDA career as a Food and Drug Inspector in the Boston District Office specializing in the inspection of drug and device manufacturers. At the conclusion of his FDA career he was awarded the FDA Distinguished Career Service Award
Mr. McDonnell earned a M.P.H., in Health Business Administration from the University of Michigan
Personally, although frustrated...I am not dissuaded from maintaining my investment and sitting tight. In spite of lack of solid orders/revenue, like the signs and number of irons in the fire otherwise. And no, I don't hang out in the pumpkin patch with Linus.
Agree. But certainly no guarantee of "good things to come" (and not saying you are guaranteeing as such). Clearly, with all these partnerships there is work to be done in development/integration...that certainly explains the hirings. My guess is that IWSY came to realization that they couldn't sell their product on their own...and it needs to be incorporated into a more comprehensive solution. I like having lots of irons in the fire...hope some start to pay off!
Most of ZAZA "property" in Walker County. So you find that other drillers having activity in Walker County is somehow irrelevant?????