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Basenese’s “Secret” San Diego NFC Security Stock

Sniffing out the mobile security pitch from MicroCap Tech Trader's Louis Basenese

OK, OK, the questions on this one are getting a bit overwhelming — and I’m afraid that if I don’t cover this one soon the villagers will soon be gathering their fiery torches and marching on Castle Gumshoe … so here goes.

Louis Basenese and the folks at Wall Street Daily are pitching his MicroCap Tech Trader by promising huge returns for a small company that he thinks holds the key to secure NFC transactions — and which will generate big licensing revenues as their key patents are put into use by Google and Apple, among others.

So what’s he talking about? Well, much of the ad is about the risks and promise of near field communications (NFC) — this is a wireless protocol, kind of like bluetooth but shorter range, that allows two devices that are typically within a few inches of each other to communicate. In practice, the consumer-facing applications are mostly smart cards (like you might use for your local transit system), contactless payment cards or keyfobs (like that little ExxonMobil keychain you can wave in front of the pump to pay for your gas), or, in the next wave of this development, NFC chips in cell phones that let you use your phone as a “digital wallet.”

In all cases, NFC security is an issue — that’s because you don’t have to hold the card or phone to connect with the NFC chip, it’s wireless and someone with a transmitter might be able to snoop on your wireless transactions or even ping your card, chip or phone to try to “hack” it to get the pertinent numbers and ID info. That’s why you see them marketing NFC-blocking wallets with layers of aluminum (or whatever) to prevent snoopers from sniffing out any cards you’re carrying, and that’s why, to at least some extent, NFC and the “mobile wallet” cell phone that you use to pay for everything haven’t really taken off yet — though both are more prevalent in some Asian and European countries than they are here.

That’s not the only thing slowing the adoption of the chip-based “cell phone as wallet,” of course — there are plenty of security concerns, but there’s also the lack of clear standards, competition among providers and payment processors and lack of easy interoperability, the rising capabilities of app-based or other non-chip payment solutions (you can pay via PayPal or your smart phone at Home Depot or Starbucks, for example, and those don’t use NFC chips).

And there’s also the simple fact that consumer acceptance of new trends is often very slow — particularly for financial products. People are comfortable with credit cards, for the most part, and NFC isn’t that much faster or easier — but debit card use only exceeded check use a few years ago, and though check use is still falling sharply there are still billions of checks processed every year by the Federal Reserve. The impatient foot tapping you do when the person in front of you in the express line at the grocery store when tries to buy two cans of tuna and pay with a check may not be necessary soon, but it doesn’t mean that person will be paying with their cell phone next year.

There are also, as you might expect, roughly a gazillion companies trying to get their foot in the door in NFC payments, whether they’re card or reader makers, software or security companies, chipmakers or payment processors or phone builders … everyone wants to have a piece if this turns into something big. And big is expected, though soothsaying the speed of acceptance is not easy — early adopters and futurists have been predicting the mass consumer rollout of the “mobile wallet” and cell phone payments for more than a decade now, the technology to use a chip in your phone to make a payment has been around for longer than “smart phones” (contactless chip-enabled payments by mobile phone were launched commercially in Japan and South Korea a decade ago — not without challenges, but they’re pretty established at point of sale terminals and in vending machines thanks to that head start at working through the challenges and the tech early adopter culture in those countries).

So that’s the backdrop, as best as I can share with you in a few moments — what, then, is the specific little company that Louis Basenese is teasing as a key player, a company that he thinks will have licensing deals, key announcements by August 14, and good exposure on Apple and Android devices very soon?

Well, for that we’ll need some clues. Unless, that is, you’d like to pop over and subscribe for $3,500?

Oh, wait, this is also one of those “we’re going to write you a check” teasers — so it’s not $3,500, it’s $3,500 minus the check for $2,650 they send you … so the newsletter is actually going for $850 these days.

But regardless of whether or not you want to pony up that kind of cash for a breakthrough-tech newsletter, I’m guessing you’d like to know the name of the stock first, right? Take away that crazy “tell me the secret now!” impulse, and make a sober decision about subscribing after a good night’s sleep? Sure, we can do that — I’m certain I won’t cover the stock as thoroughly as Basenese, and I won’t tell you whether or not to buy it, but I’m pretty sure we can identify it for you. And the price? Much more free-ish (though of course, we always delight in welcoming new members to the Irregulars, our $49 a year premium membership group — just to entice you further, those folks would have already seen the answer to this teaser and a nice quick summary in the beige box on the left).

So what are our clues from Mr. Basenese and the MicroCap Tech Trader?

Well, they’re frankly a bit thin — so we might not reach 100% certainty in our match today — but this is what we get:

“… for the better part of a decade now, the world’s corporate giants have been building the infrastructure for ‘mobile wallets’ and wireless payments to become the industry standard.

“Their logic is pretty straightforward…

“Easier ways to pay for products and services will mean more sales. A lot more sales!

“The technology powering everything is called near-field communications. Or ‘NFC,’ for short, which allows for easy, convenient payments at stores around the world.

“The heavyweights are pushing all their chips in on NFC.

“In fact, credit card giant, Visa, has predicted that people born over the past five years will never own a physical wallet.”

So the argument, basically, is that there is such a massive, global, corporate push for NFC payments that they will overcome the security concerns — and at least in part, they’ll do so using the technology of this company that he’s teasing. Or, as he puts it more floridly:

“Armed with only a smartphone, crooks can steal a mountain of credit card numbers with little more than the touch of a finger.

“More credit cards just got stolen this very second.

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“Beep. Beep. Beep.

“And the giant corporations are powerless to stop it from happening.

“They haven’t been able to develop the software smart enough to stump the crooks.

“They’ve tried everything, too!

“Enter one tiny company trading for less than two bucks.

“A company that holds every conceivable patent needed to stop these thieves dead in their tracks.

“By extension, this tiny company is also the gatekeepers to the entire trillion-dollar M-Commerce market.

“I expect The Bigs to secure this brilliant anti-theft technology for themselves any minute.”

So … any more specific clues hiding in all this puffery? Here’s what I found to feed into the Thinkolator for you:

“This time, the announcement concerns a company trading for less than $2/share….

“I’ve been tracking this company’s innovation from the very point of inception.

“I’ll see it through to its completion, too, which could happen as early as August 14, 2013….

“… this less than $2-a-share, San Diego outfit already has all the necessary patents in place…

“The biggest companies in the world MUST deal with it.

“These patents can secure their transactions, and get their $1 trillion juggernaut rolling….

” I’ll rush you that certified check for $2,650….

“You can do as you please with the money….

“… you’ll want to use the cash to purchase shares of this tiny company.

“At current prices, that’s about 1,800 shares. [note: that would be a price around $1.50]”

So that gets us partway there. A little more?

“one single investor (the man I told you about earlier) has already snatched up an amazing 38% of the company’s shares.

“Here’s the deal…

The two largest players in the smartphone market - the giants responsible for more than 94% of every smartphone in the world - are poised to start deploying this tiny, less than $2-a-share outfit’s technology.

“This company is in substantive discussions with multiple partners.

“And its ground-breaking patented technology stands to become THE standard of protection for nearly every smartphone on the planet.

And he says his “Validation Report” on this stock includes:

“Confirmation of a market-ready, antitheft prototype for the Android.

“Confirmation of the first antitheft prototype for the iPhone.

“And all the details concerning the August 14 announcement where I believe news of a partnership will hit.

“A partnership that could ultimately lead to this company’s technology protecting all Apple and Google wireless devices.”

And, of course, it’s small and uncovered:

“most everyone knows that mobile payments will ultimately become the industry standard, no one realizes that a tiny company stands as the gatekeeper…. not a single Wall Street analyst is even formally covering the stock.”

And there’s a big insider buying, we’re told:

“A short while ago, one single investor - just one - increased his stake to nearly 40% of this company’s outstanding stock.

“Nobody - and I mean nobody - takes a stake like that in a tiny company trading for less than $2. That is, unless they KNOW something big is unfolding.”

Phew! So, a few clues hiding in that mishmosh of temptation. What’s our stock?

This is, so sez the Mighty, Mighty Thinkolator, ImageWare Systems (IWSY, trades over the counter)

And yes, it’s quite small — market cap around $140 million now that it’s run up with the attention from Basenese. And it does have a 38%-owning insider, Director Neal Goldman of Goldman Capital Management (not Goldman Sachs, just to be clear), though the shares he’s added over the last year have all been options exercises.

Though they do position themselves as having a security solution for the “mobile wallet” and mobile transactions, they do so with biometrics — this is a biometric security software company that was focused initially on photo and face recognition when they were a stock market darling in 2001 and hit $14 briefly (I expect their biometrics technology is face recognition, but I’m not sure about that). The stock declined pretty gradually over the early 2000s, coming to a head when they were delisted from AMEX when the price stayed under a dollar in 2008.

They describe their main offerings related to secure identities here.

And the basic catalysts that Basenese appears to be foreseeing are described (though with perhaps less certainty) in the conference call they hosted to give a “business update” about a month ago — you can see the transcript of that call here, but the basic “upside” possibility comes from this bit from CEO Jim Miller:

“We have reached a very exciting crossroads where the cloud and mobile computing have intersected with biometrics. The rapid expansion in availability and use of mobile devices presents an incredible opportunity. As these devices have become culturally ubiquitous and nothing short of phenomenal in their reliability and robustness, the door has swung open to provide security for the myriad of transactions that occur on these devices every single day. While you can easily ascertain that it’s my phone or my device, you can never really be sure who exactly is using it. The more transactions and sensitive information that can be accessed via mobile devices, the important it is that this critical security piece of the puzzle be solved. Happily, it’s this solution that the new generation of ImageWare products addresses and solves.

“We have also continued to develop and advance our biometric secured mobile transaction technology that is built upon the patented wireless interactive messaging technology we acquired from VOCEL last year. We’ve now married this technology with our Biometric Engine and other existing foundational patents to build interactive mobile applications that can be secured biometrically.

“On the last call, we announced that we introduced the first demonstration models of this mobile technology on the Android platform to key potential corporate users. We have now a production release of our Android product and will soon release our iPhone demonstration product. We are currently in substantive discussions with several new clients regarding licensing opportunities. We strongly believe that the combination of these technologies provides yet another substantial competitive advantage for ImageWare.”

The company believes it’s on track to generate enough cash flow to cover costs as they start to sign more licensing deals (they’ve signed one so far, it appears, with global payments processor Emida), so they think they’ll have enough cash and liquidity for the year — thanks partly to a line of credit from their largest shareholder (Neal Goldman again). So I guess quite a lot is probably riding on their next six months or so of potential deals and rollout of their technology to a possibly broader audience.

I have absolutely no idea whether or not they will build a meaningful user base or achieve any kind of leadership in mobile security or authentication for mobile payments or anything else, they but I’m quite sure this is the pick Basenese is touting. It’s the very definition of a “story stock”, you certainly can’t justify the valuation based on their current business or financial position or even on the orders and deals they’ve made, it’s too early in the process to have any idea what their revenue potential might be or whether the product will become important to consumers or payment processors or retailers … but if it can grow into that story that Louis Basenese spins and generate a little tiny penny of revenue from each of billions of mobile transactions someday, well, then it’s a cheap buy with massive potential growth.

There are lots of biometric security companies out there, and lots of mobile security companies and technologies, most of which probably won’t become critically important — so you have to have confidence in the technology and the story to want to buy this. I do not know how valuable their patents might be — they bought the key patents from Vocel that they think will help them expand into the consumer market more aggressively just last year, and most of their work seems to have been with governments before that — credentialing and IDs and border authentication stuff, as far as I can tell.

IWSY has generated no meaningful amount of revenues over the past decade, and have churned through well over $100 million in losses during that time, so perhaps all that investment in their technology will come to something? That’s your call to make, let us know if you’ve an opinion to share with a comment below.

P.S. No, I don’t know if there’s anything other than guesstimates behind the August 12 date that Basenese teases — whether he thinks they’re just a couple months from more deals or product announcements (like an iPhone product), or will have an other corporate update by then (they did issue a “progress report” in mid-August last year). That’s right around when their next 10-Q quarterly report is due to be filed with the SEC, so maybe it’s just that and a hope that they’ll begin to report higher cash flow by then.

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Lisa
July 12, 2013 1:17 pm

Roller Blader, here is a link of the Feb. 27, 2013 article by John Gilliam, who is a manager for Point Clear Strategic Holdings, specializing in value oriented small caps:

http://seekingalpha.com/article/1230041-buy-hipcricket-while-augme-is-still-a-four-letter-word

Robertovelez87@gmail.com
Guest
Robertovelez87@gmail.com
July 12, 2013 2:32 pm

Lisa have you really not gotten the invite?

Lisa
July 12, 2013 2:36 pm

I did. Sent you a couple emails to your gmail–am having some problems I don’t understand or know how to correct. Must be doing something wrong–can’t figure out solution. Never joined a group before. When it comes to IT stuff, I’m worse at that than at trading, and that’s pretty bad!

snailmailtrucker
snailmailtrucker
July 14, 2013 1:06 pm
Reply to  Lisa

I have had a SEND problem with Gmail.
Nothing I send gets out unless…. try going to your SENT folder and see if the emails you are trying to send have been sent.
Mine have not, and there is a box in the upper center section that says that the sender (me) is not recognized and needs to be approved.
Insane…yep!

Lisa
July 12, 2013 11:55 pm

This link breaks down the funds who hold IWSY, how many shares, and shares bought or sold, as of March 31, 2013:

http://www.nasdaq.com/symbol/iwsy/institutional-holdings

roller blader
Guest
roller blader
July 13, 2013 4:31 pm

I think AUGT looks like it has great potential so I got 10,000 shares at .306.
Also, I believe that ARTH Arch Therapeudics (in my back yard – Cambridge, MA) has restructured financially and organizationally – poised to play in the big-boy arena with their unique AC5. I’m getting 1,000 @ around 1.00+ and need to find some more money to get another 4,000 or so – I wouldn’t be surprised if they’re strategically aligning with Johnson and Johnson – J&J has many patents that expired and need more products. Also, there are so many lawsuits against J&J for the uterine mesh mishaps. For now I’m sticking with 8,500 IWSY.

Lisa
July 13, 2013 8:02 pm

Alex Binkis: I sure owe you a big thanks for ALNY comments! Nice!! Have you joined our yahoo group? Roller Blader, Roberto, myself, and 2 others are on board. Roberto set it up. If you wish, please join us. Same for Eric and the rest of you. You can ask Roberto to invite you–see comments above, numbers 46 and 54. You can also just create a yahoo account and join in without an invite, as its an open forum. Hope to chat with you all there! At least until the next Basenese teaser we ask Stock Gumshoe to decipher for us!

Lisa

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alexm28
Member
alexm28
July 13, 2013 9:01 pm

I will watch ALNY Monday.It closed $50.04 Friday But accordingly to candlestic chart it does not look it will stop at this level RSI still very strong. I am also looking for another 10 bagger. Good Luck Monday.

👍 1
Lisa
July 14, 2013 12:10 am
Reply to  alexm28

Alex–Got your message about trailing stops–good call–thanks! I am thinking of this one as a long-term investment rather than a trade, and was trying to figure out a good entry price, but then it shot up Thursday, so I jumped. I only took a very small position for now, and would like to add on pullbacks. I think it is a fascinating company, one that greatly intrigues me. If they find a way to do what they think they can do, they shall have found the fountain of youth, and I don’t make that claim lightly! Its truly incredible. And they will likely put most other biotechs pretty much out of business. Have you looked at Northwest Bio, symbol NWBO, by any chance? Its highly speculative, as are most start-up biotechs. I find that one to have a lot of promise. I’ve been following it for a couple of years, and I believe that the company is very ethical. They are trying to come up with a vaccine for gioblastoma multiforme–the most lethal form of brain cancer. I don’t know if you like the biotech space, but if you do, you might want to take a look for yourself. Sure hope you’re right about another $10 bagger. Will chat with you Monday!

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alexm28
Member
alexm28
July 14, 2013 5:15 pm
Reply to  Lisa

In my humble opinion if you wait for pull back now you might miss the train .I am planning to buy at market not even a limit price order on Monday .DJI might be pulling back and pull all stocks down I shall see

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Lisa
July 15, 2013 2:05 am
Reply to  alexm28

Yes, I worry the train could pull out without me. I might add more in premarket–futures looking decent thus far, but EU markets not yet open. Earnings kicking into full swing; markets have high expectations, so enough misses/poor guidance could smack stocks back down. Noticed UPS lowered full-year guidance; many think that is not a good harbinger for 2nd half. Have a great trading day, Alex. Please stay in touch–I enjoy your thinking/strategy sharing!

Lisa
July 15, 2013 10:55 am
Reply to  Lisa

I had bought a Dell with Win 8 last Dec, and wound up taking it back–had all kinds of problems, and didn’t know if it was the computer or the OS. I bought a Lenovo with Win 7 Pro, and its been the best computer I’ve ever owned–very happy with it. Meanwhile, my online broker is revamping the entire trading site and phasing out what I’ve been using for years, and now I have to learn a whole new trading system. I hate wasting time having to learn new stuff because of technical changes–I just want to trade. Had to make an appt so they can walk me through the set-up. Guess you can tell I’m not a geek! 🙂

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Truman Roper
Member
July 15, 2013 12:58 pm
Reply to  Lisa

Lisa, the WIN 8 episode in your life is typical. MS just changes the OS to justify new sales.
Scottrade at $7 a trade hasn’t changed in years. Easy enough to navigate. Not really a “Trading” spot if you mean buying and selling in one day or one hour. They do have no extra cost for “limit” buys. Nice.

Lisa
July 15, 2013 10:02 am
Reply to  alexm28

Good morning, Alex! I refrained from pulling the trigger on ALNY today. I checked the options, and they weren’t so hot. Am weighing selling a put at $35.

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alexm28
Member
alexm28
July 15, 2013 10:10 am
Reply to  Lisa

You are right.I am sorry my charts lied.I did not buy ALNY this morning.I am switchig to Windows 8 from older wersion XP so Ihave to spend a lot of time on learning new operating software and less time on stock research

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Truman Roper
Member
July 14, 2013 4:47 pm

So where are y’all going with this blog on Yahoo?
I have a Yahoo account already. I just need a name to start looking at for comments. right? Thanks.

Roberto
Guest
July 14, 2013 5:08 pm

Truman and anybody else interested, email me at Robertostockinvestor@gmail.com or robvelez87@hotmail.com and i will send an invite for the group, i will also post a link to the group here. Hope to see you guys and girls there.

http://finance.groups.yahoo.com/group/iwsy/

Berto

Roberto
Guest
July 15, 2013 10:53 am

HOW come everyone is still talking through here? lol

Lisa
July 15, 2013 12:29 pm
Reply to  Roberto

Hey, Berto! I checked the yahoo group, but guess everyone’s busy trading. I sort of went on a tangent with Alex regarding ALNY. We will have to get Alex to join us!

Lisa
July 15, 2013 1:43 pm

Hello, Truman! Thanks for the Scottrade info–I’ll take a look at them.

Lisa
July 16, 2013 7:41 pm

Hi, Eric. ALNY sure took a hit today. I have more buy orders in to cost average down. Want to hold onto this one for the long-term. I was a bit nervous seeing those Bollinger Bands getting stretched so wide the last couple of days. Prior to its run, it had a lot of support at $30. They are a long way off from any results, so I think we’ll be seeing a lot of huge price swings over the long term. Hope all is well with you. All the best ~ Lisa

Alan Harris
Guest
Alan Harris
July 19, 2013 7:34 pm

Is this a pump and dump blog or Gumshoe?

traderj
Irregular
July 19, 2013 8:56 pm

hey alan i believe the site is being hijacked by some rouges when i joined the lisa and rollerblade all had great thoughts but suddenly that has changed joe

Lisa
July 20, 2013 1:21 am
Reply to  traderj

TraderJ & Alan:

Its Lisa here. I still check in here at Gumshoe. Berto thought that we were overusing Gumshoe’s site, and he offered to set up a group forum on Yahoo. Quite a few of us have moved there. Please see comment #68 above. Berto will send an invite to anyone asking to come aboard. I have to admit, I like Gumshoe better, because I can see all the postings right away. The Yahoo site requires the moderator to approve all messages first, and sometimes that can be a while. Anyway, I did find some news on IWSY, so I’m copying it for you below. I check in nearly everyday, so stay in touch, okay? I wish all the very best in trading! Lisa

SAN FRANCISCO, CA–(Marketwired – Jul 18, 2013) – The 2013 Gateway Conference, featuring more than 50 public companies and 250 institutional investors, portfolio managers and analysts, will be held on Tuesday, September 10, 2013 at the Palace Hotel in San Francisco.

Attendees will have the opportunity to learn about exciting growth companies across a broad range of industries, from technology, business and financial services, digital media and clean-tech to consumer products, retail/e-commerce, life sciences and natural resources.

The conference format is invitation-only, providing a select group of portfolio managers, research analysts and brokers from buy and sell-side institutions a unique opportunity to gain insights into each business and sector through company presentations and one-on-one meetings with senior management.

The conference will begin with registration and an opening reception at 5:00 p.m. on Monday, September 9. Company presentations, Q&A sessions and one-on-one meetings will be held on Tuesday, September 10, starting at 8:30 a.m.

For more information, contact Liolios Group at gateway@liolios.com or (949) 574-3860, or visit http://www.liolios.com and click on the Gateway Conference icon.

Presenting Companies (as of July 18, 2013)
Active Power (NASDAQ: ACPW)
Ballard Power Systems (NASDAQ: BLDP)
Barrett Business Services (NASDAQ: BBSI)
Black Diamond (NASDAQ: BDE)
Burcon Nutrascience (NASDAQ: BUR)
Coastal Contacts (NASDAQ: COA) (TSX: COA)
Cortex Business Solutions (TSX VENTURE: CBX)
CPI Aerostructures (NYSE MKT: CVU)
Diamcor Mining (OTCQX: DMIFF)
Digimarc Corporation (NASDAQ: DMRC)
Edgewater Technology (NASDAQ: EDGW)
Elite Football League of India (Private)
Energold Drilling (TSX VENTURE: EGD)
GraphOn Corporation (OTCQB: GOJO)
HCI Group (NYSE: HCI)
I.D. Systems (NASDAQ: IDSY)
ImageWare Systems (OTCQB: IWSY)
Iteris (NYSE MKT: ITI)
Kona Grill (NASDAQ: KONA)
Landec (NASDAQ: LNDC)
MicroVision (NASDAQ: MVIS)
Navarre Corp. (NASDAQ: NAVR)
NV5 Holdings (NASDAQ: NVEEU)
Odyssey Marine Exploration (NASDAQ: OMEX)
On Track Innovations (NASDAQ: OTIV)
PFSweb (NASDAQ: PFSW)
PURE Bioscience (OTCQB: PURE)
Real Goods Solar (NASDAQ: RSOL)
Redknee Solutions (TSX: RKN)
Research Frontiers (NASDAQ: REFR)
Salem Communications (NASDAQ: SALM)
Selectica (NASDAQ: SLTC)
TeleCommunication Systems (NASDAQ: TSYS)
UniPixel (NASDAQ: UNXL)
Vermillion (NASDAQ: VRML)
Visualant (OTCQB: VSUL)
Wireless Ronin (OTCQB: RNIN)
XZERES (OTC Pink: XPWR)
ZipRealty (NASDAQ: ZIPR)

For an up-to-date list, visit the Gateway Conference website.

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mamartuk
Guest
July 20, 2013 2:26 am

i agree with traderj just above…..what was the point to create a yahoo forum?
I stay here.

Lisa
July 21, 2013 1:02 am
Reply to  mamartuk

I have no idea what TraderJ said, as I don’t see his post. I just explained the reason we formed a group–we felt we were abusing gumshoe’s site, especially since we began talking about other stocks having nothing to do with any of Travis’ articles. So we got together to talk about a lot of different stocks and ideas. It would not have been fair to Travis. I love Stockgumshoe, and check it almost daily, but I don’t want to abuse it. You are free to remain here, as you wish. You are also welcome to join the yahoo group. Its up to you. Its a lot of fun–just some nice people kicking around some ideas about trading.

Lisa

Alan Harris
Guest
Alan Harris
July 21, 2013 5:39 am
Reply to  Lisa

Hi Lisa
I think I started this criticism as I also thought you guys (collectively) were misusing GS space. Just bad timing really. It was considerate of y’all to move it elsewhere. No hard feelings and I wish you luck.

Lisa
July 21, 2013 11:36 pm
Reply to  Alan Harris

Hi, Alan! Apparently, we all arrived at the same conclusion about possible misuse of GS. Absolutely no hard feelings here–we both agree! I wish you the very best of success in your trading. I will stay in touch on GS, when appropriate, and will very much look forward to continuing interaction with you and all the others here. I appreciate your last follow-up very much! Take care, and happy trading! Lisa

todd welch
Member
todd welch
August 12, 2013 12:24 pm
Lisa
August 12, 2013 5:06 pm

According to Basenese, IWSY’s “big announcement” will be this Wed (8/14) at 5 PM. He says it is “confirmed”. Best to all. Lisa

Jay Hooper
Jay Hooper
August 12, 2013 5:10 pm

The company is holding a corporate conference call at 5pm on Wednesday. Hopefully to announce some ground breaking news….
http://finance.yahoo.com/news/imageware-systems-sets-corporate-conference-200500418.html

Berto
Guest
Berto
August 12, 2013 5:25 pm

Basenese sent the same letter that Travis deciphered to me yesterday, with the same 3500$ charge and he will give you 2225$ so 850$. Lets hope that by him sending it again he really thinks something will go down!

Fingers crossed!

Berto

Truman Roper
Member
August 12, 2013 5:56 pm
Reply to  Berto

Berto, do not say “Go down”
Say “happen” instead.

Berto
Guest
Berto
August 12, 2013 6:00 pm

Hahaha your right,

Berto

rsbunn
rsbunn
August 14, 2013 8:44 pm

Just read through their financials via Yahoo. IWSY gross profits were up 19% from the same period last year. Their costs were also up. Based on the 10Q and my calculations, if correct, show an increased loss. That said, many of the announcements they made point to profits in the current quarter. I would expect next quarter to show better financials.

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