The difficulties of this sector are two: First, it lacks credibility due to the Comparator (IDID) scandal last summer of that set the NASDAQ record, and, there were the unsupported contract announcements by IDX uncovered and made public late in the summer. Following those two problems, FINX fell with the industry. Tom Harding has constantly refused to release "pie in the sky" announcements even in the face of the maturing "B" warrants in January. You will be surprised to learn that more people than you might think exercised those warrants in spite of the stock level. My estimate exceeds $500,000. The exact number will be released soon. Also, remember that the $2,000,000 raised by Gordon last summer is still coming in monthly...and some banks have offered up to $1,000,000 plus which the company has refused rather than further dilute the stock. Those of us on the Shareholder committee specifically set stock aside for just such sales to assure operational capital. There is sufficient money to operate. The augmented announcement of the conditions of the $450,000 British deal were clarified to completely disclose the terms of the purchase of stock and in no way should be read (as asserted here) that the company is going down again.
The second difficulty is the lack of a forensic standard. The Feds are raising the minimum standards next year. Only FINX's three dimensional process has approached or exceeded those standards in testing and reliability. Once certified by the FEDs (a process they will complete in their own time while we all twist in the wind), it is highly likely that the results of testing of Fingermatrix's revolutionary "Check Ten" with such companies as IBM, EDS and Harris Corp. will be made clear...and then credibility may return to the sector. You should also expect some activity in the northeast with respect to the smaller "Check One" system.
Richard M. Dopkins |
