I'll take a stab at re-assessing some of the "facts" you presented. I know your source is mainly your broker, and brokers ALWAYS present unbiased opinions. I still don't know what my opinion is on the company yet, but I only own a few shares so I can afford to wait and see. The new product that is coming out that is supposed to cost $200 is called "Biometric Encryption". (I am quoting from the annual report here)"Biometric Encryption is a process that securely links a small piece of digital data to a biometric such as a fingerprint so that the data can only be retrieved by presenting the same fingerprint to the system". I emphasize the word "process". Touchstone, on the other hand is hardware. The two systems thus complement each other. The fingerprint reader, Touchstone, enables the fingerprint to be encoded, Biometric Encryption secures the data desired to that algorithm so that it can only be decoded by the correct fingerprint. So Grecco is not, in fact, pushing a cheaper product which will replace Touchstone, he is pushing a product which will complement it.
The TRW thing was a letter of intent, so I don't think any contract was broken. Obviously it didn't work out. Although I too appreciate it when people mention the bad as well as the good news, I don't see too many CEO's fighting each other for the newspaper headlines to tell everyone how things didn't work out as hyped.
I was the person who mentioned the 600,000 shares. I'm sorry, I was wrong. I look at the BC Security Commission's insider trading report on the net each week and it says the number of securities acquired and sold. I just assumed that it meant shares, I forgot about options.
I believe that Mytec's product is a good one, after all, it was one of 5 companies in the world to be certified by the ICSA...that's got to mean something.
I'm not saying you're wrong to be angry, you're probably right. But don't misrepresent the facts based on hearsay.
Jamie |
