Hello Sai - You should definitely visit the company's website at jawstech.com. That will give you a good background of what has happened since April/98 when Jaws basically started.
The Reader's Digest Version
I don't know what you know about encryption software, but Jaws claims that it has the strongest (hardest to break) in the world at 4096 bit. To back up the claim that it is the strongest, from May 28 to July 28 of this year, the company offered a $5M prize to any person or group that could decrypt a special encrypted message. No one was able to "crack the code".
Usually with strong encryption, you have to sacrifice speed and size - but not with Jaws. If it takes a long time (speed) to encrypt a file, then people won't want to use it, but Jaws encrypts large files very quickly even when compared to lower levels of encryption software (56 bit, 128 bit, etc.). Size is important when you consider applications that are space sensitive, e.g. smart cards, cell phones. Jaws is not only a software program, Jaws can be hardwired into a chip in a computer, smart card, etc. A goal of Jaws would be to have the encryption as part of the firmware of the computer that you buy - Intel Inside, Jaws On Board.
So now we need sales. Two of our board members, Art Wong, now with Network Associates and Julia Johnson (read her bio, very impressive), have been instrumental in setting up meetings with major companies for Jaws this past month. I think that we'll see some PRs announcing contracts in October. The company, with Ernst & Young as their auditors, should be filing their Form 10SB-2 with the SEC within 2 weeks. Depending on how quickly the SEC can move, the company should have fully reporting status by mid-December. Not bad for a BB company that basically started in April.
The stock has been drifting this month because of lack of news and general market conditions. The company made a gaffe about a month ago by saying that there should be a PR each week announcing new contracts. They weren't able to deliver (they didn't lose any contracts, they're just taking longer than they thought to get completely done), so some investors have lost patience. However, as I said before, I think we've turned the corner and we will see contract announcements in October.
Some disclosure about myself. I started off as an investor in Jaws in March because of an investor friend of mine. I knew no one in the company, but I phoned them, spoke to Chris McNeill whose company was handling IR for Jaws, and said that I would start a discussion group in SI for them. Chris had no idea what SI was all about, but he said "sure". I guess he liked the job I was doing, so, in September, he offered me a job as his company's "net presence."
If you are interested, please take some time at the website, and then feel free to ask me or the rest of the group any questions.
Barrie Einarson
bbruin@home.com |
