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Lou Basenese

 
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  • In Anticipation Of A Short Attack On ImageWare [View article]
    A quick clarification about Apple's "multi-modal" patent b/c someone questioned whether I understand the true definition. I do, but wasn't trying to get into the nuances here.

    Apple's patent is not true multi-modal in that it anticipates another biometric input in addition to fingerprint (like voice or iris). Not yet, at least. Instead, it contemplates a second type of reading for a fingerprint input (moving mode or swipe).

    The significance, in my opinion, is Apple understands that a single biometric reading method is not sufficient. Multiple input "modes" in the general sense are necessary. And that bodes favorably for IWSY's true multi-modal approach.
    Sep 4, 2014. 01:12 PM | Likes Like |Link to Comment
  • In Anticipation Of A Short Attack On ImageWare [View article]
    Paul - I have my own independent research firm now. Disruptive Tech Research. You can find links to it in my SA profile.
    Sep 4, 2014. 11:05 AM | Likes Like |Link to Comment
  • In Anticipation Of A Short Attack On ImageWare [View article]
    Nothing promotional. B/t the two articles I've laid out the risks (dilution, not landing additional deals), set an exit point ($2) and tried something new on Seeking Alpha - addressed short attacks before they hit, since most rely on simply raising suspicions to deflate stock prices and then move on before anyone can speak sense into the situation.
    Sep 4, 2014. 11:02 AM | 3 Likes Like |Link to Comment
  • Is Imageware's Inflection Point (Finally) Upon Us? [View article]
    I wrote "average headcounts" because I agree with you. It will be with internal employees.

    Synaptics is a hardware play. It's the actual fingerprint sensor provider. Ditto for Idex. Imageware's tech is software and complementary to biometric readers.

    Yes, Imageware needs millions of users to generate significant rev and profits. My point is we're nearing the curve in the hockey stick - the inflection point. 28% growth is too conservative.

    Imageware's IP is unique in that it's multi-modal and allows for anonymous matching. Hence, it's valuable and can't be ignored for valuation purposes, either.

    Fair point on Miller talking about the new deal and ignoring past ones. Emida and Global Payout are two others we haven't had an update on in a while. But those talks pre-date the beefed up Fujitsu relationship. Could be because Fujitsu is getting IWSY into bigger, more meaningful accounts. In any event, I'll inquire about both.

    To clarify on the major financial institution - it was only a pilot, which was extended. Miller never characterized it as an "agreement in principle" with a "definitive" agreement imminent like he did with this one.

    Yes, more dilution is likely. But that comes with the territory with disruptive tech investments. The upside potential more than compensates for the dilution risk, in my opinion.
    Aug 14, 2014. 11:26 PM | 3 Likes Like |Link to Comment
  • Destiny Media's Problem Child Won't Move Out Of The Basement And Get A Job [View article]
    Thanks for all the kind words, K. I never vanished. I just try not to engage in the endless back and forth on SA.

    Like you, I embrace the beauty of the markets in that they'll ultimately decide who's right and who's wrong. When I'm wrong, I'll admit it.

    I do have to take exception to the "leading people off the cliff in UNXL" comment, tho. I initiated coverage on the company all the way back in June 2011. By the time all the mania started, we were in and out twice already.

    - Enter June 2011 at $7.50, out December 2012 (1/2 at $15.50 and 1/2 at $12).
    - Re-entered Dec 2012 at $13.34, out April 2013 (1/2 at $25 and 1/2 at $27.15).

    Shortly after, the good old fashioned Wall St. analysts took over and things got silly. I stayed away for months until prices collapsed below $12.

    At that point, I viewed it as a speculative play and recommended taking a small position at $11.38, which we ended up closing for a 34% loss.

    Far from perfect, but definitely not anything close to leading people over a cliff.
    Jul 18, 2014. 11:19 AM | Likes Like |Link to Comment
  • 10 Reasons Why The Sun Won't Shine On SolarCity's IPO [View article]
    I'm never afraid to admit when I'm (dead) wrong. In fact, I already acknowledged this one back in August 2013.

    See here: http://bit.ly/TsmR8P

    But thanks for reminding me!
    May 20, 2014. 10:28 PM | 1 Like Like |Link to Comment
  • Wall Street 'Bloodbath' Captured On Live TV [View article]
    Yes. My publisher prohibits it.
    Mar 28, 2014. 03:19 AM | Likes Like |Link to Comment
  • Blackstone Introduces Weapon Of Mass Destruction [View article]
    From the NY Fed data file: http://bit.ly/MUVjFr
    Feb 24, 2014. 01:37 PM | Likes Like |Link to Comment
  • Blackstone Introduces Weapon Of Mass Destruction [View article]
    Yes. It's a typo. My apologies.
    Feb 24, 2014. 01:33 PM | Likes Like |Link to Comment
  • Destiny Media's Problem Child [View article]
    I must have missed the memo about using random, unverified social media postings and Google Trends data as legit fundamentals for constructing an investment thesis. Can someone "in-the-know" forward it to me?

    Still making my way through this obvious hit piece. Will provide more concrete feedback shortly.
    Feb 19, 2014. 02:45 PM | 6 Likes Like |Link to Comment
  • Park City Group's Revenues From Most Important Customer Past Due [View article]
    Do your own due diligence. Although facts are presented in this article, it makes faulty assumptions and draws the wrong conclusions.

    I say that after researching the company for over two years, including meeting with management and other institutional investors interested in the stock on multiple occasions. Unlike the author who only listened to a webcast, I attended the Dallas conference.

    The ownership structure of ReposiTrak was set up in such a way to limit PCYG's downside if the product never gained market traction, while also preserving its upside if it, indeed, did. There's nothing suspect about it.

    And by all accounts, ResposiTrak is gaining meaningful market traction.

    In December 2013, the Food Marketing Institute (FMI) exclusively endorsed its use to its 40,000 retail food store and 25,000 pharmacy members.

    Plus, the company is in the process of on-boarding thousands of suppliers (i.e. - converting the pipeline into revenue).

    In the next 12-18 months, I estimate the number of suppliers on-boarded will be enough to generate positive free cash flow, at which point PCYG can exercise its option to own up to 75% of the business.

    It's important to note, too, that PCYG negotiated its potential ownership percentage UP from 49% to 75%. That's a positive development, not a negative one. Now that ReposiTrak has proven to be more than viable, PCYG can share in even more of the upside. PCYG is not "bailing out" anyone, as the author suggests.

    Like I said from the outset, do your own due diligence. If you do more than simply comb SEC filings, I'm confident you'll arrive at a different set of conclusions.
    Feb 4, 2014. 03:42 PM | Likes Like |Link to Comment
  • Parametric Sound: A Turkey's Desperate Attempt To Avoid The Chopping Block [View article]
    Alpha Exposure: Is your track record better than the top performing small cap growth mutual fund manager over the last 5 years - the $825 million Hodges Small Cap Fund (HDPSX)?

    Because they just purchased all 364,286 shares in Parametric's $5.1 million equity raise (http://1.usa.gov/187aKUK)

    With an average annual return of nearly 20% per year for the last 5 years, I'm sure they don't have a clue what they're doing, though.
    Nov 20, 2013. 01:47 AM | 3 Likes Like |Link to Comment
  • The 3 Most Dangerous Stocks In The Market [View article]
    Ruby Tuesday closed at $7.55 on Oct. 9. Reported earnings. Now trading for $6, down 20%.

    Thesis was simply that stocks follow earnings. They did for RT.
    Oct 16, 2013. 08:38 AM | 1 Like Like |Link to Comment
  • Parametric Sound Merger Not Likely To Be Positive For Shareholders [View article]
    Can you say, denial? Funny how I don't remember the "Fed taper" being part of your short thesis for this stock, Paulo. Now it's the excuse.

    Only a few more weeks till one of us gets to eat crow :-)
    Sep 26, 2013. 01:44 PM | 1 Like Like |Link to Comment
  • Rise Of The Droids And The Downside To Globalization [View article]
    SA syndicates content from our free e-letter, so I don't regularly respond to messages here. Rest assured, I've been in regular communication with subscribers about IWSY.

    IWSY is one of a portfolio of recommendations in disruptive technology stocks. The investment strategy involves an expected time horizon of 18-24 months before the tipping point hits for commercial adoption of each technology.

    We've been following IWSY since March 2012 at $1.05. Based on my research, we're one commercial deal away from the company going mainstream.

    If that doesn't happen, by all means, I'll apologize to subscribers for getting it wrong. For right now, our investment thesis remains intact. Especially since Apple rolled out a phone with biometrics baked in, which is based on technology it acquired from AuthenTec, a previous recommendation of mine that took about 1-year for the big payoff. (I initiated coverage in July 2011, Apple acquired in July 2012).
    Sep 14, 2013. 08:34 AM | Likes Like |Link to Comment
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