I attended their presentation at the Redchip conference in NYC on Sept 30th. William O'Dowd appeared to be extremely smart and capable. He has a great track record with Dolphin Entertainment which has been very successful in creating children entertainment on Nickelodeon. The company went live with their product on Sept 29th. They are hiring a sales force (about 40) to market this across the country. They will target groups - like Boys scouts, school districts etc. Possibilities sounded great. O'Dowd said the sales force should increase by years end. Fingerprint hardware will be sold at cost ($15.00). Cost will be $5 monthly billed annually with automatic renewal.
They will face competition if they are successful as anyone will be able to copy their model.
O'Dowd said they have enough money at the present time. I got the feeling they need to start signing up groups and have some revenues or they will need more $$ next year.
Needless to say this is highly speculative and is only for investors with a high tolerance of risk.