SmartMetric Secures Additional $1 Million in Funding
June 06 2012 - 9:30AM
Marketwired
SmartMetric, Inc. (OTCBB: SMME), developer of "secured by
Biometrics" Credit and Identity Cards, announced today that it has
secured another $1 million (USD) in funding from private strategic
investors. The additional capital will be applied to operations,
most directly to complete the company's production facilities in
Buenos Aires, where the company will install key robotic assembly
equipment. This will finalize SmartMetric's full-scale
manufacturing capabilities of its enhanced fingerprint activated
EMV Cards.
"With the recent Appeals Court ruling on the SmartMetric Patent
Law Suit against Visa and MasterCard favoring SmartMetric on EMV
contact cards, SmartMetric is in a position to corner the market on
nearly every EMV credit or debit card issued and to be issued in
the U.S. -- already 1.5 million -- as well as new business
opportunities worldwide," said Chaya Hendrick, President & CEO,
SmartMetric.
SmartMetric's solutions combine two advanced technologies into
one card, namely smart card chip and Biometrics rather than the
less secure "chip and PIN" model. The market size for the
SmartMetric "Chip & Biometric" EMV Card is global and growing
very rapidly. According to EMVCo, approximately 1.2 billion EMV
cards have been issued globally and 18.7 million POS devices accept
EMV cards as of the first quarter of 2011. This represents 40.1
percent of the total payment cards in circulation and 71 percent of
the POS devices installed globally. EMV Card and terminal
deployments confirm EMV as the global payment standard. EMV cards
are chip and PIN smart cards.
For more information, please visit SmartMetric's corporate site
at www.smartmetric.com.
About SmartMetric: The SmartMetric,
Biometric Card Computer provides powerful computing with large
memory capacity in a revolutionary size that has taken more than 10
years of research and development. Using the latest in sub micro
technology electronics, the company has achieved a level of
miniaturization that allows it to release a solution of portable
computing power that, combined with SmartMetric's biometric
fingerprint in-card scanning technology, is so revolutionary it
will change the way business is done and information is handled
across a broad range of industries. For further information please
go to the company's website: www.smartmetric.com
Safe Harbor Statement: Certain of the
above statements contained in this press release are
forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those indicated in the forward-looking statements as a result of
various factors.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact: Public Relation: Fusion Public Relations
Victoria Yarnish P: (310) 481-1431, Ext. 18 Investor
Relations: Constellation Asset Advisors, Inc. P: (415) 524-8500
Company: SmartMetric, Inc. P: (786) 269-2238
SmartMetric (PK) (USOTC:SMME)
Historical Stock Chart
From Jun 2024 to Jul 2024
SmartMetric (PK) (USOTC:SMME)
Historical Stock Chart
From Jul 2023 to Jul 2024