Tue, 27 Apr 2004 09:54:49 -0500
US Stock-Market - Stock Profile of the Week
Symbol: QIIIF
Market: NASDAQ/OTC.BB
Sector: MICRO-ELECTRONICS
QIIIF already has an impressive array of clients, including some of the world's leading corporations like IBM, Bank of America, USA Today, VISA Intl., Chase Manhattan Bank, Mastercard intl., and more.
Before we begin our profile we have very exciting, breaking news...
RICHMOND, British Columbia---PRNewswire-FirstCall---QI Systems Inc. (QIIIF), the industry leader in smart card solutions, announces that the company has launched a new sales and marketing effort, both domestically and internationally. The company is promoting its memory card technology utilizing informational programs, direct sales contact and an enhanced market presence.
QIIIF is preparing for a renewed presence in high level trade associations, such as ACT Canada and Card Tech / Secure Tech, and is planning to attend several major technical meetings during the coming year. In addition, the company plans to seek promotional opportunities in key trade journals and publications.
STOCK PROFILE OF THE WEEK
QIIIF's focus is the design, development and marketing of payment terminals for smart cards. The primary applications are unattended point of sale (UPOS) systems such as soft-drink vending machines, snack vending machines, laundry machines (washers and dryers), pay-and-display parking systems, newspaper boxes, photocopiers, etc.
INTRODUCTION TO SMART CARDS
A Smart card consists of a microelectronic chip embedded in a plastic card with a contact pad on the card's surface and/or an embedded antenna for "contactless" communication. As a payment device a smart card is a much enhanced and more versatile version of a magneticc stripe card or debit card. Value loaded to a smart card's purse is prepaid and resembles cash.
Smart cards can be used for secure purchase of goods via a payment terminal interfaced to a soft drink vending machine, snack vending machine, laundry unit (washer or dryer), newspaper vending box, pay-and-display parking terminal, transit gate, photocopier or other Unattended Point-Of-Sale (UPOS) device. There is no need for exact change or for any change at all.
Smart cards can be used as well for payment in attended Point Of Sale (POS) applications, and can also be used to confirm identity, to access buildings or to carry data such as personal health records, driver's license details, and biometric data including finger prints or voice prints. Biometrics can be used to further authenticate identity for high security applications.
SMART-VEND SOLUTION
SmartVend solution is made for your vending needs. Already the SmartKit has been adapted for a variety of applications including Drinks/Snacks, Newspaper, Parking, Copier/Vending, Laundry and Water vending.
SmartVend for Printers and Copiers:
SKC supports existing OEM photocopiers by Xerox and Kodak and printers by Hewlett Packard and Epson. Interfaces for other OEM equipment can be rapidly developed. Depending on host machine support, SKC can be installed at cost-cutting without its console housing in existing payment cabinets. The SKC design makes installation simple, both in the field and on the factory floor.
Machine sales and vend data upload and exception log handling are accessed by a handheld device or merchant accumulator card. SKC may be bundled with either, pre-paid disposable, or reloadable cash cards for use with our card dispenser and reload stations. All system components support electronic audit.
THE FUTURE OF SMART CARDS
The applications for smart cards in the future is limitless. We would like to focus on one in particular.
As the debate over a national personal identification system intensifies, the smart card industry is gearing up a campaign to make sure its chip-based technology is the leading contender for such a system.
The Smart Card Alliance, the industry's trade association, released a white paper Jan. 30 that argues for the advantages of smart cards against other technologies that could be candidates for a personal ID card. The alliance will use it to initiate a concerted pitch to policymakers in the public and private sectors.
Alliance members have been encouraged by what they see as the leading role of the federal government in the recent growth of smart card use.
"Once the Common Access Card [CAC] for the Defense Department has been issued, we expect other agencies will begin to pick up on the use of smart cards," said Bob Merkert, director of strategic accounts, and PC and network security for SCM Microsystems.
DOD has committed to issuing the CAC to 4 million military and civilian employees, he said, and distribution could be extended to more than 13 million people when retired personnel, family members and others are taken into account.
The State Department also is implementing a smart ID card for automated access control of its buildings, the Veterans Administration is looking to pilot smart cards for issuing benefits, and the FDIC is using a smart card-based PKI for remote access of databases by bank auditors.
All of this, along with the adoption of smart cards by financial institutions, debit and other type card companies and other organizations, means "we are seeing the rebirth of the smart card industry, and its expansion past the level of the initial adopter," Merkert said.
With the emphasis on protecting the privacy of the cardholder, the alliance claims that smart cards reveal only as much information as is needed for any particular transaction.
CLIENTS
QIIIF already has an impressive array of clients, including some of the world's leading corporations:
Bank of America
Chase Manhattan Bank
First Union Bank
IBM Corp.
Lexis Systems
Mastercard International
Maytag
Royal Bank of Canada
USA Today
USA Treasury Department (Veterans Administration)
VISA International
MANAGEMENT
President and CEO
Steven R. Garman
Mr. Garman brings the Company over 35 years of business experience in the international corporate environment and brings to the company a diversified management background including senior executive positions in varied industries such as health care services, high tech medical devices, computer products, OEM manufacturing, and sports and recreation. Mr. Garman has held multi-million dollar P & L responsibility with an international market leader and served as CEO and President of a pre-IPO start-up. He has been named a member of the Board of Directors of multiple start-up corporations and has served as Managing General Partner for a private investment firm.
Please note that HTDS had absolutely nothing to do with this report and is not a participant in any way.
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Micro-Electronic Ticker is an independent research firm. This report is based on Micro-Electronic Ticker's independent analysis but also relies on information supplied by sources believed to be reliable. This report may not be the opinion of QIIIF management. Micro-Electronic Ticker has also been retained to research and issue reports on QIIIF. Micro Electronic Ticker may from time to time purchase or sell QIIIF common shares in the open market without notice. The information contained in this report shall not constitute, an offer to sell or solicitation of any offer to purchase any security. It is intended for information only. Some statements may contain so-called "forward-looking statements". Many factors could cause actual results to differ. Investors should consult with their Investment Advisor concerning QIIIF. Copyright 2004 © Micro Electronic Ticker Ltd. Nors S.A., Apartado 0832-0588, Calle 53 Marbella, Panama City, Panama. All Rights Reserved. Micro-Electronic Ticker was paid four thousand dollars to distribute this report.
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