NEW YORK, June 15, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) – SmartMetric the developer and manufacturer of advanced biometric credit/debit and security cards. The SmartMetric biometric credit/debit and security card incorporates a miniature fingerprint scanner inside the card that is used to identify, validate the card user and then activate the card based on a match of the card holder's fingerprint biometrics.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...909310231e
The SmartMetric biometric security card combines cyber security for network logon along with building and doorway access and security desk identification in a single credit card sized and thickness, card. This multifunction cyber, access and identity card is a revolutionary new product for the security world built on the in-the-card miniature biometric validation and card activation fingerprint scanning technology developed by SmartMetric.
Based on the number of non-biometric chip cards already issued by banks worldwide, the company provides the following.
Size of existing chip card market: Six (6) billion cards issued worldwide.
| Projected Future Biometric Chip Card Sales: | ||||
| % | Cards Sold | Revenue from sales based on a sales price of $50.00 per card | ||
| 0.25% | 15,000,000 | $750,000,000 | ||
| 0.5% | 30,000,000 | $1,500,000,000 | ||
| 1% | 60,000,000 | $3,000,000,000 | ||
If the company sells a minimum of 5 million cards over 3 years, then it will generate $150 million in card sales revenue.
SmartMetric contracted an independent market research company. Results of the research show that eighty percent (80%) of existing credit card users surveyed said they are concerned about credit card and identity fraud. The same research found that over sixty percent (60%) of the surveyed credit card users would pay $69.95 for a biometric secured credit card from their bank.
The above projected sales earnings are forward looking statements and should not be relied upon for any reason. The stated earnings prospects are estimates only and are not based on other facts other than the size of the existing issued number of already issued chip cards issued by banks. Based on industry released figures in excess of 6 Billion chip cards have been issued by Banks worldwide. The biometric in-card technology works with the chips used in credit and debit card chip cards. The company does not believe that all existing chip credit cards will convert across to the biometric chip card. The company is not making a statement one way or another, of what it will or will not achieve in future sales earnings.
“Touch the card's surface and your card knows it is you and then is able to be used to access secure networks as well as giving you access to your secure office floor. Using the same technology inside a chip credit or debit card, the card becomes a biometric secured card providing far more security than standard credit and debit cards that rely on PIN’s or signatures,” said today SmartMetric’s President & CEO, Chaya Hendrick.
Access management market is estimated to grow from USD 8.09 billion in 2016 to USD 14.82 billion by 2021, at a CAGR of 12.9% between 2016 and 2021 according to a recent research report by KBV Research.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card . To view the company website: www.smartmetric.com
* publication titled Identity & Access Management Market – Global Forecast by Marqual IT Solutions Pvt. Ltd (KBV Research) November 2016 KBV Research is a name owned by IT Solutions Pvt. Ltd.
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also 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. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
Contact Information
USA DISTRIBUTOR PROTEC Secure Card, LLC 80 Corbett Way Eatontown, NJ 07724, USA +1-732-542-0700 Sales: Tracey Breckenridge traceyb@protecsecurecard.com www.protecsecurecard.com
SOUTH AMERICA
HOGIER GARTNER & CIA. S.A. Alvaro Gartner Valencia Gerente Comercial & Financiero Carrera 65, No. 80-16 Bogota D.C. 11121, Colombia Tel: +57. (1) 4378484 alvaro.gartner@hogier.com
GRUPO DATCO San Martin 1004 Buenos Aires, Argentina Contact Adrian Carnevante – Director +54 (9)11.4103.1300
SMARTMETRIC Inc. SmartMetric, Inc. Chaya Hendrick President & CEO 3960 Howard Hughes Parkway, Suite 500 Las Vegas, Nevada. 89169 USA +1.702.990.3687 ceo@smartmetric.com www.smartmetric.com
