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Imageware (OTCQB: IWSY) has formed a global partnership with TECH5, enhancing its biometric identification solutions. The collaboration will integrate TECH5's biometric algorithms into Imageware’s products, significantly enhancing their capabilities in the government and commercial sectors. The partnership also involves providing the Imageware Identity Platform to SISCO, a leader in visitor management systems, enabling facial recognition technology for the cruise line industry. This strategic move aims to streamline processes and improve safety in marine and visitor management.
Imageware® (OTCQB: IWSY) will host a conference call on September 23, 2021, at 4:30 PM ET to discuss its financial results for Q2 2021, ending June 30, 2021. A press release will precede the call. The call will include a presentation by management followed by a Q&A session. To participate, dial in 10 minutes early. U.S. and international replay numbers will be available after the call. Imageware specializes in biometric identification and authentication, providing cloud-based solutions to secure communities, data, and assets.
Imageware (OTCQB: IWSY) and Four Points Technology have secured a three-year contract worth $2.7 million from the Department of Veteran Affairs (VA) to support the Personal Identification Verification (PIV) card program. This contract encompasses software and support services essential for delivering biometrically-enabled credentials. CEO Kristin Taylor noted the significance of this partnership, affirming Imageware's proven reliability in biometric identification within federal government implementations. The contract will enhance security for VA personnel and facilities over its base year and two optional years.
Imageware (OTCQB: IWSY) announced the retention of Imperial Capital for a strategic review aimed at maximizing shareholder value. This move follows a transformation process by the company to enhance its biometric identification products and strengthen its market position. The Chair and CEO, Kristin Taylor, highlighted increased interest in Imageware's services, including biometrics for government use and a blockchain identity management platform. The board sees significant growth opportunities but cautions that the review may not lead to any specific transactions.
Imageware (OTCQB: IWSY) announced that its Imageware Authenticate solution has earned FirstNet Verified status, making it accessible via the FirstNet App Catalog. FirstNet is a nationwide communications platform for first responders. The Imageware Authenticate software allows users to access data using biometric features like voice and face, enhancing security and efficiency. This solution is particularly beneficial for first responders, facilitating quick access during emergencies. The partnership potentially expands access to 2.2 million FirstNet subscribers.
ImageWare Systems, Inc. (OTCQB: IWSY) reported a 8% revenue decline to $733,000 for Q1 2021, down from $796,000 in Q1 2020, primarily due to decreased product sales. Gross profit fell by 9% to $614,000, reflecting lower revenues. Operating expenses decreased by 17% to $3.3 million, leading to a reduced loss from operations of $2.6 million. The net loss available to common shareholders improved to $4.1 million, or $(0.02) per share, compared to $(4.5) million or $(0.04) per share in the prior year. The company ended the quarter with $5.1 million in cash.
ImageWare Systems, Inc. (OTCQB: IWSY) will conduct a conference call on June 2, 2021, at 4:30 p.m. ET to discuss its financial results for Q1 2021, ending March 31, 2021. The call will feature management presentations followed by a Q&A session. Participants can dial in 10 minutes before the start at 855-327-6837 (U.S.) or 631-891-4304 (international). A replay will be accessible until June 9, 2021. Founded in 1987, ImageWare specializes in biometric identification solutions.
ImageWare Systems (OTCQB: IWSY) announced the appointment of Gateway Investor Relations to enhance its investor relations initiatives. This partnership aims to refine corporate messaging, introduce the company to institutional investors, and facilitate participation in key financial conferences. With an increasing demand for secure access solutions in the growing work-from-anywhere economy, ImageWare's cloud-based software solutions target diverse sectors including law enforcement, finance, and education. The company also plans to consider a Nasdaq uplisting in the near future.
ImageWare Systems, Inc. (OTCQB: IWSY) announced the formation of a new strategic advisory board with the appointment of three industry leaders: Neil Boehm, Bill Casey, and Ravi Srinivasan, effective May 3, 2021. The board aims to provide guidance to enhance revenue and strategic direction, focusing on key growth areas. Boehm brings automotive technology expertise, Casey has significant law enforcement experience, and Srinivasan specializes in cybersecurity. The advisory board will meet at least four times annually to leverage expert insights for driving business development initiatives.
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