A global provider of financial information services chooses Precise Biometrics as their new fingerprint algorithm vendor following a thorough test of the market. The customer is aiming to increase the performance of existing and forthcoming fingerprint enabled devices by using Precise Biometrics' technology.
Precise Biometrics ,Interim report for the period January – March 2013
The group's net sales for the first quarter was US$ 2.56 million (SEK 16.8 million)
The group's operating result for the quarter was $ -0.15 million .
The group's net result for the quarter was -1.3.
Earnings per share for the first quarter was $ -0.00.
Available cash at the end of the quarter amounted to $ 1.17 million.
Important event during the quarter
A global provider of financial information services chooses Precise Biometrics as their new fingerprint algorithm vendor following a thorough test of the market. The customer is aiming to increase the performance of existing and forthcoming fingerprint enabled devices by using Precise Biometrics' technology.
One of the largest mobile Operators in the US has started selling Precise Biometrics' Tactivo The Operator has placed an initial order of 5,000 Tactivo units. The order has been delivered during March.
Precise Biometrics announced that the Company will shortly release Tactivo for Android. Development of Tactivo for Android and further mobile platforms is already in progress and will be launched end of Q2, with prototypes available for selected partners in May.
The credit facility that was obtained during the first quarter 2012 was re-paid in January 2013. The company utilized, before the repayment, $3.05 million of the credit facility of $4.57 million. Within the framework of the credit facility agreement, and until the end of May 2013, the company can obtain order financing.
The Board of Directors of Precise Biometrics has proposed the Annual General Meeting on April 23, 2013 to decide to undertake a rights issue with preferential rights for Precise Biometrics' shareholders of approximately $8.39 million. The rights issue is implemented to finance increased working capital due to new orders, continued development of Tactivo by increasing resources for production, product development and sales and marketing efforts worldwide. The rights issue is guaranteed up to a level of 70% of the rights issue, approximately $ 5.87 million.