Announces Additional License Sales to Existing Federal Government Customer in Addition to Four New Partner Sales
San Diego (April 10, 2018) – ImageWare Systems, Inc. (OTCQB: IWSY), a leader in mobile and cloud-based, multi-modal biometric identity management solutions, provides its first sales update for 2018.
Jim Miller, Chairman and CEO of ImageWare, said that “We have sold additional licenses to an existing customer who is expanding the use of the ImageWare Biometric Engine and three of our partners have made initial sales of GoVerifyID (GVID). We continue to expect that many initial sales will often be made for enterprise/employee users and then adding users as services are rolled out to their customers.
“Working with our partners, combined with anticipated sales from our own sales efforts, we now expect additional sales on a regular basis and look forward to the next sales update in May,” concluded Miller.
Federal Government Customer
- An existing Federal government customer, who has been using the patented ImageWare Biometric Engine for biometric authentication for more than five years, has made a $730,000 purchase of additional licenses.
- An ImageWare partner has made a sale to a privately held global corporation which has placed an initial order for enterprise GVID to serve the first 1,000 employees with plans to roll out GVID to its remaining 55,000 employees throughout the year.
- Another ImageWare partner has made a sale of its new cloud-based product with GVID built-in to two federal government agencies for use by select employees.
- Fujitsu has purchased licenses for 1,000 of its employees.
- For all four of these partner sales, ImageWare generates revenue on a per user/per month basis.
ImageWare’s GoVerifyID technology provides turnkey solutions to secure enterprise systems from security infrastructure providers such as Fujitsu, Microsoft, IBM, CA, HPE and other vendors. GVID is flexible to support nearly any use case and business process for your employees, partners, and customers. GVID enables organizations and users to select the biometrics of their choice including face, voice, fingerprint, palm image, and palm vein to provide increased security and convenience. It deploys quickly either on-premises, and with multiple public, private and hybrid cloud hosting options including Fujitsu Cloud Service K5®.,and AWS (Amazon Web Services).
About ImageWare Systems, Inc.
ImageWare Systems, Inc. is a leading developer of mobile and cloud-based identity management solutions, providing patented biometric authentication solutions for the enterprise. The company delivers next-generation biometrics as an interactive and scalable cloud-based solution. ImageWare brings together cloud and mobile technology to offer multi-factor authentication for smartphone users, for the enterprise, and across industries. ImageWare’s products support multi-modal biometric authentication including, but not limited to, face, voice, fingerprint, iris, palm, and more. All the biometrics can be combined with or used as replacements for authentication and access control tools, including tokens, digital certificates, passwords, and PINS, to provide the ultimate level of assurance, accountability, and ease of use for corporate networks, web applications, mobile devices, and PC desktop environments. ImageWare is headquartered in San Diego, California, with offices in Portland, Oregon, Ottawa, Ontario, and Mexico City, Mexico. To learn more about ImageWare, visit iwsinc.com; follow us on Twitter, LinkedIn, and YouTube.
Forward Looking Statements
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if,” “should” and “will” and similar expressions as they relate to ImageWare Systems, Inc. are intended to identify such forward-looking statements. ImageWare may from time to time update publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in ImageWare’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
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