SAN DIEGO, CA – July 18, 2018 – ImageWare Systems, Inc. (OTCQB: IWSY), a leader in mobile and cloud-based multi-modal biometric identity management solutions provided an interim sales update.
Three ImageWare partners have made the following sales:
- Our largest partner – To a Canadian financial institution which will utilize our multi-modal biometrics initially for its employees.
- CDW – To a Philadelphia-based credit union and a New York-based financial services company, both of which will initially utilize multi-modal biometric security for their respective employees.
- For these partner sales ImageWare generates revenue on a per user/per month basis.
Four Points Technology LLC – received a multi-year $3.6 million award from the Veteran’s Administration (VA) for biometric licensing and support .
ImageWare had direct sales totaling approximately $280,000 to existing US law enforcement agency customers for new projects.
Jim Miller, Chairman and CEO of ImageWare said that, “Our vendor-neutral, open-architected and patented ImageWare Biometric Engine platform provides government agencies and commercial enterprises with extremely flexible capabilities to meet any new business requirements.
“The two sales to existing customers is a validation of the value proposition of our biometric products. These three new customers, brought to us through partners, are just the tip of the iceberg of business that we see entering the final stages of the sales cycle,” concluded Miller.
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. Biometric technology uses unique physical characteristics to authenticate a person’s identity. 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, any individual use or combination of 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, YouTube and Facebook.
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, 2017 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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