Below is a screenshot of something I posted in December 2021. It was a period where many banks were being handed huge fines for money laundering and compliance breaches. The company had contracts with big name clients and insinuated that they were very close to signing a major bank. They also had a large interest in the growing Payble business partnering with CBA's X15 ventures.
They also had this patent which is now subject of the infringement case against JP MORGAN.
While it will be very difficult to get a win against the power and often questionable practices that JP MORGAN has, it is not over yet. JP MORGAN argues that our patent demonstrates fundamental economic practice so they are not violating anything.
Reality is Identitii were granted the patent and the fact that JP MORGAN filed a similar patent is contradictory to their argument that it's fundamental economic practice.
The fact that their patent was rejected because of the existing Identitii patent should be important. Unfortunately, if the original founders were still around, I think we might have a chance but the current management that has seen to the destruction of shareholder wealth over many years are clueless.
No update from the infringement case but I believe we get an update on Tuesday regarding the most recent of our many cap raises. I would be extremely surprised if there is much support other than the Beavis funds. My investment here is heading to the worthless range but I'm forever hoping for a pulse or a change in management that could salvage something from this wreck. I'm still amazed at how much our CEO has been taking home for many years whilst our market cap has reduced to $3m even after so many cap raises and our dilution of Payble.
ID8 Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
