MaxSec (ASX:MSP) has banked revenues of $892,000 for the...

MaxSec (ASX:MSP) has banked revenues of $892,000 for the quarter, and had slim negative operating cashflows of $106,000.

The following quarterly will likely be cash flow positive due to the deferral of invoices; MaxSec booked a net profit in the 2013 financial year of $187,000, from revenue of around $3.1 million.

MaxSec is involved in secure access solutions including biometric security.

Its biometric security product uses state of the art fingerprint scanning combined with military grade encryption. This incorporates the 13.56 MHz radio frequency designed by Philips Electronics and manufactured by NXP Semiconductors.

MaxSec's increased share valuation could due to increased investor awareness of a recent share placement to Cadence (90) Investments, which was priced at $0.025 for 20 million shares - a substantial premium to the current price of $0.014.

The company is capitalised at $2.7 million, holds around $1 million in cash and is debt free.