News: MaxSec Group stock on the rise

MaxSec Group (ASX:MSP) shares have lifted 40% so far today to its current trading price of $0.014.
   
MSP is capitalised at $1.9 million, holds over $1 million in cash, and is debt free. The company booked a net profit in the 2013 financial year of $187,000, from revenue of around $3.1 million.

Importantly, this profit could have been higher if not for the deferral of some invoices into the first quarter of this year.

These sales will be reflected in the quarterly report due at the end of this month.

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.