Wednesday, June 29, 2022

A Closer Look at GeneSYS ID Inc (OTCMKTS:GNID)

GeneSYS ID Inc (OTCMKTS:GNID) is a penny stock that has started to garner attention as the stock bounces up the chart. Volume really started to mount in late September, when there was some conjecture of a paid promotional campaign. We could not find any clear evidence that this was the case. Nothing has been released by the Company except for a notice that the Chief Strategy Officer has resigned, and was then hired by the Board as the Company’s general counsel.

The chart shows 750% during the past month in terms of shareholder gains in the company, but this action is running counter to the larger trend in the name. The situation may be worth watching. GNID is a stock whose past is littered with sudden rips. What’s more, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed just under 200% over what the stock has registered over the longer term. It pays to take note of this fact with a float in play that’s very limited — of 4.1M shares. Traders should not overlook this combination, as ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.

GeneSYS ID Inc (OTCMKTS:GNID) promulgates itself as a company that GeneSYS ID, Inc. designs, develops, and manufactures biometric products and systems that create secure environments at home and work improving security and healthcare.

It develops fingerprint activated and control products designed to prevent unauthorized access for security markets; medical storage, delivery, and adherence devices to securely store, track, and administer controlled medications throughout the entire healthcare continuum; and padlocks, USB storage, thermostats, and transport devices that work by touching them to activate and control them.

The company also provides biometric home and business security and storage products that utilize universal and Wi-Fi communications for real-time monitoring. In addition, it develops door locks, garage door openers, mailboxes, and cabinet switches, which offer wireless communications and fit into home security systems through Wi-Fi, Bluetooth, and IR technologies.

Further, GeneSYS ID, Inc. develops secure drug delivery devices to secure and track the use of controlled substances, including biometrically controlled infusion pump switches and needle-less injection systems; and clinical trials compliance and adherence systems for pharmaceutical companies utilizing biometric authentication and tracking of medication regimens, as well as original equipment.

The company was formerly known as RX Safes Inc. and changed its name to GeneSYS ID, Inc. in July 2016. GeneSYS ID, Inc. was founded in 2010 and is based in Henderson, Nevada.

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According to a new market research report “Biometric System Market by Application (Government, Military & Defense, Healthcare, Banking & Finance, Consumer Electronics, Travel & Immigration, and Security), Technology (Face Recognition, Fingerprint Recognition, Iris Recognition, Palm Recognition, Voice Recognition, Signature Recognition, Vein Recognition, and Others), Function (Contact and Non-Contact) & Geography (North America, Europe, APAC, Row) – Global Forecast to 2020”, the next generation biometrics market is expected to reach $24.45 bln by the year 2020, growing at a compound annual growth rate (CAGR) of 17.9% between 2015 and 2020, making it one of the most robust growth market segments in the world economy over that period.

According to Markets and Markets, “The increasing use of a biometric technology in e-commerce and the cloud computing platform for a biometric technology provide ample opportunities for the biometrics system market. On the other hand,government initiatives to adopt biometrics in various fields, increased demand for biometric technologies in smartphones, and the introduction of e-passports, implementation of biometric technology in election administration and criminal identification are propelling the growth of the biometrics system market.The overall biometrics system market is segmented into various segments, namely, technology, application, function, and geography. The biometrics system market for single-factor authentication is expected to grow at an estimated CAGR of 17.5% between 2015 and 2020.”

Earning a current market cap value of $1.4M, GNID has an extremely small store of cash on the books, with total assets of $150K, which is balanced by an appreciable load ($424.54k) of total accumulated debt. The lack of cash is a concern here, particularly with what appears to be some convertible debt pressure likely to impact the outcome distribution. But this is also an extremely exciting name in the penny stock space at present, with its fate tied to the rocket ship that is the biometric technology segment. We will dig some more into this name as events unfold, so be sure to check back with us. For continuing coverage on $GNID and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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