FB pixel

Trust Stamp: quarterlies, annuals, SEC actions

Trust Stamp negotiating to raise funds to continue operating
Trust Stamp: quarterlies, annuals, SEC actions
 

Nov 28, 2024 – There is concern within Trust Stamp that the company will not be able to continue its operations for long without an influx of cash.

Trust Stamp reports a net loss in its first three fiscal quarters of 2024 of $4.59 million, on revenues of $0.5 million in the past quarter and $1.6 million over the three previous quarters. Its subsidiary in Malta has not signed any revenue-generating contracts, four years after inception.

The company is already working to raise funds, and notes in an SEC filing that it has done so successfully in the past. Talks have not reached a stage yet where anything is guaranteed, however.

As of September 30, 2024, the company had accumulated a deficit of $55.45 million, with a working capital of negative $1.45 million.

Trust Stamp continued to add to its intellectual property portfolio during the first three quarters of 2024, with 6 patents issued related to biometrics or cryptography.

Trust Stamp added to AWS marketplace

Aug 28, 2024 – Trust Stamp has launched its Identity Hub software on the AWS marketplace. This move aims to enhance the accessibility of Trust Stamp’s identity verification system to the 310,000 global users within the AWS customer base.

Leveraging IP portfolio to expand implementation scope

July 29, 2024 – Trust Stamp has revealed new deals with clients in the automotive industry and fintech for digital identity verification and tokenization, respectively, as a growing portfolio of intellectual property supports an expansion of the company’s offerings and target markets.

The NASDAQ-listed company announced it will supply its digital identity fraud detection to Botdoc, a platform that provides digital transfers for auto dealerships across the United States. Read more

Turning attention to deepfake detection

June 25, 2024 – Trust Stamp has announced a provisional patent for an AI tool to counter deepfake injection attacks. A press release from the firm says provisional patent #63/662,575, filed with the US Patent and Trademark Office, covers a new way to detect injection attacks in biometric authentication processes, including the injection of deepfake images and videos into data streams.

Identity Hub launched on NayaOne Tech marketplace

June 21, 2024 – Trust Stamp will launch its AI-powered Identity Hub software platform on the NayaOne Tech marketplace. This platform will provide shared customers with biometric authentication, identity verification, KYC, synthetic identity fraud detection, and enhanced data privacy and protection. Read more

Age estimation patent filing

May 30, 2024 – Trust Stamp has filed for patent protection of its method for improving the performance of biometric age estimation algorithms with AI.

Addressing voice vulnerability to deepfakes

May 24, 2024 – Trust Stamp has launched a program that aims to help financial institutions fast-track their deepfake detection capabilities with multi-factor biometric authentication. This report notes Trust Stamp’s biometric face authentication product as a “as an alternative for, or supplement to, voice-based systems” that are vulnerable to deep fake voice attacks.

Weighs in on Texas AG age verification crackdown

April 9, 2024 – Trust Stamp calls the appeals court decision “a major affirmation of the urgent need and market potential for AI-based age estimation services.”

Joins booming global market for biometric age estimation

March 18, 2024 – Trust Stamp has entered Newthe market for AI-based age estimation software, which is booming globally as regulators catch up with distributors, retailers and other businesses offering age-restricted products or services to customers, with minimal safeguards in place. Read more

Launches identity authentication service for high-risk transactions

March 10, 2024 – Trust Stamp has launched an AI-powered transaction authorization service for high-risk online transactions and announced the issuance notification for a patent covering its biometric hashing system. Read more

Listed as fraud mitigation provider for Federal Reserve

Feb 28, 2024 – Trust Stamp announced it has been listed by the Federal Reserve as a synthetic identity fraud mitigation provider. This follows after the company partook in a call for participation in September 2022.

Notice of allowance for new encryption patent application

Jan 22, 2024 – Trust Stamp has secured a notice of allowance from the U.S. Patent and Trademark Office for utility patent application 17/401,504, covering “Systems and Methods for Liveness-Verified, Biometric Based Encryption.” Read more

Trust Stamp alleges possible illegal short selling

Aug 25, 2023 – Executives with biometric ID firm Trust Stamp suspect its shares are being depressed in value by naked short selling.

In naked short selling, or naked shorting, the shares of a company are sold without first borrowing the shares or at least confirming that the share exist. The practice, which drives down the price of a company’s stock, is largely illegal.

It’s largely illegal because federal lawmakers fashioned equity trading laws after the 2008 financial crisis that left open some loopholes.

Short selling itself is legal but infuriating to management and some investors. It is when an investor borrows a security and sells it on a stock market, fully expecting to buy it back for later at a discount.

Trust Stamp alleges that a large percentage of its trading volume has come in the form of short selling.

The company is working with the Securities and Exchange Commission, Department of Justice, Nasdaq and the Financial Industry Regulatory Authority to stop the practice and punish those involved.

More financial and industry news about Trust Stamp here.

Related Posts

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Sri Lanka’s biometric hardware market to grow with SL-UDI

Sri Lanka’s biometric hardware market is poised for growth with the implementation of Sri Lanka Unique Digital Identity (SL-UDI) by…

 

DHS’s compliance with AI privacy, civil liberties requirements lacking, IG says

The Department of Homeland Security (DHS) has made strides in developing policies and frameworks to govern its AI use, including…

 

Age assurance in shops reduces lineups, eases staff burdens and improves security

Age assurance technologies are increasingly being deployed for point-of-sale use cases, and proving effective at curtailing the sale of restricted…

 

Amazon firm: fired worker deserved it. Less so on its cop FR ban

The wrongful-firing lawsuit filed against Amazon Web Services in the UK has gained a new life. An October dismissal of…

 

Only 0.1% of people can tell a deepfake, says iProov

Only a tiny fraction of people – 0.1 percent – can accurately distinguish between real and fake content such as…

 

Ukraine tests compatibility with EUDI Wallet

Ukraine has successfully tested its compatibility with the European Union Digital Identity (EUDI) Wallet, allowing its citizens to use digital…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events