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March 14, 2006 Stock Pick: Sequiam Corporation (SQUM)

Stock Price: $0.33

Sequiam Corporation, through its subsidiary provides biometric technology and services. Sequiam has created a unique hardware and software solution to analyze both fingerprint and human electronic responses.

The company's biometric solution is top of the industry with Black & Decker and Analog Devices both on board with SQUM.

Sequiam was featured at the Consumer Electronics Show in Las Vegas through its partner Analog Devices. Analog Devices was showing products where Sequiam's chips were used. Displayed was a new Biometric lock from Black and Decker who controls 71% of the lock market through its brands Baldwin, Kwikset, and Weiser. The lock will be sold under the Powerbolt lock line through the Kwikset division. The old line is being discontinued by some retailers and replaced by the new Biometric lock called Biolock. The Biolock will have have two functions, one being key entry and the other Biometric.

Sequiam has signed a co-operative development & supply agreement with Kwikset Corporation of Black & Decker (check the SEC filing from January 20 under Sequiam for details of agreement). It is our understanding that Sequiam will receive $16 - $22 in royalty payments for each Biolock unit sold. Black & Decker will be responsible for all manufacturing of the locks which means Sequiam margins could be between 70-80%, making it a highly profitable product.

Last fall the stock went from 10 cents to 76 cents from institutional buying in anticipation of a launch from Black and Decker. SQUM is now trading at a market cap of roughly 20 million dollars. A roll out should be imminent.

Sequiam is not a one trick pony. It has announced an OEM agreement with Fujitsu. They are also in the final stages of development of the BioVault Biometric Box. This is a product that was requested by the National Rifle Association for its members to be able to lock their hand guns by using a Biometric mechanism. This product may go into mass production during the 3rd week of March. We hear that Sharper Image is taking a very close look at the BioVault. Other products are also in the works.

SQUM is a hidden jewel that hasn't truly been exposed yet. There has not been a formal press release on the Black & Decker product. It is the policy of Black and Decker to not release any news on new products until being mass manufactured and produced. Sequiam by SEC rules needed to put out a filing which most people may have overlooked.

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