Supercom, Ltd. (NASDAQ:SPCB)

We no longer hold a position in SPCB at this time. On July 13, 2015 we exited our SPCB position and removed SPCB from the GeoBargain on the radar list. Shares at their peak during its tenure as a GeoBargain on the Radar returned 197%.  We stated the company was facing tough quarterly comparisons and we were unimpressed by  management's failure to speak with us after it completed a stock offering out of the blue when it appeared that the company did not need to raise capital.  

Reported Q2 2015results:

• Sales of $7.75 million vs $7.06 million in the prior year and below analyst estimates of $9.86 million

• Non-GAAP EPS of $0.16 vs $0.20 in prior year and below analyst estimates of $0.28

The company offered the following outlook:

“With a growing base of recurring revenues and increasing demand for our solutions, I believe we will meet the guidance previously issued, adjusted to the increased new share count as a result of the successful public offering we completed in June."

We will be on the conference call later this morning in order to gain more clarity on these comments.   The company’s previously issued 2015 guidance was for revenue growth for the full year ended December 31, 2015 to exceed 40% or $41.6 million on a year-over-year basis and non-GAAP EPS in 2015 to exceed $1.20 per share.  

Based on management's comments, the company is indicating a very strong second half of the year given that at the 6 months period ended in December,  the company is at $15.4 million in revenues and $0.38 in non-GAAP EPS.   Analyst estimates for Q3 and Q4 of 2015 are for $13.2 million and $12.3 in sales and for $0.34 and $0.28 in EPS, respectively.    We will participate in the earnings conference call slated to start at to gain clarification on management’s guidance. 

HERZLIYA, Israel, July 6, 2015 /PRNewswire/ --

SuperCom (NASDAQ: SPCB), a Global provider of secure solutions for e-Government, Public Safety, HealthCare, and Finance sectors announced today that its M2M division has signed a contract with a new European government to deploy a new Electronic Monitoring solution that aims to establish a more comprehensive and transparent Electronic Surveillance platform to effectively track and monitor hundreds of enrollees in the country's new Probation Program.

SuperCom expects to deploy this system in the next two months and continue to operate it for the next five years.

SuperCom's PureSecurity Suite is a best-of-breed electronic monitoring and tracking platform which introduces a long list of innovative features including secure communication, advanced security, anti-tamper mechanisms, voice communication, unique touch screens, fingerprint biometrics and extended battery life.

"We are excited with this new contract, another vote of confidence in our solutions to enhance public safety measured by reducing crime while reducing government cost, propelling us forward in the rapidly growing global Electronic Monitoring for public safety market projected to be in excess of $6 billion by 2018," commented Mr. Arie Trabelsi, President and CEO of SuperCom. "Furthermore, we are happy bring on a new country and national government customer to SuperCom's growing customer base, which we are looking forward to working with closely over the next years as we offer our rapidly growing array of innovate government solutions."

HERZLIYA, Israel & NEW YORK, June 18, 2015 /PRNewswire/ --

SuperCom Ltd. (NASDAQ: SPCB) ("SuperCom" or "the Company"), a provider of secure solutions for e-Government, Public Safety, HealthCare, and Finance sectors, today announced the pricing of an underwritten public offering of 2,100,000 shares of its ordinary shares at a price to the public of $12.00 per share for total gross proceeds, before underwriting commissions and offering expenses, of $25,200,000. The offering is expected to close on or about June 23, 2015, subject to customary closing conditions. SuperCom has granted the underwriters a 30-day option to purchase up to 315,000 additional shares of ordinary shares to cover overallotments, if any.

Cowen and Company, LLC is acting as sole book-runner for the offering, and B. Riley & Co., LLC, Craig-Hallum Capital Group LLC and Feltl and Company, Inc. are acting as co-managers.

The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital. The Company may also use a portion of the net proceeds for the acquisition of, or investment in, technologies, solutions or businesses that complement its business, although the Company has no present commitments or agreements to enter into any acquisitions or investments.

HERZLIYA, Israel, June 10, 2015 /PRNewswire/ --

SuperCom (NASDAQ: SPCB), a leading provider of secure solutions for e-Government, Public Safety, HealthCare, and Finance sectors,  announced today that it has been selected to implement new contracts representing more than $7 million in size.

SuperCom will provide various core elements of its flexible electronic-ID solutions, with potential for additional follow-on orders in the future as is commonly realized with these types of solutions. SuperCom expects the majority of the revenue from the implementation of these contracts to be recognized within the next 2 quarters.

Arie Trabelsi, President and CEO of SuperCom, commented, "We believe that these new successes demonstrate SuperCom's leadership in the e-ID segment and underscore our capabilities. These types of contracts represent the continuation of a mutually productive long-term relationship with our customers, and as the needs of our customers evolve, we expect additional orders in the future. We continue to see growth in demand for e-ID and M2M solutions globally."

Summary of SPCB Conference Call

Yesterday, we stated we would listen to the SPCB Q1 2015 conference call for a possible information arbitrage opportunity, similar to the one that was presented on the Q4 2014 call, which quickly led to a 50%+  rise in shares.    Yesterday’s call did not present as much information as the Q4 call, but some positive takeaways included:

    Management has stated that optimism has increased.

    Management stated that they've been selected as the bidder of choice by multiple governments, and that more information is forthcoming.

We intend to look at various valuation scenarios for SPCB.

First Quarter 2015 Results

• Revenue increased by 45% to $7.7 million compared to $5.3 million
• Non-GAAP operating income increased by 77% to $3.1 million compared to $1.8 million
• Non-GAAP EPS increased by 77% to $0.23 compared to $0.13

"We executed well in the first quarter and maintained strong margins while growing the company according to our business plan," commented Arie Trabelsi, SuperCom's President and CEO. "In addition to generating strong year-over-year revenue and earnings growth, we continued to advance our long-term growth strategy, and made significant progress towards strengthening and expanding our solution offerings in our fast growing target markets."

"During the quarter, we have started to integrate our suite of secure payments solutions into existing e-ID contracts and continue to actively pursue large opportunities with organizations around the world," Mr. Trabelsi added.

"We are increasingly excited about our pipeline of opportunities, which continued to grow as we advanced a number of important tenders during the quarter. In the M2M(IoT) arena, more and more government agencies and organizations in the Americas, Europe, and Asia have selected and decided to adopt SuperCom's Electronic Monitoring solution, creating brand recognition and driving growth in our pipeline, " Mr. Trabelsi concluded.

2015 Outlook
The Q1 results are in-line with our 2015 guidance of revenue growth for the full year ended December 31, 2015 to exceed 40% or $41.6 million on a year-over-year basis. The Company anticipates non-GAAP EPS in 2015 to exceed $1.20 per share.

HERZLIYA, Israel and NEW YORK, January 21, 2015 /PRNewswire/ --

SuperCom (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for e-Government, Public Safety and Healthcare, announced today that it anticipates revenue growth for the full year ended December 31, 2015 to exceed 40% on a year-over-year basis and anticipates non-GAAP EPS for the 2015 to exceed $1.20 per share.

"SuperCom has won new contracts exceeding $60 million during 2014, and more than $25 million of this is expected to be booked during the next nine months, giving us a strong base to start 2015," commented Arie Trabelsi, SuperCom's President and CEO. "This new business demonstrates increasing demand for our e-ID, e-Passport and e-Gate solutions, and we are encouraged by the number, quality and size of opportunities we have in our sales pipeline. The progress made during 2014 bolsters our confidence as we head into 2015, and I have never been more optimistic about SuperCom's future. Macroeconomic conditions have not materially impacted the overall market and incremental growth, coupled with our growing base of multi-year contracts, sets the stage for a strong end to 2014 and an even more robust 2015."

"We are also realizing the strategic benefits of our acquisition of our e-ID competitor, in late 2013," added Mr. Trabelsi. "In addition to significant cost synergies and added scale, this acquisition is bolstering our ability to win business around the world. The investments we have made in our sales organization over the last 18 months are driving improved sales execution today. In addition, beyond the optimism we see in our e-ID segment, we are increasingly optimistic about the opportunities in our M2M (IoT) and mPay segments. By leveraging our existing expertise, our robust innovative solution in these two rapidly growing segments represent a significant upside opportunity for shareholders."

The Company expects to report its fourth quarter and full year 2014 results during the third week of March, 2015.

HERZLIYA, Israel and NEW YORK, January 6, 2015 /PRNewswire/ --

SuperCom (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for e-Government, Public Safety and Mobile Payments announced today its intent to acquire Prevision Ltd. (Prevision) as part of its strategy to offer complimentary security products and solutions to its growing customer base.

Prevision is an international provider of cutting edge Cyber Security services and solutions based on leading methodologies and best practices in Information Security and Cyber Doctrine. Prevision specializes in protecting strategic assets for governments, militaries and large enterprises in various domains including Critical Infrastructure, Finance and Telecom, with an extensive customer portfolio in Israel, South America, Europe and Asia.

The deal is expected to contain an upfront cash payment and a potential earn out payments over five years, with the total aggregate payment capped at $2.5 million. SuperCom expects to use its current working capital to finance the deal. The closing of the proposed acquisition is expected within 60 days pending successful due diligence and signing of definitive agreements

Arie Trabelsi, CEO of SuperCom commented, "With growing security needs for nations around the world, governments are increasingly looking for reliable partners to help them navigate this rapidly changing environment. Our breadth of experience providing National Security solutions has positioned us very well as a trusted partner for a wide spectrum of demand in government security. With the addition of Prevision's capabilities, we would be able to offer complimentary Cyber Security solutions as part of our broad security solution. Additionally, we would be able to leverage Prevision's expertise to enhance security on our other existing product platforms in the M2M and Mobile Payment spaces."

"While we are still going through the final due diligence process, as previously stated we focus on synergistic and accretive acquisitions for SuperCom and its shareholders.  Prevision is profitable and shares a similar margin profile to SuperCom, and its acquisition is expected to be very accretive," continued Mr. Trabelsi.   

"We are very excited to join the SuperCom family and leverage its global presence, product platform, and relationships to provide top-notch cyber security capabilities to governments and corporations around the world," commented Guy Karsenti, CEO and Founder of Prevision. "This juncture provides the opportunity to transform our extensive knowledge and experience into products and solutions that should be scalable to meet global demand, including the existing SuperCom customer base."

Third Quarter 2014 Results

• Reported Q3 2014 revenues of $9.1 vs $2.0 in the prior year, a 352% increase.
• Q3 2014 non-GAAP EPS of $0.30 vs $0.05 in the prior year

"We are very pleased to report three consecutive quarters of strong growth in our revenues and EBITDA. Keeping tight control over our cost structure while growing revenues has allowed us to not only increase our operating margins, but also invest more in R&D. This, along with growing market demand, an increasing number of ongoing contracts around the world and an expanding pipeline gives us confidence in implementing our business plan for 2015 and beyond," commented Mr. Arie Trabelsi, President and CEO of SuperCom.

Continued Mr. Trabelsi, "I am very proud of the performance of our growing R&D and sales teams, which are developing innovative next generation product lines and deploying them effectively into the growing e-Government, M2M, IOT, and payments markets. Our operations and support teams have also continued to perform exceptionally by increasing operational efficiencies while strengthening our relationships and improving customer satisfaction."

HERZLIYA, Israel and NEW YORK, October 13, 2014 /PRNewswire/ -- 

SuperCom (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for e-Government, Public Safety and HealthCare, announced today the implementation of a high-scale National Security e-Government contract for a country with a fast-growing economy. 

The contract consists of several modules connected to each other: 

1.       Biometric Visa: A decentralized array of biometric enrollment Visa systems in embassies around the world, which will significantly decrease the processing time to issue a Visa to only a few hours. This will create an impactful increase in the amount of foreign expertise and knowledge flowing into the country while identifying and eliminating security threats to the country, a double layered boost to the country's economy.

2.       Biometric e-Gate for Border control: An enhanced system at all the country's entry/exit points, Air, Sea and Land, increasing the national security at the immigration control while improving efficiency in both time and cost.

3.       Biometric e-Passport System: Biometric enrollment stations combined with a central issuance line of high security e-Passports in compliance with the highest international standard, ICAO.

4.       Biometric Resident Identification System: Biometric enrollment stations combined with a central issuance line of a high security Resident ID cards in compliance with the international standards of ICAO.

According to current analyst reports, the applicable market for border control e-Gates systems alone is projected to continue growing at a rate of 20% per year to over $750M by 2018, and the national e-ID global revenue is projected to reach $11B by 2016.

"With heightened global security needs and ongoing demand to maintain strong economic growth, nations around the world are looking for partners to help them tighten control while enabling high information flow to and from the global economy. This is not an easy endeavor, and we are always pleased to see another nation lay immense trust in us and our full turn-key solution, which we have successfully deployed in many other countries in the past," commented Mr. Arie Trabelsi, President and CEO of SuperCom.

"We remain very confident as we see growing demand for national security solutions for Biometric Visa, e-ID, e-Passport and e-Gate, and I am very proud of our team as it continues to effectively outperform our business plan," concluded Mr. Trabelsi. 

Second Quarter 2014 Financial Results:

• Quadrupled revenue to $7.1 million vs $1.9 million in prior year; ahead of analyst estimates of $6.5 million
• Non-GAAP EPS of $0.19 vs $0.06 in the prior year; ahead of analyst EPS estimates of $0.13

"We are very pleased with our second quarter results, showing strong revenue growth and increasing levels of profitability on a year over year, as well as on a sequential basis," commented Mr. Arie Trabelsi, President and CEO of SuperCom. "These results were built on growing recurring revenues from our ongoing contracts as well as the start of the implementation of the new contracts. We are outperforming our business plan both on a financial and operational standpoint."

Continued Mr. Trabelsi, "I am proud of the performance of our excellent team which has realized these outstanding achievements. We remain very optimistic as we unleash the potential inherent within our growing pipeline of bids and proposals, combined with the growing demand for our solutions in both the eID and M2M markets."

HERZLIYA, Israel, August 4, 2014 /PRNewswire/ --SuperCom Ltd. (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and Healthcare, today announced that it has been selected as the winning bidder for new contracts representing more than $22 million in size.

SuperCom will provide its various core and flexible electronic-ID solutions, with potential for additional follow-on orders in the future as is commonly realized with new customers. The majority of the revenue from the implementation of these contracts will be recognized within the next 9 months. 

Commented Arie Trabelsi, President and CEO of SuperCom, "We are very pleased to have been selected as the winning bidders for these new significant contracts, clearly demonstrating our abilities and success in monetizing our vast and growing pipeline. We believe that these type of contracts are the initial stage in our building of a long-term relationship with new customers and will potentially bring us additional orders in the future. We continue to see fantastic growth in demand for our e-ID and M2M solutions globally, and we believe our success so far in 2014 only marks the beginning of strong and exciting international growth."

SuperCom Ltd (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and HealthCare, announced today that it  intends to deploy a new solution for the fast growing 'Mobile Money' market. PureMoney[TM] is SuperCom's Mobile Money solution, which leverages its innovative and highly secure core Mobile -ID technology to provide mobile money and banking services to the unbanked. SuperCom is leveraging its existing portfolio of highly innovative technologies in order to quickly penetrate this fast growing space.

Today, it is estimated that 2.5 billion people in lower and middle-income countries are unbanked, however more than 1 billion of them have access to a mobile phone. SuperCom's strong relationships, deep understanding of customer needs and vast experience with government technology infrastructures in its target markets, puts it in a powerful position to access much of this unbanked population.

SuperCom will start offering its new solution to its existing customer base as well as to other customers in these new and fast growing markets. Furthermore, the Company intends to deploy this solution to some of its existing customers during the fourth quarter of 2014. 

The development and operation of SuperCom's Mobile Money are handled out of SuperCom Inc., which is the Company's US subsidiary, based in New York City.

Commented Ordan Trabelsi, President of SuperCom Inc, "The mobile money market is still in its infancy. Projections show that by 2017, $700 billion in mobile transactions will be executed by 450 million users, representing an average annual growth rate of about 35%. We believe that our Mobile ID and Mobile Money technology, built on the back of our many years of experience in the Mobile and Electronic ID realms, will be recognized as a superior solution and we aim to win a material market share by 2016.  For SuperCom, our early penetration and capture of even a small portion of this fast growing market not only represents a huge and long-term growth opportunity, but also greatly exemplifies how we are using technology innovation to provide new and immense value to our rapidly growing customer base."

HERZLIYA,Israel,July 16, 2014/PRNewswire/ --SuperCom Ltd (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and HealthCare, announced today that it has filed a universal shelf registration statement on Form F-3 with the US Securities and Exchange Commission (SEC). The registration statement is subject to review by the SEC.

When declared effective by the SEC, the shelf registration will allow the Company the flexibility, from time to time, to offer and sell up to $50 million of equity, debt or other types of securities described in the registration statement, or any combination of such securities. There are no specific plans to offer securities under the shelf registration at this time. The terms of any future offering would be determined at the time of the offering and would be subject to market conditions and approval by the Company's Board of Directors. Any offering of securities covered by the shelf registration statement will be made only by means of a prospectus supplement authorized and filed by the Company.

Commented Arie Trabelsi, CEO of SuperCom: "We have no immediate need to raise capital. However, once approved, this shelf prospectus provides us with an excellent vehicle to raise capital and fund an accretive acquisition should a potential acquisition opportunity materialize. In addition, it will provide us with the opportunity to increase working capital as necessary, to enable us to support the large contracts that exist in our pipeline of proposals and bids, if and when awarded to us."

HERZLIYA, Israel, July 9, 2014 /PRNewswire/ --

SuperCom Ltd (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and HealthCare, announced today that its M2M division will be launching and presenting its enhanced PureSecurity^[TM] - Electronic Monitoring Suite, which consists of the PureTag^[TM] , PureTrack^[TM],  PureCom^[TM], and PureMonitor^[TM] products, to the North American marketplace at the American Probation and Parole Association (APPA) show in New Orleans on August 3^rd.

The PureSecurity™ Suite is a best-of-breed electronic monitoring and tracking platform which introduces a long list of innovative features including: secure communication, advanced security and anti-tamper mechanisms, voice communication, unique touch screens, fingerprint biometrics and extremely long battery life. The PureSecurity™ Suite provides public safety monitoring programs with a complete end-to-end electronic monitoring solution which is reliable, flexible, and secure.

The Company will start offering the enhanced suite to customers in the US market beginning in August 2014, and later to Europe, South America and Africa beginning in September 2014.

CommentedOrdan Trabelsi, President of SuperCom North America, "The M2M and IOT (Internet of Things) markets are emerging very fast globally and our applicable market, just for the public safety sector, is projected to be in excess of $6 billion by 2018. SuperCom has invested many years in developing truly leading M2M products and together with our decades of experience in executing on large IT and security contracts, we believe that we are poised to quickly gain substantial market share, both in the US and globally."

First Quarter 2014 Results:

• Revenue of $5.3 million vs $2.0 million in prior year
• Non-GAAP net income of $0.13 vs $0.07

"We are off to a great start in 2014 based on our financial results of the first quarter, the first full quarter since the acquisition of the SmartID division," commented Arie Trabelsi, CEO of SuperCom. "We achieved strong profitability with an EBITDA margin of 33%, which starts to demonstrate the significant cost synergies of our recent acquisition."

As was previously announced, during the first quarter, SuperCom was awarded over $29 million dollars in new contracts, the majority of which will be recognized during the last three quarters of 2014.

Continued Mr. Trabelsi, "Our revenues in the quarter were primarily recurring revenue. This, in combination with our newly awarded contracts, underlies our expectations of strong revenue growth and high levels of profitability in the coming quarters. In addition, in the coming months we hope to unleash further revenue potential from our fast growing pipeline of bids and proposals."

Concluded Mr. Trabelsi, "We will continue to work hard to grow our company and execute on the substantial opportunities we see in our markets with the goal of maximizing value for all our shareholders."

HERZLIYA, Israel, April 23, 2014 /PRNewswire/ -- SuperCom Ltd. (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and Healthcare, today announced that it has been awarded 2 new contracts from an existing customer totaling $3.6 million. The Company expects to recognize the majority of the contracts' revenue during the second half of 2014.

"I am very pleased with the receipt of these new contracts as it demonstrates the inherent value within our customer base and our ability to build long-term relationships," commented Arie Trabelsi, CEO of SuperCom. "It also indicates a strong vote of confidence and a high level of satisfaction in our products and services by customers. We look forward to continuing our pursuit and realization of the strong potential in our proposals and bids within our deep pipeline."

HERZLIYA, Israel, March 27, 2014 /PRNewswire/ -- SuperCom Ltd. (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and Healthcare, today announced that it has been selected as the winning bidder for contracts amounting to over $25 million. The majority of the revenue from the realization of those contacts will be recognized in 2014.

Commented Arie Trabelsi, President and CEO of SuperCom, "We are very pleased that we are starting to realize the potential of our vast and growing pipeline. These type of contracts, as we have seen in the past, has the potential to lead to long-term relationships and additional orders in future."

Fourth Quarter 2013 Results

• Revenues for the fourth quarter were $2.9 million vs $3.2 in the prior year period

• GAAP EPS for the fourth quarter was $0.11 vs $0.06 in the prior year period.

"2013 has been an important year from both a business and strategic perspective," commented Arie Trabelsi, CEO of SuperCom. "In the fourth quarter, we invested substantial resources and funds to acquire and merge the operations of the SmartID division. We have worked hard to consolidate our operations in order to unlock the untapped potential and realize the true value of the combined business. In 2014, we have already received new orders and won new business which will positively contribute to our results."

Continued Mr. Trabelsi, "From a financial perspective, 2013 was also a good year. We ended the year raising money through a secondary offering which increased our working capital, strengthened our balance sheet and financed the acquisition. We continued to present strong business results across all parameters, at a time when management was also focused on completing a major acquisition and public offering, indicating the strength and stability of our operations."   

Concluded Mr. Trabelsi, "I look forward to an exciting year in 2014 as we continue to work hard increasing shareholder value by leveraging our outstanding team, along with our technologies and solutions geared to our fast growing applicable markets."

HERZLIYA, Israel, Feb. 10, 2014 /PRNewswire/ -- SuperCom Ltd. (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and HealthCare, today announced that it has received new orders, totaling in excess of $4 million. The Company expects to deliver and recognize the full value of the orders during the first half of 2014.

"I am very pleased with these new orders as it represents the realization and the potential in our proposals and bids pipe line," commented Arie Trabelsi, CEO of SuperCom. "It also underscores the outstanding cooperation and the smooth integration that the newly acquired SmartID division has undergone over the past months." 

"We are happy to see that our customers are highly satisfied with the outstanding products and systems that we provide them, demonstrated by their award of new orders to us," commented Ziv Koren, SuperCom VP Regional Business Development. "It also indicates a strong vote of confidence from our customers."

"Beyond these orders, we see growing demand for our solutions globally. With the excellent team and solutions we have in place, we are poised to unlock the significant potential within SuperCom," concluded Mr. Trabelsi.

Third Quarter 2013 Results

• Revenue was $2.02 million compared to $1.79 million last year
• EPS was $0.16 compared to $0.06 last year

The financial results are reported on a standalone basis and exclude the results of the SmartID division acquisition, and the public offering, which were both completed during the last week of 2013. The SmartID division's operation will significantly contribute to SuperCom's results starting from the first quarter of 2014.

"I am very pleased with the financial result of the third quarter of last year and our achievements were all the more impressive given that management and major company resources were occupied with the secondary offering, and the acquisition of a SmartID division which was twice our size," commented Arie Trabelsi, CEO of SuperCom. "We continued to present excellent performance across all parameters, indicating the strength and depth of our operations. We see these results as an indication that our core business remains on the right track and continues its positive momentum of growth and strong profitability. I note that the results of the third quarter are historical and do not include those of our new SmartID division, which will have a major and positive impact to our results in 2014 in terms of both revenue and profit."

Continued Mr. Trabelsi, "Towards the end of 2013, we raised $13.8 million dollars in a secondary offering in order to pay for the SmartID acquisition and increase working capital, and I would like to extend a warm welcome to all our new investors. We look forward to working hard to increasing shareholder value and we intend to continue unlocking the significant untapped potential that SuperCom has, together with its new SmartID division."

Quotes from a Seeking Alpha Article by Lazarus Investment Partners

Based on the interview it sounds like SuperCom only needs to win 10% to 15% of the contracts they are bidding on to keep busy for the next 7 years. Arie, SuperCom's CEO, commented, "I do believe that, if we can make the most of having both companies combined together, that a win rate of over 10% is very, very achievable."

"In the EID market we talk about contracts that, in many cases, can be 3-times larger in size than the combined revenue of SuperCom and OTI. So investors may be surprised to see that -- maybe -- we'll announce a contract that will double our revenue in the next three years, just from one contract."