BRS Labs to shop for a banker in January, expects to sell to larger company in six to nine months, chairman says
BRS Labs, a private Houston, Texas-based company that specializes in using artificial intelligence for video surveillance, plans to look for a banker in January, said Chairman and CEO Ray Davis.
The company is not ready to hire a banker today, as it is in the midst of proving its technology’s commercial viability. Still, BRS Labs is progressing “very quickly” and expects to sell to a larger entity in six to nine months, he said.
BRS Labs has contracts in the pipeline worth USD 100m, Davis said. However, the company expects to be valued based on its intellectual property and on the potential uses of its technology, rather than on its revenue. BRS Labs expects an exit north of a billion dollars, Davis said.
An industry analyst said, and an industry banker agreed, that New York-based L-3 Communications is one company that could take a look at BRS Labs. The reason, according to the analyst, is that L-3 is always looking at companies that can add to its portfolio of security technology.
Among L-3’s products are surveillance and reconnaissance systems. The company’s customers include the Department of Defense.
The industry banker said that another company that could find the technology of BRS Labs fitting, is NYSE-listed and Melbourne, Florida-based Harris Corporation. Harris too, has a focus on the government sector, including the Department of Defense and NASA, and is also known for helping to provide a secure White House/Kremlin link during the early days of the Cold War, said the banker. Harris has a market capitalization of more than USD 5bn.
The banker described a sales price tag of USD 1bn or more seemingly "a best case scenario," but said he could not rule it out either. He said that at a lesser price range, BRS could be a potential fit with a company such as Fairfax, Virginia-based and NASDAQ-listed ManTech International. With a market capitalization of nearly USD 1.9bn, ManTech provides technology and solutions for national security programs for the intelligence community and the Department of Defense.
Davis founded BRS Labs in November 2005 - this is his eighth company. The company has received funding of USD 23m. The company’s business plan is to build a product, prove its viability, and then sell to a larger company, he said.
Behavioral Recognition Systems (BRS) Labs is a software company that developed an adaptive learning video surveillance algorithm called AISight. The patented software analyzes video feed and makes observations about normal behavior based on the activity in that environment and then flags events that are out of the ordinary.
BRS Labs’ technology is used for surveillance of subways, military targets, borders and embassies. The technology has fewer false positives and requires less human intervention than standard surveillance programs, Davis said.
BRS has more than 35 engineers working in the area of artificial intelligence.
The company is not ready to hire a banker today, as it is in the midst of proving its technology’s commercial viability. Still, BRS Labs is progressing “very quickly” and expects to sell to a larger entity in six to nine months, he said.
BRS Labs has contracts in the pipeline worth USD 100m, Davis said. However, the company expects to be valued based on its intellectual property and on the potential uses of its technology, rather than on its revenue. BRS Labs expects an exit north of a billion dollars, Davis said.
An industry analyst said, and an industry banker agreed, that New York-based L-3 Communications is one company that could take a look at BRS Labs. The reason, according to the analyst, is that L-3 is always looking at companies that can add to its portfolio of security technology.
Among L-3’s products are surveillance and reconnaissance systems. The company’s customers include the Department of Defense.
The industry banker said that another company that could find the technology of BRS Labs fitting, is NYSE-listed and Melbourne, Florida-based Harris Corporation. Harris too, has a focus on the government sector, including the Department of Defense and NASA, and is also known for helping to provide a secure White House/Kremlin link during the early days of the Cold War, said the banker. Harris has a market capitalization of more than USD 5bn.
The banker described a sales price tag of USD 1bn or more seemingly "a best case scenario," but said he could not rule it out either. He said that at a lesser price range, BRS could be a potential fit with a company such as Fairfax, Virginia-based and NASDAQ-listed ManTech International. With a market capitalization of nearly USD 1.9bn, ManTech provides technology and solutions for national security programs for the intelligence community and the Department of Defense.
Davis founded BRS Labs in November 2005 - this is his eighth company. The company has received funding of USD 23m. The company’s business plan is to build a product, prove its viability, and then sell to a larger company, he said.
Behavioral Recognition Systems (BRS) Labs is a software company that developed an adaptive learning video surveillance algorithm called AISight. The patented software analyzes video feed and makes observations about normal behavior based on the activity in that environment and then flags events that are out of the ordinary.
BRS Labs’ technology is used for surveillance of subways, military targets, borders and embassies. The technology has fewer false positives and requires less human intervention than standard surveillance programs, Davis said.
BRS has more than 35 engineers working in the area of artificial intelligence.
posted by Fab at
5:33 AM
261 Comments:
The acquisition of a company like BRS would help a large company create a new revenue stream.
How can this company be worth 1Billion with no contracts?
could this be a pyrimid scheme
I wonder who wrote this article?
I find this post to be unbelievable - given the economy, the early stage of the company and the lack of independent/customer proof. I have been covering BRS Labs for 6 months ago and am becoming increasingly concerned.
Is this a scam?
I have invested in this company and am concerned about the possibility that I could be losing my investment. Are there other investors with the same concerns?
I happen to know of 2 recent international installs of AISight for commercial companies (non governmental). Not sure of $1+B price tag but they are indeed taking off.
Why would someone admit they don't want to run the business but only want to sell. That would hurt the bargaining position in a sale. Then to top it off they throw a starting number out there. A first year graduate student knows the one that mentions money first is at a disadvantage. Also, they have 100M "in the pipeline". A lot of red flags here. Sounds like they are trying to get someone to pay 100 million for a company that isn't even making a profit yet. Don't know but sounds fishy to me. Do they even VC? Someone needs to tell them the 90's are over. Why spend even 25 million when you could develop similiar technology (even if it works!) for a lot less...
want to know about brs labs and its potential ? Check out ray davis. this is his third scam. start company, sell stock then jump.see you later invester.
That's a different guy. That guy was already sentenced. I know all about this company and where it's going. This company is going to hit it big. You watch and see. I have already talked to one of the contracted companies. They love the software. Just Wait
Do you know how many times I've read comments full of shit and then watch the company go through a liquidity event? In most cases it's a public company with short pressure, in this case what the fuck are you doing with your time? Go do something productive. I'm sick of dum bitches complaining about companies they know next to nothing about. The real question is, why would you be paying attention to a company you have no vested interest in? Go create something and stop spectating. You are killing me. I'm sure you are an IB, or you are out there with your angel investor funds commenting with your spare time, or just finished your EMBA and think you know something. Question is, where are your dollars? Investing in an online casino? Your buddy tells you about a guy who has a freight company and just needs a bridge loan to move containers from China? Any investment that ends point plus is a good one. Especially in this economy. I don't work at BRS, But looking into it, and I see these posts, and think to myself... read above.
He He. More please. My odds are on BRS! That other guy is a fool. Can I get in on this banter? I'm new at this too. Call me a jerk or something. I promise to get really mad at home too and make others laugh. I'll start. Fuckers! How do you like that? BRS Rules! See you at ISC West Anonymous.
Youre all talking poop
It just doesn't make sense to me. Setting up the parameters in other systems is a one time fixed expense versus having the system learn "normalcy". So you have two problems that need to be PROVED out. First, that the system can “learn” threats as well as other systems initial setup (very doubtful in my opinion). Second, is the cost savings of this feature more than the fully realized incremental cost. I just can’t see either of these conditions being proved out.
People who invested in BRS will win big. They will be laughing at you fuckers all the way to the bank
any company that would pay even 100 million for a company created with 35 million and not making a profit (i assume) based on 3 years r&d is a fool. create it yourself in 1 year by investing 75 million would be a bargain compared to the whacked out numbers they mention in this post.
BRS Labs Wins Best New Video Analytics Product at ISC West 2009
I agree with some of these other posts. if it is such a good idea and a big corp is so interested why not spend 20 million in India where you can hire engineers for 1/10th the price as here and develop something over say two years. save yourself 980 MILLION dollars. two years head start can't worth that much.
ALL BRS INVESTORS PLEASE REFRAIN FROM POSTING ON THIS WEBSITE. NO OPINIONS OR FACTS PLEASE!
If I might nose in here. There is more ways than one to skin a cat. many credit algorithms here in europe and i suppose in america too.
I can give you one very good reason as to why this is a highly suspicious investment. BRS hired brokers to sell securities in a private company to non-institutional investors, rather unsophisticated investors who wouldn't know the pertinent questions to ask when making a private equity investment. If there was attributable value it would have made more sense for this company to take institutional dollars that could have a compounded effect on the value creation. Furthermore the capital raise provided no dilution protection or liquidity preference...hence no investor protection. And the valuation was rediculous for what amounted to a startup. I've worked in VC for 6 years now and this investment wouldnt even get 5 minutes of consideration with the delivarables I saw. Good luck on making any returns.
For a guy who supposedly has worked in VC for 6 years, I find it somewhat suspect that he remains employed in any meaningful capacity, having actually posted the spellings "rediculous" and "delivarables" . Add to that the concept of institutional dollars...
"that could have a compounded effect on the value creation. Furthermore the capital raise provided no dilution protection or liquidity preference...hence no investor protection"
...and I have to say that this moron could not possibly have made it out of even pre-business studies.
I call bullshit when I smell it, and the "VC genius" above stinks badly. Nice try though!
I was approached about investing in BRS almost a year ago. I was guaranteed that buying 1,000 shares at 4 bucks a piece would pay off 30 dollars each when they sold to a larger company. Mind you, they had no idea who this company would be or what they would be paying exactly, but nevertheless i was guaranteed this return. I was very skeptical and passed on the chance, but wished the others who wanted to try it good luck. I've asked about this deal that was supposed to happen last year and my friends look down at the ground and fall silent. The true sign of a sucker who has realized they were taken advantage of. I think this is definitely a scam.
Interesting....BRS never sold stock at $4.oo per share. Something smells fishy, like a BS story. Another good try.
Well bottom line if it is "fraud" someone or many will go to jail!
Watch the movie "Boiler Room", it is very similar to this BRS crap. Get ready the FBI will get involved if not already.
WOW a lot of haters!! WTF do you guys care if BRS sells or not? You are not invested and don't plan on it so it should not make you so angry. What is so strange to me is that you guys are so intelligent and so amazing at predicting the future how do you find so much time to blog. If I could give you a suggestion GO FIND A JOB with your amazing skills or go back to your porn sites that fill your time with.
With love
P.S. leave your home address I will send you something nice when it sells.
Investor's
The only people that are going to make money are the unqualified sales people for BRS and Ray Davis. This is his 8th company that has failed. They all are Rainbow Vacuum Salesmen. So investors suck it up and let the truth be known. Most of the rude comments posted here are by Brian Meade he is a lying, arrogant, rude vacuum salesman that sold this BRS crap and Ray Davis's other company flops. They started out saying that it was going to sell for $100 a share, now they are down to $10.00.
BRS's CEO high personal expenses, huge burn rate, huge bonuses and much over paid BRS stock pushers and their bonuses for more suckers, will lead this company in a hole in Feb. 2010. They have to keep selling stock to keep the doors open. I wonder if Ray Davis, Ozzie, Brian, and the others will pay back the investors out of their huge win fall when all the investor have lost their investment.
.
Their 1 year is now 3 years and the stories go on and on and on. IF they had such a great product...then why aren’t the large companies having a bidding war?
Per Ray Davis and his wise men, all the Government agencies want there product and it is the best. Then why don’t they have as many contracts sold as they had pilots??? If it was that GREAT?
Call the IRS, FBI and get the investigations on to them NOW.
A real MADOFF GROUP these guys are. I am an investor that has already kissed it good bye.
July 23, 2009 11:34:09 PM EST
Bravo... someone stood up and is telling the truth. We are afraid to cross the wise men. Fear that they will cut us off and not tell us anything. Same BS. We are selling it...
So while we are at it!
Where is the BRS Audit that was promised a year ago? Investors deserve at lease to know where it was spent... on salaries, bonuses and commissions.... All Gone..
Don’t want to spend the money Ray Davis say's.
What company is going to pay 1 Billion or 1/2 Billion for a bookkeeper company with not accountability?
Well I sure hope these last comments are incorrect. So many people sold this fantastic opportunity word of mouth to friends and family stating the same things these last 2 claim to be as our new truth. With so many investments down huge in the past few years I justified this as, atleast BRS hadn't lost value and was atleast worth what I bought it for at 1 and 3 dollars. 100 sounded great, 50 sounded like the economy had lowered the world markets ability to spend multiple billions. Now 10 bucks sounds like a dream come true. For those who peddled all this BRS news in hopes to gain additional share in warrents I would be concerned.
If this is a scam how does Davis, Eaton and other executives get in front of major security companies and win the ISC West for best new product? I do believe there has been some super salesmenship but I cant believe that Aisight is worth nothing.
I personally doubt highly that this is a scam. But at the same time, I also highly doubt that there is a good business case for the use of this product. However, I would have to look at relative performance and take a full business case approach to be sure. One (not the only one) aspect I find hard to believe is the analytics itself. Think of it this way. If I ask one person to go in my house and find my sunglasses they may come back with my wife’s sunglasses 30% of the time, my son’s 20%, and mine 50% of the time. Now If I ask another person to go into my house and tell me anything that is “out of the ordinary”. They may come back and say things like “clothes on the floor”, “carton of milk left on the counter”, etc. Do you get the analogy. Out of the ordinary does not mean it applies to the objective (in this case find my sunglasses). Certainly, the former is better (not perfect) but better than the latter. If I have to spend a few extra minutes telling someone what my sunglasses look like well that’s just a little bit of “setup”. BTW, “best new product” does not prove anything. Was the award based on a detailed business case, a well specified field test, the imagination of the judges, voted on by attendees? Does anyone know? I didn’t pay attention myself.
So is this company worth investing in? Is it a good deal or will the investors lose there ass like his last great "Ray Davis" idea.
I guess will just sit back and watch the owner jet set around the world and blow our investment money like there's no tomorrow.......
Investors should have done their homework. What stops any company from issuing more, and more stock. Most mom-pop investors don't know the right questions to ask.
I know for a fact there are some very good things in talks with BRS Labs. 100% confirmed by insiders not even involved with BRS.
What is a not involved insider!?! OK! THAT'S GREAT! Where should I send my check for my piece of the rainbow...er...shares ;)
Look at the other internet articles. July 29th article says
Ray Davis raised 20 million with private investors. On the last
conf. call he said, " I am going to sell 1 million more shares, thats it". One month later he sells
12 million more shares. He can even count how many shares he has out. By his own words on the call that would be now 45Million Shares out... Ray. Do the math.
WHAT IS THE TRUTH HERE RAY???
You have diluted the stock down to nothing... so you can walk away and go to the next FLOP business. Your 9th now.... along with your vaccum sales force.
Something smells at BRS it is B.S.
Anyone can get in front of the SEC... jerk... Look at all the
Ponzi's that have gone through and under their nose.. Billions..
duh, duh.
BRS has no accountablity, nor is it
transparent. I dont remember Ray letting us know he was selling out another 12 Million. Real back door, under handed. No share holders meeting on that one or calls to the investors.
Hay Ray are you taking that out of your Profit or the old men and womens hope for their retirement money back?
Your guys were hitting up babies to invest in BRS. These poor people didnt have a clue what they were buying. You got my parents.
What a joke. The comments posted here have so many errors its a laugh to think that any of these posts are coming from anyone but BRS haters. My request from the haters would be post one site that shows any negative or positive posts from Ray Davis investors. Show a legal document of fraud filed by a previous investor whom claimed they where screwed. Lot of shots at Ray and his past. So please please post a link or two so we can be educated by more than your opinions.
I agree with the last post. Seems to me that there are posting that have no merit. I also call you out to post a link to back up your opinions.Besides the negative postings here I have yet to find anything but positive. Looking forward to the next call myself.
Link to info found on the web about previous companies that failed
http://www.housnitch.com/housnitch%2088.htm
http://www.housnitch.com/HOUSNITCH%2087.htm
link to income 1.25 million when stocks lost money...interesting to say the least if its the same guy
http://people.forbes.com/profile/ray-c-davis/29928
links to video experts calling the demos fake
http://ipvideomarket.info/report/brs_labs_video_analytics_funding_investment_12_million
http://ipvideomarket.info/report/will_brs_labs_revolutionize_video_analytics
both posts have people claiming the demos are fake if you read the comments
All's I have to say is your paranoid.Stop fishing,If it hits big then cool if it doesn't then you should only be mad at yourself for putting all your eggs in one basket. May I suggest hedge funds for you.Part of the risk my friend.Higher the risk,the bigger the rewards.If your not an investor what do you care.Maybe just a hater or a previous employee move forward my friend.
Why doesn't anyone address the comments about the business case. My comments on July 25th brought up some good points about search methodology. If the product has fundamental value that is not replicable by other techniques then the company is worth something. If the search is not cost effective OR an alternative can be developed cheaper than buying this company then the company will NOT have value other than the net present value of operating profits. Do salespeople “puff”. Yes. Some may even lie. That is reprehensible whenever it happens even worse when it happens to uneducated people. Did it happen in this case. I don’t know. But even if it did that does not make Ray Davis a fraudster. I have absolutely NO skin in the game either way. I just want to see performance of the undirected search relative to targeted search. I just cannot believe the algorithm can outperform directed search per my comments on the 25th.
I have seen your comments from the 25th. Let my guess Harvard, MIT"lol,Where did you come up with that. I will be laughing all the way to the bank.I would love to say more but my ps3 is waiting .....
Best of luck to everyone who invested... when were you promised to be paid you 100x return on investment? Was it 1 or 2 years ago?
Obviously, you have something to lose if BRS doesn't make it big. I don't KNOW for a fact it doesn't make good business sense but I highly doubt it (for the reasons I’ve already stated). But if it does NOT make business sense to use the product then the company has no value in the long run. Capitalism is based on efficiency. IF and ONLY IF this product is efficient then everyone will win (investors, inventors, and either a company that buys this one or BRS itself). IF it is NOT efficient then either BRS investors are going to lose OR the company that unwittingly buys BRS. So stop talking about how the product “works” and start talking about EFFICIENCY. Being able to identify “abnormal” behavior is a very, very low bar compared to being efficient. Just because something is sophiscated doesn’t make its use smart whether you are talking Neural Nets, Genetic Algorithms, Logistic regression, etc, etc. So instead of calling names and talking about how the software “works” based on a handful of examples speak intelligently about efficiency. Calling me d* l* only reveals your intelligence NOT mine. I haven’t called anyone a fraud or vile names or claimed people are lying and stealing from old people.
Sounds like there a few different people posting here:
- Insiders at BRS who are posting comments that it works with no case study to showcase (original post states the company was going to sell for a billion in 6-9 months which should be by September)
- BRS hater (still don't know what this is since I am not really sure why anyone would hate a company)
- People who are invested in BRS and like to call people names rather than listen to feedback that might not be what they want to hear so they bash anyone who doesn't praise BRS and the investors
- People who have invested and lost confidence in BRS because the date of promised return has come and gone
- Family members of investors who fear their loved ones have been scammed
- Surveillance experts trying to have an intelligent discussion on BRS benefits and best use
* I am noot sure why some people feel the need to be abusive, if the software works wouldn't you want to have an intelligent conversation about your product. This would only silence the haters.
** If investors are worried about being taken I would be more proactive than posting to a blog with you concerns
BRS Labs has been very tight lipped about most of what they have going on. Even IP video market has relatively no information on BRS other than what is public. People are simply coming to conclusions based on BRS's silence.
I will be graduating high school this year,and I find business very interesting.My question is, If a business sales for a billion or more and is worth 47million in private equity like they say,would that be concedered a excellent investment for investors.or is that just common in todays buisness... thanks..
When you graduate from high school and move into the real world you will learn quickly that saying you are going to sell a company for a billion dollars and actually selling a company and getting paid a billion for it are two very different things.
Hopefully everyone that invested can "laugh all the way to the bank" but until the company is actually purchased no one has made any money except the salary employees at BRS and the commissions that the sales people have made on raising funds to continue to keep the doors open.
A good rule of thumb is 3x revenue for a rough estimate of what a company is worth. If BRS has 300 million a year in revenue this company might sell for a billion.
If it were so easy to turn 50 million into 1 billion (20X) in such a short time banks would have to pay a lot more than 5% year to draw capital away from startups! Even one percent chance at earning 20X is better than 100 percent chance at earning (1/20)X.
http://www.brslabs.com/subway-station.php#flash
This demo looks fake. Why does the briefcase keep moving around when you zoom in (right click to zoom in)after it was dropped?
Is this a real case study or some fancy editing to sell stock?
Actually earning 1/20x return on investment 100% of the time is a better bet. 1/20th or 5% ROI on $50,000,000 is $2,500,000. Do that 100 times and you have profit of 250million ($250,000,000)
If you take 100 attempts at investing 50million to get your 20X return(1billion) one time you would have spent 5 billion (100 x 50million = 5billion) to make your 1billion.
So if you invest 50million with a 1/100 chance of paying off your return should be at least 100x not 20x.
controlling for capital preservation and repeatability 20X @ 1% prob is better than (1/20)X @ 100% prob.
good luck Ray! Hope you shut these guys up......
To the comments posted on the 23rd of July. Hi Gee Gee and Joe! Why don't you both shut your big mouths? Your not even investors in BRS. The only reason you have any stock is because your mom left it to you when she died. You have no skin in the game, so shut up! Don't you realise by making baseless negative comments about BRS and the people who have made BRS possible your only hurting yourselves? How stupid are you???
In responce to the post on January 28th. If your worried about losing your money in this investment I will buy all the stock you have. Let me know on this blog if you are interested and we can make arrangements.
I am a current BRS Labs investor and I have been satisfied with my investment. I believe that the company is moving in the right direction towards acquisition and I feel Ray has been open and honest every step of the way. If fellow investors read this blog I want to wish you all good luck and hopefully soon we will be celebrating. We are apart of something special and we are apart of something that has the potential to save lives. Good Luck Everyone.
So here is the general line of reasoning posted by the BRS “lovers”:
1. It’s going to hit it big (Just trust me).
2. BRS will help a company generate revenue (No evidence provided that BRS is actually generating a profit right now).
3. You’re an idiot usually with some type of vile name thrown in.
4. Things are happening at BRS (Just trust me).
5. Their product “works” (Just trust me).
6. Why do you care.
7. I’ll buy your BRS stock (Trust me apparently BRS is sooooo good they will offer to buy your stock on a blog for crying out loud!)
8. BRS won an award at ICS (Closest thing to an argument but still like a previous post mentioned no mention how the award was handed out: Vote of participants, field test, etc. Lots of products have won awards but weren’t practical. Remember how the segway was going to revolutionize the world of transport.)
So you tell me are these sound business arguments why the company is worth 1 BILLION dollars (or even the capital already invested) or the utterances of biased self-interested people hoping upon hope to hit the jackpot.
Looks like BRS' competitors have found the blog. You guys must really be worried!
You can add another one to that list:
9. Only competitors are skeptical.
The people posting negative arguments about BRS Labs sound like the dorks in school that all the cool kids would make fun of. Forget about how much BRS Labs will sell for, but let's hope that the software does work. Our world is so fucked up and if BRS does half of what it says it does we can have a solution to a lot of problems. From what I have read on various non-biased websites about BRS Labs is that the software is revolutionary and if what BRS says is true, the world may end being a lot safer. Stop being such cynics and for once in your life stop being the nerd in the corner that picks his nose and eats it.
Great now we can go on David Letterman. Drum roll...and Number Ten:
10. FUD (Fear, Uncertainty and doubt). That one is classic. What took so long. Liked how you reach back into your old bag of tricks and through in some insults too.
Interesting that the link to a sample of the product working (http://www.brslabs.com/subway-station.php#flash) people pointed out as video editing and fake (the briefcase that was dropped was not moving as the camera moved slightly causing the background to move exposing this example as edited) has been removed from the web and is now redirected to samples (http://www.brslabs.com/examples.php) that look totally different, aren’t nearly as impressive which must be the actual product working. Why would this be redirected if it were real?
Give it up! You just need to get back to your little cubicle at Object Video and try to save your job while you have a chance. Or maybe you should aply at BRS, I'm sure there hiring but their standards are probably out of your reach.
"The people posting negative arguments about BRS Labs sound like the dorks in school that all the cool kids would make fun of."
Are you saying the only bloggers who are critical of BRS are the smart ones!?! I'm sorry but you sounded like a brs supporter. I'm confused.
It sounds like 1 person and 1 person only is making all the negative comments about BRS Labs. It's pretty funny. I'm starting to feel bad for him. I checked out the BRS Labs website and the new examples look like real scenarios catching alerts. Looks good to me.
I know for a FACT that more than one person is making what you call negative comments. If you feel so sorry for them why don't you buy their stock for what they thought they were going to get. I have made no negative comments only objective ones. But I must say in my opinion, the unprofessional comments have overwhelmingly come from the brs supporters.
Someone sounds really bitter.
I just can't see an application where this would make sense. Forget the false positives. The real issue is the false negatives. You wouldn't want to use this where lives are at risk due to slowing down response time (alerts must be verified first with this process because of false positives). So that would leave theft prevention applications. I would think two things are most likely. First, the increase in cost (software, hardware, etc) plus the increase in theft due to false negatives would be greater than the labor savings and thus you wouldn't would want to use this system. Or the opposite, the labor savings are more than the cost plus increase in theft loses due to false negatives. However, in these latter cases I suspect most of the time the use of cameras shouldn't be used in the first place. So a better strategy would not to use anything. Anyway that is my opinion.
BRS Labs Takes ASIS` First-Ever Accolades Award for Unique Approach to Security
http://www.reuters.com/article/pressRelease/idUS139995+08-Sep-2009+BW20090908
That's the FORTH AWARD this year! Google "brslabs award". The list of articles is growing every few minutes. The anouncement just went out this morning. Very Cool!!
Again, awards dont mean it's a good product in real world applications. Plenty of company's/individual have won plenty of awards. Want me to list some examples: Segway, Geocities, Enron...So what!?! Let me state this very clearly. I am NOT saying this product is bad or has anything in common with my examples. But winning awards does NOT make a product a good real world product. It only shows the opinions of the people who voted. (Be it unbiased judges, the participates of the convention,etc). This type of reasoning reminds me of the insurance commercial that states people who switched (to our brand) saved an average of $300 a year. OK what about the people who called and decided NOT to switch. In other words a biased population.
Mr. Negativity. Stop posting already, Get a new hobby. Wow.
OMG, this guy must really be hurting! I guess it's not enough that the award was given by the preeminent organization for security professionals worldwide, or that the entrant list included just about everone including Microsoft, GE and Bosch. Come on dude, relax, we know you're "smart" !!
Again no concrete business case. Do you people know what that is or just name calling. I do and it is not my hobby but my profession. So you are slick with power point, or politicing, or the field tests were favorable to your product. Each of the above could explian the awards (because many companys have won tons of awards and ultimately failed). I suspect you are upset because you are some type of stake holder. Instead of reacting the way you are you should come up with reasonable responses. Trust me, I am doing you a HUGE favor by throwing these questions out there. Have you heard the expresssion "iron sharpens iron". If you can answer these questions you really might get a huge pay day. So lets start small. Give us the details on how these awards were handed out. That would be a start. This is not unreasonable. When that small hurdle is answered that will show me you are serious. Then I will show you how to prove your product is superior to other products-if successful. I usually charge 2500/day for this.
Wow, and we're getting all of this good advice for free!!! I think if we were to take you seriously, you would have to start bloging under your actual name. I'm guessing you can't because you are with a competing company or worse. I tell you what, we'll call you, and pay your $2,500 when we WANT you. Until then, you should find another way to fill ALL your spare time!
If what you say is true, just as I suspected:
1. You have a stake in BRS.
2. Not interested in a real test. Only PR.
Come to think of it I used some of my spare time last night in a similar fashion. I watched "Magic's Biggest Secrets revealed". ; )
To the post on August 25th. I as you are am an investor. I feel the same way as you do, And glad to be apart of this. I have nothing but confidence in Ray and what I no about aisight. The negative blogs will be silent soon. And when it all becomes public may everyone appreciate the talents of Ray and all the scientist involved...
Sacramento,Ca
did the traveling minions propell them to victory? VC's can't offer that.
New Program Recognizes Security`s Most Innovative Products, Services and
Solutions
ALEXANDRIA, Va.--(Business Wire)--
ASIS International, the preeminent organization for security professionals
worldwide, has selected its first 10 ASIS Accolades winners. ASIS Accolades is a
new awards competition that recognizes the security industry`s most innovative
new products, services and/or solutions.
ASIS invited exhibitors at the ASIS International 55th Annual Seminar and
Exhibits to submit new technology, product or service solutions for evaluation
and judging for the first annual Accolades competition. The winners will be
recognized at ASIS 2009, the security industry`s leading event, held Sept. 21-24
at the Anaheim Convention Center in Anaheim, Calif.
A team of judges representing end users and experts in security technologies
evaluated more than 130 entries before selecting the top 10 winners. ASIS
Accolades are solutions oriented, not product specific.
Accolades winners and their products/solutions will be highlighted, along with
other new products on the Exhibits floor, during the Seminar`s "What`s New on
the Floor" session, on Monday, Sept. 21 at 1:30 p.m
Now you getting closer. Good job. I'm not be negative when I ask objective questions. I have NO reason to be against BRS. I just find this stuff interesting. Look up the Socratic method or maybe rent the movie "Paper Chase".
Why does everyone even respond to the negativity? That is what feeds him/her. Can't argue the awards that have been one. Aisight rocks,I personally am going to make a killing on it, as well as everyone involved with BRS. Thanks Ray your creativity and management has been everything that you promised. This has been my first investment with Ray, and wouldn't hesitate to look at investments in the future w/Ray
Sacramento,Ca
You are sick of me...Now that hurts. Negative no, critical thinker yes. For your sake I hope the actual BRS workers are a little more analytical than their supporters on this site.
ASIS International, the preeminent organization for security professionals
The segway was "unique". Not efficient but definitely "unique".
This is the fourth award BRS Labs has won this year. BRS was recognized by Network World as “One of the Top Ten Security Companies to Watch”. AISight also won at ISC West in April 2009, claiming the top spot in the Security Industry of America’s New Product Showcase, and named “Best New Video Analytics Product”. Most recently, AISight claimed “Best in Show” at the May 2009 Security Summit in the category of “Most innovative Products”.
ALL AWARDS BY A PANEL OF JUDGES!!!!
1. Most unique
2. Best new analytics product
3. best in show
4. most innovative
is impressive but none mean the product is efficient!
segway won similiar awards and still is being used today but i don't think anyone would say it lived up to the hype.
I'll take targeted search over unsupervised learning any day. Even targeted search might not be efficient if a camera shouldn't be placed in a particular location in the first place.
Technology, known as AISight, has won the top
prize in the first annual ASIS International "ASIS Accolades" program
is it possible to have someone monitor video remotely. train some workers in low wage countries.
Thats funny you may be on to something . I like it train the telemarketers to watch video in India.
ASIS International is the preeminent organization for security professionals. Founded in 1955, ASIS is dedicated to increasing the effectiveness and productivity of security professionals by developing educational programs and materials that address broad security interests, such as the ASIS Annual Seminar and Exhibits, as well as specific security topics.
By providing members and the security community with access to a full range of programs and services, and by publishing the industry's No. 1 magazine—Security Management—ASIS leads the way for advanced and improved security performance.
blah, blah, blah
Here is another award:
The Riskiest Company to Invest in
http://ipvideomarket.info/report/riskiest_companies__brs_labs_and_timesight
Awards assist manufacturers in selling products rather than identifying the best solutions for user's needs.
This is a growing concern as the number of awards are increasing substantially. This month, both ASIS and Security Products jump into the awards game.
General Problems with Awards
A number of important problems with awards should be recognized:
* Judging criteria is vague or non-existent (judges can choose whatever they think is 'best')
* No testing of the actual products are performed
* Information used to judge is limited to data sheets and marketing materials
* Entrance is often constrained to those willing to pay the fees or buy a booth at the exhibit
* No information is ever provided on why the awardee won and the other participants did not
ASIS Accolades
ASIS promotes its new Accolodes award program as "an incredible marketing opportunity that will give [vendor's] valuable exposure and recognition."
Vendors submit basic product information and answer 4 questions. Judges review the submissions and then pick winners.
While the submission fee is only $250 USD, only exhibitors may enter (which usually a minimum of $8,000 USD for a booth).
ASIS states this benefits security professionals by helping them identify new and innovative offerings. Certainly, the mission of ASIS is to increase "the effectiveness and productivity of security professionals." However, how does limiting awards to only exhibitors help security professionals?
And why did ASIS choose BRS Labs - a company that has zero public proof of their extremely difficult claims?
10 IT security companies to watch!!!!!:)
thanks for the info on awards. for enlightening. i figured it was a bunch of PR. your industry knowledge was helpful. others should take note. that is what blogs are for: informing not insulting.
I believe a lot of the comments that are being written are from John Honovich. John is a smart guy and he is an expert in this field. He has a website ipvideomarket.com. He has devoted a lot of time and energy on his website attacking the claims that BRS Labs has made because BRS Labs will not allow John to test their technology and he feels that BRS Labs is over-marketing their product. John has a sense of entitlement and has been very negative about BRS Labs even though individuals on his website have told John how great the technology is working in real world scenarios.
Here is one comment from someone who is using BRS Labs
Now onto BRS Labs. We met them at ISC West, liked the premise and began testing their software early summer. To date, the software has performed very admirably against the competition. And, believe me, we've tried plenty. Contrary to your comments I find BRS to be in the business of lowering expectations instead of hyping, which has caused many "analytics" companies major brain damage
Here is another comment from Someone who is using BRS Labs
• “Hi, I am a security advisor from Brazil/South America. I know BRS at several accounts (mostly financial and gov) here. In also, IBM tested and selected BRS to be installed in their Solution Center here in Sao Paulo for all Latin America. Cisco recently integrated their physical and it security divisions in one Unit and has follow the same actions. I am with a global major bank that deployed and tested and bought BRS for further deployment at bank branches. The BRS system is highly impressive. I do not know why you say “riskiest”? I need to understand, is there a problem I don’t know about which is about?
Other analytics are simply considered primitive here not intelligent as they didn’t deliver their promises through implementations.”
The truth is BRS Labs is not a long withstanding tested company. But this company MAY have one of the best technological advances that we have seen for many years. If BRS comes through with their claims it will shut John up and change the video surveillance market forever.
Sept 11th comment wasn't from John but rather someone who follows video surveillance and finds John to be the leading resource for information on the industry.
I think its horrible that BRS continues to make empty claims and post rude and vulgar comments when someone questions them rather than following the cult blindly. BRS investors, owners, vacuum salespeople and their PR firm choose to insult rather than discuss. Why wouldn't BRS want the endorsement of an industry expert? Instead of responding to the claims that the video samples were false BRS just removed the demos and that makes them look deceitful. If the demo wasn’t fake why did it get removed and redirected on your website?
Their investor’s talk about all the money they will make and I hope they are right. If the product works that would be great for the industry and your pockets. But don’t you question why instead of backing up the inquiries with facts they spend their time and the investors money making videos like this (http://www.youtube.com/watch?v=hefCw_5OeY4) (the IP address for this post ("70.240.185.190") resolved to Houston TX, where BRS Labs is based.
Posting some PR about winning some “marketing” contests that don’t even test the actual product on several blogs isn’t going to make a company worth 1 billion.
For any BRS user may I kindly suggest the following. Calculate below:
1. Total cost of labor, software, hardware, setup, etc.
2. Number/Cost of missed “alerts” - difficult but very important.
3. Incremental cost of false alerts.
For each of the following situations:
1. What you were doing before BRS.
2. Doing nothing.
3. Using the BRS system.
Option 2 will have the lowest install/monitoring cost and the lowest (zero) false alert cost but the highest missed alerts cost. However, if 1 + 3 is less than 2 no monitoring could be the best option. If the issue is safety then this P&L may not make sense. However, I would make the argument that only active human monitoring makes sense in that case anyway. Missed alerts are just too important in those cases (you can’t put a price on a human live).
I think the incremental cost of false alerts could mainly lower the labor cost savings from BRS.
I have an idea to test the reasonableness of any claim of “virtually eliminate” false positives. Assuming by false positives it is meant falsely alerting on unwanted events (Eliminating false positives when you are talking about “abnormal” behavior is easy. For instance, it would be “abnormal” to see someone that is 8 feet tall. So if you alerted on that and you define your target as “abnormal” then it is not a false positive. However, if you alert on an 8 footer and that tall person does NOT do anything unwanted and you define your target as unwanted behavior then that would be a false positive). Since real data doesn’t seem to be available you could check into the performance of a credit score. Credit scoring is a relative easy problem. They have actual clean data in the form of credit history on individuals and the target is well defined. I think you would find that the people who have used these scores would find the notion of zero false positives to be laughable. Not that they don’t work. I would guess that the BRS alerts would perform A LOT worse than credit scores although I haven’t seen the data just my opinion. This experiment would be useful to put the claims into perspective for security professionals who might have never before seen an analytic product.
Hello, I would like to answer questions from Brazil. I did visit BRS center in Houston and the company took me to see the system run at a nuclear plant in the USA before I chose to start the evaluation. The nuclear refinement plant was running AISight since the time 2007 and they were very happy with BRS. BRS installed their system in major bank in Sao Paulo in 48 hours and it was finished learning in 2 weeks.
We did not do anything to the system to program it or set it up for the cameras. Their system does not use trip wires the zones like other systems. This is one reason we wanted to try them. We must make sure customer safety in the ATM lobbies throughout Brazil as that is a critical daily problem here. Every camera is positioned different and in every lobby it is different. We cannot afford to make all the setups that are required with other systems. The lobbies are indoors and outdoors. Lighting and weather were big problem with other systems. AISight works in both areas. It works even in rain. Every location is different, some have analog cameras, some have digital cameras, some new ones some have old.
We need a system that worked with all cameras. We have tried most of other main analytic products but decided on BRS. The false alerts are small. The management reports that the system generates helps us determine where we need to place resources. We get less than one false alarm - negative or positive - per day. This is major issue with other systems. We could receive thousands of false positives per lobby per day using them. The price was very good. BRS is a certified HP Reseller so we purchased the complete system from BRS including hardware and software. But you can buy just software if you want. You should ask BRS about prices, I am not comfortable talking to that. I can say AISight is working and there is nothing else on the market like BRS. That is why we are expanding our use in the two largest financial institutions in Brazil as planning for other segments as well. I think it is risky NOT to use AISight. Thank you.
how many alerts TOTAL do you get a day?
Will someone please compare the Ioimage product vs. Aisight. They seem to be very similar in their approaches. Are they different in idea or design? Because even their demos seem the same.
For the record, I always post with my real name. There are no hidden 'anonymous' comments by me on this thread.
I am also happy to recommend BRS Labs products if detailed independent proof on performance, cost, compatability, etc is provided that demonstrates its competitive value - just like I would for any product.
I find the posts between Pro BRS Labs Investors and Haters to be both narrow-minded and unprofessional on both parts. Not all, but there seems to be a personal agenda going on.
I will state for the record that I am a BRS Investor. I felt that it was a risky but intriguing investment with upside potential. It was money that could be lost and with the conditions of the marketplace, I felt is was worth the gamble. No investment is guaranteed. You have to weigh the risk versus reward paradigm.
I feel that Ray Davis has been more than forthright in his communication with the shareholders of BRS. Being a non-public company, they don't have to communicate anything if they don't want to, but we have been kept abreast of proceedings on a regular basis.
Industry Professionals and competitors seem perturbed that BRS won't open up their organization for all to see and evaluate. Why should they? They have a unique technology with a multitude of patents that they have the right to protect. Their clients are the only ones that need to be sold on the functionality and success of the product.
What is the value of the company - No one knows at this point. It is simple business 1.0 - the value is determined by what others perceive it to be and what they are willing to pay. Everyone is so caught up on whether the product is a legitimate success or an over hyped technology flop. We won't know until the company is sold. And even at that point, the true success of the product will be years down the road. Back in the tech boom, was Ariba worth $150.00 a share? No, but the market drove it to those unrealistic numbers. There were many companies just like them.
If BRS is sold for 100 Million, I will have made money. That is what the shareholder will evaluate, not how many clients, products, patents or awards, the company has won. Time will tell.
To the last post. BY far the most mature post that I have read. I as well am an investor. I agree with what you have to say and couldn't have said it better.I welcome everyone's thoughts and insights just keep them mature and professional.
Aisight vs. Ioimage Anyone??
To the poster who seemed to claim that a company is worth whatever they can convince others to pay for it, I would like to make a few comments. First, in part it is true that the real value of a company is not known until the company’s END date. In other words, projections are made about the lifetime value of a company’s products. Sometimes those projections are too high and sometimes too low. As long as these errors happen honorably then I have no problem with it. That’s just the way forecasting works. But if they happen because someone misrepresents the FACTS well that I have a problem with (I AM NOT SAYING BRS LABS IS DOING THIS. I AM SPEAKING GENERALY HERE). Second, PUBLIC OR PRIVATE, if you want someone to use your product and buy your company you should expect to provide OBJECTIVE evidence that it works. BRS supporters (NOT saying BRS employees) on this site and others seem to object to anyone seeking to find the truth to the point of calling them “haters”, vile names, and in one instance even worse. In fact, you claimed that people are “perturbed” because they [BRS] won’t provide that evidence. “Perturbed” because they want facts! What!?! A few posts ago I laid out a test to measure the total cost of ownership. If it truly works like the claims I’ve seen and heard on sites and conventions then BRS system would have the lowest cost of ownership between the three situations for any given client (previous strategy, no monitoring, and BRS use). As more and more clients become users you would have more and more head-to-head comparisons until it became commonly accepted that BRS is the best. Why aren’t we seeing these numbers for even one client (at least I haven’t seen it). Please don’t just refer me to some PR site where a client says “it works”. Please read this closely. I am NOT saying it doesn’t work. I JUST WANT TO SEE THE FACTS. Third, unlike the vast majority of security professionals I’ve meant, I have a background in analytics. I KNOW how models work. They DON’T work like the TV show “Numbers”. Every model has FALSE POSITIVES and FALSE NEGATIVES. (Well to be correct, every model that is not alerting on EVERYTHING has false negatives and every model that alerts on SOMETHING has false positives. That trade off is CRITICAL to the everyday performance of the models. Interestingly, we’ve seen how the value of investments can be vastly overstated by bad models. That is exactly what happened with the mortgage meltdown.) I have a philosophical problem with the claims that a model built to alert on “abnormal” behavior can actually outperform one with a specific target. Search in everyday life does not work that way so why would video security work that way. Just because smart people use a bunch of words that most people don’t understand does not change that. Handpicked video clips, does not change that. PR sheets with clients claiming “it works”, does not change that. Awards from conferences and associations, does not change that. Web postings from biased observers do not change that. Let’s see a well structured field test from an independent organization proving BRS has the lowest total cost of ownership. IF the facts prove out the value then maybe BRS is worth 1 BILLION DOLLARS and investors will retire in the Bahamas.
PS, I do NOT work for a competitor, I am NOT John H and I have nothing to do with him (although I’ve seen his site and respect his work).
We'll all know very soon!!!!$$$$
YES WE Will
Dear Mr. I do not work for a competitor ...... You DO HAVE some personal agenda based on the time and effort you have put forth in discrediting BRS Labs as a company, and the back tracking that you do after each and every critique/challenge you present to cover yourself from a legal situation.
This site is MERGER TALK -not a technology review blog. You should stick to ivideomarket if you want a technical banter.
I never said the company is worth whatever they can CONVINCE others to pay for it - In any merger or aquisition, the purchase price is determined by many factors. You can not convince someone to pay X for it if the purchaser values the aquisition at Y. When multiple suitors are involved, they drive the price up or down based on perceived value.
You have repeatedly tried to state that there is no evidence that the product works. Do you really think BMO would represent BRS Labs without having a thorough understanding of their client and its products. I don't think they would waste their time and money taking a company to market without doing their due diligence and believing in the organization and its technolgy. I will save you your rebutal in that I am sure you can pick one instance where this wasn't the case - but it isn't the norm.
You seem to think BRS should open all of their proprietary knowledge and programming for all to see.
BRS has provided their industry plenty of information to position itself as a leader. That is why they have created such a buzz. That is called Marketing. Do you think millions of Sham Wow's would have been sold without marketing?
BRS owe's you nothing. Unless you are one of the corporations involved in the M & A process, why do they have to provide anything to you. They do not have to provide to you any objective evidence that it works, they do not need to provide a test to measure the total cost of ownership,and they don't owe you any results from tests and real life scenarios they have been involved with over the past 2 years. You are not representing the well being of the security industry - last check I did - there was no watch dog listed as anonymous.
I am sure that the proper documentation is being provided to the suitors of record. If not, the value of the company will be greatly compromised.
In conclusion, no one on this site is capable of providing you with the analytical knowledge you desperately thrive for. We are mostly investors who got interested in this post because we came across it from searching for BRS news. Now it has taken on a life of its own.
I remain confident in the company and the process it has taken so far. Because of new tax legislation with the new Government Administration, I would think something will be done before the end of the year. Both BRS and the Aquiring company would benefit by completing the process in fiscal 2009. But nothing is for certain.
To get the answers you have requested, I would suggest that you go to the ASIS International Conference taking place September 21-24 in Anaheim California. Through press releases, I believe BRS is in booth #601. There, you could talk with the people that can answer them properly.
BMO ROCKS...they are "VERY HAPPY" with BRS!!! $$$$$$$$$$$
You really should take a deep breathe and try to relax.
1. The value of a company IS the sum total of the (Present) value of their products. The value of products is based on the underlying P&L of those products. So it is VERY relevant to THIS blog as well as the other one you mentioned.
2. I have gone OUT OF MY WAY NOT to libel anyone becuase THAT would NOT BE RIGHT. I want to be fair to everyone INCLUDING BRS. In fact, I have actually posted comments against those that have done otherwise.
3. I never said who YOU work for.
4. Of course they don't OWE me or anyone else information. That's goes without saying. What is interesting is YOUR reaction to the statements. I see MAC comparing themselves to PC's all the time. What's wrong with that. Our whole economy is based on competition. Next time you are at the pump look at the signs. It will contain 1) a price and 2) octane rating. Would you buy gas without knowing that. I wouldn't. So why such an emotional issue. I really want to stop checking back at this site. I'm ready to move on. So as someone else correctly noted a while back stop responding to me. I'm stubborn and always need the last word (my wife would tell you that). Seriously, no matter what happens. Good luck. God speed.
POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE! POP CHAMPAGNE!
I am investor in BRS Labs. Did something happen for me to celebrate? let me know
You didn't hear . Ray didn't call you. Just kidding .Soon enough soon enough
What is the difference between BRS and VideoIQ or Intelliview?
http://www.videoiq.com/products/videos
http://www.intelliview.ca/analytics.html
Not trying to bash anyone so please don't just insult me, I am curious what the difference in these products are and if my company can afford them for our small needs.
I also have the same question about Ioimage. Thanks sorry for the third request. GO BRS!
Champagne!?!...I think a few people having be toasting alright but I'd say it's more like "Kool-aid"...
Ill take a glass :}
If you prefer "Kool-aid" I can make that happen...
To do what AISight does one needs:
- video software that can track 3-dimensional objects using a 2-dimensional video image. This is a known solved problem.
- A second layer of software (that uses the first as input) that distinguishes static and moving objects. Static objects form a "background" which can largely be ignored except for collisions with moving objects and except for specific human-input exceptions.
-A rule database. The initial rule database must have many rules about default object behavior and interactions.
-A learning system that detects heretofore unseen interactions, alerts a human user and asks for a new rule or validation of the anomaly as something that should cause an alert.
Moving objects must be dynamically tracked and their behavior somehow segmented into steps. This is arbitrary in that there can be a theoretically infinite variety of such segments for any given macro behavior. E.g., I can say "Mary handed the book to Tom." or I can say "Mary grasped the book, Mary extended her arm in the direction of Tom, Tom extended his hand in the direction of Mary and grasped the book, Mary un-grasped the book, Tom retracted his arm (with the book)." Both describe the same action, but the second has a finer segmentation of behavior.
All the pieces are available in freeware. It's essentially a classic AI expert system. Since they're getting millions for known technology (and software), I expect to see a freeware version of this available soon!8-))
i took your idea about the freeware i figured i would start on my own system, save myself millions if not hundreds ,or the other way around ! so I tried craiglist nothing in free section and what i did find people wanted money for it.I did come up on some kitchen items people thought i was wanting faberwere ."some quiet and odd moments at the door steps of a few people on craiglist they all thought i said faberwere >now I no why i couldnt find the model number they where describing,but the stuff is nice i'm going to re-post the faberwere,"clean it up a little,you no make some money on it. collecting faberwere and distribute it through craigslist " calling my product " FABERWORN " meaning used and protect me from misleading lawsuits from faberwere .." in fact im sure my add is posted in your city pull it up in households and let me no what you think I cant take credit for it but my script writers and colleagues from
" two and half men" worked on the add. AND MY MOTHER IF YOU NEW WHAT SHE SPENT GETTING ME INTO UCLA!! TELL YA FIRST CLASS LADY ,SHE GOT ME A JOB IN THE STUDENT STORE TO HELP PAY FOR MY TUITION OVER AT MOORPARK C/C IN THE VALLEY.OK ALL ASIDE NONE OF WHAT I WROTE WAS TRUE ." EXCEPT MOORPARK CC, JOB AT STUDENT STORE, AND WRITER AND ONE THING I DO NO IS NOTHING ABOUT SOFTWARE,COMPUTERS LEARNING.IN FACT LET YOU IN ON A SECRET" YEARS AGO I OVERHEARD SOMEONE SAY THAT THEY WERE GOING TO BURN A CD AND IM THINKING TO MYSELF HOW STUPID WHY DOES HE WANT TO DESTROY IT > SO HE MADE ME A COPY ......ANYWAYS I WAS IN ANAHEIM MET SOME OF YA AT THE ASIS THE BAR NOT YOUR CONVENTION .AND I TOLD YOU I WOULD LOOK AT ON LINE ,,,,,SO AS YOU SEE I DID !! " "FABERWORN"
BRS Labs Creates Behavioral-Based Video Surveillance System That Reasons Like a Human Brain
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September 21, 2009 7:17 AM EDT
Advanced Behavioral Analytics(TM) Software Creates a New Paradigm for Video Security
HOUSTON--(BUSINESS WIRE)-- Behavioral Recognition Systems (BRS Labs) today announces a ground-breaking video-surveillance technology called Behavioral Analytics(TM), which leverages cognitive reasoning, and processes visual data on a level similar to the human brain.
It is impossible for humans to monitor the tens of millions of cameras deployed throughout the world, a fact long recognized by the international security community. Security video is either used for forensic analysis after an incident has occurred, or it employs a limited-capability technology known as Video Analytics - a video-motion and object-classification-based software technology that attempts to watch video streams and then sends an alarm on specific pre-programmed events. The problem is that this legacy solution generates a great number of false alarms that effectively renders it useless in the real world.
BRS Labs has created a paradigm-shifting technology it calls Behavioral Analytics. It uses cognitive reasoning, much like the human brain, to process visual data and to identify criminal and terroristic activities. Built on a multi-patented framework of cognitive learning engines and computer vision, BRS' AISight(TM), provides the world's first fully automated, easily scalable surveillance solution that analyzes behavioral patterns, activities and scene content without the need for human training, setup, or programming.
Created by a group of premier scientists and engineers in computer vision and cognitive reasoning, the BRS Labs Behavioral Analytics platform provides exactly what is desperately needed today to actively and effectively monitor the millions of cameras trained on the world's most sensitive areas.
The system learns autonomously, and builds cognitive "memories" while continuously monitoring a scene through the "eyes" of a closed circuit television (CCTV) security camera. It sees and then registers the context of what constitutes normal behavior, and the software distinguishes and alerts on abnormal behavior without requiring any special programming, definition of rules or virtual trip lines. Providing a critical "plug-and-play" security asset, AISight is a new operational standard for video security.
BRS Launches AISight™ 2.0
HOUSTON (Sept. 21, 2009) – BRS Labs today announced the release of the latest version of its flagship product AISight™. The software is based upon BRS Labs' Behavioral Analytics™ technology, a ground-breaking video surveillance technology that leverages cognitive reasoning and processes visual data on a level similar to the human brain.
Unlike video analytics, which require users and engineers to program each camera and define specific objects and events to detect, Behavioral Analytics observes the scene from every camera and builds its own understanding of normal and abnormal behavior.
In some situations security personnel may want to be alerted on activities that seem normal, such as every time a person enters a secure door. AISight 2.0 gives operators the ability to issue Alert Directives™; in other words, they can instruct AISight to issue alerts on specific learned activities. By using the learned context of the camera scene, operators can gain the same capabilities of a rules-based video analytic system without having to construct zones, block out areas, or draw virtual tripwires. Because the alerts generated by Alert Directives are based on reasoning created and learned by the computer itself and are not based on rules entered by a human, the false alarms that plague rules-based video analytics are kept to a minimum.
Once an activity is observed by AISight, the operator can give AISight an Alert Directive – instructing it to always alert on any similar behavior. This new capability gives security personnel an unprecedented level of control over an analytic system – the ability to create Alert Directives based entirely upon the behavior in a scene, and not just on the motion detection of predefined objects.
“In an AISight deployment with a federal law enforcement agency involved in anti-drug initiatives, we found that Behavioral Analytics performed in every area except one. The agency needed an alert every time a vehicle pulled up to a suspected drug house. AISight alerted on dozens of anomalous activities that would not have been pre-programmed with other systems, however it was common for cars pull up to the suspect house and therefore no alerts could be generated. Now, with Alert Directives AISight is able to alert on any behavior, whether it’s anomalous or not, and to do so under the reason-based model of Behavioral Analytics as opposed to rules-based video analytics,” said Eric Eaton, CTO of BRS Labs.
Alert Directives recognize:
- Positions and locations of objects and how they behave
- High speed, low speed and quick acceleration of objects
- The manner in which objects enter, exit, start, stop, and turn in the scene
- Specific trajectories and typical paths of moving objects, and any deviations from paths
- Other anomalous behavior within the viewing area
- Alert Directives can also respond based on time of day/week/month of the event
BRS’ learning engine automatically builds a library of learned behaviors, so it has a rich contextual model of any scene being observed. “We simply put tools on top of that technology to empower the operator to direct the AISight response engine,” says Eaton, “and we are very pleased to be able to provide the Alert Directives feature to our customers.”
About BRS Labs
BRS Labs is a software development company that has created the industry’s first video surveillance behavioral analysis software that adaptively learns behavior patterns in complex environments. BRS Labs is the only company that has been able to apply computer-vision and machine-learning capabilities to video analytics, thereby greatly enhancing operator awareness and effectiveness in improving security. No human is required to define parameters for the software to recognize behavior; the software reports unusual or suspicious behaviors based on memories it has acquired through observations over time. BRS Labs was founded in November 2005 and is headquartered in Houston, Texas. The company is funded by $47 million in private equity.
###
Oh brother! I've heard the same thing coming out of credit rating agencies for years. But you know I don't think ONE of actually uses a Neural Net. And if they do I'd bet they perform pretty much like traditional models.
Do bad guys try to draw attention to themselves? Why would this work.
$$$$$$$$$$$$$
Well at least I'll give these guys credit for being good at PR:
Them - "In some situations security personnel may want to be alerted on activities that seem normal..."
-Isn't that the exact opposite of what the initial product was built to identify?
Them - "...false alarms that plague rules-based video analytics are kept to a minimum."
-Let's see an unbiased study that can measure below side by side:
1. Number of alerts on bad events:_____
2. Number of missed alerts on bad events:_____
3. Number of alerts on false bad events:______
Without verified, unbiased answers, it's just a PR story!
Final Chapter looks good!!!$$$$
You know writing things like "POP CHAMPAGNE!", "$$$$", "Final Chapter looks good $$$" implies to me that you have some insider information. RU an insider. Or just someone pretending to be an insider to prop up investor moral. or something else.
Just believe in BRS.
Its just like a religion. Just believe blindly what the wise man says, never question what your told and don't ever ask for proof of what the profit tells us (even if years have gone by since the promised land was supposed to arrive). According to this blog BRS was going to sell in 6-9 months from January and its 10 months today.
http://thedailywtf.com/Articles/Best_of_2006_0x3a__The_Virtudyne_Saga.aspx
Just an interesting story for readers about what can happen. For every upside there is a downside. This is posted for your information only. NOT IMPLYING ANYTHING ABOUT BRS! Only saying there are risk! Good luck.
(in case the link does not show "virtudyne")
btw, in case you do read the story above about "virtudyne". It is just that a STORY to illustrate the risk. I don't actually think it is true. Just an illustration of risk!!! Let me repeat that: IT IS JUST A STORY - Not real as far as I know. ALL I am saying is DEMAND FACTS. Don't believe ANYTHING someone tells you (in person or web or TV) without FACTS! Just wanted to clarify this so no brs "followers" claim I'm a "hater".
For just being a "story" that has an amazing amount of similarities to SimDesk... who founded that again?
http://www.usatoday.com/tech/news/2003-01-21-simdesk-cover_x.htm
Here is the real story....
http://blogs.chron.com/techblog/archives/2006/04/houstons_city_w.html
There's some interesting comments at the blog above. A reference from 2003 isn't much help now. How did it turn out is important. I wonder how scared MS is now about simdesk? Google Docs maybe...
I read here:
http://www.bloghouston.net/item/6996
simdesk went under. does anyone know if that is true?
they went under http://www.bloghouston.net/item/6996
the 'real story' is more PR from 5 years before SimDesk went under. From what I found it seemed like they only had one contract which they couldn't fulfill the requirements and the client dropped them and didn't pay in full.
From MS Office gaint slayer to terrorism slayer in a mere six years?
...I mean what the heck. This guy must have a brain the size of Texas.
fyi.... cut-backs at BRS Labs are coming... Let the landslide began!
Now its time for VC? Haven't we been told the whole time VC would dilute our shares and give up control and that is why BRS only wanted private investors?
"The latest cash infusion brings the company’s total amount raised since its inception in November 2005 to $47 million. BRS Labs plans to use the money to expand its sales, marketing and channel distributing. Davis says he plans to beef up the firm’s sales and marketing team by adding about 10 employees in 2010. Of the firm’s 47 current employees, only seven work in sales.
BRS Labs had initially planned to raise a total of $6 million in this latest round of funding, but when that sold out in two weeks, the company opened another $6 million round. That also closed within two weeks.
While Davis has been for the most part resistant to institutional or venture capital funds in the past, he says BRS Labs is now at a point where “it’s time to start bringing in institutional money.”
http://austin.bizjournals.com/austin/othercities/houston/stories/2009/10/05/story3.html?b=1254715200^2188211&s=industry&i=high_tech
How are cutbacks coming when they just got 12 million in funding? Where does that 12 million go?
While they finally answer these questions:
1. Number of alerts on bad events:_____
2. Number of missed alerts on bad events:_____
3. Number of alerts on false bad events:______
A bad event is anything that you would like to take steps to avoid. Without answers to these a business case can NOT be formed. I am amazed that I can't find answers for this. This isn't the 1980's where AI is relatively new. AI has been around for quite a while now and there are many, many experts in the field. If this product indeed has a secret sauce you would think I could find answers to these questions. It sure would make sales a lot easier. Simple pencil sale...but alas no luck. Has anyone found these answers?
Ray has no intentions of selling this year just . It would be in the best interest for taxes reasons but it wont be. PLAN B that is what its going into. 6 to 9 months my ass .I see VC coming in to the scene are shares getting diluted.well see I try to stay optimistic but show me the cash and stay with what was pitched to me..... just my thoughts
In my opinion, anyone who bought thinking they were going to get a huge return in 6 to 9 months is at best wildly optomistic. Sure it has happened before. Some actors/models have been discovered working at Denny's too. Is that the norm. No. You don't hear about the ones that struggle for years working at Denny's then finally give up and go back to kansas and die with nothing to their names. If it were so easy to make such a return banks would be paying a lot more for your savings dollars. Is it possible that this lives up to the hype. I guess so. I mean Isaac Newton took a vacation from his study of the universe to discover/invent calculus. So I guess Ray could slay Microsoft and now slay the security industry. I wish someone would come in and buy him out for billion so we could get his Newtonian brain working on healthcare, housing, unemployment, etc...
BRS is worth in truth whatever someone is willing to pay. Some large Company will value BRS on what they feel the technology can yield them in future revenues. I personally think BRS is worth a lot of money. But what is a lot of money? There lies the BILLION DOLLAR question. We will all find out real soon.
soon what do you consider soon ? This will go into 2010. I feel this is a billion dollar product, how can it not be.I guess im just a little impatient. Ive had my eyes on a 360 modena. Just hoping to get to drive it before the winter starts.lol
"feel", "Believe", "How can it not be"...Hello! How can you have ANY opinion WITHOUT being able to answer these:
1. Number of alerts on bad events:_____
2. Number of missed alerts on bad events:_____
3. Number of alerts on false bad events:______
at a MINIMUM you HAVE to know this. Yet without this info I still hear people repeating the same thing. It's NOT worth ANYTHING if it is NOT EFFICIENT.
Do you believe everything someone tells you? You know those commercials you see on tv that promise you a six pack just by wearing a belt and sending them some money. You know those people have something to gain by making those statements. Just a warning about believing everthing you hear.
btw, BRS is NOT WORTH "whatever someone is willing to pay". It will SELL for whatever someone is willing to pay. It is worth the NPV of it's profit. Mistakes are made ALL the time. It's even possible that past companies that some of those who are involved with BRS were even sold for more than they were WORTH. But that's just my opinion of course.
1. Number of alerts on bad events:___ 1 per 7 day cycle
2. Number of missed alerts on bad events:_____ 0
3. Number of alerts on false bad events:______ 0
Here are your long awaited answers to your questions. I hope you can move on now.
In my many years of paid data mining experience, I have NEVER, EVER seen a statistical model perform REMOTELY that good. So to claim these are actual numbers is WAY,WAY,WAY outside the realm of my experience. (I have heard claims like this from salespeople but when it came to actually demonstrating them NOT one lived up to the hype. So FOR ME, these claims do not merit consideration and I remain skeptical.)
Shocker!
common sense my friend. you are constrained by the data. what datum could possibly be a perfect indicator of bad things to come. From a computer no less...
So there are never false alerts and never missed alerts. There is no need to worry even though years have passed since the promises that the company would sell and still BRS is taking on millions in additional capital from investors.
How can you lose. Good luck!
To the never ever, way way out post. If Aisight can do what it claims then would you say that a 1Billion dollar price tag would be a deal?
On the 18th it will be one full year of fun reading these posts. My favorite is the one left of course by anonymous on Aug 12 2009 at 4:27 pm EST. Thank you all for the entertainment.
One full year. You bring up and excellent point. Isn't the title to this article "BRS Labs to shop for a banker in January, expects to sell to larger company in six to nine months"
Last time I checked a year was 12 months so we are way over what was "expected" or "promised"
August 12 Post...does make you laugh.
If Aisight can do what it claims the software would be worth 1 billion dollars +.......
I like the Aug.,12th post too. For the poster to see the software work FIRST HAND he must be pretty high-up in the company. Probably an executive v.p., director or higher. No need to worry fellow investors.
Or an investor. Many times investors see systems demoed before they invest. These are just normal people, they can get hot headed when their decisions are chalenged. I doubt an executive would post on a site like this, they've probably been threatened with their lives if they do. It was funny though.
Or anyone that works at BRS. Don't you think a sales person would need to see the product if they were going to be selling it to clients. Could also be a developer, doesn't it make sense that the people developing the product would have to see it work, test it in beta, etc.
Of course the original demos on the site appeared fake (see aug 15th post at 5:50) and when someone pointed that out in this blog they removed the fake demo and posted new samples which look exactly like Ioimage who has been around since 2000 and also has several awards.
Forget all the techincial issues about lighting, interference, etc and pretend it sees completely clearly. The underlying data would still not be able to make perfect predictions. For instance, catches someone walking around metal detector. Turns out to be employee late for work. Points out abandoned bag, turns out to be person that went to hug their mom. Alerts on sidearm turns out to be cop. If it had x-ray eyes IT STILL couldn't be perfect. e.g., alerts on electronics INSIDE a bag, turns out to be person returning seomthing to the store. All of these innocent things happen MUCH, MUCH more frequent in everyday life than bad things. It would LITERALLY have to be able to read minds to be perfect. I think Tom Cruise made a movie about that so hey maybe it is possible.
I have definately seen the claims that BRS reads minds, has X-Ray vision, and can do your laundry. You are both morons. I am glad you find this amusing.
I defininately don't find it amusing when someone claims it catches all real alerts, never misses a real alert, and doesn't alert on false events. That pretty much sounds like perfection to me. With those kinds of results it sure must make you think what the heck all the genious' on wall street were doing when they they built their models to predict default. NO model works perfectly. Far from it. Do you really think someone knows THAT much more than all the other EXPERTS in the field that have been doing this for longer time. That would imply to me that either everyone else working on this problem are idiots or these guys think on a whole new level from the rest of us or it doesn't perform like some on this forum claim. Do you have another explaintion? I'm serious. I'd be interested in hearing it.
You have now confirmed yourself as a complete Idiot!!!
"I defininately don't find it amusing when someone claims it catches all real alerts, never misses a real alert, and doesn't alert on false events."
Ha Ha Ha HA - I find you amusing if you took the result post as real.
Do you really think an expert from BRS posted the alarm results you have begged for. Give me a break.
No one from BRS would entertain your vindictive banter. They don't need to. They are not the ones playing with you (paid data mining self proclaimed expert - I.e. Clerk - give me a break) Whether it sells for 100 Million or 2 Billion, it wouldn't matter to you - you will still say it is a bad buy and it can't work because it hasn't been done before, etc. etc. etc. Thank goodness our early inventors didn't have your limited vision.
You need to get a life and stop being bitter - Life is too short to wallow in irrelevant things that you have no imapct on.
I wish you all the best and hope you find something that can be a positive inluence in our world today. Volunteering would be a great start!!!!!! GL
Here is what I find interesting. You bash people who ask analytical questions about over the top marketing claims. Somehow its their fault when someone responds to completely unbelievable claims (probably posted by your sales people, PR Company or an investor hoping they hit the lottery with BRS).
Why don't you question the lies spread about results on how well the product works. I am totally convinced its just marketing fluff and PR and that's why you say we would never give actual results. Why are the answers to simple questions about the product so secret. Its not like people are asking for the source code to the product, industry people are just curious how a new business in the industry is light years ahead of what everyone else has been doing. "its none of your business" isn't really a response. To me that says "it doesn't work like we promised our investors"
The reason BRS has given no specific data information is because this is a blog. BRS has nothing to prove to us. If the Company sells for million or billions of dollars then I guess the product works, and if it does not, well I guess the product does not work. It is really that
Typical response. (That's number 3from the aug 26th list of brs followers responses. name calling.) My arguments lay in reason. If these forums don't make a difference then why 1) Do you get so bent out of shape from simple, objective questions and 2) Why do you bother to post responses in support of BRS. I never claimed anything about the person who posted the response regarding performance. A first year graduate student could tell you the claims made under that posting are highly unlikely over any reasonable sampling window.
Question with boldness even the existence of a God; because, if there be one, he must more approve of the homage of reason, than that of blind-folded fear.
-Thomas Jefferson
BRS is a front for a ponzi scheme...research Simdesk and you'll see your proof.
Simdesk was not a ponzi scheme. By definition a ponzi operation pays off early investors with the proceeds of new new stock sales. Anyone who invested in Simdesk lost everything.
I think someone is just trying to keep the banter going. Clearly you have no idea what you are talking about. Pushing buttons are you?
Surveillance-Peddlers Push Bogus Studies
October 22, 2009
surveillance
They're watching you... but who's watching them?
Companies on the forefront of invasive and liberty-threatening surveillance systems are on the attack, paying big bucks for studies to “prove” that everyone loves being watched.
BRS Labs, a developer of technology which “reports unusual or suspicious behaviors based on memories it has acquired through [surveillance camera] observations,” paid Harris Interactive to conclude 96 percent of Americans “feel the federal government… should be able to use video surveillance in an effort to counteract terrorism” and “protect” people in public places.
The survey continues:
“Four out of five adults feel that in extreme cases, such as a terrorist attack, the government should be able to use any available means to protect citizens…”
BRS’ product, “AiSight,” is an advanced snooping tool which compiles and records human activities into patterns. Patterns deemed unusual or unacceptable can be flagged. Independent camera systems can be integrated together, easily allowing a person to be tracked from place to place.
“AiSight takes visual input from a camera, learns what activities and behaviors are typical, and generates real-time alerts when it identifies activities that are not normal… It takes in external visual input (computer vision), while its machine learning engine observes the scene, learns and recognizes behavioral patterns and responds accordingly. Surveillance is 24/7…”
Feeling safer yet?
See the actual release at Reuters:
http://www.reuters.com/article/pressRelease/idUS124764+22-Oct-2009+BW20091022
Simdesk was neither a Pozi Scheme nor a loss. They changed their name to Mezeo Software and now sell White Label Cloud Storage Solution. Doing quite well I hear.
see:
http://www.mezeo.com/
If Simdesk wasn't a loss who made money? The company had to shut their doors and only got paid 25% of their only contract?
Simdesk didn't live up to the hype (or PR/marketing) and the only contract with the city of Houston was shady. Are you saying to closed the doors and just opened up under a different name?
The point of the "Surveillance peddlers push bogus studies" is that they were paid to come up with the results BRS requested. The polling company was hired to find those results, its just more marketing fluff. Do you really think 96 out of 100 people are OK with being on video in public places. Maybe ask 10 people (that haven't invested in a video surveillance company) if they think public places should be under video surveillance and see how many agree. Should be at least 9 out of 10 agree if this study is accurate.
sound familiar?
My question to all is this. I initially put up 25k for Pre-IPO stock for a company that is in Europe and in Hong Kong. The company is initially out of Europe "supposedly". The problem here is that I went through a middle man in which it seems every week this company is coming up with another reason to not list. The middle man here doesn't have a sense of urgency or care about my money or everyone elses. Because pressure was mounting on this co to provide answers they stated that as soon as the company would go public they would liquidate. Now not to long afterwards the company in europe is saying that anyone who invested over 100k needs to fill out a form for the frankfurt stock exchange. My problem here is that these people are still in the middle mans organization yet the middle men here "emailed" them but are not actively pushing them to get this form in. One of the Pre-IPO fund raisers is supposed who basically sold us on this Pre-IPO stock is also calling these guys. Does this sound like i've just lost 25k? Is there anything I can do to get my money back? I did sign a legal document to these idiots awhile back which I could've kicked myself for not getting a lawer in the beginning. I am just wondering if these guys who I went through are professional con men or even this company in europe. I need some good advice guys and how and what I can do. I welcome all responses.
a course of action...
The short answer is that you may be involved in a scam. However, depending on what people and companies were involved you may be able to recover against the 'middle man' as you call him. This is one of the areas in which I focus my practice and with more information from you I may be able to give you a better idea on you chances of recovery.
Welcome to the club of small "private" investors. I have been tracking a group for almost 15 years and with searching for laws and accountability I have found a "spaghetti bowl". There are laws and the SEC and I see a lot of passes. I was accurate when I described the SEC as a library with books no one reads! At least compliance just files the stuff and that is end of story. The culprit I have been researching calls it "wriggle room". I heard him say that! I also heard him say: "We have to stop taking those $10,000 investors; they complain. The $25,000 investors don't complain". How is that for integrity; and this guy is an attorney. All these small cap venture capital guys are or work with attorneys. Another thing I overheard was that there is not enough in commission for brokers to make anything...so companies (The next better mouse trap) don't "go public". That leaves their Rolodex guys circulating up and down a coast hitting up private investors. It is disgusting. It is shocking. And nobody has helped me do anything about the things done personally to me such as what I would call Identity theft. Hire an attorney, see if you can keep it state rather than Federal. You may be out of luck unless you can find other investors but they keep the shareholder lists under wraps. Hope you find a way. Oh, another thing I heard this guy say: "They don't know who to complain to". Sound right?
A ponzi scheme doesn't alway describe a single stock...often, it is a process of buying and selling "shell companies" to accomplish the same goal--for example:
WHAT IS A PONZI SCHEME?
According to SEC filing dated October 30, 2006 - Sidney D. "Trip" Camper was fired from Elandia Inc. when the Ahkoy family fell victim to investment fraud headed by Elandia's Allen Stanford and Trip Camper. Forced to resign by Allen Stanford himself (see SEC link below), Trip Camper moved on to his next victim, a private company in Los Angeles. In true School of Stanford form, Trip Camper promised to take the private company public. Instead, Trip Camper recruited a new partner in crime, Ed Berkhof and together they formed a "shell" holding company, milked the private company of thousands of dollars, illegally obtained company stock and pretended to be the company owners- and owners of all the assets. By pretending to own the company's assets, Trip Camper and Ed Berkhof worked to dupe private investors out of capitol that they used to pay themselves and their creditors. This is a Ponzi Scheme. Instead of taking the company public, Trip Camper and Ed Berkhof spent thousands of dollars, took a trip to London on a company American Express card, performed a hostile takeover, and ruined the honest, profitable company. Since then, the Ahkoy family is suing Elandia Inc., Allen Stanford is in Federal prison, and the FBI is seeking out Allen Stanford's network of thieves. Don't let this happen to you.
by the way, the people you bought your shares from are unlicensed and unregistered "salesmen"...no connection to the SEC or NASD...so where is the accountability?
The U.S. Securities and Exchange Commission (SEC) has charged eight people, Thomas R. Fry, Bevan J. Wilde, Gary W. Hansen, Michael G. Butcher, James B. Mooring, David G. Bartholomew, and Michael W. Averett (the defendants), with operating a Ponzi scheme headquartered in Utah and Colorado. The Commission claims that the defendants raised $41 million by selling ”high-yield promissory notes” to more than 150 investors in several states.
According to the complaint, around $18 million of the funds raised by Fry and the Promoters was funneled by Fry into a Ponzi scheme run by Jeffrey L. Mowen, a convicted felon and securities law recidivist, who misappropriated over $8 million of these funds. The complaint also alleges that Fry and the Promoters knowingly or recklessly distributed private placement memoranda to investors that misrepresented the level of their due diligence and falsely stated that all the funds were being used to make collateralized domestic real estate loans and domestic small business loans. The complaint further alleges that, Fry, who dealt directly with Mowen, committed fraud by failing to disclose Mowen’s involvement and criminal history to the Promoters and investors. According to the complaint, Fry and the Promoters also committed registration violations with respect to the securities offerings and their status as brokers.
This case points out a trend in financial frauds. Having promised large returns, the promoters of an investment turn to someone else who promises he can deliver those returns. One scam artist falls victim to another, taking hundreds of retirements down the drain. I am serving as court-appointed receiver in two SEC cases that fit that pattern. More than any other case we have posted about recently, this one points out the necessity of professional investor protection. Only someone who has swum in the ocean of scam artists has any hope of recognizing the hints of fraud. To protect what you worked so hard to save, do what banks do when they move cash: hire professional protection.
if you are an investor and you are so scared or so confident this is a scam than why don't you question ray and call him out on the next conference call. I'd be curious to his response. All this blogging stuf is just a bunch of bs and none of us will really know. This is why it was a risk to invest.....
Sad as an investor the feeling of not knowing. To have to search the internet for answers or lack of answers. I read some of the investors concerns. And myself share there concerns 60k almost 2yrs ago and I still don't see a light at the tunnel,last conference call was the same as June's .My financial planner has kicked my ass about this from day one . But so be it whats done is done. But I ask why hasn't anybody voiced there concern to Ray when he opens up questions at the end of his calls.Probally the same reasons why I haven't, which for me was wanting to believe. Nov.18th If all is the same, and me personally I feel Ray is going with his "plan B "and keeping the company and then open another round of funding first of the year, I sure hope i am wrong but there is not a damn thing we can do. I will speak my concerns at the next conference call and i hope others will to .... Good luck
"Trust but verify" - Ronald Reagan, et al
I wouldn't give my OWN BROTHER 50K without demanding regular detailed accountability, input into future decisions, restrictions on actions that devalue my 50K, while neither evaluating the product myself nor having an unbiased person evaluate the product for me, based on his word that he, while working in an industry for just a few years has created a REVOLUTIONARY product approaching science fiction type performance while others working many, many years have failed.
Now that situation would just be CRAZY!
brs labs consists of a secretarial answering service and a po box.
Please post your name so we can all say "you" told us all when it fails. I hate to say anonymous was right. I'll post descretely so nobody knows what fool invested so stupidly.
I am confused! Why is Ray paying for public opinion polls? Does anyone know what the strategy is about.
That would be Mister Anonymous to you.
I have been reading this blog for over two months and it is time for people to stop complaining about BRS taking their money.
I was approached with the 60,000 investment opportunity and chose not to invest. There was plenty of info on the internet that gave the backgrounds of the officers with the successes and losses they have had in their past businesses.
I chose not to invest, some potential investors could have looked at the same info and thought it was a good opportunity.
This is not rocket science take the risk with a start up company and you will probably lose all of your money, if it happens to be a great product you may get your money back and beat the market which at the time was getting killed at 30- 40% losses.
Next time put your money in CD's and be safe or take the chance to hit a home run.
Would need to verify, but heard that
they just cut several staff and reorganized.
"Simdesk was not a ponzi scheme. By definition a ponzi operation pays off early investors with the proceeds of new new stock sales. Anyone who invested in Simdesk lost everything"
Some people who invested in simdesk received brs stocks. I know this for a fact... Maybe there should be an audit of brs lab?
Lets see buy millions in assets with company money then sell the assets and keep the revenue for himself..
I invested in SimDesk and BRSLabs. Nothing was given to me. I still have hope that SimDesk will pull themselves up (they are now called Mezeo Software). Ray left SimDesk in 2005 to start BRS. I was at the original investment meeting with 10 other guys that also invested in SimDesk. We all invested the original seed money for BRS. While Ray ran Simdesk it ran very well. He, Himself sold the first 2 contracts totaling over $14 million. BRS is Not SimDesk, we have a market ready to buy our product and the people are in place to take it to the next level. I know you competitors that play on this blog want to portray BRS in a certain light so you can better your own failing enterprises, but I know the truth, I was there when SimDesk was started, and I was there when BRS was started. I'm not a day trader, I never expected to get rich overnight, I know a good investment when I see it. And I see one here!
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