Wednesday, August 18, 2004

Blue smoke, mirrors and excuses ...

Seems to be ALL that SVC Financial has to show.

While CEO Chris Haigh claims to have a working product, he is incapable of showing it to anyone outside the company. I'd say that means he does NOT have the working product he claims.

He also claims he has 12 "customers." But he won't name them. Could that be because no customers exist? And by customer, I mean someone using the system for "REVENUES" that SVCX would get a share of.

Pocketpass had paying customers a year ago -- Wine Market Report and Olive Software/Active paper. And we had many others evaluating it because a year ago, anybody with a web connection could download Tibanna and use it ... it was a complete product ... rules, wrapper and payment processing system. Tibanna was its own sales vehicle until Transfund choked it to death.

Further, from what I have been able to tell, the "Mazarin" product sounds like an application tool kit rather than a product that is ready-to-use "out of the box" as Tibanna was. Sure, the first tibanna was for .pdf, but each supported format was going to cost $5K or less.

Tibanna's target market was not simply the technically adept (which is what you have to use an apptoolkit) but to expand far, far beyond that and migrate to the content creator.

If what I have heard is true, then it is VERY dismaying, because there are other companies offering toolkits ... nobody needs another tool kit ... and the transaction processing side is the CORE of the system and the profit model. without the back-end, the product is useless.

So, there's no credible proof of real customers and nothing other than a few "strategic alliances" that are just hype.


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