SOURCE: iWallet Corporation

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October 21, 2014 12:05 ET

iWallet CEO Releases Letter to Potential Shareholders

SAN DIEGO, CA--(Marketwired - October 21, 2014) - iWallet Corporation (OTCQB: IWAL), the secure luxury techcessories company, released a letter from Jack Chadsey, Chief Executive Officer, to potential shareholders:

Dear Potential Stockholders,

Thank you for considering investing your capital in our company.

Chances are, you don't think twice about the wallet in your pocket or purse, as the act of carrying it is so instinctive and almost automatically unobtrusive that you hardly realize that you're carrying it. But when you consider just how practical it is to your daily routine, you realize why it has been around for ages, in one form or another. 

When founder Steve Cabouli's wallet was stolen in a crowded airport -- along with his identity -- he realized first-hand just how vulnerable they are to loss, theft and "hacking," and he set out to give the centuries-old accessory a complete overhaul.

The result? The company's flagship iWallet debuted in 2009 to media and consumer acclaim, filling a seismic gap in the personal accessories market for a secure, yet style-conscious solution.

At iWallet, we constantly seek innovative opportunities to transform everyday accessories into smart "techcessories," offering consumers safe havens that utilize space-age materials, smartphone-connected security and fingerprint biometric identification to upgrade the protection of their precious cash, credit cards, passports and other valuable items.

Today, the iWallet name has become synonymous with exceptional craftsmanship, advanced durable materials, luxury design elements and security innovations. And since the introduction of iWallet, the company has exploited its robust patent and trademark portfolio to gain a leadership position in the emerging secure, luxury techcessories market.

Licensed by Apple Inc. as an official Accessory Developer, iWallet is a registered trademark in the United States and its global patent footprint is quickly continuing to expand. 

Focused on Driving Strong Organic Growth While Aggressively Augmenting Income Statement Accretion with M&A Opportunities

After five years of hard work, investment, prudent risk-taking and robust product pipeline introductions driving organic growth, iWallet has grown into a company uniquely positioned at the intersection of technology and luxury goods, with the ability to enhance its financial position with strong strategic merger and acquisition opportunities.

Adopting an aggressive mergers and acquisitions strategy not only broadens the company's opportunities and influence at this particular intersection of industries -- it also supplements any apertures between product releases. The iWallet team plans to enthusiastically seek out acquisition targets in the burgeoning luxury and security conscious accessories marketplace that are compatible with our long-term goals.

Pushing Accessories Innovation Forward

We are not only keeping pace with technological and market changes -- we are pushing the boundaries with the next generation of products. 

Our organic growth strategy is driven by an array of products built on the foundation of success of our first generation iWallet, thanks in part to lucrative partnerships with luxury global retailers and co-branding agreements with industry giants.

As technology continues to change at an accelerating pace, we are constantly innovating and modifying our products to maintain our position as a leader in next generation luxury techcessories. 

For that reason, we are focused on the further development of our robust patent and trademark portfolio in the growing biometric and personal data security market, quickly approaching economies of scale and fulfilling standing orders from global luxury retailers.

Exciting new horizons lie before us as our portfolio expands, as a number of product announcements and updates are in the pipeline for early 2015. In January at the high-profile Consumer Electronics Show, iWallet will introduce the iPassport to global travelers, offering consumers the opportunity to elevate their fashion quotient while protecting their passport with the improved fingerprint biometric locking, RFID-blocking, and Bluetooth™-enabled applications. Perfect for today's traveler, the iPassport will also feature a striking carbon fiber design and a spacious main compartment with ample room for essential travel documents and credit cards.

With standing orders in hand from major global retailers, the new iPassport will have the following features:

Biometric Lock 
iPassport integrates a highly reliable biometric touch sensor for identity verification. Silicon fingerprint capture technology, with a capture area of 10.4 x 14.4mm, provides high-quality fingerprint images that deliver fast, accurate and reliable results.

Bluetooth™ 4.0 Smart Tethering Technology 
Compatible with the most popular smart devices (iOS, Android, Windows Phone), iPassport's Bluetooth 4.0 SMART tethering function sounds an alarm when one of the devices leaves a pre-defined geographic perimeter.

RFID Protection 
RFID (Radio Frequency Identification) tags are now being placed in U.S. Passports, credit cards and other forms of identification. iPassport protects your sensitive embedded information from hackers using discreet scanners.

Lithium-Ion Battery
The iPassport features a high-performance, lightweight 900mA lithium-ion battery that charges faster and lasts longer than your average battery. A once a month charge via a standard Micro-USB charger is all that is needed. 

Market Opportunity: The Antidote to Mobile Money Trepidation and International Computer Hackers

This month, Apple debuted two new iPhones that include Near Field Communication (NFC) for wireless payments and joined a long list of illustrious want-to-be virtual wallet makers.

While NFC Payments have been around for some time, widespread adoption of digital wallet payments has been slow by both retailers and consumers.

Why? Technology is certainly not the problem -- it's human hesitation and more importantly security threats. 

Mobile payments reached $235 billion last year, but $15 trillion was transacted the old fashioned way -- with cash and credit cards.

According to a recent PwC report, fewer than half of people are comfortable using a mobile wallet, worrying most about their liability if the phone is lost, stolen or otherwise compromised, the safety of cash or highly personal information such as a social security card and the potential for their smartphone to become a greater target of theft.

With major flaws found in 90 percent of the top mobile banking apps and credit card breaches occurring in record numbers, consumers are in search of products that will protect their personal and financial information in a secure environment.

As a result, savvy consumers are increasingly opting to carry iWallet, our traditional accessory with the latest security features, in order to protect their personal and payment data -- including cash -- by keeping it at their side, not stored on a vulnerable server or a phone.

With personal identity theft leading to financial losses of around $25 billion annually, $10 billion more than losses attributed to all other property crimes, consumers are seeking out ways to secure their most important possession, their identity.

And in today's high-tech world, consumers are vulnerable to theft without even losing a wallet, as electronic pickpocketing utilizes RFID scanning through airwaves to steal sensitive information.

Amidst a growing market for wearable tech and (iOT) the internet of things, and a myriad of roadblocks hindering widespread mobile payment adoption by consumers, iWallet has carved out a niche for personal secure accessories with a high-tech twist. The company is strategically positioned to lead the way in luxury techcessories that protect against emerging security threats while also providing customers an undeniably fashionable experience.

Formation of a Strong Team

As CEO, I have recently taken over the helm at iWallet to target the impressive demand growth in the techcessories market. My retail career includes senior executive positions with premier retailers, including May Department Stores Company, Kohl's, Dayton Hudson, Target and Sunglass Hut International, where as President and CEO, I led the company through an IPO and major international expansion. Since leaving Sunglass Hut, I have been involved in the private retail sector, providing equity capital, board representation and operating management expertise to specialty retailers.

I am pleased to report that iWallet is executing well, innovating faster than ever, and investing to enhance the customer experience. We are confident that we have the right strategy to drive growth and build shareholder value for years to come, and we have recently bolstered our infrastructure to support our aggressive growth plans with the addition of several key team members.

Our Board of Directors now includes Charles Ng, VP of Sales at NEXT Biometrics, the former North American Director of Sales for Fingerprint Cards and Sales Director for Authentec, a biometric fingerprint technology; Anthony Durkacz, EVP of First Republic Capital Corporation, an investment firm, and Carl Rosen, former COO of Bulova, an international consumer luxury goods company. On our management team, we have added Robert Mos, head engineer, and Orlando Calle, CMO, formerly with Xerox and Microsoft, to aid in building out our three-pronged sales strategy of co-branding opportunities, attracting additional retail partners and reaching consumers directly online with a new web retail portal.

iWallet's newly invigorated team, alongside company founder and visionary, Steve Cabouli, is poised to usher in a new generation of smart techcessories, and we are committed to working toward the iWallet's numerous product offerings of tomorrow.

I would like to thank you for considering ownership in iWallet. If you're thinking about investing, hopefully it's because, like me, you believe that iWallet Corp. is uniquely positioned to usher in a new era of innovative techcessories, combining the latest in security innovation with the latest fashion trends like I did with Sunglass Hut. 

Jack Chadsey
CEO
iWallet Corp.

About iWallet

Headquartered in San Diego, California, iWallet (www.iwalletusa.com) is a secure, luxury techcessories company, focused on its robust patent and trademark portfolio in the growing biometric market and combining the latest security features with luxury appointments. iWallet is licensed by Apple Inc. as an official Accessory Developer.

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information contained in this press release including such forward-looking statements.

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