An Innovative Technology Leader Focused On Market Leadership & Sustained Shareholder Value

CIC, located in Redwood Shores, CA was founded in 1981 in conjunction with Stanford Research Institute (SRI), based on research conducted by SRI on proprietary pattern recognition technologies. CIC focused on further research and development of the technology, including multi-lingual handwriting recognition, digital ink compression, biometric signature verification and electronic signature technologies.

For the first seventeen years, the Company focused primarily on text entry applications, utilizing CIC developed pen enabled tablets and handwriting recognition software, to bypass the keyboard and provide direct input to desktop computers in the Asian market. This effort involved establishing joint ventures in China and in Japan. In 1997, the Company addressed the US market with a major effort to sell through retail channels. During this period, the Company expanded on and developed a wealth of new technology including handwriting recognition for handheld devices, biometric signature verification and ink compression. The direct text entry to desktop PC market, however, was not developing acceptable levels of revenue.

In January 1998, the Company implemented a plan focused on software only, leveraging key CIC technologies including handwriting recognition and biometric signature verification aimed at high potential nearer term emerging market opportunities.

The initial strategy introduced text entry software (Jot) as an OEM embed on handheld devices such as PDAs and as a direct customer download via CIC.com. This strategy accelerated sales growth, driven by a series of OEM wins whereby Jot was chosen/embed by leading OEMs including Microsoft, on the new CE handheld computer device, and Ericsson on the world’s first smartphone (R380). In parallel, CIC sold Jot directly to Palm Pilot owners via the Internet as a replacement for Graffiti and an upgrade version to Microsoft CE based PDA owners. CIC emerged as the leading provider of text entry software and as a result CIC’s share price increased from under $1 to nearly $13 in 2000 with well over a billion dollars in investor profits.

By early 2001, however, handheld device shipments of both PDAs and cell phones began the sharp decline, driven by the economic downturn, negatively impacted by the dot com bubble burst, and then exacerbated by the tragic events of 9/11/01.

In the face of this adversity, the Company intensified its focus on the emerging eSignature market leveraging CIC’s biometric signature verification technology and acquiring PenOp in late 2000 significantly strengthening CIC’s Intellectual Property. These CIC technologies enabled the significant benefits of the paperless environment. The key objective was to close large scale deployments with Industry leading early adopters in the financial services industry. This successful effort provided CIC with the benefit of direct valuable feedback on desired product functionality and established the basis for positive references from highly respected leaders.

Since the inception of the eSignature market, triggered by the passing of the eSign Law in late 2000, CIC has emerged as the dominant player and market share leader acknowledged by several studies. Most recently, CIC was the recipient of the 2007 Frost & Sullivan Market leadership Award for the Worldwide Dynamic Signature Verification Market. Although the Company has an installed base of well over 400 customers worldwide, with significant follow on revenue potential, the major factor in its leadership position derives from wins with the Industry leading early adopters in the financial services industry such as AIG/AG, Charles Schwab, Nationwide Bank (UK), Prudential, Snap-On Credit, and Wells Fargo, now all successfully deployed. These respected top tier leaders, with large successful deployments, are now functioning as positive references validating CIC technology and the proven ROI.

The reference accounts are now the driving force in accelerating adoption of CIC eSignature technology to the much larger mainstream market of financial institutions and a key factor in the adoption of CIC technology by large enterprise solutions providers (ISVs & VARs) as an integral part of the larger scale document, workflow & process automation solutions that these companies provide. CIC’s ISV & VAR partners include Adobe, Ebix/Finetre, eCom Asia, Guardian Documents, LSI/Fidelity National Info., Integrasys/Fiserv, and Oracle.

CIC is proud of its history as an acknowledged innovative technology leader highly focused on maximizing customer value to establish and maintain market leadership in emerging high potential markets. Despite the challenges of emerging businesses, CIC has maintained its position as the leading provider of biometric signature verification and a leading provider of eSignature solutions. The Company believes it is well positioned to lead the eSignature market into the take-off stage and to deliver on its objective of rewarding its shareholders, once again, with significant shareholder profits and increasing shareholder value.