Good day and welcome everyone. Thank you for joining us today for the 2015 Third Quarter Conference Call to discuss Intellicheck Mobilisa’s results for the fiscal quarter ending September 30, 2015. My name is Mellissa and I will be your operator today. In moment I will call upon Intellicheck’s CEO Dr. Bill Roof who will lead today’s call and introduce the members of the Intellicheck Mobilisa’s management team who will be participating in today’s conference call. Following the management’s prepared remarks we will open the call up for questions. Before I turn the call over to management, I would take a few minutes to read the forward-looking statement. Certain statements in this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. When used in this conference call, words such as will, believe, expect, anticipate, encourage and similar expressions as they relate to the Company or its management, as well as assumptions made by and information currently available to the Company's management, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs about future events. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances, and the Company undertakes no obligation to and expressly disclaims any obligation to update or alter its forward-looking statements whether as a result of such changes, new information, subsequent events or otherwise. Additional information concerning forward-looking statements is contained under the heading of Risk Factors listed from time to time in the Company's filings within the Securities and Exchange Commission. Management will use the financial term adjusted EBITDA in today’s call. Please refer to the Company’s press release issued this morning for further definition of in context for use of this term. I would now like to turn the call over to Dr. Bill Roof, Intellicheck Mobilisa's Chief Executive Officer. Dr. Roof.

Good day and welcome to the Intellicheck Mobilisa Q3 2015 earnings call. Today we will present corporate earnings information for the quarter ending September 30, 2015. After our prepared remarks, we will answer questions from shareholders. Our Chief Financial Officer, Bill White will now review the Q3 2015 financial results. Bill?

Thank you, Bill and a good day to our shareholders, guests and listeners. I’d like to discuss some of the financial information that was contained in our press release for the third quarter ending September 30, 2015 which we released this morning. We anticipate that our quarterly report on Form 10-Q will be filed with the SEC this afternoon. Revenues for the third quarter ending September 30, 2015 decreased 31.7% to $2.199 million compared to $3.218 million in the same period of the previous year. During the quarter, the Company sold its non-core wireless assets that accounted for $24,000 of third quarter revenue versus $741,000 in the same period last year. Excluding the revenue generated from the wireless division from both periods, sales were down approximately 12% for the third quarter. Identity System revenues during the quarter were driven by sales in the banking and telecom markets that was more than offset by a decline in government bookings. The Company’s booked orders for the three months ending September 30, 2015 decreased 34% to $2.036 million compared to $3.079 million for the same period in 2014. Excluding the $418,000 in wireless bookings from the prior year, the Company’s booked orders were down 24% for the third quarter. Gross profit was $1.396 million for the quarter compared to $2.016 million for the same quarter last year. Although our gross profit dollars decreased due to the lower sales year-over-year our gross margin improved 90 basis points to 63.5% of revenues versus 62.6% of revenues in the third quarter of 2014. The gross margin improvement was driven by higher margins on Defense ID sales. Operating expenses, which consists of selling, G&A and research and development expenses increased 64% to $2.775 million for the three months ending September 30, 2015 from $1.688 million for the…

Thank you, Bill. We’re optimistic about our third quarter progress that demonstrates our focus on our core identity business and on making our business more reliable and predictable from quarter-to-quarter. As noted in our press release, our commercial identity based business was up 24% in the third quarter this year versus last year. This means that the higher margins reduced from that business provide more working capital for the Company and at the lower margin unpredictable business such as wireless should eventually become marginalized. We believe that we’re on plan and that our turnaround strategy is working. As we move towards our strategic goal of market leadership with world class products and sustained profitability. We’re beginning to see the results of our detailed planning and hard work over the past 12 months. Our two newest products Age ID and Law ID are completing initial pilots and numerous locations throughout the country. And we look forward to our customers signing contracts that convert from pilot to revenue generating business. We’re evolving our products in all of our vertical markets to add compelling features and to develop strategies that provide strong barriers to entry for the competition. As in previous addresses to our shareholders, I will focus this presentation on five main areas and talk about progress in each area. Those areas are resources, markets, products, processes and intellectual property. Resources, we’re executing our strategic plan, management believes that we’re well capitalized to execute this plan and we’re beginning to see the results of new financial models that focus on high margin recurring revenue business. Our management team is sharply focused on maximizing internal effectiveness and product value to our customers. We have right sized the company and are identifying additional ways to reduce expenses, while we continue to build upon operational…

Thank you. [Operator Instructions] Thank you. Our first question comes from the line of Tom Mcguire, Private Investor. Please proceed with your question.

Hi, good day gentlemen and thanks for the run down. It was really helpful. I have a few questions. My first one is, I know you’ve made progress and your optimism is very, very apparent but we on the outside, we don’t see the sales funnels or your pipeline and we see the press releases when they come. But I’m wondering, when do we see the progress you’re making in the income statement. When does it become apparent that this is happening, this is taking shape. I know it’s a long machinery process, but is that something we should be seeing in income statement over the next few quarters or what.

Yes, hi, this is Bill. Thank you for your question. On our plan to generate recurring predictable revenues now since I got here about a year about and I would expect to see the fruits of this work in 2016, sometime after the middle of the year.

Okay. Okay, thank you. The second question about your IP, how valuable is your IP and when you encounter competitors in the marketplace. Do you see them infringing on your IP or some competitors going around your IP, would you just give me a kind of the layout there?

Well in think it was a little both, what we’re really seeing is a lot of infringements there. And this infringement has been going on for a long time, as far as the value of the IP goes its really, really hard to get a reputable firm to take a case contingent unless they understand to value other. So they had to – they did a lot of due diligence, we spent a lot of time with lawyers determining the value of the IP of the portfolio and whether or not it was defensible in court. We’ve been very fortunate to find a contingent fee. So I think that kind of speaks for the value of the IP portfolio, as far as competition to us we find that most of the folks in this space we believe are infringing and that’s one of the reasons we spent so much time and effort finding a contingent firm in laying some ground work in the legal system.

Okay, so because your IP is so valuable. Do you worry about having one of these infringers so much bigger, stronger financial company just going out and trying to make an unwanted take over of you, because your enterprise values next to nothing.

We certainly are aware of that potential we’ve discussed it among the directors and officers and legal team, but at this point right now, it’s not a concern.

Okay. And then regarding the police force pilot, do you have three up and running or is just one up and running. And other police departments will they require pilots, or will they hear by mouth this a great product and maybe you just - you don’t have to do pilots with them, why don’t you just kind of tell me your thoughts there.

Sure, we have one up and running, we’re in the implementation phase of more. Typically, we’re the branded product, when we are the first to market with it and as an innovative product, we the innovators that are - the real cutting edge of the purchasers, we’ll ask for pilots when something is technical. And we expect pilots to go on for a while, but we doing a few things we’re shortening the pilots and at some points in the near future we expect to be able to just go in with the sale then not have to do a pilot. What you really need is reference accounts and all of our pilots had agreed to be reference accounts let out the police officers come and watch them work, go on the street with them and so forth. And once we get some hands on with that you won’t need the pilots anymore.

Okay, my last question I think, if you’re taking these it’s been about a years since you’ve changed your business plan from hardware to software-as-a-service. Two questions, are you aware you want to be after a year - do you think you’ve accomplished what you thought [indiscernible] are you satisfied where you are. And secondly, have you gotten any blow back from some of your already in-house customers concerning the change in the model.

Yes, that’s a great question. We’re on plan and we’re excited that we’re on plan. So we are meeting our own expectations and hopefully we’ve able to articulate those to the shareholders well enough, so that they can see we’re on plan. Blowback, we’re absolutely getting blowback from customers who have considering their enterprise licensees for years and years with virtually no recurring revenue. But we have been heading some really good success and I want to thank, Bob Williamsen for his efforts in the team. And converting our enterprise customers to the SaaS model and we’ve been able to do that on a number of occasions and we’re in negotiations with some of our largest customers right now to do exactly that. And we’re having success, let’s say it’s something that we have to take customer by customer. We expect that some customers did not want to convert to the SaaS model, they want to keep their perpetual enterprise license with no recurring revenue. They will deal with those on a one line one basis, but overall we’re heading very good success.

Okay. Thanks a lot, gentlemen. Again it was a good call.

Thank you.

Thank you. [Operator Instructions] Our next question comes from the line of Jack Morbeck with First Washington Corp. Please proceed with your question.

Bill, this is Jack. A long time back, in one of our discussions, we talked a little bit about capital line of new markets, et cetera. Can you bring us at an update on where you stand with that capital one another providers et cetera? Thank you.

Hey, thanks, Jack. Good morning. We’ve been working with capital one on several customers calls, leading markets, Helzberg Diamond with a capital one customer as well and we’re continuing to factor then. We believe this is a good product for them to rollout to their entire merchant service group. We’re having great success in the customers that we’ve implemented with them. And so we’re continued discussions to roll that out to all their merchants Jack, at this point we’ve got several customers that we’ve already done so forth.

Tom asked the question relative to – when you thought you might bring some of these pilots, I guess in our side situation, you really believe, we don’t think we will see any meaningful contracts before the middle of the year or I just want to understand that.

We’re going to see meaningful contracts before the middle of the year and we’re going to see the pilots go away. Right now, we’re doing 90-day pilot, that’s an entire quarter. So that moves our revenues out of quarter, but as we bring those in and get rid of the pilots, we’re certainly going to have meaningful contracts before the middle of the year, as when they start to generate revenue that is the issue. If we have a pilot the revenue moves up 90-days, if we don’t have a pilot, we over than 90-days. And so our goal is to get enough reference to clinic that where we don’t need pilots anymore. We’ll be able to generate revenues in immediately it’s installed.

Okay. I think personally – the contract I know one that we – I guess Tom’s question had to do with income statement, but contracts will be very important. So thank you for your answer.

Thank you. We understand the importance of the contracts and we expect that where – that’s we’re on schedule we’re start to see those signed.

Thank you.

Thank you. Ladies and gentlemen, we’ve come to the end of our time for questions. I’d like to turn the floor back to management for any final concluding remarks.

We have to thank everyone for joining us today, and reiterate that we believe we’re on schedule. We have a strong team here. We have a support of Board of Directors as I mentioned they attend competition with us and applied our expertise to help the Company. We’re moving forward. We’re on schedule and we look forward to good announcements to you in the future. Thank you very much.

Thank you. This concludes today’s teleconference. You may now disconnect your lines at this time. Thank you for your participation.