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Unico American Corporation Reports Second Quarter 2019 Financial Results

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CALABASAS, Calif.–(BUSINESS WIRE)–Unico American Corporation (NASDAQ: UNAM) (“Unico,” the “Company”) announced today its consolidated financial results for the three and six months ended June 30, 2019. For the three months ended June 30, 2019, net loss was $276,677 ($0.05 diluted loss per share) compared to net income of $168,297 ($0.03 diluted income per share) for the three months ended June 30, 2018. For the six months ended June 30, 2019, net loss was $947,751 ($0.18 diluted loss per share) compared to net loss of $2,038,955 ($0.38 diluted loss per share) for the six months ended June 30, 2018. Book value per share was $10.72 and $10.54 at June 30, 2019, and December 31, 2018, respectively.

Results of Operations

 

Three Months Ended June 30

 

 

 

 

 

Increase (Decrease)

 

2019

 

2018

 

$

 

%

 

 

 

 

 

Direct written premium

$

9,454,402

$

7,786,199

$

1,668,203

 

21

%

Net investment income

$

530,747

$

452,606

$

78,141

 

17

%

Gross commission and fees

$

527,825

$

671,449

$

(143,624

)

(21

)%

Losses and loss adjustment expenses

$

5,058,951

$

4,929,203

$

129,748

 

3

%

Policy acquisition costs

$

1,289,481

$

1,515,476

$

(225,995

)

(15

)%

The increase in direct written premium during the three months ended June 30, 2019, was due primarily to growth in the Transportation underwriting vertical for Crusader Insurance Company (“Crusader”), the Company’s wholly owned subsidiary.

The increase in net investment income during the three months ended June 30, 2019, was due primarily to an increase in the yield on average invested assets.

The decrease in gross commission and fees during the three months ended June 30, 2019, was due primarily to decreases in policy fee income, resulting from declining policy counts, and in health insurance program commission income.

The increase in loss and loss adjustment expenses during the three months ended June 30, 2019, was due primarily to higher frequency and severity of Transportation liability claims and higher severity of Food, Beverage & Entertainment liability claims for insured events of current year.

The decrease in policy acquisition costs during the three months ended June 30, 2019, was due primarily to a decrease in net earned premium. The ratio of policy acquisition costs to net earned premium decreased slightly from the three months ended June 30, 2018, to the three months ended June 30, 2019.

 

Six Months Ended June 30

 

 

 

 

 

Increase (Decrease)

 

2019

 

2018

 

$

 

%

 

 

 

 

 

Direct written premium

$

17,983,583

$

16,442,342

$

1,541,241

 

9

%

Net investment income

$

1,063,384

$

897,404

$

165,980

 

18

%

Gross commission and fees

$

1,075,270

$

1,278,106

$

(202,836

)

(16

)%

Losses and loss adjustment expenses

$

10,213,394

$

12,730,960

$

(2,517,566

)

(20

)%

Policy acquisition costs

$

2,376,194

$

3,136,981

$

(760,787

)

(24

)%

The increase in direct written premium during the six months ended June 30, 2019, was due primarily to growth in the Transportation underwriting vertical for Crusader.

The increase in net investment income during the six months ended June 30, 2019, was due primarily to an increase in the yield on average invested assets.

The decrease in gross commission and fees during the six months ended June 30, 2019, was due primarily to decreases in policy fee income, resulting from declining policy counts, and in health insurance program commission income.

The decrease in loss and loss adjustment expenses during the six months ended June 30, 2019, was due primarily to lower frequency and severity of Apartments & Commercial Buildings and Transportation liability claims for insured events of prior years.

The decrease in policy acquisition costs during the six months ended June 30, 2019, was due primarily to a decrease in net earned premium. The ratio of policy acquisition costs to net earned premium decreased slightly from the six months ended June 30, 2018, to the six months ended June 30, 2019.

Management Commentary

“We posted a modest loss for the quarter in part due to the lower net earned premium associated with our lower direct written premium in 2018,” said Cary L. Cheldin, Unico’s President and Chief Executive Officer.

“On a positive note, our direct written premium grew 21% during this quarter, compared to the same period of 2018, through improvements in rate adequacy and expansion of niche programs in which we see profit opportunities. We continue to believe that the renewed emphasis on underwriting discipline implemented over the past 18 months will impact our loss ratios favorably. Our investment portfolio repositioning, which started in April 2017, will be substantially complete by the end of this year, and should further contribute to our investment income and yield.”

Definitions and Non-GAAP Financial Measures

Written premium is a non-GAAP financial measure that is defined, under the statutory accounting practices prescribed or permitted by the California Department of Insurance, as the contractually determined amount charged by the insurance company to the policyholder for the effective period of the contract based on the expectation of risk, policy benefits, and expenses associated with the coverage provided by the terms of the policies. Written premium is a required statutory measure. Written premium is defined under U.S. generally accepted accounting principles (“GAAP”) in Accounting Standards Codification Topic 405, “Liabilities,” as “premiums on all policies an entity has issued in a period.” Earned premium, the most directly comparable GAAP measure to written premium, represents the portion of written premium that is recognized as income in the financial statements for the period presented and earned on a pro-rata basis over the terms of the policies. Written premium is intended to reflect production levels and is meant as supplemental information and not intended to replace earned premium. Such information should be read in conjunction with the GAAP financial results.

The following is a reconciliation of direct written premium (before premium ceded to reinsurers) to net earned premium (after premium ceded to reinsurers):

 

Three Months Ended June 30

 

Six Months Ended June 30

 

2019

 

2018

 

2019

 

2018

 

 

 

 

 

Direct written premium

$

9,454,402

 

$

7,786,199

 

$

17,983,583

 

$

16,442,342

 

Less: written premium ceded to reinsurers

(1,732,839

)

 

(1,690,611

)

 

(3,416,529

)

 

(3,442,442

)

Net written premium

 

7,721,563

 

 

6,095,588

 

 

14,567,054

 

 

12,999,900

 

Change in direct unearned premium

 

(1,200,032

)

 

1,230,382

 

 

(1,761,809

)

 

1,944,306

 

Change in ceded unearned premium

 

(3,419

)

 

36,975

 

 

(22,983

)

 

100,366

 

Net earned premium

$

6,518,112

 

$

7,362,945

 

$

12,782,262

 

$

15,044,572

 

About Unico

Headquartered in Calabasas, California, Unico is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty and health insurance through its agency subsidiaries; and through its other subsidiaries provides insurance premium financing and membership association services. Unico has conducted the majority of its operations through its subsidiary, Crusader Insurance Company, since 1985. For more information concerning Crusader Insurance Company, please visit the Crusader’s Web site at www.crusaderinsurance.com.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended (or “the Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (or “the Exchange Act”). In this context, forward-looking statements are not historical facts and include statements about the Company plans, objectives, beliefs and expectations. Forward-looking statements include statements preceded by, followed by, or that include the words “believes,” “expects,” “anticipates,” “seeks,” “plans,” “estimates,” “intends,” “projects,” “targets,” “should,” “could,” “may,” “will,” “can,” “can have,” “likely,” the negatives thereof or similar words and expressions.

Forward-looking statements are only predictions and are not guarantees of future performance. These statements are based on current expectations and assumptions involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These predictions are also affected by known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statement. Many of these factors are beyond the Company’s ability to control or predict. The Company’s actual results could differ materially from the results contemplated by these forward-looking statements due to a number of factors. Such factors include, but are not limited to, failure to meet minimum capital and surplus requirements; vulnerability to significant catastrophic property loss; a change in accounting standards issued by the Financial Accounting Standards Board; ability to adjust claims accurately; insufficiency of loss and loss adjustment expense reserves to cover future losses; changes in federal or state tax laws; ability to realize deferred tax assets; ability to accurately underwrite risks and charge adequate premium; ability to obtain reinsurance or collect from reinsurers and or losses in excess of reinsurance limits; extensive regulation and legislative changes; reliance on subsidiaries to satisfy obligations; downgrade in financial strength rating by A.M. Best; changes in interest rates; investments subject to credit, prepayment and other risks; geographic concentration; reliance on independent insurance agents and brokers; insufficient reserve for doubtful accounts; litigation; enforceability of exclusions and limitations in policies; reliance on information technology systems; ability to prevent or detect acts of fraud with disclosure controls and procedures; change in general economic conditions; dependence on key personnel; ability to attract, develop and retain employees and maintain appropriate staffing levels; insolvency, financial difficulties, or default in performance of obligations by parties with significant contracts or relationships; ability to effectively compete; maximization of long-term value and no focus on short-term earnings expectations; control by a small number of shareholders; failure to maintain effective system of internal controls; and difficulty in effecting a change of control or sale of any subsidiaries.

Please see Part I – Item 1A – “Risk Factors” in the Company’s 2018 Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission (“SEC”), as well as other documents the Company files with the SEC from time-to-time, for other important factors that could cause the Company’s actual results to differ materially from its current expectations and from the forward-looking statements discussed herein. Because of these and other risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Financial Tables Follow –

UNICO AMERICAN CORPORATION

AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

($ in thousands)

 

 

June 30

 

December 31

 

2019

 

2018

 

(Unaudited)

 

ASSETS

 

 

Investments

 

 

Available-for-sale:

 

 

Fixed maturities, at fair value (amortized cost: June 30, 2019 $80,207; December 31, 2018 $78,303)

$

81,271

$

76,910

 

Held-to-maturity:

 

 

Fixed maturities, at amortized cost (fair value: June 30, 2019 $4,782; December 31, 2018 $7,126)

 

4,782

 

7,126

 

Short‑term investments, at fair value

 

200

 

4,691

 

Total Investments

 

86,253

 

88,727

 

Cash and cash equivalents

 

5,591

 

4,918

 

Accrued investment income

 

410

 

394

 

Receivables, net

 

4,739

 

3,933

 

Reinsurance recoverable:

 

 

Paid losses and loss adjustment expenses

 

455

 

(1

)

Unpaid losses and loss adjustment expenses

 

11,139

 

9,532

 

Deferred policy acquisition costs

 

3,629

 

3,490

 

Property and equipment, net

 

9,910

 

9,692

 

Deferred income taxes

 

4,089

 

4,375

 

Other assets

 

257

 

557

 

Total Assets

$

126,472

$

125,617

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

LIABILITIES

 

 

Unpaid losses and loss adjustment expenses

$

49,830

$

51,657

 

Unearned premiums

 

17,726

 

15,965

 

Advance premium and premium deposits

 

360

 

234

 

Accrued expenses and other liabilities

 

1,650

 

1,845

 

Total Liabilities

 

69,566

 

69,701

 

 

 

 

Commitments and contingencies

 

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

Common stock, no par – authorized 10,000,000 shares; 5,306,747 and 5,307,103 shares issued and outstanding at June 30, 2019, and December 31, 2018, respectively

 

3,773

 

3,773

 

Accumulated other comprehensive income (loss)

 

840

 

(1,100

)

Retained earnings

 

52,293

 

53,243

 

Total Stockholders’ Equity

 

56,906

 

55,916

 

 

 

 

Total Liabilities and Stockholders’ Equity

$

126,472

$

125,617

 

UNICO AMERICAN CORPORATION

AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

($ in thousands, except per share)

 

 

Three Months Ended

 

Six Months Ended

 

June 30

 

June 30

 

2019

 

2018

 

2019

 

2018

REVENUES

 

 

 

 

Insurance company operation:

 

 

 

 

Net earned premium

$

6,518

 

$

7,363

$

12,782

 

$

15,045

 

Investment income

 

531

 

 

453

 

1,063

 

 

897

 

Net realized investment losses

 

(5

)

 

 

(12

)

 

 

Other income (loss)

 

169

 

 

112

 

(92

)

 

168

 

Total Insurance Company Operation

 

7,213

 

 

7,928

 

13,741

 

 

16,110

 

 

 

 

 

 

Other insurance operations:

 

 

 

 

Gross commissions and fees

 

528

 

 

671

 

1,075

 

 

1,278

 

Finance charges and fees earned

 

54

 

 

34

 

104

 

 

52

 

Other income

 

 

 

10

 

11

 

 

10

 

Total Revenues

 

7,795

 

 

8,643

 

14,931

 

 

17,450

 

 

 

 

 

 

EXPENSES

 

 

 

 

Losses and loss adjustment expenses

 

5,059

 

 

4,929

 

10,214

 

 

12,731

 

Policy acquisition costs

 

1,290

 

 

1,515

 

2,376

 

 

3,137

 

Salaries and employee benefits

 

1,013

 

 

1,127

 

2,041

 

 

2,415

 

Commissions to agents/brokers

 

41

 

 

41

 

91

 

 

82

 

Other operating expenses

 

735

 

 

744

 

1,364

 

 

1,610

 

Total Expenses

 

8,138

 

 

8,356

 

16,086

 

 

19,975

 

 

 

 

 

 

Income (loss) before taxes

 

(343

)

 

287

 

(1,155

)

 

(2,525

)

Income tax expense (benefit)

 

(66

)

 

119

 

(207

)

 

(486

)

Net Income (Loss)

$

(277

)

$

168

$

(948

)

$

(2,039

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PER SHARE DATA:

 

 

 

 

Basic

 

 

 

 

Earnings (loss) per share

$

(0.05

)

$

0.03

$

(0.18

)

$

(0.38

)

Weighted average shares

 

5,306,938

 

 

5,307,133

 

5,307,021

 

 

5,307,133

 

Diluted

 

 

 

 

Earnings (loss) per share

$

(0.05

)

$

0.03

$

(0.18

)

$

(0.38

)

Weighted average shares

 

5,306,938

 

 

5,307,133

 

5,307,021

 

 

5,307,133

 

UNICO AMERICAN CORPORATION

AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

($ in thousands)

 

 

Six Months Ended

 

June 30

 

2019

2018

Cash flows from operating activities:

 

 

Net Loss

$

(948

)

$

(2,039

)

Adjustments to reconcile net loss to net cash from operations:

 

 

Depreciation and amortization

 

270

 

 

282

 

Bond amortization, net

 

(5

)

 

129

 

Bad debt expense

 

(21

)

 

 

Net realized investment losses

 

12

 

 

 

Changes in assets and liabilities:

 

 

Net receivables and accrued investment income

 

(801

)

 

1,627

 

Reinsurance recoverable

 

(2,063

)

 

(378

)

Deferred policy acquisitions costs

 

(139

)

 

445

 

Other assets

 

300

 

 

(50

)

Unpaid losses and loss adjustment expenses

 

(1,827

)

 

989

 

Unearned premium

 

1,761

 

 

(1,944

)

Advance premium and premium deposits

 

126

 

 

32

 

Accrued expenses and other liabilities

 

(195

)

 

(699

)

Deferred income taxes

 

(231

)

 

(495

)

Net Cash Used by Operating Activities

 

(3,761

)

 

(2,101

)

 

 

 

Cash flows from investing activities:

 

 

Purchase of fixed maturity investments

 

(6,743

)

 

(10,735

)

Proceeds from maturity of fixed maturity investments

 

3,703

 

 

8,741

 

Proceeds from sale or call of fixed maturity investments

 

3,473

 

 

1,000

 

Net decrease in short-term investments

 

4,491

 

 

1,648

 

Additions to property and equipment

 

(488

)

 

(85

)

Net Cash Provided by Investing Activities

 

4,436

 

 

569

 

 

 

 

Cash flows from financing activities:

 

 

Repurchase of common stock

 

(2

)

 

 

Net Cash Used by Financing Activities

 

(2

)

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

673

 

 

(1,532

)

Cash and cash equivalents at beginning of period

 

4,918

 

 

9,367

 

Cash and Cash Equivalents at End of Period

$

5,591

 

$

7,835

 

 

 

 

Supplemental Cash Flow Information

 

 

Cash paid during the period for:

 

 

Interest

 

 

 

 

Income taxes

$

9

 

$

9

 

 

Contacts

Michael Budnitsky

Chief Financial Officer

818-591-9800

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ARUP Laboratories Deploys World’s First AI-Augmented Ova and Parasite Assay

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SALT LAKE CITY–(BUSINESS WIRE)–#AI–ARUP Laboratories (ARUP), a national reference laboratory and worldwide leader in innovative laboratory research and development, and Techcyte, a leading developer of artificial intelligence (AI) based image analysis solutions for the diagnostics industry, have developed the world’s first AI-augmented ova and parasite detection tool.

“The collaboration with Techcyte has produced an AI-augmented detection tool that significantly advances our diagnostic capabilities in our parasitology lab,” said Adam Barker, PhD, director of Research and Development at ARUP. “This will allow for faster turnaround times, decreased costs, employee satisfaction and improved patient care.”

For laboratorians, digitally enabling the workflow will decrease the physical demands of looking through a microscope for extended periods of time, including eye fatigue and neuromuscular tension. The technology can quickly screen out negative results, allowing laboratorians to spend more time analyzing positive slides.

Techcyte’s digital diagnostics platform applies the latest in convolutional neural networks to pre-classify the fecal sample images captured by a 3DHISTECH Pannoramic 250-Flash III scanner. Pre-classifying the images using the Techcyte tool allows ARUP’s technologists to efficiently read stained glass slides manually and improves the accuracy of parasite detection.

“Microscopy-based diagnostic parasitology has remained woefully static for decades. We have successfully developed a pioneering breakthrough with this tool, the likes of which had previously been unimaginable by classically trained microbiologists,” said Dr. Marc Couturier, medical director of ARUP’s Parasitology labs.

The ova and parasite tool is the first of many projects that ARUP and Techcyte are co-developing. ARUP’s vast medical expertise and access to samples combined with Techcyte’s technical ability and digital evaluation platform will produce high quality algorithms that can be developed and applied to future unmet laboratory needs.

“This revolutionary partnership will combine ARUP’s vast expertise and reputation in the market with Techcyte’s AI-based image analysis capabilities to change the way lab diagnostics are performed,” said Ralph Yarro, CEO of Techcyte.

Medical labs, hardware manufacturers, hospitals, and clinics all benefit from Techcyte’s solutions. In 2019, Techcyte will deliver solutions for blood analysis, cervical cytology, and bacteriology.

About Techcyte

Headquartered in Lindon, Utah, Techcyte, Inc. was founded in 2013 as a technology transfer from the University of Utah with a mission to lower healthcare costs through artificial intelligence. Techcyte uses the power of deep machine learning to perform image analysis of whole slide images. Image analysis is required for widespread adoption of digital diagnostics in research, pharma, human, air quality, and veterinary diagnostic testing. Visit www.techcyte.com for more information.

About ARUP

ARUP Laboratories is a national clinical and anatomic pathology reference laboratory and a worldwide leader in innovative laboratory research and development. A nonprofit enterprise of the University of Utah, ARUP offers an extensive test menu of highly complex and unique medical tests. Rather than competing with its clients for physician office business, ARUP supports its clients’ existing test menus by offering highly complex and unique lab tests, with accompanying consultative support, to enhance their abilities to provide laboratory services. Visit www.aruplab.com for more information.

Contacts

Techcyte Media Contact:

Ben Cahoon, 801-980-0414

ben.cahoon@techcyte.com


ARUP Media Contacts:

Cyndee Holden, 801-583-2787, x- 3318

cynthia.holden@aruplab.com

Peta Owens-Liston, 801-583-2787, x- 3635

peta.liston@aruplab.com

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Empathy Japan: “ROMPERS BEAR” Originated in Japan Launches Overseas Service with English/Chinese Official Website

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ROMPERS BEAR is the only one handmade stuffed toy in the world made from baby clothes by experienced craft persons

TOKYO–(BUSINESS WIRE)–Empathy Japan Co., Ltd. (Representative: Kayoko Watanabe, Office: Setagaya-ku Tokyo, Japan), sells “ROMPERS BEAR” (https://www.rompersbear.com/) is the only one stuffed bear in the world that is made from baby clothes contained kid’s memories, is announcing the launch of an official English and Chinese website from July 2019 to make it easier for overseas customers to order.

Empathy Japan Co., Ltd. is offering a ROMPERS BEAR service making a stuffed bear from baby clothes used to be worn by a baby. It has been selected by a lot of customers in Japan for various kinds of occasions: as birthday gift of first year, for remembrance sake of childcare, and to treat mothers by themselves. Experienced craft persons sew every single bear carefully. We carry out all the processes from sewing to inspection in Japan.

To see the ROMPERS BEAR, parents can remember the tender feeling from “parenting with care” sometime ago, at the same time, the kid can realize “his/her parents raised himself/herself in a loving way” with the ROMPERS BEAR.

Rompers are holding babyhood’s loving memories they were used to slipped on and off the baby and washed every day. We hope these rompers are in visible places to the family even after the babyhood is over, not being put inside the drawer of chest. As a child gets older, parents might face quarrel with the child or get tired of taking care of him/her. But then, by seeing the ROMPERS BEAR, it can let them remember the first laugh or squeeze back by tiny soft hand and get the feel of tender smell.

What is ROMPERS BEAR?

ROMPERS BEAR made from baby clothes is the only one stuffed toy in the world.

It makes parents to bring back memories of the kid’s babyhood or efforts related to childcare.

Every single ROMPERS BEAR is sewed with the warmest wishes. It is an excellent gift for any anniversary such as birthday of first year or any occasions as kids grow up. ROMPERS BEAR is made as handy size and good form to carry around by kids.

Ordering site: https://www.rompersbear.com/about

Price: JPY 15,984; Including Tax + JPY 2,500; Overseas Shipping

Size: Height: About 25cm / Weight: About 120g

Period of Delivery: After about three months from the date of purchase

Two rompers or baby clothes are required to make a ROMPERS BEAR.

On a sole of the ROMPERS BEAR, kid’s “name with alphabet (within 8 letters of alphabet)” and “date of birth (with the dominical year)” will be embroidered.

Made in Japan.

Contacts

Products Contact

ROMPERS BEAR Division, Empathy Japan Co., Ltd.

2-11-13 Seijo, Setagaya-ku, Tokyo, JAPAN 157-0066

info@rompersbear.com

Press Contact

ROMPERS BEAR Division, Empathy Japan Co., Ltd.

Mikito Ninchi

TEL.+81-3-6721-1588 FAX.+81-3-6721-1589 info@rompersbear.com

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Sense.Chat – A Secure Way To Chat & Earn

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Sense.Chat Launches A Secure Messenger & EOS Wallet Utilizing Blockchain Technology

SANTA MONICA, Calif.–(BUSINESS WIRE)–$SENSE #EOSAvailable now on Android and iOS, Sense.Chat allows you to securely chat and transact with your friends, family, and even strangers in the global messenger community. The Sense.Chat Encryption Protocol uses advanced cryptography combined with the EOS Blockchain to deliver messages so that users will be able to maintain their privacy in an unparalleled, highly secure application. Within seconds, users can create a private account with no phone number or email required, start chatting, and share cryptocurrencies with the built-in digital wallet.

“The world is becoming decentralized. I am excited to support this amazing application. Sense.Chat improves human connections by allowing private, seamless messaging and payments,” said Tim Draper, notable investor and Director of the Board of Sense Chat Labs.

Sense.Chat is a dApp (decentralized application) built on EOSIO software, initially created by Block.One, whose CTO Daniel Larimer is a known pioneer of scalable blockchain technology. His product developments are the most successful social blockchain solutions created to date and now he is continuing his work with Voice.

Features & Benefits of Sense.Chat

–Private Messaging: Video and text chat with your friends and family securely using our advanced encryption protocol. We never read or censor your messages, unlike WeChat.

–Crypto Wallet: Send, receive, and store cryptocurrencies while you chat.

–Super Secure: Each party can encrypt messages with public keys in a true peer-to-peer connection. Only you and your contact can decrypt messages.

-Public Channels: Discover exciting conversations, new friends and earn SENSE tokens by chatting in public channels.

-Secure Connection: Chat in real time video and audio calls, connected over data or wifi with no carrier fees.

“You shouldn’t have to compromise your digital self to have a conversation online,” said Sense.Chat CEO Crystal Rose. “With blockchain technology, the digital world can react in the same way as the physical world. Conversations on Sense.Chat are like having a conversation in real life. No middlemen spying on your messages or selling your data.”

Sense.Chat is available on iOS and Android.

Please visit www.sense.chat for more information on Sense.Chat, videos, screenshots, social media, press and more.

ABOUT SENSE

Sense Chat Labs, a venture-backed technology company with investors such as Draper Associates, builds tools for connecting humans worldwide and exchanging value in real time. Its main application, Sense.Chat, is the first of its kind: a truly private, crypto-enabled video messenger.

Contacts

Zac Harding

press@makesense.com

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