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Last $0.0012 USD
Change Today -0.0002 / -14.29%
Volume 301.0K
HWSY On Other Exchanges
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

hawk systems inc (HWSY) Snapshot

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52 Week High
06/11/14 - $0.0070
52 Week Low
05/8/14 - $0.0009
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Dividend Yield
Current Stock Chart for HAWK SYSTEMS INC (HWSY)

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hawk systems inc (HWSY) Details

Hawk Systems, Inc., through its subsidiaries, develops fingerprint authentication technology. Its technology would offer security, convenience, and ease of use in applications, such as automobile locks and theft-protection. The company offers Print Access Security System (PASS), an automotive security product. Its technology could also used for security in banking, healthcare, hotel/casino operations, employee time clock and attendance, stadium security, and sporting and gaming applications where identity management is required. The company was incorporated in 2001 and is based in West Palm Beach, Florida.

1 Employees
Last Reported Date: 05/4/10
Founded in 2001

hawk systems inc (HWSY) Top Compensated Officers

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Executives, Board Directors

hawk systems inc (HWSY) Key Developments

Mark Spanakos Files Civil Action Suit Against Hawk Systems, Inc., Hawk Biometric Technologies, Inc., and its Affiliates

On behalf of shareholders, Mark Spanakos, filed a derivative civil action suit in Palm Beach County, Florida against Hawk Systems, Inc., Hawk Biometric Technologies, Inc., and its affiliates, which include Dave Coriaty, Tony De Risi, and Ed Sebastiano, in an effort to expose what is suspected to be a massive financial scam. The plaintiff seeks restitution after shareholders' invested millions were later found to be used instead for the "personal and private gain of the Defendants". The court document cites Hawk Systems, Inc. and its affiliates "generated approximately $22,000,000 in investment liabilities, however during that same period HAWK reported sales of only $5,575." Spanakos is cited to have encountered the misuse of such investments firsthand "when he was included on the Board of Directors and observed the other Board members using company funds to finance their lavish and extravagant lifestyles". Hawk Systems, Inc. deemed itself a "developer of innovative fingerprint authentication technology." "Since its inception in 2006, the Board (with the exception of Spanakos) has used HAWK as a means to defraud unsuspecting shareholders of their funds." The defendants presented shareholders with "fraudulent material representation," which was "detrimentally relied upon by the Plaintiff in his decision to invest and loan funds to HAWK SYSTEMS." Upon suspicion, the plaintiff requested the defendants secure him with "copies of all bank statements and checks, and report the truth about the company in all SEC filings." Lacking compliance, "it wasn't until the company bank records were subpoenaed and reviewed by Spanakos that he learned of the astonishing abuse of investor and creditor funds." In a decision to "raise more capital," the Board (excluding Spanakos) sought out "investors and/or a public entity that could either purchase or merge with HAWK for the purposes of taking the company public," which eventually lead to the authorization of "100,000,000 shares of stock to be sold as 'penny stock'." This, in addition to "fraudulent public announcements of mergers and acquisitions with other entities," caused the Hawk Systems, Inc. stock price to rise, creating "substantial gains for those who received their stock for free or paid the 'penny stock' price." According to the court registered document, "The end result is that HAWK sold more stock than authorized at a myriad of different prices not related to the real value of the stock." As stock for the company is "continually and wrongfully issued," shareholders continue to lose their investments. "Despite losses of over $22,000,000, the volume of HAWK stocks being publically traded have been millions of shares per week." The Plaintiff now seeks trial by jury of over 60 Defendants on 6 counts, which include Unjust Enrichment, Fraud in the Inducement, Negligent Misrepresentation, and Conspiracy to Commit Fraud.


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