ImageWare Systems, Inc. Financial Ratios — IWSY Stock

Profitability (USD)

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
As of date	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-53.59	-75.38	-250.14	-114.13	-43.06	-104.52	-121.17	-122.57	-131.1	-143.38	-116.51	-111.05	-119.34	-62.49	87.91
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-4.62
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	70	66.11	67.18	65.63	74.53	69.58	79.45	76.15	59.24	71.93	76.92	80.11	81.66	73.92	80.76
EBITDA Margin (%)	-49.94	-66.2	-40.72	-48.03	-42.29	-144.04	-97.32	-183.14	-168.71	-244.83	-224.99	-265.19	-347.29	-192.41	-308.18
Operating Margin (%)	-52.98	-78.05	-42.35	-48.89	-42.8	-145.79	-99.68	-187.45	-172.15	-248.22	-226.58	-266.35	-349.32	-193.92	-309.79
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-55.78	-88.04	-209.59	-84.72	-58.44	-257.35	-185.54	-190.31	-178.49	-249.37	-237.43	-284.72	-330.03	-151.43	267.63
Profit Margin (%)	-55.2	-87.77	-209.59	-86.89	-58.09	-257.91	-185.69	-190.91	-178.95	-249.92	-234.54	-284.97	-330.32	-151.58	267.34
Net Income to Common Margin (%)	-68.99	-178.76	-216.27	-93.7	-65.09	-259.2	-186.65	-192.14	-201.28	-285.26	-290.45	-373.82	-492.04	-228.8	33.58
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.11
Dvd Payout Ratio (%)	18.96	50.61	3.09	7.27	10.75	-1.74	- -	- -	10.56	11.92	18.84	23.46	32.57	33.28	-691.68
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API ChatGPT

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
As of date	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021

Total Debt	- -	- -	3	2	- -	- -	- -	1	- -	3	6	- -	2	3	2
ST Debt	- -	- -	3	- -	- -	- -	- -	- -	- -	3	6	- -	- -	1	1
LT Debt	- -	- -	- -	1	- -	- -	- -	1	- -	- -	- -	- -	2	2	1
Total Debt/EBITDA	- -	-0.02	-1.35	-0.55	-0.05	-0.01	-0.01	-0.17	- -	-0.27	-0.6	- -	-0.17	-0.36	-0.17
Net Debt/EBITDA	0.25	0.02	-0.6	-0.51	2.88	0.73	0.45	-0.14	0.42	-0.1	0.16	0.49	0.08	0.74	0.06
Total Debt/EBIT	- -	-0.02	-1.3	-0.54	-0.05	-0.01	-0.01	-0.17	- -	-0.27	-0.59	- -	-0.17	-0.35	-0.17
Net Debt/EBIT	0.23	0.01	-0.57	-0.5	2.84	0.72	0.44	-0.14	0.41	-0.1	0.16	0.49	0.08	0.73	0.06
EBITDA to Interest Expense	-19.72	-227	-1.16	-2.49	-5.74	-271	-1,290.5	-380.85	-502.88	-91.5	-22.73	-21.59	- -	-88.53	-5,350
EBITDA-CapEx/Interest Expense	-20.12	-230.53	-1.17	-2.5	-5.77	-279.62	-1,338.75	-386.7	-508.31	-91.98	-22.74	-22.03	- -	-88.53	-5,376.5
EBIT to Interest Expense	-20.92	-267.63	-1.21	-2.53	-5.81	-274.29	-1,321.75	-389.8	-513.12	-92.76	-22.89	-21.68	- -	-89.22	-5,378
Interest Expense	- -	- -	2	1	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -
Common Equity/Total Assets	-762.07	-1,665.09	-2,016.63	-2,591.79	-1,001.06	-1,359.24	-1,700.28	-2,519.3	-1,917.37	-2,759.98	-1,469.16	-1,697.11	-2,415.83	-1,440.51	-3,233.9
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,406.56	- -	- -
Long-Term Debt/Capital (%)	- -	-0.11	- -	-1.4	- -	- -	- -	-0.97	- -	- -	- -	- -	-0.89	-0.94	-0.41
Long-Term Debt/Total Assets (%)	- -	1.87	- -	35.84	- -	- -	- -	24.23	- -	- -	- -	- -	20.4	13.17	12.7
Total Debt/Equity (%)	- -	-9.5	-22.51	-8.58	-1.93	2.77	1.65	-126.79	- -	-200.63	502.96	- -	1,712.3	-18.02	-28.77
Total Debt/Capital (%)	- -	-0.11	-3.49	-1.51	-0.1	-0.05	-0.04	-0.97	- -	-1.64	-3.51	- -	-1.09	-1.58	-0.94
Total Debt/Total Assets (%)	- -	1.87	68.02	38.6	1.02	0.75	0.73	24.23	- -	44.51	49.76	- -	24.84	22.22	28.85
Net Debt to Equity	-29.6	7.07	-9.96	-8.01	116.65	-177.55	-69.29	-105.71	-90.79	-74.76	-134.41	-111.02	-844.26	37.12	10.71
Net Debt/Capital (%)	1.36	0.08	-1.54	-1.41	5.81	3.39	1.77	-0.81	2.25	-0.6	0.9	3.09	0.53	3.13	0.35
EBITDA	-4	-4	-2	-3	-2	-6	-5	-8	-8	-9	-10	-12	-12	-9	-11
EBITDA-CapEx	-4	-4	-2	-3	-2	-6	-5	-8	-8	-9	-10	-12	-12	-9	-11
Operating Income (Loss)	-4	-5	-3	-3	-2	-6	-5	-8	-8	-9	-10	-12	-12	-9	-11

Liquidity (USD)

API ChatGPT

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
As of date	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021

Cash Ratio	0.2	0.03	0.05	0.02	1.58	1.16	0.74	0.07	1.39	0.31	0.87	1.48	0.25	0.29	0.12
Current Ratio	0.39	0.17	0.17	0.09	1.69	1.34	1.04	0.45	1.59	0.4	0.95	1.8	0.61	0.32	0.18
Quick Ratio	0.28	0.13	0.13	0.08	1.66	1.25	0.84	0.15	1.54	0.37	0.92	1.73	0.4	0.31	0.16
CFO/Avg Current Liab	-0.55	-0.42	-0.46	-0.35	-0.52	-1.4	-1.42	-1.98	-2.52	-2.12	-1.29	-1.68	-2.8	-0.49	-0.4
Common Equity/Total Assets	-762.07	-1,665.09	-2,016.63	-2,591.79	-1,001.06	-1,359.24	-1,700.28	-2,519.3	-1,917.37	-2,759.98	-1,469.16	-1,697.11	-2,415.83	-1,440.51	-3,233.9
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,406.56	- -	- -
Long-Term Debt/Capital (%)	- -	-0.11	- -	-1.4	- -	- -	- -	-0.97	- -	- -	- -	- -	-0.89	-0.94	-0.41
Long-Term Debt/Total Assets (%)	- -	1.87	- -	35.84	- -	- -	- -	24.23	- -	- -	- -	- -	20.4	13.17	12.7
Total Debt/Equity (%)	- -	-9.5	-22.51	-8.58	-1.93	2.77	1.65	-126.79	- -	-200.63	502.96	- -	1,712.3	-18.02	-28.77
Total Debt/Capital (%)	- -	-0.11	-3.49	-1.51	-0.1	-0.05	-0.04	-0.97	- -	-1.64	-3.51	- -	-1.09	-1.58	-0.94
Total Debt/Total Assets (%)	- -	1.87	68.02	38.6	1.02	0.75	0.73	24.23	- -	44.51	49.76	- -	24.84	22.22	28.85
CFO/Total Liabilities	-44.88	-34.97	-14.69	-9.46	-13.75	-87.2	-115.09	-99.66	-183.38	-113.99	-83.23	-175.67	-135.94	-24.23	-61.17
CFO/CapEx	-33.44	-32.72	-179.62	-159.23	-206.27	-30.68	-25.13	-54.89	-82.56	-161.45	-1,740.6	-42.96	-363.45	- -	-145.98
Altman's Z-Score	-36.08	-80.04	-108.16	-312.59	-19.72	-29.52	-26.09	-95.46	-36.5	-105.17	-24.51	-30.26	-63.13	-30.49	-112.68

Working Capital (USD)

API ChatGPT

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
As of date	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021

Accounts Receivable Turnover	7.91	14.04	10.67	13.42	18.65	11.69	16.84	14.64	15.51	11.99	11.52	6.18	4.32	7.76	7.23
Days Sales Outstanding	46.16	26	34.21	27.2	19.57	31.23	21.68	24.92	23.53	30.45	31.67	59.09	84.59	47.06	50.46
Inventory Turnover	27.09	29.64	16.56	17.22	48.91	7.83	2.84	1.4	4.04	31.01	19.43	16.22	2	3.81	20.55
Days Inventory Outstanding	13.48	12.32	22.04	21.2	7.46	46.61	128.42	261.42	90.31	11.77	18.78	22.5	182.78	95.78	17.76
Accounts Payable Turnover	1.67	1.1	1.3	1.69	1.26	1.52	2.14	2.97	3.27	3.36	2.37	1.46	2.06	0.88	0.71
Accounts Payable Turnover Days	218.46	330.97	279.86	215.86	289.54	239.47	170.45	122.92	111.64	108.59	153.74	250.77	177.15	412.73	515.36
Cash Conversion Cycle	-158.82	-292.66	-223.62	-167.46	-262.51	-161.64	-20.36	163.42	2.2	-66.38	-103.28	-169.18	90.22	-269.88	-447.14
Inventory to Cash Days	32.68	13.68	12.17	6	12.11	-15.39	-106.74	-236.5	-66.78	18.68	12.89	36.59	-98.2	-48.72	32.7
Inventories	- -	- -	- -	- -	- -	- -	1	1	- -	- -	- -	- -	1	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	1	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
As of date	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021

Market Capitalization	23	3	16	23	22	60	157	220	122	126	148	85	35	10	6
- Cash & Cash Equivalents	1	- -	- -	- -	7	4	2	- -	3	2	7	6	1	8	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8	9	2	9
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	3	2	- -	- -	- -	1	- -	3	6	- -	2	3	2
Enterprise Value	22	2	19	24	15	56	154	221	119	127	146	87	45	7	16
Total Capital	-76	-87	-95	-102	-108	-118	-128	-135	-146	-154	-165	-178	-192	-208	-194
Total Debt/Capital (%)	- -	-0.11	-3.49	-1.51	-0.1	-0.05	-0.04	-0.97	- -	-1.64	-3.51	- -	-1.09	-1.58	-0.94
Total Debt / EV	- -	0.04	0.18	0.06	0.01	- -	- -	0.01	- -	0.02	0.04	- -	0.05	0.47	0.12
EV/Sales	2.59	0.38	3.13	4.16	2.78	14.2	29.12	53.24	24.86	33.19	34.02	19.8	12.81	1.46	4.47
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	23	3	16	23	22	60	157	220	122	126	148	85	35	10	6
Diluted Enterprise Value	22	2	19	24	15	56	154	221	119	127	146	87	45	7	16
EV per Share	1.46	0.14	0.97	1.04	0.56	0.79	1.9	2.41	1.26	1.34	1.57	0.92	0.43	0.05	0.05
TTM Sales	8	7	6	6	5	4	5	4	5	4	4	4	4	5	3
TTM EBITDA	-4	-4	-2	-3	-2	-6	-5	-8	-8	-9	-10	-12	-12	-9	-11
TTM Operating Income	-4	-5	-3	-3	-2	-6	-5	-8	-8	-9	-10	-12	-12	-9	-11
TTM Cash Flow to Firm	-3	-2	-1	-1	-2	-6	-5	-6	-7	-8	-8	-10	-11	-8	-8
TTM Free Cash Flow to Firm	-3	-2	-1	-1	-2	-5	-5	-6	-7	-8	-8	-10	-11	-8	-8

Multiples (USD)

API ChatGPT

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
As of date	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021

Price/Free Cash Flow	-8.26	-1.19	-5.57	-11.04	-9.68	-11.22	-33.66	-34.94	-17.18	-15.97	-16.97	-8.41	-3.11	-1.31	-0.82
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	22	2	19	24	15	56	154	221	119	127	146	87	45	7	16
Low Price	1.4	0.05	0.14	0.27	0.5	0.41	0.79	1.6	0.9	0.85	0.81	0.55	0.23	0.06	0.02
EV/Sales	2.59	0.38	3.13	4.16	2.78	14.2	29.12	53.24	24.86	33.19	34.02	19.8	12.81	1.46	4.47
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.27
Price/Earnings Average	-4.99	-1.1	-0.73	-2.68	-7.58	-6.49	-13.04	-24.21	-16.2	-10.85	-8.89	-7.68	-5.03	-2.57	16.67
Price/Earnings High	-7.23	-2.5	-1.41	-4.21	-13.03	-9.35	-23.38	-35.27	-23.06	-13.2	-12.06	-12.95	-10.89	-6.58	49.52
Price/Earnings Low	-3.6	-0.08	-0.21	-1.15	-3.83	-2.84	-6.48	-18.38	-8.79	-7.38	-6.04	-3.18	-1.39	-0.79	4.31
Price/Book Value	-0.3	-0.03	-0.16	-0.22	-0.2	-0.51	-1.22	-1.62	-0.84	-0.8	-0.87	-0.45	-0.17	-0.05	-0.03
Price/Book Value Average	-0.39	-0.15	-0.1	-0.14	-0.25	-0.56	-1.01	-1.42	-1.07	-0.75	-0.65	-0.68	-0.43	-0.13	-0.1
Price/Book Value High	-0.56	-0.33	-0.19	-0.22	-0.43	-0.81	-1.8	-2.07	-1.52	-0.92	-0.88	-1.14	-0.92	-0.34	-0.28
Price/Book Value Low	-0.28	-0.01	-0.03	-0.06	-0.13	-0.25	-0.5	-1.08	-0.58	-0.51	-0.44	-0.28	-0.12	-0.04	-0.02
Price/Tangible Book Value	-6.85	-0.55	-0.87	-1.06	-2.38	-47.26	-605.32	-47.94	776.57	-26.26	-62.45	-12.98	-2.85	-0.45	-0.33
Price/Tangible Book Value Average	-8.69	-2.81	-0.53	-0.68	-2.94	-52.13	-498.45	-42.09	990.2	-24.66	-46.9	-19.38	-7.09	-1.21	-1.05
Price/Tangible Book Value High	-12.59	-6.38	-1.01	-1.07	-5.05	-75.07	-893.87	-61.32	1,409.78	-30.01	-63.63	-32.68	-15.34	-3.09	-3.12
Price/Tangible Book Value Low	-6.27	-0.2	-0.15	-0.29	-1.49	-22.8	-247.77	-31.96	537.63	-16.78	-31.88	-8.02	-1.96	-0.37	-0.27
Price/Sales	2.72	0.39	2.64	3.91	3.99	15.25	29.56	52.97	25.57	32.95	34.38	19.24	9.97	2.19	1.77
Price/Sales Average	3.45	1.97	1.59	2.51	4.93	16.82	24.34	46.52	32.6	30.94	25.81	28.73	24.77	5.88	5.6
Price/Sales High	4.99	4.46	3.06	3.95	8.48	24.22	43.65	67.76	46.41	37.65	35.03	48.43	53.59	15.05	16.63
Price/Sales Low	2.49	0.14	0.45	1.08	2.5	7.36	12.1	35.31	17.7	21.06	17.55	11.89	6.85	1.81	1.45
Price/Cash Flow	-8.02	-1.15	-5.54	-10.97	-9.63	-10.85	-32.32	-34.31	-16.97	-15.88	-16.96	-8.22	-3.1	-1.31	-0.79
Price/Cash Flow Average	-10.17	-5.85	-3.33	-7.05	-11.9	-11.97	-26.61	-30.12	-21.64	-14.91	-12.73	-12.27	-7.71	-3.52	-2.51
Price/Cash Flow High	-14.72	-13.26	-6.42	-11.08	-20.47	-17.24	-47.72	-43.88	-30.81	-18.14	-17.28	-20.69	-16.67	-8.99	-7.46
Price/Cash Flow Low	-7.34	-0.41	-0.95	-3.02	-6.02	-5.23	-13.23	-22.87	-11.75	-10.15	-8.66	-5.08	-2.13	-1.08	-0.65
Price/Free Cash Flow Average	-10.48	-6.04	-3.35	-7.09	-11.96	-12.37	-27.72	-30.68	-21.91	-15	-12.74	-12.56	-7.73	-3.52	-2.6
Price/Free Cash Flow High	-15.18	-13.68	-6.45	-11.15	-20.57	-17.82	-49.7	-44.7	-31.19	-18.26	-17.29	-21.18	-16.72	-8.99	-7.72
Price/Free Cash Flow Low	-7.56	-0.42	-0.95	-3.04	-6.05	-5.41	-13.78	-23.29	-11.9	-10.21	-8.66	-5.2	-2.14	-1.08	-0.67
EV/Sales Average	3.32	1.96	2.08	2.76	3.72	15.77	23.9	46.78	31.9	31.18	25.45	29.29	27.61	5.16	8.3
EV/Sales High	4.87	4.45	3.55	4.2	7.27	23.17	43.21	68.02	45.71	37.9	34.67	48.99	56.42	14.32	19.33
EV/Sales Low	2.36	0.13	0.94	1.32	1.28	6.3	11.66	35.58	17	21.3	17.19	12.45	9.68	1.08	4.15
EV/EBITDA Average	-6.65	-2.96	-5.11	-5.74	-8.79	-10.95	-24.56	-25.54	-18.91	-12.74	-11.31	-11.04	-7.95	-2.68	-2.69
EV/EBITDA High	-9.74	-6.72	-8.72	-8.74	-17.18	-16.09	-44.4	-37.14	-27.09	-15.48	-15.41	-18.47	-16.25	-7.44	-6.27
EV/EBITDA Low	-4.73	-0.19	-2.32	-2.76	-3.02	-4.38	-11.99	-19.43	-10.07	-8.7	-7.64	-4.69	-2.79	-0.56	-1.35
EV/EBIT Average	-6.27	-2.51	-4.92	-5.64	-8.68	-10.82	-23.98	-24.96	-18.53	-12.56	-11.23	-11	-7.9	-2.66	-2.68
EV/EBIT High	-9.19	-5.7	-8.39	-8.58	-16.98	-15.89	-43.35	-36.29	-26.55	-15.27	-15.3	-18.39	-16.15	-7.38	-6.24
EV/EBIT Low	-4.46	-0.16	-2.23	-2.71	-2.99	-4.32	-11.7	-18.98	-9.87	-8.58	-7.59	-4.67	-2.77	-0.56	-1.34
Last Price	1.53	0.14	0.82	0.98	0.8	0.85	1.93	2.4	1.3	1.33	1.59	0.89	0.34	0.08	0.02
High Price	2.81	1.61	0.95	0.99	1.7	1.35	2.85	3.07	2.36	1.52	1.62	2.24	1.8	0.54	0.18
Enterprise Value Average	28	13	13	16	20	62	127	195	152	119	109	129	97	25	29
Enterprise Value High	41	29	21	24	40	92	229	283	218	144	149	216	198	69	67
Enterprise Value Low	20	1	6	8	7	25	62	148	81	81	74	55	34	5	14

Shares Outstanding	17	18	22	24	68	77	88	94	94	92	94	98	113	180	347
Diluted Weighted Avg Shares	15	18	19	23	27	71	81	92	94	94	93	95	104	133	321
Basic Weighted Avg Shares	15	18	19	23	27	71	81	92	94	94	93	95	104	133	312
Revenue per Share	0.56	0.36	0.31	0.25	0.2	0.06	0.07	0.05	0.05	0.04	0.05	0.05	0.03	0.04	0.01
EBITDA per Share	-0.28	-0.24	-0.13	-0.12	-0.08	-0.08	-0.06	-0.08	-0.09	-0.1	-0.1	-0.12	-0.12	-0.07	-0.03
Operating Income per Share	-0.3	-0.28	-0.13	-0.12	-0.09	-0.08	-0.07	-0.08	-0.09	-0.1	-0.1	-0.12	-0.12	-0.07	-0.03
Basic EPS, GAAP	-0.39	-0.64	-0.67	-0.23	-0.13	-0.14	-0.12	-0.09	-0.1	-0.12	-0.13	-0.17	-0.17	-0.08	- -
Basic EPS from Cont Ops	-0.31	-0.32	-0.65	-0.22	-0.12	-0.14	-0.12	-0.09	-0.09	-0.1	-0.11	-0.13	-0.11	-0.05	0.03
Diluted EPS, GAAP	-0.39	-0.64	-0.67	-0.23	-0.13	-0.14	-0.12	-0.09	-0.1	-0.12	-0.13	-0.17	-0.17	-0.08	- -
Diluted EPS from Cont Ops	-0.31	-0.32	-0.65	-0.22	-0.12	-0.14	-0.12	-0.09	-0.09	-0.1	-0.11	-0.13	-0.11	-0.05	0.03
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.19	-0.12	-0.15	-0.09	-0.08	-0.08	-0.06	-0.07	-0.08	-0.08	-0.09	-0.11	-0.11	-0.06	-0.02
Free Cash Flow per Basic Share	-0.2	-0.13	-0.15	-0.09	-0.08	-0.08	-0.06	-0.07	-0.08	-0.08	-0.09	-0.11	-0.11	-0.06	-0.02
Cash & Equivalents per Share	0.07	0.01	0.02	- -	0.25	0.06	0.03	- -	0.04	0.02	0.08	0.06	0.01	0.06	- -
Book Value per Share	-5.02	-4.83	-5.05	-4.45	-3.95	-1.67	-1.58	-1.48	-1.56	-1.66	-1.84	-1.96	-1.95	-1.6	-0.65
Tangible Book Value per Share	-0.22	-0.25	-0.94	-0.92	-0.34	-0.02	- -	-0.05	- -	-0.05	-0.03	-0.07	-0.12	-0.17	-0.06

ImageWare Systems, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)