Just as it was launching its consumer campaign VeriChip seems to be going away.
An executive told RFID Update simply it couldn't stand the "cash burn" of consumer marketing. This just three weeks after launching its program. The Xmark deal enabled the company to get out from under its bills.
CEO Scott Silverman was then bounced and replaced by Joseph J. Grillo, who runs another RFID company in the same town, Digital Angel. That company lost $4.8 million on sales of $22.4 million in its most recent quarter.
While VeriChip released a study just yesterday claiming its technology saved emergency care patients $685.67 per day, it has been dogged by critics like CASPIAN, which yesterday released a new report linking the chips with cancerous tumors.
The chips only contained 16-digit identification numbers, but from here both they, and the company endorsing them, look to be on the way to the dustbin. That famous picture above, showing the chip next to a penny, may soon represent its stock price.