Implantable RFID: Not Yet

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Part of the problem is likely the lackluster sales for the company's most famous product. Only 222 medical patients in total have opted to get RFID chips from VeriChip implanted as of the end of 2006, according to documents filed by the company with the Securities and Exchange Commission as part of its initial public offering. It's a modest number, the company says, and revenue for these systems is far below projections. "To date, we have only generated approximately $0.1 million in revenue ($100,000) from sales of the microchip inserter kits, significantly less than we had projected at the beginning of 2006. We may never achieve market acceptance or more than nominal or modest sales of this system," the company stated.