This is a very nice stick, based on the same mold as ASCII's series of Dreamcast and PS sticks (Sammy has since bought ASCII's controller division and makes similar looking sticks).
The guts of this stick are instantly familiar to anyone who's opened most any Japanese stick made in the last decade. A PCB with buttons mounted to it, an arcade stick mechanism and a small PCB with the console-specific controller logic.
This is a Playstation stick.
The mechanism is a clone of the Sanwa JLHs-8Y Flash1 optical unit
There are at least three ASCII Sticks with near identical innards, and some of Sammy's sticks (like Sammy's SNK vs Capcom sticks) are identical inside as well. It would seem that this stick has the same logic as the ASCII Stick Pro and may have the same features (ie programmability) as the Pro unit. Note that this stick lacks the LCD screen and save-cart slot the Pro features.
This stick has two buttons mounted to the PCB inside (the curved ones closest to the front) but there are no holes in the front face to access them. These are used for extra features on the Pro stick.