Breaking Tech News: NXT-ID (NASDAQ: NXTD) Issues Shareholder Corporate Update
SHELTON, Conn. - September 22, 2014
(Investorideas.com Newswire) NXT-ID, Inc., (NASDAQ:
NXTD), a
biometric authentication company focused on the growing mobile commerce market,
issues the following corporate shareholder update following the uplisting to
NASDAQ and the recent funding.
Letter from the CEO:
NXT-ID recently completed an
essential round of funding and joined the NASDAQ to support ramping of
production of Wocket™ as well as expand its other biometric and authentication
products and services. This
strategic achievement positions NXT-ID to pursue new markets and distribution
channels while expanding staff in key technology and other positions and
continuing to promote consumer awareness through social media and advertising
to select markets. NXT-ID has already filled several new positions to
accelerate our development of new, innovative features of Wocket and other
products. We are adding to our existing staff of 12 and have signed a lease on
a fulfillment and customer support center in Melbourne, FL.
Recent developments in the payment industry
have brought focus to the many issues surrounding how we pay, and what we pay
with. Another large data breach, this time at Home
Depot, emphasizes that a smart wallet platform such as Wocket is needed now
more than ever.
Although Apple Pay has
dominated recent news and generated new life in existing technology built
around NFC, Android device owners won't be able to take advantage of ApplePay;
nor will those without a smart-phone or an iPhone 6 without a slide on case.
NFC payment technology was introduced several years ago by services such as
Google Wallet and Softcard (previously ISIS Wallet). In addition, some of the
largest retailers such as Best Buy, Target, and Walmart are embracing yet
another QR code-based technology called MCX, emphasizing the fragmentation in
next generation payment systems.
Like Apple Pay, these digital
wallets require a cell phone, with attendant battery life issues, an active
data connection, and special hardware at the retailer.
Unlike cell phone dependent
and connected technologies, Wocket works without a smart-phone, disconnected
from cloud-based services, and maintains all the features of a wallet, allowing
users to customize and carry whatever they need. It's truly the first universal
secure payment solution. NXT-ID continues to work with several payment
technologies and partners to take advantage of the flexible Wocket platform
that includes biometric access protection and EMV like encryption through wocket
numbers. While new payment technologies provide convenience and wireless features, the fact remains that consumers still
have to carry a wallet containing cards to access ATMs, pay when their phone
dies or loses signal, and checkout at locations that don't support NFC. Rather
than a few hours of battery life between charges, an unprecedented minimum of 6
months can be achieved with typical Wocket use. In addition, Wocket is the only
secure vault with a flexible platform that encompasses more than just a single
payment method, and works everywhere you use your cards today.
Wocket secures all the
information and cards users commonly store in their wallet, allowing them to
continue paying with and using their credit, debit, loyalty, and insurance cards
just as they do today. Wocket can even store login credentials, crypto currency
accounts, and one
thing that no digital wallet can ever replace -- cash. Wocket completely
replaces the wallet and hosts a new generation of wallets that combine fashion
with personal security.
The
flexibility of the Wocket platform can support NFC and EMV, as well as
Bluetooth and other forms of payment as they become prevalent in the future.
Thus, unlike other technologies that are only accepted in certain
locations, Wocket can be accepted everywhere while still providing security and
privacy. Furthermore, Wocket is the only device that can secure all cards and
personal information within your wallet directly under the owner's control, not
within an impersonal cloud or unproven custodian of private data.
We will issue a marketing
update with new initiatives including new TV ad campaigns and new celebrity ads
this week followed by a detailed product manufacturing update, including
delivery of the much anticipated Wocket.
The payment industry is
currently undergoing massive change and we appreciate our shareholder's support
in embracing our unique technology and approach to payments with the Wocket.
We believe we are delivering
something to consumers and the market that has not been accomplished by our
peers and competitors.
Gino Pereira
Chief Executive Officer
Nxt-ID, Inc.
Nxt-ID, Inc.
Read this release
in full at http://www.investorideas.com/CO/NXT/news/2014/09221.asp
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (Nasdaq: NXTD) innovative MobileBio™
solution mitigates consumer risks associated with mobile computing, m-commerce
and smart OS-enabled devices. The company is focused on the growing m-commerce
market, launching its innovative MobileBio™ suite of biometric solutions that
secure consumers' mobile platforms led by the Wocket™ ; a next generation smart
wallet designed to replace all the cards in your wallet, no smart phone
required. The Wocket works anywhere credit cards are accepted and only works
with your biometric stamp of approval. http://www.wocketwallet.com/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged
in biometric identification has 22 licensed patents in the field of 3D facial
recognition http://www.nxt-id.com/, http://3d-id.net/
Statements
contained herein that are not based upon current or historical fact are
forward-looking in nature and constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements reflect the
Company's expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties. These
statements include but are not limited to statements regarding the intended
terms of the offering, closing of the offering and use of any proceeds from the
offering. When used herein, the words "anticipate,"
"believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect"
and similar expressions, as they relate to Nxt-ID, Inc., its subsidiaries, or
its management, are intended to identify such forward-looking statements. These
forward-looking statements are based on information currently available to the
Company and are subject to a number of risks, uncertainties, and other factors
that could cause the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or implied by,
these forward-looking statements.
Contact:
Investor
Inquiries:
Kirin Smith
ProActive Capital Group
Direct: 646 863 6519
ksmith@proactivecapital.com
Kirin Smith
ProActive Capital Group
Direct: 646 863 6519
ksmith@proactivecapital.com
Media: 800-665-0411
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Disclosure: As of June 2014,
NXT-Id renewed for five thousand per month and average of two thousand five
hundred 144 shares (cash equivalent) for news publication and marketing of
Wocket smart wallet. More info:
http://www.investorideas.com/About/Disclaimer.asp and http://www.investorideas.com/About/News/Clientspecifics.asp
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