MELBOURNE Florida, April 18, 2016 /PRNewswire/ --
NXT-ID, Inc. (NASDAQ:NXTD) ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce market, announces it has received notice of compliance from NASDAQ, dated April 14, 2016.
Based on the representation in the Form 8-K, dated April 12, 2016, NASDAQ staff have determined that the Company complies with the minimum $2.5 million Stockholders' Equity requirement, set forth in Listing Rule 5550(b) (1). The Company is required to evidence this compliance in its next periodic report.
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID (NASDAQ:NXTD) is an emerging growth technology company that is focused on products, solutions, and services for security on mobile devices. Our core technologies consist of those that support digital payments, biometric identification, encryption, sensors, and miniaturization. We have three distinct lines of business that we are currently pursuing: mobile commerce, primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. Our initial efforts have primarily focused on the development of our secure products for the growing m-commerce market, most immediately, a secure mobile electronic smart wallet, the Wocket®. The Wocket® is a smart wallet, designed to protect your identity. http://www.nxt-id.com, http://www.wocketwallet.com
Product images are available for media at: http://press.nxt-id.com
Forward-Looking Statements for NXT-ID: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
NXT- ID Inc Contact:
Corporate info: firstname.lastname@example.org
D. Van Zant
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