OXFORD, Conn., Oct. 4, 2021 /PRNewswire/ -- Nxt-ID, Inc. (NASDAQ: NXTD) (the "Company" or "NXT-ID"), a provider of technology products and services for healthcare applications, today shared a letter to NXT-ID shareholders from the Company's Chief Executive Officer, Chia-Lin Simmons. The letter provides operational and financial updates from Ms. Simmons first 100 days. It also reminds shareholders to vote today "FOR" each of the reverse split proposals relating to NXT-ID's common stock and Series C preferred stock, so that the Company's common stock can remain listed on Nasdaq. The special meeting of our shareholders ("Special Meeting") is scheduled to be held on Friday, October 15, 2021.
"I was first attracted to NXT-ID because of its life-changing technologies and the opportunity to make a real difference in this world. Not only do these technologies support affordable, independent living, but we are also providing immense support to caregivers," said Ms. Simmons. "I know that NXT-ID has faced numerous operational and financial challenges over the last several years, and we have identified several priorities to place NXT-ID on the right path. To enable us to continue to work towards making real change, we urge all of you, our shareholders, to vote "FOR" the two reverse stock split proposals so that we can avoid delisting from Nasdaq."
Shareholders are encouraged to review the attached letter from Ms. Simmons, which can also be found on the Company's microsite, www.voteFORnxt-id.com, and in the definitive additional materials relating to the Special Meeting recently filed by the Company with the Securities and Exchange Commission ("SEC").
Shareholders as of the Special Meeting's record date, September 16, 2021, will be entitled to vote at the Special Meeting. Shareholders are encouraged to read about the reverse stock split proposals in the Company's Definitive Proxy Statement on Schedule 14A that was filed with the SEC on September 17, 2021 (the "Definitive Proxy Statement"). The Definitive Proxy Statement can also be found at www.voteFORnxt-id.com. Shareholders who have any questions or need assistance voting their shares should contact the Company's proxy solicitor, Laurel Hill Advisory Group, LLC, at 888-742-1305.
If your shares are registered directly in your name with NXT-ID's transfer agent, VStock Transfer, LLC, you are considered the "stockholder of record" of those shares and the proxy statement for the Special Meeting is being sent directly to you by NXT-ID. Shareholders of record (that is, shareholders who hold their shares in their own name) can vote by mail, online, email, fax or in person at the Special Meeting by following the instructions provided on the proxy card.
If you choose to submit your proxy by mail, simply mark, date and sign your proxy card and return it in the postage-paid envelope provided.
If you choose to submit a proxy by internet, go to http://www.vstocktransfer.com/proxy to complete an electronic proxy card. Have your proxy card in hand when you access the website and follow the instructions to cast a vote. Your internet proxy must be received by 11:59 p.m. Eastern Time on October 14, 2021 to be counted.
Beneficial Owners of Shares Held in Street Name
If your shares are held in "street name" (that is, in the name of a bank or broker or other holder of record), you will receive instructions from the holder of record that you must follow in order for your shares to be voted. Internet voting will also be offered to shareholders owning shares through most banks and brokers. If your shares are held with a brokerage firm or custodial bank, you are considered the "beneficial owner" of shares held in street name, and the proxy statement for the Special Meeting was mailed or emailed to you by your broker, bank or nominee, who is considered the stockholder of record of those shares. As a beneficial owner, you have the right to direct your broker, bank or nominee on how to vote the shares held in your account.
However, holders of shares held in "street name" may not vote these shares in person at the Special Meeting unless such holders request and obtain a legal proxy from such bank, broker or other holder of record.
About Nxt-ID, Inc.
Nxt-ID, Inc. (NASDAQ: NXTD) provides technology products and services for healthcare applications. The Company has extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization, sensor technologies and healthcare applications. Through its subsidiary, LogicMark LLC, NXT-ID is a manufacturer and distributor of non-monitored and monitored personal emergency response systems sold through dealers/distributors and the United States Department of Veterans Affairs. Learn more about NXT-ID at www.NXT-ID.com. For NXT-ID corporate information, contact: info@NXT-ID.com.
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; the Company's ability to maintain its Nasdaq listing for its common stock; 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 SEC.
Investor / Media Contacts:
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Laurel Hill Advisory Group
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SOURCE NXT-ID, Inc.