MELBOURNE, Florida, February 24, 2017 /PRNewswire/ --
NXT-ID, Inc. (NASDAQ: NXTD)("NXT-ID" or the "Company"), a security technology company, responded to a press release issued on February 23, 2017, by Purcell Julie & Lefkowitz LLP, by issuing the following statement:
"Yesterday, the Company was alerted to an announcement about a law firm's investigation into certain corporate actions taken by shareholders in 2015. Shortly thereafter we received a formal letter from that same law firm on behalf of a shareholder asking that we review the promptness of the notice of certain shareholder actions taken in 2015.
While the Company's general policy is not to respond to third-party assertions, the Company also strongly believes that it is important to act on shareholder inquiries as its primary mission is to create and protect shareholder value. The Company has always sought to act in its shareholders' best interests and believes it has done so here as well. The Company's board of directors plans to review the assertions in the law firm's correspondence and investigate the substance of these claims and to then respond accordingly."
About NXT- ID Inc. - Mobile Security for a Mobile World
Nxt-ID, Inc. (NASDAQ: NXTD) is a security technology Company providing security for finance, assets and healthcare. The Company's innovative MobileBio® solution mitigates risks associated with mobile computing, m-commerce and smart OS-enabled devices. With extensive experience in biometric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, the Company partners with industry leading companies to provide solutions for modern payment and the Internet of Things ("IoT") applications. The Company's wholly owned subsidiary, LogicMark, LLC, manufactures and distributes nonmonitored and monitored personal emergency response systems ("PERS") sold through the United States Department of Veterans Affairs ("VA"), healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors.
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 :
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SOURCE NXT-ID, Inc.