SEBASTIAN, Florida,
September 25, 2018 /PRNewswire/
--
Nxt-ID, Inc. (NASDAQ: NXTD) a provider of healthcare
devices as well as payment, credential management, and
authentication platform services, announces its management team
will host an investor webcast to discuss the recently announced
plan to spin-off its payment division.
The webcast will commence Thursday,
September 27th at 4:10
p.m. EST.
The Company previously announced that it intends to separate its
payments, authentication and credential management business into an
independent company and distribute shares of the newly created
company to its shareholders through the execution of a spin-off,
which the Company believes will qualify as a tax-free distribution.
Immediately following the transaction, which is expected to be
completed by November 15, 2018,
Nxt-ID shareholders who own common shares of Nxt-ID on the dividend
date of October 15, 2018 will own
shares of both companies. The webcast format will feature a
management discussion with analysts regarding the spin-off strategy
and process.
Shareholders, investors and interested parties wanting to
participate in the webcast must use this link to register prior to
the event:
https://edge.media-server.com/m6/p/awmcthz3
An archived replay of the webcast will be available following
the conclusion of the call for a limited time and on the company's
website following the event.
About Nxt- ID, Inc.
Nxt-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of
technology products and services that enable the Internet of Things
(IoT). With extensive experience in access control, biometric and
behavior-metric identity verification, security and privacy,
encryption and data protection, payments, miniaturization and
sensor technologies, Nxt-ID develops and markets groundbreaking
solutions for payment and IoT applications. Its industry-leading
technology products and solutions include MobileBio®, a suite of
biometric solutions that secure consumers' mobile platforms, the
Wocket™, a next-generation smart wallet and the Flye, a digital
credit card developed in collaboration with WorldVentures.
Nxt-ID includes three mobile and IoT-related subsidiaries:
LogicMark, LLC, a manufacturer and distributor of non-monitored and
monitored personal emergency response systems ("PERS") sold through
dealers/distributors and the United States Department of Veterans
Affairs; Fit Pay, Inc., a proprietary technology platform that
delivers end-to-end solutions to device manufacturers for
contactless payment capabilities, credential management,
authentication and other secure services within the IoT ecosystem,
and 3D-ID LLC, which is engaged in biometric identification and
authentication. Learn more about Nxt-ID at http://www.nxt-id.com.
Fit Pay and the Fit Pay Payment Platform are the sole property of
Fit Pay, Inc. For Nxt-ID Inc. corporate information contact:
info@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.
Media Contacts:
Chris Orlando
chris.orlando@nxt-id.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc.