Nxt-ID, Inc. Regains Compliance With Nasdaq Minimum Bid Price Requirement
January 05 2021 - 8:45AM
Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”), a provider of
healthcare devices and services, today announced that on January 4,
2021, it received written notice from the Office of General Counsel
of The Nasdaq Stock Market LLC (“Nasdaq”) confirming that the
Company has regained compliance with the applicable Nasdaq minimum
bid price continued listing requirement (the “Minimum Bid Price
Requirement”) and the matter is now closed.
The Company has cancelled its Special Meeting of
Stockholders that was scheduled to be held on January 15, 2021. As
a result of regaining compliance with the Minimum Bid Price
Requirement, the Company no longer currently needs authorization to
effect a reverse stock split of the Company’s outstanding shares of
Common Stock at this time. The Nasdaq Hearings Panel has determined
to impose a monitoring period, pursuant to Listing Rule
5815(d)(4)(A), until July 5, 2021. For further information
regarding Nasdaq’s written notice, including the monitoring period
that has been imposed upon the Company, please see the Company’s
Current Report on Form 8-K that the Company is simultaneously
filing with the Securities and Exchange Commission and the
Company’s future filings to update shareholders on its compliance
during the monitoring period.
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 and
sensor technologies. Through its subsidiary, LogicMark LLC, Nxt-ID,
Inc. 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,
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:
Vincent S. Miceli
investors@nxt-id.com
NXT ID (NASDAQ:NXTD)
Historical Stock Chart
From Aug 2024 to Sep 2024
NXT ID (NASDAQ:NXTD)
Historical Stock Chart
From Sep 2023 to Sep 2024