Nxt-ID, Inc. today announced that its wholly-owned subsidiary LogicMark will commence field testing of its newly designed WiF...
June 30 2020 - 8:30AM
Nxt-ID, Inc. (NASDAQ: NXTD) today announced that its
wholly-owned subsidiary LogicMark, LLC will commence field testing
of its newly designed WiFiNotifi device, a Personal Emergency
Response System (PERS) that has been designed in order to provide
seniors and their families and friends with peace of mind. For
seniors who are living independently, and in many cases alone or in
assisted living facilities, the WiFiNotifi device will allow them
to alert friends and family via text messaging if they need medical
assistance with the touch of a button on a wearable pendant. The
WiFiNotifi system will use their existing Wi-Fi and internet
connection to send the message and allow the friend or family
member to respond to the text with a phone call from their
smartphone. After initiating the call, the friend/family member can
initiate a 3-way call to the local first responders if they
determine that the user requires medical emergency assistance. In
addition, there will be
No Monthly Monitoring Fees
associated with the WiFiNotifi system as it utilizes the existing
Wi-Fi network with-in the home or senior living facility.
The WiFiNotifi device is a lightweight pendant
that can be worn on the wrist, a belt clip, or on a lanyard. The
device can be activated either by pressing a single button or by
the built-in fall detection to initiate a text message to
family/friends. With a built-in speaker and microphone in the
pendant, the communication between the parties will allow the user
to clearly communicate their situation to get the appropriate
medical assistance. The device has no base station, requires no
landline, nor cellular connection, no service contract and no
monthly monitoring fees. Vin Miceli, CEO for Nxt-ID, Inc. commented
that “the Company is very excited about the prospects of the new
WiFiNotifi product and believes that this product has great
potential in terms of enhancing and growing the Company’s top line.
The product is a very good value proposition for the consumer and
will definitely expand our revenue reach into different revenue
channels.”
After completion of the field testing phase,
which we expect to take approximately 30 – 45 days, the WiFiNotifi
device will be sold through direct to consumer channels, dealers
and medical device distributors and the United States Department of
Veteran Affairs. “With many seniors living on a fixed income, it’s
important that we offer a solution that provides seniors and their
family with an option to have protection in their home and peace of
mind that they can afford without incurring monthly monitoring
fees,” said Kevin O’Connor, President of LogicMark. “We have seen
how the Covid-19 Pandemic disproportionately impacted seniors, and
for those seniors living alone this product will provide them with
a cost effective option to stay connected and reach out for medical
assistance.”
The WiFiNotifi device will also be sold to
senior independent and assisted living facilities, providing an
efficient way for residents to notify staff when they require
assistance. If a resident falls or presses the button on the
pendant, the staff will be notified immediately and can initiate a
two-way voice call to speak with the resident to quickly determine
what they need. “It will provide senior living facilities with a
cost effective option to utilize their existing infrastructure and
improve notification and communication between residents and staff
in an emergency,” said O’Connor, when discussing the potential in
the institutional market. Added Vin Miceli, Nxt-ID CEO: “This is an
important corporate initiative for our Company. Even before the
COVID pandemic began, we were looking for ways to open up new
distribution channels. The WiFiNotifi device will further this
long-term strategic objective of our Company at opening up new
channels and providing easier access to a product that we believe
will become increasingly important to families wanting to assure
immediate access to loved ones who may be living remotely.”
LogicMark is a leading provider of PERS devices
and has been providing systems with no monthly fees that allow
seniors to contact friends, family and 911 in the event of an
emergency since 2006. In addition to the WiFiNotifi product,
LogicMark also provides no monthly fee products that communicate
over landline and cellular networks.
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 ("PERS") 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
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