NXT-ID Inc. (NASDAQ:NXTD)
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3 Months : From Sep 2018 to Dec 2018
BOSTON, October 5, 2018 /PRNewswire/ --
SoundView Technology Group (http://soundview.co) releases the following company update for NXT-ID, Inc. (NASDAQ: NXTD ).
Upcoming Spin-off to Unlock Value
Kris Tuttle, email@example.com
NXT-ID management announced their plans to separate the company into two publicly-traded entities. The Fit Pay business and related FinTech assets will be spun off in a tax-free distribution to existing shareholders. The remaining business and shares will be anchored by the LogicMark business plus some other assets and IP.
The motivation behind the move is creating more value for investors and making it easier for each company to grow and develop their own business and investor following.
The two primary businesses are complementary but very different. The payments business Fit Pay is building is about long-term recurring revenue that ramps over time. Fit Pay is also launching a payments token that is compatible with crypto currencies like Bitcoin. LogicMark is a more well-established healthcare business with substantial revenues, steady growth and margins.
The full report can be read at:
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SoundView serves as a strategic advisor to Nxt-ID and provides advisory and other services including strategy advice, company positioning, investor communication methods and ongoing technology and market research. See our full page of practices and disclosures which should be attached to this report. If not, it is available at http://soundview.co/practices
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