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NXTD

NXT-ID Inc. NASDAQ Capital Market
$1.9
Open: $1.93 High: $2.3 Low: $1.8 Close: $1.892
Range: 2021-02-24 - 2021-02-25
Volume: 11,676,710
Market: Open
Powered by Finage Stock APIDelayed data
NXTD
NXT-ID Inc. 288 North Drive Melbourne FL, 32904 http://www.nxt-id.com
Nxt-ID Inc provides products, solutions, and services that have a need for biometric secure access control. Its lines of business include mobile commerce, law enforcement and biometric access control applications and law enforcement.
  • CEO: Gino Miguel Pereira
  • Employees: 55
  • Sector: Industrials
  • Industry: Consulting & Outsourcing
NXTD News
Latest news about the NXTD
  • NXT-ID Reduces Term Debt by $5.0 Million

    Oxford, Connecticut, Feb. 09, 2021 (GLOBE NEWSWIRE) -- NXT-ID, Inc. (“NXTD” or the “Company”) (NASDAQ: NXTD), a provider of healthcare devices and services, announced today it has made a prepayment of approximately $5.0 million in principal of its senior secured debt. As a result of this prepayment, the Company reduced the outstanding principal amount to approximately $5.7 million. Commented Vincent S. Miceli, CEO of NXTD: “I’m pleased to report that we have nearly halved our debt load so early into 2021. The reduction in our debt will save us approximately $700,000 in interest costs annually. That savings will enable us to invest more capital in our business and will play a key role in our continued ability to weather the COVID storm and better position us to get our new products to market quicker and open up new distribution channels as we have indicated in our previous shareholder updates.” Miceli further commented that de-levering the Term Debt is and has been a key objective for the Company and this significant prepayment reflects our continued commitment to building shareholder value. To date, the Company has repaid approximately $10.7 mil or 65% of its Term Loan from inception. 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 Contact: Vincent S. Miceliinvestors@nxt-id.com

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  • Nxt-ID, Inc. Provides a General Update on the Status of its Business

    Oxford, Connecticut, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company,” “we,” or “our”), a provider of healthcare devices and services, provides a general update on the status of its business. Commented Vincent S. Miceli, CEO: “As the Company enters into 2021, I would like to begin providing the shareholders of Nxt-ID, Inc. with more frequent updates on the current status of the business and the progress that we are making as it relates to our new product initiatives. The intention of these updates will be to provide supplemental information to our shareholders and these updates will be in addition to our SEC communications and the quarterly investor conference calls that we have to discuss the Company’s operating results.” Revenues for the month of December 2020 and January 2021 thus far are beginning to show some improvement over the average monthly revenues for the April through November 2020 timeframe. While it is too premature to declare that the COVID-19 impact on the business is behind the Company, there are some positive trends to report: Certain VA Hospitals and clinics are beginning to place orders in line with pre-COVID-19 practices and purchasing patterns. We are beginning to see some more bulk ordering from certain of the VA hospitals and we are also seeing some of the hospitals increasing their respective staffing levels.The Company has rolled out its new 4G version of the Guardian Alert Plus and the product has been well received. The Company believes that the 4G version of the Guardian Alert is the best value proposition available for the VA Hospitals and clinics.The Company recently submitted its GSA application with the U.S. government. We expect to receive a contract by the end of the first quarter of 2021.The WiFi product is progressing as anticipated. We will commence final field testing in late January 2021 and we are on track for a June 2021 product launch.The Company is also in the process of redesigning its websites for both Nxt-ID, Inc. and LogicMark with a primary focus on product exposure and brand awareness and our goal is to begin generating retail sales of our products off of the websites.The Company continues to work very hard to achieve financial stability in this very difficult time. Our December offering was very successful and provided the Company with funding that will now enable the Company to hire new personnel in sales and marketing and will also allow the Company to reinstitute an advertising and marketing campaign focused on product awareness and brand recognition. Concluded Miceli: Thank you to all of our shareholders for their continued support and we look forward to providing you with additional commentary and periodic status updates on the business as we move forward into 2021. 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 Contact: Vincent S. Miceli investors@nxt-id.com

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  • Nxt-ID, Inc. Regains Compliance With Nasdaq Minimum Bid Price Requirement

    Bid Price of Listed Securities Exceeds $1 at Closing for Eleven Consecutive Trading DaysOxford, Connecticut, Jan. 05, 2021 (GLOBE NEWSWIRE) -- 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.comForward-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. Miceliinvestors@nxt-id.com

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  • Nxt-ID's stock rockets toward back-to-back record gains, on massive volume

    Shares of Nxt-ID Inc. rocketed Thursday toward a second-straight record gain, and was on track for another day of record trading volume, although the company hasn't released any news. The company did not immediately respond to a request for comment. The Connecticut-based company provides technology products for use in biometric and behavior-metric identity verification, security, encryption and data protection and payments. The stock's rally comes after U.S. government agencies and SolarWinds Corp. suffered massive hacks this week, that were blamed on Russia. The stock rose 91.6% in afternoon trading Thursday, which would be the biggest percentage gain since the company went public in August 2013, breaking Wednesday's record rally of 89.5%. Volume was 304.8 million shares, just below Wednesday's one-day record volume of 308.2 million shares. The stock is the most actively traded on major U.S. exchanges. The stock has now run up 365.8% amid a four-day win streak. The stock has hiked up 378.5% over the past three months, while the ETFMG Prime Cyber Security ETF has advanced 18.4% and the S&P 500 has gained 10.8%.

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  • NXT-ID, INC. TO ADJOURN ANNUAL MEETING OF STOCKHOLDERS

    OXFORD, CONNECTICUT, Nov. 22, 2020 (GLOBE NEWSWIRE) --  Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”) today announced that the Company plans to adjourn the Annual Meeting of Stockholders, scheduled to be held on Monday, November 23, 2020 at 9:00 a.m. (Eastern Time), to Tuesday, November 24, 2020 at 9:00 a.m. (Eastern Time), to be held at the Company’s office at 288 Christian Street, Hangar C 2nd Floor, Oxford CT 06478. The Company is adjourning the Annual Meeting only with respect to Proposals Number 3 and Number 4. The Company will announce such adjournment at the currently scheduled Annual Meeting.The Company is adjourning the Annual Meeting to allow its retail stockholders additional time to vote and approve Proposals Number 3 and Number 4, which are described in the Proxy Statement. Proposal Number 3 authorizes the Company’s board of directors (the “Board”) to effect, at its discretion, a reverse stock split of the Company’s common stock at a specific ratio within a range from one-for-three to one-for-ten. Proposal Number 4 authorizes the Board to (i) effect a reverse stock split of all of the Company’s outstanding shares of Series C Non-Convertible Voting Preferred Stock by the same ratio that the Company’s Board selects for the reverse stock split of the Company’s common stock described in Proposal Number 3 and (ii) increase the stated value of the Series C Preferred Stock by the same amount as the ratio of the Series C Preferred reverse stock split.Each stockholder’s vote matters and is important no matter how many shares they own. The Company requests that its stockholders please take the time to read and respond to the Company’s proxy materials that were previously provided to them and vote promptly. Voting over the phone or on the Internet will require that its stockholders have their proxy control number available. That number is either printed on the voting instruction form, if stockholders received a physical copy of the proxy materials, or accessible through the voting portal, if the proxy materials were electronically delivered. Stockholders who have sold their shares but were a holder of record at the close of business on August 17, 2020, the record date for the Annual Meeting, remain entitled to vote. The Company encourages its stockholders who have already voted against the reverse stock splits to please reconsider voting. In particular, the Board encourages stockholders to vote “FOR” each of the proposals. It is critical that each stockholder vote and vote to support these proposals. The integrity of our Company and each stockholder’s investment will suffer tremendously if the Company is delisted; hence the importance of each vote.Stockholders who need assistance in submitting their proxy or voting their shares should call the Company’s proxy solicitor, Laurel Hill Advisory Group, at 888-742-1305.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

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  • Nxt-ID, Inc. Announces Investor Webcast to Discuss the Financial Results for the Six and Three Months Ended June 30, 2020 and to Provide a General Corporate Update

    Oxford, Connecticut, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”), a provider of healthcare devices and services, announces results for the six and three months ended June 30, 2020.Financial Highlights and results from the second quarter included: * Revenue for the six and three months ended June 30, 2020 was approximately $6.2 million and $2.5 million, respectively, down significantly in both periods as compared to the same 2019 periods. * Gross profit for the six and three months ended June 30, 2020 was approximately $4.6 million and $1.8 million, respectively compared to approximately $6.6 million and $3.4 million for the same 2019 periods. * Operating expenses for the six and three months ended June 30, 2020 were approximately $3.7 million and $1.9 million, respectively compared to $5.5 million and $2.8 million for the same 2019 periods. * Operating income for the six months ended June 30, 2020 was $936K and for the three months ended June 30, 2020, we had an operating loss of $103K, compared to operating income of $1.1 million and $0.6 million for the same 2019 periods. * Non GAAP Operating income for the six and three months ended June 30, 2020, adjusted for depreciation, amortization and non-cash charges was approximately $1.4 million and $0.1 million, respectively, compared to $1.9 million and $1.0 million for the same 2019 periods. * Net Cash provided by operating activities in the six months ended June 30, 2020 was $0.6 million as compared to $0.7 million in the six months ended June 30, 2019. * Repaid approximately $1.2 million in term debt during the six months ended June 30, 2020."2020 thus far has been very challenging and dynamic for the Company as it has been for the rest of the world. We had made significant progress in terms of right sizing our business and paying down our term debt facility and then COVID-19 struck the world. Like many other companies, our second quarter 2020 operating results were significantly impacted by COVID-19. In spite of the reduction in our revenues, we were very close to breakeven for the first six months ended June 30, 2020” said Vin Miceli, Chief Executive Officer of Nxt-ID. “We continue to make significant progress with regards to our new product development efforts and we remain very optimistic about our future prospects in a post COVID-19 environment.”Concluded Miceli: “I look forward to explaining the quarter's results, updating our shareholders and providing some context regarding our Company's path forward.”Full financial results and Management's Discussion and Analysis can be found in the Company's Form 10-Q for the six and three months ended June 30, 2020, which was filed with the Securities and Exchange Commission ("SEC") on August 14, 2020, and can be found at https://www.sec.gov/Archives/edgar/data/1566826/000121390020022304/f10q0620_nxtidinc.htmThe management team will host an investor webcast to discuss the financial results for the six and three months ended June 30, 2020 and update shareholders on general corporate developments. The webcast will commence on Tuesday, August 18, 2020 at 4:10 PM (ET). 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/mmc/p/fr9bi5gb.For those wishing to participate by telephone, please use the following dial-in credentials:US/CANADA Participant Toll-Free Dial-In Number: (877) 644-5287 US/CANADA Participant International Dial-In Number: (281) 973-6282 Conference ID: 5298956About 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.comForward-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.“Non-GAAP Operating Income” is defined as Operating Income as reported plus depreciation expense, amortization of intangibles and stock compensation expense. Non-GAAP Operating Income is commonly used by management and investors as an indicator of operating performance and liquidity. Non-GAAP Operating Income is not considered a measure of financial performance under GAAP and it should not be considered as an alternative to net income.Media Contacts:Vincent S. Miceli investors@nxt-id.com

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  • Nxt-ID, Inc. today announced that its wholly-owned subsidiary LogicMark will commence field testing of its newly designed WiFi Notification system in early July 2020.

    This device will assist seniors to live more independently by easily notifying family, friends and first responders when they need emergency medical assistance. Oxford Connecticut, June 30, 2020 (GLOBE NEWSWIRE) --  Nxt-ID, Inc. (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.

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  • Edited Transcript of NXTD earnings conference call or presentation 2-Apr-20 8:10pm GMT

    Q4 2019 NXT-ID Inc Earnings Call

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  • Edited Transcript of NXTD earnings conference call or presentation 19-May-20 8:10pm GMT

    Q1 2020 NXT-ID Inc Earnings Call

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  • Nxt-ID, Inc. Announces Investor Webcast to Discuss the Financial Results for the Three Months Ended March 31, 2020 and to Provide a General Corporate and Business Update

    Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”), a provider of healthcare devices and services, announces results for the three months ended March 31, 2020. Full financial results and Management's Discussion and Analysis can be found in the Company's Form 10-Q for the three months ended March 31, 2020, which was filed with the Securities and Exchange Commission ("SEC") on May 15, 2020, and can be found at https://www.sec.gov/Archives/edgar/data/1566826/000121390020012636/f10q0320_nxtidinc.htm.

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  • Nxt-ID, Inc. Announces Investor Webcast to Discuss the Financial Results for the Twelve and Three Months Ended December 31, 2019 and to Provide a General Corporate and Business Update

    Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”), a provider of healthcare devices and services, announces results for the year and three months ended December 31, 2019. Revenue from continuing operations for the year and three months ended December 31, 2019 was approximately $17.1 million and $4.0 million, respectively, essentially flat in both periods as compared to the same 2018 periods. Gross profit from continuing operations for year and three months ended December 31, 2019 was approximately $12.8 million and $2.9 million, respectively compared to approximately $12.3 million and $2.8 million for the same 2018 periods.

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