Nxt-ID, Inc. (NASDAQ:NXTD) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On April 17, 2017, the Company issued a press release announcing
its financial results for the fourth quarter and fiscal year
ended December 31, 2016. A copy of the press release is attached
hereto as Exhibit 99.1 and is hereby incorporated by reference
herein.
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On April 11, 2017, the Board of Directors (the Board) of Nxt-Id,
Inc. (the Company) appointed Mr. Robin D. Richards and Mr. John
Bendheim to serve as new members of the Board, effective
immediately.
As non-employee directors of the Company, Messrs. Richards and
Bendheim will receive the same standard compensation provided to
all non-employee members of the Board of Directors. As such,
Messrs. Richards and Bendheim will each receive $20,000 of the
Companys common stock per fiscal quarter.
On April 11, 2017, the Company released a press release
announcing the appointment of Messrs. Richards and Bendheim to
the Board. The release is attached hereto as Exhibit 99.2.
Exhibits 99.1 and 99.2 contain forward-looking statements
regarding the Company, and include cautionary statements
identifying important factors that could cause actual results to
differ materially from those anticipated.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 99.1 | Press release of Nxt-ID, Inc. dated April 17, 2017. |
| 99.2 | Press release of Nxt-ID, Inc. dated April 11, 2017. |
About Nxt-ID, Inc. (NASDAQ:NXTD)
Nxt-ID, Inc. is a technology company. The Company is focused on products, solutions and services for security on mobile devices. The Company’s core technologies consist of those that support digital payments, biometric identification, encryption, sensors and miniaturization. It has three lines of business: mobile commerce (m-commerce), primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. It intends to use its core biometric facial and voice recognition algorithms to develop security applications (both cloud based and locally hosted) that can be used for companies, as well as individuals, law enforcement, the defense industry, and the United States Department of Defense. Its offerings include Wocket, a physical electronic smart wallet; the NXT Smartcard, a standalone smartcard; Wi-Mag, an antenna and payment technology, and 3D FaceMatch and 3D SketchArtist facial recognition products. Nxt-ID, Inc. (NASDAQ:NXTD) Recent Trading Information
Nxt-ID, Inc. (NASDAQ:NXTD) closed its last trading session down -0.06 at 1.56 with 67,022 shares trading hands.
