Nxt-ID, Inc. (NASDAQ:NXTD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02(b)
On March 8, 2018, Robin D. Richards, a member of the board of directors (the “Board”) of Nxt-ID, Inc. (the “Company”), notified the Company of his intention to resign as a member of the Board, effective March 9, 2018. Mr. Richards has served as an independent director of the Board since April 11, 2017, and was a member of the Company’s Compensation Committee. Mr. Richards’ resignation was not due to any disagreement with the Board or the Company’s operations, policies or practices.
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.