NXT-ID, Inc. - (NASDAQ: NXTD) Alert - October 13, 2016

NXT-ID, Inc. Releases Preliminary Results for the Quarter Ended September 30, 2016


Secures Institutional Round of Financing of $19.5M

MELBOURNE, Florida, October 13, 2016 /PRNewswire/ --NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce market announces selected preliminary results for the quarter ended September 30, 2016.

Revenues were approximately $3,000,000 for the three months ended September 30, 2016 compared to $418,128 for the same period in 2015. Revenues from the recent LogicMark acquisition were included from July 25, 2016, and accounted for approximately 90% of the increase from the comparative period in 2015. The operating loss for the three months ended September 30, 2016 narrowed to approximately $500,000 compared to an operating loss of $3,003,496 for the same period in 2015. The net loss for the three months ended September 30, 2016 was approximately $1,500,000 after approximately $1,000,000 in interest expense compared to a net loss of $3,543,313 for the three months ended September 30, 2015.

"Our recent acquisition, LogicMark, has performed well since July 25, 2016 and was a major contributor to the improved results," said Gino Pereira, Chief Executive Officer of NXT-ID, Inc. "We also continue to make good progress on our collaboration with WorldVentures to develop their innovative smart card. We are planning to commence deliveries on the outstanding $15 million purchase order in the last quarter of 2016. We expect the last quarter of 2016 to show continued improved results as we will have a full quarter contribution from LogicMark as well as smart card deliveries to WorldVentures."

Preliminary Results

The results provided in this press release are preliminary and subject to completion and review of Nxt-ID's 2016 third quarter financial statements in conjunction with the Company's 2016 third quarter Form 10-Q filing, and therefore they are subject to change. Nxt-ID intends to report final results for the 2016 third quarter on or about November 14, 2016, after market close. Nxt-ID's earnings press release and prepared remarks reviewing its financial results and guidance will be made available on the Investor Relations section of its website.

About NXT- ID Inc. - Mobile Security for a Mobile World

NXT-ID, Inc.'s innovative MobileBio® solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio suite of biometric solutions that secure consumers' mobile platforms. With extensive experience in Biometric Identity Verification, Security and Privacy, Encryption and Data Protection, Payments, Miniaturization and Sensor technologies, the Company partners with industry leading companies to provide solutions for modern payment and IoT applications.

http://nxt-id.com/, http://wocketwallet.com/, http://www.logicmark.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.

NXT-ID Inc. Contact :

Corporate info: info@nxt-id.com

Media:

D. Van Zant
1-800-665-0411
press@nxt-id.com

SOURCE NXT-ID, Inc

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Recent NXTD News:

NXT-ID, Inc. To Exhibit at Money20/20, Leading Payments & FinTech Conference, October 23-26


WorldVentures to Showcase New Smart Card at NXT-ID Booth

MELBOURNE, Florida, September 19, 2016 /PRNewswire/ --NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce announces it will be presenting at Money20/20, in Las Vegas, October 23-26, 2016 in Booth 3532. Money20/20 is one of the largest global events covering payments and financial services innovation for connected commerce.

NXT-ID, Inc will be presenting its portfolio of secure mobile and payment technology and meeting with industry leaders to explore new opportunities and ventures.

WorldVentures, will also be showcasing its new smart card developed by NXT-ID. The smart card, currently in alpha testing, is intended to allow WorldVentures' travel club members to load up to 10 records (credit cards, loyalty cards, identity cards, and other data), use as a payment method in the same way as a credit card, where accepted earn loyalty points at select restaurants worldwide, and engage and interact socially with other DreamTrips Members worldwide through its communication features.

About Money 2020

Money20/20 organizes the largest global events enabling payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data and technology. With 10,000+ attendees, including more than 1,000 CEOs, from over 3,000 companies and 75 countries, expected at its 2016 U.S. event, Money20/20 is critical to realizing the vision of disruptive ways in which consumers and businesses manage, spend and borrow money. Money20/20 will be held at The Venetian in Las Vegas, October 23-26, 2016. ​

In just four years, Money20/20 fundamentally disrupted the status quo and established an entirely new and groundbreaking scale and standard for industry events. https://www.money2020.com

About WorldVentures

WorldVentures sells travel club memberships providing a diverse set of lifestyle products and experiences. The company's goal is to help Independent Representatives, DreamTrips™ Members and employees achieve more fun, freedom and fulfillment in their lives. WorldVentures uses the direct sales model to go to market with active Representatives and Members in 29 markets. http://www.worldventures.com

About NXT- ID Inc. - Mobile Security for a Mobile World

NXT-ID, Inc.'s innovative MobileBio® solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio suite of biometric solutions that secure consumers' mobile platforms. With extensive experience in Biometric Identity Verification, Security and Privacy, Encryption and Data Protection, Payments, Miniaturization and Sensor technologies, the Company partners with industry leading companies to provide solutions for modern payment and IoT applications.

http://nxt-id.com/, http://wocketwallet.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.

NXT- ID Inc Contact :

Corporate info: info@nxt-id.com

Media:
D. Van Zant
+1-800-665-0411
press@nxt-id.com

SOURCE NXT-ID, Inc

NXT-ID Awarded US Patent on the UN-Password™


Risk Aware End-to-End Multi-Factor Authentication via Dynamic Pairing

MELBOURNE, Florida, August 2, 2016 /PRNewswire/ --NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce market announces the issuance of patent number 9407619 by the USPTO for risk aware end to end multi-factor authentication.

Gino Pereira, Chief Executive Officer of the Company, said "This is a significant patent for our Company strengthening our core technology in secure information exchange. We intend to implement this authentication and security capability with the WorldVentures smart card, as well as other non- smart card related product ventures under development."

This invention relates to a method and system for authentication and securing data exchanged between two devices without sharing keys or other information that could be hacked. A first device needs to authenticate a second device, before exchanging any information with the second device. In this case the first and second devices can be a mobile phone, a smart card, a computer operating over the internet, a server or a software application not resident on the computer.

To approve the second device, the first device (the authenticator in this case) gathers data from the second device to authenticate the later. A combined authentication score will be generated by the first device based on these historical information exchanges. An encryption key is then generated by the first device and it is used to encrypt that combined authentication score to yield a new dynamic pairing code. Both the first and second devices can decrypt the new dynamic pairing code.

Location data, user behavior, transactions and biometrics are examples of identifiers that may be used to authenticate devices.

Rather than blindly trusting a certificate from a third party certificate authority, as is commonly done today, secure transactions can be now be done with dynamic pairing codes on a transaction by transaction basis.

About NXT- ID Inc. - Mobile Security for a Mobile World

NXT-ID is an emerging growth technology company that is focused on products, solutions, and services for security on mobile devices. Our core technologies consist of those that support digital payments, biometric identification, encryption, sensors, and miniaturization. We have three distinct lines of business that we are currently pursuing: mobile commerce, primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. Our initial efforts have primarily focused on the development of our secure products for the growing m-commerce market, most immediately, a secure mobile electronic smart wallet, the Wocket®. The Wocket® is a smart wallet, designed to protect your identity. http://nxt-id.com/, http://wocketwallet.com/

Product images are available for media at: http://press.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.

NXT- ID Inc Contact:

Corporate info: info@nxt-id.com

Media:
D. Van Zant
+1-800-665-0411
press@nxt-id.com

SOURCE NXT-ID, Inc

NXT-ID Completes Acquisition of LogicMark


Secures Institutional Round of Financing of $19.5M

MELBOURNE, Florida, July 26, 2016 /PRNewswire/ --NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce market announces it has completed its acquisition of LogicMark, LLC ("LogicMark"), a leading provider of unmonitored personal emergency response devices (PERS).

NXT-ID, Inc. has completed its previously announced acquisition of LogicMark for $20,000,000, and $900,000 of stock and warrants. In addition, LogicMark's selling equity holders may be paid an earn-out of up to $6,500,000 based on achieving certain performance goals within the next 18 months. The acquisition was financed with a $15,000,000 senior secured debt facility provided by ExWorks Capital Fund and $4,500,000 of preferred equity provided by several institutional investors.

Aegis Capital Corp. served as exclusive placement agent for the debt and equity financing, as well as financial advisor to NXT-ID. Livingstone, an international mid-market M&A and debt advisory firm, served as advisor to Logicmark.

For the year ended December 31, 2015 LogicMark had audited revenue and net profit of $ 11.1 million and $ 3.1 million respectively. For the three months ended March 31, 2016, LogicMark had unaudited revenue and net profit of $ 3.3 million and $ 1.0 respectively.

LogicMark is comprised of a staff of 22 full-time professionals, 3 part-time professionals, and 5 contractors

Gino Pereira, Chief Executive Officer of the Company, said, "This is a significant milestone for the Company. LogicMark is a market leader in unmonitored PERS devices and we believe we can potentially add significant value by integrating our voice biometric technology as well as detection sensors and miniaturization to future versions of LogicMark products. In addition, the Company believes it can potentially enhance the retail presence of LogicMark products."

Kevin O'Connor, Logicmark's President, added, "We are pleased that the acquisition is complete and look forward to being part of the NXT-ID team. With our combined resources we are confident that we will bring new solutions to the market, and expand our current offerings with new channel partners."

About LogicMark

Founded in 2006, LogicMark has revolutionized the personal emergency response system (PERS) industry by incorporating patented two-way voice communication technology directly in the medical alert pendant. With a focus on innovation, LogicMark provides a unique offering of medical alert systems that contribute to improving the quality of life for those choosing to continue to live independently. https://www.logicmark.com/

About NXT- ID Inc. -Mobile Security for a Mobile World

NXT-ID is an emerging growth technology company that is focused on products, solutions, and services for security on mobile devices. Our core technologies consist of those that support digital payments, biometric identification, encryption, sensors, and miniaturization. We have three distinct lines of business that we are currently pursuing: mobile commerce, primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. Our initial efforts have primarily focused on the development of our secure products for the growing m-commerce market. http://nxt-id.com

Product images are available for media at: http://press.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.

NXT- ID Inc. Contacts:
Corporate info: info@nxt-id.com
Media: D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc
 

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About NXT-ID, Inc.

The founders of Nxt-ID have been involved in advanced biometric and security technology development for leading organizations within government and the corporate sector. The company, which was founded in 2011, has established an impressive portfolio of technology patents and biometric security solutions for corporations, government agencies and consumers.

With extensive experience in identity verification and encryption, Nxt-ID has developed advanced technologies for the capture, analysis and authentication of individual’s identities. With a particular focus on the growing mobile space, Nxt-ID offers innovative verification solutions with its MobileBio™ products.

In 2013, Nxt-ID launched Wocket®, its next generation smart wallet. Designed to protect the identity of users, it eliminates nearly all the physical cards in a wallet without needing a smart phone or internet connection. In addition to passwords and private notes, virtually any credit, debit, membership gift or loyalty card in a wallet today can be loaded and protected on Wocket. The included WocketCard works virtually anywhere magnetic stripe cards are accepted today and can only be used with the owner’s biometric (voice) stamp of approval or with a PIN. The Wocket can be stylishly accessorized to meet the taste and lifestyle of users, making it a true replacement for the conventional wallet.

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Corporate Profile

NXT-ID Inc is a United States-based company that provides security solutions to mobile devices. Our innovative MobileBio® solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio® suite of biometric solutions that secure consumers' mobile platforms led by the Wocket™ ; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com/

PRODUCTS

Wocket®, by NXT-ID, is a next generation smart wallet. Designed to protect your identity and replace all the cards in your wallet without needing a smart phone or internet connection, Wocket can be stylishly accessorized to meet your taste and lifestyle. The included WocketCard works virtually anywhere credit cards are accepted and can only be used with your biometric (voice) stamp of approval. Virtually any card in your wallet today can be protected with Wocket.

Learn more about Wocket®
www.wocketwallet.com

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3D-ID provides visual solutions to effectively solve issues that cannot be addressed in a conventional two-dimensional format.

The need for domestic and commercial security has increased dramatically over the last decade. Offices, hospitals, prisons and other areas receive thousands of visitors each day. 3D-ID provides access control through biometric facial analysis and provides confidence that only authorized personnel are admitted.

The modern warfighter needs tools that give tactical superiority in order to carry out difficult missions unharmed. Any piece of equipment that can give better awareness and vision of their surroundings is extremely valuable. In the urban battlefield where threats are closer and more unpredictable, 3D-ID peripheral and rear vision solutions are especially valuable.

The members of 3D-ID and their partners have spent many years developing three-dimensional solutions.

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MobileBio® FaceMatch® is a modular facial recognition platform technology that can be applied to a variety of platforms including smartphones, tablets, laptops and desktop computers. Depending on the number of cameras available and level of security desired, FaceMatch® uses advanced facial recognition algorithms to allow the user access to their device, data, or door.

The technology can be hosted on the device or configured to access cloud computing for remote authentication via NXT-ID’s BioCloud® Authentication and Identity Management Services. The technology will also soon be available as an “app” on the iPhone and Android platforms.

One of the major areas of concern with facial recognition is user privacy with most companies utilizing private data for other marketing purposes. A FaceMatch® based facial recognition system can be customized to retain no personal information on the user as required to address any privacy issues.

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MobileBio™ VoiceMatch™ is a modular voice recognition technology that can be applied to a variety of platforms including smartphones, tablets, laptops and desktop computers. VoiceMatch™ can be embedded into virtually any device, providing superior security via voice biometrics that ensures the identify of the user prior to allowing access.

For individuals who use a variety of devices where the identification of the specific individual is important, the MobileBio™ VoiceMatch™ biosensor can communicate with the intended device directly or remotely. Verification can be performed locally or through the BioCloud™ identity management and information assurance platform.

VoiceMatch™ can also be customized for a number of other applications including remote collection and transmission of biometric data by the Department of Justice and the Department of Defense. Passive authentication on local devices such as smartphones, laptops and digital wallets allows for convenient and non-intrusive access.

NOTE: All biosensor based products follow National Institute of Standards and Technology’s (NIST) Special Publication 500-288 Specification for Web Service-Biometric Devices (WS-BD).

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MobileBio™ BioCloud™ is a cloud-based identity authentication solution for consumer applications and enterprise security.

With NXT-ID’s BioCloud™, users and corporations can now be assured secure access to their sensitive data through simple, effective identity authentication and secure encryption

MobileBio™ BioCloud™ authentication and identity management services provide biometric authentication, identity management, and secure remote access to a number of security critical operations such as online banking and mobile payments. This secure service supports financial institutions and corporations by minimizing capital expenditure on enterprise management security, and by providing essential end-to-end encryption of sensitive information. With the increased demand and use of mobile devices, MobileBio™ BioCloud™ provides advanced biometric authentication for users accessing corporate data and performing financial transactions from mobile devices.

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