Navigation Links
NXT-ID Inc. Files 2016 Annual Report on Form 10-K
Date:4/17/2017

MELBOURNE, Florida, April 17, 2017 /PRNewswire/ --

NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a security technology company, announces the filing of its 2016 Annual Report on Form 10-K on Thursday April 13, 2017 with the U.S. Securities and Exchange Commission.

The Annual Report on Form 10-K is available in the Investor Relations section of the Company's website at http://www.nxt-id.com under "SEC Filings," as well as on the SEC's website at http://www.sec.gov.

2016 Year Highlights:

  • Acquisition of LogicMark LLC completed July 2016.
  • Revenue for 2016 was $7,736,320 compared to $616,854 for the previous year; a more than ten-fold increase.
  • Gross Profit for 2016 was $3,301,452 compared to a gross loss of $(1,039,039) in 2015.
  • Operating expenses were flat in 2016 compared to 2015 at approximately $10,000,000.
  • Operating Loss for 2016 was reduced to $(6,710,088) compared to $(10,924,297) in 2015.
  • Net cash used in operating activities in 2016 was substantially reduced at $(950,048) compared to $(8,620,672) for 2015

Fourth Quarter Highlights:

  • Revenue for Q4 2016 was $4,562,169 compared to $83,325 for the same period in previous year.
  • Gross Profit for Q4 2016 was $2,014,103 compared to a gross loss of $(1,206,970) in Q4 2015.
  • Operating expenses were $2,616,975 in Q4 2016 compared to $2,359,930 in Q4 2015.
  • Operating Loss for Q4 2016 was reduced to $(602,872) compared to $(3,398,969) in Q4 2015.
  • For the first time in the Company's history, net cash generated by operating activities in Q4 2016 was $2,066,041 compared to net cash used in operating activities of $(2,277,729) for Q4 2015; a positive swing of $4,343,770.

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

NXT-ID, Inc. (NXTD) is a security technology Company providing security for finance, assets, and healthcare. The Company's innovative MobileBio® solution mitigates risks associated with mobile computing, m-commerce, and smart OS-enabled devices. 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 the Internet of Things ('IoT') applications. The Company's wholly owned subsidiary, LogicMark, LLC, manufactures and distributes non-monitored and monitored personal emergency response systems ('PERS') sold through the United States Department of Veterans Affairs ('VA'), healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors. http://www.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 Contact:
D. Van Zant
+1-800-665-0411
press@nxt-id.com



'/>"/>
SOURCE NXT-ID, Inc.
Copyright©2017 PR Newswire.
All rights reserved


Related biology news :

1. NXT-ID Inc. Announces Appointment of Two New Independent Directors to Board
2. Wocket Smart Wallet Consumer Ads and NXT-ID Technology Ads to Broadcast in New York Markets Starting Week of March 21
3. NXT-ID Expands on Recent Announcement of Strategic Alliance With World Ventures
4. NXT-ID Exhibits Wocket Smart Wallet at CES 2016; Demonstrating New NFC and Other Contactless Payment Capabilities
5. NXT-ID Featured on The RedChip Money Report Airing on Bloomberg Network
6. NXT-ID, Inc. Teams Up with StackCommerce to Sell Wocket Smart Wallet for Holiday Season
7. NXT-ID, Inc. Announces Collaboration with Celebrity Joey Fatone
8. NXT-ID, Inc. to Exhibit Wocket Smart Wallet at Money20/20; Largest Global Event Focused on Payments and Financial Services Innovation
9. NXT-ID Featured at FiRe 2015 Conference as Strategic News Service FiReStarter of the Year Company
10. NXT-ID Announce Sales Update for Q3 and Introduction of Wocket Wagon
11. NXT-ID, Inc. Announces Stanley E. Washington, 17 Year Veteran at American Express, Joins Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/30/2017)... March 30, 2017  On April 6-7, 2017, Sequencing.com ... Genome hackathon at Microsoft,s headquarters in ... will focus on developing health and wellness apps that ... Hack the Genome is the first hackathon for ... world,s largest companies in the genomics, tech and health ...
(Date:3/28/2017)... 28, 2017 The report "Video ... Monitors, Servers, Storage Devices), Software (Video Analytics, VMS), and ... Global Forecast to 2022", published by MarketsandMarkets, the market ... is projected to reach USD 75.64 Billion by 2022, ... The base year considered for the study is 2016 ...
(Date:3/23/2017)... The report "Gesture Recognition and Touchless Sensing Market by Technology (Touch-based and ... 2022", published by MarketsandMarkets, the market is expected to be worth USD 18.98 ... Continue Reading ... ...      ...
Breaking Biology News(10 mins):
(Date:9/20/2017)... ... September 20, 2017 , ... ... of a study examining the effects of exoskeleton-assisted walking on gait parameters ... (SCI). The article, "Neuromechanical adaptations during a robotic powered exoskeleton assisted walking ...
(Date:9/19/2017)... ... 19, 2017 , ... Participants of this educational webinar will ... Along with the advantages and disadvantages of ductless, filtered fume hoods, they will ... laboratory. , Attendees will learn from an industry expert about the different types ...
(Date:9/19/2017)... ValGenesis Inc., the global leader in Enterprise ... the strategic partnership with VTI Life Sciences (VTI). This ... using the latest technology available in the ValGenesis VLMS ... efficient and cost-effective validation services using ValGenesis VLMS. VTI ... VLMS system. The ...
(Date:9/18/2017)... ... September 18, 2017 , ... Transportable biomass conversion ... and torrefied wood is the topic of a September 27 webinar ... economic viability of transportable biomass conversion facilities for producing biochar, briquettes, and torrefied ...
Breaking Biology Technology: