Institutional Investors Convert Debentures to Equity
JERICHO, N.Y., Aug. 15 /PRNewswire-FirstCall/ -- bioMETRX, Inc. (OTC Bulletin Board: BMRX), a leading developer and supplier of consumer biometric products, today announced that it is has provided notice to certain holders of its Series B common stock warrants that such holders must surrender said warrants to the company by August 25, 2007.
The Company notified holders of 375,000 series B $0.10 warrants that it has elected to pay such holders $0.12 per share, pursuant to the warrant documents by providing contractual 10 days written notice of said action. The Company has fixed the call date of such warrants as of August 15, 2007. The warrant holders so notified must return the series B warrants by August 25, 2007 to receive payment. The holders so notified do not have the right to exercise the series B warrants after the call date.
The company also announced that in connection with previous financings totaling $3,100,000, that $1,175,000 of that debt has been converted to equity by such holders.
About bioMETRX, Inc.
bioMETRX, Inc. designs, develops and markets biometrics-based products to the consumer, market under the common brand name - smartTOUCH(TM); bioMETRX Technologies, Inc. designs and engineers biometrics-based products for the home security and consumer electronics markets; smartTOUCH Consumer Products, Inc. tests and markets the company's biometrically secured products
For more information on bioMETRX and/or the company's smartTOUCH line of products including the Garage Door Opener, visit the Company website at http://www.biometrx.net
Safe Harbor Statement: This release may contain certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release with respect to bioMETRX's business, financial condition or results of operations, as well as matters of timing and the prospective terms of any transaction described are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond bioMETRX's control with respect to market acceptance of their technology and/or products, whether financing will be available, the effect of the application of acquisition accounting policies as well as certain other risk factors which are and may be detailed from time to time in bioMETRX's filings with the Securities and Exchange Commission.
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