Navigation Links
bioMETRX, Inc. Completes Sequiam Asset Purchase
Date:7/8/2008

JERICHO, N.Y., July 8 /PRNewswire-FirstCall/ -- bioMETRX Inc., (OTC Bulletin Board: BMRX), today announced that it has closed the purchase of the assets of its former competitor, Sequiam Corporation. The company also announced that it has completed the integration of those assets into the company's technology portfolio and consumer based biometric products, several of which already are being sold under the company's smartTOUCH brand.

The purchase price paid for those assets is 44 Shares of Preferred Stock plus a maximum of 256 additional Shares of such Preferred Stock, subject to future conditions of vesting. 88 of the additional shares of Preferred Stock will vest on or before December 31, 2008, depending on the Company's ability to secure additional financing and the other 168 shares will vest on or before December 31, 2010, depending on the Company's aggregate revenues in the next 2.5 fiscal years. The Company's revenues must reach $15,000,000 over a 30-month timeframe for all of the Preferred Shares to be issued. The shares issued are restricted securities that are subject to additional leak-out provisions after the holding period expires. There is no convertible debt tied to this transaction. As part of this transaction, BIL will convert $250,000 of debt into the company's common stock.

"We are excited to acquire new technology, customers, and vendor relationships that will increase our ability to afford a broad range of consumer products. The addition of manufacturing in China, and securing Fujitsu as a new OEM account, has provided us powerful additional momentum. This transaction is part of our expansion through acquisition strategy of companies and products that will help accelerate company growth through revenue generation, as well as to compliment our already popular smartTOUCH product line of finger recognition consumer products," noted Mark R. Basile, CEO at bioMETRX.

As the global leader in consumer biometric product enginee
'/>"/>

SOURCE bioMETRX Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology news :

1. bioMETRX, Inc. Gun Storage Products Endorsed by the Handgun Club of America
2. bioMETRX, Inc. Partners with Biometric Solutions, LLC to Deliver Next Generation Finger Activated Technology
3. bioMETRX, Inc. Garage Door Opener Named Best In Class
4. bioMETRX, Inc. Files for Several New Patents
5. bioMETRX, Inc. Introduces New Products
6. bioMETRX, Inc. Closes Angel Round of Funding
7. bioMETRX, Inc. Announces Integration of AuthenTec Fingerprint Sensor in smartTOUCH(TM) Product Line
8. bioMETRX, Inc. Acquires Patent for Biometric Padlock
9. bioMETRX, Inc. Acquires Patent for Biometric Padlock
10. bioMETRX, Inc. Calls Series B Warrants
11. Labwire Completes Its First Acquisition
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2015)... 5, 2015  Marken is starting its 35 th ... launched a new marketing campaign to solidify its place ... new campaign focuses on First as a ... The first headline in the series, ... with its client,s priorities. Marken recognizes the need to ...
(Date:2/5/2015)... -- NXT-ID, Inc. (NASDAQ: NXTD and ... focused on the growing mobile commerce market, announces it ... Conference on January 29 th at 10:30 a.m. ... of NXT-ID will present and host a live Q&A ... and its full suite of biometric technologies. Investors can ...
(Date:1/22/2015)... , Jan. 9, 2015 Valid S.A. ("Company") (BM&FBOVESPA: ... market in general the State of Washington,s ... for a new enrollment and central issuance system for driver,s ... The project planning and development will start in ...
Breaking Biology News(10 mins):Marken Launches New Patient-Centric Campaign 2CEO of NXT-ID, Inc. to Discuss Company's Biometric Technologies at RedChip Online Conference January 29th 2CEO of NXT-ID, Inc. to Discuss Company's Biometric Technologies at RedChip Online Conference January 29th 3Valid USA Signs Contract For Washington Driver's License Issuance 2
... have all but disappearedwere home to dozens of species of ... hundreds of species of flowers, and herds of roaming bison. ... by the University of Colorado Boulder has gotten a peek ... once called the tallgrass prairie home: the diverse assortment of ...
... AMHERST, Mass. Usually indigestion is a bad thing, ... Robert Vass at the University of Massachusetts Amherst recently ... partial degradation of a DNA replication protein is required ... one of the most highly controlled biological processes in ...
... Institute of Biotechnology have used the power of ... atomic movements. The research is helping to chart ... "glycomes" - the entire complement of carbohydrates within ... new understanding of these vital biomolecules which play ...
Cached Biology News:CU-Boulder-led team gets first look at diverse life below rare tallgrass prairies 2Biochemists find incomplete protein digestion is a useful thing for some bacteria 2Gaming technology unravels 1 of the most complex entities in nature 2Gaming technology unravels 1 of the most complex entities in nature 3
(Date:2/27/2015)... SUNNYVALE, Calif. , Feb. 27, 2015 /PRNewswire/ ... announced that longer-term toxicology studies for its newly ... arthritis, or RA, have been completed. The results ... the U.S. Food and Drug Administration. The feedback ... completion of the ongoing first-in-human study. Additional preclinical ...
(Date:2/27/2015)... Halifax, Nova Scotia (PRWEB) February 27, 2015 ... clinical stage vaccine and immunotherapy company, today announced ... approved its application for Fast Track designation and ... DPX-Ebola vaccines, in conjunction with the mutual co-development ... had previously obtained Fast Track designation for the ...
(Date:2/27/2015)... Feb. 27, 2015  Pfenex Inc. (NYSE MKT: PFNX), ... biosimilar therapeutics, today announced that it will be presenting ... on March 2 nd at 3pm PST. Patrick Lucy, ... panel discussing the current state of the biosimilar industry ... For more information on CALBIO 2015 ...
(Date:2/27/2015)... 2015  Steep Hill, the industry leader in cannabis ... to open a full service medical cannabis quality assurance ... bringing advanced scientific tools and methodology to the state, ... is currently the only laboratory licensed by the New ... testing in order to meet the recently adopted regulatory ...
Breaking Biology Technology:Pharmacyclics Provides Clinical Update on BTK Inhibitor for Autoimmune Diseases 2Pharmacyclics Provides Clinical Update on BTK Inhibitor for Autoimmune Diseases 3Immunovaccine Inc. (TSX: IMV) receives Fast Track and Phase I trial approval for Ebola and Anthrax vaccine programs, signs co-development agreement with Gilead Sciences 2Immunovaccine Inc. (TSX: IMV) receives Fast Track and Phase I trial approval for Ebola and Anthrax vaccine programs, signs co-development agreement with Gilead Sciences 3Steep Hill First to Receive Provisional Approval to Establish Laboratory Services for Cannabis Testing in State of New Mexico 2
... , , WEST CHESTER and ... a leading global medical device company in the orthopaedic trauma, spine, ... (Nasdaq: KNSY ), a leading developer and manufacturer of ... developed from Kensey Nash,s unique extracellular matrix (ECM) technology. , ...
... Ltd,(SIX: ARPN) announced today its financial results for the six months ending,30 ... - Regulatory setback for intravenous iclaprim in cSSSI in ... - Company restructuring completed, , Cash and financial ... CFO Harry Welten, MBA, commented: "Our cost-saving measures have been,implemented, ...
... , , CLEVELAND, Aug. 19 It,s ... field using technology in a "meaningful" way. While it,s clear ... the exact role technology will play to help achieve that goal. Proven ... or administrative, at the right time, content management will clearly play an ...
Cached Biology Technology:Synthes and Kensey Nash Announce Strategic Agreement for Extracellular Matrix Products 2Synthes and Kensey Nash Announce Strategic Agreement for Extracellular Matrix Products 3Synthes and Kensey Nash Announce Strategic Agreement for Extracellular Matrix Products 4Synthes and Kensey Nash Announce Strategic Agreement for Extracellular Matrix Products 5Arpida Reports Interim Results For Six Months to 30 June 2009 2Healthcare Continues to Use OnBase in 'Meaningful' Ways 2Healthcare Continues to Use OnBase in 'Meaningful' Ways 3Healthcare Continues to Use OnBase in 'Meaningful' Ways 4
... your microarray data using Asuragens bioinformatics ... need from consultation to extensive data ... date methods. Utilize our expertise in ... Service or from your own microarray ...
... This CLS number is a new ... Cornings product number. If showing no ... old Sigma-Aldrich number (Z71,517-4) or contact ... cap polystyrene (expanded surface, easy grip) ...
... number is a new product ... Cornings product number. If showing ... under the old Sigma-Aldrich number ... for assistance. Material: cap ...
... is a new product number, ... product number. If showing no ... the old Sigma-Aldrich number (Z71,704-5) ... assistance. ...
Biology Products: