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Biometric Investors, LLC funds Company Initial $250,000 under March
agreement
JERICHO, N.Y., April 22 /PRNewswire-FirstCall/ -- bioMETRX Inc., (OTC Bulletin Board: BMRX), a leading developer and supplier of consumer-based finger-activated products, today announced that it has commenced the initial integration of the assets and former personnel of Sequiam Corporation (OTC Bulletin Board: SQUME) through a previously announced agreement with Biometric Investors, LLC.
"We were notified last week by Biometric Investors, LLC that it has secured an order from the bankruptcy court to take immediate possession of Sequiam's assets. We have implemented a plan to incorporate many former Sequiam employees into our core business, and to take immediate possession of the equipment, inventory and technology base. We expect a smooth transition of those assets into bioMETRX over the next few weeks", stated Mark Basile, Chief Executive Officer at bioMETRX, Inc.
In addition, Biometric Investors, LLC has funded $250,000 to bioMETRX as part of the asset acquisition and financing agreement between the companies. The total financing, once completed, will significantly increase the Company's ability to expand its proprietary smartTOUCH(TM) and smartFIT technology across many vertical markets and continue to establish itself as the most dominant global leader in the development of low cost, low power OEM biometric integration products.
As the global leader in consumer biometric product engineering,
development and sales, bioMETRX's technology has proven to be the most
dependable and robust consumer biometric platform available today. It's
smartTOUCH product line is just starting to make its way into the
marketplace, having shipped over 18,000 units of its garage door opener to
Home Depot last quarter. The smartTOUCH line is now being expanded to door
locks, cabinet locks, mailboxes and luggage. The company's new smartFIT
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| SOURCE bioMETRX Inc. Copyright©2008 PR Newswire. All rights reserved |
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