Biometric Investors, LLC funds Company Initial $250,000 under March
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 technology is now being introduced to many OEM's, as well as the new smartTOUCH bioBOX and smartTOUCH bioVAULT products.
About bioMETRX, Inc.
bioMETRX, Inc. is rapidly becoming the leader in designing and bringing to market, practical, secure, everyday consumer biometric products for the garage door, door hardware, HVAC, home security, PC, automotive and portable lock markets. Utilizing its proprietary technology, the "powered by smartTOUCH(TM)" platform, bioMETRX has developed an entire family of products so smart, they recognize you. The company's product line is branded under the protected trade name smartTOUCH(TM). bioMETRX also designs and provides fingerprint technology to a number of Original Equipment Manufacturers (OEM's).
For more information on bioMETRX and/or the company's smartTOUCH line of products, including the Master Lock smartTOUCH garage door opener, visit the Company's Web site 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.
|SOURCE bioMETRX Inc.|
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