Bid price of listed securities exceeds $ 1 at closing for eleven consecutive trading days
Oxford, Connecticut, January 5, 2021 (GLOBE NEWSWIRE) – Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”), a provider of healthcare devices and services, today announced that it had received, on January 4, 2021, a written notice from the Office of the Legal Counsel of The Nasdaq Stock Market LLC (“Nasdaq”) confirming that the Company has recovered the compliance with the applicable Nasdaq minimum the bid price continued listing requirement (the “Minimum Bid Price Requirement”) and the matter is now closed.
The Company canceled its special meeting of shareholders to be held on January 15, 2021. Due to the re-establishment of compliance with the minimum bid price requirement, the Company currently no longer requires authorization to effect a business combination. shares of the Company common shares outstanding at this time. The Nasdaq Hearings Panel has decided to impose a watch period, in accordance with listing rule 5815 (d) (4) (A), until July 5, 2021. For more information regarding the written opinion of the Nasdaq, including the monitoring period that has been imposed on the company, please see the company’s current report on Form 8-K that the company is simultaneously filing with the Securities and Exchange Commission and the company’s future filings for inform shareholders of its compliance during the monitoring period.
About Nxt-ID, Inc.
Nxt-ID, Inc. (NASDAQ: NXTD) provides technology products and services for healthcare applications. The Company has extensive experience in access control, biometric and behavioral identity verification, security and privacy, data encryption and protection, payments, miniaturization and sensor technologies. Through its subsidiary LogicMark LLC, Nxt-ID, Inc. is a manufacturer and distributor of unattended and monitored personal emergency response systems sold through resellers / distributors and the United States Department of Veterans Affairs. Fighters. Learn more about Nxt-ID at www.nxt-id.com. For corporate information of Nxt-ID, Inc., contact: [email protected]
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 regarding the successful execution of the Company’s business strategy. The actual results of the Company could differ materially from those anticipated in these forward-looking statements due to various factors. These risks and uncertainties include, among others, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to potentially license other patents and patent applications necessary for development. of products ; the availability of funding; the Company’s ability to implement its long-term business plan for various applications of its technology; the Company’s ability to enter into agreements with all necessary marketing and / or distribution partners; the impact of competition; obtaining and maintaining all necessary regulatory approvals applicable to the applications of the Company’s technology; and the management of growth and other risks and uncertainties which may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.
Vincent S. Miceli