SHELTON, Conn., Sept. 26, 2014 /PRNewswire/ -- NXT-ID, Inc. (NASDAQ:NXTD), a biometric authentication company focused on the growing mobile commerce market, provides the latest update on Wocket™.
Wocket™ is in production! Wockets are designed and engineered in Palm Bay, FL and assembled in the USA at a state of the art, 230,000 sq. ft. production facility in Melbourne, FL. This facility has been qualified to produce the miniature electronics required by Wocket and is one of the leading manufacturers in the United States, with multiple locations throughout North and Central America to allow for expansion as needed.
Certain unique components invented by NXT-ID are currently in production and on schedule. These highly specialized parts are part of our unique miniaturized technology and are less than half a millimeter in thickness. Utilizing this specialized technology ensures Wocket's success at point of sale terminals where other digital wallet technologies cannot operate, such as gas stations and ATM machines. We were recently informed that some other components supplied by outside vendors, have lead times longer than previously anticipated, thus causing a slight delay in our production as we await shipment from these suppliers. We continue to source alternate vendors to maintain a strong redundancy within our supply chain.
While we await the arrival of these components, we are working on an additional software feature, WocketPass, a first-of-its-kind secure credential manager based on our recent provisional patent for a universal authenticator that keeps personal login credentials safe and secure inside Wocket, as a standard feature on the first release of Wocket. Unlike other password managers, WocketPass keeps all of your sensitive passwords close to you, right in your pocket and locked within your Wocket™, rather than managed by a third-party on a shared cloud. We have been working to extend the battery life to an incredible performance to allow features such as WocketPass to be seamlessly added without requiring hardware changes. An enhanced version of WocketPass will be offered as a software upgrade in the near future and will include features such as stronger password generation and auto fill for modern browsers to provide login credentials to websites without requiring users remember and type complex passwords.
We are working as hard as possible to accelerate delivery for our preorders this year and we are steadily gearing up for full-scale production in early 2015. In the meantime, NXT-ID will offer a $50 credit on a future order of any Wocket or Wocket accessory to all customers who have pre-ordered Wocket by October 31, 2014. We will also provide a full refund for those customers that choose not to wait. Our customers are our highest priority and we want to thank you all for your loyalty and support as we come into the final stretch with Wocket.
We value every one of our customers and shareholders that have put their faith in us. We are working diligently to ensure the highest quality product possible, and deliver the most advanced, unique secure smart wallet ever devised. As we approach the final stages and ramp for mass production, we look forward to delivering Wocket to the world.
Please visit www.wocketwallet.com, www.facebook.com/wocketwallet or follow us on Twitter @WocketWallet to stay up to date with the latest news and interact with the company.
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s innovative MobileBio® solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio® suite of biometric solutions that secure consumers' mobile platforms led by the Wocket™ ; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/
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 with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Contact:
Corporate info: [email protected]
Investor Inquiries:
Kirin Smith
ProActive Capital Group
Direct: 646 863 6519
[email protected]
Media: 800 665-0411
SOURCE NXT-ID, Inc.
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