The Annual Report on Form 10-K is available in the Investor Relations section of the Company’s website at http://www.nxt-id.com under “SEC Filings,” as well as on the
2016 Year Highlights:
- Acquisition of
LogicMark LLCcompleted July 2016.
- Revenue for 2016 was
$7,736,320compared to $616,854for the previous year; a more than ten-fold increase.
- Gross Profit for 2016 was
$3,301,452compared to a gross loss of $(1,039,039)in 2015.
- Operating expenses were flat in 2016 compared to 2015 at approximately
- Operating Loss for 2016 was reduced to
$(6,710,088)compared to $(10,924,297)in 2015.
- Net cash used in operating activities in 2016 was substantially reduced at
$(950,048)compared to $(8,620,672)for 2015
Fourth Quarter Highlights:
- Revenue for Q4 2016 was
$4,562,169compared to $83,325for the same period in previous year.
- Gross Profit for Q4 2016 was
$2,014,103compared to a gross loss of $(1,206,970)in Q4 2015.
- Operating expenses were
$2,616,975in Q4 2016 compared to $2,359,930in Q4 2015.
- Operating Loss for Q4 2016 was reduced to
$(602,872)compared to $(3,398,969)in Q4 2015.
- For the first time in the Company’s history, net cash generated by operating activities in Q4 2016 was
$2,066,041compared to net cash used in operating activities of $(2,277,729)for Q4 2015; a positive swing of $4,343,770.
Forward-Looking Statements for
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