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 LLC completedJuly 2016 . - Revenue for 2016 was
$7,736,320 compared to$616,854 for the previous year; a more than ten-fold increase. - Gross Profit for 2016 was
$3,301,452 compared to a gross loss of$(1,039,039) in 2015. - Operating expenses were flat in 2016 compared to 2015 at approximately
$10,000,000 . - 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
$4,562,169 compared to$83,325 for the same period in previous year. - Gross Profit for Q4 2016 was
$2,014,103 compared to a gross loss of$(1,206,970) in Q4 2015. - Operating expenses were
$2,616,975 in Q4 2016 compared to$2,359,930 in 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
$2,066,041 compared to net cash used in operating activities of$(2,277,729) for Q4 2015; a positive swing of$4,343,770 .
About
Forward-Looking Statements for
Corporate info: info@nxt-id.com
Media Contact:
press@nxt-id.com
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