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Monday, October 22, 2018

Investorideas.com - #CryptoCorner: Hong Kong Stock Exchange Says #Blockchain Should Be Regulated Under Existing Framework, #Samsung Partners with Dutch Bank and Port of Rotterdam for Blockchain Shipping Platform

Investorideas.com - #CryptoCorner: Hong Kong Stock Exchange Says #Blockchain Should Be Regulated Under Existing Framework, #Samsung Partners with Dutch Bank and Port of Rotterdam for Blockchain Shipping Platform



#CryptoCorner: Hong Kong Stock Exchange Says #Blockchain Should Be Regulated Under Existing Framework, #Samsung Partners with Dutch Bank and Port of Rotterdam for Blockchain Shipping Platform

October 22nd #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App


Point Roberts, WA and Delta, BC - October 22, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.
Listen to today's Crypto Corner Podcast:

#CryptoCorne: Hong Kong Stock Exchange Says Blockchain Should Be Regulated Under Existing Framework, #Samsung Partners with Dutch Bank and Port of Rotterdam for #Blockchain Shipping Platform

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Hong Kong Stock Exchange Says Blockchain Should Be Regulated Under Existing Framework, Samsung Partners with Dutch Bank and Port of Rotterdam for Blockchain Shipping Platform, Deputy Governor of Bank of Japan Dismisses CBDCs and Tennis Star Caroline Wozniacki to Launch Crypto Token

Total market capitalization is sitting at $210 billion USD as we open the week, according to data from CoinMarketCap. At press time, Bitcoin (BTC) is trading at $6529 USD, Ether (ETH) at $206 USD, XRP at $0.45 USD and Bitcoin Cash (BCH) at $449 USD.
A research report published by the Hong Kong Stock Exchange (HKEX) on Oct 18 advances the idea that blockchain technology, including digital currencies, should be regulated using existing frameworks. The report, titled FINANCIAL TECHNOLOGY APPLICATIONS AND RELATED REGULATORY FRAMEWORK, concludes that in order to be consistent, existing securities regulations must be applied to the emerging digital currency space.
The principle of consistency requires that robo-advisors and the issuance of digital currencies and digital funds must be governed under the existing securities regulatory framework. The legitimacy of crowdfunding has yet to be recognised by regulators. The public fund-raising activities of shares issuance by issuers — which do so with merely a prospectus published on the Internet but without any underwriter nor compliance with the IPO registration procedures or strict disclosure requirements — must be rectified by subjecting them to the governance by the Securities Law.
Samsung’s IT subsidiary has partnered with Dutch bank ABN AMRO and Europe’s largest port, Rotterdam, to test a blockchain platform for shipping, according to an announcement today. The Samsung SDS announcement said that following a successful trial, transactions will be streamlined and will make for easier shipping in the future.
When the pilot project of applying blockchain technology to the port of departure from Rotterdam [to the] port in Asia is completed, it will simplify the financial transactions such as confirmation of receipt and payment, real-time sharing of documents related to receipt and entry, and so on.
The deputy governor of the Bank of Japan (BOJ), Masayoshi Amamiya, disputed the efficacy of central bank digital currencies (CBDCs), according to the New York Times on Oct 20. In a speech in Nagoya, during a meeting of academics, Amamiya explained that in order for the central bank to make effective use of CBDCs in monetary policy, the bank would have to eliminate cash altogether.
"In order for central banks to overcome the zero lower bound on nominal interest rates, they would need to get rid of cash from society. Getting rid of cash now is not an option for us as a central bank."
Amamiya also pointed out that as it stands, digital currencies are still not widely used as currency, but rather as speculative investments.
Danish tennis star Caroline Wozniacki became the first female athlete to launch her own crypto token, according to a report from Reuters on Oct 20. Wozniacki signed a deal with Singaporean crypto exchange Global Crypto Offering Exchange (GCOX), who said that "the tokens will give buyers exclusive merchandise and interactions with their favorite celebrities, and that the celebrities will receive proceeds from the token sales."
Sam Mowers, Investorideas
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Investorideas.com - From #Tokens to #Malta (Part 1)

Investorideas.com - From #Tokens to #Malta (Part 1)



From #Tokens to #Malta (Part 1)


October 22, 2018 (Investorideas.com Newswire) 2019 is looming out there and strong events are taking place right now in the cryptocurrency market. Today more than ever, when we speak of tokens we're talking about assets. But what is a token exactly?
Usually, it's an amount of money, but the possibility is open for it to represent something else entirely - membership in a program, for instance, or proof of ownership. Each token is visually conceptualized as a custom coin with a certain name and properties; consider a casino's poker chips as analogue tokens.
Many of these coins offer a value proposition of a "utility token". The idea of a utility token is that the token is necessary to transact in a particular ecosystem.
Another type of token is the "security token," in which a token represents a share in an organization. This token type is more like a stock, or bond, or certificate of ownership of a financial instrument.

A token is a unit of virtual currency. 

Bitcoin is the primary token in cryptocurrency: the oldest, most valuable, and perhaps the most used. It serves many purposes, but they are almost exclusively financial and Bitcoin is known for the BTC digital currency on the cryptocurrency exchange.
Tokens need to be built on a blockchain based cryptocurrency platform, such as Etherium, NXT, Waves and others. A platform, akin to Etherium for example, allows these tokens to form their own financial ecosystem while leveraging the scale of an existing currency.
In early 2018 tokens became very popular with the booms of ICOs–initial coin offerings.
In some cases tokens are used specifically as a funding mechanism for companies and the Initial Coin Offering ICO has become the main tool to raise money in recent times. In those cases, they act like a stock. Other tokens have purposes which cannot be completed without them.
Others are designed purely as digital currency and could one day soon could come loaded with a selection of coins that can be used in every major retail outlet.
The value of the digital currencies' token is ultimately determined by its purpose and desirability. Since anyone can issue a token on a public blockchain, only well-designed, well-intentioned, and useful tokens retain long-term value. (At least, theoretically.)
Governments around the world are trying to regulate cryptocurrencies and accepting tokens as "real money". The country of Malta has officially passed three bills into law establishing a 'legal certainty' for cryptocurrency businesses.
Today, cryptocurrency is a space for unlimited innovation.

Next week we'll talk about tokens, ICOs and their many applications and purposes. Great ideas and initiatives are one coming out this November 1st at the Malta Blockchain Summit.

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The powerful GBTDesk aggregator ensuring exchange of cryptocurrencies for fiat currencies under smart contracts without intermediaries is a key element of GBT.

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Investorideas.com - What's Brewing in the #Cannabis #Beverage Market; American Premium Water (OTC: $HIPH), Aurora (TSX: $ACB.TO) (OTC: $ACBFF), Canopy Growth (TSX: $WEED.TO) (NYSE: $CGC), The Hydropothecary Corporation (TSX: $HEXO.TO)

Investorideas.com - What's Brewing in the #Cannabis #Beverage Market; American Premium Water (OTC: $HIPH), Aurora (TSX: $ACB.TO) (OTC: $ACBFF), Canopy Growth (TSX: $WEED.TO) (NYSE: $CGC), The Hydropothecary Corporation (TSX: $HEXO.TO)



What's Brewing in the #Cannabis #Beverage Market; American Premium Water (OTC: $HIPH), Aurora (TSX: $ACB.TO) (OTC: $ACBFF), Canopy Growth (TSX: $WEED.TO) (NYSE: $CGC), The Hydropothecary Corporation (TSX: $HEXO.TO)


Point Roberts, WA and Delta, BC - October 22, 2018 (Investorideas.com Newswire) Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks releases a sector snapshot with a focus on CBD and THC beverage deals brewing as the legal cannabis market in Canada just opened up new opportunities. Companies mentioned; American Premium Water Corporation (OTC: HIPH), Aurora Cannabis Inc. (TSX: ACB.TO) ( OTC: ACBFF), Canopy Growth Corporation (TSX: WEED.TO), The Hydropothecary Corporation (TSX: HEXO.TO).
From announced deals of 'Constellation Brands to Invest $5 Billion CAD [$4 Billion USD] in Canopy Growth to Establish Transformative Global Position and Alignment', to speculative deals like the Aurora Cannabis Inc. (TSX: ACB.TO) (OTC: ACBFF) Coca-Cola deal, the amount of money at stake is staggering.
According to the news from Ontario based Canopy Growth Corporation (TSX: WEED.TO) (NYSE: CGC), commenting on the Constellation Brands deal, "This investment, the largest to date in the cannabis space, will provide funds which Canopy Growth will deploy to strategically build and/or acquire key assets needed to establish global scale in the nearly 30 countries pursuing a federally permissible medical cannabis program, while also rapidly laying the global foundation needed for new recreational cannabis markets. Canopy Growth's Canadian platform does not require additional cannabis cultivation assets, and management views other jurisdictions, including the United States, as strategic priorities requiring significant capital."
In a recent Time.com article looking at the potential Coca-Cola /Aurora Cannabis Inc.
(TSX: ACB.TO) (OTC: ACBFF) deal, it's noted, "Coke's possible foray into the marijuana sector comes as beverage makers are trying to add cannabis as a trendy ingredient while their traditional businesses slow." The article also includes a statement from Coca-Cola; '"We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world," Coca-Cola spokesman Kent Landers said in an emailed statement to Bloomberg News.'
Looking at why there is so much money being wagered on the cannabis beverage partnerships, the numbers in the industry tell the story. For example looking at the U.S. market alone, New Frontier Data says, "We forecast the legal cannabis market to grow to $25 billion by 2025 with a compound annual growth rate of 14.7%". It's no surprise then that the beer industry wants in when US Beer Sales Exceed $34 Billion in 2017. IRI Worldwide also notes in its report that "Through December 31, U.S. beer volume sales decreased 0.4 percent while total beer dollar sales increased 1.2 percent."
Looking at opportunities, both in the U.S and now in Canada, Ryan Fishoff, CEO of American Premium Water Corporation (OTC: HIPH) has ambitious plans for his cannabis beverage brand.
American Premium Water (OTC: HIPH) just announced on October 17th, "It has created a prototype tetrahydrocannabinol (THC)-infused beverage utilizing the Company's hydro-nano technology, and that it is engaged in discussions with Canadian distributors and U.S. dispensaries. Upon official launch, American Premium expects to offer the first hydro-nano-infused THC beverage on the market."
From the news - "With the legalization of cannabis in Canada, the Company is actively pursuing distribution agreements for both of its beverages in the Canadian market. The Company is also pursuing product distribution in U.S. states where Cannabis is legal, and is in discussions with dispensaries in California, Colorado, and Nevada."
"Legalization in Canada and the development of our second beverage provides the opportunity for a distribution channel that not many of our competitors have. Additionally, we have a great geographic advantage in the U.S. I am based in New York City, our Chairman is located in Miami, and our headquarters are in Los Angeles - meaning we have 'boots on the ground' footholds in the country's largest and most visible markets. With the addition of the THC prototype, we are going to exploit this advantage and ramp up our marketing activities in these regions. An example of something that I have in mind is doing a pop up with MedMen's New York location. Doing a pop up with them (MedMen) would be an example of the type of marketing events that we intend to rollout in the coming months to take advantage of our geographic advantage. Over the ensuing weeks, I will share in more detail our wholesale distribution strategy for both the CBD and THC beverages," stated Fishoff.
Following his news, one of American Premium Water distributors SinglePoint Inc., announced a successful first week of sales of the newly listed product, Lalpina CBD Water.
Also entering the THC beverage market, Lagunitas Brewing Company, a subsidiary of Heineken International, announced in late June its launch of Hi-Fi Hops. "This IPA-inspired sparkling water is made using everything Lagunitas knows about hops and is infused with THC and/or CBD (depending on your vibe). This new beverage collaboration with AbsoluteXtracts is yet another example of Lagunitas' creativity at the intersection of culture, marijuana and craft beer, and marks the first time a major brewery has successfully and legally been represented in the THC-infused beverage space. At its core, Hi-Fi Hops is inspired by our IPA, tastes as refreshing as water (yeah, no calories or carbs!) and gives you the chill of sun-grown cannabis from AbsoluteXtracts, a CannaCraft brand."
"Hi-Fi Hops is not the first chapter in the love affair between cannabis and Lagunitas, but it is one of the most exciting," said Maria Stipp, CEO of Lagunitas Brewing Company. "The idea of being a part of a no-calorie beverage infused with cannabis seemed like a perfect next step in our product innovation, and a natural way to marry our past with our future."
And the beverage deals continued to flow; On August 1st, Molson Coors Canada, the Canadian business unit of Molson Coors Brewing Company and Canadian cannabis producer, The Hydropothecary Corporation (TSX: HEXO.TO) announced that they have entered into a definitive agreement to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization.
From the Molson news - "Canada is breaking new ground in the cannabis sector and, as one of the country's leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment. This new venture is consistent with our growth strategy and our commitment to being First Choice for Consumers and Customers by ensuring that Canadians have access to high-quality products that meet their evolving drinking preferences," said Frederic Landtmeters, President and CEO of Molson Coors Canada. "While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages. We look forward to partnering with HEXO, a recognized leader in the medical cannabis space in Canada that will bring robust production capacity, a track record of innovation, and, most importantly, shared values when it comes to doing business the right way and earning the trust of consumers."
How will the cannabis beverage marriage play out in Canada? According to an article on CBC, "Canadians could soon be spending more on recreational cannabis than they do on liquor, if a report from a major bank is to be believed. Canadian Imperial Bank of Commerce calculated in a report this week that in the next two years, Canadians will consume 800,000 kilograms of cannabis, the vast majority of which will be for recreational use."
So the marriage of cannabis and beverages combined will make a significant splash in Canada and globally as it rolls out. Cheers to that!
Investor Ideas #Potcasts #Cannabis News and Stocks on the Move:
About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts#Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change Podcast and the Stock Guru daily podcast on Support and Resistance Trading.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp. Disclosure: this article featuring HIPH is a paid for article (third party- East Hampton Media LLC compensates Investor ideas for HIPH and other OTC companies) at Investorideas.com - learn more about costs and services https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
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Investorideas.com Newswire - #AI Alert - Artificial Intelligence Set to Propel Global GDP as Business Integration Proliferates; Gopher Protocol (OTCQB: $GOPH), (NYSE: $SNAP) (NasdaqGS: $AMZN) (NasdaqGS: $NVDA) (NYSE: $ORCL)

Investorideas.com Newswire - #AI Alert - Artificial Intelligence Set to Propel Global GDP as Business Integration Proliferates; Gopher Protocol (OTCQB: $GOPH), (NYSE: $SNAP) (NasdaqGS: $AMZN) (NasdaqGS: $NVDA) (NYSE: $ORCL)



#AI Alert - Artificial Intelligence Set to Propel Global GDP as Business Integration Proliferates; Gopher Protocol (OTCQB: $GOPH), (NYSE: $SNAP) (NasdaqGS: $AMZN) (NasdaqGS: $NVDA) (NYSE: $ORCL)

Investorideas Featured Company: Gopher Protocol, Inc. (OTC:GOPH)


New York, NY and Delta, BC - October 22, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in investor news and research in leading sectors including tech, releases a sector snapshot looking at recent news and developments in Artificial Intelligence.
It's probably fast becoming a cliché to say that Artificial Intelligence (AI) is the future but with an array of companies rapidly adopting variants of the technology, and market research concluding that serious benefits accrue from embracing it, investors may be realizing more and more that it is a sector to watch.
PricewaterhouseCoopers' (PwC) global AI study, "Sizing the prize", details insights and projections of the value AI could bring to business as the technology develops. The research indicates that global GDP could increase by 14 percent, or $15.7 trillion -"more than the current output of China and India combined" - by 2030 as a result of AI. "Of this, $6.6 trillion is likely to come from increased productivity and $9.1 trillion is likely to come from consumption- side effects."  The report also stresses the need for "strategic investment" to make this growth possible and details how encompassing the technology will be in everyday life.
"From the personal assistants in our mobile phones, to the profiling, customisation, and cyber protection that lie behind more and more of our commercial interactions, AI touches almost every aspect of our lives. And it's only just getting started."
The data and projections of the PwC report are borne out well by a recent press release of American tech company, NVIDIA Corp (NasdaqGS:NVDA). In the week leading up to the release, Swedish automobile maker Volvo chose NVIDIA's DRIVE AGX Xavier platform, an "open scalable platform for autonomous driving," to be incorporated in its next-generation automated cars. In the same period, American multinational computer technology corporation Oracle (NYSE:ORCL) announced that it "is the first public cloud provider to support the NVIDIA HGX-2TM platform on Oracle Cloud Infrastructure".
"NVIDIA's continued product launches in the computing segment, as well as increasing demand for its AI-driven graphics chips and technologies, are expected to aid the company."
Gopher Protocol Inc. (OTCQB:GOPH) has taken the route of designing their own Avant! AI System to run their technologies, which include their GEO tracking system, autonomous machines, surveillance/military/security drones. The company announced on Oct 16 the limited access release of their web-based Avant! System at www.avant-ai.com, which is further outlined in a recent introductory video.
 

"We are proud to introduce a public access to our Avant! AI engine," said Dr. Danny Rittman, Gopher's Chief Technology Officer. "Although we are only providing limited access to an initial phase of Avant!, the public can get a feel for the system's key strength. One of our major Avant! innovations is the use of an advanced semantic segmentation system that enables Avant! to identify visual objects.  This allows understanding of an image down to the pixel level. A computer image can now be understood by our pixel analytics algorithm. We believe this will be crucial for applications such as autonomous driving, security drone operation and even computer assisted medical procedures."
Dr. Rittman continued, "The next unique aspect of the Avant! system is the AI decision-making process.  Avant! has the capability to predict scenarios based on analytics and statistical data. Our goal is to open a whole world of possibilities to integrate Avant! within human interface applications which could include customer services, chat support, financial advice and in the future, medical advices. Every decision taken within Avanti! is supervised by a cognitive deep-learning system for error capturing, which makes it safe and reliable. Another of the remarkable key elements in Avanti! is its Artificial Neural Network (or ANN). This is an information processing paradigm that is inspired by the way biological systems, such as the brain, process information. An ANN is configured for a specific application such as pattern recognition or data classification through a learning process. Avant!"
Amazon's (NasdaqGS:AMZN) recent partnership with Snap Inc.'s (NYSE:SNAP) Snapchat will enable "visual search shopping" using object-recognition AI technology, which could drastically alter the way people shop in the near future. The Snap website explains the ease of the process:
"Simply point your Snapchat camera at a physical product or barcode, and press and hold on the camera screen to get started.
When the item or barcode is recognized, an Amazon card will appear on-screen, surfacing a link for that product or similar ones available on Amazon. Tap your selection to visit the Amazon App (if you have it installed on your phone) or Amazon.com, where you can complete your purchase or keep browsing."
Cliché or not, expect to see the hype around AI continue to become more of a reality. Whether it is discreetly powering tech like NVIDIA's recent adoptions, governing Gopher's Internet-of-Things and mobile technology, or explicitly altering the way people shop on Amazon, AI is already making a significant impact on the market and all indicators are that this will only accelerate.
About Gopher:
Gopher Protocol Inc. (OTCQB: GOPH) is a development-stage company which consider itself  a Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology. Gopher's exclusive licensor filed a non-provisional patent covering a proprietary GRC Blockchain-Based Radio Generated Digital Currency on June 19, 2018. Additionally Gopher's Avant! AI technology has been designed to supervise the Blockchain System to keep records of all data exchanges. The AI system will be embedded as an integral part of Gopher's digital coin Blockchain system.
For more info on Gopher and its technologies visit http://gopherprotocol.com/
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Investorideas.com - #Tech News: NXT-ID (NASDAQ: $NXTD) Issues Shareholder Update

Investorideas.com - #Tech News: NXT-ID (NASDAQ: $NXTD) Issues Shareholder Update



#Tech News: NXT-ID (NASDAQ: $NXTD) Issues Shareholder Update

Update on LogicMark and proposed Spin-Off

Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD)

SEBASTIAN, Florida - October 22, 2018 (Investorideas.com Newswire) NXT-ID, Inc. (NASDAQ: NXTD) today released a shareholder update regarding LogicMark and the strategy and process for its proposed spin-off of its payments, authentication and credential management business.
On September 21, 2018, Nxt-ID announced that it intends to separate its payments, authentication, and credential management business into an independent company and distribute shares of the newly created company to its shareholders through the execution of a spin-off, which the Company believes will qualify as a tax-free distribution. Immediately following the transaction, Nxt-ID shareholders who owned common shares of Nxt-ID at the record date of October 17, 2018, will own shares of both companies. The record date was set for October 17, 2018 to allow shares purchased on October 15, 2018 to clear and be recorded on the shareholder ledger.
The new company, PartX, Inc., will include the assets acquired in the May 2017 business combination with Fit Pay, Inc. as well as the payment, authentication, and credential management assets that the Company developed since inception. Following the spin-off, the PartX has a provisional investment commitment for $6.0 million to fund its operations. PartX plans to apply for listing on the NASDAQ exchange.
LogicMark
Our LogicMark subsidiary has grown substantially since we acquired the company in July 2016. Unaudited revenue for the trailing twelve months ended September 30, 2018 was approximately $17.4 million and Non GAAP Operating income for the twelve months ended September 30, 2018, adjusted for depreciation, amortization and non-cash charges was approximately $7.8 million, almost twice as much as when the company was acquired in 2016. LogicMark's core business is derived from sales to the Veteran's Administration and wholesale distribution channels.
"We believe that LogicMark's strong core business and expertise in patient monitoring provides an ideal base for expansion into this sector of healthcare," said Gino Pereira, CEO of NXT-ID. "We are making significant progress toward building new distribution channels for the LogicMark family of products. As a result of a shift in the age structure, it is estimated that 19 percent of the population will be aged 65 and older by 2030. In addition, we are developing new wearable monitoring products to further extend our market beyond the senior population. These devices are designed for students, children and workers in industries where personal safety is important. Furthermore, we are expanding into telemedicine where we will offer monitoring services for the chronically ill, with the objective of reducing healthcare costs by early detection of adverse symptoms allowing for more timely medical intervention."
"This spin-off transaction will free up cash flow that will allow LogicMark to fully pursue these new markets and opportunities."
Spin-off Strategy
"The fundamental reason we are pursuing this transaction is that we believe the value of both of our key lines of business is not reflected in the Company's valuation. This transaction is designed to unlock that value by providing a direct pure play investment for shareholders in each strategy. While we have a process go through to complete the transaction, the goal is to have the inherent value of both our lines of business be more fully realized. The payments and authentication business is at a different stage of development compared to the healthcare business and needs some additional runway to achieve its full potential. We believe that this is best served as a stand-alone entity. In addition, it will provide current and future investors in an opportunity to invest in both businesses with a more clearly defined strategy and more transparency into the results and progress toward achieving that strategy."
Transaction Update
"The next step in the process of completing the spin-off is the filing of an information statement, which will provide additional details about the transaction and the resulting two businesses. It appears likely that our original estimated completion date of November 15 will be pushed back towards the end of the year but we are working diligently through the process."
PartX, Inc. (Fit Pay, Inc. and Additional Assets)
"Our payments, credential management and authentication business, currently operating as our Fit Pay, Inc. subsidiary, continues to make strides in the commercialization and scaling of its business. Its flagship customer, Garmin International, now features Garmin Pay, which is powered by Fit Pay on 10 of its smartwatches. The global footprint of Garmin Pay also continues to grow. More than 200 issuers in 26 countries now enable Garmin Pay their account holders. This growing network increases the activation of the Garmin Pay feature, which is a key driver of the Fit Pay business.
"In addition, it was announced last week the Fit Pay is included among companies participating in a new tokenization program from Visa. This new program significantly increases the addressable market for Fit Pay's services, allowing it to provide tokenization services to merchants and e-commerce companies.
Conclusion
"We believe that the remaining business in NXT-ID will provide a firm foundation for continued significant growth. This transaction is a critical step toward realizing the inherent value of both our subsidiaries in the market and will strategically position both companies to be able to execute on their full potential."
Transaction Details
For further details about the spin-off transaction, please see the Form 8-K filed by Nxt-ID with the Securities and Exchange Commission on September 21, 2018. Completion of the tax-free spin-off and the new company's subsequent listing is not assured and will be subject to final approval by the Nxt-ID Board of Directors, approval by NASDAQ and a number of factors, including market conditions, the execution of inter-company agreements, lender's consents and other matters. Nasdaq has not approved the spin-off company for listing and there are no guarantees that the company will be able to list on Nasdaq or any other exchange.
About NXT- ID, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). With extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, Nxt-ID develops and markets groundbreaking solutions for payment and IoT applications. Its industry-leading technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers' mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries: LogicMark, LLC, a manufacturer and distributor of non-monitored and monitored personal emergency response systems ("PERS") sold through dealers/distributors and the United States Department of Veterans Affairs; Fit Pay, Inc., a proprietary technology platform that delivers end-to-end solutions to device manufacturers for contactless payment capabilities, credential management, authentication and other secure services within the IoT ecosystem, and 3D-ID LLC, which is engaged in biometric identification and authentication. Learn more about NXT-ID at http://www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc. For NXT-ID Inc. corporate information contact: info@nxt-id.com.
Statement regarding use of non-GAAP financial measures
In this press release, the Company's financial results and financial guidance are provided in accordance with accounting principles generally accepted in the United States (GAAP) and using certain non-GAAP financial measures. Management believes that presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors and facilitates the analysis of the Company's core operating results and comparison of operating results across reporting periods. Management also uses non-GAAP financial measures to establish budgets and to manage the Company's business.
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.
Media Contacts:
Chris Orlando
chris.orlando@nxt-id.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com

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