NXT ID: CHANGES NAME AND SYMBOL TO LOGICMARK – Form 8-K


NXT-ID CHANGES NAME AND SYMBOL TO LOGICMARK

Decision Reflects Company’s New Focus on Care Economy Platform and Technology

Louisville, Kentucky, March 1, 2022 – NXT-ID, Inc. today announced a name change to LogicMark, Inc. LogicMark was a company acquired by NXT-ID in 2016 and brought with it innovations in the field of emergency response systems staff (PERS). The shares will begin trading under the symbol LGMK on the Nasdaq stock market on March 2, 2022.

The name change underscores the company’s commitment to modernizing remote monitoring to help people stay safe and live independently longer. The PERS market is expected to grow by 7.5% by 2025 according to a recent study. One in five Americans is expected to be over 65 by 2030, according to the United States Census Bureau. By 2060, the aging population is expected to more than double.

“Care technology has always been at the heart of this company and represents the future of our Caring-Platform-as-a-Service (CPaaS) development,” said Chia-Lin Simmons, CEO of LogicMark. “This represents an entirely new ecosystem. We see this as the perfect time to reflect this name change.”

The company name change follows several major achievements. In 2021, LogicMark (then NXT-ID) hired Chia-Lin Simmons (former Google, Audible/Amazon executive) as the company’s new CEO. Additionally, the company announced capital increases totaling $16.4 million in the same year. Several high-level executives have recently joined the company, including financial consultant Mark Archer (former CEO, SmartBee Controllers) as CFO, IoT and AI specialist Rafael Saavedra (former CTO, Drive Time Metrics) as Vice President of Engineering, and Sherice Torres (former CMO, Novi at Meta Company) as a new Board Member.

To date, LogicMark has provided over half a million PERS devices to seniors, veterans and their loved ones, giving them the confidence to live confidently and independently at home for as long as possible. . The company provides these devices free of charge to US veterans through Veterans Health Administration medical centers and outpatient clinics. The U.S. government awarded LogicMark a GSA contract in July 2021, allowing the company to partner with federal, state, and local governments to expand the distribution of its products.

About LogicMark

LogicMark, Inc. (formerly NXT-ID) provides personal emergency response systems (PERS), health communication devices, and IoT technologies to create a connected care platform. The company’s devices give people the ability to receive care at home and the confidence to age in place. LogicMark revolutionized the PERS industry by incorporating two-way voice communication technology directly into its medical alert pendant and providing this vital technology at an affordable price to everyday consumers. LogicMark’s PERS technologies are sold through the US Veterans Health Administration and resellers/distributors. The company recently won a contract from the US General Services Administration that allows it to distribute its products to federal, state and local governments. For more information, visit LogicMark.com.

Caution Regarding Forward-Looking Statements

Statements contained herein that are not based on current or historical facts are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. , as amended. These forward-looking statements reflect LogicMark’s expectations regarding its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include, but are not limited to, statements regarding LogicMark’s successful execution of its business strategy. When used herein, the words “anticipate”, “believe”, “estimate”, “in the future”, “plan”, “target”, “intend” and “expect” and similar expressions, in regarding LogicMark or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to LogicMark and are subject to a number of risks, uncertainties and other factors that could cause LogicMark’s actual results, performance, prospects and opportunities to differ materially from those expressed or implied. by these forward-looking statements.

Media Contact:

Erica Zeidenberg

Marketing of spicy tomatoes

[email protected]

925-518-8159 mobile

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