In Other News: NXT-ID (DreamTrips); INTELLICHECK (funding); REVEL (Vantiv); and CAUSE (exec).
NXT-ID – NXT-ID has received a $1.2 million dollar payment from WorldVentures as part of a total of $2.5 million for the first production run of the DreamTrips SmartCards to be delivered at the end of July.
INTELLICHECK – Intellicheck Mobilisa, announced the entry into an agreement relating to the sale of 1,200,000 shares of common stock at a public offering price of $1.75 per share together with the issuance of 600,000 five year warrants to purchase common stock with an exercise price of $2.20. The gross proceeds from the offering, excluding any proceeds on the exercise of the warrants, are expected to be approximately $2,100,000, before deducting the underwriting discount and estimated offering expenses. A substantial portion of the funds from the raise will advance the development of what are expected to be pioneering products based on the latest, patented photonics innovations for threat assessment and document authentication.
REVEL – Revel Systems is partnering with Vantiv Integrated Payments, a provider of payment processing services and related technology solutions for small and medium-sized businesses (SMB), to launch the ‘Revel Up Your Dream’ social media contest. In addition, Revel is launching their ‘Revel Up Your Dream’ Fund and blog, both with the mission to support and inspire entrepreneurs to start their dream business.
CAUSE – Cause Mobile Wallet, the charitable mobile wallet solution that creates sustainable funding for worthy causes, has ankled Eric Choi as president. Choi brings over 25 years of experience in the finance industry at firms such as Jeffries and Co. and McDonald Investments. Most recently, he was co-head of equities at CRT Capital. Choi is also the chairman of the board of directors at Cause Mobile Wallet and will continue to serve in that capacity.