As part of the Company’s strategy to accomplish a listing to NASDAQ Capital Markets and to increase the Company’s opportunities to realize profitable growth and deliver shareholder value, the Company has been evaluating various synergistic acquisition targets. The Company has been engaging in discussions with a number of private and public entities with complementary products and services, some of which have revenues and positive EBITDA. A number of the target companies have channels to market, which could create an opportunity for new market access for the Company’s products. The Company has also been looking at entities that would allow it to acquire skills and technologies needed to support the business more quickly or at lower cost than the Company could build in-house.
The recent acquisition of biometric access control business, My TOUCH ID, LLC, is an example of this and is believed to provide the Company with valuable intellectual property and the ability to expand the commercialization of its product offerings into new consumer and commercial access control markets.
The Company intends to continue to assess additional acquisition targets through the third quarter of 2016.
