LOS ANGELES, March 24, 2015 (GLOBE NEWSWIRE) -- Everlert, Inc. (the "Company") (EVLI), is pleased to announce that it has filed its annual report and corresponding financial statements for the year ended December 31, 2014 with the OTC Markets.
Mark Blankenship, President and CEO of the Company, stated, "The 2014 annual financials reflect significant steps in the transformation of Everlert from a single business operation to a diversified company that is active in both Real Estate and Entertainment. We have retired most of the legacy debt inherited or created by the Company from previous operations, allowing the Company the financial flexibility to be free from the burden of a stale balance sheet and marginally profitable operations. Management will now be able to aggressively build its portfolio of intellectual properties and focus on Southern California real estate opportunities. With the Company's stronger corporate structure, new management team, focused operations and business plan, we are very optimistic about the outlook for 2015."
In October of 2014, the Company's board of directors agreed to take steps to reduce debt and to diversify Company operations by pursuing new business opportunities in Entertainment and Real Estate. In order to satisfy these objectives, Everlert Entertainment, Inc. was formed on January 6, 2015, as a Nevada Corporation. Everlert Entertainment Inc. is provider of strategic management services for entertainment related projects based on intellectual properties licensed to the Company. Projects include films, TV, music and digital media.
Everlert Properties Inc. was formed on December 29, 2014, as a Nevada Corporation. Everlert Properties Inc. consults with property owners to evaluate and propose development strategies, as well as evaluate possible sources of project financing in the form of structured financing.
To reduce debt and financial obligations, on February 20, 2015, management sold its debt laden subsidiary, Totalpost Services, Inc., in exchange for 100,000,000 shares of Everlert Preferred Stock, Class "D", par value $0.001, which are being canceled by the Company. The price paid by the purchaser included the assumption of all debt and financial obligations of Totalpost Services Inc., totaling $1,708,187 at the time of the closing. This transaction resulted in the reduction of the Company's overall debt by $858,000, as well as the termination of any ongoing costs such as licensing fees and other obligations.
The Company was also successful in working with convertible note holders to convert their debt of $423,170 to common stock, thereby eliminating $423,170 of liabilities.
During the fourth quarter, the Company engaged Sadler, Gibb & Associates, LLC, as the independent PCAOB auditor to complete the required SEC audit procedures as part of the process of qualifying Everlert as a "Reporting Public Company" under the Securities Act of 1943 and allowing for the listing of Everlert's common stock on a more senior quotation service.
The 2014 annual report is available on the OTC Markets web site at:
BOSTON, Mass, March 23, 2015 /PRNewswire/ -- SoundView Technology Group issues a new research update following the recent shipment of NXT-ID's (NXTD) Wocket smart wallet. SoundView was one of the selected user groups to provide real- world user feedback on their experience with the Wocket in multiple scenarios and outlets.
Soundview shares their experience at CVS, Whole Foods and other retailers, making both debit and credit card payments.
Soundview analyst Kris Tuttle also says, "If the company meets their plans in 2015, it would push our IV estimate up to $17.42 for 2016."
NXT-ID, Inc. (NXTD) is a biometric authentication company focused on the growing mobile commerce market.
Excerpt: The Wocket Arrives
NXT-ID (NXTD $3.87) THE WOCKET ARRIVES KRIS TUTTLE – MARCH 23, 2015
Company Update
After months of hard work and anticipation the Wocket has shipped. This event addresses the first chorus of skeptics who have insisted that "the Wocket will never ship." Even within the limits of an "early access device" our initial testing has gone very well in outlets ranging from CVS to Whole Foods to Panera using Visa (in both debit and credit mode) as well as American Express cards. So the most interesting real-world interaction occurred in a CVS where the "hand card to cashier" message popped up. I had prefaced my swipe with the comment that I was using "a new ultra secure credit card" and when I handed over she responded "oh is this one of those cards where you can store all your cards on?" To which I replied yes indeed and she simply said "cool" and handed it back. Even after a few days of use I was comfortable with the Wocket to head out for an evening without my wallet – just a few dollars in cash and my license. Having misplaced my wallet a week or two ago I can also say that the anxiety level from misplacing your Wocket is much, much lower. I wouldn't want to lose my Wocket but would feel none of that fear and panic that comes from losing my wallet with "everything in there." In fact by having all the plastic cards safely at home I wouldn't actually lose anything or need to change out all my cards to new account numbers. Getting a new Wocket and reloading the cards would be minor job but far less than cancelling accounts, refuting fraudulent charges and having new cards issued.
Anecdotes are not rigorous market research but the awareness level of the technology was a surprise and comfort level with the thing itself was reassuring. NXT-ID is using the input from early access users while preparing for their first production run to begin to fill pre-orders beginning in late April. The next production milestone is to deliver between 5,000 and 10,000 units in June. The progress over the last two months certainly makes us feel comfortable with our 40,000 unit estimate for 2015 in terms of production capability.
Stock Conclusion
So after suffering from a prolonged "wait and see" attitude the stock has moved up sharply recently in response to the initial shipments. Our own experience with the device so far would reinforce the view that 2015 will be a good year for the Wocket and NXTD shareholders. The two major risks remaining are 1) the ability to ramp up production to thousands of units at first and then tens of thousands per month and 2) mainstream consumer reactions and adoption. Our IV of $8.18 makes the shares very attractive, albeit with some expectation of success built into the estimate. If the company meets their plans in 2015, it would push our IV estimate up to $17.42 for 2016.
Wocket is a smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone or cloud required. Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.
All your credit, debit, loyalty, gift, ID, membership, insurance, tickets, medical information, passwords, and virtually any other card can be protected on Wocket.
We are an independent advisory and research firm specializing in emerging technologies as they reach commercialization. Our proprietary research and modeling work provides valuable information for company management teams and investors in these emerging opportunities. We regularly publish our findings across a variety of channels including all the major retail and institutional information outlets. SoundView is based in Boston, Massachusetts with locations in New York and Connecticut.
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