Monday, September 27, 2021

Can Nxt-ID, Inc. (NXTD) Stock Continue Clinging to Nasdaq Compliance?

Nxt-ID, Inc. (NXTD) stock prices are down 8.77% as of April 15th, 2021, coming to a rest at USD$1.04 as of the market close. With stock prices having displayed the typical volatility associated with penny stocks, investors are keeping a close eye on NXTD.


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What is Nxt-ID?

The provider of tech products and services for healthcare applications is centered primarily around the sales of personal emergency response systems through its subsidiary, LogicMark. They regained compliance with Nasdaq’s minimum bid price requirement of shares being valued at more than USD$1.00, for a consecutive time period, in early January 2021.

Volatility of NXTD Stock Prices


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With NXTD stock prices inching closer towards the USD$1.00 mark, there are concerns about the possibility of the stock being delisted. NXTD had been traded for less than USD$0.50 a share for the bulk of 2020; before it rebounded in December 2020, ending the year at a much more promising USD$1.60. NXTD stock prices went on to hit a 52-week high of USD$3.44 on Feb 17th, 2021, only to slump back down to USD$1.32 by March 4th, 2021.

Debt Reduction

Most recently, however, NXTD announced on February 9th, 2021 that it had paid off USD$5 million of its senior secured debt in principal. The outstanding principal amount now sits at a less daunting USD$5.7 million. This reduction translates into an annual saving of USD$700,000 in costs of interest accrued. This, in turn, means NXTD has more capital at their disposal to invest into the business. This is especially important given how devastating the effects of the pandemic have hitherto been.

Future Plans

In their highly successful December 2020 offering, NXTD saw an influx of capital that could help it achieve greater financial stability in the midst of the pandemic. NXTD plans on expanding its roster of employees in sales and marketing, as well as raising product awareness and establishing brand recognition via the reintroduction of an extensive advertising and marketing campaign.

Can NXTD Avoid Delisting?

Despite NXTD stock’s volatility and proximity to the cutoff share price as per Nasdaq regulations, NXTD has still offered promising developments. The CEO has a hopeful outlook for 2021, which investors share with a healthy dash of caution.

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