JERICHO, N.Y., July 6 /PRNewswire-FirstCall/ -- bioMETRX Inc. announced that it has closed a $1.65 million dollar private placement, in which First Montauk Securities Corp., an NASD member firm, acted as selling agent. The Company also announced today that it has received purchase orders, commitments and on-line orders for its finger- activated garage door opener totaling in excess of $3.5 million dollars over the last 3 months.
bioMETRX, Inc., a leader in consumer-friendly finger-activated products closed an interim round of funding in the amount of $1.65 million dollars which includes investments by institutions and funds. The terms of the investment can be found in the company's recent 8K filing. The money will be used for operating capital. Last week the company announced that it has established credit facilities with its largest component suppliers.
"bioMETRX has grown very quickly from a development stage company to a market entry company within the last 6 months. The rapid growth of our company and the flow of orders dispels the myth that consumers are wary of finger scanning technology, especially when its use simplifies a daily routine. Consumers can now open a garage door, set a thermostat, and pretty soon, unlock and start a car with a simple touch of a finger," noted Mark R. Basile, CEO of bioMETRX.
Mr. Basile also added, "We believe that consumers, not banks and governments, will be the driving force behind the use and acceptability of this technology. The more smartTOUCH(TM) products are used by the consumer, the more familiar they will become with the benefits of the technology opening up greater acceptance by them to other uses, such as financial transactions."
The company's smartTOUCH(TM) finger-activated products include a garage door opener, thermostat, front door lock, gate opener, home alarm keypad, USB drive, rolling medicine carts and automobile access and starter systems.
bioMETRX Inc. is a Jericho, New York-based research, development and marketing company that utilizes state-of-the-art finger-activated technology to create innovative, stand-alone security and electronics products for consumers. The company is focused on providing simpler, more secure and convenient products to protect consumers' property and their families.
About bioMETRX, Inc.
bioMETRX, Inc. through its wholly owned subsidiaries, designs, develops and markets biometrics-based products to the consumer, health information, medical devices and small business markets under the common brand name - smartTOUCH(TM); bioMETRX Technologies, Inc. which was acquired in May, 2005 designs and engineers biometrics-based products for the home security, consumer electronics, medical products and patient medical information markets; smartTOUCH, Inc. tests and markets the company's biometrically secured garage door openers, thermostats, deadbolts and home alarm keypads and, smartTOUCH Medical, Inc., designs, tests and markets biometrically secured medical crash carts, rolling medicine carts, portable patient medical information devices and, security and retrieval systems for electronic medical records. bioMETRX, Inc.'s entire product line is branded under the trade name "smartTOUCH(TM)". For more information on bioMETRX and/or the company's smartTOUCH line of products including the Garage Door Opener, visit the Company website at http://www.biometrx.net
Safe Harbor Statement: Forward-looking statements in this release with respect to bioMETRX' business, financial condition and results of operations, as well as matters of timing and the prospective terms of the transaction described are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond bioMETRX's control with respect to market acceptance of their technology and/or products, whether financing will be available, the effect of the application of acquisition accounting policies as well as certain other risk factors which are and may be detailed from time to time in bioMETRX's filings with the Securities and Exchange Commission.
bioMETRX, Inc.CONTACT: Kim Cerminaro, Publicity & Marketing Coordinator, +1-516-937-2828x108, kcerminaro@biometrx.net
Web site: http://www.biometrx.net/
