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Newsroom - Clients - BMRX
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
bioMETRX, Inc.
bioMETRX, Inc. Extends Credit Capacity to Meet Production Demand for its smartTOUCH(TM) Garage Door Openers
JERICHO, N.Y., Jan. 18 /PRNewswire-FirstCall/ -- bioMETRX Inc., (OTC Bulletin Board: BMRX - News), a leading developer and supplier of fingerscan solutions, today announced that it has expanded its credit capabilities to meet the growing demand for its first product, the innovative smartTOUCH(TM) Garage Door Opener after receiving new orders from a major retailer that total in excess of 17,000 units. The Company has increased its credit lines with existing vendors, and obtained an irrevocable Letter of Credit from Citibank N.A., originated through one of its financing partners, BLX Funding of New York.
The financial commitment from Citibank N.A. allows the Company to increase its production capabilities to meet the growing demand for its products from retailers and consumers. "We are very happy to be able to provide this very promising company with the necessary financing in order to deliver its innovative products to the market," noted Mark Weinberg, CEO of BLX Funding.
"BLX Funding specializes in scalable purchase order financing and has years of experience that bioMETRX will tap into as we increase both production and sales," stated Mark R. Basile, CEO of bioMETRX, Inc. "We are expecting to produce over 120,000 smartTOUCH(TM) Garage Door Openers over the next 18 months to satisfy current and anticipated orders from retailers and consumers. We have seen a remarkable shift over the last 2 years by consumers who are quickly adopting biometric technology to simplify their lives," Basile went on to say.
The smartTOUCH(TM) Garage Door Opener is a universal, finger-activated garage door opener switch that works with all LiftMaster, Genie, Wayne-Dalton, Sears Craftsman and Marantec automatic garage door opener mechanisms. To learn more about this and other innovative products from bioMETRX, Inc., visit the Company's website at http://www.biometrx.net
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. designs and engineers biometrics-based products for the home security, consumer electronics, medical products and patient medical information markets; smartTOUCH Consumer Products, 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
Company information distributed through the Corporation Records Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.
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About bioMETRX, Inc.
bioMETRX, Inc. is focused on the design, development and engineering of biometrics products for consumers. The company's first product, the smartTOUCHª Garage Door Opener received its first order of 22,000 units from a major U.S. retailer.
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