The Company also plans to serve the access manage and law enforcement facial awareness markets. Effective June 25, 2012, the Company acquired100% of the membership interests in 3D ID, LLC“3D ID”,a restricted liability agency formed in Florida in February 2011 and owned by the Company’s founders. Since this was a transactionbetween entities under common manage in keeping with Accounting Standards Codification “ASC” 805, “BusinessCombinations”, Nxt ID diagnosed the net assets of 3D ID at their sporting amounts in the money owed of Nxt ID on the datethat 3D ID was arranged, February 14, 2011. We are an “emerginggrowth company” as defined in the Jumpstart Our Business Startups Act of 2012, or JOBS Act. We will remain an rising growthcompany for up to 5 years, or until the earliest of i the last day of the first fiscal year in which our annual gross revenueexceed $1 billion, ii the date that we become a ‘‘large multiplied filer’’ as described in Rule 12b 2under the Exchange Act, which would occur if the market value of our common stock that’s held by non associates exceeds $700 millionas of the last business day of our most lately completed second fiscal quarter or iii the date on which we have got issued morethan $1 billion in non convertible debt in the course of the preceding three year period. Pursuant to Section 102 of the JOBS Act, we haveprovided decreased government reimbursement disclosure and have disregarded a repayment dialogue and analysis from this prospectus.
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The Company also plans to serve the access manage and law enforcement facial awareness markets. Effective June 25, 2012, the Company acquired100% of the membership interests in 3D ID, LLC“3D ID”,a restricted liability agency formed in Florida in February 2011 and owned by the Company’s founders. Since this was a transactionbetween entities under common manage in keeping with Accounting Standards Codification “ASC” 805, “BusinessCombinations”, Nxt ID diagnosed the net assets of 3D ID at their sporting amounts in the money owed of Nxt ID on the datethat 3D ID was arranged, February 14, 2011. We are an “emerginggrowth company” as defined in the Jumpstart Our Business Startups Act of 2012, or JOBS Act. We will remain an rising growthcompany for up to 5 years, or until the earliest of i the last day of the first fiscal year in which our annual gross revenueexceed $1 billion, ii the date that we become a ‘‘large multiplied filer’’ as described in Rule 12b 2under the Exchange Act, which would occur if the market value of our common stock that’s held by non associates exceeds $700 millionas of the last business day of our most lately completed second fiscal quarter or iii the date on which we have got issued morethan $1 billion in non convertible debt in the course of the preceding three year period. Pursuant to Section 102 of the JOBS Act, we haveprovided decreased government reimbursement disclosure and have disregarded a repayment dialogue and analysis from this prospectus.