November 24, 2015 -
Nemex Resources announced it will transition to a biometrics focused technology company with the completion of hardware and software testing in the first quarter of 2016.
Nemex has been testing Wavefront’s biometric technology systems which has been extended into early next year to get a more in-depth analysis of performance metrics.
The testing is being conducted at the International Centre for Biometric Research at Purdue University in an effort to validate the results of the internal performance testing previously completed by Wavefront and its consultants.
Wavefront’s short-term plans include improving the miniaturization, performance and usability of the biometric solutions through the further enhancement of software and algorithm development.
The multimodal biometric technology provides a unique solution to human biometric identification, however, the company will continue to make further improvements to create a competitive product in the rapidly evolving mobile market.
Nemex also plans to purchase shares in Wavefront equating to about 10.5% of the company in exchange for 45 million Nemex shares, which will result in Nemex holding a 50.5% interest in Wavefront.