The biometric smart cards are scheduled for delivery beginning in the third quarter of 2016, and the company expects to deliver 650,000 units to the undisclosed customer in 2017, necessitating quick fundraising action.
The company has been ramping up towards supplying mass market biometric smart cards. Following the requisite registrations and filings, NEXT will have an issued share capital of 14,751.,855 for the same number of shares. It also has plans to compensate existing shareholders which it will seek approval for at its next annual general meeting this week.
In related news, NEXT also partnered with Arrow Electronics to launch a Windows 10 IoT solution.
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