Trust Stamp (Euronext Growth: AIID ID), announces that it has filed a Form 8-K with the Securities and Exchange Commission (“SEC”).
On July 15, 2022, the Company entered into a Second Amendment Agreement (the “Second Amendment”) with U.S. Immigration and Customs Enforcement (“ICE”) to amend the terms of the Company’s Amended Agreement with ICE, originally assigned to the Company on September 23, 2021 and amended on March 27, 2022 (the “ICE Contract”, originally filed as Exhibit 6.15 to the Company’s Offering Statement on Form 1-A filed with the Securities and Exchange Commission (the “SEC”) on November 22, 2021).
As previously disclosed in the Company’s current report on Form 8-K filed with the SEC on April 21, 2022, on April 15, 2022, the Company and ICE entered into an agreement to amend (the “First Amendment”) the ICE Contract which had the effect of implementing a cessation of performance for up to 90 days of the Company’s and ICE’s obligations under the previously agreed ICE contract between March 27, 2022 and September 26, 2022.
The Second Amendment had the effect of implementing an additional cessation of performance of the Company’s and ICE’s obligations under the ICE Contract previously agreed to between March 27, 2022 and September 26, 2022, for up to 60 days. .
The First Amendment was entered into due to a recent change in legislation (enacted by the Department of Homeland Security Appropriations Act of 2022) that requires notification of Congress in order for ICE to award a contract or sub-contract to a particular entity for any pilot or demonstration project. program that uses more than 5 full-time equivalents or that costs more than $1,000,000. This change in legislation was applied retroactively to the March 27, 2022 amendment to the ICE contract. The up to 90-day termination of the ICE contract provided for by the First Amendment was intended to give ICE sufficient time to obtain congressional notification for the modification of the ICE contract. However, as of July 15, 2022 (the end of the 90-day cessation period), ICE had not yet been able to obtain such notification from Congress.
The second amendment seeks to give ICE additional time to obtain such notification from Congress, so that the company can continue to provide services to ICE under the ICE contract.
Trust stamp email: [email protected]
Gareth Genner, Managing Director
Davy (Euronext Growth listing sponsor) Tel: +353 1 679 6363
Investor Relations Tel: +1 212-671-1021
Crescendo Communication E-mail: [email protected]
About the trust stamp
Trust Stamp is a global provider of AI-powered identity services for use in many industries including banking and finance, regulatory compliance, government, real estate, communications and humanitarian services. Its technology provides organizations with advanced biometric identity solutions that reduce fraud, protect the privacy of personal data, increase operational efficiency and reach a wider user base globally through its unique transformation and data comparison.
With operations in seven countries in North America, Europe, Asia and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI) and on Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 100 people.
All statements in this release that are not based on historical facts are “forward-looking statements”, including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views regarding future events based on information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unforeseen events.