T Stamp terminates IGS agreement, launches Tap-In Band for ATD market

T Stamp Inc

MSA with Innovative Government Solutions terminated Sep 15, 2023; $2.6M prepaid revenue now recognizable.
Launched Tap-In Band, a battery-free NFC wristband for community supervision check-ins.
Band uses provisional patent #63/581,409 covering multi-factor authentication with tamper-proof band and biometrics.
No GPS or battery, reduces user privacy concerns; designed for Alternative to Detention programs.
Trust Stamp CEO calls Tap-In Band a game-changer; costs up to 100x less than legacy devices.

item 1.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

T Stamp Inc terminated Master Services Agreement with Innovative Government Solutions (effective 2023-09-15).

Action: termination
Counterparty: Innovative Government Solutions
Effective: 2023-09-15

Exact text from the filing

The Master Services Agreement (“MSA”) with Innovative Government Solutions (“IGS”) first entered into on September 15, 2022, under which the Company and IGS agreed to jointly offer services, terminated on September 15, 2023, thereby terminating IGS’ license to use and resell the Company’s technology.

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Source: SEC EDGAR

accession 0001718939-23-000016

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