Nemex Resources (ASX:NXR) announced to the ASX on Monday that Wavefront Biometric Technologies Pty Ltd (WBT) has filed a provisional patent application for new intellectual property generated during Phase 2 development. Nemex announced last month that it would increase its stake in Wavefront Biometric by 10 per cent to 40 per cent in total, with the right to increase its interest to 51 per cent. The patent application has been titled MULTI-BIOMETRIC AUTHENTICATION with an application number 2015901256. The filing is an extension of the original Corneal Authentication patent. It uses a single censor to combine unique features of both the cornea and the iris.
WBT is currently attempting to develop and commercialise a unique identity authentication technology. The technology will authenticate a person’s identity using the pattern of light reflected back from the tear film of the corneal surface of the eye. The technology attempts to ensure the captured light is from a “real” person using a “Liveness Test”. Other commercially available iris scanners do not have WBT’s capabilities of liveness testing in terms of robust facility to resist replay attacks or other spoofing methods. WBT’s technology is also different from other iris systems because its technology is able to capture unique features of the iris in the visible light spectrum. The biometric company has filed this patent to ensure the commercial viability of the technology.
Shares of Nexem, the majority shareholder of WBT, are up .6c, or 7.90 per cent, at 8.2c per share near the end of trading hours on Monday. Shares of NXR have advanced over 200 per cent in the last 12 months and over 90 per cent so far this year
Author: Matthew Dibb
Apr 20, 2015
Matthew has an extensive track record in equity markets and derivative advisory. Spanning a career in several investment banks and prviate wealth groups including Macquarie Bank, his specialist knowledge relates to capital market advisory and equity market analytics. Matthew has a diploma in Financial Advisory, Applied Finance and is ADA 1 & 2 accredited.