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T Stamp Inc. (NASDAQ:IDAI), a microcap company with a market value of $8.34 million, announced Wednesday that it has fully repaid a secured promissory note previously issued to Streeterville Capital LLC. According to InvestingPro data, the company operates with moderate debt levels but faces challenges with short-term liquidity. The principal amount of the note was $2,210,000. As a result of the repayment, the note is no longer outstanding. This debt reduction comes at a crucial time, as InvestingPro analysis shows the company’s current ratio stands at 0.87, indicating tight liquidity conditions.
The company disclosed the transaction in a press release statement included in its filing with the U.S. Securities and Exchange Commission.
T Stamp Inc. is incorporated in Delaware and is listed on The NASDAQ Stock Market LLC. The filing was signed by Chief Executive Officer Gareth Genner.
In other recent news, Trust Stamp announced a partnership with Intel Corporation, featuring its AI-powered identity verification platform in a newly published brief. The platform, Trust Stamp Protect, utilizes Intel Xeon Scalable Processors and optimized AI models to provide efficient identity matching capabilities. Additionally, Trust Stamp has registered its TRUSTED Ethereum token on the Wyoming Digital Asset Register through its subsidiary, Global Server Management Inc. This token is linked to the company’s public wallet address and was initially deployed on the Ethereum blockchain in 2021.
Furthermore, Trust Stamp has secured a contract extension with a Fortune 500 financial services customer, extending their agreement until May 31, 2031. This extension includes modifications to the fee structure that account for increased usage and include inflation-linked adjustments. In another development, Trust Stamp has signed a Memorandum of Understanding with Ghana’s National Identity Agency. This agreement covers identity tokenization services and includes a revenue-sharing model, with an initial exclusivity period of two years.
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