Ann: Security Biometric Technology Update, page-2

Technology development program undertaken by Wavefront Biometric
Technologies Pty Ltd (WBT) progressing on track with completion of current
phase expected in February 2015.
 Development of multi-modal biometric system. Potential for new
Intellectual property (IP) patent applications being assessed.
 NXR advances $450,000 to assist WBT continue its development
program on schedule.
Nemex Resources Limited (NXR) is pleased to provide an update on the
progress of the technology development program being undertaken by WBT.
NXR currently holds a 30% interest in WBT and has the right to increase this to
a 51% interest.
WBT has developed and patented a biometric technology for reliable and
secure authentication of a person’s identity, based on capturing light reflected
from the tear film on the corneal surface of the eye.
Current development work on track
In April 2014 WBT commenced a three phase program with the objective of
adapting its unique biometric technology to a mobile platform and
commercialising the product.
The second phase of the development program is in progress and is on track
for completion in February 2015. This work is focussing on improving the
design and performance of the prototype unit and includes completing a
series of performance tests of the prototype unit. Two of the four planned
tests have been completed and the results of these tests demonstrate the
development program is on track to deliver performance comparable to the
current industry leading biometric modality (the iris modality). WBT has also
produced four prototype units for the performance testing.
WBT’s competitive advantages in the biometric sector include its high fidelity
(reliability and accuracy), universal application (including nominal enrolment
issues) and fraud resistance. WBT’s technology also has as an intrinsic feature
a reliable liveness test which significantly increases security levels.
Identification of multi-modal biometric system
In addition to the work completed in accordance with the planned development program, the
WBT Development Team has also developed and progressed the concept of a multi modal
biometric system that incorporates WBT’s unique, patented technology and other eye-based
biometric modalities. This exciting development has the potential to further improve system
performance by combining the strengths of multiple biometric modalities. WBT is assessing, in
consultation with its patent attorney, whether to file further patent applications.
Commencement of commercialisation
WBT recently initiated commercialisation discussions. The technology is considered to have
potential applications across global sectors including financial/banking, defence/military,
healthcare, aviation and border control.
WBT Funding
NXR has agreed to lend WBT $450,000 (as an advance on the next tranche of funding due on
completion of the current development phase) to ensure WBT has sufficient funding to continue
its aggressive development program on schedule. The development program remains within
budget, and the advance reflects timing changes rather than cost increases.