MARCH 1--IQ Biometrix California Inc. (Cupertino, CA; www.iqbiometrix.com), a provider of facial comparison and security solutions for law enforcement, government, and intelligence agencies, has signed a definitive agreement for a reverse merger with JV Web of Houston as part of a broader strategy to accelerate the company's growth and broaden the availability of its product line. The merger includes commitments for up to $1 million of equity funding, a portion of which has been funded and the balance expected to be completed within one month.
Greg Micek, founder of JV Web, has been appointed to the new position of chief financial officer of IQ Biometrix, and Richard K. Thompson has been appointed chief operating officer. Micek and Thompson will work on the IQ Biometrix executive team to roll out its products around the world.
Eric McAfee, principal in Berg McAfee Companies (Cupertino), has been appointed vice chairman of the company's board of directors. Berg McAfee has holdings in more than 20 technology companies.