Innovative Card Technologies Inc. has completed a financial restructuring that gives the Los Angeles company $1.2 million in capital to expand sales of its DisplayCard, which generates a one-time-use numeric code on a screen in the face of the card.
The transactions "enable us to focus on expanding our markets," Richard Nathan, InCard's president and chief executive, said in a press release last week.
InCard said it met all the conditions in a July 11 agreement between InCard and EMC Corp. of Hopkinton, Mass., whose RSA Security Inc. unit is a leading maker of code-generating tokens.
