PeriShip

VerifyMe Appoints new Chief Executive Officer

Retrieved on: 
Wednesday, May 31, 2023

LAKE MARY, Fla., May 31, 2023 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) together with its subsidiaries, Trust Codes Global Limited ("Trust Codes Global") and PeriShip Global LLC ("PeriShip Global"), (together "VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, supply chain traceability and monitoring, authentication, anti-counterfeiting, and data-rich consumer engagement services, announced today that Adam Stedham has been appointed Chief Executive Officer.

Key Points: 
  • LAKE MARY, Fla., May 31, 2023 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) together with its subsidiaries, Trust Codes Global Limited ("Trust Codes Global") and PeriShip Global LLC ("PeriShip Global"), (together "VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, supply chain traceability and monitoring, authentication, anti-counterfeiting, and data-rich consumer engagement services, announced today that Adam Stedham has been appointed Chief Executive Officer.
  • Mr. Stedham, who joined the Board of VerifyMe in April 2022 has been named the new Chief Executive Officer of VerifyMe.
  • Mr. Greenberg will remain in his role as Chairman of the Board but will no longer be executive chairman.
  • Incoming CEO Adam Stedham said, "With the recent acquisitions by VerifyMe and the growth opportunities in the marketplace, this is a very important time for the Company.

VerifyMe Acquires Assets of Digital Identity Brand Protection Company, Trust Codes Limited

Retrieved on: 
Thursday, March 2, 2023

LAKE MARY, Fla. , March 2, 2023 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) together with its subsidiary PeriShip Global LLC ("PeriShip Global"), (together "VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, supply chain monitoring, authentication, and data-rich consumer engagement services, announced today that it has acquired the assets of Trust Codes Limited, a New Zealand business specializing in unique item level codes for brand protection, data intelligence and consumer engagement technology with an expertise in the food and agriculture industry.  This acquisition will strengthen VerifyMe's ability to deliver product traceability services to a global customer base.

Key Points: 
  • Trust Codes Limited, founded in 2013, delivers cloud-based brand protection based on a unique per-item digital identity.
  • Brand owners are able to engage directly with their consumer to build brand trust and connect to the provenance of a product.
  • Trust Codes Limited currently has employees in New Zealand and Australia and an existing customer base with recurring revenue.
  • "Trust Codes Limited with its experienced management team and its proven brand protection solutions is excited at the opportunities this transaction creates for us to work with the VerifyMe team and expand our full suite of services into the US market and globally," said Paul Ryan, Trust Codes Limited, CEO.

VerifyMe Announces Select Preliminary Unaudited Fourth Quarter Record Revenue Results

Retrieved on: 
Tuesday, February 21, 2023

Preliminary fourth quarter 2022, revenue of approximately $9.7 million expected compared to $0.3 million in Q4 2021 and $5.2 million in Q3, 2022 representing growth of approximately 87% quarter over quarter.

Key Points: 
  • Preliminary fourth quarter 2022, revenue of approximately $9.7 million expected compared to $0.3 million in Q4 2021 and $5.2 million in Q3, 2022 representing growth of approximately 87% quarter over quarter.
  • The fourth quarter is traditionally the highest revenue quarter for our PeriShip Global Solutions segment primarily due to the holiday season and Q4 of fiscal 2022 is expected to exceed expectations.
  • Guidance for our VerifyMe Solutions segment was at least 50% growth per annum and in 2022 our preliminary unaudited revenue is 60% growth compared to 2021.
  • VerifyMe's Chief Executive Officer, Patrick White, commented, "We are excited to share our full results where we expect to exceed revenue expectations in 2022 and achieve positive EBITDA in the fourth quarter with adjustments consistent with the third quarter.

VerifyMe Corporate Update

Retrieved on: 
Thursday, December 15, 2022

Dynamic VerifyMe codes allow consumers to authenticate the product and receive detailed product-specific information using their smartphones.

Key Points: 
  • Dynamic VerifyMe codes allow consumers to authenticate the product and receive detailed product-specific information using their smartphones.
  • VerifyMe, Inc. (NASDAQ: VRME), together with its wholly owned subsidiary PeriShip Global, is a software driven logistics provider of high-touch, end-to-end logistics management.
  • In addition, VerifyMe provides brand protection and consumer engagement solutions allowing brand owners to gather business intelligence.
  • We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

VerifyMe and HP Indigo Ltd. enter into Five-Year Extension and Expansion of Agreement

Retrieved on: 
Thursday, December 1, 2022

VerifyMe has entered into an amended agreement with HP Indigo to provide VerifyInksecurity ink taggants for a line of HP Indigo digital press models.

Key Points: 
  • VerifyMe has entered into an amended agreement with HP Indigo to provide VerifyInksecurity ink taggants for a line of HP Indigo digital press models.
  • HP Indigo sells VerifyMe's security ink technology in ink cannisters for use on the HP Indigo 6000 series as "HP Security Electroink".
  • VerifyMe Chief Executive Officer, Patrick White, commented, "We are very excited to announce this extension of our strategic partnership with HP Indigo.
  • HP Indigo Ltd. is a division of HP Inc.'s Personalization and Industrial Organization with offices around the world and its headquarters in Ness Ziona, Israel.

VerifyMe Reports Third Quarter 2022 Financial Results and Positive Outlook

Retrieved on: 
Thursday, November 10, 2022

Patrick White, VerifyMe's CEO stated, "The acquisition of the PeriShip Global business continues to improve our financial results as shown by our near breakeven adjusted EBITDA in the third quarter.

Key Points: 
  • Patrick White, VerifyMe's CEO stated, "The acquisition of the PeriShip Global business continues to improve our financial results as shown by our near breakeven adjusted EBITDA in the third quarter.
  • This press release includes both financial measures in accordance with U.S. generally accepted accounting principles ("GAAP"), as well as non-GAAP financial measures.
  • They may not be indicative of the historical operating results of VerifyMe nor are they intended to be predictive of potential future results.
  • The Company believes that providing the non-GAAP financial measures, together with the reconciliation to GAAP, helps investors make comparisons between VerifyMe and other companies.

VerifyMe to Report Third Quarter 2022 Financial Results on November 10, 2022

Retrieved on: 
Tuesday, November 8, 2022

In conjunction with the release, VerifyMe has scheduled an investor conference call and webcast that day at 11:00 a.m. Eastern Time.

Key Points: 
  • In conjunction with the release, VerifyMe has scheduled an investor conference call and webcast that day at 11:00 a.m. Eastern Time.
  • Prepared remarks regarding the company's financial and operational results will be followed by a question and answer period with the executive management team.
  • The presentation slides broadcast via the webcast will also be available on the Investors section of the VerifyMe website the morning of the call.
  • We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

VerifyMe Enters into Contract with International Luxury Apparel Company

Retrieved on: 
Thursday, October 6, 2022

On September 23, 2022, VerifyMe entered into an agreement to provide its brand protection labels with dynamic QR codes to an international luxury apparel company.

Key Points: 
  • On September 23, 2022, VerifyMe entered into an agreement to provide its brand protection labels with dynamic QR codes to an international luxury apparel company.
  • "We are very excited to announce this contract and order with a prestigious well-known international fashion industry leader," said Patrick White, Chief Executive Officer.
  • "This is our second contract in the apparel space this year".
  • In addition, VerifyMe technologies give brand owners the ability to gather business intelligence while engaging directly with their consumers.

VerifyMe Subsidiary Enters into a $2 million Term Loan Agreement and a $1 million line of credit with PNC Bank and Repays $2.0 million promissory note from PeriShip Acquisition

Retrieved on: 
Tuesday, September 27, 2022

The new debt facility includes a $1 million revolving line of credit with a term of one-year, expiring inSeptember 2023.

Key Points: 
  • The new debt facility includes a $1 million revolving line of credit with a term of one-year, expiring inSeptember 2023.
  • The debt facility also includes a four-year term loan for $2 million which matures in September of 2026.
  • The term loan incurs interest per annum at a rate equal to the sum of Daily SOFR plus 3.1%.
  • The revolving line of credit and term loan are guaranteed by the Company and secured by the assets of PeriShip and the Company.

VerifyMe Enters into Multi-Year Contract Extension with Strategic Partner and Largest Customer of PeriShip

Retrieved on: 
Wednesday, August 31, 2022

The term of the agreement, originally scheduled to expire on March1,2024, has been extended to March1,2026.

Key Points: 
  • The term of the agreement, originally scheduled to expire on March1,2024, has been extended to March1,2026.
  • "We believe agreement to extend is a result of the value added offering we provide to our mutual customers.
  • "We are very pleased that our strategic partner continues to put their trust in our company, to meet their customer's needs, and look forward to continuing our long-standing relationship," saidPatrick White, CEO.
  • In addition, VerifyMe technologies give brand owners the ability to gather business intelligence while engaging directly with their consumers.