Anticipates No Operational Disruption - "VerifyMe As Authentic™" Labels Available for All Coronavirus Related Products
ROCHESTER, NY / ACCESSWIRE / April 2, 2020 / VerifyMe, Inc. (OTCQB:VRME), a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, track and trace features for labels, packaging and products, today provided an operational and strategic update in light of current global upheaval related to the COVID-19 pandemic.
VerifyMe Chief Executive Officer Patrick White commented, "The evolving COVID-19 pandemic is impacting everyone and has led to challenging times from both a public health and economic perspective. In this time of uncertainty, global upheaval, and severe market volatility, VerifyMe is fortunate to have a dynamic team with the ability to seamlessly work remotely to ensure no operational disruption. We continue to be in contact with our strategic partners, current customers and prospective domestic and global customers."
White continued, "Our recent cash infusion from our securities offering that closed on March 6, which included participation from certain members of our Board of Directors and management, enables us to continue to deliver on the continued global demand for our digital technology solutions that provide identifiers and serialization for authenticating, tracking and tracing functions for labels, packaging and products."
White continued, "This coronavirus global pandemic has caused a major spike in demand for safety products such as masks and gloves, COVID-19 test kits, medications and vaccines to treat the virus, which we believe has further caused an increase in counterfeit products. We understand the concerns over the counterfeiting problems and recommend that consumers demand the ability to test for authenticity from e-commerce, retailers and brand owners for any and all products, particularly those trying to take advantage of the coronavirus pandemic and selling fake safety and protection products, test kits, medications and vaccines."
White concluded, "VerifyMe's suite of technology solutions for global manufacturers, distributors and sellers are designed to allow consumers to prove authenticity with their smartphone. VerifyMe performs a legitimacy test for all manufactures seeking our "authenticity" labels prior to distribution. Any interested global manufacturer seeking to provide their customers our authenticity labels, known as "VerifyMe as AuthenticTM" to affix to their products should contact us immediately."
About VerifyMe, Inc.
VerifyMe, Inc., is a technology solutions company that markets products supported by patents, patent applications and trade secrets which provide identifiers and serialization for authenticating, tracking and tracing functions for labels, packaging and products. The company also markets multi-factor biometric verification solutions to verify people. VerifyMe's physical technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track-and-trace software. The company's digital technologies authenticate people by performing strong, multi-factor biometric verification via its patented digital software platforms. To learn more, visit www.verifyme.com
Cautionary Note Regarding Forward-looking Statements
This release contains forward-looking statements regarding revenue opportunities, the use of our products in additional presses and locations, the results of ongoing tests, and roll-out of our products and authentication devices which involve uncertainty and risk. The words "believe," "may", "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. 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. Important factors that could cause actual results to differ from those in the forward-looking statements include the company's ability to work with partners in selling its technologies to businesses, production difficulties, our inability to enter into contracts and deals with future partners, and issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies, the efficiency of our authenticators in the field, our patents including potential litigation, and the ongoing novel COVID-19 pandemic. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. 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.
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