Business
VerifyMe Awarded Contract with International Product Inspection Technology Company
First Client will be Global Consumer Products Company ROCHESTER, N.Y., March 24, 2022 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) ("VerifyMe," "we," "our,"
About this update from Verifyme, Inc.
[{"type":"text","content":" First Client will be Global Consumer Products Company\nROCHESTER, N.Y., March 24, 2022 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) (\"VerifyMe,\" \"we,\" \"our,\" or the \"Company\"), providing authentication, supply chain monitoring, and data-rich consumer engagement features using unique smartphone readable codes on their products to brand owners, announced today that they have signed an agreement with a premier international product security company that specializes in product authentication and mobile inspection systems.\n\n \n \n \n \n \n \n\n \nAs part of this new agreement, VerifyMe will provide its proprietary invisible ink, its patented mobile phone authentication device, and a custom mobile app to authenticate and decode covert variable codes to detect counterfeit and diverted products for this security company's client.\nThe security company will provide VerifyMe's mobile phone authentication equipment to brand inspectors of a global consumer products company that is applying VerifyMe's variable invisible ink technology on labels and packaging.\n\"We are very excited to announce this new win and are committed to a successful partnership over the next several years,\" said Patrick White, Chief Executive Officer. \"We are proud that a premier brand protection company selected VerifyMe's authentication technology over the competition for their client. We look forward to working with other brand protection firms and sharing new wins with our shareholders.\" \nRevenue will be recognized based on the discretionary annual usage by the security company's client which we currently expect will be at least 500,000 units annually.\nAbout VerifyMe, Inc.VerifyMe, Inc. (NASDAQ: VRME), is a technology solutions provider specializing in products to connect brands with consumers. VerifyMe technologies give brand owners the ability to gather business intelligence while engaging directly with their consumers. VerifyMe technologies also provide brand protection and supply chain functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products. To learn more, visit www.verifyme.com.\nCautionary Note Regarding Forward-Looking StatementsThis release contains forward-looking statements regarding revenue opportunities, the use of our products in additional devices and lo...