Verifyme Inc Stock Price, News & Analysis

VerifyMe, Inc. (NASDAQ: VRME) announced that G3 VRM Acquisition Corp., co-sponsored by the company, filed a Registration Statement on Form S-1 for a proposed initial public offering (IPO) with a base offering of $100 million, potentially rising to $115 million with over-allotment. The acquisition targets sectors within technology and business services. VerifyMe will contribute approximately $2.5 million to G3 VRM Holdings for private placement warrants, maintaining a potential 43% indirect interest post-offering.

VerifyMe, Inc. (NASDAQ: VRME) has appointed Robert Dlugopolski as Regional Sales Manager, effective March 30, 2021. Dlugopolski, with over 12 years in brand protection and anti-counterfeit solutions, aims to enhance revenue growth in California and Seattle. His previous role at De La Rue Authentication Solutions yielded significant revenue and brand protection achievements. CEO Patrick White emphasized the need for Dlugopolski's expertise to increase market penetration in the expanding brand protection technology sector, reflecting a strategic response to growing counterfeit concerns across industries.

VerifyMe (NASDAQ:VRME) reported a 40% revenue increase for 2020, reaching $343,000, with a gross profit of $281,000. Despite operational losses rising to $3.57 million and a net loss of $5.90 million, the company has a strong cash position of $7.94 million. Key partnerships were established in 2020, expanding market opportunities. Management is optimistic about future revenue acceleration, particularly in sectors like apparel, pharmaceuticals, and e-commerce. A focus on integrating blockchain technology for enhanced tracking is also in place.

VerifyMe, Inc. (NASDAQ: VRME) announced its participation in the Inaugural Emerging Growth Virtual Conference, hosted by M-Vest LLC and Maxim Group LLC, on March 17-18, 2021. CEO Patrick White will engage in a Fireside Chat on March 18 at 3:30 PM EST. The conference will feature discussions with industry leaders across various sectors including healthcare and technology. Attendees can access exclusive content by becoming M-Vest members. VerifyMe provides advanced brand protection and customer engagement solutions through innovative technology.

VerifyMe, Inc. (NASDAQ: VRME) has signed a sales agency agreement with Syntax Technology Ltd., the exclusive distributor for HP Indigo products in China. This agreement allows Syntax to sell VerifyMe's technology solutions alongside HP Indigo products. Syntax, with over 600 installations and a strong presence in the digital printing market since 1999, enhances VerifyMe's reach in China, one of the largest economies globally. The partnership aims to support the growing demand for brand protection and counterfeiting prevention in the Chinese label and packaging industry.

VerifyMe, Inc. (NASDAQ: VRME) has appointed David Sandello as Director of Sales and Business Development for North America, aiming to expand revenue operations and accelerate growth. With 15 years of experience, Sandello previously served as Global Sales Director at De La Rue, successfully overseeing significant contracts across various industries. VerifyMe's technology solutions are witnessing increased demand amidst rising counterfeiting issues. CEO Patrick White emphasizes the importance of Sandello's leadership in scaling revenue during this growth phase.

VerifyMe (NASDAQ: VRME) announced an initial purchase order for 2 million anti-counterfeiting labels to ensure track and trace for surgical gloves amid the ongoing Covid-19 pandemic. This order marks the first under its partnership with Renavotio (OTC: RIII), emphasizing the urgency to combat counterfeit PPE. The tamper-evident labels feature multiple technologies aimed at brand protection. VerifyMe's technology will help Renavotio build trust with its clients, as highlighted by CEO Patrick White. The press release underscores the critical need for genuine PPE solutions.

VerifyMe, Inc. (NASDAQ: VRME) announced the sale of an additional 100,000 shares at $5.30 each, raising a total of $530,000 in gross proceeds. This sale is part of a larger offering of 1,650,000 shares, following the partial exercise of an underwriters’ over-allotment option. The transaction is being managed by Maxim Group LLC and Joseph Gunnar & Co., LLC. The company continues to explore opportunities in brand protection technology, specializing in counterfeiting prevention and authentication.

VerifyMe (NASDAQ: VRME) has entered into a supply agreement with INX International Ink Company to develop inks integrating VerifyMe's RainbowSecure marking technology. These inks will serve various industries, including beverage packaging and medical equipment. Collaborative testing has shown effectiveness in combating counterfeiting for a major beverage brand. The new ink solutions are anticipated to be available by Q2 2021, expanding VerifyMe's market opportunities.