VerifyMe Wins Contract with International Product Inspection Technology Company
The first customer will be Global Consumer Products Company
ROCHESTER, NY, March 24, 2022 /PRNewswire/ — Check Me, Inc.. (NASDAQ: VRME) (“VerifyMe”, “we”, “us”, or the “Company”), providing data-rich authentication, supply chain monitoring, and consumer engagement capabilities using unique smartphone-readable codes on their products to brand owners, today announced the signing of an agreement with a leading international product security company
product authentication and mobile inspection systems.
As part of this new agreement, VerifyMe will provide its proprietary invisible ink, patented mobile phone authentication device and a custom mobile application to authenticate and decode secret variable codes to detect counterfeit and diverted products for the customer of this security company.
The security company will supply VerifyMe’s mobile phone authentication equipment to brand inspectors at a global consumer products company that applies VerifyMe’s variable invisible ink technology to labels and packaging.
“We are very pleased to announce this new win and are committed to a successful partnership over the coming years,” said Patrick White, Chief Executive Officer. “We are proud that a leading brand protection company has chosen VerifyMe’s authentication technology over the competition for their client. We look forward to working with other brand protection companies and sharing insights. new gains with our shareholders.”
Revenue will be recognized based on the security company’s customer’s discretionary annual usage which we estimate will currently be at least 500,000 units per year.
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), is a technology solutions provider specializing in products that connect brands to consumers. VerifyMe technologies allow brand owners to collect business intelligence while interacting directly with their consumers. VerifyMe technologies also provide brand and supply chain protection functions such as counterfeit prevention, authentication, serialization, and track and trace functions for labels, packaging and products. To learn more, visit www.verifyme.com.
Caution Regarding Forward-Looking Statements
This release contains forward-looking statements regarding revenue opportunities, use of our products in other devices and locations, strategic partnerships, marketing efforts, our sales pipeline and opportunities, as well as geographies, markets and industries into which we intend to expand our business. The words “expect”, “should”, “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 regarding 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 materially from those set forth in the forward-looking statements include the actual annual usage by the security company’s customer, if the security company chooses to terminate our agreement, if other security company customers use our products or services, the impact of the COVID-19 pandemic, intellectual property disputes, the successful development of our sales and marketing capabilities, our ability to retain key management personnel, our ability to work with partners to sell our technologies to companies, production difficulties, our inability to enter into contracts and arrangements with future partners, issues that may affect large companies’ reluctance to change their product purchases , the acceptance of our technologies and the effectiveness of our authenticators in the field. These risk factors and uncertainties include those described in more detail in check me out Annual report and quarterly reports filed with the Securities and Exchange Commission, including under the heading “Risk Factors”. Should one or more of these risks or uncertainties materialize, or should one of our underlying assumptions prove incorrect, actual results could differ materially from those currently anticipated. 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 arise from time to time and it is impossible 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 required by law.
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