LAKE
MARY, Fla., Sept. 5,
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, authentication, anti-counterfeiting, and data-rich
brand enhancement services, announced today that they will be
demonstrating their connected packaging solution in conjunction
with Amcor at Pack Expo in Las
Vegas between September 11 and 13
2023.
The evolution of connected packaging and GS1 driven 2D
barcode migration means consumer-facing companies are increasingly
adopting digital capabilities on packaging to protect their brand,
facilitate traceability and engage with conscious and curious
consumers. The Company is working with Amcor to demonstrate that
this digital transformation is possible without significant process
change, using a "digital ready" concept leveraging a unique
identifier on every pack.
Don Schnabel, Marketing Director
- Meat, Poultry and Seafood at Amcor says, "The beauty of connected
packaging is that multiple objectives can be achieved through one
unique code on each package, enabling a frictionless experience for
consumers and ultimate traceability for processors.
Don Schnabel continued "We are
demonstrating the capability to print unique GS1 compliant QR codes
on demand at Pack Expo, using our Moda Bag. This on-demand
making unit can print both fixed and variable graphics on site at
the processor. The unit is wash-down ready and is built to replace
a rack of premade bags on the packaging floor. Visitors to
Pack Expo can view a live demonstration of the Amcor Moda Bag at
booth SU07244".
The VerifyMe solution integrates with the new GS1 Digital
Link standard to provide traceability through the supply-chain to
end consumers, while at the same time helping brands and producers
to comply with traceability regulations such as the US FDA Food
Traceability Rule. Consumers are increasingly curious about the
provenance and attributes of the food they are consuming, and this
technology provides a channel to share that information backed by
data-driven evidence.
Adam Stedham, President and CEO
of VerifyMe said "We are delighted that Amcor is demonstrating our
connected packaging solution at Pack Expo in Las Vegas. VerifyMe acquired, the New Zealand based, Trust Codes Global to
vertically integrate its technology stack, brand protection, and
brand enhancement offerings into our Authentication Segment. We
believe Trust Codes Global's deep domain expertise and product
development in machine learning and AI, and industry expertise in
food, nutrition, beverage, and nutraceuticals, provides the
capability to deliver better outcomes to customers facing
counterfeit, brand connection and diversion issues."
Incorporating the Trust Codes Global leading product cloud into
VerifyMe's Authentication services significantly elevates our
traceability offering. As a product offering, our clients have
access to data-driven brand protection and standards-based
traceability out of the box. Trust Codes Global has a proven
platform, with customers who are leading the way in traceability
and GS1 2D barcode migration. We believe VerifyMe is
well-positioned to lead North American and European customers along
the journey of complying with new traceability requirements.
About Amcor
Amcor is a global leader in developing and
producing responsible packaging solutions across a variety of
materials for food, beverage, pharmaceutical, medical, home and
personal-care, and other products. Amcor works with leading
companies around the world to protect their products and the people
who rely on them, differentiate brands, and improve supply chains
through a range of flexible and rigid packaging, specialty cartons,
closures, and services. The company is focused on making packaging
that is increasingly lighter weight, recyclable and reusable, and
made using an increasing amount of recycled content. In fiscal year
2023, 41,000 Amcor people generated $14.7
billion in annual sales from operations that span 218
locations in 41 countries. NYSE: AMCR; ASX: AMC
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME),
together with its subsidiaries, Trust Codes Global and PeriShip
Global, provides traceability, brand protection and brand
enhancement solutions. The company operates an Authentication
Segment and a Precision Logistics Segment to provide
item-level traceability, anti-diversion and anti-counterfeit
protection, brand protection and enhancement technology solutions,
as well as specialized logistics for time and temperature sensitive
products. VerifyMe serves customers worldwide. To learn more, visit
www.verifyme.com.
Cautionary Note Regarding Forward-Looking
Statements
This release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 including statements regarding the Company's
strategic reorganization, its position to provide value to its
customer and shareholders, and expectations related to its customer
base and revenue growth. The words "believe," "will," 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 our engagement in future acquisitions or strategic
partnerships that increase our capital requirements or cause us to
incur debt or assume contingent liabilities, the successful
integration of our acquisitions (including the assets of PeriShip
Global and Trust Codes Global), our reliance on one key strategic
partner for shipping services in our Precision Logistics segment,
competition including by our key strategic partner, seasonal trends
in our business, sever climate conditions, the highly competitive
nature of the industry in which we operate, our brand image and
corporate reputation, impairments related to our goodwill and other
intangible assets, economic and other factors such as recessions,
downturns in the economy, inflation, global uncertainty and
instability, the effects of pandemics, changes in United States social, political, and
regulatory conditions and/or a disruption of financial markets,
reduced freight volumes due to economic conditions, reduced
discretionary spending in a recessionary environment, global
supply-chain delays or shortages, fluctuations in labor costs, raw
materials, and changes in the availability of key suppliers, our
history of losses, our ability to use our net operating losses to
offset future taxable income, the confusion of our name brand with
other brands, the ability of our technology to work as anticipated
and to successfully provide analytics logistics management, our
ability to manage our growth effectively, the small number of
customers that account for our revenue, our ability to successfully
develop and expand our sales and marketing capabilities, risks
related to doing business outside of the U.S., intellectual
property litigation, our ability to successfully develop,
implement, maintain, upgrade, enhance, and protect our information
technology systems, our reliance on third-party information
technology service providers, our ability to respond to evolving
laws related to information technology such as privacy laws, risks
related to deriving revenue from some clients in the cannabis
industry, our ability to retain key management personnel, our
ability to work with partners in selling our technologies to
businesses, production difficulties, our inability to enter into
contracts and arrangements with future partners, our ability to
acquire new customers, issues which may affect the reluctance of
large companies to change their purchasing of products, acceptance
of our technologies and the efficiency of our authenticators in the
field, our ability to comply with the continued listing standards
of the Nasdaq Capital Market, and our ability to timely pay amounts
due and comply with the covenants under our debt facilities. These
risk factors and uncertainties include those more fully described
in VerifyMe's Annual Report and Quarterly Reports filed with the
Securities and Exchange Commission, including under the heading
entitled "Risk Factors." Should one or more of these risks or
uncertainties materialize, or should any of our underlying
assumptions prove incorrect, actual results may vary 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
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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SOURCE VerifyMe, Inc.