LAKE
MARY, Fla., March 20,
2024 /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 global honey
brand Manuka Health has become its first end-to-end
integration with Amazon's Transparency service to further integrate
VerifyMe's brand protection within the Amazon marketplace.
VerifyMe selected Manuka Health as the first customer to take
advantage of VerifyMe's product cloud and machine learning
anti-counterfeit capability seamlessly integrated with the Amazon
Transparency service. VerifyMe's unique, per item, codes are
tracked in Amazon's systems and authenticated prior to a customer's
order shipment.
Mānuka honey from New Zealand
is prized for its properties and celebrated globally due to its
rich flavor profile and unique health characteristics, along with
limited availability. Because of its prized status in the honey
world, Mānuka honey products are frequently the target of
counterfeiters. Manuka Health, a global leader in Mānuka Honey have
linked their current VerifyMe® item level identification
QR code with Amazon Transparency's protection program to enhance
trust with consumers that the product they are getting is genuine
Mānuka honey.
"We are already using VerifyMe's product authentication cloud to
engage with our customers to provide them with a way to
authenticate our products. Amazon is an important part of our
expanding distribution strategy. Tracing our honey is part of
VerifyMe's solution, and now we are seamlessly extending product
authentication to our customers in Amazon's stores as part of the
Transparency program" said Jodie
Keenan, Group Innovation and Growth Manager from Manuka
Health.
"The extension of this collaboration arises from Manuka Health
already implementing VerifyMe's product serialization on their
products. This now means integration with Amazon Transparency's
protections is easier, faster, and doesn't require any changes to
our existing manufacturing and packaging processes" Ms. Keenan
further commented.
Brands that use unique per item codes from the VerifyMe platform
can now have products authenticated as genuine in Amazon's stores
and marketplace prior to fulfillment, without any changes to
existing manufacturing and packaging processes.
"We believe many of our customers will benefit from this
initiative. We are excited to support our customers and Amazon as
they protect consumers from counterfeits" said VerifyMe's CEO
Adam Stedham. "Our acquisition of
Trust Codes in 2023 gave us an interoperable and scalable GS1
harmonized product authentication cloud that we were able to
integrate with Amazon Transparency. This is an important initiative
that gives consumers and brands more information and helps prove
authenticity for products sold through online and offline
platforms" he said.
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME),
together with its subsidiaries, PeriShip Global and Trust Codes
Global, is a traceability and customer support services provider
using specialized software and process technology. The company
operates a Precision Logistics Segment and an Authentication
Segment to provide specialized logistics for
time-and-temperature sensitive products, as well as item level
traceability, anti-diversion and anti-counterfeit protection, brand
protection and enhancement technology solutions. VerifyMe serves
customers worldwide. To learn more, visit
https://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
interoperability with Amazon Transparency and its ability to
provide value to its customer and shareholders. The words "can,"
"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 whether our customers and brands
seek to use our product serialization on their products when
utilizing Amazon Transparency, whether our competitors also
collaborate with Amazon Transparency to develop competing products,
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.