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.
Manuka 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, Manuka honey products are frequently the target of counterfeiters. Manuka Health, a global leader in Manuka 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 Manuka 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.
