Development Team Strengthened to Support Growing Demand for Multifactor Authentication and Anti-Counterfeit Solutions

NEW YORK, NY--(Marketwired - Sep 15, 2015) - VerifyMe, Inc. (OTCBB: VRME), a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, today announced that Balu Ramamurthy has joined the company, reporting directly to the Chief Technology Officer. Mr. Ramamurthy will lead the company's biometrics, optical and image processing areas and contribute substantially to mobile authentication solutions.

Prior to joining VerifyMe, Mr. Ramamurthy was a software consultant at ENT Matrix where he worked on the Financial Risk Assessment team at Goldman Sachs in New York. Earlier in his career, Mr. Ramamurthy was an Algorithms & Software Developer at Eyelock and a Software Engineer at WIPRO Technologies.

Mr. Ramamurthy has extensive programming skills, experience in developing and working in various real time image processing applications and aptitude in algorithm optimization and image processing.

Mr. Ramamurthy received a Masters of Science in Computer Science from Clemson University. He earned a Bachelor of Technology in Information Technology at SSN College of Engineering in India. While at Clemson, Mr. Ramamurthy was a Graduate Research Assistant in the Computer Science Department, where he worked in the Biometrics Pattern Recognition Lab.

"I am pleased to welcome Mr. Ramamurthy to VerifyMe. We look forward to benefitting from both his technical and programming expertise. Mr. Ramamurthy's background covers areas of technology that will immediately strengthen our team," said Paul Donfried, Chief Executive Officer at VerifyMe.

"We are in the process of building out our engineering team with programmers who have come from leading technology companies," said Sandy Fliderman, Chief Technology Officer. "Mr. Ramamurthy has deep technical knowledge and a wealth of experience in the very areas that are most critical to VerifyMe."

Mr. Ramamurthy commented: "I am excited to join VerifyMe and utilize my technical expertise in assisting the new leadership team to develop and enhance our technology platform and bring new solutions to market. Counterfeiting, identity theft and fraud are serious problems across many industries which creates a significant opportunity to add real value to our client's businesses and their consumer relationships."

About The Company

VerifyMe is a high-tech solutions company in the field of authenticating products and people. VerifyMe's physical technology authenticates products, documents and currency with a suite of proprietary security inks and pigments. The company's digital technology authenticates people by performing strong, multi-factor verification via its patented digital platform. To learn more, visit www.verifyme.com.

Forward-Looking Statements

This press release includes "forward-looking statements," which may be identified by words such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, our limited revenues generated to date, our ability to attract and retain qualified personnel, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other factors set forth described in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC on April 16, 2015. VerifyMe (formerly known as LaserLock Technologies) expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

 

CONTACT INFORMATION

Contacts:

Investors and Media:
Benjamin Burrell
Chief Operating Officer
bburrell@verifyme.com
212-994-7002 x702

Investor Relations
VerifyMe
ir@verifyme.com