VerifyMe to Present at LD Micro Main Event Conference

NEW YORK, Nov. 24, 2015 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (OTCBB:VRME), a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, today announced that it will be presenting at the 8th annual LD Micro Main Event on Thursday December 3, 2015.
 

VerifyMe Chief Executive Officer Paul Donfried will deliver the company's presentation at 3:00 pm PT on December 3, 2015. Mr. Donfried and Chief Operating Officer Ben Burrell will also be available for one-on-one meetings. To arrange a meeting with management, please contact Wade Hickok at Wade@ldmicro.com.

This year's conference takes place December 1-3, 2015 at the Luxe Sunset Bel Air Hotel in Los Angeles, and is expected to feature more than 230 companies in the small/micro-cap space and host more than 1,000 institutional investors and registered investment advisors.

For more information, please visit the conference website at www.ldmicro.com.

About LD Micro

LD Micro is an investment newsletter firm that focuses on finding undervalued companies in the micro-cap space. Since 2002, the firm has published reports on select companies throughout the year. The firm also hosts the LD Micro Invitational in June. It is a non-registered investment advisor. For more information, please contact 408-457-1042 or visit www.ldmicro.com.

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.

Contacts:

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

Investor Relations
ir@verifyme.com

VerifyMe Incorporates KeyLemon’s Advanced Biometric Technologies Into the New Version of Its ID Services Platform

KeyLemon's Applications Enhance the Accuracy and Security of VerifyMe's Multi-Factor Authentication Solutions

NEW YORK, Oct. 21, 2015 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (OTCBB:VRME), a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, announced today that it has licensed and is incorporating KeyLemon's Advanced Biometric solutions into the new version of its ID Services platform, which will be available before the end of this year. VerifyMe selected KeyLemon's solutions for their accuracy and high level of security.

"There are three very important aspects to user authentication technology. It has to be secure, it has to be accurate, and it has to be intuitive and easy to use," said Paul Donfried, Chief Executive Officer of VerifyMe. "KeyLemon's algorithms are excellent additions to our suite of patented authentication tools," continued Donfried. "Their solutions refine the biometric information collected, making facial and voice recognition more accurate, and allowing quicker user verification against biometric profiles stored in the cloud. What is more, KeyLemon's sophisticated, one-way algorithms ensure that data collected and stored holds no value to hackers."

Using a smart phone or other connected devices, VerifyMe's ID Services platform replaces passwords and PINs with an intuitive, user-friendly, multi-factor authentication process. It has the ability to authenticate individuals using facial, fingerprint, voice and swipe pattern recognition, as well as location detection and approved IP/WIFI address detection. Its proprietary, patented solutions support an unlimited number of authentication tools - including knowledge, possession, biometric factors and GPS - and is platform agnostic.

"We don't just authenticate a user's face, fingerprint or voice," commented Donfried. "Using a very simple user interface, our solution identifies that the user is a living person, not just a photo or video of the face, and it learns to identify that specific user even in a low light or noisy environment," Donfried continued.

The application employs three factors of security instead of simple passwords, providing the highest levels of confidence, security and account protection within seconds. With applications ranging from protecting current account passwords to protecting financial and identity information across a wide array of industries, VerifyMe's solutions shield consumers and businesses from identity fraud and theft.

"We are excited that VerifyMe selected our technology. The capabilities we provide add tremendous value and ease of use to both consumer and enterprise users," said Gilles Florey, Chief Executive Officer of KeyLemon. "VerifyMe focuses primarily on the enterprise market, where safety and privacy of customers and employees is of prime importance. This market can clearly benefit from 3D depth-sense cameras and efficiently combine depth, near-infrared and visible spectrum facial information and other capabilities our technology enables."

About The Companies

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.

About KeyLemon - KeyLemon S.A. offers convenient, secure and continuous biometric authentication solutions based on face and speaker recognition. KeyLemon's latest face recognition algorithms take full benefit of 3D depth sensing cameras by efficiently combining depth, near infrared and color information. Used by consumers and enterprises worldwide, KeyLemon can easily be integrated into any device, system or application to improve online transaction authentication, facilitate access to mobile apps and services, and enhance safety features in machinery such as automobiles.

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.

Contacts:

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

Investor Relations
VerifyMe
IR@verifyme.com

KeyLemon
Mr. Gilles Florey, CEO
gilles@keylemon.com

Lawrence Schafran Joins VerifyMe Board of Directors

Schafran Adds Public Company Leadership Experience, Audit and Investment Expertise

NEW YORK, NY--(Marketwired - Sep 30, 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 Lawrence G. Schafran has joined the company's Board of Directors.

"Larry's public company, audit and investment expertise adds significant value to our board as we continue to build the company after our restructuring," said Paul Donfried, VerifyMe's chief executive officer. Mr. Schafran will serve on the audit and compensation committees.

Mr. Schafran is a private investor who serves on the Board of Directors of Wright Investors' Service Holdings, Inc.; Cupcake Digital, Inc; and Glasstech, Inc. He has served as managing director of Providence Capital, Inc., an investment and advisory firm; and as a director and/or officer of COMSAT, Inc.; Capsure Holdings, Inc.; Banyan Strategic Realty Trust; Dart Group Corporation; Trak Auto Corporation; WorldSpace, Inc.; Shoppers Food Warehouse, Inc.; and The Palmieri Company, Inc. He received both a BBA and a MBA degree from the University of Wisconsin.

"I am honored to join VerifyMe's Board of Directors," said Mr. Schafran. "The new management team has moved quickly and strategically to accomplish a significant amount since the restructuring earlier this year. I believe that the company has a solid foundation for future growth and a strong portfolio of security products."

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

VerifyMe Receives Notice of Allowance for Authenticating Security Marks on Material Goods With a Smartphone App

Expands Anti-Fraud and Counterfeiting IP Portfolio

NEW YORK, NY--(Marketwired - Sep 22, 2015) - VerifyMe, Inc. (OTCBB: VRME), a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, announced today that it received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for patent application U.S. 14/184,195 titled "Characteristic Verification System."

This unique patented technology will empower brands as well as consumers themselves to verify the authenticity of products, using overt (visible) and covert (invisible) security marks on material goods, such as the packaging of medications and baby food, among others. The patented technology uses smart phones in two ways. The phone's internal "flashlight" changes the color of the visible ink identification mark on the package. In addition, the technology leverages the device's camera to detect and recognize a QR code, or similar, invisible mark which is embedded. By communicating with the brand via a special app, the consumer will be assured that the product is genuine, not fake or a cheap, potentially dangerous, knockoff.

"This patent is the most recent addition to our growing portfolio. It allows VerifyMe to integrate our physical security pigment technologies with our digital verification solutions, creating an anti-counterfeiting system by which anyone with a smartphone can authenticate material goods," said Paul Donfried, chief executive officer of VerifyMe, Inc. "We have additional patent applications pending around the world, and this favorable review validates the originality of our technologies and the value of our solutions."

VerifyMe has a broad and diverse IP portfolio. It holds patents for physical solutions including authentication solutions that can be verified by the end-user, consumer/patient with no specialized equipment, in addition to multiple levels of forensic inspection. In addition, its digital solutions include 3+ factor replacements for passwords, pins and tokens. Based on sophisticated risk scoring and adaptive authentication, the VerifyMe solutions incorporate many dimensions, including biometrics such as facial recognition, gesture, voice and fingerprint.

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

 

VerifyMe Announces Hiring of Balu Ramamurthy to Join Technology Development Team

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

VerifyMe Provides Corporate Update and Business Outlook

Update Highlights VerifyMe's Achievements Over the Past Quarter and Provides Upcoming Goals and Strategic Milestones

NEW YORK, NY--(Marketwired - Sep 9, 2015) - VerifyMe, Inc. (OTCBB: VRME), a pioneer in patented cyber, physical and biometric technology solutions that prevent identity theft, counterfeiting and fraud, today provides a corporate update and business outlook.

"Over the past few months, we have completed our restructuring and recapitalization, building our team and laying the foundation to execute on our business model. With all of these now complete, our goal is to remain a technology pioneer in the fields of anti-counterfeiting and secure authentication. We believe we are well positioned to accelerate the roll out of our technology platforms, which will be demonstrated as our commercial partners bring products to market over the coming months by incorporating our solutions," said Paul Donfried, Chief Executive Officer of VerifyMe.

Mr. Donfried continued, "Our products and technology are innovative, cost effective and easy for customers to integrate into their existing platforms. Our solutions are also secure, very difficult to compromise or counterfeit and applicable to many industry sectors. The National Institute of Standards and Technology (NIST) defines four levels of Identity Assurance, with the highest being Level 4. VerifyMe meets all the requirements of NIST Level 4 and therefore we are actively engaged with large established companies that can realize immediate economic benefit through increased revenue, reduced support costs or minimization of chargebacks. We're currently engaged with clients in the pharmaceutical, premises security, financial services, entertainment/gaming and specialized/luxury markets."

Since June of this year the company has accomplished the following:

  • Appointed new senior management, including Chief Executive, Operating and Technology Officers
  • Acquired fundamental biometric, identity and authentication technology that results in both our digital and physical solutions platforms delivering unique value and security to our customers
  • Recapitalized the company in conjunction with retiring outstanding debt and an equity private placement
  • Changed corporate name and ticker symbol to VerifyMe, Inc. and "VRME", respectively
  • Received a notice of allowance for a patent broadly covering the protection of confidential documents and systems for tracking and monitoring

"As we continue to build on our momentum, our strategic goals for the remainder of 2015 and into 2016 are the following:

  • Intellectual Property Development: We expect to continue to expand on our existing broad and diverse patent portfolio covering physical solutions for protecting material goods, products and packaging, as well as digital identity, liveness detection and authentication. We currently have several patent applications in prosecution at the United States Patent and Trademark Office and will keep investors informed of newly allowed and issued patents. 
     
  • Key Personnel: We are currently in the process of adding additional members to our team to augment and enhance our existing capabilities. We have been recruiting through the summer and look forward to updating our investors shortly. 
     
  • Board of Directors: As we grow the company, we anticipate adding board members with the specific expertise needed to help guide us. The company is currently engaged in multiple conversations with independent, experienced and successful business leaders to invite and appoint to our Board of Directors.
     
  • Listing on National Exchange: We intend to apply for listing our common stock on a national exchange. We believe that being listed on a national exchange will offer an exciting platform for our growing company as well as increase the company's exposure to institutional and international investors. 
     
  • Product Pipeline: We are finalizing the development and preparing for the release of V2 of our ID Services platform, a high availability cloud service for eliminating username/passwords and PINS. Development of our BrandGuard platform, that allows individuals to digitally authenticate physical goods that they purchase, is continuing on schedule. We're seeing significant interest as brands realize the power of establishing mobile relationships directly with their customers.
     
  • New Partnerships: We anticipate rolling out both our digital and physical products with new commercial partners in the near term. 
     

The opportunity we have is a reminder of the unfortunate rampant growth of both counterfeit identities and counterfeit goods. VerifyMe's platforms allow us to deliver solutions that make a difference, to both the brand owner and the consumer. As we observe the convergence of technology around mobile devices, we believe our combination of digital -- physical -- mobile provides the only complete solution," concluded Mr. Donfried.

Additional details on these events are available in the News & PR section of our website here: http://www.verifyme.com/news-pr/#press

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 pigments, inks and dyes. 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, our ability to list our common stock on a national exchange, if and when we apply for such listing, 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

VerifyMe Receives Notice of Allowance for Patent Covering Tracking of Secure Documents

Expands Anti-Fraud and Counterfeiting IP Portfolio

NEW YORK, NY--(Marketwired - Aug 4, 2015) - VerifyMe, Inc. (OTCBB: LLTID)*, a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, announced today that it received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for patent application U.S. 14/212,757 titled "System and Method for Providing Tangible Medium with Electromagnetic Security Marker."

The patent broadly covers the protection of confidential documents and systems for tracking and monitoring the movement of documents, packages or other printed materials or objects. This new IP expands VerifyMe's anti-fraud and counterfeiting platform.

"This patent is the most recent addition to our arsenal of weapons that enable our clients to fight crime and theft," said Paul Donfried, VerifyMe's chief executive officer. "We have additional patent applications pending around the world, and this favorable review validates the originality of our technologies and the unique value we deliver."

VerifyMe has a broad and diverse IP portfolio that includes patents covering physical solutions for protecting material goods, products and packaging, as well as patents covering digital identity, liveness detection and authentication.

"Developed in house, our IP portfolio has established VerifyMe as a leader in the convergence of physical and digital security," said Sandy Fliderman, chief technology officer. "Our ability to integrate mobile devices and their capabilities into our platform continues to enhance our competitive advantage."

VerifyMe's patents for physical solutions include authentication solutions that can be verified by the end-user, consumer/patient with no specialized equipment, in addition to multiple levels of forensic inspection.

VerifyMe's patents for digital solutions include 3+ factor replacements for passwords, pins and tokens. Based on sophisticated risk scoring and adaptive authentication, the VerifyMe solutions incorporate many dimensions, including biometrics such as facial recognition, gesture, voice and fingerprint.

* VerifyMe (formerly LaserLock Technologies, Inc.: LLTI) is currently trading with the stock symbol LLTID as a result of a reverse stock split, effective July 23, 2015. The company anticipates trading under the new symbol, "VRME," on or around August 20, 2015. It is expected that VRME will be VerifyMe's permanent stock symbol.

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

LASERLOCK TECHNOLOGIES INC. ANNOUNCES COMPANY NAME CHANGE TO VERIFYME, INC. AND COMPLETION OF REVERSE STOCK SPLIT

LaserLock Technologies Inc. Announces Company Name Change to VerifyMe, Inc. and Completion of Reverse Stock Split

VerifyMe Targets Consumer and Brand Protection Following Restructuring

VerifyMe Launches New Website www.verifyme.com

New York, N.Y. – July 23, 2015 – VerifyMe, Inc. (OTCBB:LLTID), a pioneer in combining physical, cyber and biometric security solutions to prevent identity theft, counterfeiting and fraud, today announced that its company name change and 85 for 1 reverse stock split have been completed.

“VerifyMe is the result of a restructuring of LaserLock Technologies reaching an agreement with its digital licensing partner and a re-capitalization of the company with $1.5 million in new investment,” said Paul Donfried, President and Chief Executive Officer of VerifyMe. “Our company offers a suite of patented technologies that verify the authenticity and provenance of any material good or the identity of any person. This milestone positions our company to deliver leading identity and authentication solutions in both cyber and physical security,” Mr. Donfried continued.

VerifyMe will continue to enhance its physical solutions, which are based on proprietary security pigments and inks.  The company is focused on expanding its relationships with existing customers and establishing new partnerships.

“We anticipate that the restructuring will prepare VerifyMe for a future uplisting and attract additional investors,” said Benjamin Burrell, Chief Operating Officer of VerifyMe.

“As concerns and threats of identity theft and counterfeiting rise, we see increasing demand for innovative solutions.   We believe that our technologies and company are well positioned to improve consumer and brand protection,” Mr. Burrell continued.

Interwest Transfer Company, Inc., is acting as exchange agent for the reverse stock split. Additional information can be found in the definitive proxy statement posted on the Company’s website www.verifyme.com or by visitingwww.sec.gov.  Interwest will provide information for exchanging pre-split stock certificates. Shares in brokerage accounts will have their shares automatically adjusted.

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 a 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.

Contacts:

Investors and Media:

Benjamin Burrell

Chief Operating Officer

bburrell@verifyme.com

212-994-7002 x702

INVESTOR RELATIONS

VerifyMe

IR@verifyme.com

LASERLOCK TECHNOLOGIES NAMES CHIEF OPERATING OFFICER

J.P. Morgan’s Benjamin Burrell Joins Identity Authentication Pioneer

New York City, N.Y. – July 15, 2015 – LaserLock Technologies, Inc. (OTCBB: LLTI), a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, announced today that Benjamin Burrell has joined the company as chief operating officer. Mr. Burrell’s appointment is effective immediately.

Mr. Burrell brings over a decade of experience in the implementation of technology solutions in the financial services industry. He joins LaserLock from J.P. Morgan where he worked for nearly 14 years, most recently as vice president, Americas, head of middle office for agency clearing, collateral engagement and execution. He oversaw the teams responsible for the service delivery of technology-based financial services products to institutional clients. Mr. Burrell began his career with Barclays Bank Plc in London and has also worked as director of business development for boutique investment bank New Vernon Financial LLC.

“Ben’s deep experience with technology products and serving clients in the banking industry, which is driven by secure technology solutions, will help us grow our business,” said Paul Donfried, CEO, LaserLock Technologies.

“Security breaches have grown to epidemic proportions. LaserLock’s patented technology is perfectly positioned to take a leading role in what must be a worldwide drive to significantly improve security,” said Mr Burrell. “LaserLock offers the right products at the right time. I look forward to working with Paul to drive the company’s strategy.”

About the Company

LaserLock is a high-tech solutions company in the field of authenticating products and people. It authenticates products, documents and currency with a suite of proprietary security inks and people by performing strong, multi-factor validation via a patented digital platform, called VerifyMe. To learn more, visit www.laserlocktech.com or 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.  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.

Contacts:

Investors and Media:

Paul Donfried

Chief Executive Officer

pdonfried@laserlocktech.com

202-400-3700 x120

INVESTOR RELATIONS

LaserLock Technologies 

IR@laserlocktech.com

LASERLOCK TECHNOLOGIES COMPLETES RESTRUCTURING

New Senior Management Team Joins Company

Fundamental Biometric, Identity and Authentication Technology Acquired

Debt Retired, $1,500,000 Raised in Equity Private Placement

NEW YORK – June 18, 2015 – LaserLock Technologies, Inc. (OTCBB: LLTI), a pioneer in protecting companies, industries, governments and individuals from the rising threat of identity theft, counterfeiting and fraud, announced today that it has completed a recapitalization in which the company finalized the appointment of a new senior management team, acquired fundamental technology, completed a capital raise, retired outstanding debt, and announced it is in the process of changing the company's name to VerifyMe and ticker symbol to VRFY.

NEW SENIOR MANAGEMENT TEAM JOINS COMPANY

On May 5, 2015, Paul Donfried was named Chief Executive Officer of the company.  

  • Mr. Donfried is a biometrics and authentication expert.  Prior to joining Laserlock, he served as Chief Technology Officer of Identity and Access Management for Verizon where he was responsible for the strategy, engineering and marketing of Verizon’s portfolio of enterprise identity services.  Prior to Verizon, Paul served as a Vice President of Identity & Access Management Solutions at Science Applications International Corp. (SAIC) after holding various roles at Apple Inc., General Electric Company and The Bank of Montreal.

On June 12, 2015, Sandy Fliderman joined the company as Chief Technology Officer and Jennica Hawkins joined the company as Vice President of Sales.

 

  • Mr. Fliderman has over twenty years of experience in technology, having started his career in banking technology at J.P. Morgan.  Most recently, Mr. Fliderman served as the Chief Information Officer at VEEDIMS, an Internet of Things platform provider.  Prior to that Mr. Fliderman was the co-founder and CTO of Zaah.com where he created VerifyMe’s patented technology.
     
  • Ms. Hawkins brings sales and communication experience, most recently having developed a channel strategy and established the initial partners for LaserLock in the Northeast region of the United States.  Ms. Hawkins is a successful entrepreneur, with a strong background in relationship management, marketing and business development. She has taught Business Communications and Leadership through the Harvard Extension School.

“We are pleased to announce the restructuring. Our digital and physical authentication solutions are simple to implement, have never been compromised and provide clients with both low cost and flexibility,” says Paul Donfried, Chief Executive Officer. “Our new management team is focused on creating shareholder value through fulfillment of existing revenue generating customers and aggressively closing deals with our formidable pipeline.”

FUNDAMENTAL BIOMETRIC, IDENTITY AND AUTHENTICATION TECHNOLOGY ACQUIRED

LaserLock has reached an agreement to acquire the patent portfolio and underlying technology behind its flagship cyber authentication product, VerifyMe. Prior to closing the acquisition, VerifyMe had licensed the technology to LaserLock.  The portfolio includes patents for authentication mechanisms including biometrics, live-ness detection, duress detection, privacy protection and risk scoring processes.

“As the world moves beyond password and 2-factor authentication, our digital platform delivers military grade authentication (NIST),” said Sandy Fliderman, Chief Technology Officer. “It offers the most secure alternative for authenticating human beings.”

RECAPITALIZATION; EQUITY PRIVATE PLACEMENT

Prior to completing the recapitalization, LaserLock had substantial debt, accounts payable and license payment obligations. The company has reached agreements with certain holders of its previously outstanding notes, as well as the licensor of the cyber authentication technology, in which the outstanding debts and license payments were converted into shares of common stock.

The company emerges from this transaction with virtually no debt and owning the VerifyMe technology outright, with no future royalty or license payments owed.

Simultaneously with the recapitalization, LaserLock raised $1,500,000 in a series of private placement transactions in exchange for shares of common stock. Warrants to purchase shares of common stock were not issued as a part of this transaction.

REVERSE SPLIT AND NAME CHANGE

Prior to the recapitalization, the Board of Directors and the holders of approximately 52% of the company's total voting capital stock approved an 85-for-1 reverse stock split of the company's issued and outstanding capital stock, and an amendment to the company's organizational documents to change the company's corporate name to "VerifyMe, Inc."

When the reverse stock split becomes effective, every eighty-five (85) shares of common stock outstanding will automatically combine into one (1) new share of common stock with no change in par value per share. This will reduce the total outstanding shares of common and preferred stock to approximately 7.11 million.

The reverse stock split intends to consolidate and simplify the company's capital structure, increase its per share market price, making the company's stock available to a broader group of investors and enabling the company to seek listing of its common stock on a senior exchange in the future.

The name change is part of a re-branding initiative to better align the company's name with its future strategy and near-term product roadmap.

The company anticipates the reverse stock split and name change will be effective on or about July 15, 2015. The company has reserved the ticker symbol “VRFY” with the OTC Bulletin Board and expects to start trading under the new symbol in July.

Until such time, the company’s common stock will continue to trade on the OTCBB under the symbol "LLTI."

About the Company

LaserLock is a high tech solutions company in the field of authenticating products and people. The company authenticates products, documents and currency with a suite of proprietary security inks and authenticates people by performing strong, multi factor validation via a patented digital platform called VerifyMe. To learn more, visitwww.laserlocktech.com or 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.  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.

Contacts:

Investors and Media:

Paul Donfried

Chief Executive Officer

pdonfried@laserlocktech.com

202-400-3700 x120

INVESTOR RELATIONS

LaserLock Technologies 

IR@laserlocktech.com

LASERLOCK TECHNOLOGIES SIGNS AGREEMENT WITH MAJOR FINANCIAL ADVISORY COMPANY

WASHINGTON, DC--(Marketwired - Sep 8, 2014) - LaserLock Technologies, Inc. (OTCBB: LLTI), a leader in protecting companies, industries, governments and individuals from the rising threat of counterfeiting and fraud, announced today that it has signed an agreement to license its VerifyMe™ Identity Services platform to a major financial services advisory firm that consolidates hundreds of billions of dollars in assets for its 100,000 investment banking clients.

This financial institution, which actively updates holdings from thousands of institutions nightly, will use VerifyMe™ to protect against identity fraud when logging onto its system. The system is indispensible to firms in three countries and in all fifty states. LaserLock will generate revenues based on a user fee/annum.

VerifyMe™ Identity Services is a multi-factor authentication solution that conforms to the highest security standards set out by the US National Institute of Standards and Technology (NIST) -- Level 4. The platform utilizes three human authentication factors to verify something you are, generally a biometric such as facial recognition; something you have, generally possession of a smartphone or other connected device; and something you know, for which VerifyMe™ utilizes a high-integrity gesture swipe. The system also has the ability to geo-tag users in applications for which geo-location information is necessary.

"Identity theft is no longer just the tagline of television and movie scripts. People can barely open up a newspaper or turn on the television without hearing about another identity breach. LaserLock's technologies were created to put an end to what has unfortunately become a daily occurrence," said Neil Alpert, chief executive officer. "We are very proud of this milestone in the financial services industry. Now is the time to replace the broken system of passwords and VerifyMe™ is the ideal technology to do so."

"LaserLock's robust VerifyMe™ platform was developed to protect the millions of Americans who every year fall prey to identity fraud and password breaches online. By using VerifyMe™ people no longer have to worry that their passwords are too simple and will be hacked because VerifyMe™ replaces passwords all together," said Paul Klapper, director at LaserLock Technologies. 

As a matter of confidentiality, LaserLock Technologies does not currently release the names of its clients.

 

ABOUT LASERLOCK TECHNOLOGIES, INC.

LaserLock is a high-tech solutions company in the field of authenticating people and products. It offers state-of-the-art solutions to combat identity fraud and counterfeiting utilizing multi-factor authentication and a suite of security pigments for governments, health care providers, the gaming industry, the financial services industry and high-end retailers.

To learn more, visit us at www.laserlocktech.comwww.verifyme.com or follow us on Twitter @LaserLockTech.

LASERLOCK TECHNOLOGIES SIGNS 10 YEAR, $7 MILLION AGREEMENT

WASHINGTON, DC-- LaserLock Technologies, Inc. (OTCQB: LLTI), a company involved in authenticating people and products announced today that it has signed a decade-long, $7 million contract with a Mexican gaming company to license its VerifyMe™ Identity Services. The technology will be used to authenticate players in online casinos run by the gaming company and to meet the requirements of recently passed anti-money laundering legislation in Mexico.

VerifyMe™ Identity Services is a multi-factor authentication solution that replaces the broken system of passwords and PINs for human authentication, utilizing three authentication factors to achieve this. It verifies something you are, generally a biometric such as facial recognition; something you have, generally possession of a smartphone or other connected device; and something you know, for which VerifyMe™ utilizes a high-integrity gesture swipe. It conforms to the highest security standards set out by the US National Institute of Standards and Technology, Level 4. The system also has the ability to geo-tag users in applications for which geo-location information is necessary. The entire process takes about five seconds to complete; yet the system is nearly impossible to hack.

"This is a new milestone in our fight to deliver viable, strong authentication technology to the marketplace and speaks volumes to the underlying technology that makes up VerifyMe™," said Neil S. Alpert, Chief Executive Officer. "The current system, in which passwords are so easily hacked and online and financial security so vulnerable, needs to be replaced and VerifyMe™ is the ideal technology to do it."

Additionally, "the deal signifies a bright future for LaserLock not only for the strength of our technology but the future financial success of the company as well," Alpert added.

As a matter of confidentiality, LaserLock Technologies does not currently release the names of its clients.

LaserLock Technologies Signs 10 Year, $7 Million Agreement

VERIFYME APPROVED BY MEXICAN REGULATORS FOR ONLINE GAMING AND ANTI-MONEY LAUNDERING

Friday, April 11, 2014

WASHINGTON, DC--(Marketwired - Apr 10, 2014) - LaserLock Technologies, Inc. (OTCBB: LLTI), a company involved in authenticating people and products announced today that its identity authentication technology, VerifyMe™, has been approved by the Mexican Government for both online gaming and to fulfill the requirements of a new reform passed last year to curb money laundering in the country. The approval is in conjunction with a project in the gaming industry.

"This is a new milestone in our fight to deliver viable, strong authentication technology to the marketplace and speaks volumes to the underlying technology that makes up VerifyMe™," said Neil S. Alpert, Chief Executive Officer. "The current system, in which passwords are so easily hacked and online and financial security so vulnerable, needs to be replaced and VerifyMe™ is the ideal technology to do it."

VerifyMe™ is a multi-factor authentication solution that replaces the broken system of passwords and PINs for user authentication. It utilizes three independent authentication factors instead of just one: it verifies something you are, generally a biometric such as facial recognition, something you have, generally possession of a smartphone, tablet or other connected device and something you know, for which VerifyMe™ utilizes a high-integrity color gesture swipe. It conforms to the highest security standards set out by the US National Institute of Standards and Technology, Level 4. The system also has the ability to geo-tag users in applications for which geo-location information is necessary. The entire process takes about five seconds to complete; yet the system is nearly impossible to hack.

"Historically, high levels of identity assurance, like NIST Level 4, have been expensive to implement and cumbersome to use -- what's really unique about VerifyMe™ is that it eliminates both of those issues," said Paul Donfried, Chief Technology Officer. "VerifyMe™ is much easier to use then complex passwords and organizations can actually save money by reducing their support and risk management costs. Increasing the privacy and identity protection they provide their customers becomes a powerful additional benefit."

VerifyMe Approved by Mexican Regulators for Online Gaming and Anti-Money Laundering

LASERLOCK TECHNOLOGIES, DUOCHROME+ CHOSEN TO PROTECT NATIONAL ID CARDS IN THE DOMINICAN REPUBLIC

Wednesday, March 26, 2014

WASHINGTON, DC---  LaserLock Technologies, Inc. (OTCBB: LLTI), a company involved in authenticating products and people, has been selected to provide DuoChrome+, a unique, exclusive pigment offered through ABNote Corporation to the new national ID card of the Dominican Republic. The sale of the color-changing pigment is a result of an exclusive relationship between LaserLock and ABnote to market DuoChrome+™.

DuoChrome+™ is a unique pigment offered by LaserLock through ABnote for the protection of plastic cards and secure documents, including national ID cards, passports, bank and credit cards and government documents. It utilizes green technology to change color instantly when moved between fluorescent and other kinds of light sources. It contains multiple, embedded covert features as well.

"We are thrilled to be expanding our security pigments into new markets," said Neil Alpert, Chief Executive Officer. "We look forward to continue our strong partnership with ABnote and we are confident that LaserLock's pigments are going to continue to become the security feature of choice for governments around the world."

LaserLock offers a variety of security pigments containing both overt and covert security features, providing for multi-layered security. The pigments are ideal anti-counterfeiting tools for government documents, such as national ID cards and passports, as well as pharmaceuticals, luxury retail goods, apparel and electronics. The company entered into a strategic partnership with ABnote in April 2013.

"We strongly value our relationship with LaserLock," said Keith Goldstein, CEO of ABnote North America. "A key part of our strategic direction is for us to have innovative partners offering unique technology so we can continually offer increased value and security to our customers."

ABOUT LASERLOCK TECHNOLOGIES, INC.

LaserLock is a high-tech solutions company in the field of authenticating products and people. It offers state of the art solutions to combat counterfeiting and identity fraud for governments, health care providers, the gaming industry, the financial services industry and high-end retailers.

To learn more, visit us at www.laserlocktech.com or follow us on Twitter @LaserLockTech.

ABOUT AMERICAN BANKNOTE CORPORATION

Founded in 1795 by American patriot Paul Revere, ABnote has locations in the Americas, Europe and Australasia, and is a leading and trusted global provider of secure document solutions. Its primary products include EMV and mag stripe financial cards (such as debit and credit cards), identification documents (such as passports, national identity cards and driver's licenses), commercial plastic cards (gift, loyalty and membership), and secure documents (savings bonds, stock certificates, vital records, and checks). The company is also a leader in innovative services and solutions, such as its NFC mobile payment platform, multiple TSMs throughout the world, and personalization, secure warehousing, distribution and fulfillment capabilities worldwide.

LaserLock Technologies, DuoChrome+ Chosen to Protect National ID Cards in the Dominican Republic

LASERLOCK TECHNOLOGIES FILES FOR PATENT ENABLING MOBILE PHONES WITH ANTI-COUNTERFEITING AND TRACK & TRACE TECHNOLOGY

Monday, February 24, 2014

WASHINGTON, DC--(Marketwired - Feb 24, 2014) - LaserLock Technologies, Inc. (OTCQB: LLTI), a global leader in authenticating products and people today announced it has filed a full patent application for a Characteristic Verification System (CVS) enabling smart phones to simultaneously identify counterfeit products and protect against identity fraud. The company had previously filed for a provisional patent one year to the day on February 20, 2013. The CVS is a groundbreaking technology that sets a new standard in brand protection by combining LaserLock's proven product authentication expertise with its simple and secure VerifyMe™ human authentication technology. 

Acquired by LaserLock Technologies in December 2012, VerifyMe™ is a biometric verification system that replaces antiquated systems of passwords and PINS and utilized multiple factors of authentication to quickly and securely authenticate human beings. Within the CVS, it can also uniquely serialize individual products allowing complete verification of provenance, pedigree and movement. The new solution benefits from the near ubiquitous penetration of smart phones with integrated cameras and artificial light sources to create advanced inspection tools that can be made available at no additional cost.

"We are thrilled to be converting CVS to full patent status, as the technology is uniquely suited to provide more secure and more efficient authentication technology along supply chains," said Neil Alpert, CEO of LaserLock Technologies. "Since filing for the provisional patent last year, the vulnerabilities in supply chains across many industries are becoming more apparent every day."

The Characteristic Verification System utilizes technologies present in virtually all smartphones to capture both overt and covert anti-counterfeiting measures on any given product, as well as to verify the identity of the person performing that action. Its applications range from protecting the most complex and sensitive supply chains to protecting the integrity of high-value retail goods. It allows companies and governments to track products along their supply chain and verify the identity of all who come in contact with them. When applied to high-value retail goods such as consumer electronics and luxury fashion items, the system can provide both consumers with the peace of mind that they are purchasing a genuine products and companies with valuable data on their customers and their purchasing habits.

For more information on LaserLock Technologies' full offering of products, please visit www.laserlocktech.com.

For more information on VerifyMe™, please visit www.verifyme.com.

ABOUT LASERLOCK TECHNOLOGIES, INC.

LaserLock is a high-tech solutions company in the field of authenticating products and people. It offers state of the art solutions to combat counterfeiting and identity fraud for governments, health care providers, the gaming industry, the financial services industry and high-end retailers.

To learn more, visit us at www.laserlocktech.com or follow us on Twitter @LaserLockTech.

LaserLock Technologies Files for Patent Enabling Mobile Phones With Anti-Counterfeiting and Track & Trace Technology

LASERLOCK TECHNOLOGIES HOLDS 2013 ANNUAL GENERAL MEETING

Tuesday, December 10, 2013

WASHINGTON, DC--(Dec 10, 2013) - LaserLock Technologies, Inc. (OTCBB: LLTI), a company involved in authenticating products and people, held its 2013 Annual General Meeting on December 9th in Washington, DC. Shareholders expressed strong support for the Company's directors and all resolutions placed before them. Of 243,500,886 shares entitled to vote, 174,733,104 shares were voted, representing 69 percent of total shares.

The shareholders approved all resolutions placed before them. Michael R. Sonnenreich was reelected as Chairman of the Board. Additionally, Claudio R. Ballard, Sec. Michael Chertoff, Constance B. Harriman, General Peter Pace (USMC, Ret.), Jonathan R. Weinberger, Amb. Paul Wolfowitz and Neil Alpert, the company's Chief Executive Officer were all reelected. All directors on the ballot were elected to the Board. Morrison Cogen was retained as the Company's external auditors. Additionally, the shareholders approved the 2013 Omnibus Equity Compensation Plan, an advisory resolution regarding executive officer compensation and an advisory resolution requiring a future compensation plan vote after one year.

Immediately following the Annual General Meeting, the Board of Directors held its fourth quarter meeting, at which Paul F. Klapper of San Francisco was chosen to fill an empty seat on the Board of Directors.

"We are pleased to welcome Paul Klapper to the Board of Directors," said Sonnenreich. "His wealth of business experience in a large variety of sectors will assist the Company's growth in 2014 and beyond."

ABOUT LASERLOCK TECHNOLOGIES, INC.

LaserLock is a high-tech solutions company in the field of authenticating products and people. It offers state of the art solutions to combat counterfeiting and identity fraud for governments, health care providers, the gaming industry, the financial services industry and high-end retailers.

LaserLock Technologies Holds 2013 Annual General Meeting

STRENGTHENING YOUR SUPPLY CHAIN TO FIGHT COUNTERFEITING

Friday, December 6, 2013

6-Dec-2013

Over the last 35 years, I have witnessed firsthand many drastic changes in the manufacturing industry, but nothing has ever compared to the entrance of counterfeiting. However, the criminal underground should not be exclusively faulted, because the manufacturing industry has unwittingly but directly contributed to the explosive growth of the counterfeit and the gray market (a system of trade that’s unauthorized, unofficial and frowned upon, but not illegal).

Historically, the growth of the global counterfeiting industry has been attributed to seven driving forces, including:
 

  • A slumping economy
  • Low-cost, advanced technology
  • Trade globalization
  • Consumer complicity
  • Channel and market expansion
  • Powerful global brands
  • Weak international regulations and enforcement

The explosive growth in counterfeiting is mainly attributed to the digital era, as the Internet turned counterfeiting into a low-risk market by affording counterfeiters a nearly unlimited global market, low-cost communications and potential anonymity. Additionally, the general practice of information sharing allows counterfeiters to readily access proprietary information and ultimately capitalize on the demand for high-end brands.

Assess your vulnerabilities

Given the fragile nature of a manufacturer’s most valuable equity, seasoned supply chain leaders shouldn’t be surprised by the emergence of brand counterfeiting. As a whole, the manufacturing industry’s efforts to protect intellectual property (IP) have been ineffective thus far. Even the most highly regarded global organizations have shared their standard operating procedures (SOPs) with external parties, trained them on quality manufacturing and even transferred tooling and printing plates. To truly mitigate the risks of counterfeiting, manufacturers must objectively assess the effectiveness of their existing efforts by considering the following:

  • Do we conduct due diligence in regards to contractor and employee background checks, as well as facility security, inventory accountability and destruction of unsalable materials?
  • Do we regularly audit every external facility that participates in our supply chain?
  • Do we ensure all of our retired tangible assets are properly destroyed and inaccessible to counterfeiters?
  • Do our existing processes, procedures and knowledge enable us to trust with verification?

Companies that are unable or unwilling to address each component of this assessment are vulnerable to and likely enabling the counterfeit production of its brands.

Leveling the playing field

Though counterfeiters are reliant on a manufacturing source, they have the advantage of mimicking a legitimate brand. Fortunately, an arsenal of risk mitigating practices and countermeasures are available today and highly recommended, especially for companies in high-risk countries like China, Brazil, India or Paraguay.

Despite the available solutions, the industry will continue to struggle with counterfeiting until it properly leverages the knowledge and unique perspectives of its supply chain counterparts. Incorporating these perspectives equips companies with the ability to comply with stricter supply regulations, realize the benefits of anti-counterfeit (ACF) technologies and utilize a layered approach to secure their brands.

Diversifying and combining all of these, as well as updating tactics periodically, can drastically reduce vulnerability. However, the lack of a single entity or legislation that provides end-to-end supply chain security has led to technology experts being tapped for help with brand protection. Likewise, manufacturers are returning the favor by providing technologists with inside knowledge of the best methods for installing and integrating authentication solutions into existing SOPs.

Any expert can present a case in support of adopting ACF technology and brand protection solutions. The problem lies with manufacturers who are convinced that high supply chain visibility is detrimental to success. Likewise, traders and distributors are reluctant to share transaction records, fearing it diminishes their value as intermediaries and may result in lost business. To date, many parties in the supply chain still resist collaboration despite the harmful - or even fatal - consequences that a diluted brand can pose to the industry, supply chain, retailers and consumers.

Manufacturing executives who are hesitant to invest in fighting counterfeiting can gain confidence by adhering to these guiding principles:

Embrace the counterfeiting threat. Manufacturing leaders must accept responsibility by holding themselves accountable for supply integrity and demonstrating an awareness of the growing threat to their business, supply chain and consumer health and safety. To accomplish this, stakeholders can publicly campaign for the implementation of a zero-tolerance policy for breaches by employees, suppliers and third-party providers.

Protect IP and operational practices. Prudent operational managers and executives should focus on protecting IP and other proprietary information by increasing visibility and control of production materials throughout the supply network. Best practices for protection include:

  • Instate mandatory ACF awareness training for all employees and contractors;
  • Monitor supply and demand trends across trade channels for aberrations that may indicate the presence of fake goods;
  • Respond aggressively to all incidents of fake goods;
  • Revise third-party agreements to ensure that any transactions outside of your authorized network are explicitly forbidden;
  • Authenticate returned goods before restocking and trace suspicious goods back to their sources;
  • Update disposal procedures for unsalable products and retired equipment to prevent access by counterfeiters;
  • Redesign facility and freight processes to ensure full asset protection; and
  • Continuously purchase and authenticate your finished goods in the open market.

Anti-counterfeit technology

There are several options available for companies in need of ACF solutions. Before investing, companies can determine which ACF solution is the best fit by evaluating its supply chain’s projected risk based on three components: the brand profile, active trade channels and target markets. Unfortunately, brands in highest demand are at greater risk due to increased global counterfeit production. ACF technologies, particularly those capable of full operational integration and downstream authentication, fall into three categories:

  • Sensory authentication: Overt and semi-covert packaging markings, such as holograms, color-changing inks and other sensitive materials;
  • Digital authentication: Forensic markings, barcodes and taggants that authenticate via package or product scan; and
  • Track & trace systems: Custom-built scanners or mobile applications that use unique identifiers to track product movement and/or retrace the chain of custody through the supply chain.

These solutions have strengths and limitations. For example, hologram authentication is relatively inexpensive, easily recognized and nearly effortless to implement by the commercial sector, but it’s also highly vulnerable to replication by counterfeiters. Digital authentication adds a layer of sophistication to the technology, but its process remains contingent on the use of a corresponding interrogating device.

Generally speaking, covert markings are more expensive to implement than its visible counterparts, and track and trace systems require the largest investment due to its multi-layer approach to security monitoring. Industries yielding high-risk goods, such as pharmaceuticals often prefer track and trace, and despite the financial drawbacks, legislators are increasingly mandating its adoption to better control the flow of goods.

Leave it to the experts

Before exploring the endless array of brand protection options and technology providers, it’s important to consult a brand specialist who can provide an objective risk assessment and help with the decision-making process. Specialists can advise on equipment specifications, such as vision systems and security materials, and their experience helps companies avoid project delays and unforeseen costs. In developing a comprehensive brand protection program, consultants can provide recommendations for the best practices, market monitoring tools and investigative support that will align with your overall strategic goals.

As criminals continue to profit off of the double-digit growth rate of counterfeit production, supply chain leaders must invest in aggressive brand protection initiatives, from auditing existing SOPs to revamping security and distribution practices and adopting ACF technology solutions.  Such a commitment is mandated by the threats to consumer health and safety, as well as the potential for brand dilution.

Most importantly, is understanding that no single company, technology, practice or program will mitigate these risks alone. The most viable solution for the future of manufacturing relies on multi-lateral cooperation on all fronts, from legislators and regulators to manufacturers, distributors and retailers—even consumers have a role to play. Gaining a competitive edge is not an option when consumer safety is on the line, so despite any initial misgivings about collaborating, the industry must ultimately find success together or not at all. 

This is the second article of a three-part series, co-authored by Neil Alpert, chief executive, and Ron Guido, chief marketing officer for LaserLock Technologies.

The first article - Exploiting Your Supply Chain: Confessions of a Counterfeiter - appeared on SecuringIndustry.com on October 20, 2013.

 

Strengthening Your Supply Chain to Fight Counterfeiting

LASERLOCK TECHNOLOGIES ANNOUNCES HIRING OF NEW CHIEF FINANCIAL OFFICER

Monday, November 25, 2013

WASHINGTON, DC--(Nov 25, 2013) - LaserLock Technologies, Inc. (OTCBB: LLTI), a company involved in authenticating products and people, today announced it has hired Ed Weisberger as its new Chief Financial Officer. He begins in his new position on December 2, 2013.

"We are thrilled to welcome Ed to the LaserLock team," said Neil Alpert, Chief Executive Officer. "His wide breadth of financial and accounting experience is particularly well suited to the current and future needs of our Company as we look forward to strong growth in 2014."

Weisberger has vast experience as a Certified Public Accountant with over twenty years of management experience. His past work includes time in senior positions at Igene Biotechnology, a public biotech company, and Deloitte and Touche, among many others. He has significant experience in financial modeling, strategic planning, financial forecasting, budgeting and SEC compliance.

"I am excited to bring my skills and experience to LaserLock, where I see a company that is quickly on the rise," said Weisberger. "LaserLock is solving some of the world's most pressing counterfeiting and identity fraud problems. I am excited to be a part of that and ensure that the Company is in a strong financial position as it confronts these challenges and embraces the opportunities before it."

 

ABOUT LASERLOCK TECHNOLOGIES, INC.

LaserLock is a high-tech solutions company in the field of authenticating products and people. It offers state of the art solutions to combat counterfeiting and identity fraud for governments, health care providers, the gaming industry, the financial services industry and high-end retailers.

 

To learn more, visit us at www.laserlocktech.com or follow us on Twitter @LaserLockTech.

LASERLOCK TECHNOLOGIES ANNOUNCES HIRING OF NEW CHIEF FINANCIAL OFFICER

Monday, November 25, 2013

WASHINGTON, DC--(Marketwired - Nov 25, 2013) - LaserLock Technologies, Inc. (OTCBB: LLTI), a company involved in authenticating products and people, today announced it has hired Ed Weisberger as its new Chief Financial Officer. He begins in his new position on December 2, 2013.

"We are thrilled to welcome Ed to the LaserLock team," said Neil Alpert, Chief Executive Officer. "His wide breadth of financial and accounting experience is particularly well suited to the current and future needs of our Company as we look forward to strong growth in 2014."

Weisberger has vast experience as a Certified Public Accountant with over twenty years of management experience. His past work includes time in senior positions at Igene Biotechnology, a public biotech company, and Deloitte and Touche, among many others. He has significant experience in financial modeling, strategic planning, financial forecasting, budgeting and SEC compliance.

"I am excited to bring my skills and experience to LaserLock, where I see a company that is quickly on the rise," said Weisberger. "LaserLock is solving some of the world's most pressing counterfeiting and identity fraud problems. I am excited to be a part of that and ensure that the Company is in a strong financial position as it confronts these challenges and embraces the opportunities before it."

LaserLock Technologies Announces Hiring of New Chief Financial Officer