Wednesday, February 20, 2013
PHILADELPHIA, Pa., February 20, 2013 - LaserLock Technologies, Inc.
(OTCBB:LLTI), a global leader in providing state-of-the-art authentication solutions to governments, pharmaceuticals, high-end retailers, and casinos announced it has filed a provisional patent application for a Characteristic Verification System (CVS) enabling smart phones to simultaneously identify counterfeit products and protect against identity fraud. The CVS is a groundbreaking technology that sets a new standard in brand protection by combining LaserLock’s proven product authentication expertise with its recently acquired VerifyMe™ human authentication technology.
Acquired by LaserLock Technologies in December 2012, VerifyMe™ is a biometric verification system that uses a smartphone platform and a variety of methods to quickly and accurately prove the identity of any human being. 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.
“LaserLock’s new CVS provisional patent application is uniquely well-suited to take advantage of the increasing demand for more effective, more economical and more efficient authentication technology along supply chains,” said Neil Alpert, President of LaserLock Technologies. “This provisional patent application is a potential gamechanger for our company and our industry.”
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 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.
“As more industries demand both human and product authentication simultaneously, LaserLock is positioned to assume a leadership role in this arena,” said Michael Sonnenreich, Chairman of LaserLock Technologies’ Board of Directors. “Just last week, the Institute of Medicine recommended that the United States Congress authorize and fund a mandatory track-and-trace program in the pharmaceutical industry that our technology is already designed to achieve.”
Additionally, LaserLock will be releasing VerifyMe™ applications for Android, BlackBerry, iOS (Apple) and Windows mobile devices including phones and tablets.
ABOUT LASERLOCK TECHNOLOGIES, INC.
LaserLock Technologies, Inc. based in Bala Cynwyd, PA is publicly traded on the OTC Market under the ticker symbol “LLTI”. The Company markets security technology to protect pharmaceuticals, high-end retail goods, the casino industry, documents and branded products from counterfeiting. To learn more, visit us at www.laserlocktech.com or follow us on Twitter @LaserLockTech.