VerifyMe, Inc. Completes Acquisition
Ticker: VRME · Form: 8-K · Filed: Dec 12, 2024 · CIK: 1104038
| Field | Detail |
|---|---|
| Company | Verifyme, Inc. (VRME) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, corporate-action
Related Tickers: VRME
TL;DR
VerifyMe just closed a deal, watch this space.
AI Summary
VerifyMe, Inc. announced on December 8, 2024, the completion of an acquisition. The company, formerly known as LaserLock Technologies Inc., is based in Lake Mary, Florida, and operates in computer integrated systems design.
Why It Matters
This filing indicates a significant corporate action, potentially impacting VerifyMe's business operations, market position, and future financial performance.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, financing, and market reception, which could impact the company's performance.
Key Numbers
- 001-39332 — SEC File Number (Identifies the company's filing with the SEC.)
- 23-3023677 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- VerifyMe, Inc. (company) — Registrant
- LaserLock Technologies Inc. (company) — Former Company Name
- December 8, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 801 International Parkway, Fifth Floor, Lake Mary, Florida 32746 (address) — Business and Mail Address
FAQ
What specific assets or companies did VerifyMe, Inc. acquire?
The filing states the completion of an acquisition but does not specify the target or assets acquired.
What was the financial impact of this acquisition on VerifyMe, Inc.?
The filing does not provide details on the financial terms or impact of the acquisition.
When did the acquisition officially close?
The earliest event reported in this filing is December 8, 2024, indicating the acquisition completion date.
Has VerifyMe, Inc. provided any pro forma financial information related to the acquisition?
This current report (8-K) does not include pro forma financial information; such details might be in subsequent filings.
What is the business description for VerifyMe, Inc.?
VerifyMe, Inc. is classified under SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373].
Filing Stats: 607 words · 2 min read · ~2 pages · Grade level 12.9 · Accepted 2024-12-12 17:00:24
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share VRME The Nasdaq Capital M
- $1 — cash consideration of approximately NZD $1. Through his purchase, the Buyer assume
Filing Documents
- p12122468k.htm (8-K) — 29KB
- ex99_1.htm (EX-99.1) — 107KB
- 0001214659-24-020448.txt ( ) — 358KB
- vrme-20241208.xsd (EX-101.SCH) — 4KB
- vrme-20241208_def.xml (EX-101.DEF) — 26KB
- vrme-20241208_lab.xml (EX-101.LAB) — 36KB
- vrme-20241208_pre.xml (EX-101.PRE) — 25KB
- p12122468k_htm.xml (XML) — 5KB
01 Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets. On December 8, 2024, VerifyMe, Inc. (the "Company") and Paul Ryan (the "Buyer"), who previously served as Exec utive Vice President, Authentication Segment, and was employed by Trust Codes Global Limited, a wholly-owned subsidiary of the Company, entered into a Share Sale Agreement (the "Agreement") whereby the Company sold 100% of its equity interest in Trust Codes Global Limited in exchange for aggregate cash consideration of approximately NZD $1. Through his purchase, the Buyer assumed all continuing obligations and liabilities of Trust Codes Global Limited.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (b) Pro Forma Financial Information. The following unaudited pro forma financial information of the Company is filed as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference: Unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2023 and the nine months ended September 30, 2024. In accordance with Rule 11-02(b) of Regulation S-X, the Company is omitting a pro forma balance sheet due to the limited number of pro forma adjustments required. A narrative description of the pro forma effects of the sale of Trust Codes Global Limited on the Company's unaudited consolidated balance sheet as of September 30, 2024 is provided in Note 2 of the notes to the unaudited pro forma consolidated financial statements. (d) Exhibits . Exhibit No. Description 99.1 Unaudited Pro Forma Consolidated Financial Statements 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VerifyMe, Inc. Date: December 12, 2024 By: /s/ Adam Stedham Adam Stedham Chief Executive Officer and President