• VerifyMe is like **Carfax for physical products and brands**.
• VerifyMe is like **Norton Antivirus for physical products and supply chains**.

• VerifyMe Engage: A service enabling brands to gather business intelligence and engage consumers through product authentication.
• VerifyMe Authenticate: Provides an assortment of patented tools, including invisible ink, smartphone-compatible devices, tamper-proof labels, and handheld checkers, for product authentication.
• VerifyMe Track & Trace: A technology offering supply chain serialization and tracking using dynamic codes and a cloud-based system.
• VerifyMe Online: Services and technologies designed to combat counterfeit products promoted or sold on websites, e-commerce platforms, and social media.

VerifyMe (VRME) primarily sells its technology solutions and services to other companies, operating in a business-to-business (B2B) model. Based on publicly available information, specific names of major customers are not disclosed, often due to confidentiality agreements or because no single customer accounts for a material portion of their revenue that would necessitate individual disclosure in financial filings.

However, VerifyMe targets and serves a range of companies across various industries. The categories of companies it serves include:

1. Global brands and multi-national corporations seeking comprehensive solutions for product authentication, anti-counterfeiting, and supply chain integrity.
2. Companies in industries highly susceptible to counterfeiting, such as luxury goods, pharmaceuticals, consumer electronics, and specialty products like cannabis.
3. Brand owners focused on enhancing consumer engagement and gathering business intelligence through direct interaction with authenticated products.

• INX International Ink Company (Parent company: Sakata INX Corp, TYO: 4633)

Adam Stedham CEO

Mr. Stedham has served as the CEO of VerifyMe since June 2023. Prior to his role at VerifyMe, he was the CEO of GP Strategies, a NYSE-listed company that was subsequently sold to a UK public company (Learning Technologies Group) for approximately $400 million in October 2021. He possesses extensive experience and expertise in strategic relationship management, acquisitions and divestitures, business development, and managing global operations. Mr. Stedham holds graduate degrees from the University of Pennsylvania, Ball State University, and Anderson University.

Jennifer Cola Chief Financial Officer

Ms. Cola was appointed Chief Financial Officer, effective July 2025, after joining the company as Vice President of Finance in May 2025. Before her tenure at VerifyMe, she served as the CFO of GP Strategies Government Solutions, Inc., a subsidiary of GP Strategies Corp., from January 2024 to April 2025. Her previous experience also includes roles as VP, Internal Audit & Risk for Learning Technologies Group, plc, and VP of Internal Audit for GP Strategies Corporation. With over 25 years of experience in public accounting, Ms. Cola has led audit and risk management initiatives to strengthen financial controls across global operations. She holds a Bachelor of Business Administration degree from Providence College, a Master of Business Administration degree from Loyola University, and is a Certified Public Accountant.

Paul Ryan Executive Vice President, Authentication Segment

Mr. Ryan co-founded the Trust Codes platform, which VerifyMe acquired in March 2023. He developed this platform into a product cloud that provides brand protection, consumer engagement, GS1 digital link, and traceability solutions. He brings 30 years of experience from various global software and technology businesses, including the medical records processing, payments, and traceability sectors.

Curt Kole Executive Vice President, Precision Logistics Segment

Mr. Kole has 25 years of experience in the logistics industry, with a deep understanding of the needs of customers whose products have specific time, temperature, or other criticality requirements. He previously served as the Executive Vice President, Global Sales and Strategy at PeriShip Global, a VerifyMe subsidiary.

Jack Wang Chief Tech/Sci/R&D Officer

Mr. Wang was appointed Chief Tech/Sci/R&D Officer on July 31, 2023.

The key risks to VerifyMe (symbol: VRME) are:

1. Financial Challenges and Profitability Concerns: VerifyMe has consistently faced challenges with profitability, reporting net losses across multiple quarters and fiscal years. The company's net margins and operating margins have been negative. Financial health indicators, such as an Altman Z-Score, have placed the company in a "distress zone," signaling a potential risk of bankruptcy within the next two years. Although there have been improvements in gross margins and reductions in operating expenses in some periods, overall profitability remains a significant concern, compounded by reduced revenue guidance and the loss of key customer relationships.
2. Nasdaq Delisting Risk: VerifyMe has received notices of non-compliance with Nasdaq's continued listing requirements, specifically the Minimum Bid Price Rule, due to its stock price falling below the $1.00 threshold. Continued non-compliance could lead to the delisting of its stock. Delisting would likely result in decreased stock price and liquidity, hinder the company's ability to raise capital, and potentially erode investor and business partner confidence, possibly relegating its stock to over-the-counter markets.
3. Reliance on a Single Strategic Partner and Competitive Pressures: A substantial portion of VerifyMe's revenue is generated by its Precision Logistics segment, which heavily depends on a single major global carrier for shipping services. Any disruption, modification, or termination of this crucial relationship could materially and adversely impact the company's business and financial results. Furthermore, VerifyMe operates in a highly competitive logistics and authentication market, facing sector-specific risks such as technological obsolescence and intense competition from major logistics providers. The authentication segment also experiences challenges with long lead times for product commercialization with large entities.

VerifyMe (VRME) addresses several significant markets with its technology solutions:

• Authentication and Brand Protection: This market encompasses technologies like VerifyInk, VerifyAuthenticator, VerifyLabel, and VerifyChecker. The global authentication and brand protection market size was valued at USD 2.99 billion in 2024 and is projected to grow to USD 7.64 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 12.80% during the forecast period. North America held a substantial share of this market, valued at USD 1.00 billion in 2024. Other estimates suggest the global market was around USD 3.7 billion in 2025 and is likely to expand to over USD 8.84 billion by 2035, growing at a CAGR of more than 9.1%.

• Track & Trace Solutions / Supply Chain Traceability: VerifyMe's Track & Trace service, including VerifyCode, operates within this market. The global track and trace solutions market size was estimated at USD 7 billion in 2024, with projections indicating growth to approximately USD 39.22 billion by 2034, at a CAGR of 18.95% between 2025 and 2034. Separately, the global supply chain traceability market size reached USD 7.4 billion in 2024 and is projected to expand at a CAGR of 17.2% from 2025 to 2033, reaching USD 31.1 billion by 2033. North America is a dominant region in this market, accounting for approximately 40% of the revenue in 2024. The U.S. track and trace solutions market size was valued at USD 2.40 billion in 2024 and is expected to be worth around USD 13.67 billion by 2034.

• Online Brand Protection: This market relates to VerifyMe Online services. The global online brand protection software market is projected to grow from USD 1.5 billion in 2023 to USD 4.2 billion by 2032, with a CAGR of 12.1% over the forecast period. Another report estimates the global Online Brand Protection Service market to reach USD 5.5 billion by 2025, with a projected CAGR of 15% through 2033. North America is a leading region, with its market size valued at approximately USD 600 million in 2023 and projected to reach around USD 1.6 billion by 2032. North America holds approximately 45% of the global market share for online brand protection software.

• Consumer Engagement Solutions: VerifyMe Engage services fall under this category. The global customer engagement solutions market size was estimated at USD 23.45 billion in 2023 and is projected to reach USD 50.03 billion by 2030, growing at a CAGR of 11.8% from 2024 to 2030. Another source shows the global market size surpassed USD 25.85 billion in 2025 and is projected to witness a CAGR of over 10.7% from 2026 to 2035, reaching USD 71.44 billion by 2035. North America played a significant role, dominating the market with a revenue share of 71.5% in 2023.

VerifyMe (NASDAQ: VRME) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and market shifts. The company's primary growth engines are expected to come from its Precision Logistics segment, strategic acquisitions, expansion through new freight carrier relationships, and a significant reorientation of its business through a planned merger into the digital asset space.

Here are the key drivers of future revenue growth for VerifyMe:

• Expansion and Customer Growth in Precision Logistics (PeriShip): The Precision Logistics segment, primarily through its PeriShip subsidiary, has become the dominant revenue generator for VerifyMe, accounting for 99% of its revenue in Q3 2025. The company has demonstrated revenue growth in its proactive services within this segment, which has nearly offset the impact of discontinued contracts. Management is focused on increasing its customer base and expanding its share of existing customer wallets. In the first half of 2024, VerifyMe increased its proactive service customer base by 7% compared to 2023.
• Strategic Acquisitions: VerifyMe has explicitly stated its intention to pursue strategic acquisitions to complement its existing services and drive growth. The company continues to evaluate both "tuck-in" and potentially transformative acquisition opportunities.
• New Freight Carrier Integration and E-commerce Market Share Expansion: To bolster its Precision Logistics segment, VerifyMe has integrated an additional freight carrier relationship and completed integrations with e-commerce shopping carts. This move is aimed at capturing a larger share of the logistics market. This new carrier relationship is anticipated to significantly contribute to meaningful organic revenue growth in 2026.
• Transformational Merger into Regulated Digital Asset Infrastructure and Institutional Tokenization: A pivotal future growth driver is VerifyMe's announced plan to merge with Open World Ltd., a blockchain infrastructure and real-world asset (RWA) tokenization platform. This strategic merger is expected to reorient VerifyMe's core focus toward regulated digital asset infrastructure and institutional tokenization, leveraging Open World's existing RWA initiatives, particularly in markets like Saudi Arabia. This represents a fundamental shift in the company's business model, opening up new and potentially significant revenue streams in the evolving blockchain and digital asset markets.

Share Repurchases

• In November 2024, VerifyMe's board extended its share repurchase plan to December 31, 2025, authorizing repurchases of up to $500,000 of common stock.
• On June 30, 2022, the company's board approved a new $1.5 million share repurchase program to buy back common stock over 12 months, replacing a previous program.
• An equity buyback program for up to $0.5 million was announced in August 2023, valid until December 14, 2024.

Share Issuance

• VerifyMe entered into a definitive merger agreement with Open World Ltd. in February 2026, a stock transaction expected to result in existing VerifyMe shareholders owning approximately 10% of the combined company, and Open World investors owning approximately 90% through newly issued stock.
• The company terminated its previously established $15.8 million at-the-market (ATM) equity program in February 2026, which had not been utilized to sell any shares.
• The number of shares outstanding for VerifyMe increased by 18.47% in the year prior to March 2026.

Inbound Investments

• The strategic merger with Open World Ltd., agreed upon in early 2026, will result in Open World shareholders becoming controlling shareholders (approximately 90% ownership) of the combined entity, representing a significant change in ownership and an effective inbound investment into the combined company.

Outbound Investments

• VerifyMe completed the acquisition of PeriShip, its wholly-owned subsidiary, prior to July 2022.
• In March 2025, VerifyMe made a decision to divest an unprofitable operation to focus capital on areas with higher potential for shareholder returns.

Capital Expenditures

• Historical capital expenditures were reported as $1 million for both 2023 and 2024.
• Projected capital expenditures are $3 million for 2025 and $3 million for 2026.
• In the 12 months leading up to March 2026, capital expenditures were reported at -$7,000.