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VRME Stock Price Correlated With VerifyMe Financials
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Income Statement
Cash Flow
Balance Sheet
VRME Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
VRME Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
VRME Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of the Business
VerifyMe, Inc. (“VerifyMe,”
the “Company,” “we,” “us,” or “our”) was incorporated in the State of Nevada on November 10,
1999. The Company is based in Rochester, New York and its common stock, par value $ 0.001 per share, and warrants to purchase common stock
are traded on The Nasdaq Capital Market (“Nasdaq”) under the trading symbols “VRME” and “VRMEW,” respectively.
The Company is a technology
solutions provider specializing in products to connect brands with consumers. VerifyMe technologies give brand owners the ability to gather
business intelligence while engaging directly with their consumers. VerifyMe technologies also provide brand protection and supply chain
functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products.
We began to commercialize our covert luminescent pigment VerifyInk TM in 2018. Prior to 2021 we completed the initial development
stage of our other current technologies and in 2021 we began to commercialize as a Brand Protection Solutions provider. The Company’s
activities are subject to significant risks and uncertainties, including its ability to successfully commercialize its technologies and
the need to further develop the Company’s intellectual property.
Reclassifications
Certain amounts presented for the three months ended March
31, 2021, reflect reclassifications made to conform to the presentation in our current reporting period.
Basis of Presentation
The accompanying unaudited interim financial
statements (the “Interim Statements”) have been prepared pursuant to the rules and regulations for reporting on Form 10-Q.
Accordingly, certain information and disclosures required by U.S. generally accepted accounting principles (“GAAP”) for complete
financial statements are not included herein. The Interim Statements should be read in conjunction with the financial statements and notes
thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities
and Exchange Commission (the “SEC”) on March 14, 2022. The accompanying Interim Statements are unaudited; however, in
the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have
been included. The interim results for the three months ended March 31, 2022, are not necessarily indicative of the results to be expected
for the year ending December 31, 2022, or for any future interim periods.
Use of Estimates
The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from these estimates.
Fair Value of Financial Instruments
The Company’s financial instruments consist
of accounts receivable, accounts payable, notes payable and accrued expenses, equity investments, and long-term derivative liabilities.
The carrying value of accounts receivable, accounts payable and accrued expenses approximate their fair value because of their short maturities.
The Company believes the carrying amount of its notes payable approximate fair value based on rates and other terms currently available
to the Company for similar debt instruments.
The Company follows FASB ASC 820, “Fair
Value Measurements and Disclosures,” and applies it to all assets and liabilities that are being measured and reported on a fair
value basis. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following
three categories:
Level 1: Quoted market prices in active markets
for identical assets or liabilities
Level 2: Obse
Nature of the Business
VerifyMe, Inc. (“VerifyMe,”
the “Company,” “we,” “us,” or “our”) was incorporated in the State of Nevada on November 10,
1999. The Company is based in Rochester, New York and its common stock, par value $ 0.001 per share, and warrants to purchase common stock
are traded on The Nasdaq Capital Market (“Nasdaq”) under the trading symbols “VRME” and “VRMEW,” respectively.
The Company is a technology
solutions provider specializing in products to connect brands with consumers. VerifyMe technologies give brand owners the ability to gather
business intelligence while engaging directly with their consumers. VerifyMe technologies also provide brand protection and supply chain
functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products.
We began to commercialize our covert luminescent pigment VerifyInk TM in 2018. Prior to 2021 we completed the initial development
stage of our other current technologies and in 2021 we began to commercialize as a Brand Protection Solutions provider. The Company’s
activities are subject to significant risks and uncertainties, including its ability to successfully commercialize its technologies and
the need to further develop the Company’s intellectual property.
Reclassifications
Certain amounts presented for the three months ended March
31, 2021, reflect reclassifications made to conform to the presentation in our current reporting period.
Basis of Presentation
The accompanying unaudited interim financial
statements (the “Interim Statements”) have been prepared pursuant to the rules and regulations for reporting on Form 10-Q.
Accordingly, certain information and disclosures required by U.S. generally accepted accounting principles (“GAAP”) for complete
financial statements are not included herein. The Interim Statements should be read in conjunction with the financial statements and notes
thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities
and Exchange Commission (the “SEC”) on March 14, 2022. The accompanying Interim Statements are unaudited; however, in
the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have
been included. The interim results for the three months ended March 31, 2022, are not necessarily indicative of the results to be expected
for the year ending December 31, 2022, or for any future interim periods.
Use of Estimates
The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from these estimates.
Fair Value of Financial Instruments
The Company’s financial instruments consist
of accounts receivable, accounts payable, notes payable and accrued expenses, equity investments, and long-term derivative liabilities.
The carrying value of accounts receivable, accounts payable and accrued expenses approximate their fair value because of their short maturities.
The Company believes the carrying amount of its notes payable approximate fair value based on rates and other terms currently available
to the Company for similar debt instruments.
The Company follows FASB ASC 820, “Fair
Value Measurements and Disclosures,” and applies it to all assets and liabilities that are being measured and reported on a fair
value basis. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following
three categories:
Level 1: Quoted market prices in active markets
for identical assets or liabilities
Level 2: Obse
Free historical financial statements for VerifyMe Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 27 quarters since 2018. Compare with VRME stock chart to see long term trends.
Data imported from VerifyMe Inc. SEC filings. Check original filings before making any investment decision.