Amcor Demonstrating Connected Packaging at Pack Expo 2023 with VerifyMe, Inc
LAKE MARY, Fla., Sept. 5, 2023 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) together with its subsidiaries, Trust Codes Global Limited ("Trust Codes Global") and PeriShip Global LLC ("PeriShip Global"), (together "VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, supply chain traceability, authentication, anti-counterfeiting, and data-rich brand enhancement services, announced today that they will be demonstrating their connected packaging solution in conjunction with Amcor at Pack Expo in Las Vegas between September 11 and 13 2023.
The evolution of connected packaging and GS1 driven 2D barcode migration means consumer-facing companies are increasingly adopting digital capabilities on packaging to protect their brand, facilitate traceability and engage with conscious and curious consumers. The Company is working with Amcor to demonstrate that this digital transformation is possible without significant process change, using a "digital ready" concept leveraging a unique identifier on every pack.
Don Schnabel, Marketing Director - Meat, Poultry and Seafood at Amcor says, "The beauty of connected packaging is that multiple objectives can be achieved through one unique code on each package, enabling a frictionless experience for consumers and ultimate traceability for processors.
Don Schnabel continued "We are demonstrating the capability to print unique GS1 compliant QR codes on demand at Pack Expo, using our Moda Bag. This on-demand making unit can print both fixed and variable graphics on site at the processor. The unit is wash-down ready and is built to replace a rack of premade bags on the packaging floor. Visitors to Pack Expo can view a live demonstration of the Amcor Moda Bag at booth SU07244".
The VerifyMe solution integrates with the new GS1 Digital Link standard to provide traceability through the supply-chain to end consumers, while at the same time helping brands and producers to comply with traceability regulations such as the US FDA Food Traceability Rule. Consumers are increasingly curious about the provenance and attributes of the food they are consuming, and this technology provides a channel to share that information backed by data-driven evidence.
Adam Stedham, President and CEO of VerifyMe said "We are delighted that Amcor is demonstrating our connected packaging solution at Pack Expo in Las Vegas. VerifyMe acquired, the New Zealand based, Trust Codes Global to vertically integrate its technology stack, brand protection, and brand enhancement offerings into our Authentication Segment. We believe Trust Codes Global's deep domain expertise and product development in machine learning and AI, and industry expertise in food, nutrition, beverage, and nutraceuticals, provides the capability to deliver better outcomes to customers facing counterfeit, brand connection and diversion issues."
Incorporating the Trust Codes Global leading product cloud into VerifyMe's Authentication services significantly elevates our traceability offering. As a product offering, our clients have access to data-driven brand protection and standards-based traceability out of the box. Trust Codes Global has a proven platform, with customers who are leading the way in traceability and GS1 2D barcode migration. We believe VerifyMe is well-positioned to lead North American and European customers along the journey of complying with new traceability requirements.
About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2023, 41,000 Amcor people generated $14.7 billion in annual sales from operations that span 218 locations in 41 countries. NYSE: AMCR; ASX: AMC
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), together with its subsidiaries, Trust Codes Global and PeriShip Global, provides traceability, brand protection and brand enhancement solutions. The company operates an Authentication Segment and a Precision Logistics Segment to provide item-level traceability, anti-diversion and anti-counterfeit protection, brand protection and enhancement technology solutions, as well as specialized logistics for time and temperature sensitive products. VerifyMe serves customers worldwide. To learn more, visit www.verifyme.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding the Company's strategic reorganization, its position to provide value to its customer and shareholders, and expectations related to its customer base and revenue growth. The words "believe," "will," and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our engagement in future acquisitions or strategic partnerships that increase our capital requirements or cause us to incur debt or assume contingent liabilities, the successful integration of our acquisitions (including the assets of PeriShip Global and Trust Codes Global), our reliance on one key strategic partner for shipping services in our Precision Logistics segment, competition including by our key strategic partner, seasonal trends in our business, sever climate conditions, the highly competitive nature of the industry in which we operate, our brand image and corporate reputation, impairments related to our goodwill and other intangible assets, economic and other factors such as recessions, downturns in the economy, inflation, global uncertainty and instability, the effects of pandemics, changes in United States social, political, and regulatory conditions and/or a disruption of financial markets, reduced freight volumes due to economic conditions, reduced discretionary spending in a recessionary environment, global supply-chain delays or shortages, fluctuations in labor costs, raw materials, and changes in the availability of key suppliers, our history of losses, our ability to use our net operating losses to offset future taxable income, the confusion of our name brand with other brands, the ability of our technology to work as anticipated and to successfully provide analytics logistics management, our ability to manage our growth effectively, the small number of customers that account for our revenue, our ability to successfully develop and expand our sales and marketing capabilities, risks related to doing business outside of the U.S., intellectual property litigation, our ability to successfully develop, implement, maintain, upgrade, enhance, and protect our information technology systems, our reliance on third-party information technology service providers, our ability to respond to evolving laws related to information technology such as privacy laws, risks related to deriving revenue from some clients in the cannabis industry, our ability to retain key management personnel, our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, our ability to acquire new customers, issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies and the efficiency of our authenticators in the field, our ability to comply with the continued listing standards of the Nasdaq Capital Market, and our ability to timely pay amounts due and comply with the covenants under our debt facilities. These risk factors and uncertainties include those more fully described in VerifyMe's Annual Report and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Should one or more of these risks or uncertainties materialize, or should any of our underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE VerifyMe, Inc.
