VRME - VerifyMe is severely undervalued: CEO

"VerifyMe is severely undervalued as cash is 50% of our low market cap," says Patrick White, VerifyMe (VRME) President and CEO speaking at virtual annual shareholder meeting yesterday.Cash balance stands at $9.6M as of June 30, 2020, while sales pipeline of opportunities is over $12M through 50+ projects ranging in size from $60K to $6M in anticipated annual sales."Increased revenue traction with existing and new clients has begun."The company says it is talks with a large multi-billion distributor who is sourcing the development of an inkjet version of its ink taggant, that could potentially result in 95% expanded use of VerifyMe's technology to label and packaging industry. It plans to penetrate"Additionally, we are seeking complementary and accretive acquisitions that we believe can further boost our growth and profitability.""We are optimistic with potential opportunities with the U.S. federal government, including HSE borders and customs ports of entry and CDC/FDA mandates," he notes, adding "the apparel, cannabis

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VerifyMe is severely undervalued: CEO