VerifyMe, Inc. (VRME): M&A transaction — VerifyMe sells Trust Codes Global for NZD $1 to former EVP Paul Ryan

VerifyMe, Inc.

Sold 100% of subsidiary Trust Codes Global Limited for aggregate cash consideration of approximately NZD $1.
Buyer Paul Ryan, former EVP Authentication Segment, assumed all continuing obligations and liabilities of TCGL.
Pro forma FY2023 net loss improves from -$3.39M to -$2.56M after removing TCGL's $314K revenue and expenses.
Pro forma nine-month 2024 net loss improves from -$3.32M to -$1.54M after removing TCGL's $241K revenue.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.99

VerifyMe, Inc. completed a disposition involving Paul Ryan for NZD $1 (closed 2024-12-08).

Action: disposition
Counterparty: Paul Ryan
Consideration: NZD $1
Closing: 2024-12-08

Exact text from the filing

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.

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VerifyMe, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-24-020448

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