VerifyMe CEO Adam Stedham acquires $15,620 in frequent inventory

Adam Stedham, CEO and President of VerifyMe, Inc. (NASDAQ:VRME), lately acquired 22,000 shares of the corporate’s frequent inventory. The transaction, which passed off on December 30, 2024, concerned a purchase order worth of $0.71 per share, totaling $15,620. This insider buy comes because the inventory trades close to $0.79, having proven robust momentum with a 16% acquire over the previous week. In response to InvestingPro evaluation, VRME seems undervalued at present ranges. Following this acquisition, Stedham holds 267,004 shares immediately, together with 28,592 vested restricted inventory models that may convert to frequent inventory upon his departure from the board.

Along with the frequent inventory, Stedham holds numerous restricted inventory models and an 8% convertible promissory word due in 2026, which collectively characterize important potential future fairness in VerifyMe.

In different latest information, VerifyMe, Inc. faces potential delisting from the Nasdaq on account of non-compliance with the change’s minimal bid worth requirement. The know-how options supplier has been given a 180-day interval to regain compliance. Regardless of this problem, the corporate maintains a wholesome monetary standing with a average debt degree, as indicated by its debt-to-equity ratio of 0.24.

Within the third quarter of 2024, VerifyMe reported a lower in income to $5.4 million from $5.6 million within the earlier 12 months. The online loss for the quarter was $2.4 million, largely influenced by a $2.3 million goodwill impairment.

As a part of its strategic realignment, VerifyMe offered its subsidiary, Belief Codes World Restricted. The corporate additionally prolonged its share repurchase program till December 31, 2025, permitting the repurchase of as much as $500,000 of its frequent inventory.

VerifyMe is planning a strategic shift, together with an exit from its Amazon (NASDAQ:AMZN) Transparency partnership to focus on extra worthwhile areas inside the Authentication phase, resembling ink merchandise. The corporate goals to realize adjusted EBITDA positivity by 2025, specializing in operational enhancements in Precision Logistics to enhance shareholder worth. These are the newest developments within the firm’s technique.

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