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VerifyMe, Inc. (NASDAQ:VRME), a Nevada-based technology firm specializing in computer integrated systems design with a market capitalization of $7.29 million, has been notified by the Nasdaq Stock Market of non-compliance with the exchange’s minimum bid price requirement. The stock, which has declined over 57% in the past year according to InvestingPro data, is currently trading at $0.59, just slightly above its 52-week low of $0.57. The notification, received on Wednesday, April 3, 2025, states that VerifyMe’s common stock has not maintained the minimum $1 per share bid price over the last 30 consecutive business days, as required by Nasdaq Listing Rule 5550(a)(2).
According to the Nasdaq Listing Rule 5810(c)(3)(A), VerifyMe has been granted a 180-day period, ending on September 30, 2025, to regain compliance. InvestingPro analysis suggests the company is currently undervalued, with 13 additional ProTips available to subscribers, including insights on the company’s financial health and growth prospects. To achieve this, the company’s common stock must close at $1 per share or higher for at least 10 consecutive business days within this timeframe. If VerifyMe successfully meets this criterion, it will automatically regain compliance with Nasdaq’s minimum bid price rule.
In the event that VerifyMe does not regain compliance by the September deadline, it may be considered for an additional 180-day compliance period, provided it meets all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement. Despite current market challenges, the company maintains a strong balance sheet with more cash than debt and a current ratio of 1.5x, indicating adequate liquidity to manage its near-term obligations. The company would also need to inform Nasdaq of its intent to resolve the bid price deficiency.
Should VerifyMe fail to satisfy the Nasdaq’s continued listing standards, it risks having its common stock delisted. However, the company would have the right to appeal the delisting decision to a Nasdaq hearings panel. The notice from Nasdaq currently does not affect the listing of VerifyMe’s common stock, and the company has expressed its intention to monitor the bid price closely and evaluate options to address the situation.
This news follows VerifyMe’s previous identity as LaserLock Technologies Inc. before changing its name on October 4, 2000. For comprehensive analysis of VerifyMe’s financial health, valuation metrics, and growth potential, investors can access the detailed Pro Research Report available exclusively on InvestingPro, which provides in-depth analysis of this and 1,400+ other US stocks. The company’s headquarters are located in Lake Mary, Florida, and it is led by CEO and President Adam Stedham.
Investors are reminded that forward-looking statements, such as VerifyMe’s ability to regain compliance with Nasdaq’s Listing Standards, involve risks and uncertainties that could cause actual results to differ materially from expectations. These statements reflect the company’s current beliefs based on information currently available.
This article is based on a press release statement filed with the SEC.
In other recent news, VerifyMe Inc. reported its fourth-quarter 2024 financial results, revealing a shortfall in both earnings per share (EPS) and revenue. The company recorded an EPS of -$0.05, missing the expected -$0.01, while revenue came in at $7.7 million, below the forecasted $8.76 million. Despite these results, VerifyMe noted an improvement in its full-year gross margin, which rose to 36% from 32% in 2023. Additionally, the company divested its TrustCoast global business as part of efforts to streamline operations. Analysts from Barrington Research expressed concerns about the company’s performance, particularly regarding the loss of a significant customer, which continues to affect earnings. VerifyMe has also taken steps to bolster its financial position, including a $4.7 million capital raise and reducing its convertible debt. These developments indicate the company’s focus on strategic investments to enhance shareholder value.
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