 New Application of its Technology in the Personal Protective Equipment Space Accelerated Revenue Growth Strong Cash Position of 15.4 Million ROCHESTER, NY ACCESSWIRE May 13, 2021 VerifyMe, Inc. NASDAQ:VRME VerifyMe, we, our, or the Company, a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, today announced the Companys financial results for the first quarter ended March 31, 2021 Q1 2021. Key Financial Highlights for Q1 2021: Revenues of 188 thousand for the three months ended March 31, 2021 compared to 92 thousand for the three months ended March 31, 2020 or an increase of 104 Gross profit of 145 thousand or 77 for the three months ended March 31, 2021 compared to 75 thousand or 82 for the three months ended March 31, 2020 Operating loss of 1,215 thousand for the three months ended March 31, 2021 compared to an operating loss of 669 thousand or an increase of 82 for the three months ended March 31, 2020 Net loss of 1,215 thousand or 0.19 fully diluted loss per share for the three months ended March 31, 2021 compared to a net loss of 1,092 thousand or 0.49 fully diluted loss per share for the three months ended March 31, 2020 Adjusted EBITDA, a non-GAAP financial measure, loss of 754 thousand for the three months ended March 31, 2021 compared to and adjusted EBITDA loss of 322 thousand for the three months ended March 31, 2020, or an increase of 134 Raised approximately 8,447 thousand in net proceeds in a bought deal of common stock priced at 5.30 per share with Maxim Group, including partial exercise of the over-allotment option Cash and cash equivalents of 15.4 million at March 31, 2021 Key Business Highlights for Q1 2021: Signed strategic partnership with Renavotio to add anti-counterfeiting, track and trace and brand protection solutions to Personal Protective Equipment; received and delivered an initial purchase order for 2 million pre-printed anti-counterfeiting labels for 2 million boxes of surgical gloves Commenced research on migration from a software-as-a-service business model to a blockchain-as-a-service technology for supply chain management, internet of things and product tracking, authentication and consumer engagement Signed sales agency agreement with Syntax Technology Ltd. 