VerifyMe, Inc. (NASDAQ:VRME) Q3 2022 Earnings Conference Call November 10, 2022 11:00 AM ET

Company Participants

Nancy Meyers - Senior Vice President-Finance & Investor Relations

Scott Greenberg - Executive Chairman

Patrick White - Chief Executive Officer

Curt Kole - Executive Vice President-Sales & Global Strategy

Margaret Gezerlis - Executive Vice President & Chief Financial Officer

Conference Call Participants

Mike Petusky - Barrington Research

Jack Vander - Maxim Group

Operator

Good morning, and welcome to the VerifyMe Third Quarter 2022 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Nancy Meyers, Senior Vice President, Finance and Investor Relations. Please go ahead.

Nancy Meyers

Good morning, everyone, and thank you for joining us today for our earnings call presentation. On the call today we have; Scott Greenberg, Executive Chairman; Patrick White, CEO; Margaret Gezerlis, CFO; and Curt Kole, Executive Vice President, Sales and Global Strategy, to give you an update on our third quarter 2022 results. Following our management presentation, we will have a Q&A session.

I would like to bring your attention to the note on forward-looking statements on slide 3. Today's presentation and the answers to questions include forward-looking statements. It should be understood that actual results could differ materially from those projected due to a number of factors, including those described under the forward-looking statements caption and on the risk factors of the company's annual report on Form 10-K and quarterly reports on Form 10-Q.

I will now turn the call over to Scott Greenberg for some opening remarks.

Scott Greenberg

Thank you, Nancy. Good morning, and welcome to our third quarter 2022 earnings conference call. The results and future outlook clearly show that we are making progress in transforming the company from a technology start-up to a revenue-generated operating company, focused on logistics, systems, customer engagement and authentication.

Today, Patrick will give an operations update, Margaret will give a financial review, and new to our mix, Curt Kole will give an introduction and a further update on PeriShip. Then we will follow with a Q&A session.

Next slide, please. The next slide really just shows the financial and equity snapshot. The symbols [ph] VerifyMe, we currently have 9 million shares outstanding. Our cash balance at the end of September was $3.7 million, and Margaret will talk about this in detail. But the good news on our debt, even though our debt is roughly the same as it was last quarter, it has now been turned over to a long-term debt, and we have a commercial relationship with PNC Bank.