$VRME
VerifyMe Inc Stock $vrme

$vrme Overview Financials Valuation SEC Filings Company Website

2015 Q2 Form 10-Q Financial Statement

#000119312515296110 Filed on August 19, 2015

Income Statement

Concept	2015 Q2	2014 Q2
Revenue	$68.38K	$65.15K
YoY Change	4.95%
Cost Of Revenue	$36.08K	$54.44K
YoY Change	-33.73%
Gross Profit	$32.30K	$10.71K
YoY Change	201.61%
Gross Profit Margin	47.23%	16.44%
Selling, General & Admin	$80.45K	$350.0K
YoY Change	-77.02%	-95.85%
% of Gross Profit	249.1%	3268.61%
Research & Development	$2.016M	$83.89K
YoY Change	2303.23%	-47.57%
% of Gross Profit	6242.26%	783.4%
Depreciation & Amortization	$17.31K	$17.31K
YoY Change	0.0%	-42.29%
% of Gross Profit	53.61%	161.68%
Operating Expenses	$2.433M	$890.3K
YoY Change	173.27%	-89.64%
Operating Profit	-$2.401M	-$879.6K
YoY Change	172.93%	-89.76%
Interest Expense	$24.90K	$13.12K
YoY Change	89.8%	-101.47%
% of Operating Profit
Other Income/Expense, Net	$1.444M	$4.531M
YoY Change	-68.13%
Pretax Income	-$960.0K	$3.650M
YoY Change	-126.3%	-133.92%
Income Tax	$0.00	$0.00
% Of Pretax Income		0.0%
Net Earnings	-$956.3K	$3.652M
YoY Change	-126.19%	-133.94%
Net Earnings / Revenue	-1398.65%	5605.46%
Basic Earnings Per Share	-$0.24	$1.03
Diluted Earnings Per Share	-$0.24	$0.96
COMMON SHARES
Basic Shares Outstanding	3.934M shares	3.553M shares
Diluted Shares Outstanding	3.934M shares	3.807M shares

Balance Sheet

Concept	2015 Q2	2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.010M	$110.0K
YoY Change	818.18%	-96.17%
Cash & Equivalents	$1.011M	$107.8K
Short-Term Investments
Other Short-Term Assets	$180.0K	$180.0K
YoY Change	0.0%	-61.7%
Inventory	$74.58K	$80.00K
Prepaid Expenses	$178.7K
Receivables	$62.13K	$60.00K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$1.326M	$430.0K
YoY Change	208.36%	-87.32%
LONG-TERM ASSETS
Property, Plant & Equipment	$40.19K	$110.0K
YoY Change	-63.46%	-38.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$136.6K	$40.00K
YoY Change	241.42%	0.0%
Total Long-Term Assets	$176.8K	$270.0K
YoY Change	-34.53%	-20.59%
TOTAL ASSETS
Total Short-Term Assets	$1.326M	$430.0K
Total Long-Term Assets	$176.8K	$270.0K
Total Assets	$1.503M	$700.0K
YoY Change	114.67%	-81.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$740.0K	$410.0K
YoY Change	80.49%	7.89%
Accrued Expenses	$0.00	$20.00K
YoY Change	-100.0%	100.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$0.00	$270.0K
YoY Change	-100.0%	440.0%
Total Short-Term Liabilities	$740.2K	$900.0K
YoY Change	-17.76%	100.0%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$110.0K
YoY Change	-100.0%	-91.85%
Other Long-Term Liabilities	$3.180M	$3.750M
YoY Change	-15.2%	-81.29%
Total Long-Term Liabilities	$3.183M	$3.860M
YoY Change	-17.55%	-81.95%
TOTAL LIABILITIES
Total Short-Term Liabilities	$740.2K	$900.0K
Total Long-Term Liabilities	$3.183M	$3.860M
Total Liabilities	$3.923M	$4.760M
YoY Change	-17.59%	-78.21%
SHAREHOLDERS EQUITY
Retained Earnings	-$38.92M
YoY Change
Common Stock	$5.502K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)	$113.4K
YoY Change
Treasury Stock Shares
Shareholders Equity	-$2.420M	-$4.070M
YoY Change
Total Liabilities & Shareholders Equity	$1.503M	$700.0K
YoY Change	114.67%	-81.23%

Cashflow Statement

Concept	2015 Q2	2014 Q2
OPERATING ACTIVITIES
Net Income	-$956.3K	$3.652M
YoY Change	-126.19%	-133.94%
Depreciation, Depletion And Amortization	$17.31K	$17.31K
YoY Change	0.0%	-42.29%
Cash From Operating Activities	-$410.0K	-$720.0K
YoY Change	-43.06%	20.0%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	$0.00	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$50.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	1.350M	250.0K
YoY Change	440.0%
NET CHANGE
Cash From Operating Activities	-410.0K	-720.0K
Cash From Investing Activities	0.000	0.000
Cash From Financing Activities	1.350M	250.0K
Net Change In Cash	940.0K	-470.0K
YoY Change	-300.0%	-21.67%
FREE CASH FLOW
Cash From Operating Activities	-$410.0K	-$720.0K
Capital Expenditures	$0.00	$0.00
Free Cash Flow	-$410.0K	-$720.0K
YoY Change	-43.06%	20.0%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2013Q3	us-gaap	Convertible Preferred Stock Shares Issued Upon Conversion ConvertiblePreferredStockSharesIssuedUponConversion	12222222	shares
CY2015Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	5502106	shares
CY2015Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	304785	shares
CY2015Q2	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	317000
CY2015Q2	us-gaap	Interest Payable Current InterestPayableCurrent	42713
CY2015Q2	llti	Fair Value Of Warrants FairValueOfWarrants	1867417
CY2015Q2	llti	Number Of Shareholders NumberOfShareholders	3	Shareholder
CY2014Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	107770
CY2015Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	675000000	shares
CY2015Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	5502106	shares
CY2015Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2015Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	5852646	shares
CY2015Q2	us-gaap	Treasury Stock Number Of Shares Held TreasuryStockNumberOfSharesHeld	350540	shares
CY2015Q2	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	31605
CY2015Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	3182504
CY2015Q2	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	69531
CY2015Q2	us-gaap	Long Term Notes Payable LongTermNotesPayable	0
CY2015Q2	us-gaap	Stockholders Equity StockholdersEquity	-2419993
CY2015Q2	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	37926
CY2015Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	37043871
CY2014Q4	us-gaap	Accounts Payable And Accrued Liabilities Noncurrent AccountsPayableAndAccruedLiabilitiesNoncurrent	112885
CY2014Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	25047050
CY2015Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	126818
CY2015Q2	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	736022
CY2015Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	4167
CY2015Q2	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue	3182504
CY2015Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-38916367
CY2015Q2	us-gaap	Liabilities Liabilities	3922693
CY2015Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1502700
CY2015Q2	us-gaap	Common Stock Value CommonStockValue	5502
CY2015Q2	us-gaap	Liability For Uncertain Tax Positions Current LiabilityForUncertainTaxPositionsCurrent	0
CY2015Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2015Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	195832
CY2015Q2	us-gaap	Liabilities Current LiabilitiesCurrent	740189
CY2015Q2	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	16155
CY2015Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	136567
CY2015Q2	us-gaap	Assets Assets	1502700
CY2015Q2	us-gaap	Assets Fair Value Disclosure Recurring AssetsFairValueDisclosureRecurring	0
CY2015Q2	us-gaap	Inventory Net InventoryNet	74576
CY2015Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	62125
CY2015Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	40194
CY2015Q2	us-gaap	Deposits Assets Noncurrent DepositsAssetsNoncurrent	37197
CY2015Q2	us-gaap	Treasury Stock Value TreasuryStockValue	113389
CY2015Q2	us-gaap	Assets Current AssetsCurrent	1325939
CY2015Q2	us-gaap	Furniture And Fixtures Gross FurnitureAndFixturesGross	219871
CY2015Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	99370
CY2015Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	178684
CY2015Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1010554
CY2015Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	236026
CY2015Q2	us-gaap	Deferred Compensation Equity DeferredCompensationEquity	440052
CY2015Q2	llti	Employee Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Exercisable Weighted Average Exercise Price EmployeeShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndWarrantsExercisableWeightedAverageExercisePrice	4.22
CY2015Q2	llti	Employee Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Outstanding Weighted Average Exercise Price EmployeeShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndWarrantsOutstandingWeightedAverageExercisePrice	2.00
CY2015Q2	llti	Assets And Liabilities Measured At Fair Value On Nonrecurring Basis AssetsAndLiabilitiesMeasuredAtFairValueOnNonrecurringBasis	0
CY2015Q2	llti	Warrants Liability WarrantsLiability	3182504
CY2015Q2	llti	Reverse Stock Split Ratio ReverseStockSplitRatio	85	pure
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1285973
CY2014Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	675000000	shares
CY2014Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	3618566	shares
CY2014Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2014Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	3969106	shares
CY2014Q4	us-gaap	Treasury Stock Number Of Shares Held TreasuryStockNumberOfSharesHeld	350540	shares
CY2014Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	6483594
CY2014Q4	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	114000
CY2014Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	0
CY2014Q4	us-gaap	Stockholders Equity StockholdersEquity	-12125793
CY2014Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	118502
CY2014Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	5217770
CY2014Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2014Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	16667
CY2014Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	562006
CY2014Q4	us-gaap	Common Stock Value CommonStockValue	3618
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2018618	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3781380	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3527720	shares
CY2015Q2	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	50000
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.06
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-1428203
CY2014Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	43215
CY2014Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-37696405
CY2014Q4	us-gaap	Liabilities Liabilities	12687799
CY2014Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue	6370709
CY2014Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2014Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	161205
CY2014Q4	us-gaap	Notes Payable NotesPayable	926553
CY2014Q4	us-gaap	Liabilities Current LiabilitiesCurrent	6204205
CY2014Q4	us-gaap	Notes Payable Current NotesPayableCurrent	812553
CY2014Q4	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	16155
CY2014Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	144783
CY2014Q4	us-gaap	Assets Assets	562006
CY2014Q4	us-gaap	Inventory Net InventoryNet	97360
CY2014Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	74821
CY2014Q4	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	10447
CY2014Q4	us-gaap	Deposits Assets Noncurrent DepositsAssetsNoncurrent	37197
CY2014Q4	us-gaap	Treasury Stock Value TreasuryStockValue	113389
CY2014Q4	us-gaap	Assets Current AssetsCurrent	342402
CY2014Q4	us-gaap	Furniture And Fixtures Gross FurnitureAndFixturesGross	219871
CY2014Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	107586
CY2014Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	181086
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	63956
CY2014Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	236026
CY2014Q4	llti	Employee Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Outstanding Weighted Average Exercise Price EmployeeShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndWarrantsOutstandingWeightedAverageExercisePrice	4.25
CY2014Q4	llti	Warrants Liability WarrantsLiability	6370709
CY2015Q2	us-gaap	Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures	525000	shares
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.06
	us-gaap	Net Income Loss NetIncomeLoss	222136
	us-gaap	Sales Revenue Net SalesRevenueNet	65148
	us-gaap	Interest Paid InterestPaid	0
	us-gaap	Operating Income Loss OperatingIncomeLoss	-3108408
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	50013
	us-gaap	Income Taxes Paid IncomeTaxesPaid	0
	us-gaap	Gross Profit GrossProfit	10708
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	3330544
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	55148
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-5263
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-82000
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	65148
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	125817
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-1178203
	us-gaap	Operating Expenses OperatingExpenses	3119116
	us-gaap	Interest Expense InterestExpense	24028
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	250000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	948616
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	520604
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	116684
	us-gaap	Professional Fees ProfessionalFees	291198
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	54440
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	41180
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	250000
	us-gaap	Depreciation Depreciation	34626
	llti	Change In Fair Value Of Warrants ChangeInFairValueOfWarrants	2836572
	llti	Fair Value Of Stock In Excess Of Converted Notes Payable And Accrued Interest FairValueOfStockInExcessOfConvertedNotesPayableAndAccruedInterest	82000
	llti	Payroll Expenses PayrollExpenses	1232881
	llti	Fair Value Of Options Issued In Exchange For Services FairValueOfOptionsIssuedInExchangeForServices	802267
	llti	Stock And Warrants Issued In Exchange For Technology StockAndWarrantsIssuedInExchangeForTechnology	844000
	llti	Fair Value Of Warrants Issued As Debt Discount FairValueOfWarrantsIssuedAsDebtDiscount	34222
	llti	Fair Value Of Stock Issued For Conversion Of Notes Payable And Accrued Interest FairValueOfStockIssuedForConversionOfNotesPayableAndAccruedInterest	424588
	llti	Change In Fair Value Of Embedded Derivative Liability ChangeInFairValueOfEmbeddedDerivativeLiability	-600000
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.32
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-541345
	us-gaap	Unrecognized Tax Benefits Period Increase Decrease UnrecognizedTaxBenefitsPeriodIncreaseDecrease	0
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	Segment
	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i><u>Recently Issued Accounting Pronouncements Not Yet Adopted</u></i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> As of June 30, 2015, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s financial statements through 2017.</p> </div>
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2015
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001104038
	us-gaap	Debt Conversion Converted Instrument Warrants Or Options Issued1 DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1	1867417	shares
	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease	-1286845
	us-gaap	Sales Revenue Net SalesRevenueNet	74625
	us-gaap	Interest Paid InterestPaid	0
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	100
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	50000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-2803571
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Registrant Name EntityRegistrantName	VerifyMe, Inc.
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3777685	shares
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-22784
	us-gaap	Income Taxes Paid IncomeTaxesPaid	0
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b><i><u>Reclassifications</u></i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Certain amounts in 2014 statement of operations have been reclassified in order for them to conform with the 2015 presentation.</p> </div>
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3777685	shares
	dei	Document Period End Date DocumentPeriodEndDate	2015-06-30
	us-gaap	Use Of Estimates UseOfEstimates	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i><u>Use of Estimates</u></i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</p> </div>
	dei	Trading Symbol TradingSymbol	LLTI
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.32
	us-gaap	Property Plant And Equipment Depreciation Methods PropertyPlantAndEquipmentDepreciationMethods	Straight-line method
	us-gaap	Net Income Loss NetIncomeLoss	-1219962
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	164030
	us-gaap	Gross Profit GrossProfit	38546
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1583609
	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition	34093
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	62125
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-2402
	us-gaap	Royalty Revenue RoyaltyRevenue	12500
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	351918
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	62125
	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	802453
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	1115395
	us-gaap	Accretion Of Discount AccretionOfDiscount	10447
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-12500
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	23127
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	946598
	us-gaap	Operating Expenses OperatingExpenses	2842117
	us-gaap	Interest Expense InterestExpense	55154
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-100
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	1488043
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2136386
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	50000
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	2273138
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	633333
	us-gaap	Professional Fees ProfessionalFees	228435
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	36079
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	42943
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	159542
	us-gaap	Depreciation Depreciation	34626
	us-gaap	Restricted Stock Expense RestrictedStockExpense	6198
	us-gaap	Proceeds From Issuance Of Convertible Preferred Stock ProceedsFromIssuanceOfConvertiblePreferredStock	1278501
	llti	Conversion Of Convertible Notes Payable And Accrued Interest To Common Stock ConversionOfConvertibleNotesPayableAndAccruedInterestToCommonStock	801697
	llti	Change In Fair Value Of Warrants ChangeInFairValueOfWarrants	1286845
	llti	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Conversion Of Warrants Related To Licensing Fees FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueConversionOfWarrantsRelatedToLicensingFees	1867417
	llti	Licensing Fees LicensingFees	2000000
	llti	Employee Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Forfeitures In Period Weighted Average Exercise Price EmployeeShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndWarrantsForfeituresInPeriodWeightedAverageExercisePrice	0
	llti	Payroll Expenses PayrollExpenses	290139
	llti	Employee Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Exercises In Period Weighted Average Exercise Price EmployeeShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndWarrantsExercisesInPeriodWeightedAverageExercisePrice	0
	llti	Fair Value Of Options Issued In Exchange For Services FairValueOfOptionsIssuedInExchangeForServices	34093
	llti	Conversion Of Warrants To Common Stock ConversionOfWarrantsToCommonStock	40000
	llti	Noncash Exercise Of Common Stock Warrants NoncashExerciseOfCommonStockWarrants	2
	llti	Forgiveness Of Debt Related Party Treated As Additional Paid In Capital ForgivenessOfDebtRelatedPartyTreatedAsAdditionalPaidInCapital	175287
	llti	Convertible Preferred Stock Issued During Period Value New Issues ConvertiblePreferredStockIssuedDuringPeriodValueNewIssues	1278501
	llti	Employee Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Grants In Period Weighted Average Exercise Price EmployeeShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndWarrantsGrantsInPeriodWeightedAverageExercisePrice	0
	llti	Amortization Of Deferred Compensation AmortizationOfDeferredCompensation	6198
	llti	Number Of Financial Institutions At Which Cash And Cash Equivalent Are Held NumberOfFinancialInstitutionsAtWhichCashAndCashEquivalentAreHeld	1	Institution
	llti	Stock Issued During Period Value Conversion Of Convertible Warrants StockIssuedDuringPeriodValueConversionOfConvertibleWarrants	40000
	llti	Gain Loss On Conversion Of Convertible Notes GainLossOnConversionOfConvertibleNotes	351918
	llti	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Conversion Of Notes Payable FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueConversionOfNotesPayable	33943
	llti	Stock Issued During Period Value Conversion Of Deferred Compensation StockIssuedDuringPeriodValueConversionOfDeferredCompensation	35000
	llti	Stock Issued During Period Value Conversion Of Accrued Expenses StockIssuedDuringPeriodValueConversionOfAccruedExpenses	6500000
	llti	Adjustment To Additional Paid In Capital Amortization Of Deferred Compensation AdjustmentToAdditionalPaidInCapitalAmortizationOfDeferredCompensation	6198
	llti	Gains Losses On Conversion Of Debt GainsLossesOnConversionOfDebt	351918
	llti	Conversion For Deferred Compensation To Preferred Stock ConversionForDeferredCompensationToPreferredStock	35000
	llti	Conversion Of Convertible Notes Payable And Accrued Interest To Preferred Stock ConversionOfConvertibleNotesPayableAndAccruedInterestToPreferredStock	136813
	llti	Conversion For Accrued License Fees To Preferred Stock ConversionForAccruedLicenseFeesToPreferredStock	6500000
	llti	Conversion For Deferred Compensation To Common Stock ConversionForDeferredCompensationToCommonStock	446250
	llti	Forgiveness Of Stockholder Compensation ForgivenessOfStockholderCompensation	175285
	llti	Debt Conversion Converted Preferred Stock Amount DebtConversionConvertedPreferredStockAmount	136813
	llti	Stock Issued During Period Value Conversion Of Convertible Preferred Stock Warrants StockIssuedDuringPeriodValueConversionOfConvertiblePreferredStockWarrants	1867417
CY2014	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	494939
CY2014	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Expense UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0
CY2014Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.96
CY2014Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2018618	shares
CY2014Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3807068	shares
CY2014Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3553408	shares
CY2014Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.03
CY2014Q2	us-gaap	Net Income Loss NetIncomeLoss	3651844
CY2014Q2	us-gaap	Sales Revenue Net SalesRevenueNet	65148
CY2014Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-879607
CY2014Q2	us-gaap	Gross Profit GrossProfit	10708
CY2014Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	4531451
CY2014Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-82000
CY2014Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	65148
CY2014Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
CY2014Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	73895
CY2014Q2	us-gaap	Operating Expenses OperatingExpenses	890315
CY2014Q2	us-gaap	Interest Expense InterestExpense	13121
CY2014Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	83887
CY2014Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	276108
CY2014Q2	us-gaap	Professional Fees ProfessionalFees	177872
CY2014Q2	us-gaap	Cost Of Goods Sold CostOfGoodsSold	54440
CY2014Q2	us-gaap	Depreciation Depreciation	17313
CY2014Q2	llti	Change In Fair Value Of Warrants ChangeInFairValueOfWarrants	3726572
CY2014Q2	llti	Payroll Expenses PayrollExpenses	278553
CY2014Q2	llti	Change In Fair Value Of Embedded Derivative Liability ChangeInFairValueOfEmbeddedDerivativeLiability	-900000
CY2015Q2	us-gaap	Professional Fees ProfessionalFees	217322
CY2015Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.24
CY2015Q2	us-gaap	Unrecognized Tax Benefits Period Increase Decrease UnrecognizedTaxBenefitsPeriodIncreaseDecrease	0
CY2015Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3934451	shares
CY2015Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3934451	shares
CY2015Q2	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	2353	shares
CY2015Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.24
CY2015Q2	us-gaap	Net Income Loss NetIncomeLoss	-956326
CY2015Q2	us-gaap	Sales Revenue Net SalesRevenueNet	68375
CY2015Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-2400709
CY2015Q2	us-gaap	Gross Profit GrossProfit	32296
CY2015Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1444383
CY2015Q2	us-gaap	Royalty Revenue RoyaltyRevenue	6250
CY2015Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	351918
CY2015Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	62125
CY2015Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
CY2015Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	319
CY2015Q2	us-gaap	Operating Expenses OperatingExpenses	2433005
CY2015Q2	us-gaap	Interest Expense InterestExpense	24904
CY2015Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2016000
CY2015Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	80129
CY2015Q2	us-gaap	Cost Of Goods Sold CostOfGoodsSold	36079
CY2015Q2	us-gaap	Depreciation Depreciation	17313
CY2015Q2	us-gaap	Restricted Stock Expense RestrictedStockExpense	6198
CY2015Q2	llti	Change In Fair Value Of Warrants ChangeInFairValueOfWarrants	1117369
CY2015Q2	llti	Payroll Expenses PayrollExpenses	119235

Files In Submission

Name	View Source	Status
0001193125-15-296110-index-headers.html	Edgar Link	pending
0001193125-15-296110-index.html	Edgar Link	pending
0001193125-15-296110.txt	Edgar Link	pending
0001193125-15-296110-xbrl.zip	Edgar Link	pending
d21126d10q.htm	Edgar Link	pending
d21126dex31.htm	Edgar Link	pending
d21126dex311.htm	Edgar Link	pending
d21126dex312.htm	Edgar Link	pending
d21126dex32.htm	Edgar Link	pending
d21126dex321.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
g21126ex3_1pg02.jpg	Edgar Link	pending
g21126ex3_1pg03.jpg	Edgar Link	pending
g21126ex3_1pg04.jpg	Edgar Link	pending
g21126ex3_1pg05.jpg	Edgar Link	pending
g21126ex3_1pg06.jpg	Edgar Link	pending
g21126ex3_1pg07.jpg	Edgar Link	pending
g21126ex3_1pg08.jpg	Edgar Link	pending
g21126ex3_1pg09.jpg	Edgar Link	pending
g21126pic001.jpg	Edgar Link	pending
llti-20150630.xml	Edgar Link	completed
llti-20150630.xsd	Edgar Link	pending
llti-20150630_cal.xml	Edgar Link	unprocessable
llti-20150630_def.xml	Edgar Link	unprocessable
llti-20150630_lab.xml	Edgar Link	unprocessable
llti-20150630_pre.xml	Edgar Link	unprocessable
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R37.htm	Edgar Link	pending
R38.htm	Edgar Link	pending
R39.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
R41.htm	Edgar Link	pending
R42.htm	Edgar Link	pending
R43.htm	Edgar Link	pending
R44.htm	Edgar Link	pending
R45.htm	Edgar Link	pending
R46.htm	Edgar Link	pending
R47.htm	Edgar Link	pending
R48.htm	Edgar Link	pending
R49.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R50.htm	Edgar Link	pending
R51.htm	Edgar Link	pending
R52.htm	Edgar Link	pending
R53.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$VRME
VerifyMe Inc Stock $vrme

2015 Q2 Form 10-Q Financial Statement

#000119312515296110 Filed on August 19, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VRME VerifyMe Inc Stock $vrme

2015 Q2 Form 10-Q Financial Statement

#000119312515296110 Filed on August 19, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VRME
VerifyMe Inc Stock $vrme