February 23, 1993
A big shareholder of Veritec Inc., the Chatsworth marketer of identification symbols similar to bar codes, plans to seek management changes at Veritec because he is unhappy with the company's performance. Thomas Hurner, a Minnesota resident who has 1.25 million shares of Veritec's common stock, or a 6.6% stake, was named a company director in January.
February 9, 1993
Veritec Inc., the Chatsworth marketer of machine-readable identification systems, said it has signed a royalty agreement with an unidentified Asian country that will result in $4.25 million to Veritec over four years. Robert Anselmo, president and chief executive officer, said that country plans to use Veritec's symbol to mark and identify components in manufacturing processes for use in industries that are unable to use the traditional bar code.
August 25, 1992
Veritec Inc., a Chatsworth marketer of a matrix identification symbol, said it has filed a patent infringement lawsuit against a Clearwater, Fla., company headed by the brother-in-law of Veritec's president and CEO. The Florida concern, International Data Matrix, is headed by Dennis Priddy, brother-in-law of Robert Anselmo, Veritec's CEO. In previous interviews, Priddy has denied copying Veritec's product.
August 4, 1992
Veritec Inc. in Chatsworth said it has acquired an anti-counterfeiting identification system from Optical Scanners Ltd. The purchase price included $25,000 cash, 50,000 shares of Veritec Series B convertible preferred shares priced at $1 a share and warrants to purchase 150,000 shares of Veritec common stock at $1 a share. Optical Scanners will also receive a royalty of 5%, up to $150,000.
May 5, 1992 |
For the last 10 years, Robert Anselmo has been peddling a checkerboard symbol that he swears is better than the bar code, the familiar black-and-white stripes printed on books, candy bars and other consumer items that enable retailers to electronically ring up sales. "The bar code is wimpy," said the 55-year-old president of Veritec, a Chatsworth firm that markets Vericode, a machine-readable matrix code. Vericode can pack more information in small places, he said.