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Veritec Company

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BUSINESS
July 5, 1994
Chatsworth-based Veritec Inc. said its board has authorized three new series of preferred stock in a move designed to help the company restructure its finances by exchanging preferred stock for debt. The company had hoped to restructure debt by offering new shares of common stock, but Jack E. Dahl, the company's chief financial officer, said Veritec is unsure that it can legally offer new common stock.
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BUSINESS
July 5, 1994
Chatsworth-based Veritec Inc. said its board has authorized three new series of preferred stock in a move designed to help the company restructure its finances by exchanging preferred stock for debt. The company had hoped to restructure debt by offering new shares of common stock, but Jack E. Dahl, the company's chief financial officer, said Veritec is unsure that it can legally offer new common stock.
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BUSINESS
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.
BUSINESS
May 3, 1994
Veritec Inc., the Chatsworth maker of product-marking codes similar to bar codes, has named New York attorney W. M. Starosolsky chairman and acting chief executive. Also, Veritec said it has declared a 1-for-10 reverse stock split--raising its price per share by a factor of 10, while decreasing the number of shares outstanding by the same factor. The company said the reverse stock split is designed to attract more investors. The company is still seeking a permanent chief executive.
BUSINESS
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
May 5, 1992 | DON LEE, TIMES STAFF WRITER
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.
BUSINESS
April 19, 1994
Veritec Inc., the Chatsworth maker of product marking codes similar to bar codes, said it will receive an undisclosed amount of capital in a financing package arranged by New York attorney W. M. Starosolsky . Starosolsky has also been named to the board of directors. The company declined to say whether it will receive cash or loans. The capital infusion is to help maintain the struggling company until Starosolsky can arrange long-term financing.
BUSINESS
May 3, 1994
Veritec Inc., the Chatsworth maker of product-marking codes similar to bar codes, has named New York attorney W. M. Starosolsky chairman and acting chief executive. Also, Veritec said it has declared a 1-for-10 reverse stock split--raising its price per share by a factor of 10, while decreasing the number of shares outstanding by the same factor. The company said the reverse stock split is designed to attract more investors. The company is still seeking a permanent chief executive.
BUSINESS
April 19, 1994
Veritec Inc., the Chatsworth maker of product marking codes similar to bar codes, said it will receive an undisclosed amount of capital in a financing package arranged by New York attorney W. M. Starosolsky . Starosolsky has also been named to the board of directors. The company declined to say whether it will receive cash or loans. The capital infusion is to help maintain the struggling company until Starosolsky can arrange long-term financing.
BUSINESS
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
May 5, 1992 | DON LEE, TIMES STAFF WRITER
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.
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