Latest Newsletter Shareholders Received, from Stuart Goodin:
To all VerifySmart shareholders,
Management would like to apologize for the lack of communication with the shareholders; circumstances warranted that it was in the company’s best interest to keep software negotiations private in order to avoid litigation with the previous management.
In November 2009 Verify was about to commence beta testing with a Canadian Credit Union. The results of this test would have then been presented to a number of large corporations in the financial industry. Need this verified However, on December 4 2009, previous management of VerifySmart, removed the
technology from the company’s office, included was the technology source code and all system documentation. The website was brought down as well and the domain name made inaccessible. If you wish to read further regarding the incident you can visit
otcbb.com and click on ‘filings’ where you can review the reports (8-K’s) from December 4, December 31, 2009 and February 10, 2010.
In the month of August 2010, through an intermediary, the technology was returned.
However it is not in sync with the database. As a result we need to commence an in depth examination of technology to one, determine if the software has been tampered with and two, to get the database and code synchronized. As a result, the cost to bring the technology up to the standard it was in previously is taking a considerable amount of time and funds. The website will be online once it’s determined that the technology is ready
for beta testing. We may be able to give shareholders access to the test website very soon.
It has been a slow process and funding requirements have been stretched. We have had to
prioritize the funding received thus far in order of importance. Of paramount importance are the global patent applications. Most of the funding has been directed to ensure those
applications are up to date and they are. The patents will go a long way in protecting the Intellectual Property as well as adding a valuable asset to the company and shareholders.
With regards to the shareholder certificates, the documentation is with our corporate attorney. Unfortunately, due to funding constraints, we are in arrears with our legal counsel and until payment is made it is not possible to have the share certificates issued.
At this time we must prioritize where funds will be best utilized. Shareholders of record will be notified of the positions they hold with the company and any discrepancies
resolved.
The company is actively trying to raise additional capital through private funding as well as through a partner network.
Once we receive the necessary funding, the company will then have the ability to hire the required IT personnel. Additional personnel will be required as the company moves
forward.
Market Data 
Markets 
AI
