Veritec Awarded New Patent From Republic of South Africa - Improving Highly Secure Two-dimensional Bar Codes

GOLDEN VALLEY, Minn., Nov. 4, 2011 /PRNewswire/ -- Veritec, Inc. (OTC –VRTC) today announced that it has been awarded a patent from the Republic of South Africa Patent Office.  This patent improves the Veritec VeriCode® and VSCode® two-dimensional Matrix Symbology codes by changing the code structure to more accurately locate cells and adding an algorithm that better corrects for image skew. These improvements will double the accuracy of imaging and decoding marginal codes.

Republic of South Africa Patent No.: WO 2009/097137 A1 – TWO-DIMENSIONAL SYMBOL AND METHOD FOR READING SAME. Veritec's patent demonstrates the ability to improve the quality of reading Veritec's proprietary two-dimensional codes in conditions where other two-dimensional codes would be difficult or impossible to read. Veritec's proprietary two-dimensional codes, VeriCode® and VSCode® hold more data using less space, up to 4,450 bytes of data, have adjustable error correction, read in any rotation with up to 60 degrees of skew, and are highly secure.

Tom Look, Chief Technology Officer of Veritec states, "For applications that need a robust, highly secured two-dimensional code, there are no better offerings in the market than the VeriCode® and VSCode® available from Veritec."

Veritec's two-dimensional codes are being used for product inventory, product secure identification and product manufacturing automation, on mobile phones and financial cards to conduct secure financial transactions, as marketing tools on mobile phones for coupons, ticketing, and gift cards, for Biometric identification cards and many more practical and highly secure projects. Veritec knows the two-dimensional code market and has the resources to develop unique businesses with partners around the world that benefit from Veritec expertise.

Van Tran, Executive Chair of Veritec states, "We are all proud at Veritec to add this important patent to the portfolio of Intellectual Property held by Veritec. Veritec continues to aggressively build our Company surrounded by our two dimensional bar code technologies and mobile communications that will be the corner stone of secure identification and financial transactions while reducing complexity and costs." Van Tran further states, "We are presently working with several strategic, in country partners, to expand our market to that great region of Africa."

ABOUT VERITEC, INC.

Founded in 1982, Veritec offers a patented line of encoding and decoding software products that utilize the 2-D Matrix Symbology™, which allows users to create, apply, store, or transmit unique identifiers directly on the products or to an electronic device in the form of a coded matrix symbol, which enables automated manufacturing control, as well as identification, tracking, and collection of data via cameras, mobile phones, readers and scanners. The collected data can then be stored in the 2-D barcode available for contemporaneous verification or other user-definable purposes. Veritec's 2-D Matrix Symbologies, the VeriCode® and VSCodes®, with its incredible robustness, security features, and large data storage capacity, have proven to be the technology of choice for products tracking, identification, and verification in many automated industries. Veritec technologies are also applicable in the Secure Bio-ID Cards to provide positive identification via biometric markers such as fingerprints, or pictures. Veritec's Licensed Mobile Banking Software products have recently been introduced to the banking industries via Stored-Value Debit Cards. In the mobile phone industry, Veritec has patented the "PhoneCodes™" products that allow an individual using the Internet or mobile phones to purchase, send, or receive a gift certificate, ticket, coupon, receipt or transfer money.

Further details about Veritec's technologies and its multiple applications can be found on Veritec, Inc.'s website at www.veritecinc.com; www.vtfs.com; www.blinxcard.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason unless otherwise required to do so by SEC Regulations.

Contact:
Van Tran (CEO)
763-253-2670 Tel.
[email protected]

SOURCE Veritec, Inc.