Consolidated revenue for the year ended December 31, 2025, decreased by 32% to $16,398 thousand from $24,207 thousand in 2024. The Precision Logistics segment's revenue decline is primarily due to the termination of the prior carrier partner agreement for ProActive services, effective September 24, 2025. The Authentication segment's revenue decreased as the company is not actively pursuing new business in this area, focusing instead on servicing existing customers. Net loss increased to $4,905 thousand in 2025 from $3,824 thousand in 2024, resulting in a loss per share of $0.39 compared to $0.37. The company recorded significant goodwill and intangible asset impairment charges totaling $3,850 thousand in 2025, primarily related to the Precision Logistics segment due to the carrier partner change. A merger agreement with Open World Ltd. was entered into on February 11, 2026, where VerifyMe's pre-Closing stockholders are expected to collectively retain approximately 10% of the post-Closing aggregate common stock, with Open World securityholders receiving approximately 90%. The At-The-Market (ATM) Sales Agreement with Roth Capital Partners, LLC, under which 628,432 shares were sold for $483 thousand net proceeds in 2025, was terminated on February 16, 2026. VerifyMe loaned ZenCredit Ventures, LLC $2 million on August 11, 2025, at a 16% annual interest rate, with the promissory note maturing on May 11, 2026. The company's subsidiary, PeriShip Global LLC, terminated its Connecticut office lease effective February 15, 2026.