Biometric security firm VerifyMe has reported that its net loss was $385,000 versus $1.8 million loss in Q3 2016, or a 78% improvement. Q3 operating expenses were also lower by 15.3% compared to same quarter last yearThe company also entered into a 5-year contract with HP Indigo in September 2017, which will have its worldwide machines loaded with VerifyMe's RainbowSecure inks.”I am pleased with the several accomplishments made during the quarter and the progress since my appointment only a few months ago,” commented Patrick White, President and Chief Executive Officer of VerifyMe. “During the quarter we were able to secure a 5-year contract with HP Indigo to include our RainbowSecure ink technologies. This will allow HP Indigo's 4,500+ customers to seamlessly incorporate authentication measures on their various printed items, a major one being their packaging. We expect to see initial revenues from the HP relationship in early 2018 and build from there. I can't stress enough how significant this contract is for our company – not just from the financial perspective, but also the credibility and opportunities it has and will create.”White continued, “While the company recorded minimal revenues in the quarter, I'd like to highlight that we implemented tight expense controls and had a lower loss compared to last year. Going forward our goal is to keep the company as lean as possible and have minimal cash burn rates. We plan on remaining this way by engaging in contracts that leverage the company's technologies and patent portfolio and structure licensing or royalty deals, which will yield high gross margins.”White concluded, “While we still have lots more to do, we are off to a great start and a lot has been accomplished in a short amount of time. The HP Indigo contract completion has the company now positioned for profitability. I am also pleased with our progress in our digital biometric development and believe the Company has a viable future ahead in the biometric “people verification” segment. We are in the midst of filling our sales pipeline with deal flow, which is at various stages – both on the physical and digital/biometrics sides of the business.”Total revenue for the third quarter, which ended September 30, 2017, was $392 compared to $0 in the third quarter of fiscal 2016. Revenues in the quarter were minimal, but primarily driven by some legacy relationships. Revenues should ramp up in 2018.Total operating expenses during the third quarter was $382,158, a decrease of 15.3% from $451,234 in the same quarter one year ago. Included in these expenses was share-based compensation (non-cash expense) of $101,229 and $134,127, for third quarter of 2017 and 2016, respectively. The lower expenses were from a decline in payroll expenses, as the company focused on retaining a new management team to focus more on sales and marketing efforts. The company will continue to maintain tight expense controls and low cash burn levels.Net loss attributable to common shareholders was $(0.4) million, or $(0.01) per basic and diluted share, for the third quarter of fiscal 2017, compared to $(1.8) million, or $(0.24) per basic and diluted share, in the year ago third quarter.Cash balance at September 30, 2017 was $0.8 million dollars compared to $0.0 million at the end of December 31, 2016.