Digimarc Says New CEO Assumes Role

MT Newswires Live07-07

Digimarc (DMRC) said late Monday Paul Carreiro has assumed the role of chief executive officer and president, effective today, following its previously announced leadership transition.

Also, the company said in a regulatory filing it plans to secure additional capital through increased revenue, partnerships, and equity financing to sustain planned business operations.

The company said it believes its cash and marketable securities of $9.0 million at May 31, will not be sufficient to finance its operations for at least 12 months from the filing, unless it is able to improve revenues, raise additional capital.

Under ASC 205-40, substantial doubt exists about the company's ability to continue as a going concern, the filing shows.

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