On January 19, 2024, Joseph K. Raymond notified the Board of Directors of Nocopi Technologies, Inc. of his decision to resign from the company's Board, and all committees thereof, effective as of January 22, 2024. Mr. Raymond's decision to resign was not due to any disagreement with the company on any matter, or relating to its operations, policies, or practices. The Board also designated (i) Michael S. Liebowitz to join and serve as chair of the Board's Audit Committee and (ii) Jacqueline J. Goldman and Matthew C. Winger to join the Board's Audit Committee.
Nocopi Technologies, Inc. develops and markets specialty reactive inks for multiple applications across various industries. Its specialty inks are used by its customers for a range of purposes, from bringing entertainment products to life with a variety of color activations to providing document and brand authentication for security purposes aimed at reducing losses caused by fraudulent document reproduction or by product counterfeiting and/or diversion. Its primary markets are the large educational and toy products industry and the document and product authentication industry. It has patent protection on substantially all of its security inks, including its Rub & Reveal system and its Rub-It & Color technology. Across the Entertainment and Toy Products category, it markets its Rub-it & Color technology, which consists of specialty inks that are produced in a variety of colors and can be revealed by rubbing with a fingernail or other firm object, such as a plastic pen cap.