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Looked over the 10-Q but haven't listened to the call yet. Revenue jumped a little, which was good, though not surprising to see, given the recent trajectory.
With the pivot towards belt-tightening vis a vis sales force cuts, a sprint towards break-even this year is definitely in the cards. I'm wondering if they might be able to rollout Enclave (post-beta) to enterprise customers? Anyone have thoughts on that possibility?
On the stock side, there are simply no sellers under .18 cents imo. DD on your own, of course.
If you were listening on speaker, you had to pick up headset/turn off speaker to chime in. They said that
Great call. Good results for the quarter very positive for the future
I tried chiming in for question but was not recognized. Wanted to know how many companies we have under contract and how many more you expect to sign in the near future. Also, are you looking for larger companies that would bring in larger contracts/revenue?
Thank you everyone who joined the earnings call today!
First Quarter FY 2024 Highlights
? Revenue of $1.7 million; grew 12.3% versus the first quarter of FY 2023 and 4.6% sequentially.
? Gross margin of 48.7% versus 56.0% in the first quarter of FY 2023 and 51.6% for the fourth quarter of FY 2023.
? Operating expenses decreased $368,000 or 25.0% compared to the first quarter of FY 2023 and $68,000 or 5.8% sequentially.
? Net loss of $246,000 or $0.00 per share.
? Trailing twelve-month revenue reached $6.8 million as of December 31, 2023.
? Revenue retention was 72.7% for the trailing twelve months ended December 31, 2023.
? Cash was $819,000 as of December 31, 2023; cash used in operations during the quarter of $184,000.
SideChannel Reports Continued Quarterly Revenue Growth
Press Release | 02/07/2024
Financial results conference call on Wednesday, February 7 @ 4:30 P.M. EST
WORCESTER, MA / ACCESSWIRE / February 7, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("SideChannel"), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced its financial results for the three months ended December 31, 2023.
First Quarter FY 2024 Highlights
Revenue of $1.7 million; grew 12.3% versus the first quarter of FY 2023 and 4.6% sequentially.
Gross margin of 48.7% versus 56.0% in the first quarter of FY 2023 and 51.6% for the fourth quarter of FY 2023.
Operating expenses decreased $368,000 or 25.0% compared to the first quarter of FY 2023 and $68,000 or 5.8% sequentially.
Net loss of $246,000 or $0.00 per share.
Trailing twelve-month revenue reached $6.8 million as of December 31, 2023.
Revenue retention was 72.7% for the trailing twelve months ended December 31, 2023.
Cash was $819,000 as of December 31, 2023; cash used in operations during the quarter of $184,000.
Management Comments
Commenting on the fiscal first quarter ended December 31, 2023, Brian Haugli, President and Chief Executive Officer of SideChannel said, "In May 2023, we announced that our primary focus was to pursue positive cash flow from operations, and I am pleased to see our continued progress toward that goal. If the current trends continue, we expect to achieve this objective during this fiscal year. When we transition from burning cash to generating cash on a quarterly basis, I anticipate that we will renew our investments in marketing and selling activities."
"We still consider Enclave to be in a beta phase with managed, incremental adoption by select customers. Our beta program is providing valuable feedback and insight that we intend to use in our go-to-market strategy for Enclave, which combines critical risk management tools supported by a simple, efficient management console." said Haugli.
SideChannel will host a conference call on February 7 at 4:30 P.M. Eastern Time to discuss its first quarter results and provide an update on the Company's initiatives.
FIRST QUARTER CALL INFORMATION
Date: Wednesday, February 7, 2024 at 4:30 P.M. Eastern Standard Time.
Dial In: Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 235453
A webcast of the call will also be available: https://www.webcaster4.com/Webcast/Page/2071/49677
Participants may register in advance for the call using the webcast link.
The conference call will include management remarks and a live question and answer session. The conference call host will provide participants with instructions for joining the queue to asks questions at the conclusion of management remarks. Questions may also be submitted prior to the meeting using ir@sidechannel.com.
First Quarter 2024 Review
The first quarter Form 10-Q is accessible in its entirety at https://investors.sidechannel.com/sec-filings.
In thousands, except shares and per share data
Three Months Ended
Change
Change
12/31/2023
12/31/2022
$
%
9/30/2023
$
%
Revenue
$1,736
$1,546
$190
12.3%
$1,659
$77
4.6%
Gross profit
845
865
(20)
-2.3%
856
(11)
-1.3%
Gross margin
48.7%
56.0%
51.6%
Operating expenses
1,104
1,472
(368)
-25.0%
1,172
(68)
-5.8%
Impairment Charges
-
-
-
4,940
(4,940)
-100%
Operating loss (259)
(607)
348
(5,256)
4,997
Net loss (246)
(602)
356
(4,870)
4,624
Net loss per common share
$(0.00)
$(0.00)
$(0.00)
$(0.02)
$0.02
Weighted average common shares outstanding - basic and diluted
214,578,923
148,733,860
213,574,059
As of
December 31, 2023 As of
September 30, 2023
Cash
$819 $1,053
Current Assets 2,145
2,448
Current Liabilities 760 954
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of SideChannel's future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes", "hopes", "expects", "intends", "plans", "anticipates", "potential", "could", "should" or "may", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
SOURCE: SideChannel
https://finance.yahoo.com/news/sidechannel-inc-announces-2024-schedule-213000042.html
First Quarter Conference Call & webcast on February 7, 2024 at 4:30 pm ET WORCESTER, MA / ACCESSWIRE / February 1, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("Side...
SideChannel Announces Key Promotions to Fuel Growth and Success
Tuesday, 30 January 2024 08:30
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SideChannel
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Topic:
Company Update
WORCESTER, MA / ACCESSWIRE / January 30, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("SideChannel"), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced the promotion of three of its outstanding team members, further strengthening its leadership team in a strategic move to bolster the company's growth and success.
Dele Owoye has been promoted to Director of Engineering. In his new role, Dele will oversee the engineering team, driving innovation and excellence in developing robust cybersecurity solutions. Dele has been instrumental in numerous projects at SideChannel and is known for his exceptional technical expertise and leadership skills.
Matt Klein and Eric Gauthier have both been promoted to Vice President of Client Delivery. Matt and Eric will be responsible for ensuring the seamless delivery of services to SideChannel's clients, maintaining the high standards of customer satisfaction that the company is known for. Their extensive experience and deep understanding of client needs make them the perfect fit for these critical roles.
Brian Haugli, CEO of SideChannel, expressed his enthusiasm for these promotions, stating, "The growth and success of SideChannel are driven by the talent and dedication of our team. Dele, Matt, and Eric have demonstrated exceptional skill and commitment in their respective fields. Their promotions are not only a testament to their individual achievements but also pivotal to our strategic direction. I am confident that in their new roles, they will play a crucial role in driving SideChannel's growth and in helping us achieve new heights of success."
These promotions come at a time when SideChannel is expanding its reach and influence in the cybersecurity domain, emphasizing the company's commitment to leadership excellence and client satisfaction.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of SideChannel's future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes", "hopes", "expects", "intends", "plans", "anticipates", "potential", "could", "should" or "may", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
SOURCE: SideChannel
"I am confident that in their new roles, they will play a crucial role in driving SideChannel’s growth and in helping us achieve new heights of success.”
Form 8-K - Current report
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 30, 2024
?
SideChannel, Inc.
(Exact name of registrant as specified in its charter)
Delaware 000-28745 86-0837077(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)
146 Main Street, Suite 405, Worcester, MA 01608
(Address of principal executive offices) (Zip Code)
(508) 925-0114
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
?Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ?Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ?Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ?Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registeredCommon Stock, par value $0.001 per share SDCH OTC Markets Group (OTCQB)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 7.01. Regulation FD Disclosure.
On January 30, 2024, SideChannel, Inc. (the “Company”) issued a press release announcing the promotion of three employees to security service delivery leadership positions.
The information included in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Financial Statements and Exhibits
(a) Exhibits.
Exhibit No. Description99.1 Press Release issued by the registrant on January 30, 2024.104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SideChannel, Inc. Date: January 30, 2024By:/s/ Brian Haugli Name:Brian Haugli Title:Chief Executive Officer
Exhibit 99.1
FOR IMMEDIATE RELEASE
SideChannel Announces Key Promotions to Fuel Growth and Success
WORCESTER, MA / ACCESSWIRE / January 30, 2024 / SideChannel, Inc. (OTCQB:SDCH) (“SideChannel”), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced the promotion of three of its outstanding team members, further strengthening its leadership team in a strategic move to bolster the company’s growth and success.
Dele Owoye has been promoted to Director of Engineering. In his new role, Dele will oversee the engineering team, driving innovation and excellence in developing robust cybersecurity solutions. Dele has been instrumental in numerous projects at SideChannel and is known for his exceptional technical expertise and leadership skills.
Matt Klein and Eric Gauthier have both been promoted to Vice President of Client Delivery. Matt and Eric will be responsible for ensuring the seamless delivery of services to SideChannel’s clients, maintaining the high standards of customer satisfaction that the company is known for. Their extensive experience and deep understanding of client needs make them the perfect fit for these critical roles.
Brian Haugli, CEO of SideChannel, expressed his enthusiasm for these promotions, stating, “The growth and success of SideChannel are driven by the talent and dedication of our team. Dele, Matt, and Eric have demonstrated exceptional skill and commitment in their respective fields. Their promotions are not only a testament to their individual achievements but also pivotal to our strategic direction. I am confident that in their new roles, they will play a crucial role in driving SideChannel’s growth and in helping us achieve new heights of success.”
These promotions come at a time when SideChannel is expanding its reach and influence in the cybersecurity domain, emphasizing the company’s commitment to leadership excellence and client satisfaction.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of SideChannel’s future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes”, “hopes”, “expects”, “intends”, “plans”, “anticipates”, “potential”, “could”, “should” or “may”, and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
Cover
Jan. 30, 2024
Cover [Abstract] Document Type8-KAmendment FlagfalseDocument Period End DateJan. 30, 2024Entity File Number000-28745Entity Registrant NameSideChannel, Inc.Entity Central Index Key0001022505Entity Tax Identification Number86-0837077Entity Incorporation, State or Country CodeDEEntity Address, Address Line One146 Main StreetEntity Address, Address Line TwoSuite 405Entity Address, City or TownWorcesterEntity Address, State or ProvinceMAEntity Address, Postal Zip Code01608City Area Code(508)Local Phone Number925-0114Written CommunicationsfalseSoliciting MaterialfalsePre-commencement Tender OfferfalsePre-commencement Issuer Tender OfferfalseTitle of 12(b) SecurityCommon Stock, par value $0.001 per shareTrading SymbolSDCHEntity Emerging Growth Companyfalse
All we are is dust in the wind.
The past is the past. There is no sense living in the past. My mistakes are my mistakes. I'm living with those mistakes. I don't care who was right or who was wrong. I really still don't care who is right or wrong today. For me, I'm happy to have the amount of shares that I have and where I have successfully averaged myself to. I am also happy that we are a TOTALLY DIFFERENT COMPANY than before and that my shares of nsct/clok did not end up going defunct. But, the past is the past. I'm here still for the future.
You were 100% correct! I wish I would have listened
I have to point out that I have 100's of posts here warning about exactly that! Apparently you are illiterate?
WTF?
☠️
You clearly got bent over like I did with Paulsons lies. That being said, Brian has nothing to do with our stupidity. I’m pissed too, but our anger is directed in the wrong direction. Like I said before, we are the dip shits on the other end of the line on the “pink sheets” part of Wolf of Wallstreet. You know, where they’re selling snake oil out of a garage to hard working people like us..
Brian – – thank you for setting the record straight.
Let's establish—and agree—that decisions made by previous management are not Brian’s responsibility.
SideChannel is not some opaque Panamanian shell company hiding shady financial activity, Its an early stage, revenue producing company with a promising future.
Most of us on this board admire Brian‘s feisty, competitive nature, and I’m thrilled to be a shareholder.
Brian,
In my opinion the revenue comes with a high cost of doing business As an example the President of the United states pay is $400,000 I just looked on yahoo to be accurate yours is $353,000 very difficult on a Penny stock balance sheet. Obviously I am sure you have figured out that I was never for the merger. If SDCH goes bankrupt it will smart and it will provide a tax loss but my life style will not change. I suspect that others are very scared because they may have over invested. I believe the merger was a much better deal for you than it was for Clok share holders. I would be happy to discuss why I believe that if you desire to do so. I do not agree that low trading volume accounts for the loss in share price its been 18 months since the merger. You are trying very hard to make excuses but I do not believe in them.
What do You expect the revenue to be at the end of the year in Dollars not in percentages as they can be deceiving for a penny stock?
All the above are my opinions and hard truths.
Concerned Investor,
The share price on the date of the merger on July 1 was $0.10. Looks like there was a lot of early hype trading in July that peaked around $0.18.
Having access to the shareholder lists for the company and cross referencing when you got into the stock when it was NSCT/CLOK gives me some insight on your "losses". SDCH has been thinly traded since the merger and is indicative of being on the OTC with a formerly poorly performing company (CLOK) that had no revenue. There has not been much volume with most days in 2022 not going above 30k volume (or around $3000). These are day trading retail investors with small positions. Most "older share holders" are larger positions that came in back in 2018 and 2021 through Paulson. I'm not sure how we qualify $6.5m as small, but we ARE a micro cap stock, so it seems appropriate. We're trading at just above 1x to our revenue. I obviously see our value as higher. If you want big, invest in Microsoft.
Checking my notes, posts, and talks... I've never said I don't care about shareholders. There's a difference between caring and being realistic about what you've previously invested in.
My message has been clear since I met this board and took us public. We're SideChannel. We have a plan, a product, and services that will enable us to grow the company and provide shareholder value over the long term.
Brian,
First off thank you for responding to my post although most of it was not responded to. Youre statement about my losses is not correct. In July of 2022 the stock traded at a high of .18 cents now it is trading at .04 cents a loss of 77% percent That by most peoples judgment is a massive loss . So you cannot blame all losses on NSCT and Clok.Yes you did bring a product producing a very small amount of revenue.
You stated “I'm not here to make up in any way for what NSCT or CLOK didn't do for you. “. Are You stating that you dont care about the older share holders investment? I have seen a lot of mergers before but do not believe I ever heard that said.
Concerned Investor
Obvious typo on the last line for the year. Should read:
SDCH 2023: $6,572,000
Brian......AWESOME POST.
As I've said in each investor call, SideChannel is a new company, and we're looking at what's happened from July 2022 an onward. SideChannel saw value in Enclave and the public company structure. For that, SideChannel acquired/merged our revenue generating, debt free and profitable company with CipherLoc.
You're loses were from NSCT and CLOK, not SDCH. Both had zero revenue and no growth from what I saw. People need to accept their past decisions and losses in those previous companies. I'm not here to make up in any way for what NSCT or CLOK didn't do for you.
Revenue by year:
CLOC 2019: $0
CLOC 2020: $0
CLOC 2021: $0
CLOC 2022: $0
SDCH 2024: $6,572,000
Let's everyone put on their big boy pants.
Brian,
I surely am not laughing. My losses in SDCH are close to 90 % . How long do you expect it will take for the share price to recover my investment? Do really intend to RS and lose another big chunk or all of my remaining 10 percent? In my opinion if you put in effect another RS what we will be is a world leader in reverse splits. Do you not believe that another RS can have financial consequences? Are you aware TradeStation brokerage has blacklisted SDCH? Due to the way a stock becomes blacklisted, after a RS more brokerages may follow.
All the above are just my questions, opinions and hard truths.
Concerned investor
Brian, As always, we appreciate your candor and honesty here on this public forum.
It has to be difficult to read some of the posts here while knowing the truth and also knowing the future plans for the company. Obviously, not being able to share those plans beforehand has to be a little bit of a bummer.
But we ALL appreciate you stopping by to say hi and set the record straight.
I have to laugh at some of the stuff I read on this board.
Anyway... I'm looking forward to 2024 and beyond. Late development, looks like I'll be speaking at the upcoming Microcap Conference in Atlantic City next week. I recently did a podcast with Andrea Cataneo from MSK, and she's invited me to join her in a fireside chat at this conference to discuss the SEC cyber rules. There's also non-deal roadshow talks going on :)
Microcap Conference website: https://themicrocapconference.com/
Also, if anyone wants to learn about the new SEC cyber rules, I've got another webinar co-hosted with FKKS this week.
SEC Webinar Registration: https://sidechannel.zoom.us/webinar/register/WN_J8nPDUSAS0-US-aGDmOXrw#/registration
I sometimes post here to try and inform other investors with facts and opinions but will not respond to fools who lie and twist my posts. VCISO you are not part of the above mentioned. Those that respond to my posts in a manner I deem appropriate generally will receive a response.Yes it has been blacklisted that is 100% percent certain and yes they do trade OTC stocks.
Profits....BLACKLISTED OR JUST NOT COVERING?
Lots of firms don't trade otc stocks.
Let's back up our statements with facts and numbers. Since you called and asked them yourself, it appears that you have their contact info....please do share.
What's the brokerage firm so we can verify your claim?
It'd be interesting if true as most large brokers aren't trading OTC stocks.
I told You before our conversation has ended.
You're a regular Alan Greenspan, what with your allusion to “Irrational exuberance” and all. However, unnecessary capitalization, is not very Greenspan-like, but I digress…
You also happen to need a new paradigm. You are comparing 2018 Cipherloc with present day SideChannel. The former had little in the way of revenues, products or services. Plus, MDG—and this is kind—wasn’t exactly Steve Jobs or Jeff Bezos. With SideChannel, there are real revenues, eye-popping growth, promising products & services, top-notch management, and a formidable BOD. Oh, and zero debt.
I’m not trying to change your mind, but I will set the record straight at every turn.
Its great to hear of a podcast which uplifts investment spirits but be careful not to let hopes rise to Irrational exuberance. As an example older CLOK investors have seen very professionally done Chipherloc videos, interviews etc which amounted to nothing except people losing a lot of money.
A couple of weeks ago a friend called me and informed me that a major brokerage company had recently blacklisted SDCH. When a broker blacklists a stock it means they will not allow it to be purchased from them to protect their customers. I called the brokerage company and did confirm it was blacklisted. This is just one of the reasons I believe the SDCH RS and uplist will be a disaster for shareholders. Again I will be totally shocked if a uplist is approved.
In my opinion they did not blacklist SDCH BECAUSE IT WAS GOING TO UPLIST AND THE SHARE PRICE SKYROCKET.
Again all the above are just my opinions and hard truths.
She definitely suggested that sdch will uplist this year. Interesting.
*check out
It’s an excellent interview. Brian explains what the new SEC requirements mean for publicly traded companies in his customary straightforward way.
https://podcasts.apple.com/us/podcast/off-road-w-frank-ferraro-andrea-cataneo-a-chat-with/id1724636259?i=1000641645689
Change out this podcast. SIDECHANNEL CEO Brian Haugli is interviewed by lawyer Andrea Cantano—barrister turned stock market observer? Just before the interview Cantano mentions / predicts sdch will move to a big board in the near future. 👍
The segue before the interview is clumsy. You'll have to wait 20 seconds or so before the interview starts.
There is no doubt in my mind SDCH is legit.
For me, and this is just my opinion, there isn’t a 4 Star General anywhere in the United States that would agree to be on the board of a OTC company that was not 100% LEGIT.
#nowthatstheendofthisstory
This board reveals so much. Searching past posts, Profit has been in this stock something like 4 versions of the company ago starting when it was called NSCT. And supposedly a very experienced investor, board member, yet gains all this new insight from his "friend" whose a financial wiz thats seeing something in the filings that no one else does?
Pfft, this convo is over. I really can't believe anything else you're going to say.
"I am also a large stock holder of NSCT...I have many years of experience in investing. I currently have a seat on two pension funds"
get lost. our conversation has ended.
That's an insinuation again. Everything published is available. So either you are on the inside at SDCH knowing something (doubtful) or you're just making up stories for some unknown reason. The same filings are viewable and there's nothing as an individual investor or their auditors are flagging as a concern, especially on bankruptcy. There's no merit to these comments on how well this company could do or is actually currently doing.
Looking at your posts on other boards, this same type of commenting looks to be the norm. If you don't like the company, sell your shares and invest in something else.
I would like to offer another comment to you. What you read or are told when doing DD might not be the “be all or end all”. As my departed father used to say you need to look farther than what is obvious.
Thank You for sharing.
Below is a text that I received from an old employee under the mdlg regime. I received it out of the blue back in mid December when I was buying up .02 shares that were being dumped at the end of the year I Iaughed it off at the time. But it seems his sentiment is shared with others. Interesting.
This is a copy and paste of the text....
.02 cents from zero!
Who ya gonna blame
now? Revenues for
SDCH doesn't mean
s**t as cash dwindles
and bankruptcy
looms large in 2024.
Investors down 89%
from last pipe and all
other investors are
down 98%. Averaging
down on a losing
company and stock is
what 'dumb' investors
do before they lose it
all.
I specifically said there was nothing illegal and I never said anything was shady so quit trying to twist my post. I sincerely hope SDCH has a massive rally so I can sell at a price where my investment is returned. I will thank the lord for a miracle. End of discussion.
Profits - free speech and all that, but it’s really bad form to suggest some sort of shady / unlawful action by the C-suite—and then not back it up with specifics.
Look, the stock should be higher. Four cents is embarrassing. If I were among the sdch brass, I would be equal parts embarrassed and apologetic. Then again they're only in the 2nd inning (probably the top half, at that).
You have to be able to confidently share a compelling narrative. Sell some sizzle, secure a few contracts, and find a big tech player to help cover R&D.
They probably know all that. Who knows exactly what's in the works? I do know, however, the newly elected board members aren't getting “on board” to guide a sinking ship.
Good luck and do your own DD.
Facts as you believe them to be. Good luck with your opinion.
Business Description: SideChannel, Inc. (the “Company” or “SideChannel”). Effective July 5, 2022, the Company changed its name to “SideChannel, Inc.” following its acquisition of SideChannel, Inc., a Massachusetts corporation, on July 1, 2022. SideChannel is committed to creating top-tier cybersecurity programs for mid-market companies to help them protect their assets.
Our mission is to make cybersecurity easy and accessible for mid-market companies, a market that we believe is currently underserved. We believe that our cybersecurity offerings will identify and develop cybersecurity, privacy and risk management solutions for our customers. We anticipate that our target customers will continue to need cost effective security solutions. We intend to provide more tech-enabled services to address the needs of our customers, including third-party risk management, due diligence, privacy, threat intelligence, and managed end-point security solutions. To supplement our legacy licensing program, we are building our own applications that we intend to sell directly to enterprises and managed security service providers. Enclave our first internally launched product, is designed to be an easy-to-use platform for organizations that are seeking to control communication between devices; and to fully encrypt traffic between those devices. Enclave is designed to provide a simple and cost-effective solution for multiple devices, as compared to current complex cost-prohibitive solutions, which we believe require technical personnel to operate. Enclave is designed to make microsegmentation available to everyone at a low cost, and with minimum technical administration.
IR Page: https://investors.sidechannel.com/
IR Email: ir@sidechannel.com
DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE
The CEO, directors, and officers of the Company will hold office until additional members or officers are duly elected. The background and principal occupations of the directors and officers of the Company are as follows:
Debbie MacConnel, Chairwoman of the Board, Independent Director, has been involved in the computer industry for 34 years, retiring recently from the IBM Corporation after 28 years. Prior to her retirement, Ms. MacConnel was instrumental in transforming information technology for IBM’s human resources function, which supported up to 450,000 employees. Ms. MacConnel’s team at IBM was also responsible for transforming the succession planning process for executive selection and promotion, along with enhancing the processes for mergers and acquisition management and talent acquisition. Ms. MacConnel qualifies as an independent member of the Company’s Board of Directors. LinkedIn bio: https://www.linkedin.com/in/debbie-macconnel/
Brian Haugli, Director, President & Chief Executive Officer, has been the CEO of SideChannel since September 2017. Since October 2020, Mr. Haugli has been the founder of RealCISO, a cybersecurity risk assessment SaaS platform, and has been the creator and host of #CISOlife YouTube and Podcast since August 2019. Mr. Haugli was an Adjunct Professor at Boston College from June 2020 through January 2022, an advisor to Zscaler from September 2019 to 2020, and worked for the Hanover Group from May 2015 to April 2019, most recently as VP, Chief Security Officer. LinkedIn bio: https://www.linkedin.com/in/brianhaugli/
Ryan Polk, Chief Financial Officer, brings more than 25 years of experience in executive and financial roles at companies ranging from emerging growth to the Fortune 500. Mr. Polk has been the principal of Perissos Partners, an executive consulting firm, since June 2017. While at Perissos, Mr. Polk served in CFO roles at Generation Next and Cellpoint Corporation. From July 2011 to May 2017, Mr. Polk served in executive roles in the portfolio companies owned by Lacy Diversified, a family office based in Indianapolis, IN which actively managed investments in distribution, light manufacturing, and supply chain management with combined revenue approaching $2 billion. He also led the mergers and acquisition team for Lacy. From August 2008 to June 2011, Mr. Polk served as the Vice President for Corporate Financial Planning and Analysis for Brightpoint, a publicly traded, Fortune 500 mobile device logistics company, based in Indianapolis, IN prior to its sale to Ingram Micro. He began his career at Ernst & Young in the firm’s tax consulting group. Mr. Polk earned a Bachelor of Science in Accounting and Industrial Management from Purdue University – Krannert School of Management in 1990. Mr. Polk is also a certified public accountant (inactive). LinkedIn bio: https://www.linkedin.com/in/ryan-polk/
Hugh Regan, Independent Director, recently retired from his role as Secretary, Treasurer and Chief Financial Officer of inTEST Corporation, a publicly traded manufacturer of capital equipment used in the semiconductor industry and other markets, and currently works as a private consultant to businesses, assisting them with various strategic issues. Mr. Regan served in his roles at inTEST for just over 25 years, from April 1996 until June 2021. From 1985 to April 1996, Mr. Regan served in various financial capacities for Value Property Trust, a publicly traded real estate investment trust, including Vice President of Finance from 1989 to September 1995 and Chief Financial Officer from September 1995 until April 1996. Mr. Regan qualifies as an independent member of the Company’s Board of Directors and will serve as the Chairperson of the Company’s Audit Committee. LinkedIn bio: https://www.linkedin.com/in/hugh-regan-50a1201/
Kevin Powers, Independent Director, is the founder and director of the Master of Science in Cybersecurity Policy and Governance Programs at Boston College and is an Assistant Professor of the Practice at Boston College Law School and in Boston College’s Carroll School of Management’s Business Law and Society Department. Mr. Powers is also a Cybersecurity Research Affiliate at the MIT Sloan School of Management, and he has taught courses at the U.S. Naval Academy, where he was also the Deputy General Counsel to the Superintendent. Mr. Powers qualifies as an independent member of the Company’s Board of Directors. LinkedIn bio: https://www.linkedin.com/in/kevin-powers-54893a8/
5/17/22 - 87,560,647
4/3/23 - 149,571,281
11/24/23 - 214,041,082
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