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Today the chart was ready to roar, last news was 3 weeks ago, what an opportunity, try again early premarket tomorrow
Beautiful chart, as good a chart set up as there is in the market imo, also today is 10 4 or understood day, acknowledged day, a Widely recognized point day.
Taking cybersecurity steps toward achieving major government contracts and corporate partnerships imo, low float as well, potential for perfect storm, revenues already 10x OS
WidePoint Engages K-12 Schools to Offer Identity & Access Management Solutions
From Yahoo.
WidePoint Corporation
WidePoint Corporation
Wed, September 28, 2022 at 2:25 PM
In this article:
WYY
+5.26%
FAIRFAX, VA / ACCESSWIRE / September 28, 2022 / WidePoint Corporation (NYSE American:WYY), the Trusted Mobility Solutions company, announced that WidePoint IAM Solutions is now being piloted within IT groups at several K-12 schools. The Phase 1 Pilot project includes the elimination of user name and password for Tier 1 IT staff for system and network access, for securing email communication with the schools, and for controlling physical access using existing door readers. Phase 2 will include all school staff members, and scheduling the other phases.
Jason Holloway, WidePoint's Chief Revenue Officer, stated: "Ransomware attacks on our nation's school districts and systems are creating a strain on students, staff and resources, draining technology funding, devastating budgets and impacting technology investments that can benefit students and secure schools. Frankly, many of the security offerings in place are not working."
The WidePoint-ORC cybersecurity team pioneered Public Key Infrastructure (PKI) with the U.S. Department of Defense (DoD). PKI is an unmatched solution centering around strong authentication for controlling both logical and physical access. WidePoint's next generation federally-certified IAM solutions deliver quantum-resistant PKI solutions for multifactor authentication. WidePoint has evolved our IAM solution for the State, Local and Education (SLED) and commercial markets.
Caroline Godfrey, Chief Security Officer of WidePoint Cybersecurity Solutions Corporation, stated: "User IDs and passwords in combinationwith one-time passcodes (2-factor authentication) to personal phones are recognized as antiquated solutions and the genesis for malware or ransomware attacks. WidePoint's multi-phased deployment approach allows for the smoothest, non-intrusive deployment by starting with Tier 1 IT staff, then moving to critical users, teachers, servers, students and devices. Securing schools with PKI, the strongest authentication solution used by the U.S. Department of Defense and civilian federal government agencies, is a significant step forward and game changer for the school community."
Holloway added: "Schools, government agencies and commercial enterprises need stronger cybersecurity. We are rolling out WidePoint's IAM solution to schools and look forward to expanding this work. Additionally, we are now developing a national cooperative contracting vehicle to help schools more easily procure this essential solution."
The global use of PKI will enable increased information sharing and technological collaboration. PKI is so important in today's digital age because millions of applications and connected devices require verification. And the rise of the Internet of Things (IoT) has led to millions of new connected devices needing to be secured, and authenticated.
Jin Kang, WidePoint's CEO, stated, "We have been investing in our Identity & Access Management as a Service (IAMaaS) for PKI and we are happy to see that our efforts are gaining traction in this critical space of strong authentication. With the continued cyberattacks on our critical infrastructure on the rise, we see enormous growth opportunities in this space. I look forward to providing additional updates on this pilot project and our commercial IAM wins in the near future."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
100 million in sales less than 10 million OS, potential for 10.00 if EPS is better going forward, 1 and 6 month charts ready, Company working hard and making lots of deals, good communication with shareholders seems determined to turn it around, Could surge here this week, wyy undervalued imo one of the diamonds in the haystack.
WidePoint's Subsidiary IT Authorities Awarded New IT Professional Services Provider Contracts
From Yahoo.
FAIRFAX, VA / ACCESSWIRE / September 13, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded two new professional services contracts for Turnkey IT Infrastructure and Modernization by a leading Sports Marketing, Media & Technology company. These two new contracts, valued at more than $140,000, are associated with the media company's nationwide expansion.
Jason Caras, CEO of IT Authorities, stated: "IT Authorities is excited to expand our work with this industry-transforming company. ITA will provide a procurement of materials, professional services and project management to accomplish this expansion initiative. ITA is also providing design and architecture expertise to support the company's growth across the professional, collegiate and high school sports sectors."
Jin Kang, WidePoint's CEO, stated, "IT Authorities is deepening its contracts with visionary technology companies, providing new opportunities for cross-selling and upselling of WidePoint ITaaS solutions. We look forward to growing with this industry-leading company."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
About IT Authorities, Inc
IT Authorities, Inc. (ITA) is a Managed Services Provider (MSP), a Managed Security Services Provider (MSSP), and a Cloud Services Provider (CSP). ITA offers a complete portfolio of 24x7x365 end user helpdesk services, advanced security services, professional services and management services for Azure, AWS and Microsoft 365 as well as private cloud and on-premises solutions. Based in Tampa, Florida, ITA serves clients across the United States and in North America. ITA is a subsidiary of WidePoint Corporation. To learn more about IT Authorities, please visit www.itauthorities.com.
Only depends on who on earth will use it!
ITMS has extensive supply to the US government and by promoting it may encourage other governments around the world as well as a multitude of forward-thinking companies.
This process assures secure management technology - which is becoming more vital every day.
And the share price goes down.
Seems like a pretty big deal, to me.... cradle to grave.
From Yahoo
WidePoint Launches Secure Technology Asset Management Solution
FAIRFAX, VA / ACCESSWIRE / August 31, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced the launch of the new ITMS™, Intelligent Technology Management Solution.
Todd Dzyak, WidePoint's Chief Operating Officer, led the ITMS™ development team. Dzyak stated, "ITMS™ evolved from our Intelligent Telecommunications Management System to be a secure technology asset management solution. Our extensive work with federal government agencies guided the development of this next generation secure management technology platform."
ITMS™ provides a customizable solution for managing, tracking, analyzing and securing technology assets. Users can login, see real time delivery status, complete secure device acceptance, digitally sign IT asset confirmation receipts, and then initiate secure device return and data sanitization at the end of use. Leadership can account for every device every step of the way, from deployment to retirement, cradle to grave. Sample success cases include:
ITMS™ is the secure asset management solution for an armed forces service, facilitating the validation of more than 18,000 mobility IT assets every month.
ITMS™ is the secure container of all property documents and custody receipts for a transportation agency. Every device is tracked for increased accountability.
ITMS™ was the secure asset management solution of record for the largest U.S. Government MMS project, facilitating the secure chain of custody for over 700,000 devices. ITMS™ replaced more than 3.5 million paper receipts for device custody acceptance.
Jin Kang, WidePoint's CEO, added, "WidePoint is continuing to establish a leadership position in the Trusted Managed Mobility Solutions market with our ITaaS management solution to commercial organizations faced with managing and securing diverse technology assets including enterprise portfolios, mobile workforce equipment, and Internet of Things (IoT). Clients are very interested in utilizing a secure technology management solution that has been vetted by the U.S. Government. Our subsidiary, IT Authorities, is also expanding its sales initiatives by introducing ITMS™ to its growing pipeline of commercial clients."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
From Fidelity:
WidePoint's Subsidiary IT Authorities Awarded New Managed Service Provider Contract; Valued At ~$616.7K Annually
BENZINGA 9:31 AM ET 8/22/2022
FAIRFAX, VA / ACCESSWIRE / August 22, 2022 / WidePoint Corporation(NYSE:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new Managed Service Provider contract from a leading Sports Marketing & Media company valued at more than $616,700 annually.
Jason Caras, CEO of IT Authorities, stated: "IT Authorities is honored to support this innovative company. The managed services to be provided are a full range of ITaaS solutions including: IT infrastructure support, monitoring, Windows server support, managed and SaaS business application support, user business productivity support, end user desktop support, security, disaster recovering, operating system support, and software licensing. IT Authorities will provide this support 24/7. We are also providing consulting expertise and solutions insight as the company grows its business and technology footprint."
Jin Kang, WidePoint's CEO, stated, "The synergies that our teams can create are starting to be realized. This new contract is another example of how IT Authorities is forging new opportunities for cross-selling and upselling of WidePoint ITaaS solutions."
WidePoint's Subsidiary IT Authorities Awarded New Managed Service Provider and IT Modernization Contracts
https://www.accesswire.com/712467/WidePoints-Subsidiary-IT-Authorities-Awarded-New-Managed-Service-Provider-and-IT-Modernization-Contracts
FAIRFAX, VA / ACCESSWIRE / August 17, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded five new commercial contracts for a total of more than $360,000.
Jason Caras, CEO of IT Authorities, stated: "From healthcare to financial to higher education, these diverse new contract wins illustrate that IT Authorities is being recognized across industries for delivering valuable IT Modernization and Managed Service Provider solutions."
Jin Kang, WidePoint's CEO, stated, "IT Authorities is helping to create a growing pipeline for cross-selling and upselling of WidePoint ITaaS solutions. We are excited to introduce our Identity and Access Management and mobility management to these clients and to support IT Authorities in these engagements."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
About IT Authorities, Inc
IT Authorities, Inc. (ITA) is a Managed Services Provider (MSP), a Managed Security Services Provider (MSSP), and a Cloud Services Provider (CSP). ITA offers a complete portfolio of management services for Azure, AWS, and Google platforms, as well as cloud components such as VMs, storage, network, Redis cache, app services, SQL workloads, and much more. Based in Tampa, ITA serves clients across the United States and in countries on five continents. ITA is a subsidiary of WidePoint Corporation. To learn more about IT Authorities, please visit itauthorities.com.
WidePoint Corporation (WYY) CEO Jin Kang on Q2 2022 Results - Earnings Call Transcript
Aug. 15, 2022 10:43 PM ETWidePoint Corporation (WYY)
Q2: 2022-08-15 Earnings Summary
EPS of - beats by $0.04 | Revenue of $23.06M (15.38% Y/Y) beats by $1.67M
WidePoint Corporation (NYSE:WYY) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET
Company Participants
Jin Kang - President and CEO
Robert George - CFO
Jason Holloway - EVP and Chief Sales & Marketing Officer
Conference Call Participants
Barry Sine - Spartan Capital Securities
Operator
Good afternoon. Welcome to WidePoint’s Second Quarter 2022 Earnings Conference Call. My name is Mathew and l will be your operator for today’s call. Joining us for today’s presentation are WidePoint’s President and CEO, Jin Kang; Executive Vice President and Chief Sales and Marketing Officer, Jason Holloway, and CFO Robert George. Following their remarks, we will open up the call for questions from WidePoint’s publishing analysts and major investors. If your questions we’re not taken today and you would like additional information, please contact WidePoint’s Investor Relations team at wyy@gatewayir.com. Before we begin the call, I would like to provide WidePoint’s Safe Harbor statement that includes cautions regarding forward-looking statements made during this call.
The matters discussed in this conference call may include forward-looking statements regarding future events and the future performance of WidePoint Corporation that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. These risks and uncertainties are described in the company’s Form10-Q filed with the Securities and Exchange Commission. Finally, I would like to remind everyone that this call will be made available for replay via a link in the Investor Relations section of the Company’s website at www.widepoint.com. Now, I would like to turn the call over to WidePoint’s President and CEO, Mr. Jin Kang. Sir, please proceed
Jin Kang
Thank you, operator, and good afternoon to everyone. Thank you for joining us today to review our financial results for the second quarter ended June 30, 2022. I’m excited to start by sharing that our revenue showed double digit percentage growth compared to the same period last year. And we see a strong second half of 2022 ahead of us, as we see a clear path to improve operating conditions and pending contract execution in our sales pipeline in addition to contract wins already announced prior to our call. We have fortunately begun to see signs that the macroeconomic headwinds created by the pandemic and the supply chain disruptions are beginning to subside.
In parallel with the macro economic conditions beginning to turn in our favor, we have also been able to start recognizing customer opportunities that has been pushed to the right in the past several quarters. Whether new or existing clients, the amount of recent interest we’ve received from our customers has resulted in a significant amount of momentum generated for WidePoint. An encouraging piece that I want to share is that our team’s ability to upsell and cross sell our set of solutions to existing customers. As our portfolio of product has grown, once we get our foot in the door with a client, it is much easier for us to upsell and cross sell as our solutions provide a sticky and compelling value add into our clients operations.
The sales team continues to do a phenomenal job of expanding the scope of work with our existing clients and remain steadfast in their efforts to ensure recapitalize on all opportunities. The encouraging status report on the sales front, our market leading DOD multi factor authentication solution, and our comprehensive managed mobility services combined with our team’s ability to continuously operate efficiently internally has helped generate this momentum. In support of operating efficiently, we have reviewed our legacy organizational roles and recently made several strategic shifts within our corporate infrastructure to further streamline and consolidate roles and responsibilities. Our plan is that focusing our resources and maximizing the efficiency of our company’s operations will help us prioritize sales and operational objectives to exponentially grow our sales pipeline, enhance internal communications, improve synergies, minimize costs, and ultimately increase our profits.
That said, I’m pleased to share that we have recently promoted our very own Jason Holloway, currently WidePoint’s Executive Vice President and president of WidePoint cybersecurity solutions corporation and Chief Sales and Marketing Officer to the new role of Chief Revenue Officer. With this promotion, Jason will continue to spearhead sales and marketing as well as all revenue generating activities including M&A across all of our subsidiaries.
Additionally, Todd Dzyak, President of WidePoint Integrated Solutions Corporation has been promoted to Chief Operating Officer to manage all of our organization’s North American operations. Also, Ian Sparling CEO of subsidiary Soft-ex will assume the role of Chief Operating Officer International. Again, the purpose of expanding the roles for Jason, Tod and Ian and the shift in our corporate infrastructure is to ensure that we’re able to better focus, prioritize, and bring to bear the consolidated resources needed to accomplish our company’s objectives, and execute our strategies more effectively. These changes remove the constraint from our executives being confined to a certain WidePoint subsidiary, and give them a functional role across the entire company. We believe that WidePoint has graduated on to the next phase of our corporate timelines, and are confident that giving our executive a functional focus will be the most effective way to conduct business going forward.
I believe that these changes will accelerate our growth, as well as we head into the second half of this year and beyond. Additionally, this realignment comes at an ideal time as it will help us capture synergies from the recent IT authority acquisitions, and best prepare us to integrate additional entities following M&A activities. I’ll dive further into this topic later in this call.
As I’ve shared on our prior earnings call WidePoint has continued to make strategic investment back into our technology. Notably our delivery system and our continuity of operations plan for COOP. On the COOP front, we continue to make progress to ensure that our capabilities meet and exceed our clients requirements. We recently tested our disaster recovery plans and verify that our processes and procedures worked successfully. We’re also investing in creating a hot COOP site to further enhance our disaster recovery capabilities.
We continue to enhance our Intelligent Technology Management System, or ITMS capabilities to improve our customers user experience. We recently helped several federal agency reduce their use of physical paperwork by streamlining their property and accountability process within their ITMS instances, thereby helping them achieve some of their ESG program goals.
As I mentioned in our previous earnings call, we expect the federal sponsoring agency to complete their paperwork in Q3 and move our efforts to the in process status. Also, as mentioned on our previous call, we operationalized our commercial Identity and Access Management or IAM solutions. We continue to make enhancements to our IAM solutions, which is a solution that we have been showcasing to the K through 12 institutions, bottling industry customers, banks and other commercial entities.
Additionally, we have successfully designed, developed, tested and implemented our remote identity verification and certification certificate issuance process to streamline and reduce the cost of issuing digital certificates. This capability is a game changer for Identity and Access Management solution as it will now allow us to certify and issued digital certificates remotely and remove the need for our customers to physically traveled to a registration site, saving them time and money while at the same time reducing their carbon footprint.
As a reminder, our IAM solution is the most secure, quantum resistant multi factor authentication solution that is certified by the U.S. Federal Government.
An encouraging note is how these investments into our products and solutions have resulted in incremental cross sell and upsell opportunities with existing customers recognize this return on investment from our time and resources being spent on investing back into our business has proven that one, our technology helps companies solve real problems. And two, there are significant business and business development opportunities that we need to ensure we capitalize on and three, Identity and Access Management is not optional. Our team is excited for what’s ahead. We have already begun to see the incremental growth in our core business heading in the right direction, coupled with the operational enhancements we’ll be making. This ultimately gives us the utmost confidence that we are setting ourselves up for greater success in the second half of the year and beyond.
With that overview completed I will now turn the call over to Jason to provide you with some details on the investment we are making on the sales and marketing front. Jason?
Jason Holloway
Thank you Jin and good afternoon everyone. As Jin stated we have a robust sales pipeline and are continuing to build momentum from a business development standpoint point for both existing and new customers. The reason for this is due to a blend of several months of engagement that were pushed to the right finally coming to fruition in addition to the sales team finding cross sell and upsell opportunities with existing clients as well as investments we are making in sales and marketing that we see paying off in the fourth quarter and beyond.
First, I’ll touch on some of the net new wins I am able to share at this time. One of the more recent wins we announced was for our subsidiary Soft-ex and the launch of its three analyst platforms with Three UK. A connectivity company that covers 99% of the UK mobile users with its combined 3G and 4G networks. The three analysts platform is Soft-Ex latest digital billing, communications and analytics platform that’s designed to provide customers with the ability to track mobile usage and spend. It provides billing insights so that customers can take control of communications spend via a self serve portal, and offers the option to have reports delivered straight to the clients inbox. We see this opportunity growing further as Three UK continues to grow and propagate our solution to their clients. Second, we are able to secure a new contract with a large retail bank through our subsidiary, IT Authorities. The WidePoint team also received notification of a new award from a federal bank and is currently under final contract negotiations.
Next, I’d like to discuss some additional recent wins, where we’ve successfully capitalized on cross sell and upsell opportunities, utilizing our combined set of solutions. To begin, as I shared on our last call, we engaged a large sports marketing and multimedia rights holder for some of the most prestigious sports venues across the country earlier this year. Our engagement led to a contract award valued at over $600,000 with a contract period of 12 months. We see this contract continuing to expand as more sport names are added to their list of customers. I look forward to providing you updates on the growth of this customer in our future calls as well as potentially disclosing the name of this customer as our relationship progresses.
Recently, our sales team was also able to successfully close a mobility management and an Identity and Access Management deal with one of the country’s leading beverage companies. Speaking of beverage companies, I’d like to reiterate the recent press release in which IT Authorities had been working with a leading U.S. beverage bottler on a month-to-month basis for a long time. As a result of IT Authorities superior service delivery and their ability to offer expanded services through WidePoint a three year managed service contract was awarded and is valued at 2.6 million. You also may have seen another press release this past Wednesday where the customer has issued us another contract for managed mobility valued at over 600,000.
We see this relationship continuing to flourish and I look forward to providing you with more good news on this front. As you can see, we have a healthy mix of existing federal government and commercial enterprise customers and a multitude of prospective ones in the pipeline that we are looking to close and announce over the coming months. I am very excited for some of these contract wins to come to fruition and look forward to sharing with you all further detail when we are able. We’ve also continued to move full stream ahead with our indirect sales strategy which is to team with large, entrenched systems integrators and expand our relationships with both dominant players in the commercial and federal sectors. We have recently signed a partnership agreement with a leading in point security company contract details of which is currently being negotiated. More on this soon.
A final comment from me today. I am really excited about our realignment plan. The talents of our team will be even better focused to realize our strategic goals. I look forward to my expanded responsibilities as Chief Revenue Officer and working with our team to maximize our products and sales opportunities.
With that I will hand the call over to Bob.
Robert George
Thank you, Jason. Good afternoon, everyone. I’m pleased to share the details of our second quarter 2022 financial results. For the second quarter, our total revenue increased by 16% or $3.1 million to 23.1 million from 20 million reported from the same quarter last year. For the six month period ended June 30, 2022 total revenues increased 12% or $4.9 million to 45. 5 million from 40.6 million for the first six month period last year. Carrier services revenues increased by 5% or $600,000 to 12.5 million from 11.9 million in the second quarter of last year. This is primarily due to a large federal government customer increasing the number of phone lines we manage by approximately 75%. Otherwise carrier services remain constant from the same period last year.
To the six months ended June, 2022 our carrier services increased by 9% or $2.2 million to 25.4 million from 23.3 million, the same period in 2021. This is primarily due to carrier credits of approximately 1.7 million reflected in the first half of 2021 but not in the first half of 2022 and the increased demand phone lines in the federal government customer I just previously mentioned. Our managed services revenues increased by 30% from 8.1 million to 10.6 million in the second quarter of 2022 compared to the same period last year. For the six month period managed services increased by 15% from 17.4 million to 20.1 million in the same period last year. Within managed services our managed services fees remained relatively constant between this year and last year. It’s $6.7 million in the second quarter of 2022 compared with 6.6 million in 2021.
However, decreases in our recycling service volumes and accessory sales approximately 1.5 million were offset by approximately 1.6 million of managed services revenue from our ITA business which was not included in the second quarter of 2021. For the six months ended June, 2022 our managed services fees decreased by 6% or $900,000, from 14.9 million to $14 million, largely due to lower device recycling and service volumes and accessory sales. This decrease was offset by approximately 3.2 million of managed service revenue from our ITA business, which was not included in the first half of 2021. In the second quarter of 2022, reselling and other services increased by $2.4 million to 2.9 million from 400,000 in the second quarter of last year.
A major driver of the increase was that during the three months ended June 30, 2022, we completed a large resale of Unified Endpoint Management, or UEM software licenses to a single federal government customer, the amount of $1.7 million. Additionally, the increase was bolstered by approximately 450,000 of reselling revenues to most of the commercial customers for ITA business, which was not included in our 2021 results. In the six month period ended June 30, reselling and other services increased by 3.5 million to 4 million as compared to 500,000 last year. The increase was related to the large resale of UEM software as I previously mentioned, and approximate 1.1 million of reselling revenues from our ITA business which was not included in the first half results.
Our gross profit for the second quarter 2022 was $3.3 million or 14% of revenues as compared to 3.9 million or 20% of revenues in the first quarter 2021. Gross profit for the six month period ended June 30, 2022 was approximately 7.2 million or 16% of revenues as compared to 8.7 or 21% of revenues in the first half of 2021. The lower gross margins related to market conditions we faced in the first half of the year in our ITA business and to an extent in other areas of our business as well.
Namely in three areas. One, increased employee turnover as a result of the so called great resignation and higher employee replacement costs include recruiting cost and the use of more expensive subcontractors. Two, wage inflation due to the scarcity of highly sought after resources. And three, customer projects, particularly in the commercial sector, being paid due to uncertainty in the macroeconomic environment. Although we’ve taken staffing and other actions to mitigate the headwinds in the first half of the year, there’s still some uncertainty related macroeconomic environment ahead.
In the second quarter 2022 operating expenses increased to 4.6 million from 4.1 million in the second quarter of last year. For the six months ending June 30, 2022 operating expenses increased 14% to 9.2 million from 8.1 million in the first half of last year. The increase in operating expense was primarily due to the investment in ITA, which added 700,000 and 1.5 million of operating expenses in the second quarter in the first six months between 2002 respectively.
Now regarding the non-cash goodwill impairment. In the first half of this year, especially in the second quarter, there was a pronounced deterioration in the macroeconomic conditions that resulted in a significant decline in WidePoint’s market capitalization. This significant decline known under U.S. GAAP is a triggering event, which is defined as events both inside and outside the company that adversely impact the company, including but not limited to a contract or customer loss, new regulations, macroeconomic factors or in our case, a significant decline in the market, company’s market value.
We did not observe any other factors we consider to be triggering events under GAAP, other than decline of our enterprise value. Due to this trigger event we performed an in depth review of goodwill impairment. And as a result in the second quarter, we took a non-cash goodwill impairment charge in the amount of $16.3 million. The charge does not affect cash flows, adjusted EBITDA or our bank covenants. More importantly, this non-cash adjustment had no impact on the operations of or health of our company. To the second quarter 2022 GAAP net loss was 13.8 million or loss of $1.58 per share and increase to our $204,000 loss, or $0.02 per diluted share loss in the second quarter of 2021.
For the six months ended June 30, 2022 GAAP net loss was 14.2 million or a loss of $1.62 per diluted share. It decreased from net income of 381,000, or $0.04 per diluted share in a six month period in 2021. On a non-GAAP basis our adjusted EBITDA for the second quarter of 2022 was $6,000 compared to 531,000, the same period last year. For the six months into June 30, 2022 our non-GAAP adjusted EBITDA was 350,000 compared to 1.76 million in the same period last year.
Shifting the cash flow in the balance sheet. Our current ratio at the end of June is 1.1 to 1 compared to 1.3 to 1 at December 31, 2021. We existed the quarter was $7.2 million in cash. And with an expanded capacity under revolving credit facility, we have 7 million available borrowing capacity. Furthermore, although we have an ATM at our disposal, we have no current plans to execute any orders on the ATM, but will be opportunistic if situations are favorable. We believe that our operating cash flows, cash on hand, available credit line and equity options give us ample liquidity. This completes my financial summary. For more details of our financial results, please reference our form 10-Q, which was filed just prior to this call.
So with that, I’ll turn it over back to Jin.
Jin Kang
Thank you, Bob. And thank you, Jason. Now, I will provide a brief update on our M&A initiatives as we remain extremely diligent in our plans for profitable growth. Not only from an organic standpoint, but also from an inorganic perspective. Our senior leadership has continued to be prudent and meticulous in vetting M&A candidates. In particular, we are keen on companies that have a robust mobility presence, as our goal is to establish a leadership position in the trusted mobility management sector by acquiring additional capabilities.
Our team remains heads down and steadfast in ensuring we find the right companies to accelerate our inorganic growth strategy. We will keep you apprised of any new developments on this front. Longer term as we engage in more M&A activities, the realigned organizational structure I share with you at the beginning of my remarks will help us integrate acquired entities more smoothly. The acquire entities operations can be combined with WidePoint’s operations based on function rather than operating as a standalone entity. In this way redundancies can be identified and streamlined quickly.
And this model will also increase synergies and improve communication post merger. This concept in a scaled manner would effectively help us run a more lean and efficient operation operating process. Given that we continue to pursue the M&A path. Our company has decided to pause the company’s stock repurchase program for the time being, as we will want ample liquidity heading into any potential transaction.
Finally, as disclosed in our earnings release, we’re confident in our team’s ability to reach the previously shared revenue and adjusted EBITDA guidance figures. However, we are guiding towards the lower end of the adjusted EBITDA range provided in our last earnings due call due to market conditions and company’s performance in the first half of 2022. And in response, we have removed redundancies and a realigned organization based on function as discussed earlier in my remarks, and exited the second quarter on a strong footing in terms of our financial and operational performance. We also see this trend continuing for the second half of this year and beyond. I’m happy to share that our streamlined and realigned organization is working well. And it is already bearing fruits in terms of new contractors, new customers that Jason spoke of. I’m also happy to share that our customer purchasing activities are increasing, as exemplified by the recently announced awards to include Three UK, a premier sports marketing and multimedia rights holder, a regional retail bank, a federal bank, two contracts with a leading bottling company, and of course, our U.S. Coast Guard award. They’re also pending awards, that is an additional sign of increased purchasing activities by our prospective customers. We will announce those wins as soon as the ink is dry.
Our new role of Chief Revenue Officer has made a real positive impact on our sales pipeline. Our sales pipeline now includes material opportunities that even winning one such opportunity will have a material impact on our managed services revenue in 2022 and beyond. Our long term outlook is supported by a robust sales pipeline, and recent contract awards. I look forward to announcing that we have closed on these material sales opportunities as they come to fruition in the near future.
In conclusion, as we continue to proceed into the second half of 2022, we are on a path of improved operating performance and conditions with significant momentum. We remain laser focus on our plan for profitable growth through organic and inorganic means, and are at the brink of several impending milestones. As always, we sincerely appreciate the dedication from our employees and support from our investors and look forward to providing you all with additional updates.
With that said, we are ready to take questions from our analysts and major shareholders. Operator, will you please open the call for questions?
Question-and-Answer Session
Operator
Ladies and gentlemen, the floor is now open for questions. [Operator Instructions] Your first question is coming from Barry Sine from Spartan Capital Securities. Your line is live.
Barry Sine
First of all, congratulations on all the new contracts and especially congratulation to Jason for a well deserved promotion. Although now you’re going to be responsible for making the revenue numbers. So not sure if congratulations or condolences are in order. But we have faith in you.
Jin Kang
We’re confident. We’re confident. We have faith in Jason as well.
Jason Holloway
I appreciate it Barry, thank you.
Barry Sine
The contracts that you announced whenever you guys announced the contract, the key question in my mind is always is this a renewal? Does this just replace revenue that you’ve already been receiving? So for example, was Coast Guard always part of DHS? And that’s just a renewal, or isn’t this an addition? And a lot of these other ones executed 53.2 million in contract actions. Is that renewals? Or is that new contracts? And then I guess IT Authorities that sounds like a brand new contract.
Jin Kang
Right. So it’s a few things. In terms of the Three UK that wasn’t existing customer. But we just recently rolled out a new digital billing and analytics portal. And then it’s going to now open up the portal to more of their customers. So that is a net new win. The premier sports and marketing multimedia rights holder, that’s a new customer through our IT Authorities acquisition.
The regional retail bank is a new award. The Federal Bank is a new award. Two contracts with leading bottling companies one is an existing one. And then there was actually two smaller actions that were new. The one that was 600K, that was announced that Jason covered in his remarks knew. And of course, the U.S. Coast Guard was an existing customer, but they renew for the entire period of performance of the contract of the CWMS contract. And there is annual escalators built into that. So that would also represent some as new revenues.
Barry Sine
High class problem to have so many contracts to keep track of. And then continuing on the topic of contracts you mentioned that there’s a number of whales out there, I think you use the word material sales opportunities. When you use that word, how do you define material?
Jin Kang
We define material, as anything that’s going to add 20% or more in terms of our managed services revenue. So you have, just to clarify that you have multiple contracts each of which, if you won them would increase managed services by at least 20%?
We have multiple such opportunities in our sales pipeline.
Barry Sine
Okay And then Bob, on the -
Robert George
Some of them even bigger. Some of them even bigger Barry.
Barry Sine
I am waiting for the press releases. Bob, on the goodwill impairment, I appreciated the explanation. I think you did a good job explaining that even I think understand it. Could you walk us through the math? Is that charge primarily result of using a higher interest rate in the DCF on the goodwill, or is it something else?
Robert George
It’s a combination of a couple of factors. One, the delta between the market cap and the DCF narrowed significantly when we ran the analysis, so we had a less implied premium to reconcile to, but then yes, there’s a higher interest rate. And there’s less cash flows, not materially less, but there are less cash flows in the out year forecast as well. So it’s a blend of higher cost capital, higher interest rate and slightly less cash flows. But like, not much on the cash flow side.
Barry Sine
And, Bob, thank you very much for I noticed the queue is out right on time, right at the dot 4 o’clock. They’re very helpful. Next question, you guys use the term macroeconomic headwinds. And you mentioned that you’re seeing them suicide. If I look at the, when I first read that I look at the broader economy. I was wondering what you were talking about. But then in the script it sounds like what you’re talking about, I know, a key issue with you has been a handset vendor, not being able to ship quantities and if you couldn’t get new handsets, you couldn’t fulfill contracts and meet revenue. Am I correct? That’s kind of the key macro headwind that subsiding is availability of handsets.
Jin Kang
That is one impact that we had we have been managing that process. There were some accessory equipment, providers that sort of closed their doors and we don’t know if they’re going to open them again, but we did we were able to find alternative sources. But what we were pointing to in terms of macroeconomic headwinds is that a lot of the acquisition portions of the organizations especially in the commercial side, they have been hesitant to make new awards, but we see that slowly changing as we are seeing additional awards and various acquisition parts of the organization starting to reengage with us and so we should see more of that. Then the other macroeconomic headwinds that we talked about that Bob covered in his remarks was the increase in staffing cost that is continuing to increase due to the great resignation. It has been a challenge for us to manage that. But as I said, that’s why we went into the realignment, and we exited the second quarter on a very solid footing.
Barry Sine
And then, in the release, you also talk about strategic organizational shifts. Could you be a little more specific exactly what you did? Did you reduce headcount? Did you go to new software programs? Did you reduce office space? What exactly did you do in that organizational shift?
Jin Kang
In terms of the organizational shift, we’re going from a more project based organization, to a more function based organization, and so we’re consolidating all of the activities of sales and marketing and revenue generation under Jason, and then we’re consolidating all of our operating arms into under Tod and Ian. And as a result of that, we reviewed various positions that were vacant, and we have not filled those. Some of these things that our cost of staffing has decreased through natural attrition which we will not refill.
Barry Sine
So just to ensure that I understand that correctly, it sounds like previously, project based you had multiple silos with separate sales forces. Now you’re going to a single sales force single other functions, and you can eliminate some overlap that way. Does that sound fair?
Jason Holloway
Yes. Barry, this is Jason. That’s actually spot on.
Barry Sine
My last question, Jin. You had a section on M&A in the script. It was long on acronyms and long on adjectives and kind of short on specifics? So do you currently have anything live in the pipeline that you’re looking at? You’re negotiating with? And in the past, on M&A, one of the things you’ve talked about is, you saw plenty of opportunities, but you thought that the prices they wanted were unreasonable from your perspective with the macroeconomic changes. Has that changed? And do you in fact, have any live prospects that you’re working on now? Or is it just more optimism, but no real prospects?
Jin Kang
The answer is multi part answer, because it was a multi part question. So I think the companies that we are evaluating are looking for evaluations, that our we believe that is unrealistic. But there are companies that are out there that we are considering that are within what we believe is reasonable. And so we’re continuing down the line. We have various opportunities that we are chasing, and we are chasing those opportunities that are specifically in the trusted mobility sector that’s going to deepen our capabilities there. And I’m hesitant to say anything additional to that. Because with these M&A activities, you never know, whether things are going to happen, whether they’re going to not going to happen, whether we’re going to get to the altar ultimately. So I think we should leave it there. But we our heads down, as we said, in our M&A activities, and we’re charging full speed ahead.
Barry Sine
So, just to follow up on that. In the past, I think you and others, have seen competition from private equity buyers, who had been willing to pay premiums. Are you seeing that type of competition decline a little bit in terms of looking at opportunities or are they still out there?
Jin Kang
I think that people are because of the macroeconomic headwinds I think there are less competition out there that we see. But that doesn’t mean that there isn’t competition for these folks. And so we want to be very careful about saying what we’re looking at or who we’re looking at, because we don’t want to have that competition. And so I don’t want to say too much about it other than we are seeing some success. We see sort of bright spots within our M&A activities. And we’re going to continue chase after them. And as soon as we have something serious to announce, we will put it out there as quickly as we can.
Barry Sine
And just to go full circle, we started out my Q&A on new contract wins, tying that into M&A a number of those contract wins came via ITA. So the revenue synergy, that’s often mythical, when you hear companies announce deals, in your case is actually coming to bear. So now that you’ve done it once, and I assume you’re very pleased with that. Are you a little more confident in looking at acquisitions in projecting synergies?
Jin Kang
Yes, definitely. And I think that there’s a lot of opportunities that we had in terms of upsell and new customers. I think that we feel more confident in that those synergies coming to fruition. Jason has a whole lot more detail on all of the items. So Jason, did you want to add additional highlights to that?
Jason Holloway
Yes, sure. Barry, the one thing I did want to say is that with regards to IT Authorities, once we got past all of the integration tasks which took a tad longer, we as you can tell by what we reported, we are certainly hitting a stride. I mean the ability to cross sell, and upsell, which IT Authorities has been great, and as always, we’re cautiously optimistic that this is going to continue, and they’ve got a fairly large presence within the current pipeline. And of course with all of the future candidates that we’re looking at for M&A I mean obviously, we would love to be able to have that same type of synergy. So we’re definitely reviewing a number of [Indiscernible] and we’ll see where it takes us.
Operator
Thank you. [Operator Instructions] At this time this concludes Q&A session. If your question was not taken, please contact WidePoint IR team at wyy@gatewayir.com. I would now like to turn the call back over to Mr. Jin Kang for his closing remarks.
Jin Kang
Thank you, operator. We appreciate everyone taking the time to join us today. As the operator mentioned, if there were any questions we did not address today, please contact our IR team. You can find their full contact information at the bottom of today’s earnings release. Thank you again and have a great evening.
Operator
Thank you for joining us today for WidePoint Second Quarter 2022 Conference Call. You may now disconnect.
WidePoint Awarded MMS Contract from Leading Beverage Bottler
https://www.accesswire.com/711742/WidePoint-Awarded-MMS-Contract-from-Leading-Beverage-Bottler
FAIRFAX, VA / ACCESSWIRE / August 11, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that it has been awarded a new Trusted Managed Mobility Services contract by a leading U.S. beverage bottler.
Under the terms of this 3 year contract, WidePoint will deliver a full suite of Managed Mobility Services (MMS) for the Beverage Bottler. The contract is valued at approximately $540,000. Additional solutions and services may be purchased under the terms of this contract.
Jin Kang, WidePoint's CEO, stated, "This contract win is another prime example of our cross-selling and upselling efforts coming to fruition. WidePoint has begun to realize these opportunities as a result of our acquisition of IT Authorities. Our strategic plan of offering an expanded portfolio of technology solutions is gaining traction with adoption from our commercial and government clients."
Jason Holloway, WidePoint's Chief Sales & Marketing Officer, noted: "WidePoint and ITA have developed a cross-selling and upselling process that helps our clients achieve efficiencies in the procurement process to realize their operational goals in mobility, security and managed technology services. Our sales pipelines are both growing and our clients are benefiting from easier access to a portfolio of products from a company they trust."
WidePoint's Subsidiary IT Authorities Awarded Three Year Managed Service Provider Contract Valued at $2.6 Million
https://www.accesswire.com/711061/WidePoints-Subsidiary-IT-Authorities-Awarded-Three-Year-Managed-Service-Provider-Contract-Valued-at-26-Million
FAIRFAX, VA / ACCESSWIRE / August 8, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new Managed Service Provider (MSP) contract by a leading U.S. beverage bottler. The contract is for three years with a total contract value of $2.6 million.
Jason Caras, CEO of IT Authorities, stated: "ITA has been working on a month-to-month basis with this bottler for a long time. This new three year Managed Services contract award is a result of our past performance of superior service delivery, and the ability for ITA to offer expanded services through WidePoint. We are honored to work with this industry leader."
Jin Kang, WidePoint's CEO, stated, "When WidePoint acquired ITA in October 2021, we did so knowing that the synergies between the companies would combine to create new opportunities. This high margin contract award reflects the types of opportunities in our expanded pipeline in the managed services, cloud, and cybersecurity markets. We look forward to working with this client on other important security and manageability initiatives."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
Soft-ex Launches Three Analyst with Three UK to Deliver Soft-ex's Innovative Digital Bill Presentment and Analytics Solution to Business Customers
https://www.soft-ex.net/post/soft-ex-launches-three-analyst-with-three-uk-to-deliver-soft-exs-innovative-digital-bill-presentment-and-analytics-solution-to-business-customers
WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced today that its subsidiary Soft-ex Communications has launched its Three Analyst platform with Three UK.
Soft-ex is now delivering its latest digital billing communications and analytics platform, Three Analyst, as an integral offering in the new Three Business Adapt portfolio, to Three UK's business customers. The platform is designed to provide Three's customers with the ability to track mobile usage and spend. It also gives bill insights to take control of communications spend via a self-serve portal and offers the option to have reports delivered straight to the clients' inbox.
"We are delighted to be working with Three UK as they recently chose our very latest design-led digital bill presentment and analytics solution," said Ian Sparling, Chief Executive Officer at Soft-ex. "Our solution will optimise customer online engagement while also delivering internal efficiencies. We look forward to growing this relationship and will continue to introduce a range of new initiatives to ensure that Three Analyst remains the market's leading solution."
Commenting for Three UK, Snehal Bhudia, Director of Business Propositions and Go To Market said, "Three Business Adapt provides businesses with an adaptable, scalable solution that's simple to use and gives much-needed cost certainty. A core value-add service of Three Business Adapt is the Three Analyst portal with its innovative, integrated analytics dashboard. This partnership between Three and Soft-ex delivers a competitive differentiator, allowing businesses to control usage and spending with a simple and digital customer experience.
Jin Kang, WidePoint's CEO, stated, "In an ever-changing business landscape, enterprises need solutions that adapt to the way we now work. With the acceleration of digitalisation, DSPs (Digital Service Providers) are now intently focused on more effective customer engagement, and that includes enhancing billing communications and self-serve portals. Soft-ex, together with Three UK, provides a best-in-class customer engagement platform for their business clients, and enhances WidePoint's positioning with enterprise clients."
About Three UK
Three UK launched in 2003 as the UK's first 3G only network, laying its foundations as the network that was born to be different. Today Three is a connectivity company that connects people to people, people to things and things to things and has 9.6 million customers. The Three network today covers 99% of the UK population and carries 28% of the UK's mobile data traffic. Three launched 5G in August 2019, is the largest holder of spectrum in the UK and has been recognised by Ookla as having the UK's fastest 5G network. Three is the only operator able to meet the International Telecoms Union (ITU) 2020 standard of 100MHz of contiguous spectrum for full 5G services. Three is part of the CK Hutchison Holdings Ltd group of companies which has mobile operations in 11 countries. Three UK employs more than 4,800 people across offices in Reading and Glasgow and 311 retail stores.
About Soft-ex
Soft-ex, part of the WidePoint Group, is a leading supplier of SaaS-based Analytics & Billing as a Service (ABaaS) that provide unique online data intelligence for Digital Service Providers and their Business & Consumer customers for fixed, mobile and PABX communications. Headquartered in Ireland, Soft-ex is proud to serve our clients and partners across the globe. For more information, visit soft-ex.net.
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
General Services Administration - tweet
https://www.meritalk.com/articles/ficam-goes-hand-in-hand-with-zero-trust-fed-icam-architect-says/?
FICAM Goes Hand-in-Hand With Zero Trust, Fed ICAM Architect Says
Ken Myers, the chief Federal ICAM Architect at the General Services Administration (GSA), explained today that the Federal Identity, Credential, and Access Management (FICAM) Architecture has similar goals to the Federal zero trust architecture (ZTA) strategy, with both of them emphasizing identity.
During an ATARC webinar today, Myers explained what he called the “FICAM focus,” which aligns with the three strategic goals of the Federal ZTA strategy: identity, multi-factor authentication, and user authorization.
“How does FICAM change with zero trust? It really doesn’t,” Myers said. “The three strategic goals are actually within the FICAM architecture. But actually, when we talk about how FICAM changes, it’s more on where are we putting our focus.”
In the past, Myers said the focus would have been more on issuing a Personal Identity Verification (PIV) card. However, he said today’s focus is more on “leveraging other types of phishing-resistant authenticators.”
In fact, Myers said GSA is currently working to develop guidance with the Office of Management and Budget and the Cybersecurity and Infrastructure Security Agency on a “phishing-resistant authenticator playbook.”
Along those lines, Myers said the Federal Chief Information Security Officer Council ICAM Subcommittee and the Federal Chief Information Officer Council Cloud and Infrastructure Community of Practice worked together this year to develop the Cloud Identity Playbook.
Meyers explained that identity is a critical enabler to zero trust and this playbook will help agencies to align strategies.
“One of the interesting mythbusters that the group discussed is the idea that an organization has to go all in on using cloud, and that’s not necessarily true. It’s not cloud or nothing,” Myers said. “And actually, most agencies that utilize a cloud service are probably using a FedRAMP identity-as-a-service, or an IDaaS, in a hybrid configuration.”
August 1, 2022 2:30 PM
WidePoint Sets Second Quarter 2022 Conference Call for Monday, August 15, 2022 at 4:30 p.m.
https://feeds.issuerdirect.com/news-release.html?newsid=7112723484157965
FAIRFAX, VA / ACCESSWIRE / August 1, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), will hold a conference call on Monday, August 15, 2022 at 4:30 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2022. Financial results will be issued in a press release prior to the call.
WidePoint's management will host the conference call, followed by a question and answer period.
Date: Monday, August 15, 2022
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Access Code: 228203
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at (949) 574-3860.
The conference call will be broadcast live and available for replay here and via the investor relations section of the company's website.
A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through Monday, August 29, 2022.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 46176
WidePoint Awarded More than $53.2 Million in Contracts During the Second Quarter of 2022
https://feeds.issuerdirect.com/news-release.html?newsid=6709541546088495
FAIRFAX, VA / ACCESSWIRE / July 19, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), announced today that it was awarded more than $53.2 million in contracts during the second quarter of 2022.
Jin Kang, WidePoint's CEO, stated: "In the second quarter of 2022, WidePoint saw more than 50 contractual actions including new awards, renewals, contract extensions and exercised option periods for our Identity and Access Management (IAM), Telecom Expense Management (TEM) and Managed Mobility Services (MMS), and IT as a Service (ITaaS) solutions. The quarter also reinforced the synergies across our divisions with cross-selling awards. Our focus on the commercial sector, with ITA taking the lead, is also producing contract wins and an expanding pipeline."
Highlights include:
33 actions under the DHS CWMS 2.0 IDIQ contract including, among others:
U.S. Department of Homeland Security Headquarters
The U.S. Coast Guard (only includes funding for 2022)
Transportation Security Administration
U.S. Immigration and Customs Enforcement
U.S. Customs and Border Protection
U.S. Courts
ITaaS contract award for three years with a U.S. Financial Institution
ITaaS contract award for three years with an American professional organization dedicated to higher education
Jason Holloway, WidePoint's Chief Sales and Marketing Officer, added: "WidePoint is excited by how DHS components are utilizing the CWMS 2.0 IDIQ contract. These organizations are providing new opportunities for our technology solutions. Q2 was also marked by increased interest in our IAM credentialing solutions. New pilot programs initiated in Q2 are underway; we are seeing that work come to fruition here in the third quarter."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Digital Billing & Analytics. For more information, visit widepoint.com.
Investor Relations:
Gateway Investor Relations
Matt Glover or John Yi
949-574-3860, WYY@gatewayir.com
SOURCE: WidePoint Corporation
Looks like it's going to have to show up in revenue before this dog will get back over the 50DMA. No uptrend until it does.
Thanks for sharing this
Today's volume and news could be a good sign for things to come.
Some BIG volume for a change.
Hear, hear!
That will keep the wolf from the door for a couple of days!
Shall I take it that from all these tweets, WYY is slowly starting the marketing process?
It's a beautiful thing!
Tweet from WYY -
SHI Recovering from, Still Investigating July 4 Weekend Malware Attack
https://www.channelfutures.com/security/shi-recovering-from-still-investigating-july-4-weekend-malware-attack
One cybersecurity source said it will be interesting to see the true impact of this attack.
SHI International says its internal- and external-facing systems are fully operational after a “professional malware attack” over the July 4th weekend.
On July 6th, SHI said it was the target of a coordinated and professional malware attack.
“Thanks to the quick reactions of the security and IT teams at SHI, the incident was swiftly identified and measures were enacted to minimize the impact on SHI’s systems and operations,” the company wrote in a blog.
SHI took some systems, including public websites and email, offline as the investigation continued.
On July 6, SHI staff regained access to email. In addition, IT teams worked on bringing systems back to full availability in a secure and reliable manner.
Continuing SHI Malware Attack Investigation
“While the investigation into the incident is ongoing – and SHI is liaising with federal bodies including the FBI and CISA – there is no evidence to suggest that customer data was exfiltrated during the attack,” the company said.
SHI also said the malware attack didn’t impact any third-party systems in its supply chain.
Customers can now log into their accounts on shi.com, with enhanced security protocols, and can resume placing and tracking orders.
“The security and integrity of SHI’s systems … is paramount to SHI,” it said. “And we continue to bring more systems online in a carefully controlled manner.”
SHI reported $12.3 billion in revenue in 2021 and has 15,000 customers globally.
Just a Matter of Time
Brad Hong is customer success manager at Horizon3ai. He said the attack didn’t surprise him. IT vendors and consultants are a leading source for attackers to pivot into corporate organizations.
“It happened at Target, at Morley, and most recently, an increase in a targeted effort towards telehealth providers,” he said.
Hong said it will be interesting to see the true impact of the attack on SHI, its confidential/proprietary data and its customers.
“It is now more important than ever for SHI to take on the responsibility of finding any remaining backdoors or persistent code, fix and patch them, and subsequently spend the energy to run frequent pen tests to not only test resiliency, but also to verify remediation of the attack in question,” he said.
WidePoint Awarded $73.4 Million Task Order by the United States Coast Guard for Cellular Wireless Managed Services
https://finance.yahoo.com/news/widepoint-awarded-73-4-million
FAIRFAX, VA / ACCESSWIRE / July 13, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), announced today a new Task Order award from the U.S. Coast Guard under the U.S. Department of Homeland Security (DHS) Cellular Wireless Management Services 2.0 BPA. The new Task Order award includes a total period of performance of May 1, 2022 through October 31, 2026 with a total ceiling of $73.4 million if all periods are exercised. The Task Order has an obligated base period of performance of six months with funding of $7.9 million.
Jin Kang, WidePoint's CEO, stated: "WidePoint is excited to see our work with the U.S. Coast Guard extended until October 2026. We remain committed to ensuring that the U.S. Coast Guard and other DHS components utilizing the DHS CWMS 2.0 IDIQ contract achieve increased accountability, operational efficiency and maximizing resource investment."
Todd Dzyak, President and CEO of WidePoint Integrated Solutions Corporation, added: "The U.S. Coast Guard is realizing significant benefits from WidePoint's Managed Mobility Services (MMS) solution, including among others: Asset and service management; Full lifecycle support; Transparency into technical performance; Cost savings; Enhanced security for mobile workers. The WidePoint team thanks the U.S. Coast Guard for their inspired collaboration and commitment to this contract and program."
Another tweet by WidePoint -
Justice Department identifies disrupting ransomware and cyberattacks as key objective in new strategic plan
https://www.fedscoop.com/justice-department-identifies-disrupting-ransomware-and-cyberattacks-as-key-objective-in-new-strategic-plan
The Department of Justice said Friday that it will make disrupting ransomware attacks and prosecuting cybercriminals a key objective as part of a new strategic plan.
In a statement, the department said it intends to beef up its cybersecurity technological capabilities and to more aggressively pursue those who put U.S. government information or assets at risk.
“The Department will bring to justice those who commit cyberattacks, whether they are lone actors, elements of transnational organized crime groups, or acting on behalf of nation states or terrorist groups. In parallel, the Department will work to disrupt and dismantle the online infrastructure that facilitates cyberattacks and to seize the criminal proceeds of such crimes,” the DOJ said.
It added: “To accomplish these goals, the Department will enhance its own technological and investigative capabilities.”
The Justice Department aims to improve its ransomware attack response by September 2023 by promising to significantly increase the percentage of reported ransomware incidents from which investigative actions are conducted within 72 hours and by increasing the number of ransomware matters in which seizures or forfeitures are occurring by 10%.
Despite cyberattacks being a common problem in the past decade, it is only the series of massive attacks last year on the computer systems of the federal government, the Colonial Pipeline, and the meat producer JBS that have brought mainstream awareness to the need for increased cybersecurity within the government and the private sector.
The DOJ will also enhance cybersecurity and fight cybercrime through four key strategies: deterring, disrupting, and prosecuting cyber threats; strengthening intergovernmental, international, and private-sector partnerships to fight cybercrime; safeguarding Justice Department data and information; and enhancing cyber resilience within the private sector and other government agencies.
“The Department will also use available authorities, including the False Claims Act, to hold accountable anyone who puts U.S. government information or assets at risk by knowingly providing deficient cybersecurity products or services, misrepresenting their cybersecurity practices or protocols, or violating obligations to monitor and report cybersecurity incidents and breaches,” the strategic plan said.
---------------------------------------------------------------------------------------------------------
Included with the tweet -
SECURE IDENTITY & ACCESS MANAGEMENT
WidePoint-ORC Solutions
Provide the Trust Behind Your Digital Identity.
WidePoint-ORC delivers Identity and Access Management (IAM) Solutions to government and enterprise clients. WidePoint Identity, Credential, and Access Management (ICAM) Solutions provide DoD ECA-grade PKI compliance ensuring maximum identity security.
Discover how WidePoint ORC Solutions can secure your digital business:
Rising threats spark US scramble for cyber workers
https://thehill.com/policy/cybersecurity/3544472-rising-threats-spark-us-scramble-for-cyber-workers
The federal government and private sector are facing increasing pressure to fill key cyber roles as high-profile attacks and international threats rattle various U.S. sectors.
Workforce shortages have been a long-running issue in cyber, but they have taken on renewed importance amid rising Russian threats stemming from the war in Ukraine.
“It’s an issue that the government faces as well as the private sector, state and local communities,” Iranga Kahangama, a cyber official at the Department of Homeland Security (DHS), said at a House hearing this week.
Kahangama said the shortage has been a top priority for his agency, which conducted a 60-day hiring sprint last summer to hire cybersecurity professionals. Out of 500 job offers DHS sent out, the department was able to hire nearly 300 new cyber workers.
“It was the largest single hiring event we’ve had so far,” Kahangama told lawmakers on a House Homeland Security subcommittee on intelligence and counterterrorism.
The focus on labor shortages comes as the U.S. has been on high alert recently, with intelligence officials warning about possible Russian cyberattacks targeting key government institutions, elections and critical infrastructure, including the energy and finance sectors.
Executives in the private sector are also feeling the pressure to hire highly skilled workers to combat increasing threats from ransomware and other online attacks.
“There absolutely is a shortage for cybersecurity labor across all industries,” said Greg Valentine, a senior vice president at the cybersecurity firm Industrial Defender.
The cyber executive said he’s seen a spike in demand for cyber workers, which he mainly attributes to recent events such as the war in Ukraine, the 2021 Colonial Pipeline ransomware attack and the 2020 SolarWinds hack.
Valentine said whenever there is a security breach that becomes public, executives at companies tend to panic and scramble to get resources and hire more cybersecurity professionals to ensure that their businesses are secure.
He added that it’s not necessarily the breach itself that motivates executives to invest more in cybersecurity, but more the publicity surrounding the hack that pushes industry leaders to take action.
As far as alleviating the current labor shortage — which is caused by demand and growth in cybersecurity outpacing the supply of workers — Valentine warned it will take time.
“It’s not an overnight process,” he said.
Experts who spoke to The Hill said one way to increase the supply of cyber workers is to incentivize students to choose that career path and for the education system to offer more cybersecurity courses and tech-related programs at colleges and universities.
Reed Loden, vice president of security at tech company Teleport, said schools should offer more specialized cyber programs, including boot camps and internships specifically tailored to the field.
Aside from education, Loden said more effort should be placed on recruiting, training and retaining young talent — though he acknowledged that many, including himself, are focused more on getting seasoned workers in a highly competitive market.
“Good talent is already taken,” Loden said
“I would love to be able to hire junior security engineers and mentor them,” he added, “but because I have urgent needs, it’s hard to do right now.”
The labor shortage has encouraged government and the private sector to collaborate more, including on sharing critical information to combat growing cyber threats.
In the past year, the federal government has introduced several key initiatives that encourage public-private partnerships in cyberspace.
For instance, the Cybersecurity and Infrastructure Security Agency (CISA), a subdivision of DHS, launched the Joint Cyber Defense Collaborative in August 2021 in an effort to defend the U.S. against cyberattacks.
CISA has partnered with several companies in the private sector to push forward the effort, which includes implementing nationwide cyber defense strategies, sharing information and mitigating the risks of cyberattacks.
US adds 372,000 jobs in June as market stays strong
Pentagon looks to recoup money from Flynn for unsanctioned foreign payments: report
Even the White House has pushed for such partnership. Last spring, President Biden signed an executive order aimed to strengthen and secure federal government networks and critical infrastructure against cyber threats.
The order introduced several key initiatives including facilitating threat information sharing between the government and the private sector.
“Because there’s such a shortage of talent, we need to be working together to defend our networks and systems,” Loden said.
The market seems to think, not much. I hope they're wrong. This has been a long incubation.
What has JK got up his sleeve?
WidePoint Increases Working Capital Line of Credit to 7 Million
https://finance.yahoo.com/news/widepoint-increases-working-capital-line
Jin Kang, WidePoint's CEO, stated: "While we have not borrowed under our revolving credit facility, we believe that securing additional borrowing capacity places us in a stronger financial position to fund our anticipated growth."
Fidelity shows the first trade going off at 10:33. 2000 shares in that minute.
Odd.
It has opened but was slow.
WYY is not selling any stock, today.
The sales page remains closed.
WidePoint to Present at the LD Micro Invitational XII on June 8th, 2022
https://www.widepoint.com/widepoint-to-present-at-the-ld-micro-invitational-xii-on-june-8th-2022/
Fairfax, VA – June 1, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), will be attending the LD Micro Invitational XII from June 7-9, 2022.
WidePoint management is scheduled to present on Wednesday, June 8, at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) with one-on-one meetings held throughout the event.
To receive additional information or to schedule a one-on-one meeting with WidePoint management, please contact Gateway Group at WYY@gatewayir.com or 949-574-3860.
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Digital Billing & Analytics. For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WYY@gatewayir.com
WidePoint to Attend Ingram Micro Cloud Summit 22
https://finance.yahoo.com/news/widepoint-attend-ingram-micro-cloud
FAIRFAX, VA / ACCESSWIRE / May 12, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), announced today that Soft-ex and IT Authorities, subsidiaries of WidePoint, will be attending Ingram Micro Cloud Summit 22 in Miami on May 17-19, 2022.
Soft-ex has been selected by Ingram Micro as a value add partner for its Microsoft Teams propositions and will be showcasing the company's Voice Analytics & Digital Billing solution.
Soft-ex CEO Ian Sparling stated: "We are delighted to be named an Ingram Micro partner and also recently a Microsoft Gold partner. Our SaaS solution has been identified as satisfying a growing requirement to optimize the Teams Voice experience. With 2022 being defined as the ‘year of the phone' for Microsoft, we and Ingram Micro are well positioned to take advantage of the uptake in Teams Voice and meet the need for more centralized visibility and advanced self-serve analytics. We look forward to deepening our relationship with the Ingram sales & channel community at Cloud Summit 22 and are excited to collaborate closely with them to offer compelling solutions and enhanced digital experiences for our joint clients."
IT Authorities has been an Ingram Micro partner for 15 years and is a Microsoft Gold partner. Jason Caras, CEO of IT Authorities noted: "We are excited to develop opportunities with Soft-ex and Ingram Micro that maximize our unique offerings. Due to our successful partnership with Ingram Micro, we are able to provide comprehensive IT infrastructure solutions that evolve with our clients' business requirements."
WidePoint's CEO Jin Kang added: "The strategic alignment of Soft-ex and IT Authorities is just one example of how our company's subsidiaries, under the WidePoint umbrella, are working together to forge new business opportunities. Ingram Micro and Microsoft are both partnerships that will expand the impact of WidePoint's solutions."
About WidePoint
Update: IT Authorities and WidePoint to attend OhioX Gov Tech Summit
https://www.itauthorities.com/blog/news/it-authorities-widepoint-attend-ohiox-govtech-summit-update/
May 3, 2022 – WidePoint’s Barton Dunn, Director of Client Services, along with IT Authorities’ Gene Mobley, Sr Business Technology Advisor, and David Williamson, Vice President of Business Services, will be attending the 2022 OhioX GovTech Summit on May 18, 2022. “As leaders in cybersecurity, it’s imperative that we participate in this virtual summit,” stated Mr. Dunn. Mr. Mobley agreed, “Due to the industry-leading cybersecurity capabilities of our parent company, Widepoint, we are expanding our product offering to our commercial customers. We look forward to understanding issues facing the industry and listening to the experts who are sharing their knowledge at this conference.”
IT Authorities & WidePoint Complete Depot Services Migration to Ohio Facility
https://www.itauthorities.com/blog/news/it-authorities-widepoint-itms-depot-solution-migration/
May 2, 2022
IT Authorities is pleased to announce that we have completed the depot services migration with our parent company, WidePoint. “Our new depot service solution combines WidePoint’s secure facility and ITMS™, the proprietary technology management system,” said Jason Caras, CEO of IT Authorities. “Our customers have complete control of their assets, and, the seamless integration allows us to track every aspect of those assets including lifecycle, updates, security, usage and data costs.”
“We’re pleased to complete this next phase of integration with IT Authorities,” said Todd Dzyak, President of WISC. “For 15 years, our secure depot and the accompanying ITMS™ offering has saved our customers millions in asset control and security management. We are always evolving and improving the system so it can constantly deliver granular insights to our customers. Now we can expand this integral solution to IT Authorities and their customers.”
Find out how much money you can save with our ITMS™ Depot Solution
-----------------------------------------------------------------------------------------------
Something to aid the speculation...
So, time to speculate... LOL
Revenue of $26.9M would show Q over Q gain of 10% and would generate a year over year for the quarter gain of 30%. Number comparisons look better now that the census anomaly has fallen off the table.
WidePoint Sets First Quarter 2022 Conference Call for Monday, May 16, 2022 at 4:30 p.m. ET
https://finance.yahoo.com/news/widepoint-sets-first-quarter.html
Mon, May 2, 2022, 2:00 PM
FAIRFAX, VA / ACCESSWIRE / May 2, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), will hold a conference call on Monday, May 16, 2022 at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2022. Financial results will be issued in a press release prior to the call.
WidePoint's management will host the conference call, followed by a question and answer period.
Date: Monday, May 16, 2022
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Access Code: 384243
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at (949) 574-3860.
The conference call will be broadcast live and available for replay here and via the investor relations section of the company's website.
A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through Monday, May 30, 2022.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 45316
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Digital Billing & Analytics. For more information, visit widepoint.com.
The price action on this stock is about schizophrenic.
Keynotes, Educational Panels and 88 Companies to Present at the Planet MicroCap Showcase on May 3-5, 2022 at Bally's Hotel & Casino in Las Vegas, NV
https://finance.yahoo.com/news/keynotes-educational-panels-88-companies-130000841.html
LOS ANGELES, CA / ACCESSWIRE / April 27, 2022 / SNN Network presents the Planet MicroCap Showcase taking place on May 3-5, 2022, where 88 MicroCap public and private companies will be presenting at Bally's Hotel & Casino in Las Vegas, NV.
Event website: www.PlanetMicroCapShowcase.com
The Planet MicroCap Showcase begins on Tuesday, May 3, 2022 with the "MicroCap Investing Workshop" starting at 12:00pm PST and featuring well-known financial influencers, investors, fund managers, and key opinion leaders, followed by 88 MicroCap public and private company presentations on Wednesday, May 4, 2022, and 1x1 meetings on Thursday, May 5, 2022.
If you would like to attend and participate in the Planet MicroCap Showcase, please register here to attend this IN-PERSON CONFERENCE and book 1x1 meetings with presenting companies: https://planetmicrocapshowcase.com/signup
The "MicroCap Investing Workshop" and Full Agenda are available here: https://planetmicrocapshowcase.com/agenda
On Wednesday, May 4, 2022, the following issuers will be presenting their companies in-person. Below are the webcasting links to view those presentations if you can't join us in Las Vegas.
Company
Ticker
Webcast Link
3DX Industries, Inc.
(OTC PINK:DDDX)
https://www.webcaster4.com/Webcast/Page/2862/45035
AirTest Technologies (VIRTUAL PRESENTATION)
(TSXV:AAT)
(OTC PINK:AATGF)
https://www.webcaster4.com/Webcast/Page/2862/45125
Astra Exploration Inc.
(TSXV:ASTR)
https://www.webcaster4.com/Webcast/Page/2862/45096
Athabasca Minerals Inc.
(TSXV:AMI)
https://www.webcaster4.com/Webcast/Page/2862/45084
Auddia Inc.
(NASDAQ:AUUD)
https://www.webcaster4.com/Webcast/Page/2862/45072
Ayro, Inc.
(NASDAQ:AYRO)
https://www.webcaster4.com/Webcast/Page/2862/45098
BANXA Holdings Inc.
(TSXV:BNXA)
(OTCQX:BNXAF)
https://www.webcaster4.com/Webcast/Page/2862/45116
BioCorRx Inc.
(OTCQB:BICX)
https://www.webcaster4.com/Webcast/Page/2862/45086
Bion Environmental Technologies, Inc.
(OTCQB:BNET)
https://www.webcaster4.com/Webcast/Page/2862/45043
Bitmine Immersion Technologies
(OTC PINK:BMNR)
https://www.webcaster4.com/Webcast/Page/2862/45272
Boardwalktech
(TSXV:BWLK)
(OTCQB:BWLKF)
https://www.webcaster4.com/Webcast/Page/2862/45271
Camplify Holdings Limited (VIRTUAL PRESENTATION)
(ASX:CHL)
https://www.webcaster4.com/Webcast/Page/2862/45104
Candente Copper Corp.
(TSX:DNT)
(OTC PINK:CCOXF)
https://www.webcaster4.com/Webcast/Page/2862/45073
ContraFect Corporation (VIRTUAL PRESENTATION)
(NASDAQ:CFRX)
https://www.webcaster4.com/Webcast/Page/2862/45047
Covalon Technologies Ltd.
(TSXV:COV)
(OTCQX:CVALF)
https://www.webcaster4.com/Webcast/Page/2862/45114
CURE Pharmaceutical
(OTCQB:CURR)
https://www.webcaster4.com/Webcast/Page/2862/45112
DATA Communications Management Corp.
(TSX:DCM)
(OTCQX:DCMDF)
https://www.webcaster4.com/Webcast/Page/2862/45075
Delic Holdings Corp.
(CSE:DELC)
(OTCQB:DELCF)
https://www.webcaster4.com/Webcast/Page/2862/45080
DMG Blockchain
(TSXV:DMGI)
(OTCQB:DMGGF)
https://www.webcaster4.com/Webcast/Page/2862/45118
Duos Technologies Group, Inc.
(NASDAQ:DUOT)
https://www.webcaster4.com/Webcast/Page/2862/45079
Eat Well Group
(CSE:EWG)
(OTC PINK:EWGFF)
https://www.webcaster4.com/Webcast/Page/2862/45107
Edge Total Intelligence Inc.
(TSXV:CTRL)
https://www.webcaster4.com/Webcast/Page/2862/45074
ElectraMeccanica Vehicles Corp.
(NASDAQ:SOLO)
https://www.webcaster4.com/Webcast/Page/2862/45083
Exploits Discovery Corp.
(CSE:NFLD)
(OTCQX:NFLDF)
https://www.webcaster4.com/Webcast/Page/2862/45056
FingerMotion, Inc.
(NASDAQ:FNGR)
https://www.webcaster4.com/Webcast/Page/2862/45032
First Au Limited
(ASX:FAU)
https://www.webcaster4.com/Webcast/Page/2862/45081
FLYHT Aerospace Solutions Ltd.
(TSXV:FLY)
(OTCQX:FLYLF)
https://www.webcaster4.com/Webcast/Page/2862/45088
Forbidden Spirits & Distilling
(TSXV:VDKA)
https://www.webcaster4.com/Webcast/Page/2862/45097
Fortitude Gold Corp.
(OTCQB:FTCO)
https://www.webcaster4.com/Webcast/Page/2862/45051
Galaxy Gaming, Inc.
(OTCQB:GLXZ)
https://www.webcaster4.com/Webcast/Page/2862/45085
Geodrill Limited
(TSX:GEO)
https://www.webcaster4.com/Webcast/Page/2862/45057
Guardion Health Sciences, Inc.
(NASDAQ:GHSI)
https://www.webcaster4.com/Webcast/Page/2862/45120
HAVN Life Sciences Inc.
(CSE:HAVN)
(OTC PINK:HAVLF)
https://www.webcaster4.com/Webcast/Page/2862/45060
HS GovTech Solutions Inc.
(CSE:HS)
(OTCQB:HDSLF)
https://www.webcaster4.com/Webcast/Page/2862/45036
HeliosX Lithium & Technologies
(TSXV:HX)
https://www.webcaster4.com/Webcast/Page/2862/45268
Hemisphere Energy Corporation
(TSXV:HME)
(OTCQX:HMENF)
https://www.webcaster4.com/Webcast/Page/2862/45095
Honey Badger Silver Inc.
(TSXV:TUF)
(OTCQB:HBEIF)
https://www.webcaster4.com/Webcast/Page/2862/45111
Infinity Gaming Media
Private Company
https://www.webcaster4.com/Webcast/Page/2862/45352
Intouch Insight
(TSXV:INX)
(OTCQX:INXSF)
https://www.webcaster4.com/Webcast/Page/2862/45070
Issuer Direct Corporation (VIRTUAL PRESENTATION)
(NYSE American:ISDR)
https://www.webcaster4.com/Webcast/Page/2862/45123
Kintara Therapeutics, Inc.
(NASADAQ:KTRA)
https://www.webcaster4.com/Webcast/Page/2862/45089
Kodiak Copper Corp.
(TSXV:KDK)
(OTCQB:KDKCF)
https://www.webcaster4.com/Webcast/Page/2862/45040
Lake Resources
(ASX: LKE)
(OTCQB:LLKKF)
https://www.webcaster4.com/Webcast/Page/2862/45061
MamaMancini's Holdings, Inc. (VIRTUAL PRESENTATION)
(NASDAQ:MMMB)
https://www.webcaster4.com/Webcast/Page/2862/45094
Marijuana Company of America, Inc.
(OTC PINK:MCOA)
https://www.webcaster4.com/Webcast/Page/2862/45052
Messaben, Inc.
(OTC PINK:CEHD)
https://www.webcaster4.com/Webcast/Page/2862/45038
Mill City Ventures III, Ltd.
(OTCQB:MCVT)
https://www.webcaster4.com/Webcast/Page/2862/45117
Moving iMage Technologies, Inc.
(NYSE American:MITQ)
https://www.webcaster4.com/Webcast/Page/2862/45082
Nanalysis Scientific
(TSXV:NSCI)
(OTCQX:NSCIF)
https://www.webcaster4.com/Webcast/Page/2862/45121
Nemaura Medical Inc. (VIRTUAL PRESENTATION)
(NASDAQ:NMRD)
https://www.webcaster4.com/Webcast/Page/2862/45042
NEXGEL, Inc.
(NASDAQ:NXGL)
https://www.webcaster4.com/Webcast/Page/2862/45055
Nickel Creek Platinum Corp.
(TSX:NCP)
(OTCQB:NCPCF)
https://www.webcaster4.com/Webcast/Page/2862/45045
Noram Lithium Corp.
(TSXV:NRM)
(OTCQB:NRVTF)
https://www.webcaster4.com/Webcast/Page/2862/45066
OneSoft Solutions Inc.
(TSXV:OSS)
(OTCQB:OSSIF)
https://www.webcaster4.com/Webcast/Page/2862/45062
OverActive Media
(TSXV:OAM)
(OTCQB:OAMCF)
https://www.webcaster4.com/Webcast/Page/2862/45050
Petros Pharmaceuticals, Inc. (VIRTUAL PRESENTATION)
(NASDAQ:PTPI)
https://www.webcaster4.com/Webcast/Page/2862/45053
PetVivo Holdings, Inc.
(NASDAQ:PETV)
https://www.webcaster4.com/Webcast/Page/2862/45071
Pressure BioSciences, Inc.
(OTCQB:PBIO)
https://www.webcaster4.com/Webcast/Page/2862/45067
ProPhase Labs, Inc. (VIRTUAL PRESENTATION)
(NASDAQ:PRPH)
https://www.webcaster4.com/Webcast/Page/2862/45058
ProStar Holdings Inc.
(OTCQX:MAPPF)
(TSXV:MAPS)
https://www.webcaster4.com/Webcast/Page/2862/45039
Pyrogenesis Canada
(NASDAQ:PYR)
(TSX:PYR)
https://www.webcaster4.com/Webcast/Page/2862/45113
Quest Patent Research Corporation
(OTCQB:QPRC)
https://www.webcaster4.com/Webcast/Page/2862/45119
Radiopharm Technologies (VIRTUAL PRESENTATION)
(ASX:RAD)
https://www.webcaster4.com/Webcast/Page/2862/45124
Red Cat Holdings, Inc.
(NASDAQ:RCAT)
https://www.webcaster4.com/Webcast/Page/2862/45115
Redishred Capital Corp.
(TSXV:KUT)
https://www.webcaster4.com/Webcast/Page/2862/45108
Renoworks Software Inc.
(TSXV:RW)
https://www.webcaster4.com/Webcast/Page/2862/45041
Reyna Gold Corp.
(TSXV:REYG)
(OTCQB:REYGF)
https://www.webcaster4.com/Webcast/Page/2862/45087
Reyna Silver Corp.
(TSXV:RSLV)
(OTCQX:RSNVF)
https://www.webcaster4.com/Webcast/Page/2862/45034
Sabio Holdings Inc.
(TSXV:SBIO)
https://www.webcaster4.com/Webcast/Page/2862/45046
Satori Resources Inc.
(TSXV:BUD)
https://www.webcaster4.com/Webcast/Page/2862/45090
Silver Scott Digital Holdings, Inc.
(OTC PINK:SILS)
https://www.webcaster4.com/Webcast/Page/2862/45092
Skye Bioscience
(NASDAQ:SKYE)
https://www.webcaster4.com/Webcast/Page/2862/45269
Smart Employee Benefits
(TSXV:SEB)
https://www.webcaster4.com/Webcast/Page/2862/45078
Society Pass Incorporated
(NYSE American:SOPA)
https://www.webcaster4.com/Webcast/Page/2862/45270
Solar Integrated Roofing Corp.
(OTC PINK:SIRC)
https://www.webcaster4.com/Webcast/Page/2862/45109
Starfleet Innotech, Inc.
(OTC PINK:SFIO)
https://www.webcaster4.com/Webcast/Page/2862/45122
SurgePays, Inc.
(NASDAQ:SURG)
https://www.webcaster4.com/Webcast/Page/2862/45091
Swarmio Media Holdings Inc.
(CSE:SWRM)
https://www.webcaster4.com/Webcast/Page/2862/45054
The Gummy Project
(CSE:GUMY)
https://www.webcaster4.com/Webcast/Page/2862/45194
Trillium Gold Mines Inc. (VIRTUAL PRESENTATION)
(TSXV:TGM)
(OTCQX:TGLDF)
https://www.webcaster4.com/Webcast/Page/2862/45110
US Gold Corp
(NASDAQ:USAU)
https://www.webcaster4.com/Webcast/Page/2862/45320
Vicinity Motor Corp.
(NASDAQ:VEV)
https://www.webcaster4.com/Webcast/Page/2862/45049
Vision Marine Technologies Inc.
(NASDAQ:VMAR)
https://www.webcaster4.com/Webcast/Page/2862/45059
VolitionRx Limited
(NYSE American:VNRX)
https://www.webcaster4.com/Webcast/Page/2862/45076
Western Exploration Inc.
(TSXV:WEX)
(OTCQX:WEXPF)
https://www.webcaster4.com/Webcast/Page/2862/45093
Westwater Resources, Inc.
(NYSE American:WWR)
https://www.webcaster4.com/Webcast/Page/2862/45077
WidePoint Corporation
(NYSE American:WYY)
https://www.webcaster4.com/Webcast/Page/2862/45044
World Copper Ltd.
(TSXV:WCU)
(OTCQB: WCUFF)
https://www.webcaster4.com/Webcast/Page/2862/45037
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Found this on Twitter.
Looks like Zero Trust is going to be used extensively in the US and maybe round the world.
Nice series Methinks. Thanks.
Dept. of Ed CIO Says Agency Prioritizing Control Pillar with TMF Zero Trust Funding
https://www.meritalk.com/articles/dept-of-ed-cio-says-agency-prioritizing-control-pillar-with-tmf-zero-trust-funding
The Department of Education was one of three agencies to receive funding from the General Service Administration’s (GSA) Technology Modernization Fund (TMF) for Zero Trust services, and the agency’s chief information officer Steven Hernandez said the agency is prioritizing the control pillar of the zero trust architecture with the funds.
Hernandez detailed how the Department of Education was utilizing the $20 million awarded by the TMF program at an April 19 Federal News Network webinar. Hernandez said that since the agency’s work on a zero-trust architecture had already put the agency on solid ground for the Identity Credential, and Access Management (ICAM) pillar and the data pillar, the control was the logical next step.
“We were actually in a great place,” Hernandez said. “We were one of the early adopters of a data lake for cybersecurity. And so for us when we looked at the future, we said we really need to focus on the control plane and a lot of the technologies and processes that enabled this constant authentication that we need for zero trust and the agility that takes place there.”
He emphasized that since there is no one-stop zero trust product, the agency has begun by buying products that enable the agency to operate at speed.
“When anybody says, ‘Hey, I’m buying zero trust,’ that’s the immediate red flag,” Hernandez said. “They probably need to read a little bit more about what zero trust is and what we’re doing.”
“For us – because of the landscape that I painted before – when we were thinking about that control fabric, it was [focused on] how do we get the agility to operate at the speed of the machine with technology that we can buy right now … and then how do we get that integrated into our environment,” he added.
Hernandez said that has led the agency to pursue Secure Access Service Edge technologies for cloud-based agility, ultimately taking the tech that used to be stored in data centers, virtualizing it, and moving it into the cloud.
Additionally, Hernandez said the agency is working on the trust engine for the zero trust architecture and that has led it to pursue security, orchestration, automation, and response (SOAR) technologies, which would utilize artificial intelligence and machine learning to give alerts to potential anomalous activities and categorize them.
“In the SOAR world, it’s the beginnings of this idea of using machine learning AI to get all this data that you’re going to start to consume from that control fabric and then start to make decisions on it,” he said. “[For example] I start with 100,000 potential indicators. Well, that SOAR capability is going to distill that down to maybe 87, and then my analysts are actually going to look at that.”
He said the piece that technology can’t be used for is the culture aspect, which is the other area the department is working on.
“The third piece we looked at is building out an organization-wide program management capacity to really manage the cultural shift of zero trust,” he said. “Look at our entire system portfolio and understand, ‘I’ve got approximately 200 major systems throughout the department. How do I take each and every one of those and re-architect them so that they’re moving toward zero trust, consuming some of this great technology?’”
Hernandez said the application process involved a Shark Tank-style pitch to the TMF board and said that the agency is in the process of getting the funding upfront.
“We put together a proposal did the Shark Tank pitch with the GSA board, and we’re exceptionally fortunate to be one of the three departments that were selected for zero trust funds,” he said. “All three of us are in the process of getting this infusion of cash upfront. That’s going to help us really drive forward quickly to meet the zero trust goals.”
Government agencies move to a zero trust model with application security testing.
https://www.meritalk.com/resource/zero-trust-model-application-security-testing/
After years of increasing and sophisticated cyber incidents – from the SolarWinds and Colonial Pipeline breaches to the log4j vulnerability – the White House, Office of Management and Budget, and the Department of Homeland Security have put government mandates in place to address broad cyber risks. Mandates such as OMB M-22-09 and CISA BODs 20-01 and 22-01 are moving the U.S. Government to a Zero Trust model, where no user or system is automatically trusted. Federal agencies need to consider dedicated application security testing in addition to ongoing compliance requirements.
Learn how Synack365 gives organizations on-demand access to the most trusted worldwide network of security researchers. Backed by a vetted community of ethical researchers for continuous penetration testing and vulnerability management, Synack protects more than 30 government organizations with application security testing capabilities that deliver better results at scale than traditional methods.
HHS Official: Communication, Collaboration High on Zero Trust Priority List
https://www.meritalk.com/articles/hhs-official-communication-collaboration-high-on-zero-trust-priority-list/?
The long road to implementing zero trust security architectures may be driven by top-down policy directives and prioritizing technology pillars, but the art and science of communication and collaboration are showing up as vital inputs into organizing Federal agency technologists and network users to move toward the government’s zero trust goals.
Those were a few of the top-line takeaways from Gerald Caron – who is Assistant Inspector General/Chief Information Officer, Office of Management and Policy, at the U.S. Department of Health and Human Services – during a keynote address at ATARC’s Federal Security conference on April 14.
On the communications front, Caron hammered home the value of engaging with agency officials and employees about the goals of zero trust security and what the migration will accomplish.
“One of my strategic things is communications,” he said. “It’s very important how we talk to [agency employees] about zero trust.”
“We talk about what data they need, how they want to use it,” he said. “I get an inventory of data from them … then I tell them about the benefits.” He advised keeping network users at the forefront of the larger effort.
“Make users part of your time,” Caron said. “IT is an enabler of the mission … those are the users, the ‘fans in the stands’ that you want to make happy.”
On the technology front, Caron talked about the value of collaboration with vendors and making sure they understand the agency’s needs, and that they then have an opportunity to address those through presentations.
“In order to be successful, we’ve got to partner,” he said. “We can only learn from each other.”
Caron said vendors interesting in helping HHS with zero trust are asked about the ability to integrate their products and services with the infrastructure that the agency already uses. “Lots of us already have tools,” he said, so an important consideration is “how do you work with other products.”
I give the homework assignment to the vendors, “who can help me fill those gaps,” he said.
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