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Very possible IMO. Could also easily hit .25-.50 if they sign some big service contracts along with Partnership deal & Patent approvals. Also, after reviewing the latest 10Q the CDs remaining mature in July 2019. So, it appears they have already started paying off some or most of this debt.
The info below is most current from their last financial filing (10Q) ending on 31 Dec 2018. Total CD is $575,249 not including interest. Also, the O/S was 68,628,812 on 31 Dec 2018. So, that is a increase of 38,894,441 O/S. If all those shares were converted at PPS of .01 then $389K of the debt has been reduced. Some of those shares were converted at higher PPS since the stock was over .20 a few months back. Also, not all the CD debt is due now. I would have to look at each note to see what dates they mature on. My analysis, most of the CD debt is paid off for 2018. This could be the last tranche before the next tranche is issued to pay off the remaining 2018 CD debt if any remains. Could be the reason they updated the Share Structure on OTC Markets.
Convertible note payable, net, 10% 82,500 Convertible note payable, net, 10% 85,000 Convertible note payable, net, 10% 82,500 Convertible note payable, net, 10% 73,819 Convertible note payable, net, 12% 52,529 Convertible note payable, net, 9% 63,986 Convertible note payable, net, 9% 71,199 Convertible note payable, net, 10% 19,917 Convertible note payable, net, 10% 43,799
Note: They issued a new CD note for $107,000 in Feb of 2019 which is due Feb 2020.
FOR VALUE RECEIVED, IRONCLAD ENCRYPTION CORPORATION (the “Company”) promises to pay to the order of ONE44 CAPITAL LLC and its authorized successors and permitted assigns (" Holder "), the aggregate principal face amount of One Hundred Seven Thousand Dollars exactly (U.S. $107,000.00) on February 14, 2020 (" Maturity Date ") and to pay interest on the principal amount outstanding hereunder at the rate of 10% per annum commencing on February 14, 2019.
https://www.otcmarkets.com/filing/conv_pdf?id=13237147&guid=t523UFN_K2X6Sth
$IRNC
I'm not sure if this note or notes are finished. The O/S has increased by 31M shares. Lets say the conversion price average was .01. That is $310,000 of debt paid off. I'll have to take a look at there Quarterly Report to see how much convertible debt is on the books. GLTU
$IRNC
I agree as long as the O/S doesn't keep going higher & the company starts releasing some news. It has been over 4 months since they last released news. This is a concern of mine.
$IRNC
The float hasn't been updated. The O/S has increased 31,086,871 shares within a month. The O/S was 76,436,382 on 15 Feb. Insiders own 46,508,388. So, the max float would be 61,014,865 if none of the newly issued shares aren't restricted. The PPS has suffered immensely due to the note conversions & the company remaining silent. The share structure is still very healthy & low even with the increase in O/S. The PPS has closed under .01 for a few days now. If it continues for 30 consecutive days then the company will be downgraded from OTCQB status to OTC Pink Status. Hopefully, the company updates its shareholders on current developments (Contracts, Patents, Acquisitions, Partnerships, etc.). The longer the silence means nothing good happening here & I'll take my losses elsewhere. GLTA
$IRNC
I was wrong. Note Holders dumping again. FML - It has been over four months since we have heard from the company.
$IRNC
I'm holding a core position as well. This could be a life changer if they have financing to start Phase III trials.
$NSPX
That all changes if we ever get news or filing from the company. Otherwise, we stay under .01 unless a trading group enters & takes it higher.
Yes, please. I believe conversions from the loan sharks have stopped or are very minimal now.
News will send this flying especially since conversations have stopped. Float is tiny.
$IRNC
LEVEL II is thin. Just need some buying pressure. Dilution has stopped the past few trading days.
$IRNC
Q&A with IronClad Encryption CTO and Co-founder Daniel Lerner
Security is on everyone's mind. According to industry research firm Gartner, worldwide security spending will reach $96 billion in 2018. In the following Q&A, IronClad Encryption co-founder Daniel Lerner reveals the biggest threat facing companies today. He also explains how IronClad's unique technology protects organizations.
Why are today’s organizations so vulnerable to data breaches?
The biggest problem is that the existing encryption systems are relatively difficult to implement, so, in many cases, they don't get implemented. You may have data which is secured in one system which you want to switch to another system, and in the process of transferring the data you decrypt it, and forget to erase the decrypted version. Or, you may want to make a backup and put it into your data warehouse which is supposed to be a secure facility. You don't encrypt it while it's in storage, and there is a data breach into the secure facility. These kinds of things result in security breaches that could be avoided. Today’s organizations need easier-to-use systems that have less friction at the the operation level.
We hear a lot about the importance of encryption as a defense mechanism. Yet, hackers are also stealing encrypted data. How are they able to get to the encrypted data?
The most obvious thing that happens is the data key is given away, accidentally, usually through a phishing attack.
If a hacker gets the key, what can he do with it?
If you're able to get the key, you have access to the associated encrypted data. Most systems use a single key.
The most difficult breaches are called brute force attacks. They occur when the encryption actually gets broken which exposes your entire database. Even though you have your data encrypted, someone has used a more powerful computer and broken the single key which protects your data. That kind of attack is completely unstoppable using single-key encryption.
IronClad uses temporary keys and breaks up your data into little tiny packets. Each of those packets is assigned a key. Even if someone were able to guess one of the keys associated with a single packet, it can't be used on other packets. It's unbreakable by any of today's thinking about encryption.
So, by "multiple keys" do you mean 5, 10, 25? How many keys are you talking about?
We're talking about more keys than there are atoms in the universe. In the scale of things, if you were to take account of all of the atoms in the entire universe, we have many, many more times that many keys. To be exact, our base level of encryption uses 2 to the 4096th power key combinations. That is a number with over 1,000 zeros. The number of elementary particles in the universe amounts to only 10 to the 80th power.
Is your system a symmetric system or an asymmetric system?
It’s actually both. We use symmetric encryption for the data and we use asymmetric encryption to continuously change the key pattern while the data is being transmitted. We only use these as a starting point. Then, we generate literally millions and millions of keys while the data is being transmitted. When the data is received at the other end of the line the keys are generated there, invisibly and synchronously to decrypt the data. The keys are not transmitted in any way. Then, all of those keys are thrown away. They're meaningless once the data has been received and decrypted.
Is there any possibility that the keys shared between the sender and receiver will get out of sync?
That's been a problem with every synchronous encryption system. We've solved that problem multiple ways, two of which I’ll explain. First, we use digital signals which are being sent back and forth between the two ends of the line which keep the synchronization consistent. Second, we use a token that is a reference to resynchronize the two ends of the communication if somehow the systems got out of synchronization. For example, if you and I were using one of our forthcoming secure phones to have a private conversation, one of us could lose the cell signal if we walked or drove into a dead zone. The tokens ensure synchronization regardless of line drops and interference. We've put a lot of effort into keeping the synchronization consistent because you need it to create the keys on the two ends of the system.
Is there any possibility someone other than the sender or receiver could substitute themselves in?
No. Since the keys are continually changing on the two ends, it's not possible for a "man in the middle" to get in the line of the communication channel. A man-in-the-middle won't have the ability to know anything about the communication since it is encrypted with continuously changing keys.
Are you using your own encryption algorithm or industry standards?
AES 256 is the foundation of our software. We can use all different types of encryption standards in our software. We don't have to use AES in our library, though. We can use other types of encryption and can switch the type of encryption used for each packet, which has its own key. We are not bound to any particular encryption methodology.
What are the "security rings" you refer to on your website?
“Security rings” are the mechanism by which organizations can enforce multiple approvals. The approvals can be simultaneous, sequential, geographic, or other pre-defined requirements.
Do I need to replace any of my existing hardware or software in order to use your technology?
It depends on what you have in place. We have many technology solutions applicable to many different hardware and software environments. For example, modern servers can run our containerized products. Legacy equipment solutions can be provided for older systems such as Windows 3 and DOS. Industrial applications and legacy hardware that allow no software changes can take advantage of our BlackICE Ethernet appliance. In addition, licensable code is available for the IoT marketplace manufacturers.
You said modern servers can run containerized products. Why use containers?
Containers provide a standard way to package pieces of software. As an analogy, if you have a shipping container, you put anything in it, but the container itself doesn’t change. Software containers are a standardized environment that holds your software application. We've built IronClad Encryption into the container itself. If your application is running in a secure IronClad Encryption container, its communications are inherently secure. You don’t have to understand anything about security, nor alter your application, to gain the full benefit of an Ironclad container. It just works transparently. So, your application which runs in the container doesn't even know that it's sending and receiving all of its information through the Ironclad encryption to the outside world. In other words, your application programmers don't even have to know that the data is being encrypted and decrypted as it enters and leaves the container.
So, who’s using your technology?
We have technology and distribution partnerships with Charter Trading, Layer 3 Communications, Technologent, and Black Pearl Engineering at the present time. We’re not at liberty to discuss what we’re building or implementing for them. However, it’s fair to say that our products are being implemented in both horizontal and vertical ways, which means as general-purpose solutions that can be used by organizations in any industry and industry-specific solutions that directly address the unique needs of those organizations.
$IRNC
It appears the so called manipulators are accumulating as many shares as possible at the bottom here before the substantial rise. The company has been awefully quiet with all it has going for itself. Insiders have skin in the game owning 60% of the common stock & no preferred shares for special B.S. majority voting rights. The CEO has purchased shares on the open market numerous times at much higher PPS. The company hasn't released an update or news since last November. I believe this quiet period is the result of a Merger/Acquisition deal in the works. We should be getting some news on that or the very least signed contracts & previous patents submitted approved. Cyber defense is huge in this technology day and age & IronClad Encryption has the technological defense products with patents to be the industries new leader in preventing hackers for many small & large companies, banks, government agencies, etc..
AEXG is top bidder again. He is short. It appears note holders are done selling since yesterday. Major move soon. We are at bottom prices. This was over $2 less than a year ago.
$IRNC
52-week high is $2+.
$IRNC
Appears they were finally done today.
$IRNC
Moves on air when no conversions are hitting the market. Low floater & can't wait for some company news.
$IRNC
It appears the CD holders are out of shares. LEVEL II looks clean for a monster run with either Merger, Contracts, or Patents news. Maybe, a combination of all three.
$IRNC
AEXG on the top bid now. He must need shares from NSS all week.
$IRNC
Selling drying up. Just need a spark from the company to light this rocket.
$IRNC
When they recently increased the A/S from 300M to 800M within a month from the last increase I suspected it was for a Merger/Acquisition transaction. Time will tell.
$IRNC
Merger announcement sends this to .10 easily with this float.
$IRNC
I slapped 25K shares at .0145 & then someone wacked the bid right after.
The CEO needs to release a shareholder update or news to stop the bleeding.
$IRNC
Definitely appears to be. The folks who own shares now aren't letting them go. Gonna be a real fun when news is announced. I would love to see an 8K filed with the SEC about a partnership deal with financing secured to begin FDA Phase III trials.
It is going to be a loud boom. News on Patents, Contracts, or Acquisition could drop any day now.
$IRNC
Excellent post!!! Gave you a member mark.
$NSPX
When Insiders buy or sell stock they have to File a Form 4 with the SEC. Look at all the buys the CEO made on the open market at much higher prices.
https://www.otcmarkets.com/filing/conv_pdf?id=12925195&guid=1tWtUHwwSF_5Vth
https://www.otcmarkets.com/filing/conv_pdf?id=12929289&guid=1tWtUHwwSF_5Vth
https://www.otcmarkets.com/filing/conv_pdf?id=12934865&guid=1tWtUHwwSF_5Vth
https://www.otcmarkets.com/filing/conv_pdf?id=12937295&guid=1tWtUHwwSF_5Vth
https://www.otcmarkets.com/filing/conv_pdf?id=12964366&guid=1tWtUHwwSF_5Vth
https://www.otcmarkets.com/filing/conv_pdf?id=12966352&guid=1tWtUHwwSF_5Vth
$IRNC
Insiders haven't sold a single share. If they did, they have to file a Form 4 with the SEC. Have you seen a SEC Form 4 yet? Lolzzzzzzz
You need to learn the difference between the O/S & Float. Float is 30M shares tops.
$IRNC
Yup, just a matter of time. $$$$$
$IRNC
Im on the bid for another 100K. Routing through ETRF. Feed me.
$IRNC
VNDM wasn't diluting. It was ARCA & BMIC. ARCA has returned so some dilution appears to be happening.
$IRNC
Float 30M tops. O/S = 76M & Insiders own 46.5M which is 60% of the O/S.
$IRNC
.03 break coming again shortly.
$IRNC
16k shares isn't a major sell. Lolzzzzz
$IRNC
Yeah, Bux is salty because he sold at the bottom. Lol - He can always get back in but i think he will just watch from the sidelines as the train leaves the station.
$IRNC
News could drop any day now. I wouldn't want to be without shares. These are bottom prices.
$IRNC
We can easily see .06 today if the buying pressure continues.
$IRNC
Better buy back in before liftoff. Lol
$IRNC