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$MGT news, MGT Acquires Anti-Hacking Technology 11 minutes ago - DJNF HARRISON, N.Y., July 15, 2016 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) today announced Sentinel MGT, an intrusion monitoring system, a cybersecurity product designed to protect corporate and enterprise intranets from sophisticated hacking threats. MGT also announced plans for a consumer product based on the technology, due to be released in November. The underlying technology was purchased from Cyberdonix, Inc. for 150,000 restricted shares of MGT stock.
In an article published yesterday, Inc. Magazine correctly outlined the five most important classes of cybersecurity technologies needed to address the latest threats facing organizations and consumers. These are protecting the rapidly expanding Internet of Things (IOT), protecting the cloud, moving to a proactive defense, protecting individual privacy and securing mobile computing platforms.
Sentinel MGT joins the other technologies acquired by MGT -- D-Vasive, Demonsaw and E-Tagged -- to make MGT the only company developing targeted solutions for all of these threats to both the consumer and enterprise markets. These technologies, taken together, comprise the world's first comprehensive Anti-Hacking system.
Sentinel MGT features a new approach towards monitoring network traffic that outpaces every other approach in the industry. The system, composed of a passive hardware device connected to an enterprise Ethernet, monitors network traffic for suspicious activity using sophisticated algorithms, providing an early warning system that alerts the owner before irreparable damage can be done. The device requires no setup or user configuration. The user merely plugs it into an intranet and it communicates anomalous packets to an MGT server, where they are analyzed and appropriate alerts are instantaneously transmitted to the enterprise IT department.
Sentinel MGT mitigates risk by greatly reducing the time a hacker has to operate inside protected networks, planting malware and stealing data. It also allows for an investigation to begin while the attack is in progress, rather than after the perpetrator has left the system. This Anti-Hacking system allows organizations, for the first time, to take a proactive rather than a reactive approach to cybersecurity.
John McAfee, proposed Executive Chairman and Chief Executive Officer of MGT, stated, "Sentinel is the world's first product designed by white hat hackers to address the growing threat of corporate and governmental hacking of enterprise intranets. The product is being readied for sale in the U.S. market, and we will have a Chinese version ready for sale when I deliver my keynote address to the Chinese National Security Conference in Beijing on August 15th."
Mr. McAfee concluded, "Unlike anti-virus products, which focus on the actual malware tools used by hackers, our Anti-Hacking model focuses on the means that hackers use to gain entrance to their targets. This helps prevent malware from being planted in the first place. This tilts the playing field in the favor of the enterprise."
About MGT Capital Investments, Inc.
MGT Capital Investments, Inc. (NYSE MKT: MGT) is in the process of acquiring a diverse portfolio of cyber security technologies. With cyber security industry pioneer, John McAfee, at its helm, MGT Capital is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, including tablets and smart phones. The Company is currently in the process of acquiring D-Vasive, a provider of leading edge anti-spy software, and Demonsaw, a provider of a secure and anonymous file sharing software platform.
MGT Capital intends to change its corporate name to "John McAfee Global Technologies, Inc." upon closing of the D-Vasive transaction.
This press release contains forward--looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward--looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward--looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward--looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward--looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.
MGT Capital Investments Inc will soon become John McAfee Global Technologies, Inc. Whether you like him or not, he has put his reputation and name on the line here. It’s all up to him to make the new company a success. In looking at the market, we think there’s more money to be made playing MGT from the long side than there is on the short side. We could easily see a short squeeze pop shares of MGT to $10 or more. From there, we would take money off the table and consider going short. We think shorting MGT at current levels is a fool’s errand. We will be updating Street Register as soon as we know more.
Several biased investor websites and postings have attempted create the appearance that these proposed issuances were somehow never disclosed, resulting in potential confusion; this is simply not true. The negative economic impact of dilution comes from issuing shares for no or little value. However, the issuance of shares can increase the per share value of all shares if done wisely. MGT is issuing its shares for the two identified businesses, plus to incentivize the focused energy of a technology pioneer, John McAfee. In May, the board of directors of MGT determined that issuing 43.8 million shares (on an existing base of about 26 million) was a fair price for these transactions and, based on investor response, the stock market appeared to enthusiastically agree. Real world outcomes have confirmed this shared belief.
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