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Not only would I not sell, I have been an active buyer.
22over....I totally agree. On the same note, I just can't comprehend why anyone would sell at this point.
Read the filings!!!!
Maybe get educated. Trump has a 6 month hold on ALL of his shares.
As always Brian, we appreciate your transparency on this board.
https://www.cnn.com/2024/03/19/politics/cyberattacks-water-systems-us/index.html?soc_src=aolapp
Brian, are we bidding on these government contracts??
Nice to know our CEO is buying stock. But holy ship he owns a ton of stock.
I just bought 100000 shares last week.
Im a believer.
#SideChannel
I bought a huge load at the bottom. Contrary to some advice that was given. I'm happy as hell and here for the long haul. With these purchases, I am finally averaged at a very nice number.
I have a feeling several others have followed me.
#mdlgwasacon
#brianismyhero
#legit
So, I spent 17 hours in the car yesterday traveling home from Florida. I listened to XM Radio all the way. I listened to commercials the whole way. Some were repetitive, but they definitely made me think. Should SideChannel explore the idea of advertising like this? Would it be an easy way to expand, or would it be too much trouble? I was just wondering.
And then just like that....
No volume 3 days in a row. Sad
Strong Statement
SideChannel Announces New Board of Directors Appointments and Re-Election of Chairwoman
Worcester, MA – February 21, 2024 – SideChannel, Inc. (OTCQB:SDCH) (“SideChannel” or the “Company”), a leading provider of cybersecurity services and technology to emerging and middle market companies, is delighted to announce the appointment of two esteemed professionals, General (Retired) Robert Brown, and Mr. James Hansen, to its Board of Directors. The Company also announces the addition of Mr. Nick Hnatiw, the company’s Chief Technology Officer, to the Board, and the re-election of Deborah MacConnel as Chairwoman of the Board. These strategic appointments and re-election underscore SideChannel’s dedication to leadership excellence and innovation in addressing cybersecurity challenges.
General (Retired) Robert Brown brings a wealth of leadership and national security experience to the board. His distinguished military career, culminating as a four-star general and his final command of the United States Army Pacific, highlights his exemplary commitment to service and strategic acumen. General Brown’s involvement with the Association of the United States Army (AUSA) as Chief Executive Officer and his recent appointment as the Chairman of the Armed Services YMCA (ASYMCA) Board further highlight his dedication to supporting military communities and enhancing national security.
Mr. James Hansen joins the board with an impressive background in the cybersecurity sector. His recent role as CEO of a leading cybersecurity software company, coupled with his tenure as President and COO at Swimlane and COFENSE, underscores his deep understanding of the cybersecurity challenges facing organizations today. Mr. Hansen’s experience as a co-founder and COO of Mandiant (now part of Google “GOOG”) demonstrates his expertise in managing high-stakes cyber incidents and his commitment to advancing cybersecurity resilience.
Mr. Nick Hnatiw, who has served as SideChannel’s Chief Technology Officer since November 2020, joins the Board with over 15 years of experience in creating cutting-edge software technologies. His leadership in developing security solutions and his prior roles supporting U.S. Cyber Command and Intelligence Agencies solidify his expertise in cybersecurity and technology innovation.
Deborah MacConnel has been re-elected as Chairwoman of the Board, continuing her leadership role in steering the strategic direction of SideChannel. Her re-election reflects the board’s confidence in her leadership and her significant contributions to the company’s success.
Brian Haugli, CEO of SideChannel, shared his enthusiasm about these developments: “The addition of General Brown, Mr. Hansen, and Mr. Hnatiw to our Board, alongside the re-election of Deborah MacConnel as Chairwoman, marks a significant milestone for SideChannel. General Brown’s strategic insights, Mr. Hansen’s cybersecurity acumen, and Mr. Hnatiw’s technological expertise, under the continued guidance of Chairwoman MacConnel, will be invaluable as we navigate the evolving cybersecurity landscape. We are poised for unprecedented growth and innovation, driven by our strengthened leadership team.”
The appointments and re-election are effective immediately, with the new board members actively contributing to SideChannel’s mission of providing advanced cybersecurity solutions to protect against emerging threats.
For more information about SideChannel and its solutions, please visit https://sidechannel.com.
A seriously heavy duty Board of Directors.
Nice job Brian
Form 8-K - Current report
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 15, 2024
SideChannel, Inc.
(Exact name of registrant as specified in its charter)
Delaware 000-28745 86-0837077
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
146 Main Street, Suite 405, Worcester, MA 01608
(Address of principal executive offices) (Zip Code)
(508) 925-0114
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
? Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.001 per share SDCH OTC Markets Group (OTCQB)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 5.07. Submission of Matters to a Vote of Security Holders.
On February 15, 2024, SideChannel, Inc. (the “Company”) held its 2024 virtual annual meeting of stockholders (the “Annual Meeting”) to vote on the following matters:
1.
To elect to one-year terms as Directors of the Company the nominees listed in the Company’s Proxy Statement dated January 5, 2024.
2.
To ratify the Audit Committee’s selection of RBSM, LLP as the Independent Registered Accounting Firm of the Company for the year ended September 30, 2024.
3.
To approve a nonbinding advisory vote on the frequency of future nonbinding advisory votes on the Company’s executive compensation program.
At the Annual Meeting, there were present in person or by proxy 172,901,179 shares of the Company’s common stock, representing more than 80.75% of the total outstanding eligible votes. The final voting results for each proposal are as follows:
1. Election of Directors:
Each of the following seven nominees was elected to the Company’s Board of Directors, in accordance with the voting results listed below, to serve for a term of one year, until the next annual meeting of stockholders and until their successors have been duly elected and have qualified.
Nominee For Against Abstain
Broker
Non-Votes
Robert Brown 127,848,287 0 3,138,401 41,914,491
James Hansen 127,800,318 0 3,186,370 41,914,491
Brian Haugli 128,033,041 0 2,953,647 41,914,491
Nick Hnatiw 127,850,266 0 3,136,422 41,914,491
Deborah MacConnel 128,629,884 0 2,356,804 41,914,491
Kevin Powers 128,744,584 0 2,242,104 41,914,491
Hugh Regan, Jr. 128,794,584 0 2,192,104 41,914,491
On the basis of this vote, each of the seven nominees was elected to a one-year term as a Director of the Company.
2. Ratification of the Company’s Independent Auditors:
Stockholders ratified the appointment of RBSM, LLP as the independent auditors of the Company for the fiscal year ending September 30, 2024, in accordance with the voting results listed below.
For Against Abstain Broker Non-Votes
169,430,438 1,490,211 1,980,530 41,914,491
169,430,438 of the shares voting at this meeting in person or by proxy voted in favor. On the basis of this vote, the Audit Committee’s selection of RBSM, LLP as the Independent Registered Public Accounting Firm of the Company for the year ending September 30, 2024, was ratified.
3. To approve a nonbinding advisory vote on the frequency of future nonbinding advisory votes on the Company’s executive compensation program:
For Against Abstain Broker Non-Votes
126,721,199 3,084,129 1,181,360 41,914,491
126,721,199 of the shares voting at this meeting in person or by proxy voted in favor. On the basis of this vote, the nonbinding advisory vote to approve a nonbinding advisory vote on the Company’s executive compensation program received a plurality of the votes and was approved.
Item 9.01 Financial Statements and Exhibits
(a) Exhibits.
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SideChannel, Inc.
Date: February 20, 2024 By: /s/ Brian Haugli
Name: Brian Haugli
Title: Chief Executive Officer
Cover
Feb. 15, 2024
Cover [Abstract]
Document Type 8-K
Amendment Flag false
Document Period End Date Feb. 15, 2024
Entity File Number 000-28745
Entity Registrant Name SideChannel, Inc.
Entity Central Index Key 0001022505
Entity Tax Identification Number 86-0837077
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 146 Main Street
Entity Address, Address Line Two Suite 405
Entity Address, City or Town Worcester
Entity Address, State or Province MA
Entity Address, Postal Zip Code 01608
City Area Code (508)
Local Phone Number 925-0114
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol SDCH
Entity Emerging Growth Company false
I tried chiming in for question but was not recognized. Wanted to know how many companies we have under contract and how many more you expect to sign in the near future. Also, are you looking for larger companies that would bring in larger contracts/revenue?
First Quarter FY 2024 Highlights
? Revenue of $1.7 million; grew 12.3% versus the first quarter of FY 2023 and 4.6% sequentially.
? Gross margin of 48.7% versus 56.0% in the first quarter of FY 2023 and 51.6% for the fourth quarter of FY 2023.
? Operating expenses decreased $368,000 or 25.0% compared to the first quarter of FY 2023 and $68,000 or 5.8% sequentially.
? Net loss of $246,000 or $0.00 per share.
? Trailing twelve-month revenue reached $6.8 million as of December 31, 2023.
? Revenue retention was 72.7% for the trailing twelve months ended December 31, 2023.
? Cash was $819,000 as of December 31, 2023; cash used in operations during the quarter of $184,000.
SideChannel Reports Continued Quarterly Revenue Growth
Press Release | 02/07/2024
Financial results conference call on Wednesday, February 7 @ 4:30 P.M. EST
WORCESTER, MA / ACCESSWIRE / February 7, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("SideChannel"), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced its financial results for the three months ended December 31, 2023.
First Quarter FY 2024 Highlights
Revenue of $1.7 million; grew 12.3% versus the first quarter of FY 2023 and 4.6% sequentially.
Gross margin of 48.7% versus 56.0% in the first quarter of FY 2023 and 51.6% for the fourth quarter of FY 2023.
Operating expenses decreased $368,000 or 25.0% compared to the first quarter of FY 2023 and $68,000 or 5.8% sequentially.
Net loss of $246,000 or $0.00 per share.
Trailing twelve-month revenue reached $6.8 million as of December 31, 2023.
Revenue retention was 72.7% for the trailing twelve months ended December 31, 2023.
Cash was $819,000 as of December 31, 2023; cash used in operations during the quarter of $184,000.
Management Comments
Commenting on the fiscal first quarter ended December 31, 2023, Brian Haugli, President and Chief Executive Officer of SideChannel said, "In May 2023, we announced that our primary focus was to pursue positive cash flow from operations, and I am pleased to see our continued progress toward that goal. If the current trends continue, we expect to achieve this objective during this fiscal year. When we transition from burning cash to generating cash on a quarterly basis, I anticipate that we will renew our investments in marketing and selling activities."
"We still consider Enclave to be in a beta phase with managed, incremental adoption by select customers. Our beta program is providing valuable feedback and insight that we intend to use in our go-to-market strategy for Enclave, which combines critical risk management tools supported by a simple, efficient management console." said Haugli.
SideChannel will host a conference call on February 7 at 4:30 P.M. Eastern Time to discuss its first quarter results and provide an update on the Company's initiatives.
FIRST QUARTER CALL INFORMATION
Date: Wednesday, February 7, 2024 at 4:30 P.M. Eastern Standard Time.
Dial In: Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 235453
A webcast of the call will also be available: https://www.webcaster4.com/Webcast/Page/2071/49677
Participants may register in advance for the call using the webcast link.
The conference call will include management remarks and a live question and answer session. The conference call host will provide participants with instructions for joining the queue to asks questions at the conclusion of management remarks. Questions may also be submitted prior to the meeting using ir@sidechannel.com.
First Quarter 2024 Review
The first quarter Form 10-Q is accessible in its entirety at https://investors.sidechannel.com/sec-filings.
In thousands, except shares and per share data
Three Months Ended
Change
Change
12/31/2023
12/31/2022
$
%
9/30/2023
$
%
Revenue
$1,736
$1,546
$190
12.3%
$1,659
$77
4.6%
Gross profit
845
865
(20)
-2.3%
856
(11)
-1.3%
Gross margin
48.7%
56.0%
51.6%
Operating expenses
1,104
1,472
(368)
-25.0%
1,172
(68)
-5.8%
Impairment Charges
-
-
-
4,940
(4,940)
-100%
Operating loss (259)
(607)
348
(5,256)
4,997
Net loss (246)
(602)
356
(4,870)
4,624
Net loss per common share
$(0.00)
$(0.00)
$(0.00)
$(0.02)
$0.02
Weighted average common shares outstanding - basic and diluted
214,578,923
148,733,860
213,574,059
As of
December 31, 2023 As of
September 30, 2023
Cash
$819 $1,053
Current Assets 2,145
2,448
Current Liabilities 760 954
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of SideChannel's future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes", "hopes", "expects", "intends", "plans", "anticipates", "potential", "could", "should" or "may", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
SOURCE: SideChannel
SideChannel Announces Key Promotions to Fuel Growth and Success
Tuesday, 30 January 2024 08:30
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SideChannel
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Topic:
Company Update
WORCESTER, MA / ACCESSWIRE / January 30, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("SideChannel"), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced the promotion of three of its outstanding team members, further strengthening its leadership team in a strategic move to bolster the company's growth and success.
Dele Owoye has been promoted to Director of Engineering. In his new role, Dele will oversee the engineering team, driving innovation and excellence in developing robust cybersecurity solutions. Dele has been instrumental in numerous projects at SideChannel and is known for his exceptional technical expertise and leadership skills.
Matt Klein and Eric Gauthier have both been promoted to Vice President of Client Delivery. Matt and Eric will be responsible for ensuring the seamless delivery of services to SideChannel's clients, maintaining the high standards of customer satisfaction that the company is known for. Their extensive experience and deep understanding of client needs make them the perfect fit for these critical roles.
Brian Haugli, CEO of SideChannel, expressed his enthusiasm for these promotions, stating, "The growth and success of SideChannel are driven by the talent and dedication of our team. Dele, Matt, and Eric have demonstrated exceptional skill and commitment in their respective fields. Their promotions are not only a testament to their individual achievements but also pivotal to our strategic direction. I am confident that in their new roles, they will play a crucial role in driving SideChannel's growth and in helping us achieve new heights of success."
These promotions come at a time when SideChannel is expanding its reach and influence in the cybersecurity domain, emphasizing the company's commitment to leadership excellence and client satisfaction.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of SideChannel's future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes", "hopes", "expects", "intends", "plans", "anticipates", "potential", "could", "should" or "may", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
SOURCE: SideChannel
"I am confident that in their new roles, they will play a crucial role in driving SideChannel’s growth and in helping us achieve new heights of success.”
Form 8-K - Current report
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 30, 2024
?
SideChannel, Inc.
(Exact name of registrant as specified in its charter)
Delaware 000-28745 86-0837077(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)
146 Main Street, Suite 405, Worcester, MA 01608
(Address of principal executive offices) (Zip Code)
(508) 925-0114
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
?Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ?Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ?Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ?Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registeredCommon Stock, par value $0.001 per share SDCH OTC Markets Group (OTCQB)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 7.01. Regulation FD Disclosure.
On January 30, 2024, SideChannel, Inc. (the “Company”) issued a press release announcing the promotion of three employees to security service delivery leadership positions.
The information included in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Financial Statements and Exhibits
(a) Exhibits.
Exhibit No. Description99.1 Press Release issued by the registrant on January 30, 2024.104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SideChannel, Inc. Date: January 30, 2024By:/s/ Brian Haugli Name:Brian Haugli Title:Chief Executive Officer
Exhibit 99.1
FOR IMMEDIATE RELEASE
SideChannel Announces Key Promotions to Fuel Growth and Success
WORCESTER, MA / ACCESSWIRE / January 30, 2024 / SideChannel, Inc. (OTCQB:SDCH) (“SideChannel”), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced the promotion of three of its outstanding team members, further strengthening its leadership team in a strategic move to bolster the company’s growth and success.
Dele Owoye has been promoted to Director of Engineering. In his new role, Dele will oversee the engineering team, driving innovation and excellence in developing robust cybersecurity solutions. Dele has been instrumental in numerous projects at SideChannel and is known for his exceptional technical expertise and leadership skills.
Matt Klein and Eric Gauthier have both been promoted to Vice President of Client Delivery. Matt and Eric will be responsible for ensuring the seamless delivery of services to SideChannel’s clients, maintaining the high standards of customer satisfaction that the company is known for. Their extensive experience and deep understanding of client needs make them the perfect fit for these critical roles.
Brian Haugli, CEO of SideChannel, expressed his enthusiasm for these promotions, stating, “The growth and success of SideChannel are driven by the talent and dedication of our team. Dele, Matt, and Eric have demonstrated exceptional skill and commitment in their respective fields. Their promotions are not only a testament to their individual achievements but also pivotal to our strategic direction. I am confident that in their new roles, they will play a crucial role in driving SideChannel’s growth and in helping us achieve new heights of success.”
These promotions come at a time when SideChannel is expanding its reach and influence in the cybersecurity domain, emphasizing the company’s commitment to leadership excellence and client satisfaction.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of SideChannel’s future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes”, “hopes”, “expects”, “intends”, “plans”, “anticipates”, “potential”, “could”, “should” or “may”, and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
Cover
Jan. 30, 2024
Cover [Abstract] Document Type8-KAmendment FlagfalseDocument Period End DateJan. 30, 2024Entity File Number000-28745Entity Registrant NameSideChannel, Inc.Entity Central Index Key0001022505Entity Tax Identification Number86-0837077Entity Incorporation, State or Country CodeDEEntity Address, Address Line One146 Main StreetEntity Address, Address Line TwoSuite 405Entity Address, City or TownWorcesterEntity Address, State or ProvinceMAEntity Address, Postal Zip Code01608City Area Code(508)Local Phone Number925-0114Written CommunicationsfalseSoliciting MaterialfalsePre-commencement Tender OfferfalsePre-commencement Issuer Tender OfferfalseTitle of 12(b) SecurityCommon Stock, par value $0.001 per shareTrading SymbolSDCHEntity Emerging Growth Companyfalse
The past is the past. There is no sense living in the past. My mistakes are my mistakes. I'm living with those mistakes. I don't care who was right or who was wrong. I really still don't care who is right or wrong today. For me, I'm happy to have the amount of shares that I have and where I have successfully averaged myself to. I am also happy that we are a TOTALLY DIFFERENT COMPANY than before and that my shares of nsct/clok did not end up going defunct. But, the past is the past. I'm here still for the future.
Brian......AWESOME POST.
Brian, As always, we appreciate your candor and honesty here on this public forum.
It has to be difficult to read some of the posts here while knowing the truth and also knowing the future plans for the company. Obviously, not being able to share those plans beforehand has to be a little bit of a bummer.
But we ALL appreciate you stopping by to say hi and set the record straight.
Profits....BLACKLISTED OR JUST NOT COVERING?
Lots of firms don't trade otc stocks.
Let's back up our statements with facts and numbers. Since you called and asked them yourself, it appears that you have their contact info....please do share.
She definitely suggested that sdch will uplist this year. Interesting.
For me, and this is just my opinion, there isn’t a 4 Star General anywhere in the United States that would agree to be on the board of a OTC company that was not 100% LEGIT.
#nowthatstheendofthisstory
Below is a text that I received from an old employee under the mdlg regime. I received it out of the blue back in mid December when I was buying up .02 shares that were being dumped at the end of the year I Iaughed it off at the time. But it seems his sentiment is shared with others. Interesting.
This is a copy and paste of the text....
.02 cents from zero!
Who ya gonna blame
now? Revenues for
SDCH doesn't mean
s**t as cash dwindles
and bankruptcy
looms large in 2024.
Investors down 89%
from last pipe and all
other investors are
down 98%. Averaging
down on a losing
company and stock is
what 'dumb' investors
do before they lose it
all.
I don't see a RS anytime soon. Shareprice needs to get to .25 - .50 before considering, imo. We need stability first. Obviously sales are stable but our share price is not.
But....I do understand the need to get to a higher more visible trading exchange.
Form 8-K - Current report
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 9, 2024
?
SideChannel, Inc.
(Exact name of registrant as specified in its charter)
Delaware 000-28745 86-0837077(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)
146 Main Street, Suite 405, Worcester, MA 01608
(Address of principal executive offices) (Zip Code)
(508) 925-0114
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
?Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ?Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ?Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ?Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registeredCommon Stock, par value $0.001 per share SDCH OTC Markets Group (OTCQB)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 7.01. Regulation FD Disclosure.
On January 9, 2024, SideChannel, Inc. (the “Company”) issued a press release announcing the results of a product and industry research analysis, published October 10, 2023, performed by Trickle Research.
The information included in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Financial Statements and Exhibits
(a) Exhibits.
Exhibit No. Description99.1 Press Release issued by the registrant on January 9, 2024.104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SideChannel, Inc. Date: January 9, 2024By:/s/ Brian Haugli Name:Brian Haugli Title:Chief Executive Officer
Exhibit 99.1
New Analyst Coverage Initiated on SideChannel
Cybersecurity Innovator SideChannel Gains Wall Street Attention
WORCESTER, MA / ACCESSWIRE / January 9, 2024 / SideChannel, Inc. (OTCQB:SDCH) (“SideChannel”), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced that Trickle Research has initiated research coverage of SideChannel with a 12-24 month price target of $0.18.
According to Trickle Research, “SideChannel is addressing the underserved mid-market segment of the cybersecurity industry, which we believe represents an opportunity for outsized growth. SideChannel’s unique ‘easy button’ approach to cybersecurity could gain significant traction among mid-market companies that often lack resources and expertise to combat today’s sophisticated cyber threats.”
SideChannel’s mission is to make enterprise-class cybersecurity accessible for mid-market and emerging companies. SideChannel offers a range of managed security services, security operations center solutions, and easy-to-deploy security technologies, such as Enclave, that provide customers with a simplified approach to cybersecurity.
Brian Haugli, CEO, said, “We are thrilled to gain the attention and support of Trickle Research. Their analysis validates our view that mid-market companies are underserved, and SideChannel is well positioned to capture this opportunity with our innovative, easy-to-use cybersecurity solutions and highly attentive customer service model.
According to Trickle Research, the global cybersecurity market is between $150 billion and $200 billion, with the fastest growth coming from managed security services and security operations centers. “SideChannel is targeting a niche within cybersecurity that should afford an opportunity for above average growth over the coming years. With a subscription-based business model and a focus on high-touch customer service, SideChannel also exhibits a highly scalable platform with a visible path to profitability, in our view,” the report said.
The full report published by Trickle Research can be accessed by clicking here.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes.
SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of SideChannel’s future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes”, “hopes”, “expects”, “intends”, “plans”, “anticipates”, “potential”, “could”, “should” or “may”, and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
Cover
Jan. 09, 2024
Cover [Abstract] Document Type8-KAmendment FlagfalseDocument Period End DateJan. 09, 2024Entity File Number000-28745Entity Registrant NameSideChannel, Inc.Entity Central Index Key0001022505Entity Tax Identification Number86-0837077Entity Incorporation, State or Country CodeDEEntity Address, Address Line One146 Main StreetEntity Address, Address Line TwoSuite 405Entity Address, City or TownWorcesterEntity Address, State or ProvinceMAEntity Address, Postal Zip Code01608City Area Code(508)Local Phone Number925-0114Written CommunicationsfalseSoliciting MaterialfalsePre-commencement Tender OfferfalsePre-commencement Issuer Tender OfferfalseTitle of 12(b) SecurityCommon Stock, par value $0.001 per shareTrading SymbolSDCHEntity Emerging Growth Companyfalse
January 9, 2024 7:00 AM
New Analyst Coverage Initiated on SideChannel
Cybersecurity Innovator SideChannel Gains Wall Street Attention
WORCESTER, MA / ACCESSWIRE / January 9, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("SideChannel"), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced that Trickle Research has initiated research coverage of SideChannel with a 12-24 month price target of $0.18.
According to Trickle Research, "SideChannel is addressing the underserved mid-market segment of the cybersecurity industry, which we believe represents an opportunity for outsized growth. SideChannel's unique 'easy button' approach to cybersecurity could gain significant traction among mid-market companies that often lack resources and expertise to combat today's sophisticated cyber threats."
SideChannel's mission is to make enterprise-class cybersecurity accessible for mid-market and emerging companies. SideChannel offers a range of managed security services, security operations center solutions, and easy-to-deploy security technologies, such as Enclave, that provide customers with a simplified approach to cybersecurity.
Brian Haugli, CEO, said, "We are thrilled to gain the attention and support of Trickle Research. Their analysis validates our view that mid-market companies are underserved, and SideChannel is well positioned to capture this opportunity with our innovative, easy-to-use cybersecurity solutions and highly attentive customer service model."
According to Trickle Research, the global cybersecurity market is between $150 billion and $200 billion, with the fastest growth coming from managed security services and security operations centers. "SideChannel is targeting a niche within cybersecurity that should afford an opportunity for above average growth over the coming years. With a subscription-based business model and a focus on high-touch customer service, SideChannel also exhibits a highly scalable platform with a visible path to profitability, in our view," the report said.
The full report published by Trickle Research can be accessed by clicking here.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the Company delivers comprehensive cybersecurity plans through a series of actions branded, SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave; a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of SideChannel's future expectations, plans and prospects, subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes", "hopes", "expects", "intends", "plans", "anticipates", "potential", "could", "should" or "may", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act and otherwise. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SDCH's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Forms 10-K, 10-Q and 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
SOURCE: SideChannel
View the original press release on accesswire.com