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Literally wrote the book on cybersecurity.
So, you say the Board opted to take their pay in company stock. Very interesting.
I wonder why? ??
We understand your skepticism, having been burned countless times before by charlatans. But I disagree re current assessment …
Why bullish? For starters, Cipherloc and SideChannel share a common vision - to support start ups and small businesses - and have the software, experience and personnel to execute. The combined companies are staring directly at a *huge* TAM with a vision to rapidly expand (SC is hiring). The real CiSO’s software platform has massive potential - high utility + efficient w/ a clear interface. And the C-Suite have large equity positions which bodes well for for the future. They do well, we do well. Watch the revenues. Again imho. Do your own DD.
Truth is, the SideChannel merger / buyout is the best thing that has ever happened to Cipherloc shareholders. Think about it. And it’s not even close.
Now there’s stability at the top, real revenues (SChannel generated nearly $3M for FY 2021) and a massive addressable market. I’m thrilled Brian has taken some time to chime in here, but I also get that he’s a busy guy, focused on growing a business. Let’s here what he has to say.
To that end, I have a couple of questions for Brian. First, where do you see Cipherloc / SideChannel in 5 years? Thinking about your competition, who do you perceive as your current competitors in the space? While I don’t know all the particulars / their level of support / number of customers / number of CiSO’s, would Cerberus (ticker CiSO) be among them? Last one, Brian: tell us a little bit about Cipherloc’s Enclave . . . What makes the platform—as Clok Chairman Tom Wilkinson has described it—game-changing?
Thanks in advance!
Uplisting? Perhaps I missed the mention in company filings. Or is the possibility of uplisting conjecture on your part?
Wilkinson, Ambrose, Chasteen, Sammy Davis, Dean Martin … how about some open market purchases? Your loyal shareholders were buying much, much higher?
Then again, I do like that the Board opted for company stock in lieu of cash ….
It’s a penny stock shell company. The SideChannel CEO Brian Hsugli is the new leader. My avg is .15 per share. I expect a ten-bagger. 30 vCISOS + secular trend + massive TAM. But do your own due diligence and good luck.
Name change to SideChannel seems likely. Ultimately this becomes a founder’s company —Brian Haugli (SideChannel founder), Chasteen and Nick Hnatiw. As an investor I seek founder-led companies, particularly relatively young leaders with ample experience. These guys are smart and they have large stock positions in the company. I like my chances.
Help us out, is DeGarza still CEO?
Different management. Different story.
SideChannel revs: 2020 $1M; 2021 $2.1M
20 Vetted CISOs
Take a look at Cerberus (ticker ciso) for a decent comp
The 59,000,000 shares that SideChannel receives for the deal are locked up for 24 months.
Biden to private industry: “harden cyber defense immediately”
Secular trend with massive market. Clok (software) + SideChannel (support + saas) is promising. SideChannel founder sees the big picture. Do your dd.
Company presentation tomorrow 5pm.
Slide presentation available on cipherloc site
I stand corrected. Indeed it’s a trademark. Tbh that’s a better sign in fact. Things are coming along. Thanks again Barber for the heads up.
Patent news released today. It won’t be approved overnight of course, but this is a positive development for company.
CIPHERLOC ENCLAVE
Cipherloc Corporation
USPTO Trademarks › Cipherloc Corporation › Cipherloc Enclave Application #97283222
CIPHERLOC ENCLAVE™ trademark registration is intended to cover the categories of downloadable computer software for encryption and decryption; Downloadable mobile application software for encrypting and decrypting communications and data.
Serial Number 97283222
Mark Literal Elements CIPHERLOC ENCLAVE
Mark Drawing Type 4 - STANDARD CHARACTER MARK
Mark Type TRADEMARK. SERVICE MARK
Register PRINCIPAL
Current Location NEW APPLICATION PROCESSING 2022-03-02
Basis 1(b)
Class Status ACTIVE
Good points by both of you. Years and years of abuse by the previous board. At the same time, the new team has, collectively, an impressive pedigree. Add in the advisory board (why create this board w/o a viable product(s) / road to revenue?), the offering at .18 cents and a broader resurgence in cyber stocks (coincidently I’m listening to cnbc’s Tyler Mathisen describe cyber as the #1 threat to US corps). I’m averaged at ~ .15 cents. I see this as a 2-10x opportunity in the months ahead.
Questions for the board. Anyone know if the shareholders from the most recent offering ($10M back in the spring) have received their stock yet? Also, have any of you had the chance to speak with management in recent weeks? If so what was the takeaway? What are likely the next steps? Good luck to all.
Believe me, Jenkins, the guy in charge of development, was paid.
Mullan's salary was deferred for a period of time, yes. Then he returned to being paid once the $20M financing was secured.
Management was dreadful - not at taking a fat paycheck (they were good at that) ... dreadful at promoting the company. One guy was never in the office - in fact, he wasn't even in the state! Another was juggling three separate roles, two of which had nothing to do with RCPI. They know what they did.
There was an opportunity for Jenkins to say something such as, "We currently have a drug undergoing clinical trials in Europe. We hope to have preliminary results in the near future."
On the other hand, I certainly understand Ted's reluctance to share anything with this reporter, primarily due to the current situation regarding Chapman. His "suspension" from the board is an ongoing matter.