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Revenue Recognition
Software license revenue is generally recognized when a signed contract or other persuasive evidence of an arrangement exists, the software has been electronically delivered, the license fee is fixed or is measured on a paid user basis; and collection of the resulting receivable is probable. When contracts contain multiple elements wherein Vendor-Specific Objective Evidence (“VSOE”) exists for all undelivered elements, we account for the delivered elements in accordance with the “Residual Method.” VSOE of fair value for maintenance and support is established by a stated renewal rate, if substantive, included in the license arrangement or rates charged in stand-alone sales of maintenance and support. Revenue from subscription license agreements, which include software, rights to unspecified future products and maintenance, is recognized ratably over the term of the subscription period. When the fair value of VSOE of post contract customer support cannot be determined, the revenue is recognized ratably over the contract period. In June 2014, the Company entered into an agreement to provide software and support to a third party for which no VSOE for any elements is known. Delivery of the use of the license was not achieved until December 2015; the only remaining undelivered element was post contract support services, and accordingly, the revenues will be recognized on a pro rata basis prospectively over the remaining 30 months of the related contracts.
All companies raise money by selling shares.
FALSE, Cipherloc in all of their filings has stated that it was delivered twice, just do your DD.
The company is not deluting it's shareholder base by bring in large investor money. Again per the filings.
The software was delivered to Gawk per the filings, It was Gawk whom had the problem with closing down their original platform, again per the filings.
Watch this company and it's filings and PR, its not moving the stock needle in a positive direction.
Really you think this guy is real, thats funny.
He is a noted expert on encryption.
Ridiculous
People buy and sell due to their own situations.
LMAO at this post.
What difference does it make if he is a keynote or a distinguished speaker, he is speaking for the second year in a row.
Just your opinion.
Where and When?
What is misleading? Nothing, very well organized sales site with new whitepaper and the business case laid out.
Pump 101: attempts to boost the price of a stock through recommendations based on misleading or greatly exaggerated statements.
Would being overly excited about a website launch PR and guessing a company value in the "billions" qualify?!?!
Pump 101, where are the market promoters? This is progress!
Really, this is fantastic news.
Agreed
You are correct, the next 10Q file date is August 15, 2016.
It's not per the dissimal of the lawsuit.
Why, if it's not a material event?
certification of material events - US Department of the Treasury
https://www.treasury.gov/.../Certification%2...
United States Department of the Treasury
A “Material Event” is an occurrence that affects an organization's strategic direction, mission, or business operation and, thereby, its status as a certified Community Development Entity (CDE) and/or Community Development Financial Institution (CDFI), and/or its compliance with the terms and conditions of its.
CipherLoc Announces New Vice President of Sales and Marketing
AUSTIN, TX / ACCESSWIRE / May 3, 2016 / CipherLoc Corporation (OTCQB: CLOK), a leading supplier of high-value security solutions based on its patented polymorphic encryption technology, is pleased to announce that Mike Salas has been appointed Vice President of Sales and Marketing, reporting to Michael DeLaGarza, Chief Executive Officer. He will be responsible for CipherLoc's sales team leadership, helping to establish the company's strategic direction, and driving revenue.
Mr. Salas is a highly-accomplished executive with 25 years of experience establishing and executing sophisticated marketing and sales strategies for leading companies in the technology space. Previously, he was founder and CEO of Layer N Networks which was a hardware-based security systems company that was acquired in 2006 by nCipher (now part of Thales e-Security), Vice President and General Manager at "Internet of Things" pioneer Silicon Labs (NASDAQ: SLAB), and most recently Vice President of Marketing and Strategy at low-power hardware specialist Ambiq Micro. Mr. Salas was awarded a BS in Electrical Engineering from the University of Texas at Austin in 1991. With extensive experience in the security, networking, and hardware spaces, Mr. Salas brings a unique combination of skills to the CipherLoc team
Thanks, the truth has come out.
The lawsuit was dismissed per the Federal Court, no merit.
Dismissed
https://ecf.mssd.uscourts.gov/doc1/10514837537
UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF MISSISSIPPI
NORTHERN DIVISION
CLOUD MEDICAL DOCTOR
SOFTWARE CORPORATION PLAINTIFF
VS. CIVIL ACTION NO.: 3:13-cv-783-WHB-RHW
KROOSS MEDICAL MANAGEMENT
SYSTEMS, LLC, ET AL. DEFENDANTS
AGREED FINAL JUDGMENT OF DISMISSAL WITH PREJUDICE
Before this Court is the ore tenus motion of the parties to dismiss the above-styled
lawsuit with prejudice. The Court, finding the parties in agreement, finds that the motion is well
taken and should be granted.
IT IS THEREFORE ORDERED that this lawsuit and all claims asserted herein should be
and are hereby dismissed with prejudice with each party to bear its own costs.
SO ORDERED AND ADJUDGED, this the 12th day of July, 2016.
s/William H. Barbour, Jr.
UNITED STATES DISTRICT COURT JUJDGE
Agreed to:
/s/ R. Mark Hodges
R. MARK HODGES (MS BAR #2493)
WILLIAM J. DUKES (MS BAR #103594)
WISE CARTER CHILD & CARAWAY, PA
P. O. Box 651, Jackson, MS 39205-0651
T: 601-968-5500; F: 601-968-5519
Attorneys for Plaintiffs
/s/Stephen B. Simpson
STEPHEN B. SIMPSON (MS Bar #6809)
DEUTSCH KERRIGAN, L.L.P.
2510 14th St., Ste. 1001, Gulfport, MS 39501
T: 228-864-0161; F: 228-863-5278
Attorneys for Defendants
I guess that means that he is an expert in cyber sercurity. Thats a win for Cipherloc!
Just doing my DD.
Only he and you would know if that were to be true, he has never made that in a public statement or in his presentations. DD
If you can't break the algorithm in our life time using the fastest computers available, then I agree that it's safe and unsolvable puzzle.
Really, a private discussion.
Agreed
Virtual Office space?
Where did you get this information from?
Did you ever ask yourself, maybe the company does not want private equity?
The Cipherloc technology speaks for it self! New, Innovative and relevant.
I feel a cool breeze come over Ihub!
Fantastic
You seem to have a lot of information that is not public with your statement "The CEOs own words have the company worth "Millions" using an imaginary valuation formula based on NO RECOGNIZED methodology."