SideChannel Inc (SDCH)

[TronCarter]

I'd love to know Besser's opinion of Wilkinson!

Michael de la Garza and Tom Wilkinson burned through Cipherloc's (CLOK) money in less than 3 years!

AUSTIN, TX / ACCESSWIRE / July 31, 2018 / CipherLoc Corporation (OTCQB: CLOK), a leading provider of highly-secure data protection technology, today announced that it has completed a private placement of $17,250,000 million in gross proceeds before deducting offering expenses, pursuant to which Cipherloc issued a total of 17,250,000 shares. Paulson Investment Company served as the sole placement agent for the offering.

“This oversubscribed placement was supported by a wide range of retail and institutional investors who understand the unique and critical nature of CipherLoc’s polymorphic encryption platform to securing data in an increasinglydata driven world,” said Michael DeLaGarza, Chief Executive Officer of CipherLoc. “In addition to early wins confirming the capabilities of our encryption platform, we have a rapidly expanding pipeline of government, enterprise and reseller customers proactively seeking our unique solutions to secure their mission critical data. Demand for our solutions continues to increase rapidly due to our unique capabilities and solution designs for software, hardwareand combination implementations.”

Net proceeds from the private placement will be used to support expansion of CipherLoc’s sales and marketing team to meet market demand for its platform, strategic actions, and further development of its platform to address an ever broader demand for security solutions.

Each unit sold in the fundraising includes one common share and one warrant exercisable at a price of $1.20 per share.