HARRISON, N.Y., June 29, 2016 /PRNewswire/ -- MGT Capital
Investments, Inc. (NYSE MKT: MGT) today announced that it has hired
the development team of E-Tagged, including Robert Rogers and Joshua
Kowalchuk, in order to commercialize the E-Tagged mobile
device tracking technology.
E-Tagged is a cyber security product designed to alert and
detect the identity of approaching individuals or motor vehicles by
utilizing a proprietary technology that analyzes the radio signals
broadcast by cell phones. The E-Tagged technology can provide
homeowners and businesses with information related to the
geographic approach of persons, known and unknown. With variable
gain antennas, the system can be configured within a range of from
100 feet to three miles from the system. The MAC address of the
mobile device is logged and the cell phone number is
recorded. In the event the homeowner is away, the system can
be configured to call, email or text the homeowner.
"The long term value of E-Tagged will be to augment soon to be
released products that secure digital networks and home systems
from unauthorized hacking or unwanted intrusions. This product
integrates well with our plans," said John
McAfee, MGT's proposed Executive Chairman and CEO. "We are
also gratified that Rob and Josh have decided to apply their
skillsets to our exciting enterprise. Together they have developed
a valuable technology in E-Tagged that has multiple
applications. We look forward to working with them in
advancing this innovative technology into a commercial offering,"
concluded Mr. McAfee concluded.
The addition of Robert Rogers and
Joshua Kowalchuk to the Company's
roster of talented developers will be essential to the
commercialization of the E-Tagged technology. Both, Rogers and
Kowalchuk have a lifelong passion for computers, harnessing their
skills well before graduating from Durham College in Ontario, Canada. Following graduation the pair
consulted IT services for many people and businesses until founding
their first company in 2010, delivering people in rural areas of
Durham high internet service. In
2012, their company Ontario High Speed, Inc. had its data center
and first gigabit optical circuit become operational. In 2013, the
first prototype of E-Tagged was developed as an anti-theft device
for a tractor dealership.
Under the terms of the Company's employment agreement with Mr.
Rogers and Kowalchuk, MGT will assume control over the E-Tagged
technology and ownership of the IP developed.
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.
For more information on the Company, please visit
http://ir.stockpr.com/mgtci.
Forward–looking Statements
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.
Investor Contact
Garth
Russell
Managing Director
KCSA Strategic Communications
grussell@kcsa.com
212.896.1250
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SOURCE MGT Capital Investments, Inc.