Safe-T® Group Ltd. (Nasdaq, TASE: SFET), a
provider of secure access solutions and intelligent data
collection, has issued a letter to shareholders from its Chief
Executive Officer, Shachar Daniel.
Dear Shareholders,
Earlier this week, we announced a $9.75 million
registered direct offering to significantly strengthen our balance
sheet and provide us with sufficient working capital to support our
growth. Furthermore, certain of our warrants were exercised over
the last week, resulting in additional proceeds to us in excess of
$3 million.
At the beginning of 2020, we set two main goals
for the company to achieve. The first was to continue our
organic growth with our highly scalable business model and the
market adoption of our innovative products. Our second goal was to
induce growth by identifying opportunities and by acquisitions.
During 2020, we completed a successful acquisition of one
company.
Upon the closing of our most recent equity
offering, we expect to have approximately $23 million in cash to
support our M&A strategy and expand our business with
synergetic and highly scalable business model companies, with high
gross margins and/or advanced innovative technologies for long-term
sustainable value.
On a personal note, our current financial
position is the strongest it has been since the company was founded
and I believe that future opportunities are plentiful. I am highly
confident that the new capital will accelerate our revenue
trajectory and will allow us to continue investing in people and
technology while also positioning us to expand our reach in
2021.
We announced early this year that we expect to
report revenues for the year ended December 31, 2020 in the range
of $4.85 million to $4.95 million, an increase in the range of 48%
to 51%, respectively, compared to $3.28 million during 2019. We
began 2021 excited to continue our momentum and presence,
strengthening collaboration with our distribution partners with
virtual events and attending several investor and cybersecurity
conferences. We launched a new breakthrough product in early
February, a new residential network for the multibillion-dollar
sneaker resale market. It utilizes the unique and advanced network
capabilities of Safe-T’s business Internet Protocol (IP) proxy
platform and its consumer IP proxy solutions.
As 2020 was a milestone year for our team and
shareholders, our mission has always been to be the leading
provider of IP proxy (intelligent data collection) and
cybersecurity solutions, rapidly penetrating the $10+ billion
cybersecurity market, and we plan to continue to invest in this
vision.
On behalf of the entire team at Safe-T Group, we
look forward to sharing our future successes with all of you.
Sincerely,
Shachar Daniel, Chief Executive Officer
About Safe-T® Group
Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a
provider of access solutions and intelligent data collection.
Our cloud and on-premises solutions mitigate
attacks on enterprises’ business-critical services and sensitive
data, while ensuring uninterrupted business continuity.
Organization’s access use cases, whether into the organization or
from the organization out to the internet, are secured according to
the “validate first, access later” philosophy of Safe-T’s zero
trust. This means that no one is trusted by default from inside or
outside the network, and verification is required from everyone
trying to gain access to resources on the network or in the
cloud.
The wide range of access solutions, empowered by
our patented reverse-access technology and proprietary routing
technology, reduce organizations’ attack surface, improve their
ability to defend against modern cyberthreats and enable them
smooth digital transformation and to safely migrate to the
cloud.
We also offer intelligent data collection cloud
service, based on our world’s fastest and most advanced &
secured business proxy network which enables clients to collect
accurate, transparent & sensitive data from public online
sources.
Safe-T’s solutions on AWS Marketplace are
available here
For more information about Safe-T, visit
www.safe-t.com
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Safe-T is using
forward-looking statements in this letter when it discusses
preliminary unaudited estimates of revenues for the year ended
December 31, 2020, its M&A strategy and potential expansion of
its business, its ability to create long-term sustainable value,
its future opportunities, acceleration of its revenue trajectory,
its continued investing in people and technology, expansion of its
reach in 2021, its ability to continue its momentum and presence
and strengthen collaborations and its ability to penetrate the
cybersecurity market. Because such statements deal with
future events and are based on Safe-T’s current expectations, they
are subject to various risks and uncertainties and actual results,
performance or achievements of Safe-T could differ materially from
those described in or implied by the statements in this press
release. The forward-looking statements contained or implied in
this press release are subject to other risks and uncertainties,
including those discussed under the heading “Risk Factors” in
Safe-T’s annual report on Form 20-F filed with the Securities and
Exchange Commission (“SEC”) on March 31, 2020, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Safe-T undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Safe-T is not responsible for the contents of third-party
websites.
The above information includes a preliminary
estimate with respect to Safe-T’s revenues for the year ended
December 31, 2020, based on currently available information. Safe-T
is providing a range, rather than a specific amount, for this
preliminary estimate primarily because the financial close process
and review are not yet complete and, as a result, Safe-T’s final
results upon completion of its closing process and review may vary
from the preliminary estimate.
INVESTOR RELATIONS CONTACTS:
Chris Tyson Executive Vice
President MZ Group - MZ North
America
949-491-8235 SFET@mzgroup.us www.mzgroup.us
Gary Guyton MZ Group - MZ North America 469-778-7844
SFET@mzgroup.us www.mzgroup.us
Michal Efraty+972-(0)52-3044404 michal@efraty.com
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