Nubeva Announces Projected Cash Flow Positive Operations in 2023
January 03 2023 - 7:15AM
Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF) today announced
projected cash flow positive operations in the 2023 fiscal year
following a new seven figure contract closed in December of 2022.
“In less than one year, we have released our
breakthrough ransomware reversal technology, built a robust
pipeline, and are beginning to close significant deals, including a
seven-figure contract at the end of the year. With that win, I
expect we will be cashflow positive in our operations this year,”
said Randy Chou, CEO and Founder of Nubeva. “At this point, I do
not expect that Nubeva will need any further capital investments to
maintain operations nor to fuel growth. I feel very good about
where we are at this time.”
Nubeva’s patented Ransomware Reversal software
captures ransomware encryption materials at the moment of attack,
enabling victim organizations to decrypt ransomed files without
paying the ransom. In addition, the software collects vital
metadata on the attack to aid in incident response, significantly
aiding triage, investigations, and threat removal.
“Ransomware continues to cripple organizations
of all sizes. Nubeva gets systems back online via high-speed
decryption without paying ransoms,” said Steve Perkins, CMO of
Nubeva. “The value of decryption as a recovery method is immense.
It is usually the fastest, easiest, and most economic way to get
systems back online. But until now, decryption of modern ransomware
has only been available from the attackers themselves with lengthy
negotiations and ransom payments. Nubeva is making decryption a
mainstream recovery option for enterprises everywhere. We are
excited for what is to come in 2023.”
About Nubeva Technologies
Nubeva Technologies provides next-generation
decryption solutions for faster, lower-cost recovery from
ransomware attacks. Its mission is to reduce downtime costs and
damages so businesses never pay ransoms again.
Nubeva’s ransomware reversal software is
available to end-user enterprises, managed security service
providers, incident responders, and cybersecurity solution
manufacturers. For a private briefing on Nubeva’s ransomware
reversal and retrieval abilities, Contact Us.
Forward-Looking Statements
This news release contains “forward-looking
information” within the meaning of applicable securities laws
relating to the Company's business plans and the outlook of the
cybersecurity industry. Although the Company believes in light of
the experience of its officers and directors, current conditions
and expected future developments, and other factors that have been
considered appropriate that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release, and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws. The Company
undertakes no obligation to comment on analyses, expectations, or
statements made by third parties regarding the Company, its
subsidiaries, their securities, or their respective financial or
operating results (as applicable).
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this release.
For additional information or to schedule interviews, contact:
Steve Perkins
Chief Marketing Officer, Nubeva
sperkins@nubeva.com
(714) 261-9948
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