Nubeva Announces a New Seven-Figure Sale to Large Global Company and Provides Correction to January 3rd Press Release
January 04 2023 - 7:29AM
Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF)(“Nubeva” or the
“Company”) announces it has a signed a new three-year contract for
seven figures per year with a large global services company for the
Company’s Ransomware Reversal solutions. Further details of the
contract, customer, and industry remain confidential for security
purposes.
“After a slight lull in ransomware in the first
half of 2022, we are seeing a significant uptick in activity across
the globe, attacking organizations of all sizes across all
sectors,” said Steve Perkins, CMO, and Head of Product. “This
contract is very significant for us because it is with a large
multi-national company, and it has the potential to grow over the
life of the agreement. It demonstrates that large and global
companies value our Ransomware Reversal offerings. We are excited
to close more deals of this caliber in 2023.”
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
helping triage, investigations, and threat removal.
Correction To Press Release of Jan 3, 2023
In the Jan 3, 2023, Nubeva press release headlined “Nubeva
Announces Projected Cash Flow Positive Operations in 2023,” it was
stated that the company “projected cash flow positive operations in
the 2023 fiscal year.” This statement is incorrect. The Company
expects to be cash flow positive for the calendar year of 2023, not
the company’s fiscal 2023 year. This expectation is provided by
management in order to allow readers to assess the Company’s
potential development and capitalization during calendar 2023 and
may not be appropriate for other purposes.
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” and “financial outlook” within the meaning of
applicable securities laws relating to the Company's business
plans, the outlook of the cybersecurity industry and the
expectation that the Company will be cash flow positive for
calendar 2023. 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 and financial outlook 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 for reasons relating to the
development and adoption of the Company’s technology, and its input
and capital cost requirements, among other factors. 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
Nubeva Technologies (TSXV:NBVA)
Historical Stock Chart
From May 2024 to Jun 2024
Nubeva Technologies (TSXV:NBVA)
Historical Stock Chart
From Jun 2023 to Jun 2024