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Identillect Technologies Corp V.ID

Identillect Technologies Corp. operates through its wholly owned subsidiary, Identillect Technologies Inc. is a software development company that has developed an email encryption software solution. Its activities include research, design, and development of an email encryption solution for use by business and individuals in their day-to-day communication. Its software Delivery Trust is a proprietary email encryption technology targets organizations of all sizes, as well as individuals medical professionals, insurance companies, accountants, lawyers, real estate agents, and educators on a monthly subscription basis. Delivery Trust can be accessed by professionals on a range of electronic communication devices. Delivery Trust integrates multi-factor authentication (MFA) for account login as well as recipient verification. MFA combines two or more independent credentials: what the user knows (password), what the user possesses (token) or what the user is like (biometric verification).


TSXV:ID - Post by User

Post by activeamyon Dec 06, 2019 12:54pm
190 Views
Post# 30429486

AGM

AGMIve had a lot of DMs from folks wanting an update. So Ill just post it here. The AGM was informative, but I came away from it not very hopeful to be honest. They are nice folks and very professional. The decrease in Revenue is because over the past couple years they did focus on re-sellers and I guess this strategy has pretty much flopped. They are having hard time collecting whats owed to them. So, this year they took a different strategy and are now focusing on large organizations (hence the bar associations, real-estate, medical) as they feel there is better opportunity there and in the future. They have signed up a lot of bar associations over the past year or so, so I asked then why are you not seeing much revenue yet? Their response was basically revolved around Education. Which makes sense I guess. I mean, cybersecurity is relatively new in the sense that many people/organizations dont really know what it is or how it may affect them or their organizations. Most people believe a breach cannot happen to them so they feel there is no real added benefit in buying a cybersecurity product. Until it happens, then people start to notice. IDs product is like a insurance product, so trying to sell a product like that is very difficult. Most people hate buying home insurance and only do so because to get a mortgage the lender requires insurance. What I would like to see is the bar associations requiring, or at least incentivizing, their members to buy delivery trust. Even with ID providing discounts there is no traction. I forgot to ask about CalBar (sorry!), I do believe starting in 2020 there is some sort consumer privacy act going into effect that makes it mandatory for business to comply with protecting client data. I forgot to ask how they are looking to take advantage of this. They do not like to comment on stock price, but did say that the fundamentals of the company have not changed, and that what happened in 2017/18 with the bitcoin/weed frenzy, and the fact IDs SP went up threefold, was not based on fundamentals and made no sense. But, prior to this in 2016/2017 IDs SP was around 9-13 cents, so the fact it is now sitting at 1 cent is a hard pill to swallow for many investors. They remain confident in the product, its just getting that education out to the masses is difficult. Todd travels a lot and seems to just do presentation after presentation. Anyways, when the stock is a 1 cent, might as well hang on for the ride, right?
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