Files Q2 2021 Financial Results OTTAWA, Aug. 22, 2021 (GLOBE NEWSWIRE) -- Leonovus Inc., (“Leonovus”) (TSXV: LTV) announces the filing of its unaudited Interim Financial Statements and Management Discussion and Analysis (“MD&A”) for the quarter ended June 30, 2021. Our MD&A contains a comprehensive discussion of Leonovus’ financial position and results of operations and is available on SEDAR at www.sedar.com. Amounts are in Canadian dollars.
The Company closed a $3.44 million marketed short form prospectus offering on May 2, 2021. These funds supported hiring additional sales staff and software developers and funding new marketing and product initiatives.
“As noted in previous communications, our sales strategy focuses on the Canadian federal government (“GOC”) as the anchor set of customers. We are three years into this strategy, and the number of departments interested in our technology has increased significantly over the past quarter. We are currently responding to a major GOC RFP regarding our XVault and Smart Filer technology. Because of recent accelerating GOC interest, product management has prioritized completing several XVault features, which will delay our standalone ransomware offering by a quarter. However, ransomware protection will be a key feature in our XVault solution,” said Michael Gaffney, Chair and CEO, Leonovus Inc.
“Given our current accelerating traction in the GOC, several resellers and system integrators have started engaging and testing our technology. We expect to announce new GOC sales channel partners in the next few months,” said Gaffney.
About Leonovus
Leonovus is a software provider that offers storage solutions that untether your data, allowing you to embrace cloud storage securely, simply, and cost-effectively while giving you the flexibility to deal with the ever-evolving cloud storage landscape.
Leonovus Smart Filer is an information lifecycle management (ILM) solution that analyzes existing file storage and extends its capacity automatically and transparently. According to customer-defined policies, infrequently accessed files are automatically removed from high-cost, high-performance primary storage, and placed in secondary or cloud storage, without any changes to how users and applications access them.
Designed with the IT manager in mind, Leonovus Vault uses patented algorithms to analyze, classify, encrypt, shred, and spread data across a network of on-premises, hybrid or multi-cloud storage nodes – allowing for the most secure yet internally accessible form of object-based data storage across the entire solution. The advanced geo-distributed architecture minimizes latency, optimizes geo-availability, reduces remote backup costs and meets data sovereignty requirements. With its software and hardware agnostic design, Vault provides petabyte scalability. It allows the enterprise to use its existing idle storage resources, extend the useable lifespan of depreciated resources and improve the enterprise's overall ROI.
To learn more, please visit www.leonovus.com.