SARASOTA, FL, May 10, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – CyberloQ Technologies, Inc. ("CyberloQ" or the "Company") ( CLOQ ) is pleased to announce the following update on the Company's business and information objectives going forward.
CyberloQ Technologies, Inc. has upgraded to the OTCQB market; this demonstrates the company’s ongoing commitment to adhere to U.S. State and Federal securities laws. Providing investors with current information helps reduce trading restrictions that may be faced on the Pink Market. In the complex "startup" context, we are fortunate to have a solid group of shareholders supporting to transform the CyberloQ product suite into a robust and extensible cybersecurity SaaS (Software as a Service) Platform. As we near completion of this large-scale investment in our product, the Board of Directors recognized the corresponding opportunity, through this move to the OTCQB market, to make a similar investment in the Company's public-market presence. This upgrade to the OTCQB will provide the Company with greater liquidity and access to capital for future growth and operating expenses.
Specifically regarding the development of our cybersecurity SaaS Platform, the Company anticipates that the initial phase of integration with Pannovate's Banking Orchestration Platform to be completed toward the end of Q2, 2023.
Award winning platform Pannovate is a Banking-as-a-Service and orchestration layer that enables banks, fintech and businesses to power growth and deliver seamless digital and embedded finance experiences to transform lives, working globally with innovators, digital banks and cutting-edge startups.
The CyberloQ Secure™ Platform is the most robust and extensible geolocation-based Multi-Factored Authentication (MFA) technology available, and we are making tremendous progress to complete its integration into the Pannovate’s Banking Orchestration Platform. This combined functionality will create a distinct and unique cyber-security solution specifically for the banking and payment industry by equipping Pannovate's Platform with the most comprehensive security suite available for combating fraud for its clients.
“We are excited to see all of the collaboration between our two companies coming to fruition in this integrated set of security capabilities…" said Chris Jackson, CEO of CyberloQ. “Further combining our collective strengths is key to our vision of exploring new technologies and partnerships in new and exciting industries that need CyberloQ.”
Commenting on the future plans for Pannovate and CyberloQ, Pavle Ljujic, CEO, Pannovate said, “So many fintech solutions are just that – ‘solutions’ to identify or fix problems. This can be said of many security technologies out there, which detect fraud once it has already happened. CyberloQ’s unique ‘next gen’ authentication product actually prevents fraud in the first place, removing the problem, rather than simply finding it retrospectively. At Pannovate, we approach things in the same way – designing digital first, future flexible, infrastructure that enables businesses to achieve their full potential. I believe that, through this shared ethos, combined with the integration of our cutting-edge technologies, we have the potential to revolutionize the security space.”
Safe Harbor:
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
The Company discourages any and all promotional activity by non-Company actors, and encourages investors and potential investors to review the Company's public filings, its website and its press releases, and to discuss these matters with their personal legal and financial advisors. Non-Company newsletters/recommendations, websites or general stock symbols/classifications or other identifiers regarding our securities, whether positive or negative, should not be relied on because these items are simply opinions/policies of a third party. These third parties are, in many instances, paid by the publisher or other third parties and the Company believes that they profit from the publication of this literature and the results on the market. These materials should not be a substitute for investors' research and/or independent decision-making.
Chris Jackson
612-961-4536
chris@turnscor.com
