Data security continues to play an integral role in keeping information secure for both businesses and individuals. Companies like
SoLVBL Solutions Inc. (
CSE.SOLV,
OTCMKTS: SOLBF,
Forum) are at the forefront of innovative data security products.
Case in point, the Toronto-based company is a cybersecurity engineering company specializing in applications that address critical data integrity problems.
(Click image to watch video)
Stockhouse Media’s Jocelyn Aspa had the opportunity to catch up with SoLVBL Solutions interim CEO Kaiser Akbar to discuss some of the company’s recent changes and what investors can look forward to in the coming year.
TRANSCRIPT BELOW
SH: Can we first start off with you providing a brief overview of yourself and the company?
KA: Thank you, Jocelyn. Well by training, I'm a securities lawyer. I've been in the legal practice for the past more than 23 years, but I've been involved in start-ups in Canada and overseas for many years, at least for the last, well, as long as I've been practicing and I've been involved with mostly small cap and medium cap companies starting from i
ncorporation to financing, to listing and through the growth process. That's sort of my background, and in terms of the company SoLVBL, I'm very excited to be part of SoLVBL. I have been involved with SoLVBL from the very beginning of its existence, through its growth process from when it was a private company to various stages of financing to it being listed on the Canadian Securities Exchange (CSE) and with the development of its best-in-class, world-class cyber security product would be called Q by SoLVBL.
SH: You were recently appointed as the company’s interim CEO and president — what will be the company’s direction going forward?
KA: Well, after more than two years of research and development in developing this cryptographically validated, patentedcybersecurity product, the company is now ready to go to market. We are currently in discussions with financial institutions in Canada and the US, with security companies in both countries. So, the goal is starting in the new year, we want to go full steam ahead with our sales and marketing and get as many sales as possible. Our goal is to generate revenue as soon as possible obviously and also to continue with the research and development work and we'll continue to fine tune it and create new and more exciting products for the cyber security world.
SH: SoLVBL also just announced it had signed a memorandum of understanding with QuantGate Systems — can you walk us through this and some of the major highlights that investors should know?
KA: Yes, thanks for this question. Yes, it’s extremely important. This is a very important development for SoLVBL because this is our first foray into the financial services sector, which is one of the key verticals that we want to enter, and we've been very lucky to be partnering with QuantGate Systems. QuantGate Systems is a New York based US listed FinTech company with machine learning and artificial intelligence as its core technology. We've been in discussion with them for a while and they really like what we have to offer and so that's where we're at with respect to the with the MOU.Currently both technical teams are discussing the potential of a partnership or what we could do for their company and so the next stage is to get into a pilot project, hopefully early in new year and from then on hopefully move into other financial services security work with other financial services companies in the US and Canada.
SH: In October, the company also announced another major milestone in that it successfully completed an Amazon Web Services technical review — what is the significance of this for the company?
KA: Well, what we did with Amazon Web Services is we wanted to make sure that our product Q by SoLVBL is compatible with a cloud-based service. We were extremely pleased with this review and what it shows is that Q by SoLVBL’s security, reliability, and operational excellence works seamlessly with Amazon Web Services. So, this provides us with another confidence builder for us that we can actually go to market and provide services to our clients on a seamless basis.
SH: With only about a month left of the year, are there any other milestones coming investors should be watching for?
KA: What I would say is stay tuned because we do have more information coming through. Obviously, we don't want to divulge confidential information, that's not in the public sphere but definitely, there is significant information in the pipeline, we don't stop working even during the holidays. So, we will be having more, in fact quite significant information coming out in the next couple of weeks.
SH: Moving into 2022, what are some things SoLVBL has on the horizon?
KA: Well, absolutely 2022 is going to be, we believe our banner year. Our product is ready to go to market. It took us as I mentioned previously, it took us a long time, two years of research and development. We didn't want to go to market early. We wanted to make sure that our product was ready for the market. It was cryptographically verified by one of the top cryptographers. We have a US patent on our product, and it's been tested for thousands of hours internally and with our cryptographers. So now we are ready to go to the market and 2022 is when we will go to market for sales. We also want to add more bench strength to build on our technical team.
We have an excellent technical team of coders and cryptographers and data analysts, but we want to build our team both on our technical side, our operational side, and also our sales and marketing, which is extremely important, both in Canada and US and we will be looking for strategic partners in the US and potential acquisitions of companies in the similar complimentary space and we are also looking into the latter part of next year to expand into the European market.
SH: What makes SoLVBL a good investment right now?
KA:What I can tell you is that the cybersecurity market in 2019 was about $150 billion globally, it's expected to reach about $300 billion by 2027. So, it's about an average growth of say nine and a half percent between 2020 and 2027. You look at our stock price. We believe we are an extremely undervalued stock and all we see is a very, very rosy future, both from a sales perspective but also in our stock price. I would ask the potential investors to look at our news releases, look at our financials and make up your own mind but we would say that definitely SoLVBL is in a very good position and the only way is to go up with our company. So, I think it is extremely good. We are in an extremely good space, and it'll do very well. Whoever sticks with us.
SH: Is there anything I’ve missed that you’d like to touch base on?
KA: Yeah. I mean, anytime you open the newspaper, and you hear about hacks and the ransomware attacks and what we say is if your data is with forging, there will be a hack. We don’t claim that we prevent a ransomware attack or a hack. What we can do is we provide the sealing of data at a very, very high speed, at over 150,000 transactions per second and what we allow is for any data breach, any of our customer's data breach, to be able to be identifiedd almost instantaneously. So, if your data is with forging, then you need to have Q by SoLVBL to protect your data and data integrity.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.