GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) has confirmed that despite the economic slowdown in many of the countries in which it has distribution agreements due to the coronavirus (COVID-19) pandemic, sales of its Sekur cybersecurity product will meet or beat the group’s internal targets for 2020.
The company, the leader in Swiss-hosted cybersecurity and Internet privacy solutions for secure data management and secure communications, noted that it has been able to compile an estimate of sales for Sekur for the remainder of this year, after discussions with several of its distributors in Canada, USA, Latin America, the Bahamas, and South Asia.
It said that although most markets are still recovering from the COVID-19 pandemic economic damages, sales are expected to attract a minimum of 1,000 paid users and reach a potential of 5,000 paid users in 2020, depending on economic factors.
This will bring in recurring yearly gross sales of US$70,000 to US$350,000 for 2020, through distributors, with an estimated increase of 100% in volume of paid subscribers sold for 2021 as the company expands into other markets, such as the Middle East, Africa and Australia, the group added. The licenses in South Asia are paid on a yearly basis in advance, as they are activated.
GlobeX said it expected a lower paid-subscriber base in 2020, due to the economic damage inflicted by the COVID-19 pandemic, however, cyber-attacks and BEC attacks on enterprises and government infrastructures have created an immediate need for Sekur.
The company pointed out that it has already received interest for Sekur for 2,000 users in South Asia and Central America from two distributors, and is working diligently to try to close these opportunities before December 31, 2020.
The group said it is also having advanced discussions with its distributor in Toronto Canada, Darn IT Group, in order to find large scale distribution in Canada and has had early discussions with a large distributor that wishes to remain anonymous due to the nature of the discussions as the distributor is looking at a possible exclusivity agreement for Canada.
Sekur is the company's Swiss hosted secure communications suite, which includes encrypted messaging, voice recording transfer, self-destruct timer, an encrypted email account and a secure file transfer solution. All data is secured using GlobeX's proprietary encryption technology and is hosted exclusively in Switzerland for ultimate privacy.
Sekur eliminates many of the privacy and security risks by not only not requiring a phone number, which would divulge a user's phone device ID, but also by not social engineering a user's phone or computer contact list and infecting the contacts by default as well. Sekur issues each user a username and a SM number. The SM number is the contact ID a user would disclose in order for other SM users to be added.
The service comes with a self-destruct timer and other features as well, including GlobeX's proprietary VirtualVaults and HeliX technologies with all data stored in Swiss hosted encrypted servers.
Under Swiss federal law, it is a crime to publish information based on leaked "secret official discussions." In 2010 the Federal Supreme Court of Switzerland found that IP addresses are personal information and that under Swiss privacy laws they may not be used to track Internet usage without the knowledge of the individuals involved.
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