SoLVBL Solutions Inc. (CSE: SOLV) ("SoLVBL" or the "Company") notifies its readers that the Company is providing additional explanation to the news release issued on March 2, 2021, entitled "SoLVBL Solutions Inc. Announces Filing of a Second U.S. Provisional Patent Application" (the "Original Press Release"). Due to recent queries regarding the Original Press Release, the following press release provides additional information and clarification on certain statements regarding filing of the Second U.S. Provisional Patent Application with the United States Patent and Trademark Office (the "Second U.S. Provisional Patent").
In the Original Press Release, the Company set out the parameters of the Second U.S. Provisional Patent encompassing an adaption and optimization of a well-known and time-tested cryptographic algorithm, the algorithm has been adapted to reduce latency in data stream applications.
The Company can report that it has stress tested its product and has a minimum viable product ("MVP") which allows in excess of 150,000 transactions per second, while rendering the transaction records effectively immutable, in that they cannot be forged or altered without detection.
"We are excited about the applicability of the second provisional patent application in the financial sector, and particularly with messaging networks that financial institutions use to securely transmit information and instructions through a standardized system of codes. We believe these messaging networks should be keen to adopt our product that can provide fast, low latency routes to render arbitrary binary records effectively immutable in that they cannot be forged or altered without detection," said CEO of SoLVBL, Raymond Pomroy.
Such functionality opens the door for verifiable data, whose proof of authenticity can be stored and/or transmitted alongside the data itself. What this means is, data, which vouches for its own authenticity and integrity with immediate effect. In other words, Creating Trust Fast.
"The filing of our second provisional patent application validates our intention to create innovative authentication solutions that are designed to prevent, and address security challenges faced by many companies, particularly in the financial sector," said CEO of SoLVBL, Raymond Pomroy.
For further information, please contact:
CEO, Raymond Pomroy
15 Toronto Street, Suite 602
Toronto, Ontario, M5C2E3
SoLVBL is an innovative cybersecurity company. The Company's mission is to empower, better, faster decisions by developing a universal standard for establishing digital record authenticity. The lead product Q by SoLVBL™, is a proprietary software of the company, designed to be easy to use and adopt, economically priced and provide digital record authentication at lightning fast speed. Q by SoLVBL™ allows organizations to establish trust in their data. The Company is currently pursuing the following verticals: data used in the financial sector; chain of custody for digital evidence; including, NG-911, medical applications and critical IoT infrastructures.
The CSE has neither approved nor disapproved the contents of this press release.
NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of the Company to successfully achieve its business objectives, including, the implementation and success of Q by SoLVBLTM, and expectations for other economic, business and/or competitive, factors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, SoLVBL assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration
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