Emerging Technology

SoLVBL Solutions Inc. Kaiser Akbar President & Chief Executive Officer of SoLVBL Solutions reports that the Company's board of directors have approved the grant of options to purchase up to 4,425,000 common shares at an exercise price of $0.075 per share to employees, consultants, officers, and directors of the Company. The options were granted November 29, 2021, with 3,525,000 options vesting immediately and ...

SoLVBL Solutions Inc. (CSE: SOLV) ("SoLVBL Solutions" or the "Company"), Kaiser Akbar President & Chief Executive Officer of SoLVBL Solutions reports that the Company's board of directors have approved the grant of options to purchase up to 4,425,000 common shares at an exercise price of $0.075 per share to employees, consultants, officers, and directors of the Company. The options were granted November 29, 2021, with 3,525,000 options vesting immediately and 900,000 vesting in equal 36-month instalments. All are valid until November 28, 2026.

About SoLVBL Solutions Inc.

SoLVBL Solutions Inc. takes a different approach to cybersecurity with its proprietary Q by SoLVBL™ protocol that quickly and cost-effectively establishes the authenticity of digital records at very high speed. We don't believe that any system is 'un-hackable', no matter how secure it appears to be, and if a system can be hacked, the data within that system is subject to manipulation. Bad data leads to bad decisions. Our Mission: 'To empower better, faster decisions by developing a universal standard for establishing digital record authenticity which is easy to adopt, cheap to use, offers cryptographic assurances, and will not bottleneck systems.' The Company is currently pursuing the following verticals: chain of custody for digital evidence including NG-911; data used in the financial sector; medical applications; and critical IoT infrastructures.

For Further Information, Contact:

SoLVBL Solutions Inc.
Kaiser Akbar, President & CEO
100 King Street West, Suite 5700
Toronto, ON, M5X 1C7
E: info@SoLVBL.com
T: 416.450.5995

Cautionary Note Regarding Forward-looking Information

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105834

News Provided by Newsfile via QuoteMedia

SoLVBL Solutions

SoLVBL Solutions



SoLVBL Solutions (CSE:SOLV) is a technology company developing software as a service (SaaS) products designed to provide authenticity and security to existing data management systems, specifically digital financial platforms and information databases. SoLVBL is focused on developing data management and protection solutions designed for businesses with sensitive data worth forging, with potential applications in a number of industries.

The company’s flagship product, Q By Solvbl, is designed to encrypt and store a representation of the data, allowing seamless cooperation between businesses and users. By cryptographically sealing a representation of the data, rather than the data itself, SoLVBL is able to remain data agnostic and maintain an additional level of security. Q By SoLVBL can be used as a digital payment instrument, a means of fraud protection, or as a central authority for verifiable data repositories.

Q By SoLVBL is an enterprise-level data protection platform capable of processing over 150,000 transactions per second. The platform is offered through SoLVBL’s SaaS business model, which the company intends to expand through additional product offerings that leverage the Q by SoLVBL digital infrastructure. Q By SoLVBL is backed by a private blockchain to ensure the credibility of the data on the platform. By providing an immutable record of all data used, SoLVBL is able to operate the platform through compartmentalization without having direct access to the data itself, providing an additional layer of security.

The Q By SoLVBL system is designed to enable secure digital payments for existing banking systems. The company’s fraud prevention system was designed with incidents like the notorious Bangladesh bank heist in mind. The heist saw hackers withdraw over US$81 million from banks using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, demonstrating the need for financial institutions to keep pace with the technological capabilities of hackers and cybercriminals.

SoLVBL Solutions’ Company Highlights

  • Global fraud detection and prevention market is expected to grow from US$19.5 billion in 2018 to US$63.5 billion by 2023 at a CAGR of 26.7 percent
  • Q By SoLVBL leverages a private blockchain to ensure an immutable representation of the data, without giving actual file access
  • Representation of the data is cryptographically protected, ensuring all parties can rely on data presented on the platform
  • ‘Q’ Platform can be adapted for additional security applications including the SWIFT network, B2B transaction improvements and data repository solutions
  • Q By SoLVBL is capable of processing 150,000 transactions per second based on trials conducted by the company using the cloud


Q By SoLVBL is the company’s proprietary software designed to digitally “stamp” or “seal” data through encryption, enabling verifiable digital payments with fraud prevention and other security services. The Q By SoLVBL system can also be applied to varying types of digital data, enabling a verifiable data repository that can be relied upon by businesses utilizing the platform.

As shown by the Bangladesh bank heist, during which hackers escaped with US$81 million in stolen funds, there is a need for financial institutions to improve the security standards protecting their data. “Increasing revenue losses for organizations due to the rising fraudulent attacks, increasing use of electronic transactions across all the verticals and increasing sophistication level of cyber-attacks across all regions will contribute to the growth of the overall FDP market,” said Markets and Markets in a report on fraud detection and prevention. According to the company’s projections, the fraud detection and prevention market is expected to grow from US$19.5 billion in 2018 to US$63.5 billion by 2023 at a compound annual growth rate (CAGR) of 26.7 percent.

By providing an enterprise-level platform capable of quickly verifying data, including financial information, Q By SoLVBL has the potential to enable new levels of cooperation between businesses that can agree on the reliability of the information on the platform without the need to independently verify the data. In addition to financial services, the Q By SoLVBL platform can be adapted to serve any industry that relies on sensitive data worth stealing or forging. Whether the underlying information includes financial data, medical data, product specifications or pharmaceutical information, all forms of digital information can be immutably protected and referenced for trustless use between parties.

Moving forward, SoLVBL intends to continue to develop payment security and risk reduction applications for financial networks while also working to improve B2B transactions on the Q payment platform.

Solvbl Solutions’ Q Authentication Platform

SoLVBL plans to monetize its Q Authenticity Platform, including Q By SoLVBL, by collecting a percentage of financial transactions conducted on the network. The company also intends to offer tiered pricing for access to the network.

Moving forward, SoLVBL is working to develop a digital cheque that can be authorized and encrypted in order to improve the efficiency and safety of transferring funds in the digital domain. The company is also exploring the potential to apply its technology its technology to Next Generation 911, Chain of custody authentication for digital evidence and Supply chain sensors such as trackers.

SoLVBL Solution’s Management Team

Raymond Pomroy, CEO

An international manager, who has exceptional experience in business management and supply chain management (e.g. Make, Plan, Source, Deliver) primarily in UK, Holland) Canada and the US. Prior to joining Agile, Raymond had been working in a multinational consumer goods company for 30 years, and managed all elements of supply chain, including USD$2.8 billion in product supply, six factories in North America, and over 2,000 employees. He is experienced in supply chain strategy development, global supply, organizational redesign and implementation of restructuring, contract negotiations, and cost reduction activities. Raymond holds a Bachelor of Science and DIS from Loughborough University (UK).

Khurram R. Qureshi, CPA, CA, CFO

Khurram Qureshi brings over 22 years of experience in the field of accounting and corporate finance. Khurram qualified as a Chartered Accountant in 1990 and has held senior positions with several small to medium-size public companies. He has been a key member on several merger and acquisition teams.

Vikas Gupta, Director

Vikas is a seasoned executive with an entrepreneurial DNA and has a strong track record with private and public companies. He is well versed in gamification, digital distribution, video games, interactive entertainment and content. Additionally, he has also built very strong expertise in financings, the creation of unique revenue models, the monetization of complex technologies, leadership, and overall growth.

Musabbir Chowdhury, Director

Musabbir is an engineer who is a business, education and technology consultant with over 20 years of  IT achievements. Musabbir is a former Professor at the Niagara College School of  Business, and former director of Pi Lab, an innovation & productivity hub at Niagara College. Currently, Dr. Chowdhury is the Dean of Business at Fleming College in Ontario.

Brenda Brown, Director

Brenda is the former Senior VP of  Global Talent Management at Compass Group PLC and has over twenty-five years of business experience in all aspects of  Human Resource management in both union and non-union environments.  As a member of the executive management team, Brenda was involved in key strategic business decisions and was responsible for the development of employee programs, corporate culture development and assisting in ensuring the success of the corporate vision.

Alan Rootenberg, CPA, CA

Alan Rootenberg is a chartered professional accountant who has served as the Chief  Financial Officer of a number of publicly-traded companies listed on the TSX, TSXV, OTCBB, and CSE. These companies include mineral exploration, mining, technology, and companies in the burgeoning cannabis industry. He was also an investor in an early stage private cryptocurrency company. Alan has a Bachelor of  Commerce degree from the University of the Witwatersrand in Johannesburg, South Africa and received his CPA designation in Ontario, Canada.

Keep reading... Show less

OpenText Announces Strategic Appointments

OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced certain strategic appointments and changes to its Executive Leadership Team.

Keep reading... Show less

Faurecia Streamlines International Procurement Process with OpenText

Global company enhances invoice visibility and drives efficiency with OpenText Vendor Invoice Management for SAP Solutions

OpenText ™ (NASDAQ: OTEX), (TSX: OTEX), today announced, Faurecia, a global leader in automotive interiors and emission control technology, implemented OpenText™ Vendor Invoice Management (VIM) for SAP® Solutions to manage and access high volumes of information and drive efficiency of procurement operations.

Keep reading... Show less

OpenText to Report Second Quarter Fiscal Year 2022 Financial Results on Thursday, February 3, 2022

- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), announced today that financial results for its second quarter fiscal year 2022 will be released on Thursday, February 3, 2022 at approximately 4:00 p.m. ET .

Keep reading... Show less

OpenText Buys Zix Corporation

OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced that it has completed the closing of the previously announced acquisition of Zix Corporation (NASDAQ: ZIXI) ("Zix"), a leader in SaaS-based email encryption, threat protection and compliance cloud solutions for Small and Medium-sized Businesses (SMBs).

Keep reading... Show less
SoLVBL Solutions Inc. Announces Upgrade to OTCQB Under Ticker "SOLBF"

SoLVBL Solutions Inc. Announces Upgrade to OTCQB Under Ticker "SOLBF"

SoLVBL Solutions Inc. (CSE: SOLV) (OTCQB: SOLBF) ("SoLVBL" or the "Company"), is pleased to announce that after successfully completing the application process, the Company has received approval from OTC Markets Group Inc. for its common shares to begin trading on the OTCQB Market ("OTCQB") under the symbol "SOLBF". The Company's common shares will remain listed on the CSE in Canada under the ticker symbol "SOLV".

OTC Markets Group Inc.1, located in New York, N.Y., operates the world's largest electronic inter-dealer quotation system for broker dealers to trade over 10,000 securities. The OTCQB is a transparent trading platform that offers a cost-effective method for United States investors to access SoLVBL's securities. SoLVBL's quotation and trading on the OTCQB provides investors the opportunity to benefit from streamlined market standards which enhance the availability of information to the general public, enabling greater transparency. North American and international investors can find Real-Time level 2 quotes (denominated in US dollars) and market information for SoLVBL common shares at https://www.otcmarkets.com/stock/SOLBF/overview along with current company news.

Keep reading... Show less

OpenText Extends Tender Offer for Zix Corporation

In connection with the previously announced agreement to acquire Zix Corporation (NASDAQ: ZIXI) ("Zix"), OpenText™ (NASDAQ: OTEX) (TSX: OTEX) announced today that it has extended the expiration of its tender offer for all outstanding shares of common stock of Zix at a price of U.S. $8.50 per share, through its subsidiary, Zeta Merger Sub Inc.  The tender offer is now scheduled to expire at one minute after 11:59 P.M., Eastern time on December 22, 2021 unless it is further extended. The tender offer was previously scheduled to expire at one minute after 11:59 P.M., Eastern time on December 20, 2021 .

The depositary for the tender offer has advised OpenText that as of the previous expiration time there were validly tendered and not withdrawn a total of approximately 33,967,027 shares of Zix common stock, including approximately 5,397,062 shares of Zix common stock tendered pursuant to a notice of guaranteed delivery. The tender offer is being extended to allow for those shares tendered pursuant to a notice of guaranteed delivery to be delivered, which can take up to two business days. Assuming no validly tendered shares of common stock are withdrawn, all shares of common stock subject to a notice of guaranteed delivery are delivered, and all shares of Zix Series A Preferred Stock are converted into Zix common stock and validly tendered pursuant to the Tender and Voting Agreement with Zephyr Holdco LLC, approximately 54,807,927 shares of Zix common stock would be tendered, representing approximately 70% of the shares outstanding (including shares of common stock issuable upon the conversion of Series A Preferred Stock) and the minimum tender condition would be satisfied.  All other conditions to the tender offer (other than such conditions which by their terms can only be satisfied on the expiration date) have been satisfied.  Accordingly, OpenText and Zix expect the transaction to close on Thursday, December 23, 2021 .

Keep reading... Show less

Latest Press Releases

Related News