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GlobeX Data sees strong interest in secure communication products as work-from-home population balloons

Snapshot

The company has developed and distributes Swiss-hosted software and cybersecurity solutions that protect data and communications

Cybersecurity

Quick facts: GlobeX Data

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CSE:SWIS

Price: 0.415 CAD

Market Cap: $35.61 m
  • Offers all-in-one data security services in a single, secure platform with information stored in Switzerland
  • Blue-chip partners include America Movil, the third-largest telecoms operator globally with over 300 million subscribers
  • Cybersecurity market set to exceed US$300 billion by 2024 

What GlobeX Data does:

GlobeX Data Ltd (CSE:SWIS) (OTCMKTS:SWISF) (WKN:A2PN34) is a cybersecurity and Internet privacy provider of Swiss-hosted solutions for secure communications and secure data management.

The company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. It sells its products through approved wholesalers and distributors, and telecommunications companies worldwide and also serves consumers, businesses and governments worldwide.

GlobeX Data's privacy solutions are all hosted in Switzerland, protecting users' data from any outside data intrusion requests. In Switzerland, the right to privacy is guaranteed in article 13 of the Swiss Federal Constitution. The Federal Act on Data Protection (FADP) of June 19, 1992, (in force since 1993) has set up strict protection of privacy by prohibiting virtually any processing of personal data which is not expressly authorized by the data subjects. The protection is subject to the authority of the Federal Data Protection and Information Commissioner.

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.

The company's Sekur software solution is a product designed for strategic use by key personnel in large organizations (C-Level and Board Members) and High Net Worth Individuals (HNWI) and geared for users sensitive to privacy and security. 

Sekur includes SekurMessenger as part of a bundle of email, messaging and file transfer into one app solutions, and includes the company’s latest SekurMail technology. It includes a proprietary anti-phishing and privacy feature called SekurSend which lets a user send an email to any other recipient, whether they have Sekur or not, in full privacy and security as the email never leaves Sekur‘s encrypted email servers based in Switzerland. The recipient can then click on the notification and reply in the same manner using SekurReply, without the recipient having to register for a Sekur account. The sender can also decide to protect any email sent by adding a password to open it, a read-limit and a self-destruct timer as well.

Additionally, SekurMail includes full control of email delivery, automatic data export for large Enterprises and an automatic Data Loss Prevention technology (DLP) with real-time continuous archiving. SekurMessenger, meanwhile, 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, eliminating a huge loophole in security and privacy. SekurPro offer svoice and video conferencing in addition to secure email and messaging.

The company is eyeing a global mass-market launch of its Sekur secure communications solution in April 2021, while the first launch, in the US, is on track to be completed before the end of March. 

GlobeX Data CEO Alain Ghiai has said the company is "targeting several million consumers and business executives globally, in search of a secure and private application for all their communications needs".

How is it doing:

GlobeX Data has made good progress in 2021, adding to its coffers and expanding its reach around the globe as the coronavirus (COVID-19) pandemic focuses companies on the need for greater cyber-security as more staff work from home.

On June 21, the company officially started the commercial launch of SekurMessenger in Latin America. In January, Globex had announced that it would be launching SekurMessenger, which offers encrypted instant messaging, secure voice recording transfer, and secure file transfer, with América Móvi's Telcel mobile operator in Mexico. 

GlobeX said the secure messaging service has been fully integrated with Telcel's billing and provisioning platform and the company has performed sales training to Telcel's corporate sales managers and is already receiving requests for the solution.  

The company said it expects to generate yearly gross sales of US$1.5 million per year by the end of 2022 for SekurMessenger, with an increase of 50% for 2023 in Mexico alone.  Sales in Colombia and Panama through cybersecurity distributor Micronet are planned to start no later than the first quarter of 2022, it added.

On the promotional front in the US, on July 28 GlobeX Data (CSE:SWIS, OTCQB:SWISF) announced the launch of over a hundred new billboards advertising its Sekur messaging platform throughout New York City’s transit system. The billboards – 156 in total – will be displayed in six New York City subway stations. The billboards will feature a 15-second commercial promoting Sekur, with its logo, website and GlobeX ticker symbol displayed prominently.

A few weeks earlier, Globex had announced the official launch of Sekur in the US with a television commercial to be broadcast on NTD. The technology company said that the 60-second commercial, which highlights Sekur’s features and security solutions, would be broadcast three times a day, seven days a week over a 12-month period. Founded in 2001, NTD is an over-the-air channel that broadcasts to over 50 million houses in most major centres in the US.

And on July 12, Globex announced that it was sponsoring 74 YouTube episodes of The Epoch Times, with hosts Roman Balmakov, Larry Elder and Joshua Philipp.  The sponsorship is part of a blended marketing budget of US$700,000 announced by the company in May. 

GlobeX said the sponsored ads will describe Sekur's attributes as the leading Swiss-hosted privacy and security communications application, such as encrypted email and secure messaging, without any data mining. The ads also will cite Sekur's unique proprietary feature called Chats-by-invites, letting a Sekur user message a non-Sekur user, without the recipient having to download Sekur.  

The company said it and The Epoch Times plan to start the first sponsored episode on July 12, 2021, continuing until December 22, 2021. GlobeX noted that The Epoch Times’ national print readership is over 1 million, and its theepochtimes.com website has 110 million monthly page views. Its network currently covers 21 languages and 33 countries.

Elsewhere in the world, in May Globex revealed that it had signed an agreement for a distribution deal in Sri Lanka with Dialog Broadband Networks (Private) Limited, part of Sri Lanka-based Dialog Axiata PLC, itself part of Malaysia-based telecom giant Axiata Group Berhad.

Dialog Axiata PLC, is one of Sri Lanka's largest telecommunications service providers, and the country's largest mobile network operator with 14.9 million subscribers which amounts to 57% of the Sri Lankan mobile market. Axiata Group Berhad (AXIATA) commonly known as Axiata, formerly known as TM International Berhad, is a publicly-traded Malaysian multinational telecommunications conglomerate with extensive operations in Asia and is one of the largest wireless carriers in Malaysia.

On the financing front, in May Globex raised nearly C$2.2 million to help market its Sekur messaging system in the US.  The placement, which consisted of nearly 7.3 million units priced at C$0.30 each, was upsized from its original C$2.1 million target.  Under the terms of the private placement, each unit consists of one share and one-half of one share purchase warrant exercisable $0.50 per share for a two-year term.

In January, Globex had announced the start of trading in its shares on the Frankfurt Stock Exchange. The company said it anticipated that the Frankfurt listing would help increase trading liquidity and facilitate investment in the company by institutional and retail investors across the European Union and Switzerland.

Inflection points:

  • Progress on US launch of Sekur services secure communications solution
  • Global mass-market launch of Sekur
  • Further deals with biotech and medical research companies

What the boss says:

In the company's statement on July 28, 2021, GlobeX CEO Alain Ghiai commented: 'We are thrilled and honored to have our brand Sekur displayed in over 150 electronic billboards in a city which is known by many as the center of finance, business, fashion and power in the world.

“This is a milestone for the company, for all the shareholders who supported us and continue supporting us, and for all the people who worked so hard throughout the years to come to this milestone. We thank our subscribers, and our investors, who are supporting us throughout the US national roll out as we continue to deliver the best in data privacy and security to all Americans.”

“As we move forward, and our brand becomes synonymous with data privacy over the coming months and years, we look forward to offer true data privacy and no data mining to all Americans,” Ghiai added.

Contact the author at jon.hopkins@proactiveinvestors.com

 

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