Nerds On Site Inc (CSE:NERD) (OTCQB:NOSUF) said Tuesday that it is advancing with its investment AdamNetworks, which has won patents in the US and Europe for its cybercrime-defeating AdamOne feature "Don't Talk To Strangers."
And in other company news, Nerds also said its founders have purchased 400,000 company shares while it has launched investor information pages on Facebook and LinkedIn.
Nerds said that AdamOne's "Don't Talk to Strangers" is a newly patented technology that prevents a computer or any connected device from having uncontrolled access to the internet – if a destination is unknown it is a "Stranger."
Rather than have an IT security approach that is playing a game of "whack a mole," trying to identify threats, this technology flips the approach to establishing an ecosystem of destinations that are approved and disallowing everything else.
"All cybercriminals are focused on getting into your network and taking stuff out, or encrypting and freezing your business, holding you to ransom," said Nerds CEO Charles Regan in a statement.
"Don't Talk to Strangers" prevents any information from leaving your network – it will appear as if all your systems are unplugged and inaccessible, turning cybercriminals away. This breakthrough solution is highly effective and scalable in deployment, which is critical in this 'new normal' where small and medium businesses currently have and will continue to have personnel working remotely from their homes."
Nerds said it has provided about C$1 million in the form of debt over the last four years to establish AdamNetworks. The company postponed interest payments as the technology was under development in exchange for 20% royalty payable to Nerds.
Nerds said AdamNetworks’ business has advanced to the point where it has begun debt repayments for the last year with interest of 8% annually, adding that its leadership is active in both the US and Canada in the effort to execute its aggressive growth strategy.
Nerds said AdamNetwork created a ZEROTRUST (AdamONE) internet traffic filtering application that once installed allows the client, even without any substantial IT knowledge, to take control of the traffic that comes in and out of their home, office or cross country enterprise.
AdamNetwork has recently begun offering a managed solution available to managed service providers and managed security service providers with a service level agreement to ensure high uptime along with the security offering. AdamONE is a critical element in the Nerds' endpoint security offering.
Insider investment in Nerds
Meanwhile, NOS Holdings Ltd, an entity owned by Nerds founders John Harbarenko, David Redekop and Charles Regan, has purchased 400,000 company shares.
In addition, the Toronto-based company has launched LinkedIn and Facebook Nerds on Site investor information pages.
"Our leadership and team has developed these forums in order to, one, ensure regular communication and updates for our investors through video clips from monthly video discussions with management, two, build a community where questions and concerns can be answered directly by management, providing a direct line of communication, and three, to create a dedicated location for investors and prospective investors to discuss issues with each other," Regan said.
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