Goldman Sachs Report on Foreign Exposed Techs Beneficial for GlobeX Data
August 17, 2020 in Company news
TORONTO, ON / ACCESSWIRE / July 29, 2020 / GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) (“GlobeX” or the “Company”), the leader in Swiss hosted cyber security and Internet privacy solutions for secure data management and secure communications, is pleased to announce that a report issued by Goldman Sachs Group Inc. (GS) advised that Investors should consider U.S. technology stocks with high International exposures. The report has been published on Bloomberg.com on July 26 2020 and can be seen by clicking this link Bloomberg.com Goldman Sachs Group report. The report validates GlobeX’s strategy to develop its channel distribution in over 20 countries spanning all continents of the globe.
In the last twelve months, GlobeX Data has signed distribution agreements in over 20 countries located in North America, Central America, The Caribbean, South America, South and South East Asia, Australasia, Europe, the Middle East and Africa. In Central and Latin America alone, the Company has agreements in place to sell its solutions in 11 countries. In the Middle East, the Company is engaged in distribution in most of the G.C.C. countries and is planning to sign more agreements in the next coming weeks and months, in order to cover the entire Arab Gulf region and several countries in Africa. In Canada, where GlobeX has its headquarters in Toronto, the Company is preparing a campaign with its distributor Darn IT Group once the launch of GlobeX’s latest secure communications application Sekur is official.
Additional to its global footprint of distribution, GlobeX Data has offices in Mexico, Singapore, Sri Lanka and Switzerland, and is planning to open a representative office in India later this year. The Company’s Mexico office handles all of Central and Latin America’s business. Its main offices are in Toronto, Canada and its subsidiary’s office are in New York, USA.
Alain Ghiai, CEO of GlobeX Data said: “We have spent the last 12 months building our International network of distributors and are expecting to see the first revenues by Q4 2020. COVID-19 has delayed the completion of sales in the Emerging Markets by about nine months, however, we are seeing some rapid increases in activity in South Asia with other regions showing signs of early business activity. We expect to ramp sales by Q4 2020 and go in full force mode in 2021. Most of the Emerging Markets are just re-opening their economies and all are embracing WFH mode so this is going to be a very good boost for our remote work security solutions. Based to what we hear from our distributors, we expect that recurring sales from the Emerging Markets alone would exceed USD 1,000,000 in 2021 (based on approx. 12,500 subscribers paying USD 80/year/user) resulting in a company wide net profit of USD 700,000 for the year based on our expected company wide expenses for 2021 of USD 300,000. Sales for 2022 are expected to double the previous year with Company expenses maintained at around USD 500,000 for all of 2022. Our strategy was to spread our geographic risk in all five continents spanning over 20 countries. This permits GlobeX to have a variety of economies contributing to its sales and bottom line. Cybersecurity is a global phenomenon and we want to be present globally in order to help businesses worldwide fight cyber crime and protect their data.”
In addition to International sales, GlobeX is planning to launch its Sekur encrypted email and messaging solution to millions of business users in the USA through direct email campaign and social media in September of this year. It is also preparing a campaign to launch a channel distribution program in the USA and Canada as well.
GlobeX’s Data 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 19 June 1992 (in force since 1993) has set up a 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.
About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure data management and secure communications. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.
On behalf of Management
GLOBEX DATA LTD.
President and Chief Executive Officer
Forward Looking Information
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guaranteeing future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX’s control. Such factors include, among other things: risks and uncertainties relating to the future of the Company’s business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company’s ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX’s prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: GlobeX Data Ltd.