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

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. Also in June, Globex announced plans to launch a 60-second commercial spot focused on its Sekur privacy-focused messaging solution that will be broadcast to more than 50 million US households on the NTD (New Tang Dynasty) television network. NTD began its TV broadcasts in the US on Verizon/Frontier FiOS channel 158 in July 2020, the company said, and has since become a nationwide over-the-air network, with cable distribution in New York, Washington DC, Philadelphia, Boston, Los Angeles and Chicago.  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: Announcing the commercial launch of SekurMessenger with América Móvi's Telcel in Mexico in June 2021, Globex CEO Alain Ghian said: “There is a growing demand to replace WhatsApp as a business messaging solution in Mexico, and in the world in general, and SekurMessenger is here to satisfy that demand." “We are also excited to expand to other countries of Central and Latin America in the coming years, as we plan to launch with other partners in the region as well. With security and privacy becoming a global concern, and the new WhatsApp rules to share all users' data with Facebook, we have seen a surge in demand and inquiries for our secure and private communications solutions," he added. Contact the author at jon.hopkins@proactiveinvestors.com