Cipherloc Appoints David Chasteen as CEO
Cipherloc Corporation (OTCQB:CLOK) has appointed David Chasteen as its new Chief Executive Officer, effective immediately. Chasteen, who has been an independent director since 2019, brings extensive experience from information security and military sectors. He aims to steer the company towards bringing its innovative encryption technologies to market while focusing on revenue generation. The company has made operational cost reductions in 2020 and has strengthened relationships with key partners. Chasteen's diverse background includes roles in various military and intelligence positions, enhancing his leadership capabilities.
- David Chasteen's appointment could bring fresh perspectives and leadership to Cipherloc.
- Chasteen's extensive experience in information security may strengthen Cipherloc's market position.
- Operational cost reductions may indicate previous financial challenges.
AUSTIN, TX / ACCESSWIRE / October 27, 2020 / Cipherloc Corporation (OTCQB:CLOK) ("CipherLoc"), a developer of advanced encryption technology, announced the appointment of David Chasteen as Chief Executive Officer. Chasteen has served as an independent director of Cipherloc since 2019 and brings direct leadership experience in the information security, military and intelligence communities to the Company.
"I look forward to this next phase for Cipherloc as we focus on bringing our innovative technologies to market," said Chasteen. "We have taken the difficult steps needed to refocus the business and reduce our operating costs during 2020. However, we have also continued to advance our relationships and product platforms with key partners who can progress our platform into revenue generating applications."
"We are pleased to welcome David's leadership in our management team," said Tom Wilkinson, Chairman of the Board. "He knows the industry and the channels for both commercial and government applications of Cipherloc's technology, making him an ideal leader for Cipherloc's continued evolution as we drive to revenue."
Chasteen is also Chief Information Security Officer (CISO) at GoFundMe. He was previously the Chief Information Security Officer for the San Francisco Police Department and the President of the San Francisco Veterans Affairs Commission. His background includes serving as a Captain with the Third Infantry Division of the United States Army, working as a Financial Advisor at Merrill Lynch and UBS, and as a Chief Technology Officer at L-3 MPRI. Additionally, he served on the Iraq and Afghanistan Veterans of America (IAVA) board of advisors before joining the National Clandestine Service and serving as the Executive Officer of the CIA's Covert Action Staff. He has also worked as the Threat Intelligence Officer for the City and County of San Francisco. David earned a BS in Political Science at Ball State University's Honors College.
About Cipherloc Corporation (OTCQB: CLOK)
Cipherloc Corporation provides advanced technology and expertise to secure your data and safeguard your privacy with the speed you need today and the agility you'll need tomorrow. Our patented Polymorphic Encryption technology provides a layer of security that is stronger, adaptable, and scalable across a variety of applications and systems. Learn more at www.quantanova.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set forth in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Contact:
Matt Kreps
Darrow Associates Investor Relations
214-597-8200
mkreps@darrowir.com
SOURCE: Cipherloc Corporation
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