Cipherloc Appoints Heltzel Vice President of Business Development

Rhea-AI Summary

Cipherloc Corporation (OTCQB:CLOK) announced the appointment of John Heltzel as Vice President of Business Development. Heltzel, an experienced leader in the encryption sector, is expected to accelerate the market adoption of Cipherloc's quantum-resistant encryption technology. CEO David Chasteen highlighted the company’s commitment to achieving positive cash flow from operations. Cipherloc's advanced technology includes products like Cipherloc Sentinel, Cipherloc Armor, and Cipherloc Shield, designed for various security applications.

Positive

• Appointment of John Heltzel as VP of Business Development, bringing extensive encryption sector experience.
• Heltzel's track record in sales and partnership success positions Cipherloc for enhanced market adoption.
• Cipherloc's technology supports commercial applications through three distinct products, expanding market reach.

Negative

• None.

AUSTIN, TX / ACCESSWIRE / July 23, 2021 / Cipherloc Corporation (OTCQB:CLOK) ("Cipherloc"), a developer of advanced encryption technology, today announced the appointment of John Heltzel as Vice President of Business Development.

"John is a proven business development leader with extensive experience in the encryption sector and has had success ramping early stage technologies to broad commercial adoption. He brings an excellent track record of sales and partnership success to Cipherloc as we take our quantum-resistant encryption engine to market," said David Chasteen, CEO. "We are advancing our existing partnerships to the acceptance phase across each major operating platform. We remain committed to achieving positive cash flow from operations with our available resources and look forward to John swiftly contributing to these efforts."

Heltzel is an operating executive with a track record in developing people, new businesses, markets, and executing corporate development strategies to achieve revenue and cashflow targets. He currently advises early-stage startups on building and executing sales, business development and product strategies. He previously served as Vice President of Business Development at NearbyNow, Director of Business Development at security and encryption leaders Zix Corporation and Entrust, Inc., and served in sales and product management roles at SkyTel Communications, Qualix Group and Silicon Graphics.

"I am very excited about leading the business development efforts at Cipherloc," said Heltzel. "David and team have built a world-class platform ready for CISO's and cybersecurity professionals to deploy into their existing networks and infrastructures. This is precisely the vision, team and time to lead the industry into quantum computing encryption, securing global networks worldwide for generations to come."

Since 2020, Cipherloc developed commercial applications of its technology by advancing a Software Development Kit ("SDK") for its Polymorphic Encryption Core. By doing so, potential customers can integrate and configure the PEC using the SDK. Cipherloc's technology now supports commercial application through three distinct products.

• For data-in-motion applications, Cipherloc Sentinel allows a customer to build a post-quantum encryption solution into their product environment.
• Cipherloc Armor employs the sentinel solution in a hardware appliance that can be deployed in front of any IT system and encrypts the traffic between paired Armor devices with little setup needed.
• Cipherloc Shield addresses data-at-rest needs, securely encrypting data, using the PEC, that is placed on a hard drive or in a database for long term storage.

About Cipherloc Corporation (OTCQB:CLOK)

Cipherloc Corporation provides advanced technology and expertise to secure your data 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.cipherloc.net.

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

View source version on accesswire.com:
https://www.accesswire.com/656753/Cipherloc-Appoints-Heltzel-Vice-President-of-Business-Development

FAQ

Who is John Heltzel and what is his role at Cipherloc Corporation?

John Heltzel has been appointed as Vice President of Business Development at Cipherloc Corporation, bringing extensive experience in the encryption sector to drive market adoption of their quantum-resistant encryption technology.

What technologies does Cipherloc Corporation offer?

Cipherloc Corporation offers several technologies, including Cipherloc Sentinel for data-in-motion, Cipherloc Armor for hardware encryption, and Cipherloc Shield for data-at-rest encryption.

What is the stock symbol for Cipherloc Corporation?

The stock symbol for Cipherloc Corporation is CLOK, and it trades on the OTCQB market.

What are the expected impacts of Heltzel's appointment on Cipherloc?

Heltzel's appointment is expected to enhance business development efforts and accelerate the adoption of Cipherloc's encryption technology in the market.