Visium Technologies, Inc. Issues Letter to Shareholders

Rhea-AI Summary

Visium Technologies (OTC PINK:VISM) recently published a letter to shareholders from CEO Mark Lucky, highlighting the company's strategic direction and growth opportunities in 2023. The firm is shifting its market focus towards Africa and the Caribbean, establishing its African Business Development Advisory Board to drive digital transformation initiatives. Collaborations have been initiated in countries like Burkina Faso and Malawi, aiming to deploy its TruContext platform for cybersecurity solutions.

In the Caribbean, partnerships are forming with local firms to enhance the platform's presence, particularly in the Bahamas and Trinidad & Tobago. Visium is also enhancing its platform capabilities through integration with Natural-Language Processing technologies. The company anticipates significant contract closures in both domestic and international markets, positioning itself for a robust future.

Positive

• Shifted sales strategy to target growth in Africa and the Caribbean.
• Established an African Business Development Advisory Board to facilitate market entry.
• Partnership with IREX.AI for ethical video surveillance technology expected to yield contracts by June.
• Technical collaborations aimed at enhancing TruContext capabilities, including Natural-Language Processing integration.

Negative

• None.

FAIRFAX, VA / ACCESSWIRE / April 24, 2023 / Visium Technologies, Inc., ("Visium" or the "Company") (OTC PINK:VISM), a global cybersecurity and analytics company, released a letter to shareholders today from its Chief Executive Officer, Mark Lucky.

To our Valued Shareholders:

I would like to thank all of you for your tremendous patience and support, as we look towards a very bright future in 2023 and beyond. The leadership team is always striving to communicate important corporate events and activities and a key part of our engagement efforts is to provide as much transparency as we can to shareholders. We welcome this opportunity to share our insights about the past year, our recent corporate developments, and our plans going forward. Our goal continues to be establishing Visium as a leading innovative cybersecurity and data analytics visualization Company.

In recent months, we have changed our go-to-market sales strategy to focus on opportunities in the global marketplace, particularly Africa and the Caribbean.

AFRICA

We made our first foray into Africa about a year ago, not fully appreciating at the time that we were entering a period the beginning of a period of tremendous investment and focus on the digital transformation for many of the countries on that continent. Through those efforts we have established key business relationships with an impressive group of people dedicated to the acceleration of the development and digital transformation of Africa. Digital security is a key to this effort.

In January of this year, we formed the African Business Development Advisory Board ("ABDAB"), comprised of highly respected career diplomats and technologists, all of whom have the experience, relationships, and knowledge to forge business opportunities in many countries in Africa and beyond with the focus of creating a reliable and secure digital ecosystem.

We recently attended the Africa Fintech Summit in Washington, DC. During this conference we solidified several partnership relationships, and opportunities to sell our proprietary TruContext^TM platform in Africa in countries challenged by their security concerns in their ports of entry.

From left to right: Bizu Admassu, Mark Lucky, Dr. Gloria Herndon, Dr. Lassina Zerbo, Jeannine B. Scott, Ambassador Joseph Huggins

In January, we partnered with the Innovation Science & Security Center ("ISS Center"), led by Dr. Lassina Zerbo, in Burkina Faso. Through this partnership, we are positioned to win business in up to twelve (12) West African countries.

We have signed a Memorandum of Understanding ("MOU"), and are now in detailed technical discussions with the Republic of Malawi. We anticipate this leading to the deployment of TruContext^TM to this southern African country for several use cases, including cybersecurity.

The Caribbean

Although the ABDAB is focused on opportunities in Africa, we have been introduced to exciting and immediate opportunities in the Caribbean, focused particularly on the Republic of the Bahamas, and on the Republic of Trinidad & Tobago.

We recently partnered with Bahamas Mobile Services, Ltd to market and sell Visium's TruContext^TM data analytics platform in the Bahamas and Turks and Caicos.

We have partnered with We Source It 4 U, Ltd, a leading technology company based in Port of Spain, Trinidad and Tobago to market and sell TruContext^TM in Trinidad and Tobago and Latin America.

These partnerships have generated several exciting opportunities that we anticipate closing in the coming weeks. We have been introduced to influential decision-makers in two additional countries, but at this point it would be premature to disclose those activities.

TRUCONTEXT^TM PLATFORM NOTABLE UPDATES

We are continuing to optimize and make updates to our platform. We have development efforts underway to further refine the user interface (UI) with the goal of enhancing the user experience by providing more flexibility and intuitiveness to our solution.

Additionally, our near-term roadmap includes plug-in level integration with Natural-Language Processing ("NLP") models (GBT4) to deliver advanced capabilities for construction of datasets, real-time filtering and pinpointing of asset relationships. Coupling this capability with our patent pending data overlay and compositing technology, will yield industry leading speed for delivering actionable context-infused results to analysts.

IREX

We cannot overlook our partnership with IREX.AI, the leading ethical AI-based video surveillance company. IREX is currently marketing and selling our joint technology called ELI ("Ethical Layered Intelligence") to companies in the US, as well as in South America and Latin America. We believe these first opportunities will close as early as June of this year.

U.S. Opportunities

In addition to these exciting opportunities overseas, we are actively engaged in opportunities to integrate our technology with a smart-cities company with a national footprint, and we also have a number of opportunities with federal, state, and local agencies. We continue to pursue opportunities with our technology partners, which include Splunk (SPLK), Tenable (TENB), Nutanix (NTNX), and Datadog (DDOG).

In conclusion, our technology and our team are world-class, and although it has taken some time to find our market and foster the partnerships necessary to close these pending contracts, our Company has never been in a stronger position, and we look forward to a bright future as we continue to actively demonstrate our technology to the decision-makers in government and the commercial sector. We look forward to providing another update in the near future.

About Visium Technologies, Inc.
Visium Technologies (OTC PINK:VISM) is a cyber security solutions provider that uses graph database technology to deliver an analytics-driven, risk-based approach to cybersecurity that provides context to data so that users can make intelligent decisions in real time. Built for the US Army Cyber Command by MITRE Corporation (CyGraph), and then further developed by Visium, our world class TruContext^TM technology provides visualization, advanced cyber monitoring intelligence, data modeling, analytics, and automation to help reduce risk, simplify cyber security, and deliver better security outcomes. TruContext^TM plugs the gaps left by other security tools.

For more information please visit www.visiumtechnologies.com and our YouTube Channel.

Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect management's current views with respect to future events and performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe," "expect," "anticipate," "intend," "estimate," "project" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to, whether the reverse stock split will be beneficial to the Company and its shareholders, any inability to meet the NYSE American continued listing standards in the future for any reason, and those other factors described in our filings with the U.S. Securities and Exchange Commission. Any responsibility to update forward-looking statements is expressly disclaimed.

CONTACT:

Visium Technologies, Inc.
Corporate: Mark Lucky, Chief Executive Officer
mlucky@visiumtechnologies.com

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Corporate Office:
4094 Majestic Lane Suite 360
Fairfax, VA 22033
Phone: 703-273-0383

SOURCE: Visium Technologies, Inc.

View source version on accesswire.com:
https://www.accesswire.com/750790/Visium-Technologies-Inc-Issues-Letter-to-Shareholders

FAQ

What are the key initiatives announced by Visium Technologies in April 2023?

Visium Technologies is focusing on expanding its market presence in Africa and the Caribbean, partnering with local firms, and enhancing its TruContext platform.

What markets is Visium targeting for growth?

Visium is targeting opportunities in Africa, particularly through recent partnerships, and in the Caribbean, including the Bahamas and Trinidad & Tobago.

What updates were provided regarding Visium's TruContext platform?

The company is optimizing TruContext for better user experience and integrating Natural-Language Processing capabilities for enhanced analysis.

What is the anticipated timeline for new contracts for Visium Technologies?

Visium expects to close significant contracts in the U.S., Africa, and the Caribbean, with initial opportunities expected to close as early as June 2023.