Paranotek Announces Global Restructuring to Focus on Parano
Embedded Chat App and International Investment
Los Angeles, CA -- November 07, 2017 -- InvestorsHub
NewsWire -- Paranotek, a wholly owned subsidiary of WorldFlix, Inc.
(OTC:WRFX), today announced plans to
release its encrypted chat demonstration app and B2B business
strategy.
Paranotek is an international, end-to-end encryption software
company that has developed ‘Parano’, a post-quantum, cryptographic
protocol, designed to resist sophisticated security hacks both
currently in use and expected in the near future from advances in
super and quantum computers. The company’s latest security software
solutions will allow governments and corporations across multiple
industries such as healthcare and finance keep their employees and
data safe while also monitoring and analyzing potential breaches
and productivity with real-time, centralized reporting.
International cybersecurity expert Mick Davis recently joined
Paranotek as CEO. Mr. Davis has a background in world-class
commercial and military information services and security
innovations, returning to part-time military service with the
department of defense and intelligence community after 9-11. Mr.
Davis’ career experience includes a senior role supporting the
decommissioning of the Joint Task Force Global Network
Operations (JTF-GNO) and standing up
the United States Cyber Command
(USCYBERCOM). In addition
to accelerating plans to release the company’s encrypted
collaboration chat app and focus on B2B solution sales, Davis today
announced plans to restructure Paranotek in order to accommodate
superior investment as well as attract top level developers and
management.
The global encryption software market is expected to grow from
USD 3.87 Billion in 2017 to USD 12.96 Billion by 2022, at a
Compound Annual Growth Rate (CAGR) of 27.4%. The demand for
encryption software tools is driven by stringent government
regulations and the need to protect critical information. In
February 2016, the National Institute for Standards and Technology
(NIST) called for proposal submissions for quantum-resistant cryptographic
algorithms for new public-key crypto standards.
“Lauri Tunnela and his Finland based ‘Paranotek Team’ has built a solid foundation to
serve the Global Encryption Software Market with its post-quantum
cryptology flagship product ‘Parano’. Now we want to position the
company correctly to achieve our next milestones – increased
corporate sales, improved investment opportunities, adherence to
international regulatory requirements and recruitment of the top
minds in the industry,” stated Mick Davis, CEO of Paranotek. “We
are currently restructuring the company to meet these growth
objectives. We will accelerate the delivery of our Parano embedded
chat app, focus on partnering with major service providers in the
US and Europe and build out our delivery footprint for cloud based
encryption services. We will also continue to support Swantry, the
family oriented privacy app that uses
Parano.”
“While expanding our business, we will keep a focus on
international regulatory requirements to minimize our burden when
it comes to exposure to dual-use item regulation and export
controls. We will also structure the company to attract both
international early stage investment as well as traditional
institutional investment. This new structure will also enable us to
recruit talented cryptologists and management as we can offer them
a stake in our future success,” concluded Davis.
Brad Listermann, Chairman and CEO of WorldFlix, Paranotek’s
parent company, added, “I have been working closely with Mick and
am quite excited about the roadmap he has developed for Paranotek.
I am confident in Mick’s vision and leadership and look forward to
updating our shareholders on the company’s progress thru the end of
this year and into the next.”
About WorldFlix, Inc. (www.worldflix.co)
WorldFlix, Inc. (OTC PINK:WRFX) operates in a variety of niche
businesses in the technology and entertainment sphere. WorldFlix
divisions include AppFarm, a platform for acquiring, developing,
and growing niche apps for mobile and tablet devices; Drobbits, an
interactive platform that allows users to create, play and monetize
their own video games; Paranotek, a Finnish technology and design
company that incorporates its military-grade, proprietary security
and privacy features when developing software and apps; Swantry,
designed to allow parents to ensure their child is safe on their
mobile device; and WorldFlix Entertainment Management, a television
and movie development and management business. For more information
on WorldFlix, Inc., please visit www.worldflix.co.
About Paranotek (www.paranotek.com)
Paranotek is a partnership between WorldFlix, Inc., and
Finnish-based technology and encryption experts. Lauri Tunnela,
CTO, and Johannes Maliranta, CCO, have a combined 20 years of
diverse and complimentary information technology experience.
Tunnela's thesis on information security vulnerabilities has been
featured in major Finnish technology magazines. Paranotek's
products range from data storage, sharing and instant messaging
services to various software suites, all based on our disruptive
security technology. While other popular apps, software and
services collect your data, Paranotek's unique security technology
never collects user data, thus providing an extra layer of enhanced
privacy for our users. For more information on Paranotek, please
visit www.paranotek.com.
FORWARD-LOOKING STATEMENTS: "Safe Harbor" statement under the
Private Securities Litigation Reform Act of 1995: This press
release contains forward-looking statements within the meaning of
the Securities Litigation Reform Act of 1995. These statements are
based on current expectations, and are to a certain degree
uncertain. Words such as expects, anticipates, intends, believe,
plan, will and similar words are expressions intended to identify
these forward-looking statements. These statements involve risk and
subsequently are difficult to evaluate. Actual results may vary
from descriptions herein due to many factors including but not
limited to changes in business conditions, changes in laws and
regulations, problems encountered in exploration and obtaining
permits, changes in the competitive environment, technological
advances, shortages of skilled workers, the need for additional
capital and other risks listed in the company's Securities and
Exchange Commission filings under "risk factors" and elsewhere.
Forward-looking statements speak only as of the date they were
made, and the company is under no obligation to update them.
For more information, please visit: www.worldflix.co, www.paranotek.com, www.swantry.com.
CONTACT INFORMATION
WorldFlix, Inc. (OTC:WRFX)
Brad Listermann
Chairman and CEO
(310) 684-2462 / brad@worldflix.co