Philadelphia, PA -- June 11, 2020 -- InvestorsHub NewsWire --
Pennexx Foods (PNNX) has
entered into a partnership agreement with Global Digital
Forensics (GDF) to develop cloud-based forensic tools. Digital
forensics is a multi-billion dollar industry which
is expected to grow to almost 10 billion annually by 2022 by market
estimations.
Typically, when digital forensics are required, the
client calls and various analysts are
deployed to perform groundwork tasks
like evidence collection, which can be expensive and time
consuming due to the manpower required. The digital
forensics industry has a glaring need for tools which can
be used by the client directly instead of having
to rely on analysts to perform the basic functions. This
reduces costs and speeds results.
These tools are desirable because it
frees analysts to focus their time on analyzing the
data instead of merely collecting it.
CEO of Pennexx, Vincent Risalvato and Joseph Caruso, CEO/CTO of
Global Digital Forensics, Inc., have been long time
business associates, having extensively collaborated on
cases for clients like BOSE, Motorola, IBM, Kodak
and many others. During that working
relationship, they developed
various proprietary tools to improve, expedite and
streamline the process based on the real-world situation and in
real-time. This agreement allows
those tools to be brought online using a cloud-based
dashboard.
IT, Administration and Legal will be able to log into
the dashboard to have instant access to the
results and be able to seamlessly collaborate. Online
review tools, email collection, OCR, virus detection, intrusion and
vulnerability scanning, image collection from desktops and mobile
devices and the importing of evidence from other
tools are just some examples proposed for the cloud-based
system, among many other possible applications.
Joseph Caruso said, “Putting efficient, powerful tools in
the hands of my customers has been a dream of mine for over a
decade. This will increase the amount of evidence we find, reduce
the costs to our customers and improve the results we obtain; it’s
a win-win-win.”
An added benefit of this cloud-based
system is the digital forensic evidence can be
widely shared among teams and
techniques like timeline analysis can be applied against
all data collected in an efficient manner. The legal
team will be able to flag and search the
evidence themselves and have the ability to
monitor the status of the case on a minute-to-minute
basis.
The partnership agreement between GDF and Pennexx includes
payment for development services and a revenue share. The cloud
servers will be based in a dedicated security environment
architected and checked by both GDF
and third-party vendors for security.
Vincent Risalvato says, “This is
an opportunity for Pennexx to widen its revenue streams
and provide tools that are dearly
needed by analysts worldwide.”
This agreement is arguably worth millions of dollars between
development costs and profit share.
About Global Digital Forensics
Global Digital Forensics was founded in 1992 and have been
helping clients win cases for 28 years. GDF's founder Joseph
Caruso, while working at Bell
Labs, performed pivotal work on the real-time terrain
tracking radar for the Tomahawk Missile Project, was a leader
in the newly emerging field of digital forensics and spent many
years educating, guiding and building the forensics
industry.
Today, GDF discreetly assists many prominent companies with all
aspects of cyber security, from breach response to threat
assessments, penetration testing and threat remediation. They
work with hundreds of law firms and attorneys on complex criminal
and civil cases, providing analysis, as well as expert
witness services. GDF is also on retainer as the leading
forensic responder for many private and public companies,
including Fortune 100s.
GDF has worked with clients in many highly
regulated industry sectors, including clients in finance and
banking, government agencies, defense industry manufacturers,
healthcare and insurance companies, hospitals — organizations in
all areas of business. Their staff provides expert, rapid
response all over the United States, Europe and
Asia.
You can see their website at https://evestigate.com.
About Pennexx Foods
Inc.
About Pennexx Foods Inc. (PNNX:
OTCMKTS US). Pennexx, through its wholly owned
subsidiaries, is a holding company within the
Software/Internet Industry focused on social media, prepaid debit
cards, BitGift™, artificial intelligence, targeted marketing
and consumer rewards.
Safe Harbor Act: This release may contain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company's annual
report.
For additional information, visit our website
at https://pennexx.net or call
866-928-6409. Please follow us on Twitter
@Pennexx.
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