NERDS 'AdamNetworks' Investment Receives USA and European Patents for "Don't Talk to Strangers" Cybercrime Defeating Technology
Nerds also announces share purchases by founders, Facebook and LinkedIn Investor pages
TORONTO, June 9, 2020 /CNW/ - Nerds On Site Inc. ("NERDS" or the "Company") (CSE: NERD) (FSE: 3NS.F) (QTCQB: NOSUF), a mobile IT solutions company servicing the SME marketplace in Canada and the USA, is providing an update on the Company's advances with its investment in AdamNetworks, share purchase by its founders and launch of investor info pages on Facebook and LinkedIn.
AdamNetworks, a NERDS investment and related company, has been granted patents in the USA and Europe for its cybercrime defeating AdamOne feature "Don't Talk To Strangers."
The patent has been granted for a "METHOD AND ROUTER TO PERMIT OR BLOCK INTERNET PROTOCOL (IP) CONNECTIVITY BASED ON ORIGINATING DOMAIN NAME SERVER (DNS) REQUESTS." The European patent office has granted "Don't Talk to Strangers" with patent #3270573. USA patent filing has been granted with issue notification that patent #10686753 is to be issued on 16 June 2020.
AdamOne's "Don't Talk to Strangers" is a newly patented technology that prevents a computer or any connected device from having uncontrolled access to the internet – if a destination is unknown it is a "Stranger." Rather than have an IT security approach that is playing a game of "whack a mole," trying to identify threats, this technology flips the approach to establishing an ecosystem of destinations that are approved and disallowing everything else.
"All cybercriminals are focused on getting into your network and taking stuff out, or encrypting and freezing your business, holding you to ransom," said Mr. Charles Regan, Nerds CEO. "Don't Talk to Strangers" prevents any information from leaving your network – it will appear as if all your systems are unplugged and inaccessible, turning cybercriminals away. This breakthrough solution is highly effective and scalable in deployment, which is critical in this 'new normal' where small and medium businesses currently have and will continue to have personnel working remotely from their homes."
NERDS provided $1 million CAD (approx.), in the form of debt over the last 4 years to establish AdamNetworks. The Company postponed interest payments as the technology was under development in exchange for 20% royalty payable to NERDS. ADAMnet's business has advanced to the point where it has begun debt repayments for the last year with interest of 8.0% annually. ADAMnet leadership is active in both the USA and Canada in the effort to execute its aggressive growth strategy.
About Adam Networks:
ADAMnet created a ZEROTRUST (AdamONE) internet traffic filtering application, that once installed allows the client, even without any substantial IT knowledge to take control of the traffic that comes in and out of the home, small / medium office or cross country enterprise. ADAMnet has recently begun offering a managed solution available to managed service providers (MSPs) and managed security service providers (MSSPs) with a service level agreement (SLA) to ensure high uptime along with the security offering. Team members now include PhD level system engineers, cloud architects, support, sales & marketing teams. AdamONE is a critical element in the Nerds On Site endpoint security offering to its' Clients.
In addition, NOS Holdings Ltd. an entity owned by the founders of Nerds On Site Inc. - John Harbarenko, David Redekop and Charles Regan – announces that it has purchased 400,000 shares of Nerds on Site stock on June 2nd. This share purchase by insiders of the Company is in addition to 59,250 shares on 26 May 2020 purchased by CEO Charles Regan directly, bringing total shares purchased by Mr. Regan since the IPO to 656,652.
The Company announces that it has launched LinkedIn and Facebook Nerds on Site investor information pages. The LinkedIn page can be found at the following link: (https://www.linkedin.com/groups/13836023/); and the FaceBook page can be found at: (https://www.facebook.com/groups/539089040298462/).
"Our leadership and team has developed these forums in order to, one, ensure regular communication and updates for our investors through video clips from monthly video discussions with management, two, build a community where questions and concerns can be answered directly by management, providing a direct line of communication, and three, to create a dedicated location for investors and prospective investors to discuss issues with each other," said Mr. Charles Regan, Nerds on Site CEO.
The Company is updating its current NerdMobile inventory in the USA as it has sold 27 of 36 vehicles previously leased and applied the savings to purchase the 9 remaining vehicles, which are now fully owned without any lease liability.
About Nerds On Site:
Nerds On Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds On Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub-contracts in Canada and a Franchise model for USA expansion.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements - Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE Nerds On Site Inc.
Mr. Charles Regan, CEO of Nerds On Site, Please visit www.investors.nerdsonsite.com, Call 1-877-778-2335, or email [email protected]
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