Plurilock Corporate Update for Shareholders

Core Insights - Plurilock Security Inc. is positioned for growth in the cybersecurity sector, focusing on expanding its service offerings and client base while enhancing operational efficiency [4][11][12]. Group 1: Corporate Developments - The company received a three-year contract worth US$814,000 to provide cloud security services to a major laboratory data and advisory firm [3]. - Plurilock has announced over US$20 million in new sales orders since the beginning of 2024, indicating strong demand for its services [11][12]. - The company has streamlined operations and integrated its four key acquisitions, achieving annual savings of US$2 million, which are being reinvested into higher-margin services [5][6]. Group 2: Strategic Focus - Plurilock's strategic plan emphasizes converting one-time engagements into recurring managed services, thereby enhancing client retention and profitability [6][28]. - The launch of the Critical Services division in February 2024 aims to address urgent cybersecurity challenges and improve organizational efficiency [13][14]. - The company is actively recruiting new sales staff to bolster its sales efforts, particularly in high-margin Critical Services and SaaS offerings [26]. Group 3: Financial Position - Plurilock completed a financing round that raised US$5.5 million, which will support the growth of its Critical Services division and expand its sales team [24][27]. - The company achieved revenue of US$70.4 million in 2023, reinforcing its status as a trusted cybersecurity provider in North America and NATO countries [23]. - Plurilock is focused on achieving breakeven and converting existing client relationships into long-term managed services contracts, which will generate stable revenue streams [28].