Security Alert - FBI warns against replying to suspicious texts on smartphones [1]

Cybersecurity Risks - EG4, a Texas solar company, has become a focal point for home energy cybersecurity concerns [1] - Federal officials issued an advisory regarding the potential for hackers to hijack EG4's inverters [1]

RT Jake Bleiberg (@JZBleiberg)ICYMI: Russian Hackers Lurked in US Courts for Years, Took Sealed FilesW/@jamietarabayhttps://t.co/nW4kkYyNtr ...

Yinon Costica is the co-founder and VP of product at Wiz, which sold to Google for $32 billion in cash. Costica joins Big Technology Podcast to discuss the extent of the cybersecurity threats that generative AI is creating, from vulnerabilities in AI software to the risks involved in “vibe coding.” Tune in to hear how attackers are using AI, why defenders face new asymmetries, and what guardrails organizations need now. We also cover Google’s $32 billion acquisition of Wiz, the DeepSeek controversy, post-qu ...

Company Overview - Fortinet is a global leader in cybersecurity, focusing on the convergence of networking and security [3] - The company offers an extensive portfolio of over 50 enterprise-grade cybersecurity products [3] - Fortinet has over half a million customers, making its solutions among the most deployed and validated in the industry [3] Upcoming Event - Ken Xie, Founder, Chairman, and CEO, along with Christiane Ohlgart, CFO, will participate in a virtual fireside chat hosted by Goldman Sachs on August 25, 2025 [1] - The event will be accessible via a live webcast on Fortinet's Investor Relations page [2] Commitment to Cybersecurity - Fortinet's mission is to secure people, devices, and data globally [3] - The company collaborates with various organizations, including government entities and academia, to enhance global cyber resilience [3] - FortiGuard Labs, Fortinet's threat intelligence organization, utilizes advanced machine learning and AI technologies for threat protection [3]

Core Insights - VCI Global Limited has secured multiple enterprise commitments and government-level proof-of-concept projects following its participation in the ASEAN AI Summit 2025, marking a significant milestone in its regional expansion strategy [1][2] - The company showcased its sovereign-grade encryption and AI infrastructure technologies, which received strong engagement from ASEAN country delegations, government agencies, and enterprise leaders [2][5] - The global post-quantum and quantum-security market is projected to reach approximately US$4.62 billion by 2030, with a CAGR of 38.3%, while the Asia-Pacific cybersecurity market is forecast to reach US$146 billion by 2030, growing at a CAGR of 15.9% [3][4] Company Developments - VCI Global is strategically positioned to capture significant opportunities in ASEAN's digital sovereignty and cybersecurity landscape by aligning its technologies with high-growth market trajectories [4] - The company has multiple signed enterprise agreements for its CyberSecure Vault and related solutions, along with ongoing discussions with national AI and data sovereignty task forces in the region [8] - The company aims to empower governments, enterprises, and institutions in Southeast Asia to scale securely and independently, with a focus on its sovereign AI data platform fortified by military-grade encryption [7]

THE $48M BTCTURK HACK: WHAT WE KNOW- BtcTurk, one of Turkey’s largest crypto exchanges, has been hit by a $48M theft targeting its hot wallets, per blockchain security firm Cyvers.- The breach, detected on Aug. 14, forced the exchange to halt all crypto deposits and withdrawals. Trading and Turkish Lira transactions continue.- Blockchain security firm Cyvers says the attacker moved funds across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon.- Most assets landed in two addresses, where th ...

Cybersecurity Threat - Russian government hackers infiltrated US court record systems [1] - Hackers stole sensitive documents that were supposed to be sealed from the public [1] Data Breach - The breach persisted for years [1]

Cybersecurity Threat - Norway's spy chief attributes the hijacking of a dam to Russian hackers [1] International Relations - The incident implicates Russia in potential cyber espionage and infrastructure disruption activities [1]

Financial Data and Key Metrics Changes - Total sales for Q2 2025 were $5.1 million, an increase of approximately $236,000 or 4.8% compared to Q2 2024, driven by growth in subscription-based services [6][8] - Total sales for the first half of 2025 were $13.2 million, an increase of approximately $84,000 or 0.6% compared to the first half of 2024, with a significant shift in revenue mix [8][12] - Net loss attributable to common shareholders for Q2 2025 was $733,000 compared to a net loss of $244,000 for Q2 2024 [12] - Cash, cash equivalents, and marketable securities at the end of Q2 2025 were approximately $11.1 million, down from $12.3 million at the end of Q2 2024 [13] Business Line Data and Key Metrics Changes - Cloud infrastructure and disaster recovery revenue increased by approximately $193,000 or 6.1% in Q2 2025 due to new subscription clients and expanded services [6] - Nexus services saw an increase of approximately $48,000 or 17.3% [7] - Equipment and software sales decreased by approximately $95,000 or 12.1% due to non-recurring sales in the prior year [7] Market Data and Key Metrics Changes - The company reported a significant shift in revenue mix, with a $600,000 or 9.8% increase in core cloud infrastructure and disaster recovery services for the first half of 2025 [8] - The company is seeing a three-to-one ratio of ads to existing customers, indicating strong lead generation and customer acquisition [30] Company Strategy and Development Direction - The proposed sale of Cloud First Technologies is a key strategic move, with a potential net amount of $24 million to be returned to shareholders and reinvested in growth [15][16] - The company plans to allocate 15% of cash for acquisitions, innovation, and expansion, regardless of the sale outcome [17][21] - A full rebranding of the company is underway to reflect its new direction, focusing on high-growth markets such as AI and cybersecurity [20][21] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of unlocking hidden value through the sale of Cloud First, which has been a cash-generating business [40] - The company is committed to pursuing growth opportunities in AI and other verticals, regardless of the sale outcome [22][24] - Management expressed confidence in the company's ability to transform and adapt to market changes, focusing on delivering shareholder value [49][50] Other Important Information - The proposed transaction is subject to shareholder approval at the annual meeting on September 10, 2025 [22] - The company is exploring strategic partnerships and technology extensions to support its growth agenda [18][19] Q&A Session Summary Question: What will your cash position be roughly following the transaction? - Management indicated that post-transaction cash could be approximately $35 million, including $24 million from the sale and $11 million in cash [27] Question: How is the visibility into the cloud pipeline for the balance of the year? - Management noted a consistent pipeline of around $10 million in opportunities, with a strong ratio of new customer acquisitions [30] Question: Any update on the growth opportunity in Europe? - Management reported that operations in Europe are progressing well, with partnerships established and a growing sales team to support expansion [32][34] Question: What is the rationale behind selling Cloud First, given it represents about 95% of revenue? - Management explained that the sale aims to unlock value that is not being recognized in the public market, allowing for better capital allocation [40][41] Question: What will the company's operations look like post-divestiture? - Post-sale, the company will focus on AI and other growth areas, with a leaner operational structure and plans for strategic investments [43][44]