Cipherpoint Limited (Cipherpoint or the Company) (ASX: CPT) is pleased to provide the following
quarterly activities report and business update and Appendix 4C.
Quarter Financial Highlights
Financial highlights for the quarter were:
- Operating cash costs for the September 2020 quarter were $609K (compared to $629K for the June 2020 quarter).
- The Company successfully raised:
- $500K by way of Share Purchase Plan (SPP), which was settled in early July
- $437K which was placed to sophisticated investors at the beginning of July
- $1.46M by way of rights issue which was settled at the end of September
- A shortfall placement of $863K was settled after the end of the quarter.
- The Company held $2.24M in cash as of 30 September 2020 and in excess of $3m shortly thereafter.
- The Company acquired third party cloud capability by way of reselling partnership with Nucleus Cyber.
The Company’s September 2020 Appendix 4C is attached. Following the change of the Company’s
financial year announced to the ASX on 2 April 2019, the attached Appendix 4C reflects the second
quarter’s activities of the Company’s new financial year commencing 1 April 2020.
Activities Report and Business Update
The September quarter has seen the business continue to engage on a number of exciting
opportunities in the European, North-American and Asian markets. The European-based team has
been working closely with NTT DATA Deutschland to demonstrate its unique encryption solution,
culminating in the announcement of a strategic partnership with the leading global innovator in
Additionally, the Company and Nucleus Cyber announced a strategic partnership in September, which
will deliver enhanced Microsoft O365 protection capability, to complement Cipherpoint’s best in class
on-prem protection. Together with Nucleus Cyber, work has already commenced on a number of
opportunities in Europe, South-East Asia and North-America.
The Company remains well capitalised to meet its near-term objectives in delivering its unique
discovery, classification and protection solutions to new customers and markets. The Board is carefully
observing the further Covid-19 lockdowns in Europe which are likely to impact the service sector, delay
any economic rebound and impact already long sales cycles. Therefore, and given our small team we
are focussing on three priorities
building major IT integrator channel relationships as our primary go to market channel to
leverage their sales presence and costumer bases
- building major IT integrator channel relationships as our primary go to market channel toleverage their sales presence and costumer bases
- accelerating our internal cloud platform development efforts
- leveraging, through our German office, European government and enterprise preferences to use regional and local vendors and with sovereign capability
Our sales pipeline consists of a small number of large government and enterprise end users which are
or have been evaluating our products for deployment.