BlackRidge Technology Issues Shareholder Letter and Provides Update on 2019 Activities
The Company’s Sales and Partnerships Continue to Accelerate
– May 29, 2019 – BlackRidge Technology International Inc. (OTCQB: BRTI), a leading provider of next-generation cyber defense solutions, has released the following letter to its shareholders from Chairman and CEO Bob Graham.
Dear Fellow Shareholders:
This update is for our shareholders and other interested parties to keep you abreast of current developments at
BlackRidge as a supplement to our social media, investor conferences, emails and press release updates.
Reach: Over the course of 2018 and 2019, BlackRidge has increased its global reach. Our April announcement of a major partnership agreement with NTT Advanced Technologies adds to our current relationships with Cisco and PTC, as well as a
number of systems integrators. Our relationship with NTT is already producing excellent results, including a pipeline of over 100 opportunities to help both enterprises and network operators in the Japanese market to adopt microsegmentation and identity-based cybersecurity solutions. BlackRidge received its first product order for
revenue from Japan in April and anticipates orders building throughout 2019.
As we look further at the Asia Pacific market for our cybersecurity and defense solutions, we now have planned
Proofs of Concept with major organizations in Korea and Singapore. In India, we are engaged with major potential partners and customers that have the potential to deliver significant sales. These discussions are in the late stages and announcements
will be made as they are finalized.
BlackRidge has also gained attention in Europe and Latin America by interested potential partners and customers
that will also be announced upon finalization of agreements.
America: Our corporate philosophy in North America (and globally) is to use channel partners to expand and grow sales. We have already announced two partnerships focused on North America – Atrion Communications and LRS IT Solutions – each
of which are well regarded IT solution firms. Last year we became a Cisco Preferred Solution Partner and we have been listed in the Cisco Marketplace; as a result, we have participated in numerous Cisco events which have resulted in customer
engagements and partnerships with some of the largest Cisco Resellers. We converted pilot programs to revenue with several customers during the first quarter of 2019 and anticipate this continuing to grow during the second quarter.
Security: With the introduction of our TAC Identity Device (TAC-ID) early this year, we have seen growing global interest in multiple BlackRidge applications, from the manufacturing industry and the energy sector to hospital applications
and protecting surveillance cameras. TAC-ID provides identity at the edge to enable the use of BlackRidge First Packet Authentication™ cyber defense capabilities without having to update legacy infrastructure.
Furthermore, with the announcement of our joining the PTC Partner Network and integration with PTC ThingWorx, we
now have visibility and activity starting on pilot programs and OEM relationships to enhance Industrial IoT security
that can address an installed base of more than 300 million IoT endpoints.
Market Solutions and Segments: With the convergence of IT and Operational Technology (OT), our customer engagements focus on delivering on a solution that is aimed at protecting the most critical business asset first. This includes
applying our technology to a manufacturing facility, an electric substation, the connected car ecosystem, avionics for air to ground communications and to standard IT infrastructure such as data centers, cloud applications and micro-segmenting
access to and from critical assets.
With our increased global interest, we currently have a backlog of more than 30 trials and visibility into another
50 or more potential trials. As we continue to work with partners, we are in the process of training them to spearhead customer engagements to help accelerate revenue as well as time to revenue generation. We expect second quarter 2019 revenue to
more than double first quarter revenue, with further significant revenue growth anticipated in the second half of 2019.
We completed major Department of Defense (DoD) trials in the first quarter of 2019 and will be completing additional trials in the second quarter. As the DoD enters its time of the year for major procurements, BlackRidge continues to
participate in several major programs that originated from these trials, including network protection, cloud access and management of resources. We expect to see several awards over the next 120 days.
Thank you to our shareholders
for your continued support.
Bob Graham, Chairman, Chief Executive Officer & President
5390 Kietzke Lane, Suite 104
Reno, Nevada 89511
BlackRidge Technology enables our customers and partners to deliver more secure and resilient business services in today’s rapidly evolving cyber threat environments. The BlackRidge adaptive cyber defense solution authenticates identity
before allowing network connections to proactively isolate cloud services, protect servers and IoT devices, and segment networks. Our patented technology authenticates user or device identity and enforces security policy on the first packet of
network sessions. This new level of real-time protection blocks or redirects unidentified and unauthorized traffic to stop port scanning, cyber-attacks and unauthorized access. BlackRidge was founded in 2010 to commercialize its military grade and
patented network security technologies. For more information, visit www.blackridge.us.
Note Regarding Forward-Looking Statements
Statements made in this release include “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect,"
"anticipate," "estimate," "continue," “potential” or comparable terminology. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may
change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results (including our operational (including revenue) results, as well as the results of our corporate initiatives as described in this press
release) to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition
and Results of Operations sections of our Annual Reports on Form 10-K, as may be supplemented or amended by our Quarterly Report on Form 10-Q and other public filings with the Securities and Exchange Commission (the "SEC"), which can be found on
the SEC's website at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of
the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any
change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
LANE, A Finn Partners Company
MZ North America