SoundFi Signs License Agreement with CipherLoc
AUSTIN, TX / ACCESSWIRE / March 27, 2019 / CipherLoc Corporation (OTCQB: CLOK), a leading provider of highly-secure data protection technology, today announced signing of its first commercial license agreement with SoundFi, a revolutionary "app based" audio technology platform delivering premium 360-degree sound through headphones "in movie theaters", for the most personalized audio experience in the world. SoundFi offers both in-theater and streaming content experiences for consumers. SoundFi has signed an agreement to license CipherLoc's encryption engine products to keep SoundFi's movie soundtracks secure and safe.
CipherLoc and SoundFi have signed a four-year contract including both license fees and residuals. Additionally, the agreement commences CipherLoc's entry into the high value entertainment industry, where CipherLoc's Polymorphic Encryption Engine provides a valuable defense against piracy and theft of artistic property.
Said Dr. Milton Mattox, Chief Operating Officer of CipherLoc Corporation, "We are extremely excited to work with SoundFi as they leverage our better than military-class encryption platform to keep their audio data secure. Piracy in the global movie industry is projected to reach over $50 billion, providing a compelling value case for encryption to combat this escalating problem. CipherLoc's unique data security platform based on our patented Polymorphic Encryption Engine is ideally suited for helping to protect important data, including movie audio files, video content, customer account information and everything in between."
SoundFi will use CipherLoc's encryption technology to encrypt its movie soundtracks in the cloud and on mobile devices.
SoundFi's CEO Chris Anastas: "The SoundFi: At the Movies mobile app is a completely personalized audio experience delivered to a mobile device. Film fans simply install the SoundFi: At the Movies mobile application from Google Marketplace or the Apple app store, download the movie soundtrack file desired and then take their smartphone and headphones to watch the movie in their local participating theater. And with SoundFi: At the Movies, moviegoers can have the option of hearing the film in multiple languages, with director commentary, or other audio selections, all in an immersive 3D sound format in their favorite theaters."
About CipherLoc Corporation (OTCQB: CLOK)
CipherLoc Corporation is a data security solutions company whose vision is simple - Protect the World's Data. Our highly innovative solutions are based on our patented Polymorphic Cipher Engine, which is designed to enable an ironclad layer of protection to be added to existing products, services, or applications. We deliver solutions that are highly secure, synergistic, and scalable. In short, we keep information safe in today's highly dangerous world. For further information, please go to www.cipherloc.net.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
The information found in this Press Release does not and shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction based upon the information found in this Press Release.
Investor Contact:
Matt Kreps
Darrow Associates Investor Relations
214-597-8200
[email protected]
SOURCE: CipherLoc Corporation