Back to Newsroom
Back to Newsroom

Sollensys Corp. Unwinds Acquisition of Login Custom Software, LLC

Friday, December 11, 2020 4:15 PM
Sollensys Corp.

PALM BAY, FL / ACCESSWIRE / December 11, 2020 / Sollensys Corp. (OTC PINK:SOLS) Sollensys Corp. previously announced the acquisition of Login Custom Software, LLC, a technology, consulting, engineering and custom software development company. Due to certain legal restrictions, the transaction as contemplated is not capable of being consummated. Accordingly, the parties have agreed to terminate the related transaction documents and will investigate alternative structures.

ABOUT SOLLENSYS CORP.

Sollensys Corp. ("Company") is a U.S. based, public company specializing in data management and preparation. The Sollensys Corp. team is comprised of academics, PhDs and industry experts with decades of data security management experience. Sollensys Corp. manufactures the Blockchain Archive Server that maintains a redundant, immutable backup of data. In this innovative product, redundant backups and blockchains work together to assure not only the physical security of the database but also the integrity of the information held within. Uniquely, the Blockchain Archive Server works with the client's existing equipment without the need to replace or eliminate any part of the client's data security already in place. The Blockchain Archive Server is compatible with virtually all hardware and software combinations currently in use.

The Company's Blockchain Archive Server encrypts, fragments and distributes data across thousands of secure nodes every day, which makes it virtually impossible for hackers to compromise. The product is a turn-key solution that can stand alone or seamlessly integrate into an existing data infrastructure to quickly recover from a cyber attack. We believe that Sollensys Corp. is positioned to become a leader in commercial blockchain applications due to its technology's low cost and short time to implement, which is far less than existing solutions.

FORWARD-LOOKING STATEMENTS:

Certain information in this press release relating to the Company contains forward-looking statements. All statements other than statements of historical facts included herein are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Readers should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company is under no obligation (and expressly disclaim any such obligation) to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Relations:
Sollensys Corp.
866.438.7657
www.sollensys.com
[email protected]
https://business.facebook.com/Sollensys/
https://www.linkedin.com/company/sollensys-corp/

SOURCE: Sollensys Corp.

Topic:
Company Update
Back to newsroom
Back to Newsroom