JOHNS CREEK, GA--(Marketwired - May 18, 2017) - Sirrus Corp. ("Sirrus" or the "Company") (
Under the terms of the Strategic Partnership Agreement, Sirrus Security, Inc., a wholly-owned subsidiary of the Company, has agreed to develop, design, maintain, and support an original Time Verification Services software applications program and hosting platform to be known as "Relify Time." Subject to certain terms and conditions, Sirrus will receive a royalty fee of 40% of the gross profit from the partnership, commencing on the date when RelifyTIME first sells licensed services incorporating the new applications.
RelifyTIME Verification Services will provide certifiable digital time stamping which would constantly verify the accuracy of certain network events and transaction devices such as credit card machines and ATM's, validating them with the National Institute of Standards and Technology (NIST) time servers.
"Partnering with RelifyTIME to leverage our industry leading cybersecurity expertise with a new one-of-a-kind application platform will, I believe, revolutionize how the time stamps of network events and transactions are tested and verified in today's rapidly changing and vulnerable digital systems," commented Sparrow Marcioni, Sirrus Corp. CEO. "We are looking forward to working closely with the cybersecurity and sales specialists at RelifyTIME to develop and market best-in-class Time Verification Services solutions for the healthcare, financial, and other vitally important sectors."
Sterling Pearson, CEO of RelifyTIME LLC, commented, "As the recent and on-going WannaCry cyberattacks have again proven, cybersecurity is a constantly evolving war to protect data and systems from malicious random hackers and professional criminal organizations. Partnering with the cybersecurity experts at Sirrus Security to develop, design, and maintain Relify Time, will enable us to focus our resources on offering the consistently best possible time verification solutions to our clientele over the long run."
The Strategic Partnership Agreement also provides Sirrus Security, Inc. a 30-day right of first refusal to acquire the Relify Time product should RelifyTIME choose to sell the product to a third party. RelifyTIME has also granted Sirrus Security the right of first refusal for any financing transaction, expiring 14 days after notice is given.
About Sirrus Corp.
Sirrus Corp. (
Additional information regarding Sirrus Corp. and Sirrus Security can be found at www.sirrussecurity.com .
About RelifyTIME
Founded by cyber security industry veterans, RelifyTIME is dedicated to changing the way that organizations think about time as a security control. The company's sole focus is establishing a unique and secure method for providing time as a service.
Cautionary Note Regarding Forward-Looking Statements
This press release by Sirrus Corp. ("Sirrus") may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as expects," "plan," "believes," "will," "achieve," "anticipate," "would," "should," "subject to," or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Although Sirrus management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Known risks and uncertainties include those identified from time to time in the reports filed by Sirrus Corp. with the SEC. Sirrus assumes no obligation to update publicly any forward-looking statements contained in this press release.
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