LOS ANGELES, Aug. 27, 2013 (GLOBE NEWSWIRE) -- EquityNet Research, an independent West Coast equity research firm based in Los Angeles, announced today that it has initiated research coverage on Cloud Security Corporation. (OTCBB: CLDS ). A full copy of the report and disclosure requirements is available at EquityNet Research's website: www.equitynet.net .
Cloud Security is an information technology (IT) services and software company that delivers immediate, easy and secure access to computer desktops and other consumer electronic devices from remote locations.
Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, "One thing is certain; the market for cloud security and Bring Your Own Device (BYOD) is hot. Close to half of firms (45%) plan to do away with issuing devices to employees and will rely solely on BYOD for mobile computing, according to recent research. The main reason: to save money. Companies surveyed spent an average of $600 per employee per year when issuing devices, compared to $100 for BYOD.
"We feel that the Company is certainly in the right place at the right time, as the industry is literally booming yet undefined, as different companies and products jockey for position. As cloud and mobile computing are taking over and the need for security enhanced, Cloud Security is developing a process that generates a unique device signature and password each and every time a one-time password is needed from a password generator. Further, means of authenticating the one-time password are configured to synchronize with the unique device signature while remaining out-of-band from the channel used to submit the one-time password for authentication. This has the potential to greatly reduce hotspot security issues."
About EquityNet Research
EquityNet Research was formed to provide the investing public with professional, independent, objective research on under-followed public companies. It does this by preparing detailed reports that highlight the key aspects of each company and its industry. EquityNet strictly maintains independence and objectivity according to the Standards of Professional Conduct of the CFA Institute (CFAI), and though is compensated for performing due diligence and creating reports, thus keeping its research free to the public, does not have extraneous relationships with its followed-companies nor has any present or future pecuniary benefit other than that disclosed for each company on its website. EquityNet was compensated $12,500 by the subject company for the preparation of the Cloud Security report. EquityNet is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any specific securities.
EquityNet Research Randy Lewis, CFA, MBA, Senior Analyst 818.783.5006
