Core Insights - CISO Global, Inc. has successfully deployed Skanda, a next-generation penetration testing and security analysis tool that utilizes AI and machine learning to enhance cyber resilience for organizations globally [1][3] - Skanda is valued at $50 million and is integral to CISO Global's cybersecurity offerings, reinforcing the company's commitment to proactive cybersecurity solutions [2] Product Features and Benefits - Skanda provides continuous, on-demand security assessments, allowing organizations to rapidly identify vulnerabilities and respond to threats with unprecedented speed [3] - The tool is designed to evolve into a real-time penetration testing solution, enabling continuous security assessments and immediate remediation of identified vulnerabilities [3] - By integrating Skanda into routine operations, organizations can strengthen compliance with frameworks like the Cybersecurity Maturity Model Certification (CMMC) and enhance overall security resilience [4] Company Vision and Commitment - CISO Global emphasizes the importance of automation in improving efficiency, profit margins, and network security, positioning Skanda as a key asset in adapting to emerging cyber threats [5] - The company is dedicated to providing adaptive, automated security solutions that help clients meet stringent compliance requirements confidently [5]

Core Insights - CISO Global, Inc. has launched CISO Edge, an AI-driven cloud security solution aimed at meeting the increasing demand for enterprise-grade cybersecurity [1][4] - CISO Edge is part of a proprietary cybersecurity suite valued at $50 million, with an independent valuation of $30 million, focusing on AI-driven threat intelligence and proactive security monitoring [2] Product Details - CISO Edge provides comprehensive security for cloud-first, hybrid, and remote environments, designed specifically for large enterprises, government entities, and high-value networks [2][3] - The solution has been tested in real-world scenarios, successfully blocking over 87,000 cyberattacks in six hours during recent cybersecurity conferences [3] Market Position - The launch of CISO Edge reinforces CISO Global's position as an innovator in the rapidly growing AI-driven security market [4] - The company aims to expand its market presence and drive shareholder value through the introduction of this new product [3]

Core Insights - CISO Global, Inc. is a leader in AI-powered cybersecurity and compliance, actively collaborating with Microsoft Azure and Amazon AWS [1][4] Group 1: Microsoft Collaboration - CISO was selected for the Microsoft Security Copilot program, successfully developing a Proof of Concept (POC) that integrates Microsoft Security Copilot with CISO's Argo Secure platform [2] - The POC demonstrated bidirectional data flow, enhancing asset management and threat detection with 75,000 sample logs, including multi-stage attacks [2] - A specialized Security Copilot plugin was developed to integrate with Argo Secure's API, improving security intelligence through contextual insights [2] Group 2: AWS Integration - CISO Global's TIGRIS GRC solution is now available in the AWS Marketplace, emphasizing the company's commitment to cloud security and governance [3] - AWS users can access three key security solutions: Cloud-Based Security Gap Analysis, Third-Party Cloud-Based Security Assessment, and Cloud-Based Architecture Review [3] - These solutions aim to enhance cloud security posture while ensuring compliance and operational efficiency [3] Group 3: Company Vision - The CEO of CISO Global stated that the future of security is proactive and cloud-based, focusing on integrating AI-powered security solutions with leading cloud providers [4]

Core Insights - CISO Global, Inc. has successfully completed the DIBCAC audit and passed the Cybersecurity Maturity Model Certification (CMMC) requirements, enhancing its position in the cybersecurity industry [1][3][4] Group 1: Compliance and Certification - CISO Global will be authorized by the CyberAB to assess and certify defense contractors under the CMMC framework, positioning the company among an elite group of organizations [2][4] - The CMMC framework aims to improve the cybersecurity posture of the Defense Industrial Base (DIB) by enforcing strict controls for protecting Controlled Unclassified Information (CUI) and Federal Contract Information (FCI) [3][4] - The successful navigation of the C3PAO CMMC audit demonstrates CISO Global's expertise in implementing and evaluating security controls that meet high industry standards [3][4] Group 2: Commitment to Cybersecurity - The achievement of passing the CMMC audit reflects CISO Global's commitment to maintaining high cybersecurity standards and assisting clients in meeting federal compliance requirements [4][5] - CISO Global plans to offer comprehensive support for businesses within the DIB, including compliance preparation consulting and conducting official CMMC assessments upon final certification by the CyberAB [4][5] Group 3: Industry Leadership - CISO Global is recognized as a leader in managed cybersecurity and compliance, providing tailored solutions to protect organizations from cyber threats [5][6] - The company emphasizes the importance of compliance as the foundation of cybersecurity, aiding defense contractors in navigating complex regulations [5]

Core Insights - CISO Global, Inc. has successfully completed the DIBCAC audit and passed the Cybersecurity Maturity Model Certification (CMMC) requirements, enhancing its position in the cybersecurity industry [1][3] - The company will be authorized by CyberAB to assess and certify defense contractors under the CMMC framework, positioning itself among a select group of organizations [2][4] - CISO Global's compliance division demonstrated adherence to advanced cybersecurity practices and risk management principles, affirming its expertise in implementing security controls [3][4] Company Developments - The Managing Director of Strategy and Risk at CISO Global expressed pride in passing the CMMC audit and emphasized the company's commitment to high cybersecurity standards [4] - Upon final certification by CyberAB, CISO Global will provide comprehensive support for businesses in the Defense Industrial Base, including compliance preparation consulting and official CMMC assessments [4] - The CEO of CISO Global highlighted the importance of compliance as the foundation of cybersecurity and the company's role in assisting defense contractors with regulatory complexities [5] Industry Context - The CMMC framework, established by the U.S. Department of Defense, aims to enhance the cybersecurity posture of the Defense Industrial Base by enforcing rigorous controls for protecting Controlled Unclassified Information (CUI) and Federal Contract Information (FCI) [3] - Organizations seeking guidance on CMMC compliance and cybersecurity best practices can rely on CISO Global's expertise [6]

Core Insights - CISO Global, Inc. has secured a strategic investment of $6,500,000 from Target Capital through a convertible note, aimed at reducing short-term debt and enhancing the company's balance sheet to accelerate profitability [1][2][3] Financial Impact - The investment will primarily be used to pay down short-term liabilities, which will improve financial flexibility and free up cash flow for further investments in scaling software sales to existing clients and channel partners [2][3] - This funding is expected to strengthen CISO Global's operating cash flow and expedite the deployment of its software solutions, reinforcing its commitment to innovative service delivery [3] Strategic Vision - The investment reflects Target Capital's confidence in CISO Global's business model and long-term vision, with the belief that the company is currently undervalued and has significant profit-generating potential [2][3] - CISO Global's CEO emphasized that the investment marks a pivotal step towards sustained profitability, focusing on expanding software sales within its established client base and partner network to drive revenue growth and operational efficiency [3] Company Overview - CISO Global, Inc. is a leading cybersecurity firm that specializes in comprehensive security solutions designed to protect organizations from cyber threats, leveraging advanced technology and industry expertise to ensure the security and compliance of clients' digital assets [5]

Revenue Performance - Total revenue decreased by $2.4 million, or 9.4%, to $23.3 million for the nine months ended September 30, 2024, compared to the same period in 2023[126]. - Security managed services revenue decreased by $1.5 million, or 7%, for the nine months ended September 30, 2024, primarily due to lower hardware and software sales[141]. - Professional services revenue decreased by $1.2 million, or 40%, for the nine months ended September 30, 2024, primarily due to lower customer projects[141]. - Cybersecurity software revenue increased by $304,727, or 100%, for the nine months ended September 30, 2024, due to the initial launch of new cybersecurity software products[142]. Profitability and Loss - Total gross profit increased to $2.7 million for the nine months ended September 30, 2024, up from $1.6 million in the same period in 2023, resulting in a gross profit percentage increase to 11% from 6%[126]. - Net loss from continuing operations improved to $12.7 million for the nine months ended September 30, 2024, compared to a net loss of $53.4 million for the same period in 2023[126]. - Loss before income taxes improved by $40.3 million, or 73.7%, for the nine months ended September 30, 2024, compared to the same period in 2023[140]. - The company incurred a net loss of $18,723,961 and negative cash flows from operations of $3,582,726 for the nine months ended September 30, 2024[152]. Operating Expenses - Total operating expenses decreased significantly by $39.7 million, or 72%, for the nine months ended September 30, 2024, compared to the same period in 2023[140]. - Stock-based compensation expenses decreased by $2.8 million, or 44%, for the nine months ended September 30, 2024, compared to the same period in 2023[140]. - Operating expenses, including professional fees, decreased by $1,671,405, or 62%, for the nine months ended September 30, 2024, compared to the same period in 2023[146]. - Advertising and marketing expenses decreased by $235,836, or 87%, for the nine months ended September 30, 2024, compared to the same period in 2023[147]. - Selling, general, and administrative expenses decreased by $3,241,943, or 23%, for the nine months ended September 30, 2024, compared to the same period in 2023[148]. - Impairment of goodwill decreased by $31,776,820, or 100%, for the nine months ended September 30, 2024, compared to the same period in 2023[151]. Cash Flow and Financing - Net cash used in operating activities was $3,582,726 for the nine months ended September 30, 2024, compared to $6,704,498 for the same period in 2023[158]. - Net cash provided by investing activities was $916,905 for the nine months ended September 30, 2024, primarily due to the sale of a subsidiary[159]. - Net cash provided by financing activities was $2,105,679 for the nine months ended September 30, 2024, compared to $5,777,702 for the same period in 2023[160]. - As of September 30, 2024, the company had $291,190,324 of available funding under its Shelf Registration Statement on Form S-3[153]. Cybersecurity Software - Cybersecurity revenue is derived from internally developed software products including CHECKLIGHT Endpoint Security Monitoring, ARGO Security Management, CISO Edge Cloud Security Platform, DISC Net Gen VPN, and Skanda Breach Assessment Tool[181]. - Revenue recognition for cybersecurity software begins upon provisioning and is recognized ratably over the service period[181]. - The company does not bundle its cybersecurity software with other products, eliminating the need for standalone selling price determination[181]. Market and Risk Disclosures - There are no off-balance sheet arrangements that could materially affect the company's financial condition or results of operations[182]. - As a smaller reporting company, the company is not required to provide detailed market risk disclosures[183].

ATLANTA, Sept. 13, 2024 /PRNewswire/ -- Ameris Bank is pleased to announce Jorge Perez, Ameris Bank's corporate information security officer, has been recognized in the esteemed 2025 HITEC 100 list honoring the most influential and distinguished Hispanic professionals in technology. Jorge PerezJorge Perez Every year, HITEC recognizes the achievements and contributions of the top U.S.-based Hispanic technology executives with the goal of celebrating their impactful leadership and inspiring others looking to ...

AI-Powered Security Solution Blocks Over 87,000 Hack Attempts in Just 6 Hours Scottsdale, Ariz., Aug. 22, 2024 (GLOBE NEWSWIRE) -- CISO Global, Inc., (NASDAQ: CISO) an industry leader in proprietary software, managed cybersecurity, and compliance, announces the continued success of its AI-powered CISO Edge security platform at the 2024 annual Black Hat USA and DEF CON 32 conferences in Las Vegas. For the second consecutive year, Edge demonstrated its robust capabilities by successfully blocking over 87,000 ...

Financial Performance - Total revenue decreased by $1.2 million to $15.8 million for the six months ended June 30, 2024, compared to the same period in 2023[91] - Total gross profit increased to $1.6 million for the six months ended June 30, 2024, compared to a loss of $0.2 million for the same period in 2023[91] - Gross profit percentage improved to 10.4% for the six months ended June 30, 2024, compared to (1.4%) for the same period in 2023[91] - Net loss from continuing operations improved to $10.5 million for the six months ended June 30, 2024, compared to $50.4 million for the same period in 2023[91] - Total loss before income taxes improved by $39.8 million to $(10.5) million for the six months ended June 30, 2024, compared to $(50.4) million for the same period in 2023[98] Revenue Breakdown - Security managed services revenue decreased by $483,962, or 6%, for the three months ended June 30, 2024, primarily due to lower hardware and software sales[93] - Cybersecurity software revenue increased by $95,874, or 100%, for the three months ended June 30, 2024, due to the initial launch of new cybersecurity software products[93] Operating Expenses - Total operating expenses decreased by $18.6 million to $5.2 million for the three months ended June 30, 2024, compared to $23.7 million for the same period in 2023[92] - Stock-based compensation expenses decreased by $862,319, or 41%, for the three months ended June 30, 2024, due to various factors including a decline in share price[97] - Professional fees decreased by $1,249,378, or 61%, for the six months ended June 30, 2024, compared to the same period in 2023[102] - Advertising and marketing expenses decreased by $120,861, or 79%, for the six months ended June 30, 2024, compared to the same period in 2023[102] - Selling, general, and administrative expenses decreased by $1,930,736, or 20%, for the six months ended June 30, 2024, compared to the same period in 2023[102] - Stock-based compensation expenses decreased by $3,384,272, or 59%, for the six months ended June 30, 2024, compared to the same period in 2023[103] - Impairment of goodwill decreased by $31,776,820, or 100%, for the six months ended June 30, 2024, compared to the same period in 2023[103] Cash Flow and Funding - The company incurred a net loss of $15,046,075 and negative cash flows from operations of $2,679,622 for the six months ended June 30, 2024[104] - As of June 30, 2024, the company had $291,190,324 of available funding under its Shelf Registration Statement[105] - The working capital deficit increased to $(19,047,707) as of June 30, 2024, compared to $(9,404,568) as of December 31, 2023[106] - Net cash used in operating activities was $2,679,622 for the six months ended June 30, 2024, compared to $5,318,960 for the same period in 2023[109] - Net cash provided by financing activities was $3,068,338 for the six months ended June 30, 2024, compared to $5,493,207 for the same period in 2023[111] Internal Controls and Compliance - As of June 30, 2024, the company's disclosure controls and procedures were evaluated as effective by the principal executive officer and principal financial officer[129] - There have been no changes in internal control over financial reporting that materially affected the company during the quarter ended June 30, 2024[129] - The company maintains disclosure controls designed to provide reasonable assurance for timely reporting of required information[128] - Management recognizes that disclosure controls can only provide reasonable, not absolute, assurance of achieving control objectives[128] - The report includes various certifications related to the principal executive and financial officers[136] Legal and Risk Factors - The company is currently not a party to any material legal proceedings[130] - There have been no material changes from the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2023[131] - No directors or officers adopted or terminated any trading agreements during the quarter ended June 30, 2024[135] - The company has not reported any defaults upon senior securities[133]