Cyberloq Technologies, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 13, 2020 at 05:00 pm EST
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Cyberloq Technologies, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 3,807 compared to USD 22,814 a year ago. Operating loss was USD 186,338 compared to USD 115,205 a year ago. Net loss was USD 307,430 compared to USD 115,220 a year ago. For the nine months, total revenue was USD 19,916 compared to USD 95,699 a year ago. Operating loss was USD 417,606 compared to USD 365,000 a year ago. Net loss was USD 535,698 compared to USD 365,115 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
Cyberloq Technologies, Inc. is a development-stage technology company focused on fraud prevention and credit management. The Company offers a proprietary software platform branded as CyberloQ. CyberloQ is a Multi-Factor authentication (MFA) protocol technology that is offered to institutional clients in order to combat fraudulent transactions and unauthorized access to customer accounts and or any digital asset. Through the use of a customerâs smart-phone, CyberloQ uses a multi-factor authentication system to control access to a bank card, transaction type or amount, Website, database or digital service. In addition to CyberloQ, it offers a web-based proprietary software platform under the brand name TurnScor, which allows customers to monitor and manage their credit from the privacy of their own homes. The CyberloQ Vault is a cloud-based security protocol that allows clients the ability to send/receive secure data without having to use traditional e-mail which is prone to a breach.