Published On: Fri, Sep 16th, 2016

Com-Guard.com, Inc. (OTCMKTS:CGUD) Files FY2016 Financial Results and Corporate Update

Com-Guard.com, Inc. (OTCMKTS:CGUD) has filed its financial results for the FY2016, recording an increase of $31,000 in sales, which amounted to $80,000 for the FY2016. The company noted that majority of the sales, for the last two years, was comprised of consulting services. Moreover, the company is yet to report significant sales from apps sold through Apple Inc. In addition to this, CGUD also recorded a decline of $5,000 in its selling, general and administrative expenses.

Unfortunately, the company reported a net loss for its FY2016, of $707,000. Currently, CGUD is dependent upon debt and equity financing to fund its operations. During the 1H2016, the company’s cash position declined by $6,000, while its notes payable increased by approximately $200,000. Dr. Edward W. Savarese, the CEO of CGUD, stated that they were working to develop mobile software for the protection and presentation of data. He noted that the company has over 15-years of experience in security and data protection markets.

In the accompanying corporate update, Com-Guard noted that it would be focusing on three different market segments. These include Security Applications, Secure Printing and Tracker Applications. It should be noted here that the company already has mobile applications for security and tracker applications, available for all mobile platforms. However, it is currently working on the issues involved with secure printing and is yet to announce any products for this market.

Earlier, in July, Com-Guard had announced that it had signed up for the developer tools, provided by Twilio Inc. The company stated that it had entered into a strategic partnership with ImageTech Corporation. CGUD noted that ImageTech had a unique solution for secure mobile printing. Moreover, this platform is also designed to support the rapidly growing, Internet of Things. Under the agreement, Com-Guard would be working towards licensing this technology.

Com-Guard.com, Inc. (OTCMKTS:CGUD) gained 50% in terms of its share value, on a trade volume of 3.47 million, to close at $0.0009 per share, at the end of the September 15 session.

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