Toronto, Ontario--(Newsfile Corp. - November 3, 2023) - Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) ("Cybeats'' or the "Company") is pleased to announce that it has successfully completed 'System and Organization Controls' (SOC) 2 Type II certification, achieving a significant organizational maturity milestone. With SOC 2 Type II compliance, Cybeats is better equipped to meet specific needs of key industries and provide customers with confidence that their sensitive data is protected by a trusted partner.
Tech companies often require SOC 2 certification as it signals a high degree of organizational maturity and internal information security. Cybeats has been confirmed by MHM Professional Corporation1 to meet the AICPA Trust Service Criteria, verified through an in-depth independent audit focusing on security, availability, and confidentiality. SOC 2 certification also provides credibility with customers in target verticals which Cybeats actively services, such as industrial controls, healthcare, and automotive industries, where high levels of data security are essential.
"SOC 2 Type II compliance certification demonstrates an important milestone for Cybeats and provides the validation of our continued commitment to protecting our current and prospective clients," said Evgeniy Kharam, CISO, Cybeats.
About SOC 2
SOC 2 is a comprehensive audit that evaluates a company's internal controls, specifically regarding how customer data is protected and how well those controls are functioning. This audit also examines the design suitability of security controls within the Cybeats platform and products. SOC 2 Trust categories consist of four key areas: access controls, which include logical and physical restrictions on assets to prevent unauthorized access; change management, which is a controlled process for managing changes to IT systems and methods for preventing unauthorized changes; system operations, which include controls that can monitor ongoing operations, detect and resolve any deviations from organizational procedures, and; mitigating risk, which involves methods and activities that allow the organization to identify risks, respond to and mitigate them, while addressing any subsequent business impact. By successfully completing a SOC 2 audit, a company can demonstrate to its customers that it has implemented strong security measures and that it is committed to protecting their sensitive data.
In addition, the Company has retained a third-party investor relations firm, The Money Channel NYC ("Money Channel" or the "Service Provider") for advisory and corporate marketing services. Money Channel works with major media outlets such as network television, print press, and radio to inform the public of client's business and mission. The Money Channel has an extensive background encompassing decades of experience in capital markets and investor relations. Their database includes thousands of active market participants, providing clients with access to thousands of investment professionals, including institutional investors, investment bankers, stockbrokers, and financial planners. Through this network, they help clients meet their capital market's objectives. Pursuant to a media advertising agreement between the Company and Money Channel dated November 3, 2023, (the "Agreement") Money Channel has been retained to provide their services for a period of thirty (30) days. As consideration for their services, the Company will make a one-time cash payment in the amount of US$25,000 to Money Channel. Money Channel currently owns 70,000 common shares (the "Common Shares") in the capital of the Company.
Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com
SUBSCRIBE: For more information, or to subscribe to the Company's mail list, visit: https://www.cybeats.com/investors.
James Van Staveren
Phone: 1-888-713-SBOM (7266)
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186316