On June 25, 2018 Leonovus (LTV.V) announced a major trial of Leonovus software for a large department in the Canadian government. The stock is up 12% on 1 million shares by mid-morning.
Leonovus Key Highlights:
- August 2017, signed first proof of concept (POC) customer. LTV has now added eight more POC installations.
- Data archived with patented algorithms and hardened secure storage is “shredded” and distributed across on-premises and multi-cloud infrastructure.
- Auditable, ironclad security makes compliance easy.
- Supports continued use of legacy equipment. If any one piece of equipment fails, the data can be regenerated. Self-healing is built right into the architecture.
- Clients can use multiple clouds for data storage and manage them through a single dashboard.
- Hardware and software-agnostic.
- Optimizes use of idle storage resources for other IT-sanctioned functions
Leonovus had previously announced its approval for the GOC’s Build in Canada Program, which entitles the LTV to a $500,000 purchase grant and a $1.5M simplified supply arrangement for any federal customer.
According to the June 25, 2018 press release, LTV is “now in detailed discussions with ten different government departments” to install its software defined storage solution.
Today we are pleased to announce closing of a comprehensive trial with one of these departments.
Governments, like corporations, are faced with economically managing tsunamis of data while meeting requirements for compliance, security data storage and retrieval.
LTV’s patented ‘encrypt – shred – spread’ data storage algorithms results in military-grade cyber security and uses the cloud to significantly reduce storage costs.
The Leonovus hybrid, multi-cloud data storage capability ensures that the department’s storage assets are not stranded or locked into a specific cloud storage provider.
Moreover, Leonovus software enables the department to take advantage of the continuous downward pricing trends for cloud storage services.
“Our software-defined storage solution will help government departments dramatically reduce their storage costs and ensure the protection of public data,” stated Michael Gaffney, LTV Chairman, and CEO.
In a recent blog post, Tom Broussard, LTV Senior Sales Engineer described the current data management landscape:
“Today, we have many steps in the data lifecycle,” wrote Broussard, “You obtain it (purchase or create data), then you index it, store it, transact with it, analyze it, report it, display it, secure it, sell it, buy it, archive it, back it up and hopefully one day you actually delete it.
Data breaches, hackers, natural disasters, government regulations, malware, etc. all these issues must be prepared for because they can all happen and all at once.”
LTV’s software enables companies to aggregate “at rest data” into a single data layer, then shred it and disperse it.
“You have unlocked your data from a single vendor, single location, single provider and then guaranteed that it is secure no matter where it’s stored and that it will always be available,” stated Broussard.
The following chart confirms that LTV rode The Great 2017 Blockchain Rush – and then suffered through the inevitable Winter of Discontent.
What distinguishes LTV from many of its peers is that it has a focused business objective that has already moved well beyond “Proof of Concept”.
The application of its technology is almost unfathomably wide.
For instance, LTV identified a potentially profitable opportunity in the law enforcement data management market – which is changing rapidly due to the widespread adoption of vehicle and body cams
The Chicago City Police Force has 12,000 officers. Body cams record 29 frames per second. Back-of-the-envelope math – and you get about 50 billion images that have to be catalogued and archived every week.
That’s one police force – for one week. The ability to archive those images securely is vital for the prosecution of criminals and the protection of the officers from frivolous lawsuits.
“Because of the massive data growth in all forms of digital evidence such as car and body cams, this market [law enforcement] is perfect for the Leonovus blockchain hardened software-defined object storage solution”, stated Michael Gaffney, Chair, and CEO of Leonovus.
Outside law enforcement, there is an explosion of data from closed circuit systems, surveillance systems, text and call records, social media and other electronic records.
The trial with the Canadian government will last three months.
“The plan is to move this department into production and a standard supply arrangement in the fall of 2018,” stated Gaffney, “We anticipate that this is the first of several government departments to trial and install Leonovus software.”
Full Disclosure: LTV is an Equity Guru marketing client and we own stock.