Plurilock Security Inc (PLUR.V) is a Canadian identity-centric cybersecurity solutions company. The cybersecurity company provides multi-factor authentication (MFA) solutions using behavioral-biometric, environmental, and contextual technologies.
Today, the Company announced it has signed a contract renewal for its flagship cybersecurity software platform with an overseas pharmaceutical company.
The Customer develops generic and specialty pharmaceutical products, which is delivered across 50 countries. According to the terms of the contract, the Customer has renewed its subscription for the cloud security functionality of the Plurilock platform, which includes Single Sign-On, Access Control Management, Multi-Factor Authentication and Email Security. The platform will be utilized by over 16,500 users.
“We are pleased to have retained an overseas customer which bodes well for our overall sales strategy for Plurilock’s high-margin software solutions,” said Ian L. Paterson, CEO of Plurilock. “Businesses across various sectors including healthcare and pharmaceutical have strong cybersecurity requirements, which we aim to help fulfill with our technology offerings. Overall, this contract renewal validates the robustness and reliability of the Plurilock platform.”
This comes a day after Plurilock announced it had signed a contract renewal for its flagship cybersecurity software platform with an overseas developer of integrated resorts.
The stock is attempting to regain a major support zone, now acting as resistance. Plurilock broke out above the $0.16 zone with a strong bodied candle on February 9th 2023. The break led to a move up to $0.235 before pulling back.
With a breakout above the $0.16 zone, a breakout was in play. However in recent days, the stock has fallen and closed back below this major breakout zone while respecting a downtrend line. The retest of the breakout failed, and did not see buyers step in.
However, at time of writing, the stock is up over 3% and is back above the major $0.16 zone. The stock can regain upside momentum if it can confirm a daily close above this level by the end of today. We have been looking for a strong daily close with a nice large green body candle, and this is exactly what we are seeing.