Plurilock Security Inc (PLUR.V) is a Canadian identity-centric AI cybersecurity solutions company. The cybersecurity company provides multi-factor authentication (MFA) solutions using behavioral-biometric, environmental, and contextual technologies.
Recently, Plurilock reported record Q2 financial results. As well as announcing it has established an Information Security Advisory Council comprising of leading cybersecurity industry experts and academics which will provide expert guidance to the Company on advancing its business development strategy and scaling its AI-focused technology offering portfolio. Just yesterday, Plurilock announced it had signed its first cross-sale order for PromptGuard with a US Financial Services firm, and launched Plurilock AI PromptGuard version 1.0.
Today, the Company announced it has received a US $4.2 million two year sale order from the US Department of Health and Human Services.
The sale represents the latest transaction in a series of orders between Plurilock and a U.S. government customer in recent months and the Company intends to secure more contracts with organizations within the North American public sector. According to the terms of the order, the Company will deliver data analytics software and professional services solutions to the Customer.
“We are pleased to announce a US$4.2 million sale order with a U.S. federal customer,” said Ian L. Paterson, CEO of Plurilock. “Our focus is to continue growing our customer pipeline in North America and we intend to build stronger business relationships with organizations across key industry verticals as part of our sales strategy.”
After bouncing at the major support zone at $0.125, Plurilock gained strength and momentum backed on the news that the Company is announcing a strategic focus on addressing the growing AI cybersecurity threats on July 18th 2023. Further momentum followed with a major 15% green day on July 19th 2023.
The stock saw an initial breakout of the trendline followed by hitting recent highs at $0.16 before reversing and selling off hard. The stock failed to remain above the major support zone at $0.12, and has since broken below and printed new all time record lows at $0.075.
For the stock to regain some sort of bullish momentum, it would need to take out the current lower high I have pegged at $0.095. This would be a good start to attempt to regain momentum for a retest of the $0.12 zone.
