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, the Company announced it has received a US $4.2 million two year sale order from the US Department of Health and Human Services.
Today, Plurilock announced another order from a US government customer. Plurilock has received a US $5.1 million five year sale order from the US Department of the Treasury.
The sale represents the latest transaction in a series of orders between Plurilock and U.S. government customers 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 professional services solutions to the Customer.
“We are delighted to sign a five-year sale order that is worth over US$5 million with a leading U.S. federal agency,” said Ian L. Paterson, CEO of Plurilock. “Growing our sales pipelines remains as a key objective for Plurilock and we intend to secure more sale orders with North American government organizations, which will enable us to unlock the opportunity to upsell additional offerings in the future.”
At time of writing, Plurilock stock is up over 5.8% on the news.
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.
