TORONTO, ON / ACCESSWIRE / February 11, 2022 / Nerds On Site Inc. (CSE:NERD)(OTCQB:NOSUF) ("NERD" or the "Company"), a mobile IT solutions company servicing Small- and Medium-Sized Enterprise (SME) marketplaces in Canada and the USA, is pleased to update its stakeholders with recent progress of the Company's activities.
Following the marketing initiative Cyber-Security Snapshot announced in the press release dated December 09, 2021, NERD has rolled out the second stage of the campaign, providing the SME-Edge solution to targeted SME Clients. The Company's SME-Edge is its comprehensive cyber-security solution that includes a fully managed network and internet traffic gateway, featuring zero-trust capabilities (see picture below). The self-contained cabinet can be easily configured to work with a Client's existing IT infrastructure and includes patented cyber-security protection that prevents information-leaking incidents caused by data breaches. The unique solution has been increasingly adopted by the SME community, with millions of Client devices being protected. The Company expects to significantly increase the number of installed SME-Edge packages, subject to the developing condition of global logistics for technology parts.
Picture of the SME-Edge device
Business Expansion to the US
NERD has been expanding its business operation to the US, where the market size of the managed IT industry is multiple-times that of the Canadian side, through pursuing Merger and Acquisition (M&A) opportunities. The Company has identified potential M&A targets this past fiscal year and is working through required due diligence processes. Potential targets must share cultural and Client treatment synergies with NERD. NERD is focused on targets that will increase its customer base and provide cyber-security upgrading opportunities, relatively improving its revenue.
Insiders' Equity Holdings
Since the Company's Initial Public Offering (IPO) in 2018, management and members of the Board of Directors have been consistently acquiring shares through the open market or private placements. The total holding of insiders is approximately 55% of the Company's total outstanding shares.
Charlie Regan, Co-Founder and CEO of NERD, comments: "According to the Cost of a Data Breach Report in 2021 by IBM, there was a $1.76M cost difference in breaches where a zero-trust approach was deployed versus undeployed. That alarming number is concrete evidence NERD is on the right track to provide unique and advanced solutions to combat cyber-criminals. We are confident that 2022 will be a breakthrough year for the Company with a number of achievements expected."
About Nerds On Site Inc.
Nerds On Site Inc., a company founded in 1995 in London, Ontario, specializes in providing cost effective, leading-edge solutions to Small- and Medium-Sized Enterprises (SME), serving as the complete SME IT solution specialist. NERD currently has annual revenues of approximately $10,000,000 and growing. The Company services more than 12,000 Clients per year with a superb 98.5% customer satisfaction rating (more than 92,000 five-star ratings). NERD's business model is based on sub-contracts in Canada and a franchise model for US expansion. Visit the website to learn more: www.nerdsonsite.com.
For more information, please contact:
Charles Regan, CEO
Nerds On Site Inc.
Thomas Do, Investor Relations Manager
CHF Capital Markets
Tel: 416-868-1079 x232
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nerds On Site Inc.
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