Cyberloq Technologies inks deal with Transact Payments

Published 18/02/2025, 16:38
Cyberloq Technologies inks deal with Transact Payments

Cyberloq Technologies, Inc. (OTCQB:CLOQ), a prepackaged software services company valued at $43.56 million, has entered into a significant non-exclusive software referral agreement with Transact Payments Limited, as reported in a recent SEC filing. The company’s stock has shown remarkable momentum, delivering a 188% return over the past year. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value.

Under the terms of the agreement, signed on Friday, TransactPay will promote Cyberloq’s products in the European Union, the United Kingdom (TADAWUL:4280), and Australia, with Cyberloq compensating TransactPay with a 10% commission on all sales generated. This expansion comes as InvestingPro data reveals the company faces challenges with short-term obligations exceeding liquid assets, highlighting the importance of generating new revenue streams.

Additionally, on January 27, 2025, Cyberloq Technologies acquired a U.S. Provisional Patent Application titled "Authorization of a Physical Card Transaction (JO:TCPJ)" from a member of the Company’s Board of Advisors. This move is aimed at bolstering the company’s portfolio in fraud deterrence and payment authorization technologies.

In a separate development, on December 4, 2024, the company’s board approved new compensation arrangements for its top executives. Christopher Jackson, President of Cyberloq Technologies, received an increase in his annual base salary to $132,000. Moreover, both Jackson and Enrico Giordano, the Vice-President, were awarded year-end bonuses of $45,000 each.

These strategic moves are part of Cyberloq’s efforts to expand its market reach and enhance its intellectual property assets. The company, headquartered in Sarasota, FL, is known for its focus on cybersecurity solutions within the software industry.

While currently operating at a loss with negative earnings per share, InvestingPro analysis shows strong price momentum with a 67% return over the past six months. The details of these corporate actions are based on the latest 8-K filing with the Securities and Exchange Commission. Subscribers to InvestingPro can access 10 additional key insights about CLOQ’s financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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