THE WOODLANDS, TX, Sept. 26, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Optium Cyber Systems, Inc. (OTC: OCSY) is pleased to update stockholders on the previously announced acquisition of Iron Man Protection, LLC, a privately held security and protection firm based in Houston, Texas. Optium Cyber Systems has satisfactorily completed its due diligence and is on schedule to close the transaction September 30, 2018.
Optium Cyber Systems, Inc. will acquire 100% of the outstanding ownership interest of Iron Man Protection, LLC (the ‘Acquisition’) through the issuance of restricted common shares. The common shares to be issued will be based on Acquisition’s current years gross revenue then distributed on a pro-rata ownership basis. The transaction is on schedule to close September 30, 2018 with possession of October 1, 2018. The Acquisition will be established as a wholly owned subsidiary and will transition Optium Cybers Systems, Inc. from a cyber security to a multifaceted security and protection company.
“This first acquisition is very important;” commented Mr. George Rutherford, President of Optium Cyber Systems, Inc. “It provides the corner stone for both our short and long term growth strategies. Short term - the development of new clients for Iron Man Protection with the goal of generating over $2 million in revenue for 2019. Long term - the first or a number of planned acquisitions with the goal of $10+ million in revenue in the next 3 years;” continued Mr. Rutherford.
About Optium Cyber Systems, Inc.
Optium Cyber Systems, Inc. (‘Optium’) is a cyber security consulting company that has developed a process to analyze, identify and address cyber security vulnerabilities in an organization’s critical IT infrastructure which is scalable to any size organization in any industry. Optium Cyber Systems, Inc. recently entered into an agreement to acquire 100% of the outstanding ownership interest of Iron Man Protection, LLC. Optium Cyber Systems, Inc. is a publicly traded company having its common shares quoted on the OTC Markets under the symbol OCSY.
About Iron Man Protection, LLC
Iron Man Protection, LLC is a full-service security guard company that manages Houston business security requirements with over 40 years of law enforcement experience and military influence. Iron Man Protection offers a level of defense that is next to none and takes pride in its commitment to keeping clients and their assets safe. Iron Man Protection serves a wide variety of industries including: commercial buildings, residential communities, retail stores,
industrial and construction sites, financial Institutions, public events and religious establishments. Iron Man Protection only employs the most experienced and highly trained security professionals to handle clients defensive requirements. The results of our selective process have earned our team a reputation for quality, professional and dependable service that clients have grown to trust. Iron Man Protection is expertly comprised of licensed and certified armed guards, security consultants with over 25 years of professional security experience and a management team that proudly served with the Houston Police Department, Harris County Deputy’s Office and the United States Marine Corps.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Optium Cyber Systems, Inc.'s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.