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8-K - CURRENT REPORT - SOLLENSYS CORP. | sols_8k.htm |
Exhibit 99.1
Sollensys
Corp. Unwinds Acquisition of Login Custom Software,
LLC
PALM
BAY, FL / ACCESSWIRE / December 11, 2020 / Sollensys Corp. (OTC
PINK:SOLS) Sollensys Corp. previously announced the acquisition of
Login Custom Software, LLC, a technology, consulting, engineering
and custom software development company. Due to certain legal
restrictions, the transaction as contemplated is not capable of
being consummated. Accordingly, the parties have agreed to
terminate the related transaction documents and will investigate
alternative structures.
ABOUT
SOLLENSYS CORP.
Sollensys
Corp. ("Company") is a U.S. based, public company specializing in
data management and preparation. The Sollensys Corp. team is
comprised of academics, PhDs and industry experts with decades of
data security management experience. Sollensys Corp. manufactures
the Blockchain Archive Server that maintains a redundant, immutable
backup of data. In this innovative product, redundant backups and
blockchains work together to assure not only the physical security
of the database but also the integrity of the information held
within. Uniquely, the Blockchain Archive Server works with the
client's existing equipment without the need to replace or
eliminate any part of the client's data security already in place.
The Blockchain Archive Server is compatible with virtually all
hardware and software combinations currently in use.
The
Company's Blockchain Archive Server encrypts, fragments and
distributes data across thousands of secure nodes every day, which
makes it virtually impossible for hackers to compromise. The
product is a turn-key solution that can stand alone or seamlessly
integrate into an existing data infrastructure to quickly recover
from a cyber attack. We believe that Sollensys Corp. is positioned
to become a leader in commercial blockchain applications due to its
technology's low cost and short time to implement, which is far
less than existing solutions.
FORWARD-LOOKING
STATEMENTS:
Certain
information in this press release relating to the Company contains
forward-looking statements. All statements other than statements of
historical facts included herein are forward-looking statements. In
some cases, forward-looking statements can be identified by words
such as "believe," "expect," "anticipate," "plan," "potential,"
"continue" or similar expressions. Such forward-looking statements
include risks and uncertainties, and there are important factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Readers
should not place any undue reliance on forward-looking statements
since they involve known and unknown, uncertainties and other
factors which are, in some cases, beyond the Company's control
which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. Any
forward-looking statement reflects the Company's current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to operations, results of
operations, growth strategy and liquidity. The Company is under no
obligation (and expressly disclaim any such obligation) to publicly
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, even if
new information becomes available in the future.
Investor
Relations:
Sollensys
Corp.
866.438.7657
www.sollensys.com
info@sollensys.com
https://business.facebook.com/Sollensys/
https://www.linkedin.com/company/sollensys-corp/