Fast, Friendly, Secure Authentication Sentinel Authenticatio n
Feb 24, 2016
Fast, Friendly, Secure Authentication
Sentinel Authenticatio
n
Hackers favor authentication-based attacks, report shows.
*The ProblemSummary: A suitable password
replacement could disrupt or defeat 80% of these attacks, report concludes.By John Fontana for Identity Matters | April 24, 2013 -- 13:52 GMT
(06:52 PDT)
“It’s not a matter of “if” when it comes to these attacks; it’s just a matter of when.”
Barry Rich – CFO CapitalMark Bank & Trust.
The average cost to a business for a data breach, not including soft, yet very real costs
(e.g. customer confidence/loyalty, brand/reputation, etc.) in 2010 was $7.2
million, or $214 per compromised record.
Enterprise Sentinel is an extremely secure yet user friendly corporate authentication
solution that can be cost effectively utilized on most platforms and end points.
*The Solution
Enterprise Sentinel® utilizes the Passrules® authentication process to allow users to
quickly and easily create one-time passcodes that are extremely resistant to today’s forms
of hacking.
The Passrules® authentication process has been patented in the U.S., Canada, China and
is pending throughout most of the world.
*The Solution
Enterprise Sentinel® is completely software based which means it can be used to secure
almost any device or platform including corporate servers, mobile devices, banking machines, personal computers, and many
more.
Gartner Research estimated the size of the authentication market in 2012 to over $2
Billion U.S. with an anticipated 30% annual growth rate.
*Market OpportunityThere is a fast growing movement driven by many top CISO’s to eliminate our reliance on passwords and to adopt more secure yet user
friendly methods of authentication.
- Targeting innovative and agile SMB’s.
*Go to MarketOur go to market strategy incorporates four
major streams.
- Partnering with other security providers to create a range of products. - Working with industry players (Gartner, FIDO, etc.) to gain exposure & credibility. - Drive by opportunities with big, profile customers.
Enterprise Sentinel® software is ready for market and operates on most Microsoft
operating systems.
*Our TechnologyEnterprise Sentinel® provides entities with
cost effective strong authentication alternative to legacy passwords and expensive and non-
user friendly 2 factor systems.
To date we have 2 pilot installations, a health care provider and a technology company.
- Independent consultants that recommend IT to services to SMB’s.
*Sales ChannelsThe market channels we will focus on are:
- Strategic partner’s existing client bases and joint prospects - Direct sales through leveraging alliance partner and industry contacts.
- Enterprise Sentinel® is sold on an initial installation and on-going annual license fees basis.
- Developing a cloud based ID as a Service capability to reduce installation costs and to make it easier for SMB’s to acquire and use our technology.
There are a few solution providers targeting this market including SecureMatrix, Syferlock,
SafeNet and RSA.
*Market PositioningWe will position our products in the relatively
uncontested market space that exists between legacy passwords and 2 factor authentication
systems.
Our strategy to lead this market is to leverage our superior technology product and to focus
our main sales efforts on more agile and innovative entities.
*The Numbers
2013 2014 2015 2016 2017
Initial License Fees
331875 836250 1706250 3180000 6337500 Annual Maint. Fees
0 132750 300000 641250 1277250
R&D Grants
150000 50000 0 0 0 Total Gross Revenue
481875 1019000 2006250 3821250 7614750
Expenses
Salaries --- Executives x 3
180000 180000 180000 180000 180000 Salaries --- VAR Mgr.
80000 252000 617400
Salaries --- Tech Support
60000 189000 463050 Salaries --- Admin Support
40000
88200 138915
Benefits
27000 33000 48000 106380 209905 Operating Expenses
20000 254750 501563 955313 1903688
Marketing
24094 50950 100313 191063 380738 Product Res. & Devel.
200000 200000 200000 200000 200000
Patents & Trademark
35000 35000 35000 35000 35000 Professional Services
9637.5 20380 40125 76425 152295
Total Expenses
495731 814080 1245000 2273380 4280990
EBITDA
-13856 204920 761250 1547870 3333760 EBITDA as % of Revenue
-2.88 20.11 37.94 40.51 43.78
S/W Devel. Amortization
200,000 200,000 200,000 200,000 200,000 Interest Expense (8% p.a.)
80,000 64,000 48,000 32,000 16,000
Other Depreciation
NEBT
-293,856 -59,080 513,250 1,315,870 3,117,760 NEBT as % of Revenue
-60.98 -5.80 25.58 34.44 40.94
Provision for Bonuses
0 0 102650 263174 623552.05 Provision for Taxes
Potential Net Income (Before Taxes)
-293,856 -59,080 410,600 1,052,696 2,494,208
Independent board has not yet been established. “Friends” include:
- Lon Hoffman – Partner - Accenture- General Harry Ruduege (ret) – Head of Cyber
Security - Deloitte- Rajesh Ahuja – Information Security,
Authorization Controls - Boeing
*The PeopleThe management team collectively - Has over 50 years of experience in bringing concepts to market successfully- Is familiar with the challenges at the various stages of growth - Has extensive experience in leading organizations to successful outcomes - Has a broad network of resources at their disposal
Key elements required:- Greater market profile - Marque client/partner- Additional capital
*Important StepsSo far we have:
- Completed our Microsoft based applications plus Android & iPhone apps- Defined our go to market strategy - Performed external testing on the strength and usability - Patented and Trade-Marked - Won awards for innovation, security and interoperability.
Future initiatives include:- enhancing our direct sales capabilities - building our VAR/Partner network globally- further programming enhancements - developing of a cloud based identification
(IDaaS) service - developing of “password broker” technology
*Financial ResourcesWe are looking to connect with strategic to accelerate our market entry and capitalize on
the growing trend to replace passwords.
Enterprise Sentinel® delivers the best characteristics of legacy technologies while eliminating the weaknesses that are making them obsolete.
*Why we will winMost business successes are the result of having a product or service available to meet the demands caused by changes in the external environment. Our game changing technology is extremely well positioned to meet demand for enhanced authentication security as the market continues to adopt and employ better alternatives to passwords.
*System Benefits
More secure
Resistant to all forms of authentication hacking
Fast and Easy to use
Can be used on multiple platforms and devices
Cost effective