15:07:27 EDT Sat 18 May 2024
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or Name
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Impact Analytics Inc
Symbol PACT
Shares Issued 28,023,932
Close 2024-04-10 C$ 1.05
Market Cap C$ 29,425,129
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Impact offers SDV products, appoints Frost CEO

2024-04-10 10:30 ET - News Release

Mr. Colin Frost reports

IMPACT ANALYTICS ANNOUNCES SECURE DATA VAULT AND APPOINTMENT OF COLIN FROST AS CEO

Impact Analytics Inc. has launched its Secure Data Vault product offering, intended for enterprise users. The SDV represents an important step for Impact. The SDV allows the company to offer secure computing and data storage to enterprise users seeking data storage solutions, while also allowing the company to host its applications currently under development, such as Lana Cash, Credissential and the PACT platform (formerly the Lana platform).

The hardware used to store the data for the SDV is housed at Hurricane Electric LLC's facilities pursuant to the co-hosting services agreement that the company is a party to. Currently, the company has initially dedicated 250 terabytes of space for the SDV and as demand increases, the company can increase the terabytes available by allocating more bandwidth from existing hardware stored at the Hurricane electric facilities or by acquiring additional hardware. Through the SDV, the company aims to ensure security for all types of digital data, whether in transit or while such data are being stored. Available to users as dedicated server space or as a cloud solution, the SDV aims to be a secure data storage environment, eliminating potential shared data storage risks.

SDV is designed to compete with service providers which provide Web service, data storage and cloud object storage. Pricing for the SDV can be found on the company's website. The company may also offer bespoke solutions on a case-by-case basis depending on enterprise needs.

Chief executive officer appointment and director

The company is also pleased to announce that it has appointed Colin Frost as chief executive officer and director of the company.

Mr. Frost has extensive experience in creating digital and physical consumer products. Notable places of work include Heidrick and Struggles and Experian Consumer Services. Outside of the digital world, Mr. Frost has been involved with multiple creative ventures in the automotive space. Mr. Frost is a proud alumnus of California State University, Fullerton.

Mr. Frost stated: "I am excited to join Impact Analytics and further expand on the company's development and commercialization efforts. With the launch of the SDV, Impact Analytics is poised to convert enterprises from tenants to landlords of their data storage."

Furthermore, the company announces that Eric Entz has resigned as chief executive officer and a director of the company. Mr. Entz is thanked for his service in these capacities and will continue on with the company as vice-president of business development and communications.

About Impact Analytics Inc.

Impact Analytics is a risk assessment, data intelligence and financial services platform powered by artificial intelligence. The company is building a proprietary product stack to optimize and streamline financial decision making for enterprises and individuals.

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