Successful Acquisition and Rebranding
Completed the acquisition of Newtek Technology Solutions, Inc., divested Paltalk, Camfrog, and Vumber applications, and rebranded to Intelligent Protection Management Corp. Successfully integrated operations without interruption.
Revenue Growth
For the 3 months ended June 30, 2025, revenue totaled $5.7 million compared to $0.3 million for the prior year period, marking a significant increase. Revenue increased 4% from the first quarter of 2025.
Strategic Partnerships and Collaborations
Selected by Hewlett Packard Enterprise as an accredited partner for its HPE Private Cloud AI solution and initiated collaboration with IT Ally.
Stock Repurchase Plan
The Board approved a stock repurchase plan for up to $400,000 of outstanding common stock.
Patent Litigation Verdict
Awarded $65.7 million in a jury verdict against WebEx Communications, Cisco WebEx LLC, and Cisco Systems, with a potential to receive up to 1/3 of the gross proceeds after litigation-related expenses.
No Long-term Debt
As of June 30, 2025, the company had no long-term debt and cash equivalents of $8.3 million, including $1 million of restricted cash.