Cybergy Holdings Inc (OTCMKTS:CYBG), a national leader in smart grid technologies, cyber security and mission-oriented government services, has decided to provide 2015 mid-year business guidelines.
Mark Gray, Chairman and CEO, Cybergy Holdings, announced results for business development related activities and general updates for all the shareholders and other concerned parties.
Insights On Mid-Year Updates:
Various numbers of submitted contract wins and proposals through 2Q2015 dictate that the company should enhance the dollar value of all the new business pipelines of 2015. The senior management of Cybergy Holdings is delighted to have come up with these updates and hopes that things will continue to fall in line in the coming months as well. According to Mark Gray, Cybergy Holdings Inc (OTCMKTS:CYBG) submitted over 60 proposals and request-for-information responses worth $67.5 million in 2014. Out of these 60 proposals, the company has won 55, which is something extraordinary.
The company has submitted proposals worth $63.8 million so far in the current year, and the management team is confident that this number will get double of previous year’s amount by the end of the year. Some of the most important proposals submitted by the company include-
- $5 million for cyber security services
- $50 million in the IT support services
- $4 million for U.S. Department of Energy, which is also a premier client of Cybergy member company New West Technologies
- $200,000 in the advanced transportation vehicle studies
- $5.6 million for providing community-level solar technical assistance on national level
Previously, the company managed to win proposals at an average rate of 55%; however, the management team expects this rate to go higher in 2015. The rate is already trending higher than most of the companies in the same industry, and with the improved market conditions, it can touch newer heights in the coming months.