Iddriven Inc (OTCMKTS:IDDR), developer of the latest breed of Identity and Access Management offerings issued a Letter to Shareholders from company’s CEO and Chairman, Arend Verweij. The CEO said that with shareholders loyalty and support, they have accomplished a lot since becoming a public firm last year, and introducing the Identity and Access Management software solution in 1Q2016. It is a solution that validates the “Identity” of a firm’s network users, decides who is approved for “Access” to the severalnetworks or data, and then “Manages” that authorization in real time.
The CEO of Iddriven said that they are focused on enhancing shareholder value, and are building a robust marketing, corporate, and sales infrastructure to facilitate high volume, large-scale global sales commencing in the current quarter. Verweij added that with so many shareholders investing for long-term in recent months, they are getting increased number of questions, about their business model and product. The CEO said that they expect a strong second half this year.
The industry view
As we talk about Iddriven performance, it becomes evident to talk about the business strategies of other companies in same sector including MGT Capital Investments Inc. (NYSEMKT:MGT). The company is looking to establish a business through acquisitions. It became clear when it submitted its proxy statement few days ago, suggesting that it intends on considerably increasing the outstanding share count. Also, it is authorized to grow this number to further multiples of what it is to become what seems to be a start-up roll-up firm.
MGT Capital increased its outstanding stock authorization from 75 million to over 200 million. The market is taking up the company’s statement and expecting that whatever firm is rolling up is going to result in a successful firm with real profit and real revenue. The projections of MGT Capital as well as the positive outlook for 2H2016 by Id driven is better left unsaid for now.