Tego Cyber Year End Review

LAS VEGAS, NV / ACCESSWIRE / March 20, 2024 / Tego Cyber Inc. (OTCQB:TGCB), a cybersecurity company focused on developing innovative cyber threat intelligence and autonomous correlation and threat detection tools, released a letter to shareholders from its Chief Executive Officer and Chief Financial Officer, Robert Mikkelsen.

Dear Shareholders:

First of all, I appreciate your continued support of Tego Cyber Inc. Without your ongoing interest, there wouldn't be a company. Tego is your company. Although I am a relatively new addition to the management team, I understand that I work on your behalf. My first priority is to act in your best interest, which means to protect your investment and to add significate value. I will summarize what Tego accomplished in 2023 and what is planned for 2024.

2023 Review

Last year was a development and transition year. The company continued to expand the number of integrations for its threat detection and correlation engine while redeveloping and redeploying the path-to-market strategy to monetize its technology. Commercialization has been far more challenging than any of us had anticipated due to the complexity of our application and the environments into which it integrates, but I am confident that we have improved our sales process and that the tide is turning.

Product Development - We completed and commercially launched versions of our threat detection and correlation engine for integration with Amazon Security Lake. In addition, we were the first threat intelligence provider available on the Databricks Marketplace.

Sales + Marketing - We continued to revamp and redeploy our strategy to commercialize the first version of our threat detection and correlation engine. We were able to earn our first revenue in October 2023 through one of our esteemed re-sellers.

Summary - During 2023, Tego analyzed its progress, both its successes and setbacks, and gained invaluable insight on how to monetize its technology. Although we haven't experienced the commercial success we were expecting yet, we learned from our journey, and that will provide a solid foundation on which to build, grow and thrive.

2024 to date and Outlook

I am extremely optimistic for 2024. Now that we have the path-to-market established, the focus moving forward is to build the recurring revenue base through a four-pronged approach with the goal of reaching profitability in the latter half of this year.

Product Development - In January we launched the Tego Threat Intelligence feed (Tego TI). Tego TI compiles cyber threat intelligence from a variety of sources, then analyzes, deduplicates, enriches, and delivers this data in a standardized, open-source format. Tego TI is capable of integrating with most systems and enables early detection of suspicious activities and anomalies that could indicate an imminent breach. By leveraging high-fidelity and highly contextualized threat intelligence, organizations can fortify their defenses, stay one step ahead of threat actors and protect themselves from lurking threats. The addressable market potential for this product is enormous, as any cybersecurity team using any platform can benefit from using Tego TI. We are now receiving orders for this product, with our first order coming from a leading cybersecurity software company.