MGT Capital Provides Recap of Mr. McAfee's Recent Keynote Addresses and Industry Outlook
HARRISON, N.Y., May 16, 2016 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) reported today a cybersecurity industry outlook provided by John McAfee, the Company's proposed Executive Chairman and Chief Executive Officer. In conjunction with his appointment, MGT also recently announced the acquisition of certain technology and assets from D-Vasive, Inc., a provider of leading edge anti-spy software. The Company has also entered into a consulting agreement with Future Tense Secure Systems, Inc., a technology incubator with investments in other privacy and security applications, and an ownership interest in a technology incubator, Round House LLC.
In the past week, Mr. McAfee provided the keynote speeches at the Rocky Mountain Information Security Conference in Denver and at the Hack Miami Conference. "On a global level, people everywhere have become truly dependent on technology more so than anything else in the last 100 years. As this dependency increases so does the threat of vulnerability. It's something that I've seen in small business and in world governments. Through my new company, John McAfee Global Technologies (MGT) we are going to work vigorously on finding vulnerabilities in every avenue possible." (As previously disclosed, MGT Capital intends to change its corporate name to John McAfee Global Technologies, Inc. upon closing of the transaction.)
Mr. McAfee took the stage at the Hack Miami Conference with Eric "Eijah" Anderson, the founder and creator of Demonsaw, a decentralized cross platform information sharing application. Mr. Anderson, formerly a lead developer with Rock Star Games and American Express, introduced the Android version of his highly acclaimed software platform. Demonsaw is secure, anonymous and free, with end to end encryption without utilizing client P2P. Demonsaw, LLC is one of the cybersecurity focused companies in Mr. McAfee's Future Tense portfolio.
"I am truly committed to MGT and the technology company pipeline within Round House and Future Tense as the natural continuation of my life's work. Cybersecurity and privacy are important extensions of people's freedom, and I plan to make this Company into the world powerhouse in the field," McAfee said in a statement on his Twitter feed.
About MGT Capital Investments, Inc.
MGT and its subsidiaries are principally engaged in the business of acquiring, developing and monetizing intellectual property assets. MGT's portfolio currently includes social casino and gaming platforms, and ownership stakes in DraftDay.com, a top daily fantasy sports wagering platform and DraftDay Fantasy Sports, Inc. operator of an online entertainment marketing and rewards platform.
MGT also recently announced the acquisition of certain technology and assets from D-Vasive Inc., a provider of leading edge anti-spy software. In conjunction with the acquisition, The Company also announced the proposed appointment of John McAfee as Executive Chairman and Chief Executive Officer. Further, MGT Capital also intends to change its corporate name to John McAfee Global Technologies, Inc. Closing of the acquisition is contingent on customary conditions including approval by MGT's stockholders.
This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward–looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward–looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.
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SOURCE MGT Capital Investments, Inc.