Mark Gray, Chairman and CEO of Cybergy Partners, Inc., a subsidiary of Cybergy Holdings, Inc. (OTCQB:CYBG), was an invited speaker at the 9 th Annual Southeast Venture Conference (SEVC) held last week in Charlotte, N.C. In his presentation, Mr. Gray discussed the company's major achievements since 2012 in developing its cybersecurity technologies for commercial use and leveraging that success to strategically expand its business activities into the realm of federal contracting. It was three years ago at the same forum when Cybergy Partners publicly introduced its proprietary SmartFile technology to ensure the cybersecurity of electronic documents. Over 37,000 users signed up to participate in the beta phase of SmartFile in the first seven weeks. Mr. Gray noted that while SmartFile was intended to address document security issues, these beta users quickly found new and innovative ways to use the software, such as work flow management applications and sales professionals trying to understand their customers' buying preferences. Other users were interested in document intelligence to ensure that copyrighted, sensitive, or otherwise confidential information was being properly distributed and safeguarded. He recounted the three key lessons learned from this initial testing: concerns over protecting privacy; a simplified pricing structure (one price, unlimited usage); and ease-of-use ("set it and forget it" technology). Each of these required their own specific solutions and strategies that the company has undertaken. Building on this initial beta user success and interest, Cybergy Partners examined additional markets and applications for SmartFile. The Federal Government offered an addressable market in which to build an initial defensible business model that could also provide a test-bed for addressing these critical issues, particularly the question of privacy. As part of this strategy, Cybergy Partners acquired New West Technologies, a successful management consulting company providing specialized solutions in clean energy and smart grid applications for government and private sector clients.
The combination of SmartFile and strategic entrance into the world of federal contracting have produced impressive results. Cybergy Partners saw a 140% increase in contract sales in 2014 versus 2013 with audited revenues of $32 million. Cybergy Holdings now has 31 current active contracts worth a total of $33.2 million. Based on just these numbers, the company expects to see revenue double in 2015 to about $70 million. This does not include other recent contract wins including a large, multi-purpose IDIQ award with the U.S. Department of Health and Human Services (HHS) for technical, analytical, and support services.Looking ahead, Mr. Gray said the company is well positioned for growth in cybersecurity and energy, particularly in the area of smart grid technologies and the growing use of SCADA (machine-to-machine) communications. Further brightening Cybergy Partners' outlook are other moves undertaken in 2014 such as the creation of Primetrix, LLC, a back-offices support company providing government contracting and bid proposal work for third party companies, and the acquisition of Cybergy Labs to partner with technology-focused venture capital firms. Video of Mr. Gray's SEVC presentation is available on the Cybergy Partners' website at http://ir.cybergypartners.com/presentations/view/34/sevc-2015. About Cybergy Holdings, Inc. Cybergy Holdings, Inc., is a national leader in cybersecurity, smart grid technologies, renewable energy, and mission-oriented government services. Headquartered in Englewood, Colorado, Cybergy Holdings' team of approximately 100 employees delivers innovative technical and management services through its 3 divisions: Cybergy Labs, an award-winning developer of specialized cybersecurity software applications, including SmartFile; New West Technologies, which was founded in 1996 and provides clean, smart, and reliable energy solutions and is a 5 time winner of the Inc. 500/5000 fastest growing private companies in America; and Primetrix, which serves U.S. Federal Government contractor firms with contract procurement, compliance, and growth services. For more information, please visit www.cybergypartners.com