BOULDER, COLORADO--(Marketwire - Feb 8, 2013) - eCrypt Technologies, Inc. (ECRY) announced today a correction to its press release issued on Monday, September 13, 2010 entitled "eCrypt Technologies, Inc (ECRY.OB) Increases Potential Market by Over 4,800%".
In the press release, the Company reported that it expanded its potential market by over 4,800% through the development of an email privacy solution compatible with all internet enabled devices, including smartphones, laptops and desktop computers. Through a subsequent review the Company identified a calculation error resulting in an overstatement of the increase. The increase in potential market share should have been reported as "over 3,800%" (3,840%), not "over 4,800%" (4,835%).
While the increase in the potential market share with the development of eCrypt Me was significant at over 3,800% in 2010, it is even greater today at over 4,400%.
"In 2010 the Radicati Group reported the total number of email users world wide to be approximately 1.8 billion. Today it is reported that number sits at over 2.1 billion. The opportunity for eCrypt Me is still considerable," commented eCrypt CEO, Brad Lever. "We wish however, that we identified our error earlier, and for this we apologize."
About eCrypt Technologies - eCrypt Technologies, Inc. is at the forefront of data security, specializing in military grade email encryption and file storage products for individuals, small business and enterprise. eCrypt empowers people and organizations with the freedom to communicate fully and openly without risk of liability, reputation damage, competitive threat and other negative outcomes. eCrypt is the trusted first choice for those looking to keep their communications confidential.
eCrypt Technologies, Inc. (ECRY)
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management''s current expectations. The economic, competitive, governmental, technological and other factors identified in the Company''s previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.