NEW YORK, April 30, 2020 (GLOBE NEWSWIRE) -- World Health Energy Holdings, Inc. (OTC PINK: WHEN), a holding company with an algae-tech business and various software technology businesses with corporate offices in Boca Raton, Florida and Ramat Gan, Israel, announced today that the Company has completed a reverse merger with SG 77, Inc. a Delaware Corporation, and RNA Ltd., an Israeli company and a wholly-owned subsidiary of SG 77. SG 77 and RNA Ltd will operate as subsidiaries of the Company. Details of the merger agreement and other relevant materials can be viewed in the Company's Current Report on Form 8-K filed on April 30, 2020.
SG 77 and RNA Ltd. are a diversified cybersecurity enterprise. RNA Ltd. is a B2C and B2B software cybersecurity company that designs, develops and markets data security software based solutions. RNA’s novel and proprietary software based solutions utilize User Behavior Analytics (UBA), which is the process of collecting data generated by software based device users through their daily activities across different networks, and leverages algorithms, statistics and probability to organize that data into logical, useful analytics reports that highlight activity significant to an organization or an individual. The combined company’s technology offerings are currently intended for parental or other legal guardian use to protect their minor children when online and for use by commercial enterprises to prevent unauthorized transfer of proprietary and confidential enterprise data.
RNA's B2C product line which incorporates a range of features enabling parents to view and manage their children’s phones. The key elements of our proprietary solutions include the following:
- Analyze all incoming and outgoing written data,
- Access to all incoming and outgoing audio communications,
- Analyze real time location tracking,
- Analyzing environmental surroundings using the mobile device's sensors, and
- Analyze online cyber activity.
According to Market Research Future, the Global Parental Control Software Market is worth $1.52 billion and is expected to expand at a 9.54% compounded annual growth rate (CAGR) during the forecast period from 2018 to 2023. North America accounted for the largest market share of 46.4% in 2017 (market value $706 million) with expected 8.63% CAGR during the coming years. Europe was the second-largest market in 2017, valued at $436.15 million (CAGR 10.23%)
The B2C Analytics product was developed tailored to variations in online behavioral patterns, whether vocally or via SMS. If there is a change in the behavior patterns, the technology is designed to immediately send the parent or adult guardian an alert. As an example, one of the identifiable indicators before suicide is social withdrawal, evidenced as a significant decrease in text message exchanges. The system categorizes this decrease in digital interaction as a red flag. Moreover, prior to suicide, there are certain words and phrases which appear that indicate a high risk and, therefore are flagged.
The commercially available B2B product line provides business organizations with protection from threats originating outside the organization but it also is designed to prevent threats to data loss or unauthorized use or transfer originating from persons within the organization. RNA's B2B technology was developed with all the capabilities of the B2C product. The key elements of the proprietary technology include the following:
- Detection, command and control,
- Special AI engine that provides real-time alerts identifying behavioral patterns and flagging potential cyber, human and organizational compromises, and
- Generate reports: B2B generates time reports helping analyze employee activity and improving employee efficiency.
Giora Rosenzweig, CEO of WHEN Group, Inc, said, "We have been working over the past few weeks to finally complete this reverse merger despite the pandemic. WHEN Group is a fully reporting public company with a new business plan in the rapidly growing cybersecurity sector. With our diversified strategy of providing robust cybersecurity solutions in both the B2B and B2C space, WHEN Group is positioned to become a robust player in the global cybersecurity marketplace.
Rosenzweig added, "The coronavirus pandemic has accelerated the trend towards telecommuting and with that shift to numerous, non-corporate computers and devices comes an increased cybersecurity threat. WHEN Group is prepared to meet that increase in demand for innovative cybersecurity solutions."
About World Health Energy Holdings, Inc. (www.worldhealthenergy.com)
World Health Energy Holdings, Inc. (WHEN) is a holding company comprised of SG 77/RNA Ltd, which develops and improves cyber security and cyber monitoring solutions in the B2C and B2B marketplace. WHEN Group develops new applications by applying pattern recognition technology based on phone and computer activity, analyzing human behavior, keywords and message history in order to automatically identify and prevent potential danger to individuals and companies. The B2C Cyber Security division targeting families concerned with external cyber threats and exposures in addition to monitoring a child's behavioral patterns that may alert parents to potential tragedies caused by cyber bullying and depression. The B2B Cybersecurity system software development and implementation company focused on innovative solutions for the constantly evolving cyber challenges of businesses, non-governmental organizations (NGO's) and governmental entities. By deploying a highly experienced development team, RNA Ltd. stays ahead of cyber threats, both internal and external threats, by identifying behavioral patterns that flag potential cyber compromises.
This press release contains forward-looking statements including statements regarding the closing of the merger and the future revenues, profits and growth following the acquisition closing. The words "believe", "may", "estimate", "continue", "anticipate", "intend", "should", "plan", "could", "target", "potential", "is likely", "will", "expect", and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to integrate the operations of the acquired entities and manage the combined entity, the success of our business plan, market reception of our products, our ability to raise the capital needed to realize our business plan, our ability to meet the challenges posed by the new coronavirus pandemic and how the pandemic will affect our ability to raise the capital needed for to realize our business plan, our ability to retain needed personnel and our ability to compete against companies with much larger resources. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission, including the current report on Form 8-K relating to the merger filed by us on April 30, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
World Health Energy Holdings, Inc.