PARK RIDGE, Ill., Feb. 27, 2015 (GLOBE NEWSWIRE) -- WHAM Inc. (OTC:WFMC) and its new Mobile Communications Division is targeting the rapidly growing Mobile Communications Market and the need for secure communication. Showing a firm commitment to this new market, several important achievements have already been announced:
- 2014, Dec 8 – WHAM announced the signing of a Letter of Intent to purchase an interest in UPONUS Technologies LLC of Wilmette, IL with an option to negotiate for the rights to license their patented encrypted mobile communications technology for the consumer marketplace
- 2015, Jan 14 – WHAM announced the completion of its investment with UPONUS Technologies LLC
- 2015, Feb 18 – WHAM announced the signing an exclusive Licensing Agreement with UPONUS Technologies LLC giving WHAM exclusive rights to sell a customized secure mobile communications application within the US Consumer and Small Business Markets built on UPONUS' patented encrypted mobile communications technology
Further showing WHAM's commitment to this market, other critical current activity is worth mentioning:
- S-1 registration is in process (WHAM is refraining from releasing any new information on the S-1)
- IT infrastructure for dedicated Secure Mobile Communication Environment to support millions of subscribers is being finalized
- Consumer-specific application modifications and functionality reviews are accelerating
What will WHAM's Secure Mobile Communications Application Do?
WHAM's first mobile communications application is code-named the "WHAM Secure Mobile Application," or "WSMA" for short. Using WSMA on your smartphone will protect your privacy by encrypting all voice and text communications as well as file transfers. (File transfers can include any file type such as: documents, pictures, audio, and videos.) WSMA also features App Lock and App Delete functions should your device be compromised. The bottom line is – ALL calls, ALL texts, and ALL files transferred within WSMA by subscribers are encrypted and are kept completely private and secure.
What Makes WSMA Superior Than the Competition?
All mobile communications applications are NOT created equal because all encryption methods are not created equal! Some apps are not designed for privacy and some do not use encryption at all. In fact, some openly collect your information. Others use encryption methods that are susceptible to privacy breaches because the encryption keys can be stolen or the encryption can be easily decrypted. WSMA is superior because the technology is not susceptible to any form of known attacks, such as linear or differential attacks, man-in-the-middle attacks, and theft of keys. WSMA is superior because even if someone could track all the data coming to and from your smartphone, they could only access data OUTSIDE of WSMA – all WSMA contacts, calls, texts, attachments, and other data are kept completely private and secure.
WSMA offers superior secure mobile communications using a level of encryption that is patented and light-years ahead of the competition. As soon as it launches, WSMA will instantly be considered "best in class" and the most secure consumer mobile communications application in the world!
How Does WSMA Use Patented Encryption to Provide Best in Class Secure Mobile Communications?
WSMA does not store keys and keys are used only once on a single packet and then discarded, never to be used again. In fact, WSMA doesn't even share keys with others within its Secure Mobile Communication Environment. On a typical WSMA call – using patented technology – over 100 unique different keys are used during each second of the phone call, one for each of the 50 voice packets from the sender and one for each of the 50 voice packets from the receiver talking back. While our competitors may offer one new secret key for each new call, WSMA uses nearly 6000 unique random keys every minute (100 keys X 60 seconds). WSMA also uses a different unique random secret key on every text and every attachment.
Why enter the Mobile Communications Market?
Several factors have contributed to WHAM's decision to enter this market. First, mobile devices in the form of smartphones, tablets, and other mobile devices are already everywhere and they are still increasing in popularity. Total smartphone subscriptions reached 1.9 billion in 2013 and are expected to grow to 5.6 billion in 2019. Second, the same sources forecasting the future increases in mobile devices are likewise forecasting that the mobile security technology market will hit $2.9 billion by 2017 and grow to $4.82 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period 2014-2019. Third, consumer privacy concerns multiply with each newsflash about another security breach or spying scandal. Fourth, the increasing reliance on mobile devices for the vast majority of daily communications (voice, text, file transfers) and for safekeeping of important personal information/files – ALL OF WHICH WE EXPECT TO BE KEPT PRIVATE AND SECURE! Understanding the implications of these factors, WHAM decided to enter the Mobile Communications Market to serve consumers' secure mobile communications needs.
Woodman Holdings Asset Management Inc. (WHAM Inc.) is a diversified holdings company established for the purpose of investing in and/or acquiring businesses and distressed asset classes. We operate in six business areas: Investments, Mobile Gaming, Proprietary Trading, Apparel, Fine Art, and Secure Mobile Encryption Technology. The company acquires businesses through mergers, stock exchanges, asset acquisitions, or reorganization. We explore innovative financial solutions in order to facilitate global investments for wealth creation and life quality enhancement. We also provide connectivity between the capital markets and knowledge driven investors, profiteering from yielding investments. The operating principles that guide our organization, our conduct, and our relationships are simple and are designed to create a different type of company, which honors God and people. The company has a disciplined approach to its actions and investments.
This Press Release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the company's current expectations as to future events; however, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.