Railtown AI Achieves SOC 2 Type II Compliance Certification
Rhea-AI Summary
Railtown AI Technologies (CSE: RAIL) (OTCQB: RLAIF) has achieved SOC 2 Type II certification following an independent audit by the American Institute of Certified Public Accountants (AICPA). The certification validates the company's internal controls and policies for handling customer data across five trust service criteria: security, availability, processing integrity, confidentiality, and privacy.
The company expects this certification to build customer trust, reduce sales friction, provide access to larger markets, and enhance brand reputation. Additionally, Railtown has granted 2,800,000 incentive stock options to employees, directors, officers, and consultants at $0.50 per share, expiring November 22, 2029.
Positive
- Achieved SOC 2 Type II certification, enhancing data security credibility
- Certification expected to expand market access and reduce sales friction
Negative
- Potential dilution from 2,800,000 new stock options granted at $0.50 per share
News Market Reaction 1 Alert
On the day this news was published, RLAIF declined 3.93%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown AI'', "Railtown" or the "Company") is proud to announce that it has achieved SOC 2 Type II certification, underscoring its dedication to data security, privacy, and compliance. This certification was awarded following an independent audit that validated the company's adherence to the strict standards established by the American Institute of Certified Public Accountants (AICPA).
The SOC 2 Type II audit evaluated Railtown's internal controls and policies for handling customer data based on five trust service criteria: security, availability, processing integrity, confidentiality, and privacy. Achieving SOC 2 certification reflects Railtown's proactive approach to protecting sensitive information and building customer trust.
"We are thrilled to receive this certification, which reinforces our commitment to safeguarding our client's data with the highest level of security and compliance practices," said Cory Brandolini, CEO at Railtown AI. "Our team has worked diligently to meet these standards, which are a testament to the hard work and dedication of everyone at Railtown in delivering secure and reliable services."
With SOC 2 Type II certification, Railtown enhances its position as a trusted partner to its clients by ensuring that all operational controls are designed to maintain data integrity and security at all times. The company is committed to continuous improvements and will maintain rigorous compliance protocols to meet the evolving needs of the industries it serves. SOC 2 Type II certification will build trust with Railtown's customers, reduce sales friction, provide access to larger markets, and enhance our brand reputation.
Option Grants
The company also announces that it has granted 2,800,000 incentive stock options to employees, directors, officers, and consultants. The incentive stock options have an exercise price of
The Company's Stock Option Plan allows for the issuance of up to
About Railtown AI Technologies
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ Platform called Conductor. Artificial intelligence and automation that performs tasks as well as streamlining, enhancing, and accelerating Developer Productivity Engineering (DPE) through Speed, Quality, Automation and Best Practices which are the cornerstones and foundation of the Conductor platform.
We purposely built the Conductor platform to help Software Companies and Software Developers save time on redundant tasks, improve productivity, drive down costs, and accelerate developer velocity. Railtown's proprietary AI technology, designed to enable our clients to be more productive and profitable, is accessible on Microsoft's Azure Marketplace.
Follow us on social media:
- Twitter: https://twitter.com/railtown_ai
- LinkedIn: https://www.linkedin.com/company/railtown-ai/
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ON BEHALF OF THE BOARD
"Cory Brandolini"
Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca Kerswell
Investor Relations
Email : investors@railtown.ai
Phone : 1-604-417-4440
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, the commencement of trading of the Company's common shares on the CSE, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.
Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231000
FAQ
What certification did Railtown AI (RLAIF) achieve in November 2023?
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