Scope Technologies Corp Stock Price, News & Analysis

Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) has announced a strategic rebranding from Scope AI, effective September 9, 2024. This change reflects the company's expansion beyond AI into broader technological domains, particularly quantum security and neural network applications. The rebranding includes the introduction of the QSE platform, a quantum-based encryption and quantum-proof cloud storage solution.

CEO James Young emphasized that while AI remains core to their business, the company is now focusing on providing advanced technological solutions across multiple industries. Scope Technologies is enhancing the QSE platform with proprietary AI neural network and visual recognition technology to optimize threat detection and data security. The company will update its online presence with new websites, including a corporate site at scopetechnologies.io.

Scope AI Corp (CSE: SCPE, OTCQB: SCPCF) has announced significant enhancements to its QSE Quantum Gateway, improving scalability and speed. Key achievements include:

• Enhanced scalability for delay-less key-generation ceremonies
• 99% latency reduction, enabling faster encryption, decryption, and data processing
• Improved global reliability and uptime

The improvements were driven by a proprietary entropy resampling engine and hardware accelerated optimizations. QSE Quantum Gateway can now handle individual requests in sub-millisecond range and millions of concurrent users per instance. The company also plans to change its name to 'Scope Technologies Corp', subject to Canadian Securities Exchange approval.

Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has appointed Grifyn McErlean, an ecosystem marketing specialist from SAP, as a Business Development Consultant. This strategic move aims to accelerate the company's market expansion and business development efforts for its QSE Technology product suite, which offers quantum-resilient distributed storage systems and data encryption solutions.

McErlean's expertise in enterprise solutions and technology adoption is expected to help Scope AI navigate complex markets, secure key partnerships, and reach a broader audience in the data security space. This appointment follows the recent global deployment of Scope AI's quantum-resilient systems and underscores the company's commitment to meeting the growing demand for enhanced encryption in the face of current and future quantum computing threats.

Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has successfully launched its QSE Quantum Gateway globally. This core module aims to provide businesses with quantum resilient entropy for enhanced security, scalability, and growth. The gateway bridges the privacy and latency gap between institutional clients and their cloud infrastructure, regardless of data center location.

The deployment has been completed across multiple countries and industries, demonstrating its versatility and robustness. Sean Prescott, Founder & CTO of Scope AI, emphasized the company's commitment to innovation and delivering value to customers. He views this launch as a significant step in redefining the Entropy as a Service landscape and addressing future challenges posed by quantum computers.

Scope AI Corp (CSE: SCPE) (OTCQB: SCPCF) has closed its acquisition of QSE Technology from Ovryde , as announced on July 9, 2024. This acquisition enables Scope to provide quantum-resilient security solutions to retail and institutional customers, addressing the growing threat posed by quantum computing to traditional encryption methods. The QSE Technology offers robust security solutions that are easily integrated into existing infrastructures.

CEO James Young highlighted that the quantum cryptography market is currently valued at $11 billion for 2024 and is projected to grow to $126 billion by 2033. This acquisition positions Scope AI at the forefront of the digital security industry, ready to capitalize on the increasing demand for advanced quantum-resilient security solutions.

Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has successfully closed its non-brokered private placement financing, raising $2,000,000 by issuing 1,250,000 common shares at $1.60 per share. The shares will be subject to resale restrictions until December 1, 2024. No finders' fees were payable for this offering.

The company plans to use the net proceeds to develop its GEM Platform and advance its quantum-resilient entropy technology product suite, as well as for general working capital purposes. This offering was not registered under the U.S. Securities Act and is not available for sale in the United States except under specific exemptions.

Scope AI Corp (CSE: SCPE, OTCQB: SCPCF, FSE: VN8) has announced significant progress in developing its GEM (General Enterprise Machine Learning) system, an AI-driven visual recognition technology for the advertising sector. Key advancements include:

1. Ad Creation using Generative AI Image Creation
2. Ad Comparison for determining optimal images and headlines
3. Ad Recommendations for campaign optimization

The company has also achieved important development milestones, including completed frontend design for Home, Login, and Signup pages, robust backend APIs, secure user authentication, and profile management features. CEO James Young emphasized that these advancements represent a major step forward in delivering state-of-the-art AI solutions for advertising technology.

Scope AI Corp. has entered into a technology agreement with Ovryde to acquire ownership and rights to their quantum-resilient entropy (QSE) technology. This advanced security measure is designed to protect data against future quantum computing threats. The Global AI in Cybersecurity Market is projected to grow significantly, from $22.1 billion in 2023 to $147.5 billion by 2033, at a CAGR of 20.8%. With this acquisition, Scope AI aims to expand its cybersecurity offerings, address emerging quantum threats, and create new revenue streams.

The QSE Technology product suite includes API-based quantum-resilient entropy as a service and encrypted cloud, on-premise, and decentralized storage solutions, ensuring robust protection for sensitive data in transit and at rest. Scope AI's payment for this acquisition includes $400,000 and 2,800,000 common shares issued to Ovryde. This deal positions Scope AI as a market leader in quantum-resilient security solutions, preparing businesses for future advancements in digital security.

Scope AI Corp. announced the acquisition of Ovryde 's quantum resilient entropy (QSE) technology to strengthen its cybersecurity offerings. This agreement, dated July 9, 2024, allows Scope AI to integrate advanced quantum security measures, providing robust protection against future quantum computing threats. The acquisition enhances Scope's product suite, facilitates faster deployment, and opens new revenue opportunities in high-security industries such as finance, healthcare, and government. It also enables clients to meet evolving regulatory standards and prepares businesses for future advancements in digital security. Overall, the move positions Scope AI as a leader in quantum-resilient security solutions and supports sustainable growth through continuous technological adaptation.