LAS VEGAS, NV--(Marketwired - Mar 29, 2017) - Adama Technologies Corp. (OTC PINK: ADAC) provided a market update today regarding the strength and potential of their recent acquisition of SafeGuard. SafeGuard is a reseller of identity theft and data breach protection services for individuals, families and businesses and the demand for these services and products is rapidly growing. The market for identity theft protection services was estimated at $3 billion as referenced in Javelin's Ninth Annual ID Protection Services Scorecard and the year of 2016 recorded the highest overall fraud incidences on record.
Adama Technologies Corp. has been analyzing the market base for identity theft protection products and services and has establishing the long term strategy for marketing and customer engagement. To-date approximately 12% of consumers pay for an Identity Protection Subscription Service, and businesses that acquire protection is significantly less; indicating a huge untapped market. Victims of Identity theft and fraud related issues suffered more than $16 billion in direct and indirect losses in 2016 -- that's more than the combined $14 billion in losses consumers experienced from other types of theft (burglary, motor vehicle theft and other property theft) in the same period.
Adama plans to introduce a powerful solution into the market and will offer Identity Theft Protection Programs as an employee benefit to corporate clients and has already secured three corporate contracts with more than 100 employees already enrolled in the benefit program. Mark Brown, Director and Lead Executive of SafeGuard, has more than 25 years of experience in data security and management. His teams are seeing tremendous demand for Identity Theft Protection Programs especially for corporate clients. Mr. Brown commented about the strategy and opportunity surrounding SafeGuard, "Identity theft is not confined to just individuals. Criminals are getting very good at stealing business identities. The rapid rise in business identity theft now puts every business and business owner at serious risk. The Wall Street Journal has reported that 60% of businesses that suffer business identity fraud close their doors within 1 year. To combat this serious issue and protect the assets that small business owners have worked their lifetime to accumulate, SafeGuard offers affordable, effective solutions specifically designed for small to midsized businesses, to business owners."
Adama's marketing plan further stated that they intend to greatly expand product sales and client base by placing a tremendous focus on employee education through a federally mandated employee training program. Mr. Brown went on to state, "Many businesses lack the understanding of federal privacy law compliance requirements and fail to meet their obligations in securing and protecting their data. Our business and sales model provides a solution to both the corporate and individual aspects of identity theft protection and date security. As we introduce these solutions to business and they see how effective they truly are, the sales and orders are easy to secure."
The complete product layout and detailed descriptions of all of SafeGuard's products as well as additional corporate information is available on the SafeGuard website which is www.SafeGuardpii.com or you can also read more at the Adama website at www.AdamaTechnologies.com.
This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.