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Computer Forensics and Information Security Firm PivX Solutions Releases Year-End Update Letter from CEO Jason Coombs


A year-end update letter to stakeholders from PivX Solutions Inc CEO Jason Coombs details the company's results for 2008 and explains the outlook and challenges for an even better 2009.

Dargaville, New Zealand, December 23, 2008 --(PR.com)-- A letter to stakeholders was distributed on December 21, 2008, by PivX Solutions CEO Jason Coombs. A copy of this letter is available in Adobe Acrobat (PDF) format by visiting the PivX Solutions website:

www.pivx.com

Excerpts appear below.

Company Letterhead

We have two simultaneous recapitalization paths:

1. Raise $11,000,000 from a group of accredited investors who believe in our large long-term vision;

2. Raise $1,000,000 from one or two investors who are satisfied with an equity position in PivX as it exists now, and who can afford to risk capital and wait patiently for a long-term turnaround to succeed.

In either case it won't be necessary for PivX to authorize additional Common Stock shares. We presently have 63,646,206 shares of Common Stock outstanding, out of 100,000,000 authorized.

In order to raise $11,000,000.00 PivX will need to price a new equity Offering above $0.30 per share.

This is achievable, considering the substantial value that the business would possess after raising this much capital. Even after deducting creditor settlement payments to resolve all of PivX's legacy debts, PivX would retain almost all of the new capital to finance its growth plan. Nearly all remaining 36,353,794 Common Stock shares which are authorized presently would be issued or committed to investors in this case. At $0.30 per share our market capitalization would be $30M.

A strong return on approximately $10,000,000.00 of capital at 20% per year would result in approximately $2,000,000.00 of profit giving PivX a recurring EBITDA annual earnings per share (EPS) around $0.02.

Just one of our trade-secret inventions represents, singularly, the potential to revolutionize access control security policy for protected computer systems, networks, services, or restrict physical access to offices or facilities that employ electronic locks such as those that require a key card for entry.

PivX has devised an additional authentication factor that has immediate impact on security worldwide, and is applicable to every authentication decision, whether automated or human-mediated.

The invention is complicated, and worthy of patent protection in a variety of forms, but it is very easy to explain. It is something PivX refers to as “Location-Based Authentication” or, in other words, deciding whether to trust other authentication factors based on the apparent location of the person whose request for access or services requires authentication.

The most commercially-significant embodiment is to determine the location of the person based on reported location of the person's location-aware (Location-Based Service) cell phone.

This requires the creation of a Network Operations Center which keeps a database correlating mobile ID with conventional authentication credentials that authentication systems or people making authentication decisions rely on to query the current geographic location of the mobile phone that is supposed to be in the possession of the person who is seeking access or service.

Organizations of all sizes, government agencies, banks, military installations, and any other facility or service provider could implement a policy relying on this additional authentication factor, immediately. The technical requirements are less of a barrier than the engineering and forensic expertise required to deploy this solution properly, cost-effectively, without adding unacceptable denial-of-service mistakes. In the future there will be patent barriers to this invention, also. PivX plans to own some of those rights.

If it becomes possible for PivX to raise $1,000,000.00 above $0.30 per share by relying on Rule 504 it will open a 3rd recapitalization path.

With or without substantial new capital in 2009, PivX is still on track to solvency and profitability as Homeland Forensics Inc.

Thank you for your continued trust and support.

Very truly yours,

Jason Coombs
Chief Executive Officer
PivX Solutions, Inc.

P.S. Please visit our two new websites:

www.forensics.org
www.computerforensics.org

###

About PivX Solutions, Inc.

PivX Solutions owns intellectual property that takes a novel approach to the problems of protecting computer systems against motivated attackers who intend to gain control over them by forcing microprocessors to execute unauthorized program code. The company today sells software and provides forensic security and expert witness services to individuals and businesses worldwide.

PivX Solutions, Inc. is quoted on the Pink Sheets under ticker symbol PIVX.

The company's headquarters is located in New Zealand and its website URL is:

http://www.pivx.com

Forward-Looking Statements

The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. PivX intends that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. These statements are qualified by important factors that could cause PivX actual results to differ materially from those reflected by the forward-looking statements.
Contact Information
PivX Solutions Inc
Jason Coombs
949-903-3368
Contact
www.pivx.com
In New Zealand dial (021) 313615

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