Scope Technologies acquires Cloud Codes

Mr. Ted Carefoot reports SCOPE TECHNOLOGIES ACQUIRES CLOUD CODES EXPANDING AUTHENTICATION AND STORAGE ECOSYSTEM Scope Technologies Corp. has acquired Plurilock Security Private Ltd., an Indian corporation that operates Cloud Codes, pursuant to the terms of an asset purchase agreement with Plurilock Security Inc., being a company listed TSX Venture Exchange. Cloud Codes was founded in 2011 and has a proven record in secure single sign-on (SSO) and distributed storage solutions. Highlights of the acquisition: Cloud Codes currently supports 270 business clients and 88,000 end-users. Global user base consisting of 80 per cent in India, 13 per cent in Europe and 7 per cent in the United States. Annual revenues (unaudited) of $673,012 (2025) and $723,487 (2024). Net income (unaudited) of $228,131 (2025). Cloud Codes will be rebranded under the QSE Group ecosystem. The Cloud Codes acquisition is immediately accretive to Scope Technologies as it adds revenue to the operations of Scope Technologies and the Cloud Codes' middleware will become the centrepiece of QSE's decentralized cloud backbone. Terms of transaction Under the terms of the agreement, Scope Technologies acquired Cloud Codes including any other Cloud Codes assets owned by Plurilock. In consideration of the foregoing, the company paid Plurilock $100,000 and issued a total of 4.2 million common shares to Plurilock at a deemed price of 40 cents per share. The total consideration for Cloud Codes is $1.78-million. The consideration shares are subject to a restriction on resale for a period of four months from the date of issue. Integration plans of Cloud Codes Scope Technologies plans to rebrand the Cloud Codes platform under the QSE name and prioritized for seamless integration into the QSE product stack. Future releases are expected to include quantum-secure SSO services bundled with storage offerings, targeting regulated enterprises, banking, health care and organizations requiring long-term data integrity. Over the coming months, Scope Technologies intends to provide further updates on enterprise-grade product tiers, compliance certifications and expanded features such as identity federation, MFA and cryptographic key rotation tailored for postquantum assurance. As NIST ratified quantum-resistant encryption standards (Crystals-Kyber, Dilithium, Sphincs+) in 2024 and began updating others in 2025-2026, market readiness is accelerating. Meanwhile, leading vendors are embedding postquantum cryptography into zero-trust and VPN products, highlighting the urgent need for quantum-safe identity management solutions. Scope Technologies' planned vertical ownership of both quantum-secure infrastructure and identity life cycle management would position it ahead of traditional SSO vendors and among the first enterprises offering lag-free, postquantum authentication at scale. About Scope Technologies Corp. Scope Technologies is a leader in quantum-secure infrastructure, specializing in protecting sensitive data with innovations in postquantum storage and authentication. Through QSE Group, Scope is developing solutions to meet the growing enterprise demand for cryptographic resilience. About Cloud Codes Founded in 2011, Cloud Codes has built a strong reputation for delivering secure single sign-on (SSO), identity management and distributed storage solutions for enterprises worldwide. Serving approximately 270 companies and 88,000 users across multiple industries, Cloud Codes provides scalable, high-availability platforms trusted for their flexibility, seamless integration and compliance with leading global security standards. We seek Safe Harbor.