Namesilo delivers $560,000 pipe inspection float

Executive Summary

• Namesilo Technologies Corp.'s subsidiary, SewerVUE Technology Corp., completed the manufacture, sale, and delivery of its newest-version multisensor pipe inspection float for approximately $560,000 to a major multinational environmental service and utility company.
• The company also announced that its subsidiary, Namesilo LLC, implemented an upgraded security policy following a recent security breach involving unauthorized name server changes, which the company deems immaterial to operating results.

Key Details

• Transaction Value: Approximately $560,000.
• Product Sold: Newest-version multisensor pipe inspection float.
• Buyer: One of the world's largest multinational environmental service and utility companies.
• Technology Details: SewerVUE utilizes innovations such as pipe-penetrating radar, lidar, sonar, and HD-CCTV to provide data for rehabilitating critical linear infrastructure.
• Security Incident: Namesilo LLC experienced a security breach resulting in unauthorized changes to a customer's name server.
• Remediation: Namesilo LLC implemented an upgraded security policy to protect against unauthorized name server changes and rectified the breach.
• Financial Impact of Breach: Viewed as immaterial to operating results.

Notable Quotes

• "This is an exciting time for the company. With an expanding track record of high-profile customers and access to capital, SewerVUE is well positioned to expand market share." — Nick Goertz, Chief Executive Officer, SewerVUE