Attila Resources Limited
(ASX:AYA) has completed due diligence in connection to its proposed earn-in to cyber security technology VeroGuard Systems.
Deal terms with SecurET and Point of Pay Limited are in the process of being finalized and Attila is in discussions with the ASX regarding an appropriate structure.
Point of Pay has a collaboration and licensing agreement with the CSIRO to develop a secure cloud storage system based on the VeroGuard system.
Attila has cautioned investors that it is not party to a legally binding acquisition agreement and there is no certainty any agreement will be reached.
Attila Resources Limited reported a net loss of $1.9 million at 31 December 2015
