Skkynet Cloud Systems, Inc. (OTC: SKKY)

Skkynet Cloud Systems, Inc. operates as an industrial software and services vendor, specializing in secure connectivity and data acquisition for a wide range of industrial and office hardware and software products. The company is headquartered in Mississauga, Canada, and operates through its wholly-owned subsidiaries, including Cogent Real-Time Systems, Inc. Skkynet's core focus is on enhancing Cogent's existing business lines through the integration of cloud-based systems, delivering a Software-as-a-Service (SaaS) product targeting the Industrial Internet of Things (IoT) market, often referred to as Industry 4.0. The company's solutions are designed to address the data transmission problems of data rate, latency, redundancy, and security in cloud-based systems, utilizing a unique push-pull system that insulates both plant and remote user from opening their firewalls to the Internet.

Skkynet generates revenue through a variety of sources, including software licensing for industrial automation systems, software licensing for OEM customers, software support program renewals, legacy installation support, custom integration and development, monthly support revenue from financial clients, and SaaS revenue from the Cogent DataHub service for Microsoft Azure. The company's primary products include the Cogent DataHub service for Microsoft Azure, which is compatible with existing Cogent DataHub and Embedded Toolkit (ETK) software. This service offers features such as real-time graphical web display of data, connection to data from OPC, DDE, and Modbus servers, connection to data from MQTT clients, data mirroring, data logging, data bridging interface, historical data provision within various platforms, data redundancy features, and network system monitoring. The company's customer base is diverse, spanning industries such as aerospace, automation and control, chemicals, communications, education, engineering, energy and utilities, financial services, food and beverage, government and municipal, healthcare and pharmaceutical, instrumentation, manufacturing, natural resources, and system integrators.

• Industrial Automation: Skkynet's industrial automation segment focuses on providing secure connectivity and data acquisition for industrial hardware and software products. The company's Cogent DataHub service for Microsoft Azure is a key product in this segment, offering real-time remote monitoring, control, and data logging. This service is designed to address the data transmission problems of data rate, latency, redundancy, and security in cloud-based systems, utilizing a unique push-pull system that insulates both plant and remote user from opening their firewalls to the Internet. The segment caters to a wide range of industries, including manufacturing, energy, and utilities.

• Financial Services: Skkynet also provides solutions for the financial services industry, offering software and related systems to collect process and distribute real-time information over networks. This capability allows customers to manage, supervise, and control financial information systems. The company's products are designed to provide the power to analyze, change, and control local and remote systems to meet regulatory requirements and exceed target objectives.

Skkynet Cloud Systems, Inc. operates in a competitive landscape, facing competition from several vendors who offer products similar to theirs in the industrial automation space. Key competitors include Siemens, ABB, Emerson Process Management, Rockwell Automation, Honeywell Process Solutions, Schneider Electric, GE Invensys, and PTC. These companies have resources and revenues larger than Skkynet's, but the company's software is compatible with their products, making it common for a customer to install software from both Skkynet and its competition in the same system. Skkynet's competitive advantages include its patented and patent-pending technologies that address data transmission problems in cloud-based systems, its unique push-pull system, and its ability to provide secure, real-time industrial data pipelines that industrial AI demands.

Skkynet's customer base is diverse and spans multiple industries. The company has provided its products and services to more than 3,000 customers across various sectors, including aerospace, automation and control, chemicals, communications, education, engineering, energy and utilities, financial services, food and beverage, government and municipal, healthcare and pharmaceutical, instrumentation, manufacturing, natural resources, and system integrators. The company's customers include large enterprises that require the ability to safely share information on operations with third parties, such as suppliers or contract manufacturers, and to access this data for Artificial Intelligence (AI) applications. Skkynet's solutions are designed to address the specific needs of these customers, providing them with the tools to observe and interact with their processes in real-time.