SAN GERONIMO, Calif., March 6, 2013 /PRNewswire/ -- Virogen Inc. (OTC Pink: VRNI), a holding company specializing in data security and encryption technology, today announced the creation of a new technical consulting division, which will be the focal point of the company's Q2 2013 strategic initiative.
Virogen's wholly-owned subsidiary, Tiger Team Technologies ("T3"), established its new technical consulting division in response to client requests for the company's high-level services on an ongoing basis. Recognizing that technical consulting services have long served as significant profit centers for many major technology companies, in some cases producing 60% or more of these companies' operating profits, T3's technical consulting services division will spearhead the company's strategic entry into this market niche. The move into this market niche will serve to enhance and support the marketing of the company's flagship business offerings.
The new consulting services division is expected to yield high margins and offer a significant growth opportunity for the company in the near term. The company expects to realize revenue streams from this operating division beginning in the 2nd quarter of 2013. Given the business model and longevity of contracts, the company expects stable and ongoing revenues and profits, while continuing to expand the consulting services business in a carefully planned, well-conceived growth model.
While T3 is fully aware that the market niche to be served is highly competitive, the strong influx of client requests for these services serves to mitigate these competitive forces, in management's view. The solidity of T3's ongoing client relationships with its enterprise level clients gives the company's management confidence in the future success of the new technical consulting division.
About Virogen, Inc.
Virogen, Inc. is a technology holding company. The company's wholly owned subsidiary, Tiger Team Technologies "T3," has developed a very unique suite of copyrighted tools to address the network and database security needs of enterprise level companies and corporations. T3's risk management offering provides an unprecedented level of security and liability protection, positioning it as the only company with a comprehensive solution to data security breaches for its clients. T3's primary markets include medical service providers, financial services firms, brokerages and currency transaction platforms, consumer credit card companies, banking entities, retailers, defense and government related operations.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.
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SOURCE Virogen Inc.