Containerization, virtualization, and data management solutions provider, Sphere 3D Corp. (NASDAQ:ANY), announces that it has successfully completed a Proof-of-Concept utilizing new technology.
SAN JOSE, Calif., Dec. 20, 2016 (GLOBE NEWSWIRE) — Sphere 3D Corp. (ANY), a containerization, virtualization, and data management solutions provider, today announced that it has successfully completed a Proof-of-Concept (“POC”) utilizing its Glassware 2.0™ application containerization technology in a highly secure enterprise with mission critical applications.
A combination of factors come together over time to create a mountain of technical debt within an organization’s IT infrastructure, which poses risk to the business that increases over time. The obsolescence of application technologies is difficult to anticipate, and even when efforts are made, there are common failures in the modernization of programs which leave a company exposed, including:
Supportability – a failure of an application or one of its dependencies requires resolution in a timely manner and is often unavailable;
Security – an application and its dependencies (e.g. operating system) are at risk to malware through the lack of security patching post end of life; and poses a risk to other systems on the network;
Reputation – security breaches, and the reporting of such incidents, can impact the reputation of the affected organization and negatively impact customer confidence.
Glassware 2.0 was seamlessly deployed in a highly secure environment to deliver legacy client applications that connected to an Oracle database backend and had interdependency from a number of other legacy Microsoft technologies. During the deployment, Glassware 2.0 provided the addition of Microsoft Security Essentials through a simple download from the tools available within the Glassware support site, demonstrating the ease of incorporating third party software for additional security – all within a matter of hours.
Glassware 2.0 is able to take complex multi-dependent legacy applications and move them to modernized infrastructure. Whether choosing a public, private or hybrid cloud, organization with dependency on legacy applications potentially face loss of income and productivity, and for some highly regulated sectors such as healthcare, government, utilities and financial services, potential fines from regulators.
Through patented Glassware 2.0 technology, organizations have the ability to tackle their enterprise applications that need modernizing; a market that Microsoft officials have said includes 16 million “classic” Win32, .NET and Windows Presentation Foundation (WPF) apps in existence.1
Glassware 2.0 is currently available both as an appliance as well as through Microsoft Azure. Within Azure, Glassware is available as an App Containerization Virtual Appliance that scales to 100s of users per VM and can be deployed through a consumption model in Microsoft Azure Marketplace; or as a multi VM infrastructure within Azure, for greater scale and flexibility, through a Solution Delivery Engagement with Sphere 3D, Microsoft, or a certified partner. To download an e-guide please go to: www.microsoftpartnersolutions.com/sphere-3d.
About Sphere 3D
Sphere 3D Corp. (ANY) delivers data management, and desktop and application virtualization solutions via hybrid Cloud, Cloud and on-premise implementations through its global reseller network. Sphere 3D, along with its wholly-owned subsidiaries Overland Storage and Tandberg Data, has a strong portfolio of brands including Glassware 2.0™, NEO®, RDX®, SnapCLOUD™, SnapScale®, SnapServer®, SnapSync™ and V3®. For more information, visit www.sphere3d.com. Follow us on Twitter @Sphere3D, @overlandstorage, and @tandbergdata.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to predict. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties including, without limitation, our inability to comply with the covenants in our credit facilities or to obtain additional debt or equity financing; any increase in our future cash needs; the Company’s ability to regain compliance with the minimum bid price requirement of the NASDAQ Global Market; the Company’s ability to transfer the listing of its common stock to the NASDAQ Capital Market if it is not able to regain compliance with the NASDAQ Global Market listing standards and its ability to maintain listing with such market; unforeseen changes in the course of Sphere 3D’s business or the business of its wholly-owned subsidiaries, including, without limitation, Overland Storage and Tandberg Data; market adoption and performance of our products; the level of success of our collaborations and business partnerships; possible actions by customers, partners, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in Sphere 3D’s periodic reports contained in our Annual Information Form and other filings with Canadian securities regulators (www.sedar.com) and in prior periodic reports filed with the United States Securities and Exchange Commission (www.sec.gov). Sphere 3D undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
Sphere 3D Corp. (NASDAQ:ANY) shares are trading +75.00% on the news and in the range of $0.20 – 0.44 during the current trading session. When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock. Sell-side research firms on Wall Street currently have a consensus one-year price target of $1.25 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call.
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Sell-side analysts are projecting earnings per share of $-0.16 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-0.71 per share according to First Call.
In looking at where the stock is trading on a technical level, the stock is trading -36.99% away from its 50-day moving average of $0.56. Based on the most recent available data, the equity is -82.50% off of its 52-week high of $2.00 and +94.44% away from its 52-week low which is $0.18.
Today, the stock opened at $0.21 and the last bid at the time of writing stood at $0.35. During the session thus far, the equity dipped down to $0.20 and touched $0.44 as the high point. Sphere 3D Corp. (NASDAQ:ANY) has a market cap of $18.16M and has seen an average daily volume of 574,197 over the past three months.
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Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.