Vancouver, British Columbia--(Newsfile Corp. - April 26, 2021) - Oculus VisionTech Inc. (TSXV: OVT) (OTCQB: OVTZ) (FSE: USF1), an emerging data compliance innovator, through its brand, ComplyTrustTM, today announced general availability of "Forget-Me-Yes™" (FMY) a data privacy solution. General Availability status allows Oculus through its brand ComplyTrust™ to emerge from a pre-revenue company to a company actively marketing and selling its services.
"Forget-Me-Yes™" (FMY) is ComplyTrust's Software-as-a-Service application for organizational and individual Right-to-be-Forgotten (RtbF) and Right-of-Erase (RoE) data privacy compliance. The Forget-Me-Yes™" Zero-Knowledge platform provides single-source capability of continuous compliance by incorporating automated policy-driven re-query services that guarantees a Data Subject's requested RtbF/RoE data remains 'forgotten' over the life of their FMY subscription.
Forget-Me-Yes™'s B2B cloud-native microservice and infrastructure-agnostic architecture, is now available on a monthly subscription-basis for Salesforce organizations, supporting both structured and unstructured data queries. According to Gartner's 2020 Hype Cycle for Legal and Compliance Technologies, the average cost to manually process a Data Subject Access Request (DSAR) is $1,406.00. Forget-Me-Yes™ is cost-effective insurance to ensure DSAR deletion-request compliance for Brazil's LGPD, California's CCPA/CPRA, Europe's GDPR, Nevada's SB220 and Virginia's CDPA data privacy legislation.
Matt Leib of International Data Corporation (IDC) says "Today's world and changing laws along the lines of the European GDPR mean that we have control over whether our information is even held within an organization's environment. Our right to remove this data is ensured by GDPR, as well as newer iterations of this regulation across the world. Placing that request obligates the organization to remove it. However, there are methods by which that data can creep back in. Oculus VisionTech's Forget-Me-YesTM platform ensures the organization not only removes all traces, but consistently monitors the dataset such that should this data creep back in, it will once again be removed. In this way an organization can not only comply with the regulation, but remain in compliance."
"We are pleased to announce the Forget-Me-Yes™ product launch initially under the global AWS cloud infrastructure, providing our B2B customers with an elastic, resilient, scalable and secure platform for CCPA, CDPA, GDPR, LGPD and SB220 data subject privacy compliance management", said Michael Johnson, President and co-founder at ComplyTrust.
"The Forget-Me-Yes™ data privacy platform is both a cost-effective and innovative solution that equally protects data subjects, data collectors and data stewards alike in the worldwide data privacy compliance landscape", added Rowland Perkins, CEO and President at Oculus VisionTech.
To more information and to request a Forget-Me-YesTM demonstration, please visit https://complytrust.com/ today.
About Oculus VisionTech
Oculus VisionTech Inc. (OVT), www.ovtz.com, is a development-stage technology company focused on cyber security and data privacy compliance solutions for Enterprise business customers. With offices in San Diego, California and Vancouver, British Columbia, the company is currently expanding its' new ComplyTrustTM, www.complytrust.com, product suite which includes the ComplyScan cloud backup reporting tool and Forget-Me-YesTM B2B data privacy Software-as-a-Service (SaaS) platform, optimizing CCPA, CDPA, GDPR, LGPD, SB220 and other regulatory compliance legislation for Salesforce organizations worldwide. OVTZ's legacy Cloud-DPS digital content protection solution implements invisible forensic watermarking technology that seamlessly embeds imperceptible tracking components into documents and video-frame content that enables tamper-proof legal auditability for intellectual property protection.
Learn more about Oculus at www.ovtz.com or follow us on Twitter (https://twitter.com/OculusVT) or Facebook (https://www.facebook.com/OculusVisiontech/).
About ComplyTrustTM
ComplyTrust Inc. https://complytrust.com/, a 100% wholly-owned subsidiary of Oculus VisionTech, is specifically focused on providing enterprise organizations and individuals with secure data privacy tools that provide sustained and continuous global regulatory compliance of data subject rights. Headquartered in San Diego, California, ComplyTrust was founded by industry veteran storage technology experts and is operated by an experienced management team.
Learn more about ComplyTrust at https://complytrust.com/.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit https://www.idc.com/. Follow IDC on Twitter at @IDC and LinkedIn.
About Gartner
Gartner, Inc. is the world's leading research and advisory company and a member of the S&P 500. Gartner equips business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow.
Gartner's unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. Gartner is a trusted advisor and an objective resource for more than 14,000 enterprises in more than 100 countries - across all major functions, in every industry and enterprise size.To learn more about how Gartner helps decision makers fuel the future of business, visit gartner.com.
For further information, contact:
Anton Drescher
Telephone: (604) 685-1017
Fax: (604) 685-5777
Website: http://ovtz.com/
TSXV : https://tmxmatrix.com/company/OVT
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Berlin Borse: https://www.boerse-berlin.com/index.php/Shares?isin=US67575Y1091
Frankfurt Borse: https://www.boerse-frankfurt.de/equity/oculus-visiontech
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and information within the meaning of applicable securities laws (collectively, "forward-looking statements"), including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, statements as to the intended uses of the proceeds received from the Offering. Often, but not always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "schedules", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to, among others, the change of business focus of the management of Oculus, the inability of Oculus to pursue its current business objectives, the ability of the Company to obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including TSXV final acceptance of the Offering and any planned future activities, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company's industry, may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and Oculus assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although Oculus believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate.
Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Oculus' periodic reports filed from time-to-time with the United States Securities Exchange Commission and Canadian securities regulators. These reports and Oculus' public filings are available at www.sec.gov in the United States and www.sedar.com in Canada.
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