eCrypt Technologies, Inc. announced today a correction to its press release issued on Monday, September 13, 2010 entitled “eCrypt Technologies, Inc (ECRY.OB) Increases Potential Market by Over 4,800%”.
In the press release, the Company reported that it expanded its potential market by over 4,800% through the development of an email privacy solution compatible with all internet enabled devices, including smartphones, laptops and desktop computers. Through a subsequent review the Company identified a calculation error resulting in an overstatement of the increase. The increase in potential market share should have been reported as “over 3,800%” (3,840%), not “over 4,800%” (4,835%).
While the increase in the potential market share with the development of eCrypt Me was significant at over 3,800% in 2010, it is even greater today at over 4,400%.
“In 2010 the Radicati Group reported the total number of email users world wide to be approximately 1.8 billion. Today it is reported that number sits at over 2.1 billion. The opportunity for eCrypt Me is still considerable,” commented eCrypt CEO, Brad Lever. “We wish however, that we identified our error earlier, and for this we apologize.”
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