$CISO: Investors Are Still Pricing CheckLight Like Antivirus

What they’re missing is a first-loss cyber warranty with insurance-level protection and a distribution model built for scale.

If you have been following CISO since my first article at the end of March, you are probably pretty happy to have more than doubled your money. Since then, we have been as low as 35 cents and as high as $1.70. . Based on public float estimates, over 90% of the shares appear to be locked up, and the company has made real progress.

I know there’s been frustration over the past few weeks, and I’ve heard from many of you directly. So today, I’m restating the thesis, pounding the table a bit, and explaining why I still believe this story has massive potential. Yes, we may barcode for a bit, but major catalysts are approaching that could push this much higher.

Restating the Thesis

CISO Global already has a growing and profitable core business:

Q4 2024: First quarter of EBITDA profitability
2025 guidance: $34 million in recurring cybersecurity services revenue
$5 million in high-margin CheckLight software bookings expected in 2025
Software margins exceed 80%; services show 93% client retention

Valuation disconnect:
Trading at ~1x revenue
Cybersecurity peers trade at 7x–20x revenue

CISO has spent two years paying down debt, cleaning up its share structure, and transforming from a pure services company into a hybrid security + software model.

"We’re now a software company with a cybersecurity services business - not the other way around." — CEO David Jemmett

Right now, retail activity is quiet because we’re at a natural pause: most holders are full, shorts are constrained by the Nasdaq SHO list, and insiders have been in a blackout. But catalysts are lining up:
- CUSIP change: A corporate action could trigger share recalls and eliminate synthetic positions
- Insider buying: Once out of blackout, insiders may begin buying. They’ve never sold.
- Institutional access: Buying may begin at $2, and ramp at $5

The Chart That Tells the Story

The table above, created by 5M Consulting (not affiliated with CISO), models potential revenue based on endpoint penetration and pricing. Even modest adoption implies a much higher valuation than current levels.

In this article: Interview + Deep Dive on CheckLight

Watch the interview here:

Rethinking Cybersecurity as a First-Payer Financial Protection Model

The Market Still Doesn’t Understand What CISO Just Launched

CISO Global (NASDAQ: CISO) recently introduced a cybersecurity platform that does more than detect threats. CheckLight creates a continuous record of digital hygiene, includes a built-in $1.5 million warranty, and is distributed by financial advisors and insurance brokers…. not IT consultants.

What Makes CheckLight Different

While it functions like an endpoint detection system, CheckLight’s true value lies in its ability to support financial risk transfer. It not only monitors for threats, but it also enables insurers to confidently offer protection - and pays first if something slips through.

Each client receives up to $1.5 million in financial coverage, including:

• Business interruption

• Data loss

• Ransom payments

• Third-party liability

“If we don’t notify you and something gets through, we cover it,” said Hegedus. “We have about 100 million hours of runtime and zero breaches.”

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Reaching the Underserved

CheckLight was built to serve the 93% of North American small businesses that currently lack cyber insurance. Many of these businesses rely on just a handful of devices and have no dedicated IT support.

In one field deployment with a major U.S. religious institution, CheckLight was rolled out across 200+ individual entities - churches, schools, and elder care centers. These groups had previously been losing $500,000 to $750,000 per year to breach-related events. With CheckLight installed, those losses dropped to zero within 12 months.

“Each one of these locations runs like a small business,” Hegedus explained. “Most had no IT support. CheckLight had to be dead simple - and it worked.”

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For Families, It Fills a Critical Gap

Families face the same digital threats as businesses but have almost no protection in place. From online banking to telehealth to shared devices, households today are exposed - and uninsured.

CheckLight extends enterprise-level threat detection and underwritten financial coverage directly to the home. It runs in the background, alerts users to threats, and provides weekly status updates.

“Ask any family how much cyber financial protection they have,” Hegedus said. “Almost always, the answer is zero. But the risks are already inside the home.”

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Why Insurance Advisors Are the Right Channel

Instead of relying on traditional IT channels, CISO is distributing CheckLight through trusted insurance advisors. This mirrors how products like life, disability, and long-term care insurance are sold - via professionals who already help clients manage risk.

Most small businesses and families don’t speak cybersecurity. But they do understand financial loss. And they already trust their advisors to protect income, savings, and property.

“People trust three professionals above all… their accountant, their lawyer, and their insurance broker,” Hegedus said. “If you can put protection in the hands of those channels, adoption becomes much easier.”

This model bypasses IT gatekeepers and puts CheckLight in the hands of those who understand balance sheet risk. It’s presented not as a software upgrade, but as a financial protection product that also delivers real-time monitoring.

Through the new partnership with Financial Independence Group (FIG), CheckLight is now being embedded in the daily workflow of thousands of agents across the country.

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The Shelf Filing: What Investors Misread

Just as the FIG partnership was announced, CISO filed a reduced $100 million shelf registration, a regulatory step to maintain Nasdaq compliance. The original shelf had been $300 million, and the company also cut its ATM facility to just $10 million.

There was no new dilution and no intent to raise capital immediately. But without a press release at the time of filing, the market filled in the blanks.

The stock, which had traded as high as $1.37, dipped to a low of $1.05, not because of any change in fundamentals, but due to a lack of context. (It has since rebounded to $1.17 in after-hours trading. A far cry from $0.35, but still not aligned with recent developments.)

This is a common challenge for small public companies. Regulatory filings often hit EDGAR before a press release can be cleared. Legal, banking, and timing constraints can force management to play catch-up.

CISO issued a follow-up press release the next day…. but by then, the narrative had shifted.

CISO Share Price with Fib Extensions & Shelf Reaction

How It Stands Apart from the Crowd

CheckLight’s core technology has been benchmarked alongside names like CrowdStrike and SentinelOne. Independent third-party testing has shown that its detection capability is on par with industry leaders, with minimal system impact.

But the differentiation comes from what happens after deployment. Unlike most competitors, CheckLight offers financial protection directly to the client - and does so without requiring the purchase of hundreds of licenses.

This is more than a security upgrade. It is a pricing model transformation.

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Investor Perspective: What to Watch

CISO’s true opportunity lies in scaling endpoint adoption. The market of uninsured SMBs is estimated at 30 million entities. A modest 3 percent penetration, with five endpoints per client, could generate over 99 million in recurring revenue to the company a sharp contrast to the company’s current market capitalization of roughly $40 million.

Final Word

Cybersecurity spending reached $280 billion last year, yet global cybercrime inflicted an estimated $10.5 trillion in damage. The problem is not a lack of tools – it is the gap between risk exposure and financial protection.

CheckLight aims to close that gap.

“We built this to democratize cybersecurity,” said Hegedus. “This is how you protect people who have never had access before - and you do it through the systems they already trust.”

The software does its job quietly. The value is measurable. The model is scalable.

Investors may still be pricing this as an endpoint software play. That framing could change quickly once distribution gains traction.

Personally, I believe $CISO is worth $5 based on its current model alone and much more when SaaS revenue ramps. This is not financial advice…. just my perspective. I’m holding happily.

I appreciated the projection and investor information provided by 5M Consulting so much that I put the entire thing at the bottom of this article. But if you want to download it, you can find the complete report can be found at CISO-5MConsulting - Stocktok.org as a reminder, he is not affiliated with CISO and they had no input on these numbers