Polaris IT Group SA announces that Gábor Kósa will be the Chairman of the Board of Directors of the company from February 1, 2021. The aim of the new Chairman, who is also the main owner of the company, is to expand the company, open to new markets and develop its operations in Poland. It is planned to build an operative management of the company and all professional competences necessary for successful operation. Lóránt Tókos will continue to participate in the activities of the company, supporting the work of the new Chairman.

Professional CV of Mr. Gábor Kósa

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As a result of the decision, I have the honour to welcome iSRV Zrt. to the company group, hoping to achieve joint success on the international market.

Tókos Lóránt

Please find the introduction of Kósa Gábor, the CEO of iSRV Zrt. below:

“I hereby wish to greet the shareholders of Polaris IT Group SA, my fellow shareholders! Please let me introduce the activities and objectives of iSRV Zrt. During the past eight years, since the establishment of the company, we have been dedicated to innovative technologies and the development of hardware and software solutions. Generally speaking, we have a high level of expertise in special fields. These fields include cryptographic solutions with custom-designed hardware (FPGA, ASIC) and biometric security elements, artificial intelligence (AI), image recognition/analysis, streaming technologies and online learning systems.

The rebranding of our security and online learning products under the umbrella brand Enclosed is currently in progress. Furthermore, I have to mention our newest division which consists of the field of healthcare. The main activities are the trade of healthcare products, the provisions of related services, and the production and development of healthcare products and IT solutions.

In the next part, I wish to present our solutions of high importance being the basis of our future success.

Security solutions

One of our main field of activity is the development and sale of self-developed security hardware and software. With regard thereto, I would like to highlight products taking care of data encryption which may be used for the secure storage and transfer of data and I also wish to mention our security solutions that base on special (Radar, LIDAR) sensors. The product line Enclosed Bytes is currently being developed in the field of data storage, the elements of which are custom-developed external data storage devices equipped with encryption meeting government and military requirements. The most significant features of the self-developed electronics are the intrusion protection mechanism, hardware-based data encryption and biometric identification. Besides secured data processing, another main product is the Enclosed VPN solution, with which unique hardware-based encrypted networks, similar to VPNs, can be created even between continents. Another field to mention is the development of work time and attendance recording system, which will be implemented with the help of EU and own funds. This system enables non-contact options which are valuable features during COVID-19.

Online learning system

In the past few years, it has been a project of high priority to develop a modern and safe online learning system that is based on video communication and which offers more than traditional eLearning systems that are typically based on sharing learning materials. The project has been launched with the help of EU and own funds and its tendering stage has been successfully completed, however, development is of high priority and it is continuously in progress ever since, making a good use of our experts’ knowledge and experience of more than 20 years. The events of this year relating to COVID-19 underpinned our previous decision, in accordance with which, the education system should base on video communication. The demand for the use of Zoom, Skype and similar systems has significantly increased this year. The solutions of international players are not fully optimized for training purposes, and on the other hand, these systems are able to perform only a part of the task in the field of distance learning. Our training system does not wish to compete with these international players. Our target group includes those users for whom, on the one hand, the use of a fully customized system suitable for both training and collaborate work is important, and on the other hand, who think that the high level of data protection and the option of full control over the system is of utmost importance. Our philosophy is to provide a comprehensive, integrated solution to our partners for whom education with a high level of data security is important and it is provided in a form that is integrated and customized to suit their organization and which may be operated fully through an internal network that is not accessible through the public Internet. Large international competitors (such as Zoom) do not offer proper data security at all, which is expected by several users, and they do not provide any option of operating through secure and protected networks that are not accessible through the public Internet, however, our systems do. Besides institutions and companies performing classic and traditional educational activities, our target group includes government agencies, operators of critical infrastructures, the bank sector, insurance companies and companies and enterprises who wish to protect their data, information and knowledge. Our services, being developed in this field, include products supporting online learning, online conferences, online examinations and online, remote working.

AI solutions

We pay particular attention to possibilities that artificial intelligence (AI) presents. Our aim is to strengthen and to invest in this field. Such investment may deliver wide-ranging results. This, on the one hand, could significantly support the marketability and competitiveness of our existing products (for instance, the possibility to analyze behavior patterns through encrypted networks or the support of attention detection by AI in case of our online learning system).

On the other hand, such knowledge may be of use in completely new fields as well. Among others, we are researching solutions that could be used in healthcare research and reforms, agriculture, forestry, urban management or other industrial fields.

Since our company has extensive capacities (of employees and subcontractors) and professional contacts in the field of IT and industrial implementations and has a breadth of experience in terms of project management, it provides assistance for several projects as a main contractor to implement custom-developed IT systems.

Health division

As I have mentioned earlier, one of the new activities of iSRV Zrt. is to enter the healthcare sector. When we were designing our online learning system, our objective was to be able to satisfy the specific needs of healthcare regarding healthcare education. Relevant steps were taken at the beginning of this year, during COVID-19. Through our great business relations with our Chinese partners, the company managed to distribute life-support machines and face masks throughout this year.

Our goal is to remain active in trading healthcare products. In addition, the provision of services relating to healthcare products is in the phase of business planning and we are also assessing our possibilities to develop and manufacture certain healthcare products.

It is essential to emphasize that the aforementioned services are in compliance with international quality standards and information security requirements. Our company complies with the requirements of quality management system ISO 9001:2015 and also completed the annual control of NATO suppliers, furthermore, it managed to extend its permit to be able to develop and trade military technology products. In 2020, the company obtained information security certifications in several categories: “Top Secret” of the Hungarian state, EU “Secret!”, NATO “Secret!”, Paks II “Secret!”.

Based on the aforementioned information, it can be seen that our company endeavors to be a part of innovative, constantly evolving fields and to be as diverse as possible.

The main objective of the next phase of the company is to prepare the products and services developed by iSRV Zrt. to be able to appear on the Polish and other markets as actively as possible. Such activity will be carried out by Polaris IT Group SA and necessary arrangements are currently in progress.

Thank you for your attention,

Gábor Kósa

CEO

iSRV Zrt.“

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As part of the project, iSRV Zrt. will employ six new colleagues, for a minimum of 24 months. The Hungarian state provides a grant of approx. PLN 3,597/colleague/month to the iSRV Zrt.

The capital group Polaris IT Group SA (Polaris) was established on July 6, 2020, Polaris owns 100% of shares in iSRV Zrt. through a subsidiary.

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Despite the travel restrictions, the management continued the video based digital consultation with United Dots Ltd., and according to the contract announced in December 2019, has completed the feasibility study, generating EUR 50,000 revenue.
This study could form the basis for a future complex project, where Ark Royal SA will be key coordinator.

In addition, the strategic plan is going forward to present a proposal to the Shareholders at the next General Meeting which is to take over the valued entity in exchange for the issue of new shares of Ark Royal SA.

In accordance with the strategy announced before, after months of professional and takeover negotiations with the selected target company, the Management Board of Ark has engaged Grant Thornton Valuation Ltd., to express an opinion of the Fair Market Value of the target company on the premise of continued operation.

The selected entity operates on the information technology market as a complex hardware and software solution provider company with high expertise on AI, cryptography, custom-built (FPGA) solutions, video streaming and biometric security technology. The company provides internationally competitive, innovative solutions such as data security solutions, streaming technologies and video based online education system.

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For the purpose of this reposition, the management has set up a new business line,, focusing on technological advisory activity, using the management’s professional experience and business network. The revenue from this activity will cover the current costs of functioning.

Secondly, the basic strategy for Ark Royal SA is to find an appropriate target IT company that can be an asset (i.e. in-kind contribution) to Ark Royal against shares newly issued in the framework of a share capital raising in Ark Royal SA.

We are in the process of negotiating with target companies, analyzing product and solution portfolios and the professional competencies of potential colleagues. The management wants to make a decision by the end of November 2019.

In order to attract people who can support the company in implementing the strategy through a business and personal network, Mr. Gergely Bárdos, the main shareholder, has obliged to selling 7,877,720 shares to three people. These people are entitled to purchase shares for PLN 0.06-0.07 per share over the next year.

The General Meeting of Shareholders will be held by the end of the year. The Management Board will present proposals for ordering the Company’s statute and a project to increase the share capital related to the acquisition of the selected entity.

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