CipherLoc Corporation: Cipherloc Settles Litigation, Reclaims Additional Shares AUSTIN, TX / ACCESSWIRE / January 20, 2021 / Cipherloc Corporation (OTCQB:CLOK) ("CipherLoc"), a developer of advanced encryption technology, today announced the return of 127,500 common shares and 1 million preferred shares, which were convertible into 1.5 million common shares, as part of a settlement with the estate of its previous Chief Financial Officer Pamela Thompson. As consideration in the settlement, Cipherloc agreed to pay $50,000. "This settlement returns the equivalent of more than 1.6 million shares of Cipherloc's common stock to the Company," said David Chasteen, CEO of Cipherloc. "While we believe this return of shares improves the standing of our stockholders, we remain fully focused on revenue-generating sales activity as we continue to work with our partners and distributors to move Cipherloc's software into the market."