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1、1Annual Report 2020FIRSTWAVECLOUD TECHNOLOGY2020 ANNUAL REPORTFirstWave Cloud Technology LimitedABN 35 144 733 595FirstWave Cloud Technology Limited2FIRSTWAVECLOUD TECHNOLOGYContentsDemocratising Enterprise Grade Cybersecurity-as-a-Service 2Chairmans Letter 5Chief Operating Officers Report 7Director
2、s Report and Remuneration Report 10Financial Report 19Auditors Independence Declaration 20Financial Statements 21Directors Declaration 52Independent Auditors Report 53Shareholder Information 57Corporate Directory 5901020304050607ABN 35 144 733 595Annual Report30 June 2020FIRSTWAVECLOUD TECHNOLOGY1An
3、nual Report 2020Contents2 Annual Report 2020FIRSTWAVECLOUD TECHNOLOGYAt the heart of FirstWave Cloud Technology Limited is its unique and proprietary technology,Cloud Content Security Platform(CCSP).CCSP holds the key to FirstWave Cloud Technology Limited becoming a highly successful,global business
4、.This important technology enables our partners to offer their end-user customers,particularly small to medium businesses,a unique solution to address ever-increasing cybersecurity risk.This was true before COVID-19.It is even more urgent now as globally,workers have physically dispersed to work out
5、side the safety of their corporate networks thereby exposing their businesses to even more cybersecurity risk.The Problem for Service Providers:Increasing complexity and demand at the same time as declining profitability As business and government organisations accelerate their digital transformatio
6、n to cloud-based applications and a highly mobile workforce and customer base,service providers,our partners,are under pressure to do more to lower cybersecurity risk for their customers and to reverse the decline in profitability they are experiencing in their traditional telecommunications service