<SEC-DOCUMENT>0001013762-24-000524.txt : 20240722
<SEC-HEADER>0001013762-24-000524.hdr.sgml : 20240722
<ACCEPTANCE-DATETIME>20240722171136
ACCESSION NUMBER:		0001013762-24-000524
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240722
FILED AS OF DATE:		20240722
DATE AS OF CHANGE:		20240722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Hub Cyber Security Ltd.
		CENTRAL INDEX KEY:			0001905660
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41634
		FILM NUMBER:		241132227

	BUSINESS ADDRESS:	
		STREET 1:		30 HA'MASGER ST.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6721117
		BUSINESS PHONE:		972-3-924-4074

	MAIL ADDRESS:	
		STREET 1:		30 HA'MASGER ST.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6721117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Hub Cyber Security (Israel) Ltd.
		DATE OF NAME CHANGE:	20220120
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea0209830-6k_hubcyber.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PURSUANT TO SECTION 13A-16 OR 15D-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT
OF 1934</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For the month
of July 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Commission File Number: 001-41634</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>HUB Cyber Security Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Exact Name of Registrant as Specified
in Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2 Kaplan St.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Tel Aviv 6473403, Israel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>+972-3-924-4074</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Address of principal executive
offices)</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.35pt; text-align: center">Form 20-F <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Form
40-F <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.35pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CONTENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">On July 22, 2024, HUB Cyber Security Ltd. (the &ldquo;Company&rdquo;)
issued a press release titled &ldquo;HUB Receives Nasdaq Notification Regarding Minimum Bid Price Requirement.&rdquo; A copy of this press
release is attached to this Form 6-K as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The information in this Report on Form 6-K, including in
Exhibit 99.1 attached hereto is being furnished and shall not be deemed &ldquo;filed&rdquo; for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of that section, nor shall
it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange
Act, except as otherwise set forth herein or as shall be expressly set forth by specific reference in such a filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 178.7pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">Hub Cyber Security Ltd.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%">Date: July 22, 2024 </TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 36%">/s/ Noah Hershcoviz</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Noah Hershcoviz</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 368.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 368.15pt"></P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
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    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit<BR>

    Number</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; width: 89%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea020983001ex99-1_hubcyber.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release, dated July 22, 2024.</FONT></A></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">3</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea020983001ex99-1_hubcyber.htm
<DESCRIPTION>PRESS RELEASE, DATED JULY 22, 2024
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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="ex99-1_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>HUB Receives Nasdaq Notification
Regarding Minimum Bid Price Requirement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>Tel-Aviv, Israel </B>&ndash; <B>July
22, 2024 </B>&ndash; HUB Security Ltd (Nasdaq: HUBC), a developer of cybersecurity solutions and services (&ldquo;HUB&rdquo; or the &ldquo;Company&rdquo;),
received a notification from The Nasdaq Stock Market (&ldquo;Nasdaq&rdquo;) notifying the Company that it is no longer in compliance with
Nasdaq Listing Rule 5450(a)(1), because for the past 30 consecutive business days preceding the date of the notification (&ldquo;Notice&rdquo;),
the bid price per share of the Company&rsquo;s ordinary shares, no par value (&ldquo;Ordinary Shares&rdquo;) had closed below the $1.00
per share minimum bid price required for continued listing on Nasdaq (the &ldquo;Minimum Bid Price Requirement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">The Notice has no immediate effect
on the listing of the Company&rsquo;s Ordinary Shares, and the Company&rsquo;s Ordinary Shares continue to trade on Nasdaq under the symbol
&ldquo;HUBC&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Pursuant to Nasdaq Listing Rule 5810(c)(3)(A),
the Company has been provided with an initial 180-calendar day period, ending on January 13, 2025, (the &ldquo;Initial Compliance Period&rdquo;)
to regain compliance with the Minimum Bid Price Requirement. If at any time during the Initial Compliance Period, the closing bid price
per share of the Ordinary Shares is at least U$$1.00 for a minimum of 10 consecutive business days, it is expected that Nasdaq will provide
the Company a written confirmation of compliance and the matter will be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">If the Company does not regain compliance
within the Initial Compliance Period, it may be eligible for an additional 180- calendar day compliance period, pursuant to Nasdaq Listing
Rule 5810(c)(3)(A)(ii), provided that it meets the applicable market value of publicly held shares requirement for continued listing and
all applicable standards for initial listing on the Nasdaq Capital Market (except the Minimum Bid Price Requirement) and notifies Nasdaq
of its intent to cure this deficiency during this second compliance period. If the Company has not regained compliance within the period(s)
granted by Nasdaq, including any extensions, the Ordinary Shares will be subject to delisting, pending an appeal to the Nasdaq Hearing
Panel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">The Company&rsquo;s business operations
are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its Ordinary Shares
and will consider its options in order to regain compliance with the Minimum Bid Price Requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">For further information or inquiries,
please contact: info@hubsecurity.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>About HUB Security Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">HUB Cyber Security Ltd (&ldquo;HUB&rdquo;) was established
in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The Company specializes in unique cyber security solutions
protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution to prevent hostile
intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB operates in over 30 countries and
provides innovative cybersecurity computing appliances and a wide range of cybersecurity services worldwide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">This press release contains forward-looking
statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including
statements about the anticipated benefits of the transaction, and the financial condition, results of operations, earnings outlook and
prospects of the combined company. Forward-looking statements are typically identified by words such as &ldquo;plan,&rdquo; &ldquo;believe,&rdquo;
&ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;outlook,&rdquo; &ldquo;estimate,&rdquo; &ldquo;future,&rdquo;
&ldquo;forecast,&rdquo; &ldquo;project,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo; &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;possible,&rdquo;
&ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;seem,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; &ldquo;would&rdquo; and
other similar words and expressions, but the absence of these words does not mean that a statement is not forward- looking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">The forward-looking statements are
based on the current expectations of the management of HUB, as applicable, and are inherently subject to uncertainties and changes in
circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments
will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions
that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by the
HUB and the following: (i) significant uncertainty regarding the adequacy of HUB&rsquo;s liquidity and capital resources and its ability
to repay its obligations as they become due; (ii) the Company&rsquo;s ability to submit a plan to regain compliance with the Nasdaq Listing
Rules; (iii) the Company&rsquo;s ability to meet minimum bid price required for continued listing on Nasdaq; (iv) the Company&rsquo;s
ability to meet other Nasdaq continued listing standards; (v) the war between Israel and Hamas commenced in October 2023, the potential
effect on the availability of personnel who perform reserve duty, including the CEO, and the potential expansion of hostilities to other
fronts, which may harm Israel&rsquo;s economy and HUB&rsquo;s business; (vi) expectations regarding HUB&rsquo;s strategies and future
financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues,
products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and HUB&rsquo;s
ability to invest in growth initiatives and pursue acquisition opportunities; (vii) the outcome of any legal or regulatory proceedings
against HUB in connection with our previously announced internal investigation or otherwise; (viii) the ability to cure and meet stock
exchange continued listing standards; (ix) the risk that the consummation of the business combination in February 2023 will disrupt HUB&rsquo;s
operations and future plans; (x) competition, the ability of HUB to grow and manage growth profitably, maintain relationships with customers
and suppliers and retain its management and key employees; (xi) limited liquidity and trading of HUB Security&rsquo;s securities; (xii)
geopolitical risk, including military action and related sanctions, and changes in applicable laws or regulations; (xiii) the possibility
that HUB may be adversely affected by other economic, business, and/or competitive factors; and (xiv) other risks and uncertainties set
forth in the sections entitled &ldquo;Risk Factors&rdquo; and &ldquo;Cautionary Note Regarding Forward-Looking Statements&rdquo; in HUB&rsquo;s
Annual Report on Form 20-F filed on August 15, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Should one or more of these risks or
uncertainties materialize or should any of the assumptions made by the management of HUB prove incorrect, actual results may vary in material
respects from those expressed or implied in these forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">All subsequent written and oral forward-looking
statements concerning the matters addressed in this press release and attributable to HUB or any person acting on their behalf are expressly
qualified in their entirety by the cautionary statements contained or referred to in press release. Except to the extent required by applicable
law or regulation, HUB undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the
date of this press release to reflect the occurrence of unanticipated events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
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