StrikeForce Technologies Releases Its Year End 2011 10-K Financial Results
April 16 2012 - 10:13AM
Marketwired
StrikeForce Technologies (OTCBB: SFOR) today reported its 2011 Year
End Financial Results which shows a 68.5% increase in its Revenues.
StrikeForce also repeats excerpts from its State of the Company
release with a look into 2012.
"StrikeForce delivered a year of
strengthening growth in net income and total revenue in 2011, up by
68.5%, compared to the 2010 total revenue," says Mark L. Kay, CEO
of StrikeForce Technologies. "With the numerous announced data
breaches as reported by the Verizon 2012 Data Breach Report and
other publications, in addition to updated guidance of the FFIEC
financial market regulation now being enforced; strengthening of
the HIPAA healthcare regulation; greater global media coverage of
Identity Theft, keylogging viruses stealing keystrokes and more,
the tide is turning for StrikeForce and starting to become evident
in our revenue streams in a more recurring continuous manner,"
continues Kay.
Revenues for the year ended December 31, 2011 were $448,127
compared to $265,990 for the year ended December 31, 2010, an
increase of $182,137 or 68.5%. The increase in revenues was
primarily due to the increase in sales of our software products as
a result of the implementation of several new contracts executed in
2011. These contracts continue for multiple years with monthly
recurring revenues that currently are expected to continue to
increase monthly.
In respect to StrikeForce's outlook for 2012, the following is
an excerpt from a prior press release we put out on January 4th,
2012 and continues to fairly represent management's current view
for 2012:
"We are very bullish looking ahead into 2012, even though the
market may not be," says Mark L. Kay, CEO of StrikeForce. "Our
products are increasing in sales and revenues, while we keep
enhancing their functions and features to meet client and market
demand. The distributors we added in 2011 open up whole new global
opportunities that are already paying off. If you then include the
updated FFIEC and HIPAA regulations as examples and greater concern
of compliancy and then our awarded 'Out-of-Band' Authentication
Patent, our management team believes this is our year."
Currently, StrikeForce's monthly increasing recurring revenues
remain strong and the Company looks forward to announcing our 1st
Quarter financials through our 10-Q in May 2012.
Detailed financial data and other information are available in
StrikeForce Technologies, Inc. Form 10-K for the annual period
ending December 31, 2011.
ABOUT STRIKEFORE TECHNOLOGIES, INC. StrikeForce Technologies
helps to prevent online identity theft and data security breaches
for consumers, corporations, and government agencies. It provides
powerful two-factor, 'Out-of-Band' authentication and keystroke
encryption solutions. StrikeForce Technologies, Inc. (OTCBB: SFOR)
is headquartered in Edison, N.J., and can be reached at
www.strikeforcetech.com or by phone at (732) 661-9641 or toll-free
at (866) 787-4542.
Safe Harbor Statement: Matters discussed
in this press release contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions
identify such forward-looking statements. Actual results,
performance or achievements could differ materially from those
contemplated, expressed or implied by the forward-looking
statements contained herein. These forward-looking statements are
based largely on the expectations of the Company and are subject to
a number of risks and uncertainties. These include, but are not
limited to, risks and uncertainties associated with: the sales of
the company's identity protection software products into various
channels and market sectors, the issuance of the company's pending
patent application, and the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance, the impact on the national
and local economies resulting from terrorist actions, and U.S.
actions subsequently; and other factors detailed in reports filed
by the Company.
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Contact: StrikeForce Contact: George Waller (732)
661-9641 gwaller@strikeforcetech.com
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