StrikeForce Technologies Releases Its Second Quarter 2012 10Q Financial Results
August 13 2012 - 2:13PM
Marketwired
StrikeForce Technologies (Ticker: SFOR) (OTCBB: SFOR) today
reported its 2nd Qtr 2012 Financial Results, which shows continual
increases in its gross revenues.
StrikeForce's gross revenues for the three months ended June 30,
2012 were $168,427 compared to $48,355 for the three months ended
June 30, 2011, an increase of $120,072 or 248%. The increase in
revenues was primarily due to StrikeForce's recurring gross
revenues, maintenance payments and the increase in sales of our
software products as a result of the implementation of new
contracts executed in the first and second quarter of 2012.
StrikeForce's gross revenues for the six months ended June 30,
2012 were $353,081 compared to $149,160 for the six months ended
June 30, 2011, an increase of $203,921 or 237%. The increase in
gross revenues was primarily due to sales of our security
products.
StrikeForce's gross revenue comparisons do not include $120,000
of booked advance billing that occurred during the 2nd Qtr 2012
relating to the second year of a multi-year agreement with a
financial services Fortune 1000 company for our ProtectID® product,
which will be recorded as earned revenue in the third quarter of
2012.
"StrikeForce continues to remain on target with its gross
revenue guidance provided in 1st Qtr 2012. StrikeForce continues to
execute on its current strategy of concentrating in the financial,
healthcare and technology markets in selling its products through
its growing international distribution channel and directly," says
Mark L. Kay, CEO of StrikeForce Technologies. "With the numerous
announced data breaches as reported by the Verizon 2012 Data Breach
Report and reports such as Dark Reading's article, 'Best Buy Says
Some Customer Accounts Have Been Hacked,' on July 10, 2012 and many
other identity theft articles, StrikeForce's 2nd Qtr 2012 reported
financials continue to show increases in gross revenues that we
project to continue to grow throughout 2012 and beyond mainly based
on executed contracts," continues Kay.
StrikeForce is pleased to announce the Company's second live
public Webex Presentation on Tuesday, August 14th at 2PM EDT, where
Mr. Kay will walk through a presentation of the 2nd Qtr 2012
results, the status of our Patents and our 2012 business outlook
continuing into 2013. Anyone interested in attending, or with any
questions relating to our 2nd Qtr 10Q filing, please email your
questions and or request to Q2Review@strikeforcetech.com to then
receive your official invite.
Detailed financial data and other information are available in
StrikeForce Technologies, Inc. Form 10Q on the StrikeForce website
and www.sec.gov, for the six month period ending June 30, 2012.
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: Mark L. Kay (732) 661-9641
Q2Review@strikeforcetech.com
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