StrikeForce Technologies Releases Its Annual 2013 10K Financial Results
April 15 2014 - 8:41AM
Marketwired
StrikeForce Technologies Releases Its Annual 2013 10K Financial
Results
EDISON, NJ--(Marketwired - Apr 15, 2014) - StrikeForce
Technologies (OTCQB: SFOR) late yesterday reported its Annual
2013 Financial Results, which shows a decrease in net revenues for
2013, while projecting increasing revenues going forward,
especially in 2014 based on the growing demand for our keystroke
encryption and new mobile products that are now in beta
testing.
"StrikeForce and its global sales channel continue to sign new
contracts and pilots late in 2013 and into 2014. StrikeForce's
revenues for the year ended December 31, 2013 was $434,657 compared
to $805,312 for the year ended December 31, 2012, a decrease of
$370,655 or 46%, primarily due to the one-time credits of $44,092
applied to our revenues as a result of the downsizing of one client
causing a delay in the processing of their maintenance fees, due to
the decrease in sales of our GuardedID® keystroke encryption sales
resulting from our initiated litigation due to our claim of a
breach of contract by one of our partners, along with delayed
revenues from new contracts and the delay in completing our mobile
products," says Mark Kay, CEO. "StrikeForce continues its
contract litigation, now in discovery, to recoup its losses and
anticipates a successful recovery of some or all the contractual
amounts at issue over time, while recognizing the costly and
unpredictable nature of litigation," continues Kay. "StrikeForce
remains very positive in regard to our developing recurring gross
revenue opportunities, renewals, new contracts and pilots. In
addition we are most enthusiastic with the early strong interest in
our new mobile products that are moving to production and the
stores over the next few months."
"StrikeForce, even though had a disappointing year in net
revenues, we are very excited about the future, even more now than
ever. We were awarded two new patents and two notice of allowances;
we have newly signed distribution partners in the US and abroad,
new customers and new pilots underway. We are aggressively
litigating potential patent and intellectual property infringers
and will be releasing two new mobile products into production and
the Apple and Android stores within the next few months. The timing
of our products is still early but key to solving some of the
biggest data breaches that occurred throughout 2013 and into 2014,"
says Kay, "as published in an article called 'Identity Theft
Statistics 2013: Why You Should Be Alarmed,' in the July edition of
Credit Donkey, the FCC reported that mobile security threats have
increased more than 350% since 2010."
StrikeForce is pleased to announce in keeping our tradition, the
Company's year ending December 31, 2013 10K WebEx Presentation to
be available on our website for you to see and listen to sometime
on Wednesday, April 16th, where Mr. Kay, joined by Mr. Ram
Pemmaraju (CTO) and Mr. George Waller (EVP), will walk through a
presentation of the year ending December 31, 2013 results, an
update on our patents, patent litigation and our 2014 business
outlook from a technology and sales perspective. Anyone interested
in asking any questions relating to our year ending December 31,
2013 10K filing, please email your questions to
YearEnd2013Review@strikeforcetech.com for us to consider to
respond to during or after the WebEx presentation.
Detailed financial data and other information is now available
in StrikeForce Technologies, Inc. Form 10QK on the StrikeForce
website and www.sec.gov, for the third quarter ending December
31th, 2013.
ABOUT STRIKEFORCE 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, keystroke
encryption and mobile solutions. StrikeForce Technologies, Inc.
(OTCQB: 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.
Contact: Mark L. Kay CEO (732) 661-9641
YearEnd2013Review@strikeforcetech.com
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