Strikeforce Technologies Inc (OTCMKTS:SFOR) shares have been up over 125% in a three-month period, recently, and the company had two press releases recently, which could be indications that SFOR could continue to rise. Before we move onto company news, you’ll probably need to know what the company does first.
If you haven’t heard of Strikeforce Technologies yet, the company is primarily focused on helping to prevent cyber security attacks online. Strikeforce’s products could help protect consumers and their families while banking and shopping online, and businesses in “real time” against data loss and breaches. With the ongoing concerns of cyber attacks, Strikeforce Technologies could benefit from the current demand for cyber security products and services.
Let’s get into some company news now. Strikeforce Technologies Inc (OTCMKTS:SFOR)recently reported on the State of the Union, and its 2016 Form 10K showed growth in the company’s revenues. For the fiscal year ended on December 31, 2016, Strikeforce Technologies had revenue of $384K, compared to $271.56K during the 2015 fiscal year. Consequently, the company grew its revenues by over 40% year over year.
According to Strikeforce Technologies, “The increase in revenues was due to the increase in demand for our ProtectID, GuardedID, and MobileTrust security software, maintenance and support sales. Mediation took place in May 2015 to discuss a potential settlement of our out-of-band authentication patents, and on January 15, 2016, the parties reached a settlement in the matter. As part of the settlement, the Company received a payment in January 2016 of a substantial amount. This year we also announced that seven new patent litigations, all based on our three Out-of-Band Authentication Patents, were initiated by our two law firms (Blank Rome LLP and Ropes & Gray LLP).”
Moreover, the company expects 2017 to be its year of “potential meaningful revenues.” Strikeforce believes that, through its channel partners, it could potentially continue its revenue growth. In its report, the company stated, “This year we also have progressed with our retail consumer sales through those we listed in social media and our new TV airing this month for GuardedID and MobileTrust, with all leading to possible strong success in 2017. We are now growing in the Enterprise and Retail Markets in a big way and are on target to sell licenses for all of our products.”
The company projects 2017 to be a strong year for the company, and believes it could increase its enterprise and retail sales due to the increase in data breaches and cyber theft, and consumers placing more emphasis on cyber security.
That wasn’t the only catalyst the company had recently. Strikeforce announced that its GuardedID and MobileTrust security software products were launched on the Home Shopping Network. These products were designed with vulnerable users in mind. GuardedID and MobileTrust could help to protect users’ online personal and financial information from keylogging attacks. Now, these products not only protect against keyloggers, but it also allows users to protect their valuable information against zero-day attacks using military-grade keystroke encryption.
According to Strikeforce Technologies Chief Executive Officer, Mark L. Kay, “We are extremely pleased that HSN has decided to include our desktop Keystroke Encryption and Mobile Security products as part of their Innovation Event.”
Kay concluded, “HSN is the industry’s most formidable interactive multi-channel retailer,” added Kay. “This is clearly a major step in the continued growth and development of our proactive approach to protecting computers and mobile devices.”
With the potential increase in demand for cyber security products and services, SFOR could grow its earnings and revenues, which could potentially drive its stock price. To stay up to date on developments in SFOR, all you have to do is enter your email address below, and you’ll be subscribed to our free newsletter. Then, we’ll send you recent developments, if any, in SFOR.
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SFOR stock, short or long.