EDISON, N.J., April 17, 2017 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTC PINK:SFOR),
STATE OF THE COMPANY:
We are proud to announce that our recent December 31 st , 2016 year end 10k shows revenues of $384,289 vs. our December 31, 2015 year end revenues of $271,559, this is an increase of $112,730 or 41.5%. 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).
CUSTOMER MARKETS: 2017 is our year for potential meaningful revenues, especially through our channel partners that already are working with many sizeable companies. StrikeForce should minimally realize their results in the second half of this year. 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.
IN SUMMARY: StrikeForce projects 2017 to be our year, for which we are increasing in Enterprise and Retail sales as Cyber Theft and Data Breaches increase greatly and are now being taken much more seriously by all. The projected increase is also based on documented Cyber Security increased budgets across all markets.
About StrikeForce:
StrikeForce Technologies helps to prevent cyber security attacks online. Its products help protect consumers and their families while banking and shopping online, and businesses in “real time” against data loss and breaches. StrikeForce Technologies, Inc. (OTC PINK: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.
StrikeForce IR Contact: Mark L. Kay. CEO marklkay@strikeforcetech.com 732-661-9641 StrikeForce PR Contact: George Waller, EVP gwaller@strikeforcetech.com 732-661-9641
