The only new thing is SFT extending the promissory

Message Board

Previous

| Next

Post# of 82690

(Total Views: 550)

Posted On: 11/25/2019 10:13:37 PM

Posted By: RDY2ROCK

The only new thing is SFT extending the promissory note timeline this year Q1/March. The promissory note basically reserves $SFOR KE IP for purchase by CSI/ACS. It was in the 2018 10K and 2019 Q's. They did that early this year before the First Data and DSS (same month) inked deals and therefore also not knowing when implementation would start by merged Multi-Billion Dollar Behemoth Fiserv/FD!

Even when CSI/ACS does buy, we still get license fees. IMO we could see a buyout occur before the ACS purchases and ACS / SFT work that out in the buyout deal.

2 FEB 2016 8K and as of 28 JAN 2016 is when CSI/ACS executed the promissary note for purchase, which immediately followed the MSFT/PF settlements. Coincidence, IMSO - NO!

https://www.sec.gov/Archives/edgar/data/12855...for_8k.htm

Quote:
On August 24, 2015, the Company entered into an asset purchase and licensing agreement with Cyber Safety, Inc., a New York corporation ("Cyber Safety" to license and retain an option to purchase the patents and Intellectual Property related to the GuardedIDÒ and MobileTrustÒ software (the "Asset Purchase Agreement" .

Effective January 28, 2016, Cyber Safety, finalized the purchase of the option to buy the keystroke encryption patents and Intellectual Property related to the GuardedIDÒ and MobileTrustÒ software pursuant to the terms and conditions of the Asset Purchase Agreement for a purchase price of Nine Million Dollars ($9,000,000), which may be paid in the form of a promissory note due by and no later than September 30, 2020. Pursuant to the terms and conditions of the Asset Purchase Agreement, StrikeForce's license granted to Cyber Safety does not affect or impact existing distributor relationships. StrikeForce, directly and through its distribution channel, will maintain the right to sell in the retail space in perpetuity.

Then from last 10Q and was also in the last 10K:
https://www.sec.gov/Archives/edgar/data/12855...or_10q.htm

Quote:
On August 24, 2015, the Company entered into an agreement with Cyber Safety, Inc., a New York corporation (“Cyber Safety”) for Cyber Safety to license, and retain an option to purchase, the patents and intellectual property related to the GuardedID® and MobileTrust® software. Cyber Safety had the option to buy the Company’s GuardedID® patent for $9,000,000 that expires on September 30, 2020. In March 2019, the option to purchase agreement was modified to increase the purchase price to $10,000,000 and extend the expiration date to September 30, 2021. If the purchase price is not paid by September 30, 2021, it will increase to $11,000,000 and be due September 30, 2022.