StrikeForce Technologies Takes Initial Steps Towar
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Posted On: 04/17/2020 6:50:10 AM
StrikeForce Technologies Takes Initial Steps Towards Up-Listing to Major Exchange
GlobeNewswireApril 17, 2020, 6:02 AM EDT
EDISON, N.J., April 17, 2020 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTC PINK: SFOR), the “Company”, a unique Cyber Security Company announced today that it is taking the initial steps necessary to up-list to a major exchange.
It is the Company’s intention, although there can be no guarantees, to up-list to a major exchange in 2021 and it is taking the necessary steps to position itself so that it can accomplish its goal.
StrikeForce Technologies has always been a fully audited and reporting public company. On March 31, 2020, the Company announced in a Current Report on Form 8-K that it will be unable to file its 2019 Annual Report on Form 10-K by the original deadline of March 30, 2020 due to circumstances related to COVID-19. The Company is pleased to alert its shareholders that it plans to have its annual report filed on Form 10-K within the time frame permitted which will allow the Company to maintain its fully reporting and current status.
In efforts to clean up its balance sheet, the Company recently entered into an agreement with Sycamore Capital, a partner of Continuation Capital (“CCI”), to which CCI agreed to enhance the cash position of StrikeForce for the purpose of consolidating certain debts of the Company.
In order to help propel us to a major exchange and to enhance our ability to raise capital, we also plan on a small restructuring in the form of a 1 for 500 stock split, which we believe will give us a boost to achieving the minimum trading prices that the major exchanges require. Additionally, the Company will be reducing its authorized shares allocation by 3 billion shares.
Mark Kay, CEO of StrikeForce commented, “Creating value and sustainable growth for our shareholders has always been our top priority. As we take these initial steps by cleaning up our balance sheet and slightly restructuring our equity, we are paving the way for our future and the ability to compete with the major Cyber Security firms. As always, we will make every effort going forward to keep its shareholders informed of its progress as it takes all of the necessary steps to achieve its goals.”
GlobeNewswireApril 17, 2020, 6:02 AM EDT
EDISON, N.J., April 17, 2020 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTC PINK: SFOR), the “Company”, a unique Cyber Security Company announced today that it is taking the initial steps necessary to up-list to a major exchange.
It is the Company’s intention, although there can be no guarantees, to up-list to a major exchange in 2021 and it is taking the necessary steps to position itself so that it can accomplish its goal.
StrikeForce Technologies has always been a fully audited and reporting public company. On March 31, 2020, the Company announced in a Current Report on Form 8-K that it will be unable to file its 2019 Annual Report on Form 10-K by the original deadline of March 30, 2020 due to circumstances related to COVID-19. The Company is pleased to alert its shareholders that it plans to have its annual report filed on Form 10-K within the time frame permitted which will allow the Company to maintain its fully reporting and current status.
In efforts to clean up its balance sheet, the Company recently entered into an agreement with Sycamore Capital, a partner of Continuation Capital (“CCI”), to which CCI agreed to enhance the cash position of StrikeForce for the purpose of consolidating certain debts of the Company.
In order to help propel us to a major exchange and to enhance our ability to raise capital, we also plan on a small restructuring in the form of a 1 for 500 stock split, which we believe will give us a boost to achieving the minimum trading prices that the major exchanges require. Additionally, the Company will be reducing its authorized shares allocation by 3 billion shares.
Mark Kay, CEO of StrikeForce commented, “Creating value and sustainable growth for our shareholders has always been our top priority. As we take these initial steps by cleaning up our balance sheet and slightly restructuring our equity, we are paving the way for our future and the ability to compete with the major Cyber Security firms. As always, we will make every effort going forward to keep its shareholders informed of its progress as it takes all of the necessary steps to achieve its goals.”
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