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this guy is getting closer to send the trio to jail
Strikeforce Tax Liability
?
Under IRS regulations when management receives stock that is vested it is taxable event. The company is also required to issue a W2 and withhold the federal, state and any local tax that is due.
StrikeForce Technologies Inc. reported in a 10K filed 4/14/22 that there were stock awards to management which was recorded as compensation for $3,675,000 and $2,712,000. There is no mention of any W2’s being issued or the company withholding the tax on the compensation to management. The company has a significant amount of tax due and is not disclosing this with the shareholders
Getting in deeper!
Below is the paragraph taken from the StrikeForce Technologies Inc 10K filed on 4/14/22
In February 2021, 12,250,000 unvested options granted in fiscal 2020 were modified and such options became fully vested. Pursuant to current accounting guidelines, we remeasured the fair value of these options and determined their fair value to be $3,675,000 and was recorded as stock compensation expense. We also recorded additional stock compensation expense of $2,712,000 to account for options granted in the prior year that vested. In addition, we also issued 17,208,335 shares of the Company’s common stock upon cashless exercise of 17,500,000 options.
In July 2021, we issued 13,557,693 shares of the Company’s common stock upon cashless exercise of 15,000,000 options. In September 2021, we issued 9,189,627 shares of the Company’s common stock upon cashless exercise of 10,000,000 options. In October 2021, we awarded options to purchase 2,500,000 shares of our common stock to our management team and employees, exercisable at $0.005 per share, expiring ten (10) years from the date of grant and vesting over a six-month period. In December 2021, we awarded options to purchase 65,000,000 shares of our common stock to our management team and employees, exercisable at $0.0375 per share, expiring ten (10) years from the date of grant and vesting over a six-month period
this guy is getting closer to send the trio to jail
Strikeforce Tax Liability
?
Under IRS regulations when management receives stock that is vested it is taxable event. The company is also required to issue a W2 and withhold the federal, state and any local tax that is due.
StrikeForce Technologies Inc. reported in a 10K filed 4/14/22 that there were stock awards to management which was recorded as compensation for $3,675,000 and $2,712,000. There is no mention of any W2’s being issued or the company withholding the tax on the compensation to management. The company has a significant amount of tax due and is not disclosing this with the shareholders
Getting in deeper!
Below is the paragraph taken from the StrikeForce Technologies Inc 10K filed on 4/14/22
In February 2021, 12,250,000 unvested options granted in fiscal 2020 were modified and such options became fully vested. Pursuant to current accounting guidelines, we remeasured the fair value of these options and determined their fair value to be $3,675,000 and was recorded as stock compensation expense. We also recorded additional stock compensation expense of $2,712,000 to account for options granted in the prior year that vested. In addition, we also issued 17,208,335 shares of the Company’s common stock upon cashless exercise of 17,500,000 options.
In July 2021, we issued 13,557,693 shares of the Company’s common stock upon cashless exercise of 15,000,000 options. In September 2021, we issued 9,189,627 shares of the Company’s common stock upon cashless exercise of 10,000,000 options. In October 2021, we awarded options to purchase 2,500,000 shares of our common stock to our management team and employees, exercisable at $0.005 per share, expiring ten (10) years from the date of grant and vesting over a six-month period. In December 2021, we awarded options to purchase 65,000,000 shares of our common stock to our management team and employees, exercisable at $0.0375 per share, expiring ten (10) years from the date of grant and vesting over a six-month period
