|By Marketwired .||
|May 23, 2014 12:59 PM EDT||
EDISON, NJ -- (Marketwired) -- 05/23/14 -- StrikeForce Technologies, Inc. (OTCQB: SFOR) reported on May 20th its 1st Quarter 2014 Financial Results, which shows a decrease in net revenues as compared to 1st Quarter 2013, while remaining bullish on the 2014 annual gross sales projections.
"StrikeForce and its global sales channel are signing new planned deals that potentially could be strong revenue producers during 2014 and beyond. StrikeForce's revenues for the 1st Quarter ended March 31, 2014 was $90,901 compared to $160,991 for the 1st Quarter ended March 31, 2013, a decrease of $70,090 or 43.5%, primarily due to the decrease in sales of our GuardedID® keystroke encryption sales resulting from our initiated litigation due to our claim of a breach of contract by one of our partners, along with delays in realizing revenues from some of our new distributor's clients, and in delayed rollout of our new mobile security technologies.
"StrikeForce remains very positive about our near and long term future, even more now than ever. Our patent portfolio continues to grow; we have signed new agreements with partners and them with their clients in the US and abroad that will be announced in time. Based on current agreements and their minimum sales potential, we already anticipate reaching our minimum potential projections stated for 2014," says Mark Kay, CEO.
StrikeForce is pleased to announce in keeping our tradition, the Company's 1st Quarter March 31, 2014 10Q WebEx Presentation to be available on our website for you to see and listen to sometime starting Wednesday, May 28th, where Mr. Kay, joined by Mr. Ram Pemmaraju (CTO) and Mr. George Waller (EVP), will walk through a presentation of the 1st Quarter March 31, 2014 results, an update on our patents, patent litigation and our 2014 business outlook from a technology and sales perspective. Anyone interested in asking any questions relating to our 1st Quarter March 31, 2014 10Q filing, please email your questions to [email protected] for us to consider to respond to during or after the WebEx presentation.
Detailed financial data and other information is now available in StrikeForce Technologies, Inc. Form 10Q on the StrikeForce website and www.sec.gov, for the first quarter ending March 31th, 2014.
ABOUT STRIKEFORCE TECHNOLOGIES, INC.
StrikeForce Technologies helps to prevent online identity theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, 'Out-of-Band' authentication, keystroke encryption and mobile solutions. StrikeForce Technologies, Inc. (OTCQB: 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.
Mark L. Kay
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