StrikeForce Shareholder Update & Growth Strategy

Rhea-AI Summary

StrikeForce Technologies (OTCQB: SFOR) announces the closure of its Regulation A offering, securing necessary funding from a strategic investor. CEO Mark L. Kay indicates that this capital will enable the company to expand its corporate growth strategy and enhance marketing and technical teams. The firm is uniquely positioned in the authentication and cybersecurity markets, which are projected to surpass $100 billion in sales by 2026. Additionally, StrikeForce has launched a new website and a channel program to onboard over 100 new resellers in the coming year.

Positive

• Secured funding from a strategic investor to meet minimum funding goals.
• Plans to expand corporate growth strategy with new hires in sales and marketing.
• New website launched to serve as a resource for industry information.
• Initiation of a channel program expected to onboard over 100 new resellers annually.
• Progress in developing SafeVchat™ API's for secure video conferencing solutions.

Negative

• None.

EDISON, N.J., Sept. 22, 2021 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTCQB: SFOR), a cyber security company that provides next-gen cyber, privacy and data protection solutions for businesses and consumers, today updates shareholders on its growth strategy and we plan to terminate the offering on Form 1-A of Regulation A.

“I am extremely happy to share the news that we plan on closing our Reg A offering today as discussed at last week's interview, after a strategic investor saw the opportunity to get involved and help us meet our minimum funding goal,” says Mark L. Kay, CEO of StrikeForce.

“With this latest investment, we believe StrikeForce has enough monies to now expand on its existing corporate growth strategy, and hire additional sales, marketing and the technical people required to capitalize on the timing and competitive advantage that we have in the authentication, endpoint security & Video collaboration spaces. Collectively, in our estimation, these three technologies are expected to exceed an aggregate of $100B in sales by 2026, and we appear, in our opinion, to be the only cyber security company in the market addressing all three areas, and with patented products,” says Kay.

“In addition to the above exciting news, we also just launched an incredible new website,” says George Waller, EVP of StrikeForce. “We built our new website to also be a central resource for any company looking to get industry specific information about breaches, compliance, risk & business impact and future predictions. Our goal is that SMB’s, Enterprise & Academia utilizing our website can educate themselves, while they can learn more about how our unique solutions can protect them. We encourage everyone to checkout our new site at www.strikeforcetech.com. It also works well on Android and Apple cell phones.”

“We are also launching a new Channel Program this week with CRN (Computer Reseller News). CRN has over 784,000 resellers that subscribe to their news & services. In our assessment, CRN will be delivering 100 new potential resellers to us, each quarter for the next year. Our goal is to have minimally 100 new resellers overall, marketing StrikeForce’s products,” says Waller.

“Our development team has also made great progress with our new SafeVchat™ API’s, which enables our secure video conferencing solution to be embedded into any type of on-premise, or online application. The reason we built this was because a couple of customers came to us saying that they spoke to Zoom and several of the other conferencing vendors and none of them could meet their requirements, most likely because their systems weren’t designed with security in-mind,” says Kay.

“In contrast, from the very beginning, we architected SafeVchat™ to be able to address applications like this. As a result of that, our first API customer, we expect, will be rolling out SafeVchat™ to over 2800 locations for a Fortune 100 company shortly. The great thing for StrikeForce is that we collect revenues on multiple users, per location, per month. Our customer also has many other companies that they plan on rolling it out to as well. Stay tuned,” says Kay.

About StrikeForce Technologies Inc.
StrikeForce Technologies helps to prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication, keystroke encryption along with 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 applications, COVID-19, 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 Contact Info:
Mark L. Kay, CEO
marklkay@strikeforcetech.com
(732) 661-9641

FAQ

What is the recent update from StrikeForce Technologies (SFOR)?

StrikeForce Technologies has closed its Regulation A offering, securing funding for growth initiatives and expansion of its services.

How will StrikeForce Technologies utilize the new funding?

The funding will be used to enhance the corporate growth strategy, including hiring additional sales and marketing personnel.

What new initiatives has StrikeForce Technologies launched?

StrikeForce has launched a new website and a channel program aimed at acquiring over 100 new resellers.

What are the projected market opportunities for StrikeForce Technologies?

The cybersecurity, authentication, and video collaboration markets are expected to exceed $100 billion in sales by 2026.

What is SafeVchat™ and its significance for StrikeForce Technologies?

SafeVchat™ is a secure video conferencing solution that can be embedded in applications, with revenues generated from multiple users per location.