Zerify Provides Corporate Update

Rhea-AI Summary

Zerify, Inc. (OTCQB: ZRFY) reported its third fiscal quarter results for 2022, revealing a slight revenue decline to $22,000 from $24,000 in the previous quarter. Despite this, the company anticipates growth in 2023, spurred by positive feedback on their Zerify Meet and Zerify Defender solutions. Key partnerships with VationVentures and PushForce are expected to enhance distribution. Zerify emphasizes its unique position in the cybersecurity market, offering secure video conferencing solutions and active marketing initiatives. A virtual shareholder meeting is planned for January 20, 2023.

Positive

• Anticipated revenue growth in 2023 due to increased demand for secure video conferencing solutions.
• Positive feedback from distributors regarding Zerify's products.
• Partnerships with VationVentures and PushForce expected to enhance sales channels.
• Unique product offerings with zero-trust architecture, differentiating Zerify from competitors.

Negative

• Third-quarter revenue declined to $22,000 from $24,000 in the prior quarter.

Company Continues to Build Through Channel Program, Sees Growth in 2023

EDISON, N.J., Nov. 22, 2022 (GLOBE NEWSWIRE) -- Zerify, Inc. (OTCQB: ZRFY) (“Zerify” or the “Company”), the 21-year-old cyber security company focused on secure video conferencing solutions and formerly known as StrikeForce Technologies, today provides a corporate update on the Company’s activities, which corresponds to the Company’s filing of its third fiscal quarter financial results for the quarter ending September 30, 2022. The Company’s Form 10-Q can be found via the U.S. Securities and Exchange Commission’s (SEC) website, www.sec.gov.

Mark Kay, Zerify’s Chairman and CEO, comments:

“Revenue in our third quarter of 2022 was down slightly to $22,000 versus our second quarter 2022 revenue of $24,000. However, feedback from our distributors and partners regarding our Zerify Meet and Zerify Defender solutions has been positive, and we expect to see an acceleration in orders and revenue from end-customers in 2023. Our partnership with VationVentures is showing early signs of potentially meaningful contribution in 2023, and we are optimistic that it will lead to an expanded reseller channel program in the coming months. As a reminder, the goal of the VationVentures relationship was to provide us with three to five strategic partners and 15 – 25 VARs (value-added resellers). Moreover, our relationship with PushForce is on track to accelerate in the first quarter of 2023, and we are looking to gain traction with their top clients over time.

“The big driver of our anticipated demand is a recognition among IT professionals that cyber threats and foreign attacks targeting video conferencing applications raise legitimate concerns about privacy and protection of proprietary data. Our Meet, Defender, and API specific product solutions are the only zero-trust architecture offerings in the market that provide secure solutions to video conferencing. Meet is our secure stand-alone video conferencing platform, Defender secures all competing video conferencing platforms, including Zoom and Teams, and protects one’s camera, microphone, and keyboard, while API embeds secure video conferencing into existing applications, such as CRMs and ERPs. Our products have garnered industry merit from the likes of Forrester for their robustness, and it bears repeating that there are no other products like ours in the market.

“To raise awareness of our unique video conferencing solutions, we have increased our marketing and sales efforts, as we believe we have the only proper solution for such video conferencing threats in the market currently. Driving awareness of our product offerings is both necessary and critical. As part of these initiatives, we also participated in a few recent investment conferences, twice at the Emerging Growth Conference and at the Dawson James Small Cap Growth Conference. I would urge interested investors to listen to the archived replays of my presentations from each of those conferences. I would also add that we are waiting on FINRA approval to begin our Reg A round of financing, and any interested investors who believe in our strategy, products, management team, and ability to execute are welcome to participate and help us obtain the necessary capital to execute on our strategy.

“In summary, we are encouraged about our strategic path and corporate outlook, especially as we expect 2023 to be a year of growth, especially revenue growth. Our solutions are needed in today’s world of video conferencing, and we are steadfast in seizing this opportunity to provide a more secure method to communicate.

“Lastly, I look forward to speaking with our shareholders at our virtual annual shareholder meeting being held on January 20, 2023,” concludes Mr. Kay.

About Zerify 
Zerify, formerly StrikeForce Technologies, helps to prevent cyber theft and data security breaches for consumers, corporations, and government agencies and is focused on secure video conferencing solutions. It provides powerful two-factor, “out-of-band” authentication and keystroke encryption along with mobile solutions. Zerify is headquartered in Edison, N.J. and can be reached 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.

Investor Relations:
CORE IR
212-655-0924

FAQ

What were Zerify's revenue figures for Q3 2022?

Zerify's revenue for the third quarter of 2022 was $22,000, down from $24,000 in Q2 2022.

What is Zerify's growth outlook for 2023?

Zerify expects significant revenue growth in 2023 driven by increased demand for secure video conferencing solutions.

What products does Zerify offer for secure video conferencing?

Zerify offers Zerify Meet, a secure video conferencing platform, and Zerify Defender, which secures other video conferencing applications.

When is Zerify's virtual annual shareholder meeting?

Zerify's virtual annual shareholder meeting is scheduled for January 20, 2023.

How is Zerify addressing cybersecurity concerns?

Zerify is focusing on the recognition of cyber threats in video conferencing, offering unique solutions that employ zero-trust architecture.