SOURCE: Strikeforce Technologies, Inc.

StrikeForce Technologies

January 04, 2011 07:45 ET

StrikeForce Technologies, Inc. Receives Strategic Funding From Government Contractor, PMI Technologies Inc.

EDISON, NJ--(Marketwire - January 4, 2011) - StrikeForce Technologies, Inc. (OTCBB: SFOR), a company that specializes in the prevention of Identity Theft, announced today that it has received strategic funding inclusive of an alliance with a Government Contractor.

"We are excited to receive funding from PMI," says Mark L. Kay, CEO of StrikeForce; "they are a well established Government Contractor that has been in business for over 35 years. In addition to funding, this transaction is also a very strategic business partnership that will greatly benefit both StrikeForce and PMI, especially with PMI's major relationships in the Government, Aerospace and Defense Industries," says Kay.

"The initial funding of close to $1mm from PMI, has already had a very positive impact to StrikeForce through PMI's purchase of the assignment of the convertible notes from Yorkville Advisors (formerly known as Cornell Capital), before year end 2010. The assignment also includes a change from an 80% of bid conversion price to a fixed and other beneficial modifications that aid in growing the future value of StrikeForce. Yorkville Advisors is now fully paid-off (an 8K was filed last week announcing this event) and no longer holds any notes, liens, warrants or any position relating to StrikeForce," says Kay. This is a major accomplishment for StrikeForce, allowing the company to be positively positioned to achieve its true growth potential and valuation during 2011 for the first time in almost seven years, combined with projections to become cash flow positive approximately by mid-year based on this funding combined with current contracts.

"We are greatly looking forward to working with StrikeForce," says a spokesperson for PMI. "StrikeForce is truly a 'leading-edge' technology software manufacturer in the security market, who invented both 'Out-of-Band' Multifactor Authentication (as evidenced by their Letter of Allowance for their Patent) and a Keystroke Encryption & Anti-Keylogger product (patent pending). We look forward to working closely with StrikeForce for the benefit of both companies and all the shareholders."

About StrikeForce Technologies:
StrikeForce Technologies helps to prevent identity theft online. Its products help protect consumers and their families while banking and shopping online, and businesses in "real time" against data loss and breaches. StrikeForce Technologies, Inc. (OTCBB: 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.

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