EDISON, NJ--(Marketwire - Nov 14, 2012) - StrikeForce Technologies (OTCBB: SFOR) today reported its 3rd Qtr. 2012 Financial Results, which shows continual increases in its gross revenues and product development.
StrikeForce's gross revenues for the three months ended September 30, 2012 were $289,515 compared to $137,535 for the three months ended September 30, 2011, an increase of $151,980 or 111%. The increase in revenues was primarily due to StrikeForce's recurring gross revenues, maintenance payments and the increase in sales of our software products as a result of the implementation of new contracts executed in the first, second and third quarters of 2012.
StrikeForce's gross revenues for the nine months ended September 30, 2012 were $642,596 compared to $286,695 for the nine months ended September 30, 2011, an increase of $355,901 or 124%. The increase in gross revenues was primarily due to sales of our security products.
"StrikeForce continues to remain on target with its gross revenue guidance provided in 2nd Qtr. 2012. StrikeForce continues to execute on its current strategy of concentrating in the financial, healthcare and technology markets in selling its products through its growing international distribution channel and directly," says Mark L. Kay, CEO of StrikeForce Technologies. "With the numerous announced data breaches and articles stating that the fraudsters are now focusing on banks and credit unions, as reported by the Verizon 2012 Data Breach Report and reports such as Bank Info Security's article, 'Citadel Trojan Tough for Banks to Beat,' on November 12, 2012 and many other identity theft articles, StrikeForce's 3rd Qtr. 2012 reported financials continue to show increases in gross revenues that we project to continue to grow throughout 2012 and beyond mainly based on executed contracts."
StrikeForce is pleased to announce the Company's 3rd Qtr. 2012 10Q live public WebEx Presentation on Thursday, November 15th at 2PM EST, where Mr. Kay will walk through a presentation of the 3rd Qtr. 2012 results, the status of our Patents and our 2012 full year business outlook continuing into 2013. Anyone interested in attending, or with any questions relating to our 3rd Qtr. 10Q filing, please email your questions and or request to Q3Review@strikeforcetech.com to then receive your official invite and link.
Detailed financial data and other information are available in StrikeForce Technologies, Inc. Form 10Q on the StrikeForce website (starting November 15th) and www.sec.gov, for the nine month period ending September 30, 2012.
ABOUT STRIKEFORE 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 and keystroke encryption solutions. 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.
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.