Strikeforce Technologies Inc (OTCMKTS:SFOR) Soaring On Fresh Hacking Fears

Strikeforce Technologies Inc (OTCMKTS:SFOR) Soaring On Fresh Hacking Fears

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Strikeforce Technologies Inc (OTCMKTS:SFOR) has gone up huge today rocketing up more than 80% at the time of writing. In light of the enormous scandals that have hit the media cycle recently – Experian and Yahoo – SFOR is deserving of some renewed attention.

SFOR’s designed a suite of services to provide anonymity of your personal and financial information – ProtectID, GuardedID, and Mobiletrust products protect against thieves and hackers with the intent to steal personal information. Many companies have allegedly borrowed this IP and in March press, SFOR announced patent violation lawsuits against Gemalto, Vasco Data Security, Entrust Datacard and SecureAuth Corporation.  “We can sit by and watch competitors use our patented inventions without permission, or we can do something about it.  We’ve decided to do something about it,” said Mark L. Kay, StrikeForce CEO in the company press release.  “We think competition is healthy, but competitors should create their own original technology, not use what we developed.”

Strikeforce Technologies Inc (OTCMKTS:SFOR) trumpets itself as a software development and services company in the United States and internationally. The company owns the right to develop and license various identification protection software products to protect computer networks from unauthorized access, and to protect network owners and users from identity theft. Its cyber security products include ProtectID, an authentication platform to authenticate computer network users by various methods, including traditional passwords combined with a telephone, iPhone, Droid, Blackberry, PDA, or multiple computer secure sessions, biometric identification, and encrypted devices; and GuardedID that prevents the use of spyware/malware to collect user information.

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Increasing security and locking up corporate databases is going to continue to be a theme in boardrooms around the world. So, cybersecurity companies with legitimate IP are going to be in demnad and SFOR will see even more attention in the coming months.

“There has been an increasingly sharp rise in cyber-attacks recently with many international corporations being hacked.  This increase in cyber-attacks and the strengthening of regulations, such as the FFIEC in the financial market and HIPAA HiTech and Electronic Protected Healthcare Information (ePHI) in the healthcare market, are prompting an exponential increase in the use of ‘Out-of-Band’ Authentication,” stated Mr. Kay.  “In light of our having been granted the ’599, ’698 & ’701 Patents, and with increased activity in various markets by enterprises, government agencies and social media, StrikeForce will aggressively continue to protect its intellectual property rights and maximize shareholder value.”

Strikeforce Technologies Inc (OTCMKTS:SFOR) is in a sector that is growing. The company is having a huge and many more could be down the line. Every time there is a data breach or hacker story on the nightly news like the WannaCry Hack, I would be checking this share price. The company’s press is something to keep on an eye as well, since it usually  shoots the stock up and a pullback seems to naturally follow. However, the pattern here is interesting and we will be providing updates, especially as the lawsuits take shape. For continuing coverage on shares of $SFOR stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $SFOR, either long or short, and we have not been compensated for this article.

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