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Thursday, October 29, 2020

Strikeforce Technologies Inc (OTCMKTS:SFOR) Shares Spike 33% on Heavy Trading Volume

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Strikeforce Technologies Inc (OTCMKTS:SFOR) is a micro-cap stock in the cyber security space that continues to be a favorite among OTC traders. SFOR provides constant wide-range action and big percentage swings, as well as a buzz-worthy tone and topical flow in the press release column. That said, the stock had been taken a hit in recent trade as investors react the company’s most recent full-year 10-k filing.

Management is working to spin the results as an upbeat signal, but there is no convincing the market right now, which shaved about 50% out of share prices in immediate reaction to results. That said, one must apply a little perspective. While the company has a long and checkered history of share creation and dilution – one of the real legends of the game in that department – the stock is in fact up about 1000% in the past year, and the financial data shows an increase of $112,730 or 41.5% in overall sales. According to the company, the increase in revenues was due to “the increase in demand for our ProtectID®, GuardedID®, and MobileTrust® security software, maintenance and support sales.”

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.

The company’s cyber security products also comprise MobileTrust, an iPhone/iPad and Android device password vault that includes a password generator, as well as provides for Mobile Multi-Factor One Time Password authentication; and GuardedID mobile software development kit. In addition, it provides software and hardware that are contractually licensed from other vendors, which include VASCO tokens, as well as additional authentication and telecommunication software devices.

The company was formerly known as StrikeForce Technical Services Corporation and changed its name to StrikeForce Technologies, Inc. in September 2004. StrikeForce Technologies, Inc. was founded in 2001 and is based in Edison, New Jersey.

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The company put out a “State of the Union” press release, likely to help the market digest the 10-k data. As we see it, there was nothing wrong in the report. But the stock was up 575% into the report just in year-to-date terms. That’s an astounding jump for a lumbering heavyweight with a trading float over 2.3 Billion shares. It’s not surprising to see anything short of about 200% sales growth end up producing a long-awaited pullback.

In the “address”, management gives us a solid round of cheerleading:

“2017 is our year for potential meaningful revenues, especially through our channel partners that already are working with many sizeable companies. StrikeForce should minimally realize their results in the second half of this year. This year we also have progressed with our retail consumer sales through those we listed in social media and our new TV airing this month for GuardedID and MobileTrust, with all leading to possible strong success in 2017. We are now growing in the Enterprise and Retail Markets in a big way and are on target to sell licenses for all of our products.”

“StrikeForce projects 2017 to be our year, for which we are increasing in Enterprise and Retail sales as Cyber Theft and Data Breaches increase greatly and are now being taken much more seriously by all. The projected increase is also based on documented Cyber Security increased budgets across all markets.”

Even with the recent decline, we’ve witnessed 44% in PPS gains just during the past month. Moreover, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 170% beyond what we have been seeing over the larger time frame.

At this time, carrying a capital value in the market of $39M, SFOR has a bankroll ($1.2M) of cash on the books, which stands against about $4.5M in total current liabilities. SFOR is pulling in trailing 12-month revenues of $443K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 139.7%. As more color becomes clear on the name, we will review the situation and update our take. 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!

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