Strikeforce Technologies Inc (OTCMKTS:SFOR) has provided an update on the company’s financial strategy. The cyber security firm stated that it began the year with a strong financial position. The company has identified four areas, through which it can maximize its revenues for the year.
The announcement was made by Mike L. Kay, CEO of SFOR, who stated that the first thing the company aims to do is to expand litigation strategy for its ProtectID Out-of-Band authentication technology. He further affirmed that the strategy has proven to be successful. The CEO also revealed that SFOR would be increasing its cooperation with its distribution partners. He particularly pointed out Advance Cyber Securities Inc, with whom SFOR has signed a $9 million deal for the purchase of GuardedID and MobileTrust technologies. However, the payment is to be made by September 30, 2020.
Added to this, the CEO also announced that the company would be making its marketing strategy more consumers focused. Strikeforce has already launched a new website and begun an extensive social media campaign, focused on the two lead products GuardedID and MobileTrust. Finally, the company is also engaging Big-Box retailers, like Target, to further expand their customer base. The CEO remained quite optimistic about the year ahead and stated that the management expects to gain success in all of these areas, but cannot guarantee it.
Despite several achievements, the shareholders remain pessimistic about the stock. This is mainly due to the fact that there is no well defined share structure of the company and the stock is heavily diluted. The severity of the condition is evident in the fact that SFOR has conducted two reverse splits in 2015. However, the CEO has clarified in his update that the company does not have any plans to conduct another reverse split during the year.
Strikeforce Technologies Inc (OTCMKTS:SFOR) had a trade volume of 233.7 million and lost 7.14%, during the April 5 trading session, to close at $0.0013.