Strikeforce Technologies Inc (OTCMKTS:SFOR) has been slowly moving up in the stock market, despite no updates from the company, for over a month. The company last filed a press release when it announced its financial results for the 2Q2016. Since then, the stock has gained more than $0.005 per share, in the stock market.
The company reported a 66.8% improvement in revenue, on a year-over-year basis. SFOR noted that the revenues would only increase further, as they move ahead. Strikeforce updated that it was experiencing a growing demand for its boxed and mobile products, both in stores and online. The CEO of SFOR, Mark Kay, revealed that the company and its sales channel have been working to secure retail and enterprise contracts. He also stated that this was mainly attributable to increase in GuardedID and MobileTrust sales.
Kay also revealed that the company was going to continue its litigation against three companies, concerning its Out-Of-Band patent. Although the nature of the litigations is costly and unpredictable, SFOR believes it would be successful. It should be noted here that Strikeforce previously sued Microsoft Corporation (NASDAQ:MSFT) and even won. However, this does not mean it would be successful again.
Analysts see Strikeforce as a leader in the prevention of cyber theft, which is considered to be one of the fastest growing technology sectors. An article in the July edition of Credit Donkey, the FCC pointed out that there had been a 350% increase in mobile security threats, since 2010. This is related to the company’s latest business segment.
Earlier in August, SFOR launched its MobileTrust v3, a comprehensive mobile security application, for Android and iOS devices. The five main features of the application include a patented keystroke encrypted keyboard, a secure browser, a password vault, one-time passwords and a password generator. The product is aimed at stopping keyloggers from hijacking a user’s financial and personal information.
Strikeforce Technologies Inc (OTCMKTS:SFOR) closed at a share price of $0.00945, at the end of the September 21 trading session, 19.62% higher than the day before, on a trade volume of 54.35 million.