It will be very interesting to see how shareholders of StrikeForce Technologies, Inc. (OTC: SFOR) react today after the Company reported their 2012 year ended results after Thursday’s close. Reporting revenues which were nearly 2X those from 2011 and losses of just over $1 million compared to over $5 million, SFOR stock has already been on an incredible run, up 431% since early February, anticipating these results. While Mark Kay and the rest of the management team have done a fine job over the last 12 months plus, how much impact will the increase in authorized shares have on the better than positive financial results?
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SFOR Stock Quote
Market Cap: 2.60M
Last: 0.0085 (No Change)
Dollar Volume: $6,783
Issued and Outstanding: 425,093,218
14-Day Rel Strength: 58.80%
14-Day Stochastic: 64.20%
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StrikeForce Technologies has made a significant impact on their niche of the market by:
• Delivering affordable flexible & redundant authentication for Banks, Corporations, Universities, Gov’t agencies & Social Networking Websites;
• Encrypting your keystrokes when you bank, shop and email online. GuardedID’s Premium version will also protect your desktop applications such as MS Office, VPN clients & IM programs; and
• Offering the most advanced security suite for Apple & Android mobile devices, protecting user credentials, passwords, online transactions and access to corporate networks
Offering a suite of integrated computer network security products (patented and patent pending) using their proprietary technology, StrikeForce Technologies booked $805,312 in sales for the year ended December 31, 2012 versus $448,127 for the year ended December 31, 2011, all of which came from the sales of the Company’s security software products. The increase in the sales came off of the Company’s GuardedID® keyboard encryption (anti-keylogger) technology and their ProtectID® (“Out-of-Band”) technology.
But wait….here’s the best part….
Gross profit for the year ended December 31, 2012 was $790,799 compared to $422,701 for the year ended December 31, 2011, an increase of $368,098, or 87.1%. KaBooooom!
Cost of revenues for the year ended December 31, 2012 was just $14,513! $14,513! Most people spend that amount over the course of a year at the bar or in drive-thru eating at fast food joints. And to think, the year before, when StrikeForce Technologies generated just $422,701 in revenues, the cost to generate those sales was a mere $25,426 for the year ended December 31, 2011 – that’s less than what 90% of people renting in the U.S. spend on their annual rent.
Even better news was that selling, general and administrative expenses for the year ended December 31, 2012 were $1,096,033 versus $5,152,834 for the year ended December 31, 2011, a decrease of $4,056,801 or 78.7%! This was mainly how StrikeForce Technologies was able to decrease their net loss for the year ended to $1,167,908 compared to a net loss of $5,487,053 for the year ended December 31, 2011 (Dude, that’s a decrease of $4,319,145, or 78.7%!)
To celebrate the incredible turn around, the Company is planning to increase the total number of authorized shares of SFOR stock from 750,000,000 to 1,500,000,000. Ouch! $455,750 was generated over the course of 2012 through the sale of SFOR stock in order to finance StrikeForce’s operations.
While SFOR stock looks to have a decent run so far this year, it has traded as high as 0.072 two years ago when revenues and net losses were nowhere near as good as they were for the year ended December 31, 2012. However, with more than $10 million in total liabilities and Asher Enterprises involved in a significant portion of the convertible debt, the recent run on SFOR stock and impressive fiscal 2012 could be on for the shelves to have on watch to see how shareholders react.
About SFOR Stock
StrikeForce Technologies, Inc. is a software development and services company that offers a suite of integrated computer network security products using proprietary technology.
Click here to view the SEC filings for SFOR.
Click here to view the website for StrikeForce Technologies.
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Sales growth and better bottom line numbers are the driving force behind the recent momentum SFOR stock has seen. With the numbers now official, SFOR has earned a spot on the list of sub penny stocks to watch with a strong buy recommendation if the shares get down to that 0.0016 level again like they were in February.
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