StrikeForce's revenues for the three months ended March 31, 2012 were $184,654 compared to $100,805 for the three months ended March 31, 2011, an increase of $83,849 or 83.2%. The increase in revenues was primarily due to the increase in sales of our software products as a result of the implementation of several new contracts executed in the first quarter of 2012 and continual increases in significant contracts signed in 2011 and prior. The gross revenues for the 1st Qtr 2012 are 14.4% greater than the 4th Qtr 2011 gross revenues for the same reasons.
"StrikeForce is executing on its current strategy of concentrating in the financial, healthcare and technology markets in selling its products direct to customers and through its growing international distribution channel," says Mark L. Kay, CEO of StrikeForce Technologies. "With the numerous announced data breaches as reported by the Verizon 2012 Data Breach Report and other publications noting almost daily identity theft events, StrikeForce reported financials are starting to show the continual growth in gross revenues that we project that will continue to grow throughout 2012 and beyond," continues Kay.
StrikeForce is pleased to announce the Company's first live public Webex Presentation on Tuesday, May 22nd at 1PM EDT, where Mr. Kay will walk through a presentation of the 1st Qtr 2012 results, inclusive of explaining the details of the recently reported 8K, the status of our "Out-of-Band" Patent and our 2012 business outlook. Anyone interested in attending please email your request to Q1Review@strikeforcetech.com to then receive your official invite.
ABOUT STRIKEFORE TECHNOLOGIES, INC.
StrikeForce Technologies helps to prevent online identity theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, 'Out-of-Band' authentication and keystroke encryption solutions. StrikeForce Technologies, Inc. (SFOR.OB) is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or by phone at (732) 661-9641 or toll-free at (866) 787-4542.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Mark L. Kay