EDISON, N.J., April 17, 2020 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTC PINK: SFOR), the “Company”, a unique Cyber Security Company announced today that it is taking the initial steps necessary to up-list to a major exchange.

It is the Company’s intention, although there can be no guarantees, to up-list to a major exchange in 2021 and it is taking the necessary steps to position itself so that it can accomplish its goal.

StrikeForce Technologies has always been a fully audited and reporting public company. On March 31, 2020, the Company announced in a Current Report on Form 8-K that it will be unable to file its 2019 Annual Report on Form 10-K by the original deadline of March 30, 2020 due to circumstances related to COVID-19. The Company is pleased to alert its shareholders that it plans to have its annual report filed on Form 10-K within the time frame permitted which will allow the Company to maintain its fully reporting and current status.

In efforts to clean up its balance sheet, the Company recently entered into an agreement with Sycamore Capital, a partner of Continuation Capital (“CCI”), to which CCI agreed to enhance the cash position of StrikeForce for the purpose of consolidating certain debts of the Company.

In order to help propel us to a major exchange and to enhance our ability to raise capital, we also plan on a small restructuring in the form of a 1 for 500 stock split, which we believe will give us a boost to achieving the minimum trading prices that the major exchanges require. Additionally, the Company will be reducing its authorized shares allocation by 3 billion shares.

Mark Kay, CEO of StrikeForce commented, “Creating value and sustainable growth for our shareholders has always been our top priority. As we take these initial steps by cleaning up our balance sheet and slightly restructuring our equity, we are paving the way for our future and the ability to compete with the major Cyber Security firms. As always, we will make every effort going forward to keep its shareholders informed of its progress as it takes all of the necessary steps to achieve its goals.”

About StrikeForce Technologies, Inc.
StrikeForce Technologies helps to prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication and keystroke encryption along with mobile solutions. StrikeForce Technologies, Inc. (OTC PINK: SFOR) 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.

Corporate Contact Info:

StrikeForce Technologies, Inc.
​Mark L. Kay, CEO
(732) 661-9641
marklkay@strikeforcetech.com

Media Contact Info:

StrikeForce Technologies, Inc.
George Waller
(732) 661-9641
gwaller@strikeforcetech.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.