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StrikeForce Technologies Announces Signed Contracts and Pilot ProgramsOffers Insight Into Its Expanding New Business Pipeline (May 25, 2011)
EDISON, NJ -- (Marketwire) -- 05/25/11 -- StrikeForce Technologies (OTCQB: SFOR), an innovator in the prevention of online Identity Theft and Data Breaches for enterprise, financial services companies, government and consumers who utilize its patented and patent-pending protection products, today announces recently signed contracts and existing pilot programs, and also offers a glimpse into the company's expanding new business pipeline.
StrikeForce currently has signed revenue generating contracts, either directly or as a component of a bundled security package, with the following high-profile corporations:
- a known, global Wall Street financial services firm (trades on the NYSE with more than $2 trillion of assets) -- providing secure log-in and other capabilities for the firm's Private Banking clients;
- one of the world's larger, publicly traded anti-virus/online security software companies (more than 4,000 employees, with revenue exceeding US $1 billion) -- providing protection against anti-keylogging malware for its customers;
- one of North America's largest broadband internet providers -- offering StrikeForce's GuardedID® keystroke encryption anti-keylogging product to its clients as part of an integrated online security bundle;
- other major clients and sales channel partners including ID Vault, Intersections, ITIQ Solutions, Security Bit by Bit, Greenware, FNB Merchants, and other top-tier reseller and channel distribution partners -- providing them with internet security solutions for their resellers and customers .
"The marketplace is approving of our products' capabilities," said Mark Kay, StrikeForce Technologies' CEO, "and the recent very high-profile online data breaches that have been in the news -- including RSA, Epsilon, Sony and others -- only serve to increase our confidence in our ability to meet or exceed our steep growth targets. With almost daily news of new data breaches, and as the regulatory environment rapidly moves to diminish these breaches by incorporating the security protections provided by our products into their protocols, requests for pilots and quotes are rapidly increasing. Some examples include international enterprises looking to replace keyfob tokens with our One Time Password (OTP) and Out-of-Band Cloud Services; government integrators & agencies, and companies in the healthcare, financial and technology markets are looking for layered solutions that our proprietary products uniquely provide. Many of these are driven by regulation, the need for increased security and cost reduction. We believe that this coalescence of circumstances validates the decision made by our existing clients to boldly move forward with a responsive upstart in the online security software community, and I look forward to being able to share with you the various exciting additional contracted business in the near term, once we are permitted to do so."
The company's revenue model is a license model that delivers a high quality income stream, generated from initial sales revenue, as well as significant recurring revenue to the company and value to its shares. The company's suite of products -- GuardedID® a keystroke encryption program; ProtectID®a patented 'Out-Of-Band' authentication protocol which is being driven by regulatory authorities for financial, healthcare, government, e-commerce merchants and credit card companies; and IDGeniea mobile security program based on the iPhone and iPad; are designed to protect customers, employees and partners in real time and at every vulnerable point of their online interaction.
"Our sales pipeline continues to grow through the strong efforts of our sales channel partners. We believe that increasing rapid adoption by the marketplace of both our patent-protected 'Out-of-Band' authentication product and our patent pending keystroke encryption anti-keylogging product, combine with our solid new product pipeline to make us uniquely positioned to provide long-term solutions to both clients and prospects, while adding value to our shareholders," concluded Mr. Kay.
StrikeForce Technologies helps to prevent identity theft online. Its products help protect consumers and their families while banking and shopping online, and protect businesses in "real time" against data loss and breaches. StrikeForce Technologies, Inc. (OTCQB: 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.
StrikeForce Technologies' Contact
BlueWater Advisory Group, LLC
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