Zerify Provides Company Update – GuruFocus.com | Panda Anku

EDISON, NJ, Aug. 23, 2022 (GLOBE NEWSWIRE) — Zerify, Inc. (OCTQB: ZRFY) (“Zerify” or the “Company”), the 21-year-old cybersecurity company focused on secure video conferencing solutions, today announces provided a corporate update on the Company’s activities to coincide with the Company’s filing of second fiscal quarter financial results for the quarter ended June 30, 2022. The Company’s Form 10-Q is available through the US Securities and Exchange Commission (SEC) website, www.sec.gov.

Mark Kay, Chairman and CEO of Zerify, comments:

“While revenue declined sequentially from Q1 2022, we also recognize that the process of rebranding StrikeForce Technologies to Zerify went well beyond the mere name and icon change. Our transition to secure conferencing and the conversion of our existing product lines required significant attention and resources that might otherwise have been focused on growing our revenue.

“However, we continue to develop new capabilities and build important partnerships that will help drive our business forward. Among them is a recent statement of intent to develop the industry’s first artificial intelligence chatbot with built-in secure video conferencing capabilities. Zerify and PureTalk.AI are collaborating on a joint call for a US government grant to improve opportunities for people with disabilities of all kinds. This grant would be used to increase workforce engagement through cyber solutions that would allow a person to securely engage with chatbots to apply for and secure employment. Actions such as filling out job applications, securely video conferencing with prospective employers and working remotely would be possible through this partnership. This technology has significant applications beyond the grant, including retail customer service and, most importantly, healthcare.

“Although quarterly sales have declined sequentially from $32,000 to $24,000, we are actively working to close the sale with a number of customers, many of whom are in the final stages of contracting to become resellers of our Zerify solutions. In the meantime, we expect PushForce, which has already integrated our Zerify Meet API into its custom CRM, to launch shortly. We are also working closely with Zentech, our Brazilian reseller who provides an IT marketplace for banks, insurance companies, financial services companies and ISPs, to integrate our GuardedID product into a suite of services to be offered to the insurance industry. You have already identified a first customer for this bundled product.

“Regarding our current Zerify Meet product, we are expanding the technology to include breakout rooms, an Outlook email plugin, network recording and Active Directory synchronization. We will also add audio and video alerts for Mac to our Zerify Defender product.

“We believe that a dramatic transformation is underway for Zerify and our progress on a number of initiatives, particularly in relation to partnerships, will provide multiple inflection points for the company’s future growth and position us as a leader in secure conferencing, viz in both widths and deep penetration of the market. We recognize that there will be bumps along the way, including fluctuations in revenue from quarter to quarter, but believe we are well positioned for the future of this business and provide optimal shareholder value,” concludes Mr. Kay.

About Zerify
Zerify, formerly StrikeForce Technologies, helps consumers, businesses and government agencies prevent cyber theft and data breaches. It provides powerful two-factor out-of-band authentication and keystroke encryption along with mobile solutions. Headquartered in Edison, NJ, Zerify can be reached by phone at (732) 661-9641 or toll-free at (866) 787-4542.

Safe Harbor Statement:
The matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. As 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 may differ materially from those intended, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the Company’s expectations and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties related to: the sale of the Company’s identity protection software products in various channels and market sectors, the issuance of the Company’s pending patent applications, COVID-19 and the impact of economic, competitive and other factors affecting the Company and affect its operations, markets, products and distribution performance; the impact on the national and local economy as a result of acts of terrorism and subsequent US actions; and other factors identified in reports filed by the Company.

Investor Relations:
CORE IR
212-655-0924

ti?nf=ODYyMzM0MyM1MTA1OTE0IzIwODAzNDc=
Zerify-Inc-.png

.

Leave a Comment