Georgi Kamburov

Will Strikeforce Technologies Inc (OTCMKTS:SFOR) Keep Its Gains?

by Georgi Kamburov July 26, 2016

Although at first glance this truly seems as a gargantuan success for the company upon closer inspection things start to look far less impressive. First of all SFOR had to use over $4.1 million in order to pay the fees related to the settlement litigation. That still left them with proceeds of more than $4.5 million and it allowed the company to pay off some of its outstanding convertible debt. The shareholders still suffered through a disastrous amount of dilution, though, when in less than six months the outstanding shares grew from 22.7 million to over 2.2 BILLION.

The quarterly report states that by March 31 1.8 billion shares had seen the light of day at prices ranging from $0.000058 and $0.0008 while according to the subsequent events section since the end of the quarter SFOR has issued 313 million shares as a conversion of accrued interest on notes with variable conversion features and 155 million shares as a cashless exercise of warrants.

Last month SFOR announced that it has started patent litigation against three new major companies but that doesn't make the red flags any less serious. If you determined to trade the stock do extensive due diligence before committing to anything.

In early trading today SFOR is still crashing hard currnetly trading over 17% in the red at $0.00.19

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