Zerify Inc (ZRFY)

[surfkast]

10-K/A 07/06/2023 12/31/2022 PDFRTFHTMLXLS
10-K/A 06/27/2023 12/31/2022 PDFRTFHTMLXLS
S-1 06/15/2023 PDFRTFHTMLXLS
DEF 14C 06/13/2023 06/13/2023 PDFRTFHTMLXLS
PRE 14C 05/25/2023 05/25/2023 PDFRTFHTMLXLS
10-Q 05/15/2023 03/31/2023 PDFRTFHTMLXLS
253G2 05/05/2023 PDFRTFHTML
SUPPL 05/02/2023 PDFRTFHTML
10-K 04/14/2023 12/31/2022 PDFRTFHTMLXLS

https://www.otcmarkets.com/stock/ZRFY/disclosure

[dukeb]

LOL The guy who comes down on me for saying that last year's 10K was filed on April 17 when it was actually filed on August 14 says that I'm splitting hairs.

iHub is a fun place to be.

[Chartmaster]

Finally getting some 3's filled for me here! 4mill 3's today!

[Cartmontster]

Now you are splitting hairs. The point, my point was that they have never filed on time without an extension.
I think everyone would have understood that but I'll make sure, in the future, to dumb things down for you.

[dukeb]

We agree that last year's 10K was filed on April 14, 2023.

As far as the SEC is concerned, they were "on-time" if they filed before the 15 day requested extension expired.

So last year's 10K was filed "on time" according to SEC rules.

Mark will do anything to keep the gravy train from stopping.

[Cartmontster]

In the years that I have followed, they have never filed anything on time.

Do you know of a particular filing that was on time?

[dukeb]

I will stand corrected. April 14th it is.

Do you stand corrected by this statement?

They haven't filed a 10K or 10Q on time... EVER!

[Cartmontster]

Recheck your data... Edgar clearly has their filing on April 14.

https://www.sec.gov/edgar/browse/?CIK=1285543&owner=exclude

[surfkast]

Try reading the financials. They keep raising their salaries and keep issuing/converting shares.
Their revenue is a joke.

[shotsky]

If you think officers of public companies can just dip into the treasury, you are ignorant of how public companies work. They can get money two ways - selling their personally owned shares and by a salary. It's 'public' because the public owns it, and their shares are proof of that.

[dukeb]

If you believe this web site: https://www.securexfilings.com/sec-deadlines/

then the 10-K for the year ending December 31, 2023 isn't due until April 1. With a 15 day extension that carries them until April 16. Last year they filed the 10-K at the deadline, April 17, 2023. (It's one day earlier this year because 2024 is a leap year).

And yes, Mark is full of sh*t. He issues those projections for YUGE revenues periodically so he can sucker people into buying shares...which ends up in the pockets of the 3 amigos.

The company should shut down and Mark should spend his remaining years choking on the money that he stole from the investment community. If anything is left over after he croaks, Mark's heirs should set up a restitution fund to partially remove the taint of Mark's legacy.

[Cartmontster]

This has been their way of life for 20+ years.

They haven't filed a 10K or 10Q on time... EVER!
Last year for 2022, they filed the 10K on April 14.

[skyrocketinsight]

That is the only way they can pay the bills.

Look at these huge losses
2022- $8,808,000 (LOSS)
2021- $17,199,000 (LOSS)
2020- $10, 043,000 (LOSS)
2019- $3,528,000 (LOSS)

Now look at Total revenue

2022- $103,000
2021- $193,000
2020- $207,000
2019- $768,000

Now look at all of the expectations of Mark Kay on revenue. Government contracts etc.
This all IMO spells complete BS.

This only spells .0001 (no bid), expert Market or DELISTING! They still have not filed their 2023 year ending filing. How long before the SEC makes an example of this company on the expert market.

[dukeb]

From the most recent 10-Q

Note 7 – Contingent Payment Obligation

On September 6, 2017, the Company entered into a litigation funding agreement with Therium Inc. (subsequently Therium Luxembourg) and VGL Capital, LLC (collectively the “Funders”) for financing of $1,500,000 from the Funders to allow the Company to pursue patent enforcement actions against alleged infringements of its patents. In exchange for the financing, the Funders are entitled to receive (after the payment of legal fees), the first $1,500,000 from the gross proceeds of any claims awarded, 10% of any additional claim proceeds until the Funders have received an additional $7,500,000, and 2.5% of any claim proceeds thereafter. The Funders are to be paid only if the Company achieves recoveries of claim proceeds.

At September 30, 2023 and December 31, 2022, the Company has reflected the $1,500,000 received from the Funders as a contingent payment obligation to be paid only if patent enforced claim proceeds are recovered.

ZRFY still owes funders money from the last time they went on an (unsuccessful) round of patent litigation.

At least Mark knows how to start the PR with a joke:

EDISON, N.J., March 07, 2024 (GLOBE NEWSWIRE) -- Zerify Inc. (OTC PINK: ZRFY), an industry trailblazer in cybersecurity, particularly renowned for its secure video conferencing and endpoint security solutions, has initiated a proactive approach to capitalize on its patent assets and address instances of infringement.

Trailblazer? HAHAHAHAHAHAHAHA

Renowned for its video conference and endpoint security solutions? HAHAHAHAHAHAHAHA

Total revenues for the first 9 months of 2023: $66,000.
SG&A during the same 9 month period: $ 2,124,000
Loss from operations: $ 2,489,000

Let's take a look at ZOOM Video Communications
Revenue for the most recent quarter. $ 1.14 BILLION
Gross profit of $870 MILLION.
Net operating income: $ 168 MILLION

Mark is hoping to create some interest so he can dump shares. That will bring in cash that will go directly into his pocket.

People are onto your scamming ways, Mark. Shut the company down and GTFO.

[dounome]

I told ya.

[carusso]

Now they’re resurrecting the Patent Infringement claims…

[maronti1]

The 3 criminals are dumping shares like mad

Sad they are still on the loose
What will it take for this trio to go to jail?
Every shareholder(I am not one )
Needs to contact the SEC. Every day
And end this Gang once and for all

[surfkast]

Mark Kay is a liar! Period.

[dukeb]

What would really be nice is if Mark would provide some solid guidance on the super duper million dollar deals that he has been promising since last summer. Hell, he hasn't even named the "partner" even though he said he would do so in the October, 2023 time frame.

I just took another look at their most recent Q for the period ending September 20, 2023.

$ 91,000 in assets
$ 16,000,000 in liabilities (I removed the derivative liability since that's skews things a bit).

9 month revenue of $ 66 thousand
9 month SG&A of $ 2.2 million
9 month operating loss of $ 2.5 million

For a company that keeps talking about it being more than 20 years old. 20 years of almost non-existent sales, exorbitant salaries, multi-million dollar losses and Mark's flapping gums.

[carusso]

That would be Nice!

[dounome]

Let's Go ZRFY, Time to get rolling up. Up we go.

[GigantorX]

Only a matter of time.

What has happened before (6 or mor times) will happen again.

It's Liar Kay, what do you expect?

[dukeb]

Fortunately the market seems to realize that Mark has no credibility.

We still await the name of the company that was going to take Zerify to the promised land. That name was supposed to be revealed in October of 2023.

Like everything else that comes out of Mark's maw, that was a lie.

[Cartmontster]

Same old BS from Kay.
https://finance.yahoo.com/news/zerify-updates-shareholders-key-developments-125700094.html

[jpike]

Price of the stock says a lot.

[carusso]

Nothing would surprise me with these selfish, idealistic, non-businessmen.

[Cartmontster]

IF it was real... and IF it would impact the shareholders... an 8K would be required.
Probably Kay having people pump this in a different way.

[carusso]

Agree, but it’s like some very industrious investors reading everything available and trying to connect the dots; so, maybe not to where the company has to declare publicly yet, IF it’s even “real”…

[Cartmontster]

I think there would need to be an 8K for something like that.

[carusso]

Some people on StockTwits saying Zerify tech has been incorporated for rollout into Cisco’s Webex.

[maronti1]

Like candy .dump dump
Soon with 4b OS
Wow

[carusso]

Turning our stomachs…

[Penny2Dime]

Turning point?!

[maronti1]

Diluting Pigs

[dounome]

Come on ZRFY what's the problem.

[carusso]

Thanks very much.

If you are not on StockTwits, please consider joining, as I know your insights would be highly valued there.

[dukeb]

ZRFY (then SFOR) had a company financing the patent litigation. The contingent liability to pay that company back is still on the balance sheet.

This time the lawyers fees are being paid by the shareholders. The company is anything but awash in cash...shares being issued all the time just to pay the salaries and benefits of the 3 amigos. I wouldn't expect Mark is too happy to take his limited amount of money raising ability only to have the lawyers take it. That's rightfully Mark's money for all of his hard work. /s

[Anvil]

Probably a year to 3 years, this things drag out. But it is not something that will settle, it will go to court. Much different than a patent dispute

[carusso]

Any idea when a final decision will be made? Or is the judge’s leaving some issues in, code language for telling Zerify to settle the case?

[Cartmontster]

They actually put out an 8K regarding this. If it's not happening three months from the October date, I think there should be some form of communication regarding it. Good find Dukeb!

[dukeb]

Reminder that Mark Kay released this PR on July 20, 2023. Emphasis added. 90 days would be the 3rd week in October, 2023. It's now the 3rd week of January, 2024. If the deal fell through, shouldn't Mark Kay say something? I mean, the contract was going to have a "far reaching impact on Zerify."

EDISON, N.J., July 20, 2023 (GLOBE NEWSWIRE) -- Zerify Inc., (OTC PINK: ZRFY), the 22-year-old cybersecurity company focused on Secure Video Conferencing & Endpoint Security is pleased to announce the signing of a multi-year multi-million dollar licensing agreement with a prominent industry leader.

“This is a major milestone for Zerify and its shareholders,” says Mark L. CEO, “as it demonstrates the need for secure video conferencing in today’s connected world. While we cannot disclose the identity of our esteemed partner until they launch in approximately 90 days, as it states in the contract, we can assure all Zerify stakeholders that this deal will have a far-reaching impact on Zerify.”

“The agreement stipulates that Zerify will receive a minimum of $600,000 – $900,000 per year for the next five years, for a total amount of $3,000,000 - $4,500,000,” says Kay, “however, based on our partners industry dominance, revenues should be much higher than that. Additionally, while they will launch in the US to start, they are already making plans to launch throughout Europe and Asia.”

“We have been working on this deal for over a year now, and it couldn’t have come at a better time for us” says Kay.

Source: https://finance.yahoo.com/news/zerify-signs-multi-million-dollar-115700629.html

[surfkast]

Racing to .0001! 6/6 billion more to dump!

[carusso]

Don’t say that, please.

Don’t even think it.

Banish the thought.

[dukeb]

End of the month is coming up quick. ZRFY needs cash to make payroll.

Happens pretty much every month. No secret what is going on here.

[maronti1]

They may need to reverse again..
At this pace
Crooks

[carusso]

Only a Brontosaurus, would be capable of a dump this size

[maronti1]

Wow

What a Dump

[dukeb]

Yes, perhaps but your point is unclear. Are you suggesting that if the plaintiff had read the 2 decades worth of SEC filings that they would have been smart enough to avoid dumping money into this crapfest?

If that's your point, then I absolutely agree: No one in their right mind should be stupid enough to put money into ZRFY.

Perhaps you should take that reading comprehension course as well.

[trackkwizzard]

"to criticize the plaintiff's attorney" ???

Perhaps you should take that reading comprehension course
as well.

[carusso]

Thanks, dukeb.

My question was for Anvil, but I appreciate your take, also.