Zerify Inc (ZRFY)

[dukeb]

It's an interesting question, really. The most recent Q (since we still don't have the K) shows assets of $ 91,000 and liabilities of $ 17.5 million.

The problem for Mark is that there is a note payable to a "related party" (Mark) and accrued interest to a related part of $ 1.7 million. That might also be due to Mark. He doesn't want that liability discharged so why bother with BK.

Mark will Just keep issuing shares and put that money into his pocket. ZRFY is his personal piggy bank. End of story.

Still no 10K. Any chance a bankruptcy is coming?

[surfkast]

No bankruptcy. Just an ongoing scam.

[Cartmontster]

Still no 10K. Any chance a bankruptcy is coming?

[Cartmontster]

Are you new to this company and it being a scam? Been this way for 20+ years.

[Propain]

yes, just a dirty f'in liar.

[dukeb]

Remember when Mark stated that one of the reasons he chose Zerify as the company name was because it was a one syllable word?

I remember when he said that.

“We wanted a name that would be a single syllable, and ‘Zerify’ came across very well,” he said. “We feel like we have a great name and now we are moving forward as best we can,” said Kay, adding that despite the name change, the stock symbol, SFOR, will remain the same for now waiting for FINRA to implement the name."

[dukeb]

Mark lies constantly about ZRFY's products.

Here's a link where he claims that "Room Lock" is a feature that is unique to Zerify Meet.

https://finance.yahoo.com/news/zerify-releases-innovative-room-lock-115700401.html

It's a lie. When the announcement came out I checked with the big players in the online meeting space and every one of them (except one, IIRC) said they've had that feature well before ZRFY added it to Zerify Meet.

BTW, the reseller touted in that announcement, 323Link has Zerify listed on their web site, but they only mention the crappy Zerify security products. For video meetings they list Jitsi, Highfice, GotoMeeting and WebEx. Why would a company like 323Link risk its reputation selling an known product like Zerify Meet? My money says the product was never installed in the Tennessee Courts.

Because Mark is a liar.

[carusso]

You’re right; I’ll try harder next time ;- {

In pondering the etymology of this unusual word construction, I’m leaning toward the ancient Kurdish s^ev (can’t do diacriticals here properly), meaning “apple”. Deca of course, ten. So “Ten Apples”.

Seems auspicious enough, but…

Oh well, what a Refreshing New Age when everyone can go along and make stuff up like “Zerify”, that no one ever heard of before. Innovation indeed…

[Propain]

I bet they can't get any certifications either. I don't see anything on the website regarding FIPS, Common Criteria, APL, CNSA 1.0 and 2.0....nothing.

So, in conclusion, this is a scam.

The ProPain

[dukeb]

The products exist so they're not vaporware. But they have no value.

No IT professional in their right mind is going to tell their boss (or their customer) that Zerify Meet, a company that is hanging on by its toenails, is a better choice when compared to Microsoft Teams, Google Meet, Zoom, GotoMeeting ot the myriad of other more established choices that are on the market.

When the blockchain started to gain traction, Zerify (then SFOR) claimed to have a way to protect people's coins. Did that product ever generate revenue? Not a dime as far as I know.

When Covid lockdowns forced businesses and government to conduct virtual meetings, Zerify announced their solution. Did that product ever revenue? The company doesn't break down revenue by product category. The 3rd quarter report shows 2023 total revenue was on track for a run rate of $ 88,000. For the entire year. After 20+ years of being in business.

Mark's total compensation for 2022 (the most recent figure available) wa $ 288,000 (down from $ 841,000 in 2021)
Waller's compensation was the same as Kay.
Ram's compensation was the same as Mark and Waller. His 2021 compensation was $ 2.9 million.

For a company that maybe brought in $ 88,000 last year.

F'in ridiculous.

[Propain]

Vaporware.

[dukeb]

LOL. It's Sevideca, not Sevetica. There was at least one PR where Mark provided an incorrect name of whatever company ZRFY had supposedly partnered with but in this case he got the name right.

Mark lies with such frequency and aplomb that it's difficult to keep track. The whitelist nonsense was one thing, but separately there was the announcement of July 23, 2023 headlined: Zerify Signs Multi-Million Dollar Licensing Agreement For its Secure Video Conferencing Service.

Highlights:
* Zerify is pleased to announce the signing of a multi-year multi-million dollar licensing agreement with a prominent industry leader.
* 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. 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.
* “As you can see from the above, the stars have been lining up in our favor, and its finally time for us to shine. We look forward to providing more information about the partner and opportunity as we get closer to the launch,” says Kay.

Every word of the above is a lie. The 90 day window to reveal the name of the "prominent industry leader" would have taken us to October of 2023. Was the name announced? NOPE.

BTW, looking at the Sevideca web site it appears they are trying to push ZRFY crappy products through multi-level-marketing. Click on the "Join Now" button and you are asked to select whether you want to be a "Brand Ambassador" or an "Account Executive." That reeks of stanky MLM garbage to me.

NO ONE is going to sign up for that shitty white label trash. The products are crap. ZRFY has failed trying to sell direct to customers, if the deal with TDSynnex had generated meaningful revenue you know Mark would have been crowing about it. The Sevideca deal is meaningless.

And Mark is delinquent with his SEC filing obligations for the 2023 10-K. I'm sure he doesn't want the numbers seen because revenue for the year will likely amount to less than Mark's paycheck for a month.

[Propain]

They should partner with $HMBL ! LOL.

[carusso]

This is yet another “Bridge Too Far”, for Mark to have claimed the White Label deal was a name everyone would recognize. This Sevetica DID NOT EVEN EXIST JULY 2023!!!

Is anyone willing to confront him about this?

[dukeb]

Looks like his last name is Schmaeling.

Mark Kay banking the future of the company on a guy who graduated from college last year? That tracks.

And it looks like maybe Joey got his little brother to do the company web site.

What a joke this company is. A joke that pays its execs 6 figures each.

[Cartmontster]

Where in this LinkedIn profile do you see anything impressive?
https://www.linkedin.com/in/joseph-s-26b806205

He can't even put his last name on the profile!
He just got out of college last year with a degree in Political Science and you're betting on him?
Name one sales organization he took to $100M.
You do know about the Reverse Split coming... right?

[dukeb]

One of Kay's announcements from 2023 was a partnership with Synnex that has relationships with many thousands of IT resellers in US and Canada. And the results of that partnership? Well, we don't know because Mark missed the deadline for filing the 10-K for calendar year 2023.

ZRFY's products are crap. The web site that Sevideca is something that a middle schooler could have put together.

This is going nowhere.

[skipsvalue]

Well, I will give them till the end of the 3rd qtr, before I get to your state of mind. I'm not disputing any of your claims, but I have a feeling this is the one to turn them around. The head of Sevideca has an impressive track record of building a number of sales organizations to over $100 million in sales, he is the one I'm betting on. In addition, this patent infringement plan could yield huge awards for the Company, they were informed that 42 other companies tried to patent keystroke encryption but were turned down because ZRFY owns the patent. Tomorrow could shed some light on this, fingers crossed. In all I hear you, just hoping for the best, it's been a while.

[dukeb]

Nope. Another Mark Kay scam.

News white label deal multi million dollars

[dukeb]

You beat me to it.

The Sevideca web site shows their address:


Which is a virtual office space


Another "non company" partner that will have no more success selling Zerify's crappy solutions than Zerify had trying to sell the solutions themselves.

Mark the lying scammer just trying to keep those paychecks coming in.

[Cartmontster]

Kay files an 8K before his 10K which is now late beyond the NT.

Sevideca
From LinkedIn
Company size
2-10 employees
4 followers

Address shows it is "Virtual" office space
Your business address will be here:
The Realm at Castle Hills Virtual Business Address

Just registered with the Texas Secretary of State on October 3, 2023

Youtube video

Face Book
5 followers

Just another BS post by Kay to make people think they have revenues coming. There isn't a Fortune 500/1000 that would do business with this small
couple person "company."

[surfkast]

There are no deals! Go back under your rock. This is doing a R/S and will lose tons of value before common investors can sell! LOLOL!

[skipsvalue]

News white label deal multi million dollars

[dukeb]

The NT 10-K is just another Mark Kay lie.

While it would be nice if the late filing caused the SEC to take action against ZRFY and shut the scam down, you can be sure that Mark will do everything in his power to make sure the gravy train of bloated salary and benefits will continue ad infinitum.

[Anvil]

It was due yesterday. With leap year, it was actually due on the 14th, 15 days from March 31st. Due to weekend, it was due on the 15th

[Cartmontster]

NT filed on April 1st. Today, the 16th, is 15 days.
I don't see it on Edgar yet.

[carusso]

Good memory!

[Cartmontster]

I guess they are waiting until the end of the day.

[dukeb]

EDGAR shows that the 10-K for 2022 was filed on April 14, 2023 (after filing an NT 10-K, of course).

The 10-K for 2019 was filed late: May 1, 2020. The SEC probably provided extra time given the COVID situation.

Editing to add: The oldest 10-K that I see on EDGAR is for the year ending 12/31/2008. That year revenue was almost $ 300k. That same report shows that revenue for the year ending 12/31/2007 was more than $ 650k.

Revenues bumped up to $ 412k in 2009 then fell to $ 266k in 2010.

And a reminder that in 2020 revenues were $ 193k and in 2021 they fell to $ 103k.

Each and every year Mark and his amigos collected health 6 figure salaries plus benefits.

[Anvil]

Mark doesn’t care if he files on time, IIRC he filed a month late last year

[dukeb]

The 2023 10-K is due on Monday or Tuesday of this coming week. It should be interesting to see if it says anything about the patent troll strategy.

Since ZRFY owes money to the people who financed the earlier round of patent trolling any licensing fees that roll in would go to the original financiers until that debt is satisfied.

Who would be foolish enough to finance a new round of trolling since the bulk of any money coming in would go to the earlier lenders?

Mark doesn't care since his monster salary is paid no matter what.

[Cartmontster]

More than likely just more fake news... fake PR's to keep people buying and paying his six figure salary.

[carusso]

So the “news” about going after 20 big infringers of their patents, was evidently a dishonest attempt to ‘soften the blow’ of their premeditated Reverse Split.

Vile trio.

[surfkast]

Probably clowns who listened to an asshole.
The asshole is you
1000 - 1 RS. .LOLOL

[dukeb]

Assuming the 1:1000 brings the share price to $3.50 it's going to be shorted down to $ 2.50 within days. Then slide back into pennies within months.

And yes, the 10K will be a disaster. I'd be surprised if it total year revenue is over $ 50k. As Mark and the two other criminals draw 6 figure salaries for sitting on their duffs.

Calendar 2019 revenues: $ 768k
Calendar 2020 revenues: $ 207k
Calendar 2021 revenues: $ 193k
Calendar 2022 revenues: $ 103k
Calendar 2023 revenues: $ ???

[Cartmontster]

We do our best to warn people.

With the RS... we can assume the 10K coming soon is going to be a dog... AGAIN!!!!

[dukeb]

Mark screws over shareholders once again.

Prior splits:

Jun. 25, 2020 1:500
Aug. 04, 2015 1:1000
Feb. 13, 2015 1:650
Mar. 18, 2014 1:1499.9
Nov. 03, 2008 1:10

Now another 1:1000

Tally these reverse splits up over the last 16 years and the result is someone will have 1 share for every 4.8 QUADRILLION shares they owned in 2008.

From the filing:

Upon the Effective Date of the Reverse Split, the Company is expected to have approximately 4,675,630 shares issued and outstanding, assuming a 1:1,000 Reverse Split depending upon the effect of rounding up fractional shares, after implementation of the Reverse Split, and will have One Billion (1,000,000,000) shares of Common Stock authorized.

So less than 5 million will be outstanding with a 1 billion share A/S. As new shares are issued that money will go straight into the pockets of Mark and his band of thieves.

And still no word about the miracle partner that was supposed to be named in October of 2023. Probably because the existence of that partner was one of Mark's many fever dreams.

Absolutely shameless.

[lakers17]

Congrats on yet another great OTC call. LOL Charts in the OTC and in a trips play? I have never seen someone wrong 90% of the time. Pick a new hobby.

[Chartmaster]

Surprisingly there are plenty of buyers at 3's, I'm out, broke even

[Cartmontster]

Man... that is going to suck for so many.

How are you getting "out" when no one will be buying with this news?

[Chartmaster]

1:1000 RS, I'm out at 3's
https://www.otcmarkets.com/filing/html?id=17445597&guid=uGQ-kFfG89wfJth

[Chartmaster]

4bid x 5ask with 2mill traded PM in OTC!!! Launch now imminent!

[Chartmaster]

Wow! 433mill bidding for 3's yet no 3's trading today, you gotta pay 4's to play here now!

[dukeb]

Unless Mark or his cohorts blatantly violate an SEC regulation I don't think the scam is going to stop. Mark always surrounds his pie-in-the-sky projections with "I can't guarantee anything" or words to that effect. He's not stupid. Quite the contrary. He has found a way to provide himself with a lifetime of income while doing virtually no work.

The only way I see this stopping is if people stop buying shares when ZRFY prints new shares. The company will quickly run out of cash and the operation gets driven into receivership. Another route is if the derivative lawsuit that was filed causes the company to run out of cash by paying lawyers and/or damages.

There are plenty of OTC companies that behave just as badly or even worse. The SEC doesn't play a role.

[Cartmontster]

All good and valid points. Surely the SEC has to see the same company doing this over and over and over.
There has to be, in my mind, a point at which they tell Mark "no more."

[Huggy Bear]

No.

[dukeb]

The SEC wants compliance, but they give companies some flexibility if meeting the original deadline will create a hardship.

In ZRFY's case, it's hard to grasp how another 15 calendar days will make a difference given the simplicity of the business. Almost no revenue, the same extravagant salaries and other operating expenses. How difficult is that to tally up? Answer: Not very.

In theory the extra days give Mark extra time to include items in the Subsequent Events section of the report if, by some miracle, one of the blockbuster deals he has been promising for 20 years happens to come to fruition.

The odds of a deal closing by April 16 are next to zero so it's really just Mark's way of delaying bad news. You would think he would be used to it by now since he's delivered nothing but bad news since he became the CEO. No one with a brain believes a word he says anyway.

[maronti1]

Corrupted and maybe he have an Angel there
Paid off?
Every one that still own shares..must report this clowns...Criminals

[Cartmontster]

I just don't get how the SEC allows this to happen with every 10Q and 10K for 20+ years.

[dukeb]

ICYMI: Mark filed the NT 10-K on April 1. He has until Tuesday the 16th to file the K.

Nothing but good new in that report, I'm sure 🤪.