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surfcast, it is called dilution. probably not a settlement given that SFOR has no money, no revenue, no customers and no real business. People in these lawsuits will let them play out to the end. the odds that SFOR will still be in business a year from now are no better than 50/50
I don't get the buzz on this. someone bought 10% of SFOR for probably $35,000 +/-. That equals 8 days of cash needs. whether it is sold through the markets or in a private placement it is dilution. They may be smart investors, but so were the firms that have now more than $12 million of convertible debt in SFOR. they never dreamed their investment would turn to debt. This is not enough money to make any difference. The company needs $1,000,000 + to get to a point where they can spend to promote their products. that is really the only way that we would find out if there is any real market interest. The revenue at SFOR is so low because they have no reach and no voice (except for the useless PR's that they release on a regular basis)
good call and yes I did use that word. My bad
I would not call the webex a hoax but it was horribly amateurish in content. The financials are horrible and the CEO should just say that. The "guidance" for revenue is as wide as the ocean and I don't know if you all caught it but the Waller guy includes in his revenue guidance any legal settlement. That is even more troublesome as any legal $$ recovery would go to the Other Income line and not the revenue line. This guy is a joke if he believes that proceeds from a lawsuit are counted as revenue.
We are 22 days past the end of Q1 and all we have heard so far is that 2 resellers have increased their "nominal" Guard software sales by 84%. If the CEO wants to create both goodwill and credibility he could announce Q1 right now and give an honest and candid view of the business.
This is not a scam, I just think it is a dead company that wont die until they cannot sell anymore stock. Then they will try to dump their patents, pay their debt holders including the CEO and the shareholders will get wiped out....AGAIN.
This is a pretty typical SFOR press release. No substance, no data, no facts other than 84% but they at least do say that the increase comes on top of "nominal" levels with 2 resellers. I thought maybe they would break the trend and release substantive information. I wonder if one of the resellers is the multi-level marketing company that is using you tube videos? who knows, who cares
Here we go. It takes 14 weeks for SFoRd to report Q4 results but miraculously Q1 is "leaking" 2 weeks after the quarter?? NICe job SFORD management leaking out results on this forum.
Goodinvestment, where did you get this information. Now that you have leaked it you might as well tell us where it comes from.
So the keystroke encryption is up from a few thousand dollars to a few more thousand dollars. Who cares, obviously not the SFOR customers who are staying away in droves
The mobile products have been still born, with no shot at getting traction in the hyper competitive mobile security space populated by real companies with real technology, real revenues, real earnings
14 year old company that is insolvent and has never made a profit. can you even imagine that? 14 years without a profit. an amazing stint of incompetency.
OT this is the worst performance ever for this company. There is no magic bullet with mobile. If anything, mobile is much harder to get traction on than PC software. I don't understand why they don't just file bankruptcy and start over.
OH WAIT... I do know why. Then all of the insiders would lose their preferred stock, the $12 million in debt would get washed out and even though the company would be better off with a fresh start, the CEO would have to write off his investment. So instead of stepping up and doing the right thing, he just keeps stealing money from investors.
This is the worst performance in the pathetic history of this joke of a company.
this is pure dilution happening. 10% new shares in the last 2 days. So the stock is down 60% from the split and another 10% based on dilution.
and remember everyone, until the share price is over $4.00 shareholders will get nothing in an acquisition based on +$12 million in secured debt and management preferences.
Wow, the stock has now dropped 75% post split. worse, the company still needs cash so the dilution will kick up something fierce. It is looking more and more that Scotland is right in his constant banging of the company. still very strange that they have not filed their year end numbers. something weird going on here.
Would love to have Pensionrecovery weigh in right now. He is the most bullish on SFORD and continues to believe that there is something here worth owning. A 75% drop in 2 weeks is a really bad sign that this company is dead but still selling shares. It has been legally insolvent for a long time but seems worse now.
and for the poster who asked if they could sell their patents. the answer is NO. The worth of a Patent is in direct proportion to the amount of revenue it can generate. which makes the SFORD patents both very real and very worthless
They do less revenue in a quarter than your local coffee shop yet they need more than 90 days to file their year end numbers. This is an amateur operation no doubt.
http://ih.advfn.com/p.php?pid=nmona&article=61656254
Bobinsd I think your take is completely wrong. BR is the law firm handling the SFORD legal actions. SFORD is paying vendors in Stock and maybe the license deal is a Payment In Kind (PIK) deal. even if it is for cash, BR could not buy more than a few hundred licenses which is a few thousand dollars. If you are going to own SFORD shares get used to meaningless press releases that announce a partner deal, don't spell out the scope of the deal or the dollar value. This is pretty standard procedure for them. most companies do not announce every single small deal but SFORD does.
anyone concerned that the statutory reporting for year end results is next Monday but the company has not announced when they are releasing? Do we think that they will do another 1 way webex where they present but no questions can be asked?
The previously issued Keystroke Patent, which was much ballyhooed, has generated about $0 revenue in the 2 years. So now we can look forward to them doubling their keystroke value.
Nice PR, what I would really like to see is Q4 and 2013 results. I want to see how much cash they stockpiled pre reverse split by selling 4 billion shares in Q4 2013 and Q1 2014. Also since Q1 is over in 3 days be nice to get some guidance
Verizon, ATT, Samsung, Apple and most others offer FREE mobile security software. the biggest player is Lookout with Anchor Free close behind. both have more than 50 million installed users. and oh yea, both are real companies, they are not insolvent, have not wiped out their investors TWICE, have no debt and are highly rated. So is avast, AVG and others. SFORD is not going to be able to compete. But what they will do very effectively is dilute the shares by 100 fold yet again over the next 2-3 years, issue monthly PR's about small deals that create no revenue, and continue to pay themselves very well all the while continuing to lose money every month.
I have been reading these posts for 3 years, every day/week/month there is a new dream about how this company will be successful. that was 2 reverse splits ago and dilution of more than 7 BILLION shares.
Let me remind everyone that the biggest players in mobile security like Lookout with 50 million users and big contracts with Verizon, Samsung, etc. have FREE software. SFORD will have an almost impossible time first of all competing and second selling their software app. There is not going to be any meaningful mobile software revenue this year. I would define meaningful as $100,000 per quarter revenue on the mobile apps.
also, $5 per share is a pipe dream. you make it sound like the only reason the share price is so low was the share structure and the outstanding amount. The company is insolvent with $12 million of preferred debt. Shareholders will never get any value from this stock other than bounces. It is a sewer
Pension I will say this you are consistent. The company never hits a target, never delivers on a promise and as I have said many times is legally insolvent. they only are alive because people keep buying the stock. Their mobile technology may in fact be good, but the mobile security space is very crowded and SFORD technology is based on the same PC technology that doesn't sell, so where is the upside. remember a month ago when we learned that the company's big sales initiative was to hire a multi level marketing company to sell their product via youtube ads? This is a paper mill. YOu keep telling us all of the things that may happen, and none ever do. The CEO said in mid-November that revenues would be a minimum of $180,000 in Q4. Even that level is pathetic, but lets see where they come in at.
last, I believe that the law suits are a jump ball. they have all been going on more than 1 year and no settlement which means that they are not a slam dunk. These patents SFORD has may be real, but they may also be worthless like most patents are.
Once again though, I admire your consistent belief in the company and the management team. you are their biggest supporter
Pension you are a smart guy and your posts are always precise. You keep saying that the RS is good because it gives the shares a chance to appreciate. The problem for SFORD is clear. First, they have a revenue problem. This is not a new problem. They are a 14 year old company losing millions every year and their revenue is still under $700,000 annually. Second, their balance sheet is terrible. No cash, $12 million in preferred debt, $40 million in cumulative losses an they only way to stay alive is to sell shares, lots and lots of shares. last year alone more than 6 BILLION shares. So reversing the stock has no impact on the revenue or the balance sheet. it is a short term "start over" to give management a chance to start diluting all over again. Third, the preferred debt wipes out all shareholders so the only way to make money on this stock is to ride one of the periodic bounces it has and get in and out. There is NO value for investors until the shares are worth more than the Preferred debt which will likely never happen. finally, management controls 80% of the voting stock so this is really a public stock only for the purpose of selling shares to the public to finance the cash shortfall that the company experiences every single month, month in and out, quarter in and out, year in and out. By all other standards this is a privately controlled company and by every legal standard the company is insolvent
Trucuzzn I think you hit it right. they sign 2 deals with firms that they owe money to, firms that they are likely paying with stock, so signing deal might pump the stock and help the payment side. these are deals for a few hundred licenses, they don't mean anything in terms of revenue for SFORD.
CID this is an easy one to read. 14 year old company, never made a profit, $40 million in losses, 2nd reverse split in 5 years, common shareholders wiped out again but the great news is that management is the same through all of this. They are really great and talented team and sometime in the next 14 years believe that they will have figured it all out.
As I have said many times, this is the greatest Next week, next month, next quarter and now according to Pension 3 quarters from now stock ever. None of it ever comes true, and in fact there is an almost certainty that by the end of the year there will be likely more than 40 million shares outstanding as they will have to sell a few million each month to finance losses and the more the sell the more the stock will go down I price. Since they only get 70% of the proceeds from sales the dilution will hit hard and fast.
The only news that I believe they can post pre or post split is a strong Q4. The CEO has already gone on record as saying it will be at least $180,000 in revenue which would mean about a $200,000 loss for Q4. I would think good news would be in the range of $300,000 in revenue and a sub $100,000 loss. If it is less than $250,000 then I would think they "maneuvered" the revenue to show progress.
If they do that I would grudgingly give them props. But in my 3 years they have never once hit a quarterly forecast even though they make them halfway through the quarter
Why doesn't anyone mention that they sold more than 3 billion shares into the market in January and February.
The company has to dilute. that is the only way that they can cover operating expense. if their share price is .20 cents after the reverse split they will need to sell about 800,000 share to cover monthly expenses or a 20% dilution right from the start. That is why management kept the authorized shares at 1.5 Billion on an outstanding share base of +4 Million
The dilution machine is being tuned up as we speak.
STill no 2013 year end report. Very, Very strange.
Lehman had real revenues, real commerce going through their company. SF is a paper mill whose only product strategy is inane and blatantly false and misleading press releases. 2nd reverse split in 6 years coming up, same management, same strategy, nothing changes other than shareholders get wiped out again for the 2nd time.
But rejoice, management does not get affected by the failure. they get new contracts and keep 80% voting control of the company.
I will see you in 3 years when they have lost another $15 million, and sold and diluted another 7 billion shares.
Many of you do no speak this peculiar language called Strikeforce PR so let me help you decipher this latest press release
1. "We are in the process of MINIMALLY finalizing 2 distribution contracts that were formalized at the show". In Strikeforce language that means that they have NO NEW signed deals, and have not signed a new deal now in over 6 months, but they have a few people that have some minimal interest and may do a deal.
2. "along with over a dozen additional qualified leads". In Strikeforce language what he is saying is that about 1 dozen people swiped their badges as they walked by the booth which for SFOR is a big deal
3. "We received another Notice o Allowance form the Patent Trademark Office for our 3rd OOB Patent". In Strikeforce language what he is saying is that this 3rd patent will likely be as useless as the first 2 which have been issued for now going on 3 years and still produce NO REVENUE AND CUSTOMERS. Another patent, still likely no revenue
STrikeforce language is difficult to learn. It takes years of reading nonsensical PR"S like the one issued today that give absolutely no concrete news, no real new customer relationships, no tangible facts, but oh man don't they sound very impressive and official.
I hope you find this translation helpful
I think DUMP is the right word. this has been a dump stock. bad info from the CEO, outright misstatements and lies, continuous bad results. A 14 year old company that keeps trying to convince shareholders prosperity is around the corner. Instead, 2 reverse splits, $40 million in losses, $12 million in debt which basically wipes shareholders out pre and post split and miserable results....unending miserable results.
I am sure there will be some sort of BS announcement in the next few days to try to give this dead cat a bounce. that would be following the CEO playbook.
Oh did I mention that management is not affected by the 1500 to 1 reverse split? They keep 80% voting control of the stock and do not have to run anything by shareholders, even a buyout.
Kill a company...keep control. Do it again...keep control.
Who are the real fools. SHAREHOLDERS
For 3 years I have read posts that say be patient, buy on weakness, buy on news, etc. The company stock is down 99.99% in that time. The only thing that will drive the stock price is real metrics, revenue, earnings, cash flow. As soon as they split and the shares are reset at 4.3 million they have to sell 1 million to just pay the monthly bills. So the dance starts all over again. I would bet that there will be 40-50% dilution by the end of q2, and that might be very optimistic.
The company needs to stop issuing inane press releases and "company updates" as the are misleading (press releases) and never true (company updates)
Just create real revenue and real earnings.
wizard. post reverse split company will have a $600k market cap. they have $12 million in preferred debt so the first $12 million of an acquisition goes to debt holders.
what are the chances that they could get an offer of more than a few million dollars?
ZERO
All your points are very valid. I guess time will tell.
Pension, interesting theory...except. Your premise is based on the opinion that SFOR is going to go up to .0007 between now and the revers split. WHY? THe stock has been at .0001 - .0002 for almost 5 months. Why would it go up? If anything it will stay at this price because it is likely post split to go down. SFOR is going to immediately start selling shares to raise cash and the dilution will start all over again.
Last point, I am annoyed that they have not announced full 2013 results. my personal tax return is probably more complicated than SFOR. They have so little revenue, so little employees and other accounting issues that there is no reason not to announce. I know they have until the end of March, by why do they need that much time other than the results are very poor and they don't want to announce them prior to the reverse. The CEO is on tape in early December saying that Q4 will be at least $180,000 in revenue so lets see what the results are. Optimistic Trader has inside knowledge that he posted last week that they somehow generated a lot of cash from something other than selling 3 Billion shares in January and February. Be interesting to see that as well. Fact is that they did sell 3 billion shares in the last 2 months to get ready for the RS. Before the RS, show us the results. let's see if the CEO was truthful or BS'ing us again.
SFor is the world greatest NExt week, next month, next quarter, next year stock...EVER. Even though it is down 99.9% over the last 2 years, even though we are being crammed down with the 2nd reverse split, even though this 14 year old company has never made a profit and lost cumulatively more than $40 million of shareholder money, even though it has $12 million of preferred debt that will ensure shareholders never get a penny of return, even though SR. Management has 80% voting rights and is not affected by the reverse split and lastly even though they have almost no revenue....there are still people on this board that think something special is going to happen with the stock.
I truly applaud your persistence
JohnnyZ there are about +/- 7 BILLION shares outstanding. Company went from 300 million to 7 BILLION in about 4 quarters. They never say how many are issued and they don't have to. Mgmt. has super voting shares that give them 80% of the vote so when they want more authorized shares, more issued shares, they simply approve it themselves. THEY win...WE lose
OT where are you getting this information. You always seem to have inside info that could only come from senior management so I am really interested in how you can make this statement
A lot of "what ifs". THey have never generated any revenue, pre or post patents. The company seems inept in that way.
Fireye is an enterprise software company. It is not mobile, it is server side software protecting corporate infrastructure.
It continues to amaze me that people don't understand why SFOR is at .0001. The company is insolvent. If they don't sell 1 BILLION shares per month at todays price they cannot stay in business. the shareholders that keep buying this other than the MM's are buying into losses. The company has a market cap of $600-700k and $12 million in preferred debt. Shareholders can only make money off a bounce but will get nothing if the company is sold. Now how they get sold with almost no revenue is another thing. The patents are real, but based on the revenue they generate they are worthless or nearly so. The stock price is exactly where it should be and post split, it will wander back to this territory.
What news is everyone expecting next week? I think the big signal right now is that they are not announcing Q4 prior to the reverse split. They don't have to report until the end of March but since revenue is likely very low they surely have the results by now. Likely that Q4 was another disaster (remember they were saying in the Q3 earnings announcement that Q4 would be $150,000 to $400,000 in revenue as their guidance and since the Q3 call was in mid-November they should have had a very good handle on it) So they won't announce earnings so what is the big announcement that you are all expecting?
this stock at .0001 is exactly where it should be. Company is insolvent, never made profit, $12 million in debt that is preferred over shareholders in any outcome.
Maybe they are going to announce another 1 Billion facebook customer promotion?? Maybe the official announcement that their new salesforce is a multi-level marketing company that uses youtube as their channel?
Fireye is an enterprise software company not a consumer company and their software protects corporate environments. It is a very successful company with more than $200 million in revenue. There is not any comparison between fireye and SFOR.
Allmuck. Those "half assed" companies all do revenue above $100 million, make a lot of money and don't screw over their shareholders. I only wish SFOR could be "half assed" like that, we would all have a lot more money. SFOR has been unable to sell their technology software. What should that be telling us?? That they are unlucky?? NO. That people just don't understand the value of their software?? NO
Big companies and little companies have the same opinion. It is worthless, just like SFOR stock
So Lets say they get bought for $1.10 post split. GUESS WHAT? Shareholders will get NOTHING. The company has $12 million in debt that gets paid before any shareholders get any value. So post split they would have to sell above $3.10 per share or shareholders will get wiped out...AGAIN
Lazyeye I share your opinion of the management team. i was pointing out that virtually all mobile security software is free and SFOR thinks they can sell theirs for + $80 is absurd. Of course many on this forum will think it is genius and buy more shares.
This is unbelievable. Virtually all mobile security software is free. AVG, Anchor Free, Lookout all have more than 60 million installed apps. SFOR is going to charge $7 per month? That is nonsense but typical of this company. And they are giving away 10 shares of Preferred stock? WOW, at todays price that equals 2/10ths of 1 WHOLE PENNEY. WOW.
These guys are a bunch of knuckleheads.
And to the previous poster who has charted SFOR press releases and come up with the Tuesday prediction...NICE. Most people chart earnings and revenue. This is the first I have ever heard of someone charting which days a company releases PR's
Allmuckmojo you make some good points. let me just tell you that I checked, this is the 5th year SFOR has been at RSA. That has done nothing for their business. The need for security is ongoing, it did not just happen, it has been happening for more than a decade. hundreds of companies have been acquired and IPO'd. Still SFOR sits here with almost no revenue and a stock price of .0002 likely on its way back to .0001 where it belongs. The market continues to tell SFOR that they have no interest in their products, which is testament to their revenues (very low). The company stock price hurts it for sure, so does their balance sheet ($40 million in losses, $12 million in debt, .0002 stock price). No impactful company would do business with SfOR for a lot of reasons but likely the most important one is that their technology doesn't match up with market standards. If it did, the stock price would not be .0002 and the company would not be going through the 2nd reverse split at 1500 to 1 and it's revenues would be growing not declining. There is no Press release that can solve this issue for them, just performance. I don't think they have a chance.