Zerify Inc (ZRFY)

[BettingAngles]

SFOR Stock is currently worthless according to the latest filing:

Common Stock



During the six month period ended June 30, 2016, the Company issued an aggregate of 2,260,252,983 shares of its common stock as follows:



· Convertible note holders converted $143,123 of principal, $49,560 of accrued interest and $386,352 of additional interest, or a total of $579,035, into 2,105,237,983 shares of common stock at conversion prices ranging from $0.000058 to $0.0008 per share.






· An investor processed a cashless exercise of 30 warrant shares into 125,000 shares of the Company's common stock. The investor received an additional 154,875,000 shares of the Company's common stock as modification consideration, valued at $185,850, and recorded as the fair value of shares issued for services in general and administrative expenses.






· The Company issued 15,000 shares of common stock for services, valued at $38.

ALSO, Investors are making SIDE DEALS for pennies just to get out:

In April 2016, the Company executed a settlement agreement with an investor relating to outstanding warrant agreements issued in conjunction with convertible notes that were repaid by the Company in January 2016. Per the terms of the settlement, the investor processed a cashless exercise of 30 warrant shares into 125,000 shares of the Company's common stock, valued at $150, and recorded as financing expense. The investor received an additional 154,875,000 shares of the Company's common stock as modification consideration, valued at $185,850, and recorded as general and administrative expense.

ALSO SFOR is selling off the Company's assets before they become worthless:

Asset Sale and Licensing Agreement



On August 24, 2015, the Company entered into an agreement with Cyber Safety, Inc., a New York corporation ("Cyber Safety") for Cyber Safety to license, and retain an option to purchase, the patents and Intellectual Property related to the GuardedID Ò and MobileTrust Ò software. In conjunction with the licensing and the option to purchase, Cyber Safety loaned the Company $408,000 in 2015 and $75,000 in 2016, of which a total of $450,000 has been repaid in 2016 (see Note 5).




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Cyber Safety has the option to buy our GuardedID Ò patent for $9,000,000 that expires on September 30, 2020. At June 30, 2016, the Company does not have an estimate if Cyber Safety will exercise its option to make the purchase. Cyber Safety will also resell our GuardedID Ò and MobileTrust Ò products, for which we will receive a royalty, while we retain an unlimited license to resell those products.



As a condition of the asset purchase agreement, Cyber Safety will license the Malware Suite (as defined in the Asset Purchase Agreement) up to and until September 30, 2020. Pursuant to this license, Cyber Safety shall pay the Company 15% of the net amount Cyber Safety receives, as defined, which amount may be increased to 20% under certain conditions for ProtectID Ò , and is subject to reduction for commissions and support costs that Cyber Safety will be obligated to pay to the Company.



In March 2016, Advanced Cyber, a subsidiary of Cyber Safety, agreed to pay the Company $25,000 per month as a license fee in conjunction with Company's agreements with Cyber Safety. Included in revenue for the three and six months ended June 30, 2016 is $90,000 and $100,000, respectively, of license revenue from Advanced Cyber. At June 30, 2016, the total license fee receivable due from Advanced Cyber was $100,000.

FUNNY, these figures don't show up anywhere but in this statement.

AND THIS:

EXPENSES: Compensation, professional fees, and selling, general and administrative (collectively, "SGA") expenses for the three months ended June 30, 2016 were $419,176 compared to $355,679 for the three months ended June 30, 2015, an increase of $63,497 or 17.9%. The increase was due primarily to the increase in salaries and related payroll taxes resulting from salary increases implemented in January 2016 and an increase in warrant expense. SG&A expenses consist primarily of salaries, benefits and overhead costs for executive and administrative personnel, insurance, fees for professional services, including consulting, legal, and accounting fees, plus travel costs and non-cash stock compensation expense for the issuance of stock to non-employees and other general corporate expenses.

INCOME: Revenues for the three months ended June 30, 2016 were $126,890 compared to $76,076 for the three months ended June 30, 2015.

They are in too deep..



http://www.otcmarkets.com/stock/SFOR/filings