Zerify Inc (PK) (ZRFY) Quote

OTCM acted quickly. Did they respond to my report?

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Pink Limited Information

Delinquent SEC Reporting

Warning! Limited Information

OTC Markets Group has confirmed that this company has limited disclosure or financial information publicly available, but meets a minimum requirement for public quoting under Rule 15c2-11. The Pink Limited Information tier may include companies that are delinquent in their filing obligations with the SEC, a foreign exchange or regulator, or under the Pink Disclosure Guidelines, as well as non-U.S. companies listed on a foreign exchange that does not require English disclosure and do not certify their compliance with SEC Rule 12g3-2(b).

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

Good one! LOL

Those Wall Street Analyzer "interviews" are a hoot. SFOR paid a fee to WSA to be "interviewed." And yet the piece winds up with:

WSA: ...we’d like to thank you for taking the time to join us today Mark and update on rest of our audience on StrikeForce.

Mark Kay: That’s great Juan. Thank you so much for the opportunity, I enjoyed doing this.

Should have been"

WSA: "Thanks for hiring us to promote your company, Mark."
Mayk: "I hope the fee our company paid and the exposure to new cucks means that people will keep buying shares!"

A little history.

Nothing has changes since 2012. Kay lies!


https://ih.advfn.com/stock-market/USOTC/strikeforce-technologies-pk-SFOR/stock-news/84339449/emerging-growth-conference-scheduled-for-february

https://www.globenewswire.com/news-release/2017/08/02/1070993/0/en/StrikeForce-Technologies-CEO-s-Summer-Interview.html


https://stockdaymedia.com/news/uncategorized/uptick-network-interview-with-ceo-mike-kay-with-strikeforce-technologies-inc/


http://www.protectingid.com/investor.html


https://wallstreetanalyzer.com/2014/06/10/strikeforce-technologies-otcbbsfor-ceomark-kay/


https://wallstreetanalyzer.com/2013/07/26/strikeforce-technologies-otcbbsfor-ceo-mark-kay/

Yup. And Mark';s PR from August 18, 2021: https://www.globenewswire.com/en/news-release/2021/08/18/2282671/0/en/StrikeForce-Projections-for-2021-with-Sales-and-Marketing-Strategy.html

For the entire year of 2021 we are excited to announce our anticipated Projections of just under $1m after a slow start in the 1st Qtr. of $46k. This projection is based on current available information and some sales to date with reasonable projections for the rest of 2021. This includes our reseller channel sales and individual sales through our website and sales made directly through the Company. While we are confident that we will meet our projections, there can be no assurance of performance.

Total revenue for 2021: $ 193,000. In Mark's mind, "just under $ 1 million" is actually $ 193k. That's quite a margin for error.

Oh, and 2022 revenues fell by almost half to just over $ 100k. Mark says that's just under $ 5 million.

He's a liar.

I remember that one. Biggest one in my memory was with I think First Data. They were going to protect all their credit card terminals and be worth so much money. That may have been through their "partner" but either way, it never happened.

And so many of Mark's lies are demonstrably false. Remember when he made a big deal about doing a presentation of Zerify Meet to the members of the Meadowlands (NJ) Chamber of Commerce? Unfortunately for Mark, the Meadowlands Chamber publishes the dates of their meetings on their web sites. And whadda ya know, the date of the claimed "presentation" was not on a day that the Chamber had a meeting.

We have all been watching this guy for years. Nothing he says is ever the truth.

The 8K that ZRFY must file needs to say why the company's auditor, Weinberg & Co. out of Los Angeles, has been replaced. If Weinberg disagrees with the characterization of the parting I think they would file something with the SEC to note their side of the story.

It seems a little odd that Weinberg, with offices in LA, Boca Raton and West Palm Beach would be the auditor for a New Jersey company. Of course ZRFY is on the hook for the auditor's travel expenses. Perhaps Mark decided that money would be better spent on his salary so they selected a new audit firm that is within driving distance to Edison, NJ.

Or...Mark is just lying about the entire situation. Because Mark lies all the time. Always some would say.

They probably got tired of filing the same garbage 10Q and 10K's.

There is no low to Kay. I wonder if the letter from the former accounting firm, required by the SEC, contained negative info.

Great find!!!

And we know the last 8K had nothing to do about changing the accounting firm.

Well then...either Mark is lying or the company has once again run afoul of its reporting obligations as an SEC reporting company.

When changing accountants, a US reporting company faces disclosure requirements and may face other risks and complications, especially if the change in accountant causes a delay in filing required periodic reports under the Securities Exchange Act of 1934 (Exchange Act). Specifically, a company changing its accountant must file one or more current reports on Form 8-K with the SEC. These reports must include information responsive to:

?? Item 4.01(a) of Form 8-K, which requires disclosure about any resignation or dismissal of the company's accountant.

?? Item 4.01(b) of Form 8-K, which requires disclosure about the appointment of a new accountant.

Additional disclosure is required under Item 4.02 of Form 8-K if management or the company's accountant has determined that the company's previously filed annual or interim financial statements may no longer be relied on.

In addition to these Form 8-K disclosure requirements, if the change in accountant causes the company to miss SEC filing deadlines for any annual report on Form 10-K, any quarterly report on Form 10-Q or any combination of Form 10-K and Form 10-Q filings, the company must file a notification of late filing on Form 12b-25 to disclose and explain each late filing. The late filing of a Form 10-K or Form 10-Q may result in:

?? Limitations on a company's use of Form S-3, Form S-4 or Form S-8 registration statements.

?? Impermissibly stale information under Exchange Act Rule 15c2-11 and under Rule 144 and Rule 144A under the Securities Act of 1933
(Securities Act).

?? Non-compliance with the listing standards of the securities exchange or exchanges on which the company's securities are listed.

?? Defaults under the company's debt securities and other instruments and agreements.

Because the dismissal or resignation of a company's accountant may cause confusion or concern in the market, the company should also be prepared to handle questions from its investors and creditors. The discussions in this Note apply only to US reporting companies. Foreign issuers may be subject to different or conflicting requirements under federal securities law and SEC rules and regulations.

REQUIRED SEC DISCLOSURE ON FORM 8-K
Any US reporting company facing a change in accountant must file a Form 8-K with the SEC within four business days of the accountant's:
?? Resignation.
?? Refusal to stand for re-appointment.
?? Dismissal.

I emailed Kay about the 10K. He actually replied.


We changed auditors and they are getting on board and doing the 10k and I can’t say when they will complete it by, but couldn’t start in the beginning and have to catch up.

Thanks

Mark

In addition to what has been said by the other "Debbie Downers" check the 10-K for 2022 (the 10-K for 2023 was due earlier this week and is now late) and you will see that,

IN 2013, ZRFY (then SFOR) settled patent litigation with Microsoft on the out of band verification technology. At the time it was characterized as Microsoft doing away with a nuisance lawsuit by paying a few hundred thousand dollars to ZRFY.

In Note 8 of the 2022 10-K

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 December 31, 2022 and 2021, 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.

So:

a) The first $1.5 million of any infringement recovery goes to Therium following by an additional piece of any other patent recovery. That deal is almost 7 years old and Therium is still waiting for their money. What company is going to be foolish enough to front more litigation when the 7 year old litigation plan has not produced any recovery...and that new financier will have to wait until Therium gets their $ 1.5 million first.

b) The validity of the patents has never been demonstrated nor has ZRFY ever proven that anyone has violated those patents.

c) Mark Kay lies. Constantly. Always, really. If you believe what Mark says about patent litigation, about pending deals or even what he says about the sun coming out tomorrow you do so are your own peril.

Look at the 3 Year chart of ZRFY right here on this site. The .02 high to now .00025 is 99% loss. That’s what Mark/George/Ram and Ram’s wife have slated for shareholders. They hold the preferred stock, and they don’t appear to Reverse Split those…. (Nice work!)

Oh my... you are new to Kay & Co. You do know after the coming RS that you won't have anything to hold.

you boys are Debbie downers, as I said before all your points are valid, but this keystroke encryption stuff just got more interesting today, Im hearing they have 2 very impressive patent attorneys who are competing to represent them for recovery, Im holding cant go much lower.

Has anyone emailed Kay to find out where the 10K is?

Yep… I sure do remember that…

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?

No bankruptcy. Just an ongoing scam.

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

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

yes, just a dirty f'in liar.

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."

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.

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…

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

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.

Vaporware.

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.

They should partner with $HMBL ! LOL.

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?

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.

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?

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.

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.

Nope. Another Mark Kay scam.

News white label deal multi million dollars

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.

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."

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!

News white label deal multi million dollars

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.

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

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

Good memory!

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

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.

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