In The Boardroom With...
Mark joined SFT in May 2003. Previously, he was an established leader, CIO and Managing Director at JPMorganChase over the past 25 years. During his employment at JPMC he led strategic and corporate business groups with global teams up to 1000 people. His responsibilities also included Chief Operating Officer and Global Technology Auditor during his tenure. His business concentrations were Securities (Fixed Income and Equities), Proprietary Trading & Treasury, Global Custody Services, Audit, Cash Management (including Money Transfer and Demand Deposit), Corporate Business Services and Web Services. Prior to JPMC, Mark was a Systems Engineer at Electronic Data Services (EDS) for over five years, where he developed his technical and people skills. He holds a B.A. in Mathematics from CUNY.
StrikeForce Cyber Security Solutions Overview:
GuardedID® Protects you by encrypting your keystrokes when you bank, shop and email online. GuardedID’s Premium
MobileTrust® The most advanced security suite for Apple & Android mobile devices, protecting user credentials, passwords,
SecuritySolutionsWatch.com: Thank you for joining us again today, Mark. Much has changed in the cybersecurity space since our 1st interview with you a couple of years ago and much has changed at StrikeForce as well. Before discussing today’s cybersecurity threat environment and StrikeForce solutions in greater detail, please update us on latest developments.
Mark Kay: Thanks for having me. We still have our three major products, ProtectID®, which companies can buy for their consumers and employees to protect them when signing into their application or vpn, GuardedID®, for keystroke encryption on every PC and NOW most modern MAC’s and MobileTrust®, which now is redesigned and the application and its secure keyboard works with most applications. Also NOW GuardedID and MobileTrust sell through many physical stores and online sites. StrikeForce also was awarded monies from our lawsuit against Phone Factor/Microsoft, and recently issued lawsuits against DUO, Centrify and Trustwave for ProtectID, with more to come.
SecuritySolutionsWatch.com: The massive Yahoo breach affecting over 1 billion people, concerns over Russian hacking and other daily headlines, unfortunately remind us just how vulnerable we are in today’s constant threat environment. Especially now including the Amazon 1 billion records hacked. And, the bad guys come in many forms: foreign governments, sophisticated hacker groups, and “lone wolves” among others. Please give us an overview of ProtectID®, GuardedID®, and MobileTrust® and the main features and benefits.
Mark Kay: Our products help in many ways. ProtectID® stops hackers from being you and signing into their site or application as you through our 2-factor authentication (especially Out-of-Band Processing), GuardedID® preventing the hacker groups from stealing your keystrokes typed on your computer which happens as the most common type viruses out there that the anti-virus don’t stop, and MobileTrust® which simply doesn’t allow the keystrokes entered by you on your Apple and Android devices to be stolen or seen through the Operating Systems and your Password Vault, which is also encrypted through our specially designed keyboard.
SecuritySolutionsWatch.com: What is your perspective Mark, regarding the unique value proposition that StrikeForce delivers in today’s IoT, mobility and BYOD environment?
Mark Kay: Well unfortunately, as we get more digital access to loT and mobility, that means MORE people (hackers) also can have access to our personal information and now including our homes thermostats, locks, lights, cars, etc. that can be stolen a lot more. This means the applications you set up to access today’s loT, which don’t require security can be hacked much more easily. Imagine if someone can hack your house locks (loT), or steal an application (like your car starting) and know when and where your family is, same as you do. With GuardedID chances are they won’t steal that information and with ProtectID they probably can’t get the information and if they do it on a mobile device, with MobileTrust they won’t beable to steal the information and become you. This becomes much more imperative to have these products usage increase as loT and Mobility, let alone as BYOD increases with the security our products can bring to all.
SecuritySolutionsWatch.com: Congratulations on these Reviews – they are indeed very impressive. Care to elaborate?
Mark Kay: A Great Question Martin. Since we were awarded monies through our Phone Factor lawsuit two years back, we then paid off all of our convertible notes we borrowed and started to deal with our friendly notes we owed people. We went from $14million to about $7.5 million owed and stopped borrowing monies and owing any collateral deals. Our stock outstanding hasn’t increased except for a few million where we had some preferred shares convert to common shares and definitely have no plans to do a reverse stock split for these same reasons. This allowed us to concentrate on revenues, which started to increase. Plus we did a deal with Cyber Safety, where they purchased a $9million option to buy our GuardedID patent and our GuardedID and Mobiletrust products, for which StrikeForce has a perpetual right to sell (see 8k in 2015). Also StrikeForce developed a retail arm for selling GuardedID and MobileTrust through the stores, that is growing in numbers with a TV store in January starting to show our products in 2017. We also built up online sales of our product, for which we achieved a Best Sellling product in Amazon.com. With all of these efforts and with Cyber Safety selling to many enterprises coming up, we see a continued growth in sales for our channel and StrikeForce through its perecentages we receive.
SecuritySolutionsWatch.com: Kudos also to you and your team, Mark, for the very well done set of WhitePapers here about StrikeForce solutions:
· ProtectID Cloud Service
· ProtectID Financial Services
· MobileTrust SDK
Mark Kay: These White Papers do explain our products and we have improved them all since these were written, but the basics are still in play and we should rewrite some of these White Papers over the next year as we also update our NEW Website, which should be out over the next month, inclusive of our new retail arm.
SecuritySolutionsWatch.com: Speaking of your management team, please introduce us.
Mark Kay: The good news is our management team has been consistent over the past 10 years, include Ram Pemmaraju, our CTO and inventor, George Waller, our EVP and head of marketing and sales, along with me as the CEO. We work with many other people as we get involved in various business deals, especially our retail business. We survived the hard times our company has been through the years and are now planning and growing with our business.
SecuritySolutionsWatch.com: As a relatively small publicly held company in this space, what are the key drivers you would like the financial community to understand about SFOR and future potential.
Mark Kay: Our key drivers are #1 financials. Our financials have grown and should continue. We hope for a jump in financials throughout 2017 based on our revenue plans. Also since we don’t owe any monies to survive, we expect our stock price to grow, especially once our revenues grow to larger numbers through the many large deals we expect to close in 2017. Also this year we expect our lawsuits to continue and potentially grow, and now that we were awarded one lawsuit (PhoneFactor/Microsfot), we expect others to follow.
SecuritySolutionsWatch.com: Thank you again Mark for joining us today...are there any other subjects you would like to discuss?
Mark Kay: One very important subject is, HAVE A VERY HAPPY NEW YEAR!