EDISON, N.J., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Zerify Inc. (OTC PINK: ZRFY), a pioneer in cybersecurity specializing in secure video conferencing and endpoint security, is excited to announce the restructuring of our cap table and balance sheet in an effort to increase shareholder value.
“We have successfully eliminated nearly $1.7mil of debt obligations and virtually all warrants as a result of this restructuring,” says Mark L. Kay, CEO of Zerify. “We have greatly improved and simplified our cap table and balance sheet. We believe this will pave the way to drive tremendous shareholder value as we continue to execute on the fundamentals of our core business.”
"As we have stated before, we are extremely bullish about our strategic path and corporate outlook for 2024. We expect significant growth of our revenues as our solutions address the critical need for secure communications in today's world of video conferencing," concluded Kay.
The exchanged transactions resulted in over 13 billion warrants and approximately $1,700,000 in debt being converted into new Series C and Series D preferred share classes, with fixed-price conversion rights.
Forward-Looking Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company’s identity protection software products into various channels and market sectors, the issuance of the Company’s pending patent applications, COVID-19, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the company.
About Zerify:
Zerify Inc. (OTC PINK: ZRFY), formerly StrikeForce Technologies, is an Edison, New Jersey-based company with over two decades of experience in cybersecurity solutions. The company is focused on Secure Video Conferencing & Endpoint Gap Security. Its technologies help to prevent cyber theft and data security breaches for consumers, corporations and government agencies through powerful multi-factor “out-of-band” authentication and keystroke encryption. The technology also protects cameras, microphones and speakers, keeping computers and confidential data secure even when one is offline and not on a video conference. No other video conferencing service on the market, such as Zoom, Webex, LogMeIn, MS Teams or BlueJeans, offers this level of cybersecurity protections.
Zerify Contact:
Mark L. Kay
marklkay@zerify.com
(732) 661-9641
