This continues to be a sloppy week for the Nasdaq and S&P 500 as markets are trading with some worries going into next week’s Presidential election. However, today shares of Strike Force Technologies Inc. (OTCMKTS: SFOR) are rallying over 102% in morning trading. The stock is one of the top gaining stocks on the US OTC exchange with over 1,100 individual trades executed for it to do over 141 million in share volume. Take a look at the chart.
This company is moving so quickly like this, because it is a small cap stock with a market cap less than one million. It has been almost dormant in its SEC filings so far this year, but today before the bell announced a further retirement in its outstanding shares in a press release titled StrikeForce Technologies, Inc. Returns 5,500,000 Common Shares Back to Treasury. The company explained that ““with the completion of the 3a10 with Continuation Capital, management paid off past due individual and professional service invoices. The Company will no longer use section 3A10 going forward.” Mark Kay CEO Strikeforce Technologies, Inc. stated, “As we move forward with a dramatically improved balance sheet, and the elimination of some of the dilutive toxic debt, the Company is in a much stronger financial position to obtain growth capital with less dilutive measures. With that in mind the Company is in the process of a 1-A offering filed with the SEC, which provides the Company with less dilutive fixed priced share offerings.”
The company, Strike Force Technologies Inc., is positioned as a cybersecurity company that provides customers with secure video conferences among other things. There is a lot of notice of the stock action today on twitter.
$SFOR only 128M outstanding shares , already at more than have the OS traded , can get nutty— Shemar anglin † (@S_AnglinIV) October 27, 2020
I do not own shares of SFOR and neither does Mike Swanson, the head editor of this website. You can get his free email trading alerts by clicking here to subscribe.