Gopher Protocol Inc (OTCMKTS:GOPH) has been on a rampage of late. If you haven’t been watching this one, you might want to start. Shares of GOPH have been in high gear, ripping as much as 125% in just the past 5 days in a parabolic advance on increasing volume. There isn’t a lot of news to explain the move.
The company most recently announced that it has taken further steps to eliminate most of its convertible debt. This can often be a more important catalyst than it might seem on its face. That said, the company also offered up some year-in-review materials that contained some interesting highlights, including the following passage: “In September 2017, Gopher announced the acquisition of certain assets from RWJ Advanced Marketing, which were previously owned by W.L. Petrey Wholesale Company. These assets provided Gopher the presence and potential revenue opportunities in approximately 15,000 locations across the United States. As a result the acquisition, Gopher announced in a press release on December 5, 2017, that the audited financials provided $66 Million in sales for FYE January 2017.”
Gopher Protocol Inc (OTCMKTS:GOPH) bills itself as a development-stage Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology.
The Company has a portfolio of Intellectual Property that when commercialized will include smart microchips, mobile application software and supporting cloud software. The system contemplates the creation of a global network. The core of the system will be its advanced microchip technology that can be installed in any mobile device worldwide.
Gopher envisions this system as an internal, private network between all enabled mobile devices providing shared processing, advanced mobile database management/sharing and enhanced mobile features.
Moreover, Gopher Protocol Inc. engages in the process of developing a real-time, heuristic based, mobile technology. Its technology consists of a smart microchip, mobile application software, and supporting software. The company was formerly known as Forex International Trading Corp. and changed its name to Gopher Protocol Inc. in February 2015. Gopher Protocol Inc. was founded in 2009 and is headquartered in Santa Monica, California.
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As noted above, GOPH has been on fire. The company recently propounded its newfound sales growth as well as an announcement of a curtailing in convertible obligations held on the balance sheet.
On this second note, according to the release, along with the recently announced growth capital financing, the Company is positioned to pursue growth and fund the rollout of its new technologies. As noted, “the de-levering is part of the Company’s strategy to reduce its dependence on convertible debt financing and create a balance sheet that gives investors clarity regarding the number of shares outstanding and potential dilution caused by historical convertible debt financing.”
“We are pleased to make this string of announcements, which we believe is evidence of the fact that we are on track to complete many of the tasks that I have laid out including our absorbing of our recent acquisition as we seek to combine our distribution channel with our new technologies,” stated Greg Bauer, CEO.
Recent action has seen a bit less than 110% added to share values of the company over the past week of action. This is emblematic of the stock. GOPH is a stock with a past that has featured a litany of sudden rips to the upside. Moreover, the stock has seen interest climb, with an increase in recent trading volume of greater than 340% beyond its prior sustained average level.
This is particularly important with the stock trading on a float that is very limited at just 6.1M shares. This type of thing is something to watch out for: ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.
At this time, carrying a capital value in the market of $119.1M, GOPH has under $50K in cash on the books, which is balanced by a mountain (over $4.3M) in total current liabilities. One should also note that debt has been growing over recent quarters. GOPH is pulling in trailing 12-month revenues of $4.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 9836.9%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $GOPH stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GOPH, either long or short, and we have not been compensated for this article.