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Thursday, June 17, 2021

A Bold New Move for Gopher Protocol Inc (OTCMKTS:GOPH)

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Gopher Protocol Inc (OTCMKTS:GOPH) has been back on the move over the past few sessions, rising as much as 60% off the stock’s pivot lows recorded earlier in February, with a strong hold of key support in the $1.00/share area. That level has been critical for the stock over the past three months, forming the base of a bullish flag in December, from which shares exploded higher in January, ascending to tap a print around the $3 level.

The company just put out some materials on new R&D efforts for its MESH Technology. According to its latest release, “new research includes testing of its MESH network technology for use in autonomous driving tracking and safety applications. Gopher’s core tracking technology is based on Artificial Intelligence data in real-time and is currently implemented in its pet tracking device, as previously announced.” In other words, the company is trying to break into the autonomous car market space.

Gopher Protocol Inc (OTCMKTS:GOPH) casts 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.

According to its press communications, “Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher”) (http://gopherprotocol.com/) is a development-stage company which consider itself Native IoT creator, developing  Internet of Things (IoT) and Artificial Intelligence enabled mobile technology.  Gopher 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.”

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The company describes its Mesh Network as “a communications network intended to be made up of radio nodes organized in a mesh topology. A mesh refers to rich interconnection among devices or nodes. Wireless mesh networks often consist of mesh clients, mesh routers, and gateways. In commencing this project, the main goal is to build a private network that every mobile device (Guardian ORB) is part of the global network. When implemented, if an ORB sends its location signal, every ORB in range that receives the transmission, passes it along to the next ORB according to an AI-based mathematical model, until the signal eventually reaches a destination which is a base unit (Gateway). In this way, as more devices are added to the network, the larger the coverage area will be due to the fact that more units are extending the coverage area.”

As noted above, the new application appears to be an entrance into the autonomous car space.

CTO, Dr. Rittman said, “Currently we are in the process of defining, adapting and testing of our advanced MESH network architecture to be implemented within autonomous driving systems. Our MESH network includes AI, deep learning methodology, which we believe will allow cars to rapidly and adaptably scale to safely handle situations as conditions change. Using Gopher’s MESH technology, we believe it will potentially enable autonomous vehicles to communicate, learn and share vital safety details, among them road conditions, obstacles, weather and other safety information.“

At this time, carrying a capital value in the market of $85.8M, GOPH has virtually no cash on the books, which is balanced by about $4.4M 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%. As more color becomes clear on the name, we will review the situation and update our take. 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.

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