Gopher Protocol Inc (OTCMKTS:GOPH) has been a very interesting stock to track on the OTC over recent months. Shares are actually starting to break out again on the upside in recent action, ramping above two-month range highs to print above the $1.80/share level. The company has been working on an AI-based system for autonomous vehicle tracking as it plays into the self-driving vehicle theme.
Naturally, one of the key hurdles for a play in any new-industry tech theme is always going to be funding. That suggests shares will likely perform well when the company is able to demonstrate its access to financing in the course of time. As a case in point, shares are breaking out in reaction to the company’s most recent release, announcing the closing of the sale of a convertible debenture containing a fixed conversion price, which generated $750,000 in gross proceeds.
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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As noted above, shares of the stock have been popping higher in reaction to the company’s new financing arrangement. However, as noted by management in the release, there are also a number of key irons in the fire for this play.
“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 well as potentially new acquisitions, as we seek to combine our distribution channels with our new technologies,” stated Greg Bauer, CEO. “In simple words, the Company’s debt schedule following the current funding and the payment of the last derivative liability result in only one outstanding liability of $750,000 that may potentially be converted into common stock at a fixed price,” added Greg Bauer, CEO.
We’ve witnessed 50% during the past month in terms of shareholder gains in the name. Furthermore, the stock has benefitted from a jump in recent trading volume to the tune of 88% over what the stock has registered over the longer term. This is particularly important due to the extremely small float size in the stock (of 8.5 million shares).
Earning a current market cap value of $101.3M, GOPH has virtually no cash on the books, which must be weighed relative to virtually no 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 developments transpire. 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.